Written by ForexBrokers.com
In this head to head comparison of IG vs IronFX, 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.
IG, established in 1974, is a well-regarded online broker known for its high level of trust and regulatory compliance. It is publicly traded and operates as a bank, offering a secure environment for investors. IG holds an impressive eight Tier-1 licenses, which are the most trustworthy according to ForexBrokers.com. Additionally, it has two Tier-2 licenses. With a perfect Trust Score of 99, IG is categorized as highly trusted, indicating an exceptional level of safety for its clients.
In comparison, IronFX, founded in 2010, is not publicly traded and is not a bank. Despite being a newer player in the industry, IronFX holds three Tier-1 licenses, suggesting a strong commitment to safety and security. However, it does not possess any Tier-2 licenses. With a Trust Score of 83, IronFX is considered trusted by ForexBrokers.com, offering a solid option for those seeking a reliable broker, albeit at a level below the trust rating of IG.
| Feature |
IG
|
IronFX
|
|---|---|---|
| Year Founded | 1974 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 3 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing IG and IronFX on their commissions and fees, IG stands out for its scalability and specialized account offerings. IG provides a versatile trading environment, featuring spreads on its Forex Direct account averaging 0.62 pips in July 2023, with an all-in cost of 0.82 pips once a per-trade commission is included. For CFD accounts, IG's average spread was 0.98 pips globally in the same period. Volume traders can benefit from IG’s active-trader rebate program with potential rebates reaching 20%. Additionally, its DMA account through Forex Direct offers even more competitive pricing, with tiered discounts based on trading volume. This flexible pricing structure earns IG a 5-star rating in commissions and fees and an impressive #8 ranking among 63 brokers.
IronFX, on the other hand, presents a pricing model that could see further refinement. The standard variable spread account lists typical spreads of 1.8 pips, which are higher than the industry average. The zero fixed-spread account offers spreads starting at zero with an $18 per lot commission, although these spreads can widen to 3 pips overnight. While IronFX provides several account variations, its pricing strategy results in a 4-star rating and a #46 ranking out of 63 brokers in the commissions and fees category.
Overall, IG delivers a more cost-effective and versatile trading experience with flexible account types and appealing rebates, making it a preferred choice for active traders. In contrast, IronFX's pricing may appeal to traders who value account variety but are willing to tolerate higher spreads and commissions.
| Feature |
IG
|
IronFX
|
|---|---|---|
| Minimum Deposit | £250.00 | $50 |
| Average Spread EUR/USD - Standard | 0.98 | 1.2 |
| All-in Cost EUR/USD - Active | 0.82 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IG and IronFX both provide forex trading options, available as CFDs or spot contracts. However, IG stands out with a significantly larger offering, boasting 19,537 tradeable symbols and 97 forex pairs, compared to IronFX's 340 symbols and 83 forex pairs. What's more, IG offers the ability to invest directly in exchange-traded securities on both U.S. and international exchanges. This means clients can purchase shares of companies like Apple and Vodafone outright, while IronFX does not provide this option.
When looking at cryptocurrency options, IG allows investors to buy both delivered cryptocurrencies and cryptocurrency derivatives, whereas IronFX restricts access to only cryptocurrency derivatives. Despite IronFX offering copy trading, a feature IG lacks, IG still pulls ahead with a perfect 5-star rating for its range of investments, ranking 4th out of 63 brokers. In comparison, IronFX holds a 3.5-star rating and is ranked 51st, demonstrating IG's more extensive range of investment opportunities.
| Feature |
IG
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 340 |
| Forex Pairs (Total) | 97 | 83 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| 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 offered by IG and IronFX, both brokers provide a comprehensive suite of services designed to cater to traders of all levels. IG distinguishes itself with its proprietary platform, which is developed in-house, while IronFX does not offer a proprietary platform but does provide a Windows-based desktop download and web-based platform, similar to IG. Both brokers offer MetaTrader 4 (MT4) and have demo accounts for practice trading, enhancing their appeal to beginners and experienced traders alike.
Despite their similarities, IG and IronFX have notable differences that influence their rankings and ratings in the trading community. IG, for example, excels in offering a broader range of drawing tools for charting and allows trading directly from stock charts. It also stands out with a five-star rating for its trading platforms and tools, achieving the #2 rank out of 63 brokers according to ForexBrokers.com. In contrast, IronFX, rated at 3.5 stars and ranked #61, offers unique features like copy trading and provides more customizable columns for watch lists, making it potentially more appealing to those interested in social trading aspects.
| Feature |
IG
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing IG and IronFX for mobile trading apps, both platforms offer apps for iPhone and Android devices, ensuring easy access for traders on the go. Both apps provide vital features like stock and forex price alerts and allow drawing of trendlines on charts. However, IG sets itself apart with seamless watchlist symbol syncing between its mobile app and online account, which IronFX lacks. Chart enthusiasts might also appreciate that IG offers 33 technical studies, slightly more than IronFX's 30.
IG shines with a five-star rating for its mobile trading app, whereas IronFX holds a 3.5-star rating. This higher rating is reflected in IG's impressive rank as the top app in the Mobile Trading Apps category by ForexBrokers.com, compared to IronFX's lower placement at 62 out of 63 brokers. Both apps ensure real-time quotes are available in their watchlists, and they support viewing multiple time frames on charts, with IG's app auto-saving drawings for convenience. Overall, while both are equipped with essential tools, IG stands out as the preferred choice for comprehensive mobile trading solutions.
| Feature |
IG
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both IG and IronFX provide daily market commentary and access to forex news from top-tier sources such as Bloomberg and Reuters, ensuring traders are well-informed. However, their offerings differ when it comes to specific tools and resources. IG provides access to Autochartist's technical and fundamental analysis tools, while IronFX does not. Conversely, IronFX offers tools from Trading Central, which are not available on IG. In addition, IG offers sentiment-based trading tools and resources from TipRanks and Acuity Trading, giving it an edge in diverse research capabilities.
Both brokers offer economic calendars to keep traders updated on global events. In terms of overall research capabilities as rated by ForexBrokers.com, IG excels with a five-star rating and a rank of second out of 63 brokers, reflecting its comprehensive research features. IronFX, while still strong, holds a four-star rating and ranks 28th, indicating a solid yet slightly less expansive offering in market research.
| Feature |
IG
|
IronFX
|
|---|---|---|
| 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 | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing educational resources for forex and CFD traders, IG and IronFX offer distinct strengths. IG provides a wealth of learning opportunities for beginners, including over 10 educational materials, frequent online webinars, and a comprehensive library of past webinars. This broker also offers a wide range of beginner-focused educational videos and an investor dictionary with over 50 terms. Additionally, IG supports advanced traders with a selection of videos designed for those with more experience. As a result, IG is highly regarded for its educational offerings, earning a top rating of 5 stars and being ranked number one in education among 63 brokers by ForexBrokers.com.
IronFX also excels in delivering educational content with over 10 pieces dedicated to forex and CFDs. This broker ensures that beginner traders have access to at least 10 introductory videos and a dictionary with more than 50 investing terms. However, it doesn't provide monthly webinars or a selection of advanced educational videos aimed at seasoned traders. While IronFX offers a searchable archive of previously recorded webinars, its educational resources receive a slightly lower rating of 4 stars, ranking 44th in the education category by ForexBrokers.com among 63 brokers. Overall, both IG and IronFX present valuable learning tools, but IG is more comprehensive and better suited for both novice and advanced traders.
| Feature |
IG
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| 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 IronFX. IG finished with an overall rank of #1, while IronFX finished with an overall rank of #48.
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
|
IronFX
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 83 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
IG provides the option to purchase actual delivered cryptocurrency along with cryptocurrency derivatives, while IronFX offers only cryptocurrency derivatives without the ability to buy the actual cryptocurrency.
IG supports ACH or SEPA transfers, PayPal, Visa or Mastercard, and bank wires for depositing or withdrawing funds, while IronFX offers Visa or Mastercard and bank wires, but includes Skrill instead of ACH/SEPA transfers or PayPal.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | IG | IronFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | IG Review |
| Broker Screenshots | IG | IronFX | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| Regulation | IG | IronFX | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 1974 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 3 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IG | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 340 | |
| Forex Pairs (Total) | 97 | 83 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.82 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | IronFX | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| 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 | IronFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | IronFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 7 | |
| Charting - Indicators / Studies (Total) | 33 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 33 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IG | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IG | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IG | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | IG Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill