Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare IC Markets vs IG Group.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. IG Group is a better option with a 4.50 star rating over IC Markets's 4.00 star rating.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. IC Markets alongside IG Group are regulated in a major hub. IG Group is a publicly traded company, while IC Markets is not. How many currency pairs are available to trade? IG Group offers its clients access to 91 different currency pairs while IC Markets has 63 available pairs, a difference of 28.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Both IC Markets and IG Group offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. IC Markets offers its clients access to 31 charting tools while IG Group has 17 charting tools, a difference of 14. IC Markets offers its clients access to 51 different indicators (for example, volume) while IG Group has 22 available indicators, a difference of 29.
Overall, IG Group boasts 4.50 stars versus IC Markets's 4.00 stars. And, when it comes to individual category awards, IG Group finished with awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2018, while IC Markets came up with none of these.