Written by ForexBrokers.com
In this head to head comparison of IG vs Xtrade, 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.
When comparing the online brokers IG and Xtrade, several key differences emerge regarding their trustworthiness and regulatory standings. IG, established in 1974, boasts a Trust Score of 99 out of 99, reflecting its high level of reliability. As a publicly traded company on a stock exchange and functioning as a bank, IG holds 8 Tier-1 licenses, regarded as highly trustworthy, along with 2 Tier-2 licenses. These credentials signify strong regulatory oversight and provide peace of mind for investors.
On the other hand, Xtrade, founded in 2003, demonstrates an average risk profile with a Trust Score of 74. Unlike IG, Xtrade isn't publicly traded nor does it operate as a bank, which could be factors for potential customers to consider. Although it holds 1 Tier-1 license and 1 Tier-2 license, indicating some level of trustworthiness, these figures are modest compared to IG's extensive licensing. For those prioritizing regulatory assurance, IG stands out as a more trusted choice.
| Feature |
IG
|
Xtrade
|
|---|---|---|
| Year Founded | 1974 | 2003 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 1 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing IG and Xtrade for their commissions and fees, IG stands out as a strong choice, particularly for active traders. IG's robust setup allows for scalable execution across various trading products and offers different execution methods beyond the standard market maker option. The Forex Direct accounts from IG offer favorable pricing for active traders, with spreads on the main Forex Direct account averaging 0.62 pips in July 2023—close to the industry average—with an all-in cost of 0.82 pips when considering the per-trade commission of 0.2 pips. Additionally, IG’s active trader program provides significant rebates, up to 20%, for those trading over £300 million per month. IG is rated 5 stars and ranks #8 out of 62 brokers in the Commissions and Fees category by ForexBrokers.com.
For CFD accounts, IG delivers slightly better than average spreads during the main trading session, averaging 0.69 pips in July 2023, but spreads can rise to 1.03 pips during lower liquidity periods. Their premium trader program requires high trading volumes but offers various perks and pricing benefits in return. For more seasoned traders, the DMA account, associated with the L2 Dealer platform, provides a commission-based fee structure with competitive spreads and tiered pricing based on the trader's previous month's trade volume. The average spread for the DMA account was 0.62 pips in July 2023. IG ensures top-notch service and pricing, earning high marks for fees and commissions.
Conversely, Xtrade does not provide detailed average spread data, limiting the transparency of its fee structure. Consequently, Xtrade holds a lower rating of 2.5 stars and is ranked last, at #62, by ForexBrokers.com in this category. While Xtrade may offer other advantages, when it comes to commissions and fees, IG is the superior option for traders seeking efficiency and value.
| Feature |
IG
|
Xtrade
|
|---|---|---|
| Minimum Deposit | £250.00 | $250 |
| 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 | 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 IG and Xtrade for their range of investments, IG clearly stands out with nearly 20,000 tradeable symbols, dwarfing Xtrade's offering of 482. Both platforms provide opportunities for forex trading via CFDs or spot contracts, but IG offers a wider selection with 97 forex pairs compared to Xtrade's 56. While Xtrade does not provide access to exchange-traded securities on U.S. or international exchanges, IG allows clients to invest directly in stocks like Apple and Vodafone. This extensive accessibility contributes to IG's high rating of 5 stars for Range of Investments, significantly above Xtrade's 3.5 stars.
In addition to traditional securities, both IG and Xtrade offer trading in cryptocurrency derivatives, although neither supports the direct purchase of the digital assets themselves. Despite the similarities in forex and crypto offerings, IG's comprehensive investment options earn it a ranking of 4th place out of 62 brokers by ForexBrokers.com for Range of Investments, vastly outperforming Xtrade's 49th position. This distinction underscores IG's appeal to investors seeking a broader range of trading opportunities.
| Feature |
IG
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 482 |
| Forex Pairs (Total) | 97 | 56 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | No |
| 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 the trading platforms and tools of IG and Xtrade, both brokers offer free virtual demo accounts and have developed proprietary platforms. IG provides a Windows-based desktop download option, while Xtrade does not, focusing solely on its web-based platform instead. Both brokers support web-based trading, but only IG offers the widely popular MetaTrader 4 (MT4), giving it an edge in versatility. Neither IG nor Xtrade includes MetaTrader 5 (MT5), copy trading, DupliTrade, or ZuluTrade in their offerings.
Chart enthusiasts will appreciate that IG offers 20 drawing tools and the ability to trade directly from a stock chart. However, Xtrade shines with an impressive 100 drawing tools, despite having less flexibility for technical indicators. In terms of customizing watch lists, IG offers 5 columns, while Xtrade provides 9, allowing deeper customization. IG's advanced toolkit and platform reliability have earned it a remarkable rating of 5 stars and a ranking of #2 in the Trading Platforms and Tools category by ForexBrokers.com, whereas Xtrade holds a 3.5-star rating and is ranked #58.
| Feature |
IG
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| 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 | N/A |
| Charting - Drawing Tools (Total) | 20 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of IG and Xtrade, both platforms provide iPhone and Android applications, but their offerings differ significantly in terms of features and user experience. IG stands out with its ability to send stock or forex price alerts, ensuring that users are always updated on market movements. Xtrade, on the other hand, does not offer this feature. Furthermore, IG enables watchlist symbol syncing across devices, allowing for seamless updates between the mobile app and the user's online account, a functionality that Xtrade lacks. This syncing capability ensures that traders can keep their eyes on their preferred stocks without missing a beat.
IG also excels in technical analysis with 33 technical studies available in its charting tools, compared to Xtrade, where technical studies aren't specified. Users can draw trendlines, view multiple time frames such as daily or intraday, and benefit from autosaving these drawings in the IG mobile app. In contrast, Xtrade does not support these features. Additionally, IG allows the creation of watchlists with real-time quotes, offering a more dynamic trading experience compared to Xtrade. With a five-star rating and the top ranking from ForexBrokers.com for mobile trading apps, IG clearly offers a superior mobile trading experience. Meanwhile, Xtrade holds a respectable four-star rating, but it ranks much lower at 53rd out of 62 brokers in the same category.
| Feature |
IG
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing market research offerings between IG and Xtrade, both platforms provide daily market commentary and access to forex news from renowned sources like Bloomberg and Reuters. However, IG distinguishes itself with the inclusion of additional tools for deeper analysis. It offers technical and fundamental research tools from Autochartist and market sentiment indicators that display long or short positions across various currency pairs. Moreover, IG provides market insights from TipRanks and research tools from Acuity Trading, such as the Signal Centre. Xtrade, on the other hand, does not provide these additional resources, which might limit users looking for comprehensive analysis options.
IG and Xtrade both include an economic calendar, helping traders stay informed on global economic events. Despite this similarity, IG outshines Xtrade in terms of research capabilities, earning a top-tier 5-star rating versus Xtrade's 3.5 stars. ForexBrokers.com ranks IG as the second-best broker out of 62 for research, reflecting its comprehensive suite of tools and resources. In contrast, Xtrade is positioned at #52, indicating there may be room for improvement in its research offerings. For traders seeking a broader range of insights and tools, IG seems to offer a more well-rounded platform.
| Feature |
IG
|
Xtrade
|
|---|---|---|
| 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 educational resources for beginners in forex and CFDs, both IG and Xtrade offer a rich array of materials, with each platform providing at least 10 articles, videos, or archived webinars on these topics. However, IG stands out significantly by offering extensive online educational webinars at least once a month along with a searchable archive of these sessions for later viewing. This feature can be immensely beneficial for beginners who wish to learn at their own pace and revisit materials to strengthen their understanding. In contrast, Xtrade does not provide regular webinars or a searchable archive.
IG caters comprehensively to both beginners and advanced traders by offering at least 10 educational videos specifically tailored for each group. These videos help build a strong foundation for those new to trading and also offer advanced insights for seasoned traders. Xtrade, while providing essential trading information, lacks the depth and variety in video content targeted specifically at these levels. Additionally, both platforms feature an investor dictionary with definitions of at least 50 investing terms, making this a useful tool for clarifying complex concepts. Overall, IG receives a higher educational rating of 5 stars and ranks as the top broker in this category, while Xtrade is rated 3.5 stars and ranks 46th according to ForexBrokers.com evaluations.
| Feature |
IG
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| 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 | 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 Xtrade. IG finished with an overall rank of #1, while Xtrade finished with an overall rank of #59.
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
|
Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 74 |
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While both online brokers, IG and Xtrade, do not allow for the purchase of actual delivered cryptocurrency, they do provide the option to buy cryptocurrency derivatives.
When comparing online brokers IG and Xtrade, IG supports ACH and SEPA transfers and PayPal for deposits and withdrawals while Xtrade does not, although both platforms accommodate Visa, Mastercard, and bank wires, with Xtrade additionally offering Skrill where IG does not.
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 | Xtrade | |
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| Trust Score | 99 | 74 | |
| Winner | check_circle | ||
| Review | IG Review | Xtrade Review |
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| Regulation | IG | Xtrade | |
|---|---|---|---|
| Trust Score | 99 | 74 | |
| Year Founded | 1974 | 2003 | |
| 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 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IG | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 482 | |
| Forex Pairs (Total) | 97 | 56 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | No | |
| 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 | Xtrade | |
|---|---|---|---|
| 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 | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | Xtrade | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $250 | |
| 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 | Xtrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 5 | 9 | |
| Charting - Indicators / Studies (Total) | 33 | N/A | |
| Charting - Drawing Tools (Total) | 20 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | IG | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 33 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | IG | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| 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 | Yes |
| Major Forex Pairs | IG | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | IG | Xtrade | |
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| Trust Score | 99 | 74 | |
| Winner | check_circle | ||
| Review | IG Review | Xtrade Review |
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