Written by ForexBrokers.com
In this head to head comparison of IG vs FXCM, 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 FXCM are both seasoned players in the online brokerage industry, with IG having been around since 1974 and FXCM since 1999. Both companies are publicly traded, signaling transparency and accountability, but only IG also functions as a bank. When it comes to regulatory trust, IG shines brighter, holding 8 Tier-1 licenses, a higher benchmark for high trust, compared to FXCM's 4. Both firms hold 2 Tier-2 licenses, which are also considered reliable.
According to ForexBrokers.com, IG boasts an impressive Trust Score of 99 out of 99, categorizing it as highly trusted. In comparison, FXCM holds a Trust Score of 95, which still places it in the highly trusted category but just a notch below IG. This demonstrates IG's stronger regulatory framework, offering potential investors a sense of greater security when trading through their platform.
| Feature |
IG
|
FXCM
|
|---|---|---|
| Year Founded | 1974 | 1999 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 4 |
| Tier-2 Licenses | 2 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing the commissions and fees of online brokers IG and FXCM, IG distinguishes itself with scalable execution options and preferable pricing conditions for active traders. Although not a discount broker, IG offers favorable spreads close to the industry average. In July 2023, IG's spreads averaged 0.62 on its Forex Direct account, with an all-in cost of 0.82 pips after commission. Furthermore, the commission-based Forex Direct accounts provide traders access to significant discounts based on trading volume. Active trader rebates allow for a possible spread reduction of up to 20%, making IG’s offering highly competitive. IG scores a perfect rating of 5 out of 5 stars in commissions and fees, ranking 8th out of 62 brokers by ForexBrokers.com.
In comparison, FXCM's pricing is slightly higher than the industry average, particularly on its standard accounts. As of May 2024, FXCM's EUR/USD spreads averaged 0.78 for EU, UK, and Australia offers, while its commission-based accounts had an underlying spread as low as 0.28 pips. However, effective costs rise to approximately 0.74 pips due to additional commission charges. FXCM offers a structured rebate program with discounts depending on trading volume, yet this may not be available in all regions. While FXCM provides competitive terms for active traders, it doesn’t quite match the offerings of some competitors. FXCM holds a 4 out of 5-star rating in this category, ranking 24th out of the same 62 brokers.
In summary, IG's approach to commissions and fees provides greater flexibility and value for active, high-volume traders compared to FXCM. With IG's refined spread and commission structure, it offers more attractive financial incentives through active trader rebates and tiered pricing. FXCM, while offering notable active trader programs, struggles to deliver consistently competitive pricing and ranks lower in assessments. Thus, for traders prioritizing cost efficiency, IG presents a more favorable option in the market.
| Feature |
IG
|
FXCM
|
|---|---|---|
| Minimum Deposit | £250.00 | Starts from $50 |
| Average Spread EUR/USD - Standard | 0.98 | 0.78 |
| All-in Cost EUR/USD - Active | 0.82 | 0.78 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| 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 FXCM, it's evident that IG offers a broader range of investment options. IG provides access to a staggering 19,537 tradeable symbols, including 97 forex pairs, making it one of the most comprehensive platforms for trading. On the contrary, FXCM offers a more limited selection with 440 tradeable symbols and 43 forex pairs. Notably, IG allows clients to invest in exchange-traded securities on both U.S. and international exchanges, which means you can purchase shares of companies like Apple and Vodafone directly. FXCM, however, does not provide this option. Both brokers support forex trading as CFDs and offer cryptocurrency derivatives, but neither enables the purchase of actual cryptocurrencies.
IG and FXCM each offer unique strengths catering to different investor needs. While IG does not support copy trading, its extensive range of investment options earns it a top-tier rating of 5 stars for the variety in investment choices, securing the #4 spot out of 62 brokers according to ForexBrokers.com. FXCM, on the other hand, is praised for offering copy trading; however, it earns a 3.5-star rating and ranks #47, indicating its narrower selection of investment options compared to IG. Ultimately, IG stands out for investors seeking abundant options and direct securities trading, while FXCM could appeal to those interested in engaging in copy trading strategies.
| Feature |
IG
|
FXCM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 440 |
| Forex Pairs (Total) | 97 | 43 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| 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.
When it comes to trading platforms and tools, both IG and FXCM offer a wealth of features suited for both new and experienced traders. IG and FXCM each provide users with a free virtual demo account to practice trading without financial risk. Both brokers have proprietary platforms developed in-house, available through Windows desktop downloads and web-based interfaces. While both platforms support MetaTrader 4 (MT4), neither offers MetaTrader 5 (MT5). Furthermore, IG does not offer copy trading or support for ZuluTrade, whereas FXCM offers both, giving users a broader range of options for social and automated trading strategies.
IG and FXCM are rated 5 stars for their trading platforms and tools, reflecting their commitment to quality. Charting features are crucial, and while IG provides 20 drawing tools, FXCM offers 10. However, FXCM provides more comprehensive watch lists with 13 columns compared to IG’s 5. Both brokers allow for trading directly from stock charts, enhancing the user experience. Ranked by ForexBrokers.com, IG claims the #2 spot among 62 brokers, while FXCM holds a commendable #6 position, confirming their strong standings in the market.
| Feature |
IG
|
FXCM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| 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 | Yes |
| Charting - Indicators / Studies (Total) | 33 | 115 |
| Charting - Drawing Tools (Total) | 20 | 10 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 13 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading applications of IG and FXCM, both brokers offer comprehensive solutions for iPhone and Android users, supporting a wide range of features. Both apps allow users to set up stock or forex price alerts and offer watchlist symbol syncing, ensuring seamless integration with their online accounts. Users can draw trendlines and view various time frames on charts in both apps. However, IG's app distinguishes itself with a sleek user experience, boasting an impressive 33 technical studies for charting, compared to FXCM's 59 studies, and auto-saves drawings for convenience.
In terms of overall recognition, IG shines with a perfect 5-star rating for their mobile trading app, ranking it as the top app among 62 brokers according to ForexBrokers.com. While FXCM also provides a solid mobile experience with a 4.5-star rating, it ranks 16th in the same category. Both platforms allow for the creation of watchlists with real-time quotes, but IG's app stands out due to its high industry rating and top ranking, making it a preferred choice for many mobile traders.
| Feature |
IG
|
FXCM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 59 |
| 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 comparing IG and FXCM for market research, both online brokers provide daily market commentary and access to forex news from well-known sources such as Bloomberg and Reuters. IG excels in offering advanced tools like Autochartist for technical and fundamental analysis, complemented by sentiment-based trading tools and market insights from TipRanks. Moreover, IG users benefit from Acuity Trading's research tools and a comprehensive economic calendar, earning IG a top research rating of 5 stars and the second spot among 62 brokers on ForexBrokers.com.
Alternatively, FXCM delivers robust market commentary and premier forex news sources similar to IG. However, it stands out with research tools from Trading Central instead of Autochartist. While it lacks Acuity Trading tools, FXCM still provides sentiment-based tools and TipRanks insights, alongside an economic calendar. These offerings garner FXCM a commendable 4.5-star research rating, placing it 11th in the same ForexBrokers.com ranking of 62 brokers.
| Feature |
IG
|
FXCM
|
|---|---|---|
| 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 | Yes |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources of IG and FXCM for beginners, both online brokers offer a myriad of tools to kickstart your forex and CFD trading journey. IG stands out with a perfect educational rating of 5 stars, providing a comprehensive suite of more than 10 educational materials, including articles, videos, and archived webinars. They host at least one educational webinar monthly and maintain a searchable archive of past webinars, catering to various learning preferences. For novices eager to delve deeper, IG offers over 10 dedicated beginner videos and a rich investor dictionary with definitions of over 50 investing terms. This commitment to education has earned IG the top spot for education among 62 brokers ranked by ForexBrokers.com.
Similarly, FXCM also provides a strong educational foundation for those entering the world of trading, with an educational rating of 4.5 stars. FXCM offers at least 10 educational pieces focusing on forex and CFDs, alongside hosting monthly webinars and maintaining an accessible archive of recorded sessions. Beginners can benefit from more than 10 specialized videos designed to simplify trading topics, along with an extensive investor dictionary. Despite its commendable offerings, FXCM ranks 14th in the education category according to ForexBrokers.com, slightly trailing behind IG. Both brokers provide valuable resources, but IG’s extensive and top-ranked educational materials give it a slight edge for those prioritizing learning.
| Feature |
IG
|
FXCM
|
|---|---|---|
| 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 FXCM. IG finished with an overall rank of #1, while FXCM finished with an overall rank of #15.
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
|
FXCM
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 95 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both online brokers, IG and FXCM, do not offer the ability to purchase actual (delivered) cryptocurrency, but they do provide the option to trade cryptocurrency derivatives.
Both IG and FXCM provide options for ACH or SEPA transfers, PayPal, Visa, Mastercard, and bank wires for depositing or withdrawing funds, but FXCM also offers Skrill, which is not available with IG.
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 | FXCM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | IG Review | FXCM Review |
| Broker Screenshots | IG | FXCM | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | IG | FXCM | |
|---|---|---|---|
| Trust Score | 99 | 95 | |
| 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 | 4 | |
| Tier-2 Licenses | 2 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | IG | FXCM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| 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 | FXCM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | Yes | |
| 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 | FXCM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 440 | |
| Forex Pairs (Total) | 97 | 43 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| 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 | FXCM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 0.78 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.78 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | FXCM | |
|---|---|---|---|
| Minimum Deposit | £250.00 | Starts from $50 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | IG | FXCM | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| 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 | Yes |
| Trading Tools | IG | FXCM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 13 | |
| Charting - Indicators / Studies (Total) | 33 | 115 | |
| Charting - Drawing Tools (Total) | 20 | 10 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | FXCM | |
|---|---|---|---|
| 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 | 59 | |
| 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 | FXCM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | Yes | Yes | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | FXCM | |
|---|---|---|---|
| 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 | FXCM | |
|---|---|---|---|
| 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 | FXCM Review |
| Overall | IG | FXCM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | IG Review | FXCM Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill