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 IG Group vs Interactive Brokers.
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 Interactive Brokers'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. IG Group alongside Interactive Brokers are regulated in a major hub. Both IG Group and Interactive Brokers are publicly traded companies. How many currency pairs are available to trade? Interactive Brokers boasts an offering of 115 different currency pairs compared to IG Group's 91 available pairs.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. IG Group offers Meta Trader while Interactive Brokers does not. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Both brokers offer clients access to the same number of charting tools, 9. IG Group trails Interactive Brokers by 99 total different indicators (for example, moving averages), with Interactive Brokers offering 121 and IG Group offering 22.
Overall, IG Group takes the upper hand with 5.00 stars over Interactive Brokers's 4.50 stars. And, when it comes to individual category awards, IG Group posted awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2018, while Interactive Brokers found itself with none of these.