Written by ForexBrokers.com
In this head to head comparison of IG vs TeleTrade, 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 a highly reputed online broker known for its strong regulatory framework. It holds a commendable ForexBrokers.com Trust Score of 99, reflecting its reliability and trustworthiness. This rating is supported by IG's possession of 8 Tier-1 licenses, marking it as a highly trusted entity, and 2 Tier-2 licenses. As a publicly traded company that also functions as a bank, IG continues to offer a level of security and transparency that is widely recognized in the financial trading landscape.
In contrast, TeleTrade, which entered the market in 1994, holds a more modest Trust Score of 71, indicating an average risk rating on ForexBrokers.com. The company is not publicly traded and does not operate as a bank, potentially impacting its perceived reliability. TeleTrade possesses one Tier-1 license and lacks Tier-2 licenses, signaling a less comprehensive regulatory standing compared to IG. Traders considering either broker should weigh these factors to make an informed decision based on their individual risk tolerance and requirements.
| Feature |
IG
|
TeleTrade
|
|---|---|---|
| Year Founded | 1974 | 1994 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing IG and TeleTrade for commissions and fees, IG stands out for its comprehensive offerings and competitive pricing for active traders. IG’s Forex Direct account provides scalable execution with average spreads closer to the industry average, reported at 0.62 pips in July 2023, factoring in a per-trade commission equivalent of 0.2 pips for an all-in cost of 0.82 pips. IG also offers CFD account holders, including those who qualify for its active trader program, attractive rebates based on trading volume, which can significantly reduce costs and provide competitive spreads as low as 0.60 pips. These features have earned IG a 5-star rating for commissions and fees and a ranking of #8 out of 62 brokers according to ForexBrokers.com.
TeleTrade, although lacking detailed average spread data, maintains a respectable reputation with a 4-star rating for commissions and fees. However, it is ranked lower at #46 out of 62 brokers by ForexBrokers.com for this category, primarily due to a lack of transparency in pricing specifics. While TeleTrade offers services aimed at satisfying typical retail investor needs, IG’s detailed tiered pricing strategies and rebate programs provide more notable value for active and high-volume traders.
Choosing between IG and TeleTrade depends on the trader’s specific needs and trading volume. IG is likely the better choice for those seeking detailed pricing options and high-volume trading benefits, backed by a solid industry ranking and commendable reputation. TeleTrade might appeal to traders who prioritize straightforward trading without the need for detailed transparency in commission structure. Both brokers serve their respective clients well, but IG offers more significant advantages for those focused on fees and commissions.
| Feature |
IG
|
TeleTrade
|
|---|---|---|
| Minimum Deposit | £250.00 | $100 |
| 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 | 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.
When comparing the range of investments offered by IG and TeleTrade, IG stands out for its extensive selection. IG provides access to 19,537 tradeable symbols, including 97 forex pairs, and offers spot and CFD trading for forex. It also allows clients to purchase exchange-traded securities on both U.S. and international markets, which means investors can buy shares of global giants like Apple and Vodafone. For those interested in cryptocurrency, IG offers cryptocurrency derivatives, adding another dimension to its already comprehensive investment options. Rated 5 stars for its range of investments and ranking #4 out of 62 brokers, IG is a strong contender for those seeking diverse investment choices.
TeleTrade, on the other hand, offers a more limited range of investments with 500 tradeable symbols and 61 forex pairs. Like IG, it provides forex trading through CFD and spot contracts and offers cryptocurrency derivatives. However, it does not offer exchange-traded securities on U.S. or international exchanges. A unique feature of TeleTrade is its copy trading option, which allows users to mimic the trades of more experienced investors. With a 3.5-star rating and a #45 ranking in the range of investments category, TeleTrade might appeal more to those who prioritize the ability to copy trade strategies. However, for investors seeking a broader selection of investment options, IG remains the superior choice.
| Feature |
IG
|
TeleTrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 500 |
| Forex Pairs (Total) | 97 | 61 |
| 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, IG and TeleTrade each offer distinct features to cater to the needs of traders. Both brokers provide simulated trading experiences with free virtual demo accounts, making practice easy and accessible. While IG has developed its own in-house proprietary platform, TeleTrade does not. Both brokers offer Windows-based desktop platforms and web-based browser platforms, and they support the popular MetaTrader 4. However, only TeleTrade extends its offering to include MetaTrader 5 and copy trading options through ZuluTrade, appealing to those who might be interested in automated and social trading features. In contrast, IG does not offer these latter features.
IG excels in technical charting tools with 20 drawing tools, compared to TeleTrade’s 15. Additionally, IG allows users to trade directly from a stock chart—a capability shared by TeleTrade. Despite TeleTrade offering more columns for watch lists, IG outshines with its comprehensive tools, receiving a perfect 5-star rating from ForexBrokers.com, ranking #2 out of 62 brokers. Meanwhile, TeleTrade, with a 4-star rating, holds the #51 spot. For traders seeking top-tier platform tools, IG may be the more favorable option, while those interested in further copy trading opportunities might find TeleTrade appealing.
| Feature |
IG
|
TeleTrade
|
|---|---|---|
| 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 | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 33 | 35 |
| 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.
Comparing the mobile trading apps of IG and TeleTrade reveals some notable differences and similarities, appealing to traders looking for convenience and features. Both platforms provide mobile apps for iPhone and Android users, ensuring accessibility across popular devices. They offer stock and forex price alerts, essential for keeping traders updated on market shifts. Additionally, both allow users to draw trendlines on charts, switch between different time frames such as daily or weekly views, and autosave chart drawings, catering to users who need detailed technical analysis at their fingertips.
Differences emerge when considering watchlist functionalities and technical study options. IG provides watchlist symbol syncing, which means watchlists are updated across both the mobile app and online account, making it easier to track changes anywhere. TeleTrade, however, lacks this feature. In terms of available technical studies, IG offers 33, whereas TeleTrade slightly edges out with 35. User ratings further underscore the performance gap; IG is rated 5 stars and ranks #1 out of 62 brokers for its mobile trading apps according to ForexBrokers.com, while TeleTrade holds a 4-star rating and ranks #25. For traders prioritizing a seamless and highly rated mobile trading experience, IG is the clear winner.
| Feature |
IG
|
TeleTrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | 35 |
| 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.
Both IG and TeleTrade provide daily market commentary and access to top-tier forex news from sources like Bloomberg and Reuters. However, IG distinguishes itself with a wider array of additional tools and features. It offers technical analysis tools from Autochartist, and has sentiment-based trading tools that give insights on long or short positions. Furthermore, IG provides research from companies like TipRanks and Acuity Trading, contributing to its comprehensive offerings for market research enthusiasts.
In contrast, while TeleTrade shares some common features such as an economic calendar, it lacks several advanced tools provided by IG. TeleTrade does not offer Autochartist or sentiment-based trading tools, nor does it present market research from TipRanks or Acuity Trading. This difference in available resources contributes to IG's higher rating of 5 stars for research compared to TeleTrade's 3.5 stars. According to ForexBrokers.com, IG ranks #2 amongst 62 brokers, whereas TeleTrade comes in at #38, highlighting IG's superior position in market research capabilities.
| Feature |
IG
|
TeleTrade
|
|---|---|---|
| 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 education for beginners in forex and CFDs, IG clearly sets itself apart from TeleTrade. IG offers a variety of resources tailored to newcomers, including more than 10 educational pieces like articles, videos, and archived webinars focused on forex and CFDs. Additionally, IG provides monthly online webinars for clients and maintains a searchable archive of past sessions. On top of this, they offer at least 10 beginner-focused trading videos, ensuring that newcomers have plenty of materials to aid their learning journey.
In contrast, TeleTrade falls short in providing a comprehensive educational experience for beginners. While IG boasts a broad range of resources, including an investor dictionary with over 50 terms, TeleTrade lacks many of these features, such as regular webinars and archived sessions. As a result of these offerings, IG is rated 5 stars for education and ranks first in the Education category out of 62 brokers by ForexBrokers.com. TeleTrade, meanwhile, holds a 3.5-star rating and ranks much lower at 61st place. This comparison highlights IG's commitment to educating new traders effectively.
| Feature |
IG
|
TeleTrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| 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 | No |
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 TeleTrade. IG finished with an overall rank of #1, while TeleTrade finished with an overall rank of #50.
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
|
TeleTrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 71 |
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Both IG and TeleTrade do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
In comparing online brokers IG and TeleTrade, IG stands out by offering multiple fund transfer options including ACH, SEPA, PayPal, Visa/Mastercard, and bank wires, while TeleTrade provides Visa/Mastercard, bank wires, and adds Skrill to its offerings, but lacks ACH, SEPA, and PayPal support.
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 | TeleTrade | |
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| Trust Score | 99 | 71 | |
| Winner | check_circle | ||
| Review | IG Review |
| Broker Screenshots | IG | TeleTrade | |
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| Regulation | IG | TeleTrade | |
|---|---|---|---|
| Trust Score | 99 | 71 | |
| Year Founded | 1974 | 1994 | |
| 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 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | IG | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 500 | |
| Forex Pairs (Total) | 97 | 61 | |
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | TeleTrade | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $100 | |
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | IG | TeleTrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 7 | |
| Charting - Indicators / Studies (Total) | 33 | 35 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | TeleTrade | |
|---|---|---|---|
| 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 | 35 | |
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| 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 | No |
| Major Forex Pairs | IG | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
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| Trust Score | 99 | 71 | |
| Winner | check_circle | ||
| Review | IG Review |
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