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 received a rating of 4.50 stars over Interactive Brokers's 4.00 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. IG Group and Interactive Brokers both 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 trails IG Group by 6 total currency pairs (for example, EUR/USD), with IG Group offering 91 and Interactive Brokers offering 85.
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 boasts an offering of 31 charting tools compared to Interactive Brokers's 9 available charting tools. IG Group trails Interactive Brokers by 70 total different indicators (for example, moving averages), with Interactive Brokers offering 121 and IG Group offering 51.
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 was rated 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 Interactive Brokers was rated none of these.