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 IG Group vs Interactive Brokers.
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's score is 4.5 stars versus Interactive Brokers's 4 stars.
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. Both IG Group and Interactive Brokers are regulated in a major hub. IG Group alongside Interactive Brokers are publicly traded companies. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. Interactive Brokers offers its clients access to 115 different currency pairs while IG Group has 91 available pairs, a difference of 24.
To round out our comparison of IG Group vs Interactive Brokers, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. IG Group offers Meta Trader while Interactive Brokers does not. 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. IG Group offers its clients access to 17 charting tools while Interactive Brokers has 9 charting tools, a difference of 8. Interactive Brokers offers its clients access to 121 different indicators (for example, volume) while IG Group has 22 available indicators, a difference of 99.
Overall, IG Group takes the upper hand with 4.5 stars over Interactive Brokers's 4 stars. And, when it comes to individual category awards, IG Group was rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2018, while Interactive Brokers was rated none of these.