Written by ForexBrokers.com
In this head to head comparison of IG vs Xtrade, 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.
When comparing the online brokers IG and Xtrade, several key differences emerge regarding their trustworthiness and regulatory standings. IG, established in 1974, boasts a Trust Score of 99 out of 99, reflecting its high level of reliability. As a publicly traded company on a stock exchange and functioning as a bank, IG holds 8 Tier-1 licenses, regarded as highly trustworthy, along with 2 Tier-2 licenses. These credentials signify strong regulatory oversight and provide peace of mind for investors.
On the other hand, Xtrade, founded in 2003, demonstrates an average risk profile with a Trust Score of 74. Unlike IG, Xtrade isn't publicly traded nor does it operate as a bank, which could be factors for potential customers to consider. Although it holds 1 Tier-1 license and 1 Tier-2 license, indicating some level of trustworthiness, these figures are modest compared to IG's extensive licensing. For those prioritizing regulatory assurance, IG stands out as a more trusted choice.
| Feature |
IG
|
Xtrade
|
|---|---|---|
| Year Founded | 1974 | 2003 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 1 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
IG is a prominent player in the online brokerage market, celebrated for offering competitive pricing options specifically geared towards active traders. For its Forex Direct accounts, IG's offerings are attractive with spreads averaging 0.62 pips as of July 2023. When trading volume is considered, the all-in cost becomes 0.82 pips once the per-trade commission, equivalent to 0.2 pips, is factored in. It also provides a three-tier active trader rebate program for EU professional traders, allowing rebates up to 20% on spreads, significantly lowering costs for high-volume transactions. IG is rated 5 stars for its commissions and fees and ranks 8th out of 63 brokers in this category on ForexBrokers.com.
Xtrade, on the other hand, falls far behind IG in terms of financial transparency and competitive pricing. Unlike IG, Xtrade does not make average spread data readily available to the public. This lack of data can create uncertainty for traders seeking cost-efficient trading options. Consequently, Xtrade has earned a 2.5-star rating for its commissions and fees. It is placed at the bottom, ranking 63rd out of 63 brokers for this category on ForexBrokers.com.
In summary, if competitive pricing and transparent fees are paramount, IG clearly outshines Xtrade. With a commendable 5-star rating and an impressive 8th position ranking, IG provides a cost-effective trading environment, especially for volume traders. In contrast, Xtrade's lack of available spread data and lower ranking may deter those prioritizing clear and competitive fee structures.
| Feature |
IG
|
Xtrade
|
|---|---|---|
| Minimum Deposit | £250.00 | $250 |
| Average Spread EUR/USD - Standard | 0.98 | N/A |
| All-in Cost EUR/USD - Active | 0.82 | N/A |
| 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 Xtrade for their investment offerings, IG stands out as the more versatile option. IG provides access to a vast array of over 19,500 tradeable symbols, including 97 forex pairs, and supports forex trading both as CFDs and spot contracts. For those interested in direct equity investments, IG offers exchange-traded securities on major U.S. and international exchanges, allowing users to purchase shares in companies like Apple and Vodafone. Additionally, IG supports both direct cryptocurrency purchases and cryptocurrency derivatives, giving it a well-rounded edge in the investment market. Consequently, IG has earned a five-star rating in the range of investments category, securing the #4 spot among 63 brokers as ranked by ForexBrokers.com.
In contrast, Xtrade offers a more limited selection, with 482 tradeable symbols and 56 forex pairs. While Xtrade enables forex trading as CFDs and provides options for trading cryptocurrency derivatives, it falls short by not supporting the purchase of actual cryptocurrencies or exchange-traded securities on U.S. or international exchanges. Xtrade's offering results in a 3.5-star rating for its range of investments and a rank of #49 in the same category on ForexBrokers.com. Thus, for investors seeking a broader array of investment choices, IG presents itself as the more comprehensive platform.
| Feature |
IG
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 482 |
| Forex Pairs (Total) | 97 | 56 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | No |
| 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 Xtrade both offer traders the opportunity to practice their skills with a free virtual demo account and provide in-house developed trading platforms. However, IG stands out by providing a Windows-based desktop platform, which is not available with Xtrade. Both brokers offer the convenience of web-based trading, but traders looking to use the popular MetaTrader 4 will find it available only with IG. Neither platform supports copy trading options or popular third-party services like DupliTrade and ZuluTrade. In terms of charting tools, IG provides 20 drawing tools, whereas Xtrade offers a more extensive set with 100 drawing tools.
When it comes to trading directly from a stock chart, both IG and Xtrade facilitate this feature. IG offers a streamlined experience with 5 columns for watching market trends, while Xtrade provides more customization with 9 columns. Despite these features, IG is rated higher for its trading platforms and tools, earning 5 stars compared to Xtrade's 3.5 stars. ForexBrokers.com also ranks IG significantly higher, placing it second out of 63 brokers, whereas Xtrade holds the 58th position. Overall, traders seeking more advanced charting and trading options might find IG a more appealing choice.
| Feature |
IG
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| 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 | N/A |
| Charting - Drawing Tools (Total) | 20 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of IG and Xtrade, both platforms are available on iPhone and Android devices. However, IG's app comes with several advanced features that give it an edge over Xtrade. IG users benefit from stock and forex price alerts, a feature absent in Xtrade's app. Watchlists can be synced between IG's mobile app and online account, ensuring seamless updates, a benefit not offered by Xtrade. Additionally, IG provides 33 technical studies for charting, while Xtrade does not specify the number of studies available.
IG's mobile app also allows users to draw trendlines, view multiple timeframes, and auto-save chart drawings, enhancing the overall trading experience. In contrast, Xtrade lacks these functionalities, potentially limiting its appeal to advanced traders. Moreover, the ability to create a watchlist with real-time quotes is available on IG's platform, a feature Xtrade does not offer. These differences in capabilities contribute to IG's superior rating of 5 stars for mobile trading apps and a top ranking of #1 out of 63 brokers, compared to Xtrade's 4-star rating and #53 rank, according to ForexBrokers.com.
| Feature |
IG
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
IG and Xtrade both offer daily market commentary and provide forex news from renowned sources like Bloomberg and Reuters, ensuring traders stay informed with up-to-date information. However, IG sets itself apart by integrating advanced tools such as Autochartist for technical analysis and boasting a sentiment-based trading tool that highlights position ratios across various instruments. In contrast, Xtrade does not offer these additional features, which could limit the depth of analysis available to users.
Further adding to its comprehensive suite, IG includes research support from TipRanks and Acuity Trading, offering clients a well-rounded perspective on market movements. Both platforms provide economic calendars to track global events, yet IG's extensive research offerings earn it a 5-star rating and the #2 spot out of 63 brokers by ForexBrokers.com. Xtrade, while providing foundational research tools, ranks lower at #52 with a 3.5-star rating, indicating that those seeking in-depth market insights might find IG more appealing.
| Feature |
IG
|
Xtrade
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| 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 it comes to educational resources for beginners, IG stands out as a more comprehensive option compared to Xtrade. Both platforms offer at least 10 educational pieces focusing on forex or CFDs, assuring that newcomers can access essential learning materials. However, IG distinguishes itself by hosting monthly online educational webinars and providing an archive of these sessions for future reference, whereas Xtrade does not offer these features. Additionally, IG offers an array of beginner videos that dive into trading topics, while Xtrade lacks this offering. Furthermore, for advanced traders, IG provides extensive educational video content, a resource that Xtrade does not match.
IG also provides a valuable investor dictionary with over 50 investing terms, a feature that Xtrade mirrors. However, IG's commitment to educational excellence is reflected in its top ranking on ForexBrokers.com, where it holds the #1 spot out of 63 brokers, with a perfect 5-star rating for education. In contrast, Xtrade finds itself ranked at #46 with a 3.5-star rating. This highlights IG's dedication to nurturing both beginner and experienced traders through a wealth of educational resources.
| Feature |
IG
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| 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 Xtrade. IG finished with an overall rank of #1, while Xtrade finished with an overall rank of #60.
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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Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 74 |
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When comparing online brokers IG and Xtrade for cryptocurrency options, IG stands out by offering both actual delivered cryptocurrencies and cryptocurrency derivatives, whereas Xtrade provides access only to cryptocurrency derivatives, not the actual cryptocurrencies.
When comparing online brokers IG and Xtrade, IG supports ACH and SEPA transfers and PayPal for deposits and withdrawals while Xtrade does not, although both platforms accommodate Visa, Mastercard, and bank wires, with Xtrade additionally offering Skrill where IG does not.
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 | Xtrade | |
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| Trust Score | 99 | 74 | |
| Winner | check_circle | ||
| Review | IG Review | Xtrade Review |
| Broker Screenshots | IG | Xtrade | |
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| Regulation | IG | Xtrade | |
|---|---|---|---|
| Trust Score | 99 | 74 | |
| Year Founded | 1974 | 2003 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 1 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IG | Xtrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 482 | |
| Forex Pairs (Total) | 97 | 56 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | N/A | |
| All-in Cost EUR/USD - Active | 0.82 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | Xtrade | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $250 | |
| 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 | Xtrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 5 | 9 | |
| Charting - Indicators / Studies (Total) | 33 | N/A | |
| Charting - Drawing Tools (Total) | 20 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | IG | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 33 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | IG | Xtrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IG | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IG | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | IG | Xtrade | |
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| Trust Score | 99 | 74 | |
| Winner | check_circle | ||
| Review | IG Review | Xtrade Review |
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