Written by ForexBrokers.com
In this head to head comparison of IG vs Interactive Brokers, 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.
Founded in 1974, IG is one of the long-standing giants in the online brokerage field. It is publicly traded and operates as a bank, offering it a multi-faceted advantage in providing financial services. IG boasts an impressive eight Tier-1 licenses, affirming its high level of trustworthiness according to industry standards. With a ForexBrokers.com Trust Score of 99, IG is considered a top-tier choice for investors seeking confidence and security in their trading platform.
Interactive Brokers, another well-respected broker founded in 1977, is likewise publicly traded but does not function as a bank. It surpasses IG slightly with nine Tier-1 licenses, demonstrating an equally strong foundation of reliability and oversight. Holding the same ForexBrokers.com Trust Score of 99, Interactive Brokers offers investors peace of mind and trust equivalent to IG's high standards. Both brokers are regarded as highly trusted options, each with unique strengths and extensive regulatory backing.
| Feature |
IG
|
Interactive Brokers
|
|---|---|---|
| Year Founded | 1974 | 1977 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 9 |
| Tier-2 Licenses | 2 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing the commissions and fees for online brokers IG and Interactive Brokers, both firms offer competitive yet varied pricing structures tailored for active traders. IG provides multiple execution options, enhancing its appeal for significant volume trades. Its Forex Direct accounts shine with active trader pricing, where spreads typically average 0.62 pips during prime trading times, reaching an all-in cost of about 0.82 pips after commissions. With its three-tier rebate program, IG rewards professionals trading over substantial volumes, offering discounts that can bring effective costs as low as 0.60 pips. In addition, IG's DMA account offers even more attractive pricing tiers, starting at $60 per million with potential reductions for higher-volume trades. Overall, IG is rated five stars for its commissions and fees, landing it the #8 spot out of 63 brokers by ForexBrokers.com.
Interactive Brokers presents a slightly different model by focusing more on commission-based pricing complemented by some of the lowest spreads in the market. Unlike IG, it doesn't publicize average spreads widely, but data from Q3 2024 indicates an average spread of 0.19 pips for EUR/USD, resulting in an effective cost of 0.59 pips after commissions for high-volume transactions. Forex trading at Interactive Brokers starts with commissions at 0.2 basis points, sliding down for extremely active traders. The minimum commission of $2 per side suggests that it could be less cost-effective for smaller trades, but larger transactions benefit significantly from this structure. Additionally, the company leverages a broad network of 17 interbank forex dealers to ensure competitive pricing and excellent market execution. With these attributes, Interactive Brokers also receives a five-star rating and ranks #2 out of 63 brokers for commissions and fees.
Both brokers are well-suited for active traders but cater to slightly different trading strategies and volume needs. While IG supports scalability through various account types and rebate programs, Interactive Brokers excels with its direct access trading and interbank pricing, offering some of the tightest spreads available. Each broker has its distinct strengths, and the choice between them would ultimately depend on the specific trading needs and volume expectations of the investor.
| Feature |
IG
|
Interactive Brokers
|
|---|---|---|
| Minimum Deposit | £250.00 | $0 |
| Average Spread EUR/USD - Standard | 0.98 | 0.59 |
| All-in Cost EUR/USD - Active | 0.82 | 0.59 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Both IG and Interactive Brokers offer a wide scope of investment opportunities for traders, including forex trades as either CFDs or spot contracts. IG boasts a remarkable selection of 19,537 tradeable symbols, slightly surpassing Interactive Brokers' offering of 8,500. When it comes to forex pairs, IG provides access to 97 pairs compared to Interactive Brokers' 90. Both platforms allow investors to buy exchange-traded securities on U.S. exchanges, like Apple shares, as well as on international exchanges, such as Vodafone shares. Neither broker offers copy trading, but they both facilitate the purchase of actual cryptocurrencies and cryptocurrency derivatives, catering to crypto enthusiasts.
In terms of ratings, both IG and Interactive Brokers receive a perfect score of five stars for their range of investments, confirming their robust offerings. However, according to ForexBrokers.com, Interactive Brokers is ranked as the top choice out of 63 brokers for the range of investments category, while IG holds a respectable fourth position. Choosing between the two ultimately depends on individual trading preferences and the specific investment options one seeks to prioritize. Either way, investors looking for diverse investment opportunities will find strong contenders in both IG and Interactive Brokers.
| Feature |
IG
|
Interactive Brokers
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 8500 |
| Forex Pairs (Total) | 97 | 90 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| Cryptocurrency (Physical) | Yes | Yes |
| 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.
IG and Interactive Brokers both provide strong trading platforms with an array of features to suit different traders' needs. Both brokers offer simulated trading via free virtual demo accounts and have developed their own proprietary platforms. They also support Windows-based desktop downloads and web-based platforms for convenient trading access. However, when it comes to third-party tools like MetaTrader, only IG supports MetaTrader 4, while neither broker supports MetaTrader 5. Additionally, options like copy trading, DupliTrade, and ZuluTrade are not available with either broker.
In terms of technical charting capabilities, both IG and Interactive Brokers allow trading directly from stock charts. However, Interactive Brokers significantly surpasses IG with 85 drawing tools compared to IG's 20. When it comes to watch lists, Interactive Brokers offers an impressive 659 columns, starkly overshadowing IG's offering of 5 columns. Both brokers earn solid five-star ratings for their trading platforms and tools, with IG ranked slightly higher at second place compared to Interactive Brokers' third-place ranking in a review by ForexBrokers.com.
| Feature |
IG
|
Interactive Brokers
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| 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 | 155 |
| Charting - Drawing Tools (Total) | 20 | 85 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 659 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both IG and Interactive Brokers offer apps for iPhone and Android, giving users the flexibility to trade on the go. Each app provides stock and forex price alerts, as well as watchlist symbol syncing, ensuring that your watchlists stay consistent across both mobile and online platforms. Both brokers also allow users to draw trendlines and view different time frames on charts in their mobile apps. While both apps support real-time quote watchlists, IG stands out by automatically saving chart drawings, a feature that Interactive Brokers does not offer.
In terms of technical analysis, Interactive Brokers offers a whopping 97 technical studies in its app, compared to IG's 33. However, despite this difference, both brokers receive impressive five-star ratings for their mobile trading platforms. On ForexBrokers.com's ranking among 63 other brokers, IG claims the top spot in the Mobile Trading Apps category, while Interactive Brokers follows closely at fourth place. This shows that while both brokers offer powerful mobile trading experiences, IG is considered the leader in this space according to industry rankings.
| Feature |
IG
|
Interactive Brokers
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 97 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Choosing between IG and Interactive Brokers for market research comes down to specific preferences in tools and resources. Both platforms provide daily market commentary and access to top-tier forex news from Bloomberg, Reuters, and Dow Jones. However, IG offers technical analysis tools from Autochartist, while Interactive Brokers features resources from Trading Central. Both companies have sentiment-based trading tools and provide research from TipRanks, as well as Acuity Trading. Economic calendars displaying global news events are available on both platforms.
For overall research quality, IG and Interactive Brokers both receive a five-star rating. However, IG holds a slight edge, being ranked second for research by ForexBrokers.com out of 63 brokers, while Interactive Brokers ranks third. This small difference highlights their common excellence in market research offerings, with some variations in specialized tools that may attract different types of traders.
| Feature |
IG
|
Interactive Brokers
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | Yes |
| Signal Centre (Acuity Trading) | Yes | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners eager to dive into the world of online trading, both IG and Interactive Brokers offer a wealth of educational resources. Each platform provides over 10 articles, videos, and webinars focused on forex and CFDs, helping newcomers lay a strong foundation in these markets. Both brokers host at least one live webinar per month, along with providing access to a searchable archive of past sessions, ensuring that learners have ample opportunity to engage with content at their own pace. New traders will find no shortage of beginner-specific educational videos, as both platforms offer a minimum of 10 on trading topics.
Additionally, IG and Interactive Brokers cater to experienced traders with an equal number of advanced educational videos, and both feature an investor dictionary to explain over 50 investing terms. Despite their similar offerings, IG leads in educational rankings, snagging the top spot out of 63 brokers according to ForexBrokers.com, with a perfect education rating of five stars. Interactive Brokers also holds a five-star rating, though it ranks third. These accolades reflect the quality and accessibility of educational materials each broker provides, making them compelling choices for those starting their investment journey.
| Feature |
IG
|
Interactive Brokers
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
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 Interactive Brokers. IG finished with an overall rank of #1, while Interactive Brokers finished with an overall rank of #2.
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
|
Interactive Brokers
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Both IG and Interactive Brokers provide investors the option to buy both actual, delivered cryptocurrencies and cryptocurrency derivatives, allowing for a versatile approach to digital asset trading.
When comparing online brokers IG and Interactive Brokers, both platforms support ACH or SEPA transfers and bank wires for deposits and withdrawals, but IG uniquely offers options like PayPal and Visa/Mastercard, which are not available with Interactive Brokers.
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 | Interactive Brokers | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | Interactive Brokers Review |
| Broker Screenshots | IG | Interactive Brokers | |
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| Regulation | IG | Interactive Brokers | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1974 | 1977 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 9 | |
| Tier-2 Licenses | 2 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | IG | Interactive Brokers | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | Yes | |
| Japan (SFC Authorised) | Yes | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | Yes | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | Yes | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | Interactive Brokers | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | Yes | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | Interactive Brokers | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 8500 | |
| Forex Pairs (Total) | 97 | 90 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| Cryptocurrency (Physical) | Yes | Yes | |
| 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 | Interactive Brokers | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 0.59 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.59 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | IG | Interactive Brokers | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | IG | Interactive Brokers | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| 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 | Interactive Brokers | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 659 | |
| Charting - Indicators / Studies (Total) | 33 | 155 | |
| Charting - Drawing Tools (Total) | 20 | 85 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | Interactive Brokers | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 33 | 97 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IG | Interactive Brokers | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | Yes | Yes | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | Interactive Brokers | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IG | Interactive Brokers | |
|---|---|---|---|
| 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 | Interactive Brokers Review |
| Overall | IG | Interactive Brokers | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | Interactive Brokers Review |
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