Written by ForexBrokers.com
In this head to head comparison of IG vs FOREX.com, 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 and FOREX.com are both prominent players in the online brokerage space, each with decades of experience in the industry, as IG was established in 1974 and FOREX.com in 1999. Both companies are publicly traded, which means they have to meet certain standards for financial transparency. However, only IG operates as a bank, while FOREX.com does not. This distinction can be important for traders who prioritize the security of dealing with a banking institution.
When it comes to regulatory credibility, IG holds 8 Tier-1 licenses and 2 Tier-2 licenses, while FOREX.com is close behind with 7 Tier-1 and 1 Tier-2 licenses. This signals a high level of trust for both platforms. Indeed, each company has earned a perfect Trust Score of 99 from ForexBrokers.com, indicating they are both highly trusted brokers. This level of regulatory adherence ensures that investors can feel secure when trading with either platform.
| Feature |
IG
|
FOREX.com
|
|---|---|---|
| Year Founded | 1974 | 1999 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 7 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees of online brokers IG and FOREX.com, IG stands out with a five-star rating and ranks 8th out of 62 brokers in this category. IG caters well to active traders with its Forex Direct accounts, offering average spreads of around 0.62 pips on the EUR/USD pair as of July 2023. The all-in cost is approximately 0.82 pips, factoring in a small per-trade commission. For high-volume traders in eligible regions, IG provides a premium trader program that offers significant rebates and benefits based on trading volumes. Moreover, IG’s DMA account, also offering competitive spreads, is accessible with a £1,000 minimum and features reduced per-side commissions for high-volume traders.
FOREX.com, with a 4.5-star rating and 13th ranking by ForexBrokers.com in the Commissions and Fees category, presents a competitive, though slightly more expensive, offering compared to industry averages, particularly for US traders. The Standard account shows a rather high spread of 1.4 pips for the EUR/USD pair in the US as of July 2023. Their RAW account, more aligned with active traders, showcases lower initial spreads of 0.13 pips but includes a commission that brings the all-in cost up. For those trading over $2 billion monthly, FOREX.com offers spread rebates, making it more appealing to very high-volume traders.
In summary, IG appears to deliver better value with lower spreads and enticing rebate programs for active traders, while FOREX.com, although slightly pricier, provides diverse account options and execution methods. For traders outside the US seeking competitive pricing, FOREX.com’s offerings align well with high-volume needs, especially through its RAW account’s volume-based rebates.
| Feature |
IG
|
FOREX.com
|
|---|---|---|
| Minimum Deposit | £250.00 | $100 |
| Average Spread EUR/USD - Standard | 0.98 | 1.4 |
| All-in Cost EUR/USD - Active | 0.82 | 0.9 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to the range of investments offered by online brokers, IG and FOREX.com both provide extensive options, but they cater to slightly different needs. IG stands out with an impressive array of 19,537 tradeable symbols, offering 97 forex pairs and the ability to access exchange-traded securities both from U.S. and international exchanges. This means clients can invest directly in popular companies such as Apple and Vodafone. Furthermore, IG allows trading in cryptocurrency derivatives, although it doesn't support the purchase of actual cryptocurrencies or copy trading. FOREX.com, on the other hand, provides access to 5,500 symbols and 91 forex pairs, along with cryptocurrency derivatives, but it does not offer exchange-traded securities on U.S. or international exchanges.
Despite their differences, both IG and FOREX.com are rated highly for their range of investments, each receiving a 5-star rating. However, in a broader industry ranking by ForexBrokers.com, IG surpasses FOREX.com by securing the 4th spot while FOREX.com holds the 7th position out of 62 brokers. This distinction highlights IG's broader investment range, making it a substantial choice for those looking to diversify their portfolios across various markets. Nonetheless, both platforms provide proficient options for forex and CFD trading, making them reliable choices depending on your investment preferences and objectives.
| Feature |
IG
|
FOREX.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 5500 |
| Forex Pairs (Total) | 97 | 91 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | No |
| Cryptocurrency (Physical) | No | 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.
Both IG and FOREX.com excel in providing comprehensive trading platforms and tools, each offering traders a rich set of features tailored to enhance their trading experience. Both brokers offer free demo accounts, allowing users to practice trading without financial risk. They also provide proprietary platforms, developed in-house, alongside a Windows-based desktop download and web-based platform for seamless trading. While both use the popular MetaTrader 4, only FOREX.com goes a step further by offering MetaTrader 5. In terms of charting tools, IG and FOREX.com allow trading directly from stock charts. However, FOREX.com stands out with a significantly larger number of drawing tools, offering 239 compared to IG’s 20. For watch lists, FOREX.com again provides more customization with 20 columns, whereas IG offers 5.
In terms of ratings and rankings, both IG and FOREX.com shine with a perfect five-star rating for their trading platforms and tools. However, IG edges out in ranking, securing the #2 spot out of 62 brokers per ForexBrokers.com, compared to FOREX.com’s #7 ranking. Despite their competitive similarities, FOREX.com lacks certain functionalities such as copy trading, DupliTrade, and ZuluTrade, mirroring IG’s limitations in these areas. These factors create subtle distinctions between the two, leaving traders to choose based on specific needs and preferences.
| Feature |
IG
|
FOREX.com
|
|---|---|---|
| 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 | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 88 |
| Charting - Drawing Tools (Total) | 20 | 239 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 20 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IG and FOREX.com both provide comprehensive mobile trading apps for Android and iPhone users, making it convenient for everyone to manage investments directly from their mobile devices. Whether you're dealing in stocks or forex, both platforms enable price alerts, ensuring you never miss a market move. Additionally, the apps sync watchlists seamlessly with online accounts, offering a cohesive and streamlined user experience. This means updates to your watchlist on your phone will reflect on your online account, and vice versa.
However, when it comes to technical studies for charting, FOREX.com stands out by offering 88 compared to IG’s 33, potentially offering more insights for technical traders. Both platforms support drawing trendlines, viewing different time frames, and auto-saving chart drawings, adding flexibility for detailed analysis. Creating watchlists with real-time quotes is also a common feature, empowering timely decisions. Although both apps receive top ratings, IG is ranked #1 for mobile trading apps by ForexBrokers.com, whereas FOREX.com follows closely at #3.
| Feature |
IG
|
FOREX.com
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 88 |
| 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.
When it comes to market research, both IG and FOREX.com provide valuable insights, including daily market commentary and forex news from reputable sources like Bloomberg and Reuters. Both also offer sentiment-based trading tools, economic calendars, and a variety of other resources that keep traders informed about global market trends. However, IG stands out with additional research capabilities, featuring tools from companies like Autochartist and TipRanks, which are not available with FOREX.com. These tools offer detailed technical and fundamental analysis options that can be critical for more in-depth research.
FOREX.com, although slightly behind in diversity of research tools, holds its ground by offering resources from Trading Central, which IG does not. This gives traders access to highly regarded technical analytics. The research offering from FOREX.com earns it a respectable 4.5-star rating. However, IG receives a perfect 5-star rating and ranks as the second-best among 62 brokers for research according to ForexBrokers.com. In comparison, FOREX.com ranks at number nine, highlighting the slight edge IG has in providing comprehensive and varied market research options.
| Feature |
IG
|
FOREX.com
|
|---|---|---|
| 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 exploring educational resources in the realm of online trading for beginners, both IG and FOREX.com emerge as strong contenders, providing well-rounded offerings. IG delivers a comprehensive suite of educational materials, including over 10 articles, videos, and recorded webinars focused on forex and CFDs. Beginners can also benefit from at least 10 specifically tailored videos that simplify trading concepts. Monthly live webinars supplemented by a searchable archive of past sessions offer continuous learning opportunities. Additionally, an expansive investor dictionary enriches one's understanding with clear definitions of over 50 investing terms. This thorough approach to education has earned IG a remarkable 5-star rating and placed it at the pinnacle, ranking #1 among 62 brokers for its educational offerings according to ForexBrokers.com.
Similarly, FOREX.com stands out with an extensive educational platform, offering resources such as articles, videos, and archived webinars, ensuring a solid foundational understanding of trading for beginners. With monthly webinars and a deep library of beginner and advanced trading videos, FOREX.com caters to traders at various experience levels. Their academic support includes a detailed investor dictionary, further aiding in the comprehension of financial terminologies. Although rated slightly lower with 4.5 stars, FOREX.com still secures an impressive #4 rank among global brokers for education, reflecting its commitment to nurturing informed trading decisions.
| Feature |
IG
|
FOREX.com
|
|---|---|---|
| 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 62 of the best forex brokers, our research and account testing finds that IG is better than FOREX.com. IG finished with an overall rank of #1, while FOREX.com finished with an overall rank of #5.
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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FOREX.com
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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When comparing online brokers IG and FOREX.com, neither provides the option to purchase actual (delivered) cryptocurrency, but both offer the capability to trade cryptocurrency derivatives.
Both IG and FOREX.com provide various deposit and withdrawal options including ACH or SEPA transfers, PayPal, Visa or Mastercard, and bank wires, but neither supports Skrill transactions.
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 | FOREX.com | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | FOREX.com Review |
| Broker Screenshots | IG | FOREX.com | |
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| Regulation | IG | FOREX.com | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1974 | 1999 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 7 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IG | FOREX.com | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | No | |
| 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 | FOREX.com | |
|---|---|---|---|
| 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 | FOREX.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 5500 | |
| Forex Pairs (Total) | 97 | 91 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | No | |
| Cryptocurrency (Physical) | No | 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 | FOREX.com | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1.4 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.9 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | FOREX.com | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | IG | FOREX.com | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | FOREX.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 20 | |
| Charting - Indicators / Studies (Total) | 33 | 88 | |
| Charting - Drawing Tools (Total) | 20 | 239 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | FOREX.com | |
|---|---|---|---|
| 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 | 88 | |
| 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 | FOREX.com | |
|---|---|---|---|
| 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 | FOREX.com | |
|---|---|---|---|
| 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 | FOREX.com | |
|---|---|---|---|
| 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 | FOREX.com Review |
| Overall | IG | FOREX.com | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | FOREX.com Review |
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