Written by ForexBrokers.com
In this head to head comparison of IG vs iFOREX, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
When comparing IG and iFOREX, it's clear that IG holds a distinct advantage in terms of trust and regulatory oversight. Founded in 1974, IG is a publicly traded company and operates as a bank. This broker boasts a ForexBrokers.com Trust Score of 99, indicating high reliability. IG's strong regulatory framework includes eight Tier-1 licenses, known for high trust, and two Tier-2 licenses, solidifying its status as a safe choice for online trading.
In contrast, iFOREX, established in 1996, does not share the same level of trust with a ForexBrokers.com Trust Score of 75, categorizing it as an average risk broker. Unlike IG, iFOREX is neither publicly traded nor a bank and holds just one Tier-1 license with no Tier-2 licenses. These factors suggest that traders may encounter higher risk when choosing iFOREX compared to the highly trusted IG.
| Feature |
IG
|
iFOREX
|
|---|---|---|
| Year Founded | 1974 | 1996 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
IG and iFOREX differ significantly in their commission and fee structures, with IG boasting a stronger offering for active traders. IG is known for its scalable execution and multiple account types, including Forex Direct, which caters to high-volume traders with competitive pricing. With average spreads around 0.62 pips on its Forex Direct account in mid-2023, IG provides a competitive all-in cost of 0.82 pips, factoring in a commission of 0.2 pips per trade. For volume traders, IG also offers tiered rebates, reducing costs further for those trading substantial volumes. IG’s diverse options and competitive pricing have earned it a 5-star rating and the #8 rank among 63 brokers for commissions and fees.
Unlike IG, iFOREX does not provide precise average spread data, which makes direct cost comparisons challenging. While details on their exact trading costs are sparse, the lack of clarity in their fee structure contributes to a lower rating of 3 stars. In ForexBrokers.com's ranking for commissions and fees, iFOREX stands at #61, indicating there might be more favorable brokers out there for cost-conscious traders.
Overall, IG's structured pricing and fee transparency give it an edge over iFOREX, especially for traders looking for cost-effective trading solutions. With robust options like Forex Direct and tiered rebates, IG caters well to both average and high-volume traders seeking competitive spreads and lower overall trading costs.
| Feature |
IG
|
iFOREX
|
|---|---|---|
| Minimum Deposit | £250.00 | $100 |
| Average Spread EUR/USD - Standard | 0.98 | N/A |
| All-in Cost EUR/USD - Active | 0.82 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing IG to iFOREX for investment options, IG emerges as a more comprehensive choice for traders. Both IG and iFOREX facilitate forex trading through CFDs or spot contracts, yet IG distinguishes itself with a staggering 19,537 tradeable symbols versus iFOREX's 750. Furthermore, IG offers access to 97 forex pairs, slightly outpacing iFOREX's offering of 88 pairs. This broader selection provides IG clients with more diverse trading opportunities. Additionally, IG allows clients to invest in exchange-traded securities on U.S. and international markets, enabling the purchase of notable stocks like Apple and Vodafone, a feature absent in iFOREX’s offerings. While both brokers provide access to cryptocurrency derivatives, IG additionally permits the purchase of actual cryptocurrency, adding another facet to its investment range.
Rated five stars for Range of Investments, IG holds a prominent position at #4 out of 63 brokers according to ForexBrokers.com, highlighting its extensive and diverse offering. On the other hand, iFOREX receives a 3.5-star rating, ranking #41. This indicates a more limited range of investment options, lacking stock market access and the ability to hold actual cryptocurrencies. While neither platform supports copy trading, IG's broader spectrum of options positions it as a more versatile choice for traders seeking variety and depth in their investment portfolio.
| Feature |
IG
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 750 |
| Forex Pairs (Total) | 97 | 88 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | No |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing the trading platforms and tools of IG and iFOREX, several distinctions emerge. IG stands out by offering a free virtual demo account, which is absent at iFOREX, allowing users to practice trading without financial risk. Both brokers have developed proprietary platforms, but IG has the advantage of also providing a Windows-based desktop download platform alongside its web-based option, while iFOREX offers only a web-based platform. Additionally, IG supports the popular MetaTrader 4 platform, giving users more flexibility, a feature not available at iFOREX. Both platforms allow trading directly from a stock chart.
IG and iFOREX both offer their traders a variety of tools, but IG shines with a slightly lower number of drawing tools at 20 compared to iFOREX's 25. However, IG includes five columns for watch lists, whereas iFOREX provides nine, offering more options for custom tracking. Despite these differences, IG receives a perfect five-star rating for its trading platforms and tools, while iFOREX earns a respectable four-star rating. Notably, IG ranks #2 out of 63 brokers for its trading platforms and tools according to ForexBrokers.com, whereas iFOREX ranks at #54, reflecting IG's broader range and user-friendly offerings.
| Feature |
IG
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 57 |
| Charting - Drawing Tools (Total) | 20 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing IG and iFOREX mobile trading apps, both offer iPhone and Android versions, allowing users to trade on the go easily. However, IG takes the lead with features that enhance user experience and functionality. For those interested in stock or forex price alerts, IG stands out by providing this feature, while iFOREX does not. Furthermore, IG allows watchlist symbol syncing, which means any changes you make sync seamlessly between your mobile app and online account. Unfortunately, iFOREX lacks this convenience.
IG offers a more comprehensive chart analysis experience, providing 33 technical studies in the app, while iFOREX does not disclose any technical studies. IG also allows users to draw trendlines and view different time frames on charts, and automatically saves chart drawings, whereas iFOREX does not offer these features. Additionally, IG provides the ability to create a watchlist with real-time quotes, a feature missing in iFOREX's app. As a result, IG earns a perfect 5-star rating for mobile trading apps and secures the first rank among 63 brokers on ForexBrokers.com. In contrast, iFOREX is rated 4 stars and ranks #55 in the same category, reflecting a significant difference in the overall quality of their mobile trading platforms.
| Feature |
IG
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing the market research capabilities of IG and iFOREX, both brokers offer daily market commentary and maintain economic calendars, helping traders stay informed about ongoing and upcoming events worldwide. However, IG takes the lead by providing insights from top-tier news sources such as Bloomberg and Reuters, whereas iFOREX does not. If you're interested in tools that aid in technical analysis, IG makes use of Autochartist, offering a solid foundation for analyzing market trends. On the flip side, iFOREX utilizes Trading Central, which is not available with IG.
IG provides users with advanced research tools from companies like TipRanks and Acuity Trading, further enhancing its offering with sentiment-based trading insights. This gives traders a well-rounded perspective on market sentiment and potential trading opportunities. iFOREX, while also offering sentiment-based tools, doesn't provide access to resources like TipRanks or Acuity Trading. With a research rating of 5 stars for IG compared to 3.5 stars for iFOREX, it is not surprising that IG is ranked as the #2 broker in research by ForexBrokers.com, while iFOREX ranks at #48 out of 63 brokers.
| Feature |
IG
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners venturing into forex or CFD trading, IG stands out as a leading online broker. IG not only meets the requirement of offering at least ten educational pieces focused on forex or CFDs, but it also surpasses expectations with a variety of articles, videos, and archived webinars. Additionally, IG provides clients with monthly online webinars and ensures newcomers have access to a searchable archive of recorded sessions. This comprehensive approach is supported by a wealth of beginner and advanced video tutorials, as well as a dictionary with over 50 investing terms, making IG a top choice for those seeking to build a strong foundation in trading. Rated 5 stars for education and ranked #1 by ForexBrokers.com, IG offers an exemplary learning experience.
In contrast, iFOREX provides a more limited educational selection. While the platform does offer ten beginner-focused educational videos, it lacks the broad variety of resources that IG provides. iFOREX does not offer the same level of depth with respect to educational articles or webinars. It also lacks a searchable archive of webinars and does not provide advanced video materials or a comprehensive investor dictionary. With a 3.5-star rating in education and ranking #53 out of 63 brokers as per ForexBrokers.com, iFOREX may benefit individuals with some basic resources, but it falls short for those seeking a wider range of educational tools.
| Feature |
IG
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that IG is better than iFOREX. IG finished with an overall rank of #1, while iFOREX finished with an overall rank of #52.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
|
iFOREX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 75 |
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IG allows users to buy both actual delivered cryptocurrency and cryptocurrency derivatives, while iFOREX only offers cryptocurrency derivatives without the option to purchase actual cryptocurrency.
When comparing online brokers IG and iFOREX, IG offers ACH or SEPA transfers for fund deposits and withdrawals, unlike iFOREX, but both platforms support PayPal and Visa or Mastercard transactions, while iFOREX uniquely provides Skrill as an option, and both support bank wire transfers.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | IG | iFOREX | |
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| Trust Score | 99 | 75 | |
| Winner | check_circle | ||
| Review | IG Review |
| Broker Screenshots | IG | iFOREX | |
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| Regulation | IG | iFOREX | |
|---|---|---|---|
| Trust Score | 99 | 75 | |
| Year Founded | 1974 | 1996 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IG | iFOREX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 750 | |
| Forex Pairs (Total) | 97 | 88 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | No | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | IG | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | N/A | |
| All-in Cost EUR/USD - Active | 0.82 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | iFOREX | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | IG | iFOREX | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 5 | 9 | |
| Charting - Indicators / Studies (Total) | 33 | 57 | |
| Charting - Drawing Tools (Total) | 20 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | IG | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 33 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | IG | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | IG | iFOREX | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | IG Review |
| Overall | IG | iFOREX | |
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| Trust Score | 99 | 75 | |
| Winner | check_circle | ||
| Review | IG Review |
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