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.
Established in 1974, IG is a seasoned player in the online brokerage industry, offering a high level of trust and security. With a perfect Trust Score of 99, IG is regarded as highly trustworthy by ForexBrokers.com. The company is publicly traded and operates as a bank, further enhancing its credibility. IG boasts a strong regulatory standing with eight Tier-1 licenses and two Tier-2 licenses, reflecting the company's commitment to maintaining a secure trading environment for its clients.
By contrast, XM Group, founded in 2009, holds a reputable yet slightly lower Trust Score of 88, placing it in the trusted category. Although not publicly traded or a bank, XM Group still maintains a significant level of trust with four Tier-1 licenses and one Tier-2 license. This demonstrates XM Group’s dedication to upholding trusted practices in the trading landscape, providing assurance to its user base.
| 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 comparing IG and XM Group in terms of their range of investments, both offer forex trading either as a CFD or spot contract, providing versatility for traders. IG stands out with an impressive total of 19,537 tradeable symbols and 97 forex pairs, whereas XM Group offers 1,394 tradeable symbols and 55 forex pairs. Additionally, both platforms provide the option to purchase exchange-traded securities, like Apple shares on U.S. exchanges and Vodafone shares on international exchanges. However, when it comes to cryptocurrency options, IG allows clients to buy actual cryptocurrencies, while XM Group only offers cryptocurrency derivatives.
Despite these differences, IG and XM Group each have their unique strengths. Although IG does not offer copy trading, which might appeal to some investors, it nevertheless receives a stellar 5-star rating for its range of investments. In contrast, XM Group is rated 4.5 stars in the same category but offers copy trading to its users. According to ForexBrokers.com, IG ranks #4 out of 63 brokers for investment range, whereas XM Group holds the #23 spot. This distinction highlights IG's broader spectrum of offerings, making it a top choice for those seeking a wide variety of trading opportunities.
| 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.
When comparing trading platforms and tools, IG and XM Group both offer simulated trading experiences with their free demo accounts. However, IG sets itself apart by providing a proprietary platform, developed in-house, while XM Group relies on third-party platforms. Both brokers offer Windows-based desktop and web-based trading platforms, ensuring versatile access for all users. While IG does not support copy trading, XM Group does, giving its users more collaborative options. Both brokers support MetaTrader 4 (MT4), but only XM Group offers the upgraded MetaTrader 5 (MT5), which might be a deciding factor for traders seeking the latest in trading technology.
Charting capabilities are a significant consideration; IG shines with 20 drawing tools compared to XM Group’s 15, and they both allow trade execution directly from stock charts. Watch list customization slightly favors XM Group, offering seven fields to IG’s five. IG’s excellence is reflected in its five-star rating for trading platforms and tools, and its impressive rank of #2 among 63 brokers on ForexBrokers.com. In contrast, XM Group earns four stars and ranks at #31. These distinctions make IG a top choice for traders who prioritize a robust and proprietary trading environment, while XM Group may appeal to those who value MT5 and copy trading features.
| 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.
When comparing the mobile trading apps of IG and XM Group, both platforms offer comprehensive features for trading on the go. They cater to both iPhone and Android users, providing apps that include stock and forex price alerts. Traders keen on keeping their watchlists updated will appreciate that both IG and XM Group sync watchlists with their online accounts. This feature makes it easy to track changes seamlessly across devices. While both platforms offer the ability to draw trendlines and check various time frames on charts, a standout difference is that IG auto-saves these drawings, heightening user convenience. Also, IG slightly outshines XM Group in terms of charting enhancements, offering 33 technical studies to XM Group's 30.
Regarding overall user satisfaction, IG's mobile app is highly ranked, boasting a five-star rating, whereas XM Group follows closely with a four-star rating. ForexBrokers.com ranked IG as the leading mobile app among 63 brokers, while XM Group was placed at 29. Both apps allow for the creation of watchlists with real-time quotes, ensuring that traders have the latest information at their fingertips. This comparative overview highlights that while both platforms present strong mobile trading options, IG has a slight edge with its higher features rating and top market ranking, making it a preferred choice for mobile traders.
| 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
|
XM Group
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 88 |
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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 | 88 | |
| 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 | 88 | |
| 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 | No | |
| 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) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| 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 | 88 | |
| Winner | check_circle | ||
| Review | IG Review | XM Group Review |
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