After spending seven months and hundreds of hours researching 43 different forex brokers
for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare FXCM vs IG Group.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. IG Group received a rating of 4.50 stars over FXCM's 4.00 stars.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. FXCM alongside IG Group are regulated in a major hub. Both FXCM and IG Group are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. IG Group offers its clients access to 91 different currency pairs while FXCM has 39 available pairs, a difference of 52.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. FXCM alongside IG Group offer Meta Trader. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. Both FXCM and IG Group provide clients with access to 31 total charting tools. Both brokers offer clients access to the same number of indicators (eg, moving averages), 51.
Overall, IG Group takes the upper hand with 5.00 stars over FXCM's 4.50 stars. And, when it comes to individual category awards, IG Group finished with awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading and Best in Class - Investor Education in 2018, while FXCM came up with Best in Class - Platforms & Tools, Best in Class - Mobile Trading and Best in Class - Investor Education.