Written by ForexBrokers.com
In this head to head comparison of IG vs Interactive Brokers, 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.
Founded in 1974, IG is one of the long-standing giants in the online brokerage field. It is publicly traded and operates as a bank, offering it a multi-faceted advantage in providing financial services. IG boasts an impressive eight Tier-1 licenses, affirming its high level of trustworthiness according to industry standards. With a ForexBrokers.com Trust Score of 99, IG is considered a top-tier choice for investors seeking confidence and security in their trading platform.
Interactive Brokers, another well-respected broker founded in 1977, is likewise publicly traded but does not function as a bank. It surpasses IG slightly with nine Tier-1 licenses, demonstrating an equally strong foundation of reliability and oversight. Holding the same ForexBrokers.com Trust Score of 99, Interactive Brokers offers investors peace of mind and trust equivalent to IG's high standards. Both brokers are regarded as highly trusted options, each with unique strengths and extensive regulatory backing.
| Feature |
IG
|
Interactive Brokers
|
|---|---|---|
| Year Founded | 1974 | 1977 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 9 |
| Tier-2 Licenses | 2 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing IG and Interactive Brokers, both platforms receive a 5-star rating for their competitive commission structures and fees. IG is particularly appealing for active traders with its Forex Direct accounts, offering scalable execution methods tailored to large orders. The broker's average spreads in 2024 are competitive, around 0.82 pips on its main Forex Direct account, including a per-trade commission. In July 2023, their CFD account spreads averaged 0.98 pips globally. IG also provides a tiered rebate program for high-volume traders, offering rebates up to 20% on forex trades for those meeting certain trading thresholds. Ranked 8th among 62 brokers by ForexBrokers.com, IG is a strong choice for traders interested in a balance of execution methods and competitive spreads.
Interactive Brokers also stands out with a 5-star rating in the commissions and fees category and ranks higher at 2nd place among the top 62 brokers. Although their average forex spreads aren't published, Interactive Brokers provides an effective all-in spread of around 0.59 pips for the EUR/USD pair as of Q3 2024. Their commission rates start at 0.00002 of the USD trade value, which can drop significantly for very active traders. With a minimum commission charge of $2 per side and discounts kicking in for large volumes, such as a drop to $1 per order if trading over $5 billion monthly, Interactive Brokers is well-suited for traders handling substantial forex volumes. They also aggregate pricing from 17 major interbank forex dealers, which allows them to charge commissions instead of marking up spreads, similar to agency execution models.
Both IG and Interactive Brokers offer attractive pricing models for active and high-volume traders, but Interactive Brokers slightly edges out IG in the rankings for commissions and fees due to their dynamic pricing options and deeper discount incentives. Whether you prioritize structure and rebates or lower commissions per trade, both brokers provide excellent avenues for smart trading choices.
| Feature |
IG
|
Interactive Brokers
|
|---|---|---|
| Minimum Deposit | £250.00 | $0 |
| Average Spread EUR/USD - Standard | 0.98 | 0.59 |
| All-in Cost EUR/USD - Active | 0.82 | 0.59 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing IG and Interactive Brokers for their range of investments, both platforms shine in different areas, catering to diverse trading preferences. IG offers a massive selection of 19,537 tradable symbols, significantly more than Interactive Brokers, which provides access to 8,500 symbols. Both brokers support forex trading as a CFD or spot contract, but IG slightly edges out Interactive Brokers with 97 forex pairs compared to 90. Furthermore, clients on both platforms can trade exchange-traded securities on U.S. and international markets, allowing them to invest in companies like Apple and Vodafone.
Despite IG's broader range of symbols, Interactive Brokers stands out by offering the ability to buy actual cryptocurrencies, a service not available on IG, although both facilitate trading cryptocurrency derivatives. When it comes to user ratings, both platforms earn five stars for their range of investments. However, Interactive Brokers claims the top spot in the ForexBrokers.com ranking at number one, while IG follows closely behind at number four, reflecting their comprehensive offerings that appeal to different trading goals.
| Feature |
IG
|
Interactive Brokers
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 8500 |
| Forex Pairs (Total) | 97 | 90 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| Cryptocurrency (Physical) | No | Yes |
| 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 IG and Interactive Brokers for their online trading platforms and tools, both brokers offer strong features that cater to various trading needs. They both provide users with the option of a simulated or paper trading account, allowing traders to hone their skills without financial risk. Each has its own proprietary platform that is developed in-house, available as both a Windows-based desktop download and a web-based platform. However, while IG supports MetaTrader 4 (MT4), Interactive Brokers does not. Neither broker offers MetaTrader 5 (MT5), DupliTrade, ZuluTrade, or copy trading features, which might be a consideration for traders seeking social trading functionalities.
In terms of additional tools, both brokers let traders execute trades directly from stock charts, but differ in their offerings of charting tools. IG offers 20 drawing tools, while Interactive Brokers provides a more extensive selection with 85. When it comes to watch lists, there's a vast difference: IG offers five columns or fields, whereas Interactive Brokers stands out with a whopping 659. Despite these differences, both brokers have received high accolades, with each earning a five-star rating for their trading platforms and tools. On ForexBrokers.com, IG is ranked second out of 62 brokers in this category, narrowly edging out Interactive Brokers, which holds the third spot.
| Feature |
IG
|
Interactive Brokers
|
|---|---|---|
| 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 | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 155 |
| Charting - Drawing Tools (Total) | 20 | 85 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 659 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of IG and Interactive Brokers, both offer comprehensive solutions for traders using either iPhone or Android platforms. IG and Interactive Brokers provide crucial features such as stock or forex price alerts and watchlist symbol syncing, ensuring that updates made across devices are in harmony. Both apps allow users to draw trendlines on stock or forex charts and view multiple time frames like daily or weekly. However, a notable difference is that while IG's app automatically saves chart drawings, Interactive Brokers does not offer this feature.
In terms of technical studies for charting, Interactive Brokers stands out with an offering of 97, significantly more than IG's 33. Nevertheless, both platforms allow the creation of watchlists with real-time quotes, a vital tool for active traders. Despite these differences, both apps have received high ratings, earning 5 stars for their mobile trading capabilities. However, IG edges ahead as it is ranked #1 out of 62 brokers by ForexBrokers.com, while Interactive Brokers holds the #4 spot.
| Feature |
IG
|
Interactive Brokers
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 97 |
| 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.
When comparing IG and Interactive Brokers in terms of market research, both platforms excel in several areas. They each provide daily market commentary and offer forex news from prestigious sources such as Bloomberg and Reuters. Both also feature sentiment-based trading tools, economic calendars, and market research from TipRanks and Acuity Trading. However, IG edges ahead with offerings from Autochartist, a tool that Interactive Brokers does not provide. In contrast, Interactive Brokers includes technical analysis tools from Trading Central, which is not available with IG.
Both brokers receive a perfect 5-star rating for their research capabilities from ForexBrokers.com. However, in the ranking of 62 brokers by ForexBrokers.com for research, IG is positioned at number two, slightly ahead of Interactive Brokers, which is ranked third. This subtle difference may indicate IG's slightly broader array of research tools and resources, appealing to traders who value diverse analytical tools. Regardless, both platforms cater well to informed trading with their comprehensive research features.
| Feature |
IG
|
Interactive Brokers
|
|---|---|---|
| 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 | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners, both IG and Interactive Brokers are rich in offerings. IG provides a thorough selection, featuring at least 10 articles, videos, and archived webinars focused on forex and CFDs, along with interactive monthly webinars. Beginners can also benefit from IG's substantial library of videos that cater specifically to novices, ensuring they start on the right foot. Moreover, IG maintains a searchable archive of recorded webinars, making it easier to explore past topics. A comprehensive investor dictionary with over 50 investing terms further aids in clarifying complex concepts for new traders.
Interactive Brokers matches IG with strong educational content in forex and CFDs, supplemented by a hearty selection of beginner-focused videos. It also hosts monthly webinars and provides access to past sessions through a searchable archive. The broker's investor dictionary is equally beneficial, offering concise definitions for over 50 investing terms. Despite the similarities in educational offerings and both receiving a 5-star rating, IG leads with a #1 rank for Education on ForexBrokers.com, while Interactive Brokers follows closely with a #3 rank, highlighting IG's slightly stronger position in educational support for beginners.
| Feature |
IG
|
Interactive Brokers
|
|---|---|---|
| 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 Interactive Brokers. IG finished with an overall rank of #1, while Interactive Brokers finished with an overall rank of #2.
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
|
Interactive Brokers
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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When comparing online brokers IG and Interactive Brokers regarding cryptocurrency offerings, IG does not provide the option to buy actual delivered cryptocurrency, only derivatives, whereas Interactive Brokers offers both actual cryptocurrency and derivatives.
When comparing online brokers IG and Interactive Brokers, both platforms support ACH or SEPA transfers and bank wires for deposits and withdrawals, but IG uniquely offers options like PayPal and Visa/Mastercard, which are not available with Interactive Brokers.
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 | Interactive Brokers | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | Interactive Brokers Review |
| Broker Screenshots | IG | Interactive Brokers | |
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| Regulation | IG | Interactive Brokers | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1974 | 1977 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 9 | |
| Tier-2 Licenses | 2 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | IG | Interactive Brokers | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | Yes | |
| Japan (SFC Authorised) | Yes | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | Yes | |
| 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 | Interactive Brokers | |
|---|---|---|---|
| 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 | Yes | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | Interactive Brokers | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 8500 | |
| Forex Pairs (Total) | 97 | 90 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| Cryptocurrency (Physical) | No | Yes | |
| 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 | Interactive Brokers | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 0.59 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.59 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | IG | Interactive Brokers | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | IG | Interactive Brokers | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| 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 | Interactive Brokers | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 659 | |
| Charting - Indicators / Studies (Total) | 33 | 155 | |
| Charting - Drawing Tools (Total) | 20 | 85 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | Interactive Brokers | |
|---|---|---|---|
| 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 | 97 | |
| 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 | Interactive Brokers | |
|---|---|---|---|
| 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 | Interactive Brokers | |
|---|---|---|---|
| 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 | Interactive Brokers | |
|---|---|---|---|
| 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 | Interactive Brokers Review |
| Overall | IG | Interactive Brokers | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | Interactive Brokers Review |
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