Written by ForexBrokers.com
In this head to head comparison of IG vs IronFX, 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, established in 1974, is a well-regarded online broker known for its high level of trust and regulatory compliance. It is publicly traded and operates as a bank, offering a secure environment for investors. IG holds an impressive eight Tier-1 licenses, which are the most trustworthy according to ForexBrokers.com. Additionally, it has two Tier-2 licenses. With a perfect Trust Score of 99, IG is categorized as highly trusted, indicating an exceptional level of safety for its clients.
In comparison, IronFX, founded in 2010, is not publicly traded and is not a bank. Despite being a newer player in the industry, IronFX holds three Tier-1 licenses, suggesting a strong commitment to safety and security. However, it does not possess any Tier-2 licenses. With a Trust Score of 83, IronFX is considered trusted by ForexBrokers.com, offering a solid option for those seeking a reliable broker, albeit at a level below the trust rating of IG.
| Feature |
IG
|
IronFX
|
|---|---|---|
| Year Founded | 1974 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 3 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
IG and IronFX are two well-known online brokers, each with distinct approaches to commissions and fees. IG, recognized for its strong position in the industry, offers competitive pricing, particularly for active traders using their Forex Direct accounts. During July 2023, IG's Forex Direct accounts featured average spreads of 0.62 pips with an all-in cost of 0.82 pips when accounting for trade commissions. For CFD accounts, average spreads were 0.69 pips during peak trading hours, slightly below the industry average. Moreover, IG provides a rebate program for high-volume traders, potentially reducing spreads by up to 20%. Rated with 5 stars for its commissions and fees, IG is ranked #8 out of 62 brokers by ForexBrokers.com.
IronFX, on the other hand, presents a different pricing structure with room for improvement in comparison to the industry average. Standard variable spread accounts list a typical spread of 1.8 pips, with specific spreads varying based on account type. Their zero fixed-spread accounts start at zero pips, but come with a $18 per lot commission, and spreads can widen to 3 pips overnight. With a 4-star rating for commissions and fees, IronFX holds the #47 spot among 62 brokers according to ForexBrokers.com.
When evaluating IG and IronFX for commissions and fees, IG emerges as a more favorable option for active traders, especially those engaged in high-volume trading, thanks to its rebates and competitive spreads. Meanwhile, IronFX, although ranking lower, offers different account options that may appeal to traders with specific preferences or strategies. Overall, both brokers cater to different trader needs with varying degrees of competitiveness in their respective fee structures.
| Feature |
IG
|
IronFX
|
|---|---|---|
| Minimum Deposit | £250.00 | $50 |
| Average Spread EUR/USD - Standard | 0.98 | 1.2 |
| All-in Cost EUR/USD - Active | 0.82 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| 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.
IG and IronFX both provide forex trading as CFDs or spot contracts, yet their offerings differ significantly in scope. IG stands out with an impressive array of 19,537 tradeable symbols, while IronFX offers 340. For those focused on forex, IG provides 97 tradeable forex pairs compared to IronFX’s 83 pairs. Furthermore, IG clients have the advantage of buying exchange-traded securities on U.S. and international exchanges, such as Apple and Vodafone, options not available with IronFX. However, IronFX does feature copy trading, a service not found with IG.
Both IG and IronFX allow speculation on cryptocurrency derivatives but do not offer the purchase of actual digital currencies. In terms of overall investment range, IG receives a high rating of 5 stars, securing the 4th spot out of 62 brokers according to ForexBrokers.com, whereas IronFX is rated at 3.5 stars, ranking 51st. These distinctions highlight IG's broader investment options and higher market ranking, making it a compelling choice for those seeking diverse trading opportunities.
| Feature |
IG
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 340 |
| Forex Pairs (Total) | 97 | 83 |
| 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 comparing IG and IronFX for their trading platforms and tools, it's clear that both brokers offer some essential features, such as free virtual demo accounts and support for a Windows-based desktop platform. However, IG stands out with its proprietary trading platform, which is developed in-house, while IronFX does not have a proprietary offering. Both brokers provide a web-based trading option and support MetaTrader 4 (MT4), but neither offers MetaTrader 5 (MT5) or features like DupliTrade and ZuluTrade. Additionally, IG does not offer copy trading, whereas IronFX does, providing a social trading angle that might appeal to some traders.
Examining the charting tools, IG offers 20 drawing tools, while IronFX offers 15, and both brokers provide the ability to trade directly from a stock chart. For watch lists, IG includes five fields whereas IronFX includes seven. Despite these differences, IG receives a higher rating for its trading platforms and tools, achieving an impressive 5-star rating compared to IronFX's 3.5 stars. Notably, IG ranks as the 2nd broker out of 62 reviewed by ForexBrokers.com in this category, showing significant recognition for its platform capabilities, whereas IronFX is positioned much lower at rank 60. Overall, IG's offerings might present a more comprehensive trading experience for traders prioritizing platform innovation and ranking.
| Feature |
IG
|
IronFX
|
|---|---|---|
| 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 | No |
| 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.
Both IG and IronFX offer user-friendly mobile trading apps for iPhone and Android users, providing essential features for on-the-go trading. With both platforms, traders have access to stock and forex price alerts, can draw trendlines on charts, and view multiple time frames such as daily, weekly, or intraday. Additionally, both apps allow users to create watchlists with real-time quotes. However, IG stands out by providing better synchronization between mobile and online accounts, making it easier for traders to manage their watchlists seamlessly. IG's app offers 33 technical studies for charting, slightly more than IronFX's 30, giving users an edge in technical analysis. Their capability to autosave chart drawings further enhances the mobile trading experience for both apps.
When it comes to customer satisfaction and recognition, IG significantly outshines IronFX. IG's mobile trading app boasts a perfect 5-star rating and holds the top spot in the Mobile Trading Apps category according to ForexBrokers.com, ranking first among 62 brokers. In contrast, IronFX's app receives a 3.5-star rating and is ranked much lower, at number 61. This noticeable difference in rankings indicates that IG provides a more refined and reliable mobile trading experience, making it a preferred choice for many traders. Whether you're an experienced trader or just starting out, IG's mobile app offers superior features and usability, setting it apart from IronFX in the competitive landscape of online trading.
| Feature |
IG
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | 30 |
| 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 IronFX for market research, both brokers offer daily market commentary and provide forex news sourced from reputable outlets like Bloomberg and Reuters. Additionally, they each have an economic calendar that highlights key global events. IG shines in its variety of tools, offering resources from Autochartist and sentiment-based trading tools that reveal the balance of long and short positions in the market. Furthermore, IG is supported by research from TipRanks and Acuity Trading, which are not available with IronFX. Nonetheless, IronFX offers resources from Trading Central, which IG does not provide.
According to ForexBrokers.com, IG is rated 5 stars for research, ranking 2nd among 62 brokers, while IronFX receives a 4-star rating, placing them at 28th. The substantial difference in ranking could be attributed to the wider array of research tools that IG makes available to its traders, giving them a richer resource pool for making informed trading decisions compared to IronFX.
| Feature |
IG
|
IronFX
|
|---|---|---|
| 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 | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners between IG and IronFX, IG clearly stands out as the more comprehensive option. Both brokers provide a solid foundation for understanding forex and CFDs, each offering a minimum of 10 educational pieces in various formats like articles and videos. However, IG distinguishes itself by hosting at least one online educational webinar each month, a feature not available with IronFX. Both brokers maintain searchable archives of recorded webinars, but for those who appreciate live interaction, IG's webinars can be a valuable resource. IG also provides over 10 beginner-specific educational videos, similar to IronFX, yet it goes a step further by offering advanced trading videos, ensuring that learners can progress as they gain experience. Both IG and IronFX supply an investor dictionary with over 50 defined terms, facilitating the understanding of trading jargon for novices.
IG's commitment to education is reflected in its perfect 5-star education rating, whereas IronFX trails with 4 stars. Among 62 brokers ranked by ForexBrokers.com, IG proudly holds the top position in the Education category, underscoring its leadership in teaching trading concepts. In contrast, IronFX is ranked 44th, making IG a more attractive option for those serious about gaining a comprehensive education in trading. Overall, IG's depth of resources and ongoing educational support provide beginners—and more seasoned traders—a wealth of knowledge and invaluable tools to advance their trading skills.
| Feature |
IG
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| 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 IronFX. IG finished with an overall rank of #1, while IronFX finished with an overall rank of #48.
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
|
IronFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 83 |
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Both IG and IronFX provide options for trading cryptocurrency derivatives but do not offer the ability to buy actual (delivered) cryptocurrencies.
IG supports ACH or SEPA transfers, PayPal, Visa or Mastercard, and bank wires for depositing or withdrawing funds, while IronFX offers Visa or Mastercard and bank wires, but includes Skrill instead of ACH/SEPA transfers or 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 | IronFX | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | IG Review |
| Broker Screenshots | IG | IronFX | |
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| Regulation | IG | IronFX | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 1974 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 3 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IG | IronFX | |
|---|---|---|---|
| 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 | 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 | IronFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 340 | |
| Forex Pairs (Total) | 97 | 83 | |
| 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 | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.82 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | IronFX | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $50 | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 33 | 30 | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | No | |
| Economic Calendar | Yes | Yes |
| Education | IG | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IG | IronFX | |
|---|---|---|---|
| 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 |
| Overall | IG | IronFX | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | IG Review |
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