To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare IC Markets vs IG Group.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. IG Group is a better option with a 4.50 star rating over IC Markets's 4.00 star rating.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. IC Markets alongside IG Group are regulated in a major hub. IG Group is a publicly traded company, while IC Markets is not. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. IC Markets trails IG Group by 28 total currency pairs (for example, EUR/USD), with IG Group offering 91 and IC Markets offering 63.
To round out our comparison of IC Markets vs IG Group, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. IC Markets and IG Group both offer Meta Trader. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. Both IC Markets and IG Group provide clients with access to 31 total charting tools. IC Markets and IG Group offer the same number of indicators (eg, volume), 51.
Overall, IG Group comes out on top with 5.00 stars over IC Markets's 4.00 stars. And, when it comes to individual category awards, IG Group posted 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 IC Markets found itself with none of these.