Written by ForexBrokers.com
In this head to head comparison of IG vs XM Group, 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.
Established in 1974, IG is a seasoned player in the online brokerage industry, offering a high level of trust and security. With a perfect Trust Score of 99, IG is regarded as highly trustworthy by ForexBrokers.com. The company is publicly traded and operates as a bank, further enhancing its credibility. IG boasts a strong regulatory standing with eight Tier-1 licenses and two Tier-2 licenses, reflecting the company's commitment to maintaining a secure trading environment for its clients.
By contrast, XM Group, founded in 2009, holds a reputable yet slightly lower Trust Score of 88, placing it in the trusted category. Although not publicly traded or a bank, XM Group still maintains a significant level of trust with four Tier-1 licenses and one Tier-2 license. This demonstrates XM Group’s dedication to upholding trusted practices in the trading landscape, providing assurance to its user base.
| Feature |
IG
|
XM Group
|
|---|---|---|
| Year Founded | 1974 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 4 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
IG is a top-rated online broker known for its competitive pricing, especially for active traders. It offers multiple execution methods and provides commendable pricing for its Forex Direct accounts. In July 2023, IG's main Forex Direct account had spreads averaging 0.62 pips, equating to an all-in cost of 0.82 pips when including a per-trade commission. Average spreads for CFD accounts during peak trading hours were slightly better than the industry average, at 0.69 pips for mini and standard-size contracts. IG provides active trader rebates, offering up to a 20% discount for professional traders handling over £300 million in forex volume monthly. Premium incentives are available in certain regions for high-volume traders. With a commission-based DMA account, IG offers appealing discounts for those trading large volumes, all backed by a strong infrastructure that supports sizeable trades. IG ranks #8 out of 62 brokers with an impressive 5-star rating for commissions and fees from ForexBrokers.com.
XM Group, on the other hand, provides a straightforward fee structure with its standard account but lacks published average spreads for its commission-based XM Zero account, which could make it more challenging for traders to evaluate cost efficiency compared to IG's transparent pricing data. Despite this, XM Group maintains a respectable 4-star rating for commissions and fees and holds the #33 spot in the ForexBrokers.com ranking. XM Group's offerings cater to traders who prefer a simpler pricing model without excessive tiered rebates, although this might not always result in the most aggressive spreads available on the market.
In summary, IG shines for its competitive and transparent pricing strategies, particularly appealing to active and high-volume traders looking to minimize trading costs with its tiered rebate programs and extensive execution methods. In contrast, XM Group offers a more straightforward commission structure, perhaps best for those who value simplicity over potential cost savings from active trading tiers. However, IG's higher ranking and star rating indicate its leading position when it comes to providing valuable options for reducing commissions and fees.
| Feature |
IG
|
XM Group
|
|---|---|---|
| Minimum Deposit | £250.00 | $5 |
| Average Spread EUR/USD - Standard | 0.98 | 1.6 |
| All-in Cost EUR/USD - Active | 0.82 | 0.8 |
| Active Trader or VIP Discounts | Yes | No |
| 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 online brokers IG and XM Group, potential investors may find IG to have a more extensive selection. IG provides a remarkable 19,537 tradeable symbols, significantly surpassing XM Group's 1,394 symbols. Similarly, IG boasts 97 tradeable forex pairs, whereas XM Group offers 55. Both IG and XM Group facilitate forex trading as a CFD or spot contract, and they also offer exchange-traded securities on U.S. and international exchanges, allowing clients to invest in well-known companies like Apple and Vodafone. Additionally, both brokers provide the option to trade cryptocurrency derivatives, though they do not offer the purchase of actual digital currencies.
While both platforms provide a comprehensive set of investment options, there are distinct differences that may influence a trader's choice. For instance, XM Group features copy trading capabilities, which are absent from IG. However, IG's vast array of investment choices contributes to its higher rating and ranking—it holds a five-star rating and is ranked 4th by ForexBrokers.com for its range of investments, compared to XM Group's 4.5-star rating and 23rd rank. These distinctions highlight IG's broad offerings, making it a compelling option for investors seeking a wider range of tradeable instruments.
| Feature |
IG
|
XM Group
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 1394 |
| Forex Pairs (Total) | 97 | 55 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| 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.
IG and XM Group both provide access to simulated trading through free virtual demo accounts, allowing users to practice without risks. IG stands out with its proprietary platform designed in-house, whereas XM Group relies on the popular MetaTrader platforms. Both brokers offer downloadable platforms for Windows and web-based trading, making them easily accessible. While IG offers the widely used MetaTrader 4 but not MetaTrader 5, XM Group supports both, offering more flexibility for users who prefer MT5. Furthermore, only XM Group facilitates copy trading, which can be beneficial for those looking to mirror the strategies of successful traders.
When it comes to trading tools, IG provides 20 drawing tools for charting and allows trading directly from stock charts, a capability also offered by XM Group. However, XM Group surpasses IG with seven columns for watch lists compared to IG's five. Overall, IG earns a higher rating of five stars for its trading platforms and tools, placing it second out of 62 brokers according to ForexBrokers.com. In contrast, XM Group receives a four-star rating, ranking it 31st in the same category. These distinctions highlight that IG offers a slightly more comprehensive and highly rated trading platform experience.
| Feature |
IG
|
XM Group
|
|---|---|---|
| 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 | 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.
For traders seeking versatile mobile trading apps, both IG and XM Group offer competitive features but present some distinctions. IG and XM Group have developed mobile apps available on iPhone and Android, featuring essential tools like price alerts and watchlist syncing, where any adjustments made reflect seamlessly between mobile and online accounts. When it comes to technical charting facilities, IG slightly edges out with 33 technical studies compared to XM Group’s 30. Both platforms allow users to draw trendlines and view multiple time frames on charts. However, a notable difference is IG's ability to auto-save drawings on charts, a feature XM Group lacks, which can be pivotal for traders who regularly analyze price patterns.
Creating real-time watchlists is a straightforward task on both platforms, yet IG shines in customer ratings, earning a perfect 5 stars for its mobile app capabilities, while XM Group holds a respectable 4-star rating. In the rankings of 62 brokers assessed by ForexBrokers.com, IG proudly leads at the top spot for mobile trading apps, whereas XM Group is positioned at rank 29. Whether prioritizing advanced charting capabilities or highly rated user experience, traders can select the app that best suits their needs to efficiently manage their portfolios on the go.
| Feature |
IG
|
XM Group
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 30 |
| 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.
IG and XM Group are two well-known online brokers that both offer valuable resources for market research. Both platforms provide daily market commentary and access to top-tier forex news sources like Bloomberg and Reuters. They also include sentiment-based trading tools for gauging market positions across various instruments and maintain comprehensive economic calendars to keep traders informed about global events. However, when it comes to specific tools, their offerings begin to diverge. IG provides technical analysis tools from Autochartist and market insights from TipRanks and Acuity Trading. In contrast, XM Group does not offer tools from these companies but compensates by providing research services from Trading Central.
In terms of overall research capabilities, both brokers are highly rated, with each receiving 5-star ratings for research. However, IG is ranked second in the research category out of 62 brokers reviewed by ForexBrokers.com, while XM Group holds the eighth position. This difference in ranking highlights minor distinctions in their research offerings, which traders may want to consider when choosing between the two. Ultimately, both IG and XM Group provide a wide range of tools and information that cater to those looking for detailed market analysis and reliable forex news.
| Feature |
IG
|
XM Group
|
|---|---|---|
| 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 it comes to educational resources for beginner traders, both IG and XM Group offer extensive options to help newcomers understand the world of forex and CFDs trading. Each platform provides a minimum of ten educational pieces, including articles, videos, and archived webinars, making it easy for beginners to access a wealth of information. Furthermore, both IG and XM Group host regular online educational webinars, held at least once a month, to ensure ongoing learning for their clients. For those who might miss a live session, both brokers have searchable archives of their previously recorded webinars, allowing easy access to past content.
For visual learners, both IG and XM Group boast a collection of at least ten beginner-focused educational videos. These resources are complemented by advanced learning materials, with each platform offering a minimum of ten videos tailored for more experienced traders. However, IG stands out with an additional resource in the form of an investor dictionary featuring over 50 investing terms, which XM Group does not provide. While both IG and XM Group have been rated at five stars for education, IG holds the distinction of being ranked first out of 62 brokers in the education category by ForexBrokers.com, whereas XM Group is positioned at seventh. This ranking indicates that while both brokers offer comprehensive educational tools, IG has earned a slightly higher reputation for its educational offerings.
| Feature |
IG
|
XM Group
|
|---|---|---|
| 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 | 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 XM Group. IG finished with an overall rank of #1, while XM Group finished with an overall rank of #17.
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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XM Group
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 88 |
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Both IG and XM Group do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to invest in cryptocurrency derivatives.
When comparing online brokers, IG supports ACH and SEPA transfers, PayPal, Visa, Mastercard, and bank wires for fund transactions, while XM Group offers Visa, Mastercard, and bank wires but only supports Skrill among the payment methods mentioned, lacking options like ACH, SEPA, and 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 | XM Group | |
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| Trust Score | 99 | 88 | |
| Winner | check_circle | ||
| Review | IG Review | XM Group Review |
| Broker Screenshots | IG | XM Group | |
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| Regulation | IG | XM Group | |
|---|---|---|---|
| Trust Score | 99 | 88 | |
| Year Founded | 1974 | 2009 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 4 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IG | XM Group | |
|---|---|---|---|
| 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 | 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 | XM Group | |
|---|---|---|---|
| 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 | XM Group | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 1394 | |
| Forex Pairs (Total) | 97 | 55 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| 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 | XM Group | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1.6 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.8 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | XM Group | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $5 | |
| 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 | XM Group | |
|---|---|---|---|
| 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 | No |
| Trading Tools | IG | XM Group | |
|---|---|---|---|
| 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 | XM Group | |
|---|---|---|---|
| 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 | 30 | |
| 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 | XM Group | |
|---|---|---|---|
| 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 | XM Group | |
|---|---|---|---|
| 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 | No |
| Major Forex Pairs | IG | XM Group | |
|---|---|---|---|
| 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 | XM Group Review |
| Overall | IG | XM Group | |
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| Trust Score | 99 | 88 | |
| Winner | check_circle | ||
| Review | IG Review | XM Group Review |
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