Written by ForexBrokers.com
In this head to head comparison of IG vs XM Group, 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, a company founded in 1974, is a well-established online broker that is publicly traded and operates as a bank. This firm boasts an impressive regulatory framework with 8 Tier-1 licenses considered highly trusted, and an additional 2 Tier-2 licenses. With a top-notch Trust Score of 99 out of 99 according to ForexBrokers.com, IG is recognized as a highly trusted broker, reflecting its commitment to safety and transparency in the financial industry.
In contrast, XM Group entered the scene later, in 2009, and is not publicly traded nor operates as a bank. However, it has built a solid reputation with its 4 Tier-1 and 1 Tier-2 licenses, adhering to strong regulatory standards. XM Group has earned a Trust Score of 93 out of 99 from ForexBrokers.com, placing it in the highly trusted category. Despite the differences in their profiles, both IG and XM Group provide secure and reliable trading environments for their clients.
| Feature |
IG
|
XM Group
|
|---|---|---|
| Year Founded | 1974 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 4 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing commissions and fees, IG stands out with its competitive pricing structure, particularly favoring active traders. Rated 5 stars and ranked #8 by ForexBrokers.com, IG offers a variety of execution methods, with its Forex Direct accounts providing attractive pricing for frequent traders. The average spread for these accounts is 0.62 pips, with an all-in cost of 0.82 pips counting the commission. Furthermore, traders can take advantage of IG’s tiered active trader rebate program, giving up to a 20% rebate for high-volume trading, which can yield effective spreads as low as 0.60 pips.
IG also offers a Direct Market Access (DMA) account for seasoned traders looking for even lower costs, leveraging the L2 Dealer platform. The DMA account’s average spreads were 0.62 pips for the EUR/USD in July 2023, with a commission rate starting at $60 per million, dropping to $10 per million for traders handling over one billion in volume, resulting in an effective spread of 0.82 pips. This account requires a minimal deposit of £1,000 and employs tiered pricing based on trading volume, making it a desirable choice for high-frequency traders.
XM Group, on the other hand, offers a less cost-effective standard account structure and does not publish average spreads for its commission-based XM Zero account. Rated 4 stars and ranked #33 by ForexBrokers.com, XM’s standard account spreads are deemed expensive, lacking the transparency or competitive edge that IG provides. While XM may still cater to specific needs, traders looking for more economical options and greater rebates might find IG’s offerings more appealing, especially those who operate with higher trading volumes.
| Feature |
IG
|
XM Group
|
|---|---|---|
| Minimum Deposit | £250.00 | $5 |
| Average Spread EUR/USD - Standard | 0.98 | 1.6 |
| All-in Cost EUR/USD - Active | 0.82 | 0.8 |
| Active Trader or VIP Discounts | Yes | No |
| 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.
When it comes to the variety of investments, IG stands out with an impressive offering. With 19,537 tradeable symbols, IG provides a vast selection compared to XM Group's 1,394 symbols. Both platforms cater to forex traders, with IG offering 97 forex pairs versus XM Group's 55. For those interested in stocks, both brokers allow trading of exchange-traded securities on U.S. and international exchanges, including popular companies like Apple and Vodafone. While IG does not support copy trading, a feature XM Group includes, IG does allow buying actual cryptocurrencies in addition to cryptocurrency derivatives, something XM Group limits to derivatives only.
From an investment range perspective, IG has earned a 5-star rating, ranking 4th out of 63 brokers, according to ForexBrokers.com. XM Group follows closely with a 4.5-star rating and a 24th place ranking. These ratings reflect the robust selection and trading opportunities IG offers, making it a more comprehensive choice for diverse investment needs. Whether you're interested in forex, stocks, or cryptocurrencies, both brokers provide extensive trading options, though IG offers a broader array of choices for investors seeking variety.
| Feature |
IG
|
XM Group
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 1394 |
| Forex Pairs (Total) | 97 | 55 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| 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.
IG and XM Group are both popular online brokers offering a range of trading platforms and tools designed to assist traders of all levels. Both offer free virtual demo accounts, allowing users to practice trading without real-world consequences. IG stands out with its proprietary platform developed in-house, while XM Group relies solely on third-party platforms. Both brokers provide web-based and Windows-based applications for a seamless user experience. However, IG does not support copy trading, whereas XM Group offers this feature, providing a way to replicate successful trader strategies.
When it comes to popular platforms like MetaTrader, IG offers MetaTrader 4, while XM Group supports both MetaTrader 4 and 5, catering to traders who prefer the advanced features of MT5. Charting tools also show slight differences: IG features 20 drawing tools versus XM Group's 15, and they both offer trading directly from stock charts. Watchlist capabilities are slightly more extensive with XM Group, boasting 7 fields compared to IG's 5. Overall, IG excels with a 5-star rating and ranks as the #2 broker in Trading Platforms and Tools by ForexBrokers.com, while XM Group holds a respectable 4-star rating and is placed at #32.
| Feature |
IG
|
XM Group
|
|---|---|---|
| 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 | Yes |
| 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.
For mobile trading enthusiasts, both IG and XM Group offer iPhone and Android applications, ensuring traders can stay connected and make trades on the go. Both apps provide essential features such as stock and forex price alerts, the ability to draw trendlines, and the option to view charts across multiple time frames like daily, weekly, or intraday. Also, users of either app can create watchlists with real-time quotes, and changes to these watchlists remain synced between the mobile app and online account, providing a seamless trading experience.
However, some differences set these apps apart. IG's mobile app includes 33 technical studies for charting, slightly edging out XM Group, which offers 30. Additionally, IG's app ensures that users' drawings on charts auto-save, whereas XM Group does not have this feature. Reflecting these differences, IG's app is highly rated with a perfect score of 5 stars and holds the top position in the Mobile Trading Apps category among 63 brokers on ForexBrokers.com, while XM Group's app has a commendable rating of 4 stars and ranks at #30.
| Feature |
IG
|
XM Group
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 30 |
| 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.
Both IG and XM Group offer rich market research features, including daily market commentary and access to top-tier forex news from sources like Bloomberg and Reuters. While both brokers provide sentiment-based trading tools and economic calendars to keep users informed of global events, their specific research tools differ. IG provides tools from Autochartist and market insights from TipRanks, enhancing its analytical capabilities. XM Group, on the other hand, utilizes Trading Central for in-depth analysis tools, offering a different perspective for traders.
Despite having different specific research tools, both brokers are highly rated for their research offerings, each receiving a perfect 5-star rating. However, IG emerges as a more prominent player in the research category, securing the #2 rank among 63 brokers according to ForexBrokers.com. XM Group, although robust in its offerings with an #8 rank, trails IG slightly in terms of overall research excellence. Whether you're looking for specialized tools or comprehensive news coverage, both IG and XM Group present compelling options for informed trading decisions.
| Feature |
IG
|
XM Group
|
|---|---|---|
| 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 | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for those new to trading, both IG and XM Group provide comprehensive content, making them excellent choices for beginners. Both platforms offer well over ten pieces of educational material, including articles, videos, and archived webinars, focusing on forex and CFDs. They also host monthly online webinars, which can be a crucial learning tool for those starting in trading, and maintain a searchable archive of past webinar recordings. Whether you're looking for insights as a beginner or more advanced strategies, IG and XM Group each have more than ten targeted educational videos to enhance your trading knowledge.
Where these two brokers differ is in the scope of their resource offerings. IG sets itself apart by providing an investor dictionary with over 50 investing term definitions, a feature XM Group does not offer. Both companies earn a perfect five-star rating for their educational resources. However, according to ForexBrokers.com, IG holds the top spot in education out of 63 brokers, whereas XM Group is ranked seventh. This distinction highlights IG's extensive commitment to providing high-quality educational content for traders at all experience levels.
| Feature |
IG
|
XM Group
|
|---|---|---|
| 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 | No |
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 XM Group. IG finished with an overall rank of #1, while XM Group finished with an overall rank of #17.
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
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XM Group
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 93 |
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IG provides both the option to buy actual delivered cryptocurrency and cryptocurrency derivatives, while XM Group only offers the ability to purchase cryptocurrency derivatives, not the actual cryptocurrency.
When comparing online brokers, IG supports ACH and SEPA transfers, PayPal, Visa, Mastercard, and bank wires for fund transactions, while XM Group offers Visa, Mastercard, and bank wires but only supports Skrill among the payment methods mentioned, lacking options like ACH, SEPA, and 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.
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0 of 5| Overall Rating | IG | XM Group | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | IG Review | XM Group Review |
| Broker Screenshots | IG | XM Group | |
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| Regulation | IG | XM Group | |
|---|---|---|---|
| Trust Score | 99 | 93 | |
| Year Founded | 1974 | 2009 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 4 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IG | XM Group | |
|---|---|---|---|
| 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 | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| 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 | XM Group | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | IG | XM Group | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 1394 | |
| Forex Pairs (Total) | 97 | 55 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| 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 | XM Group | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1.6 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.8 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | XM Group | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $5 | |
| 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 | XM Group | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | XM Group | |
|---|---|---|---|
| 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 | XM Group | |
|---|---|---|---|
| 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 | 30 | |
| 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 | XM Group | |
|---|---|---|---|
| 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 | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | XM Group | |
|---|---|---|---|
| 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 | No |
| Major Forex Pairs | IG | XM Group | |
|---|---|---|---|
| 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 | XM Group Review |
| Overall | IG | XM Group | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | IG Review | XM Group Review |
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