BrokerNotes.co is committed to the highest ethical standards and reviews services independently. Learn How We Make Money

IG vs FXCM 2023

BrokerNotes.co

Written by BrokerNotes.co

January 31, 2023

Trying to decide between IG and FXCM? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, IG ranks more highly than FXCM.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% 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.
Select Brokers×
Overall RatingIGFXCM
Overall Rating 9.9 / 10 8.5 / 10
Account TypeIGFXCM
Standard Trade Size (100,000 units) Yes Yes
Mini Trade Size (10,000 units) Yes Yes
Micro Trade Size (1,000 units) Yes Yes
Islamic Account No No
Copy TradingIGFXCM
Social Trading / Copy Trading Yes Yes
DupliTrade No No
ZuluTrade No Yes
CryptocurrencyIGFXCM
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)IGFXCM
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)IGFXCM
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsIGFXCM
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting Yes Yes
Social Trading / Copy Trading Yes Yes
Metals Yes Yes
Energies Yes Yes
Agriculturals Yes No
ETF Yes No
U.S. Stocks (CFD) Yes Yes
Trading PlatformsIGFXCM
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform Yes Yes
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) No No
Regulatory LicensesIGFXCM
Tier-1 Licenses 7 3
ASIC Authorised (Australia) Yes Yes
IIROC Authorised (Canada) No Yes
FCA Authorised (U.K.) Yes Yes
SFC Authorised (Hong Kong) No No
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) Yes No
CFTC Registered (USA) Yes No
Tier-2 Licenses 2 3
Tier-3 Licenses 1 0
Research, EducationIGFXCM
Trading Central (Recognia) No Yes
Forex News (Top-Tier Sources) Yes Yes
Daily Market Commentary Yes Yes
Autochartist Yes Yes
Investor Dictionary (Glossary) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Client Webinars (Archived) Yes Yes
Trading CostsIGFXCM
Minimum Initial Deposit £250.00 Starts from $50
Average Spread EUR/USD - Standard 0.86 (September 2022) 1.38 (Q2 2022)
All-in Cost EUR/USD - Active 0.5957 (September 2022) 1.38 (Q2 2022)
Active Trader or VIP Discounts Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) Yes No
Trading ToolsIGFXCM
Watchlists - Total Fields 14 12
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 33 57
Mobile Charting - Indicators / Studies 33 59
Trust FactorsIGFXCM
Year Founded 1974 1999
Publicly Traded (Listed) Yes Yes
Bank Yes No
Authorised in European Union Yes info Yes info
Trust Score 99 96
  • check_box_outline_blankcheck_boxACY Securities
  • check_box_outline_blankcheck_boxAdmiral Markets
  • check_box_outline_blankcheck_boxAlpari
  • check_box_outline_blankcheck_boxATFX
  • check_box_outline_blankcheck_boxAvaTrade
  • check_box_outline_blankcheck_boxAxiTrader
  • check_box_outline_blankcheck_boxBDSwiss
  • check_box_outline_blankcheck_boxBlackBull Markets
  • check_box_outline_blankcheck_boxCapital.com
  • check_box_outline_blankcheck_boxCity Index
  • check_box_outline_blankcheck_boxCMC Markets
  • check_box_outline_blankcheck_boxDooPrime
  • check_box_outline_blankcheck_boxeasyMarkets
  • check_box_outline_blankcheck_boxEightcap
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxExness
  • check_box_outline_blankcheck_boxFineco Bank
  • check_box_outline_blankcheck_boxFlowBank
  • check_box_outline_blankcheck_boxFOREX.com
  • check_box_outline_blankcheck_boxForex4you
  • check_box_outline_blankcheck_boxFP Markets
  • check_box_outline_blankcheck_boxFXCM
  • check_box_outline_blankcheck_boxFXOpen
  • check_box_outline_blankcheck_boxFXPrimus
  • check_box_outline_blankcheck_boxFxPro
  • check_box_outline_blankcheck_boxGBE brokers
  • check_box_outline_blankcheck_boxGKFX
  • check_box_outline_blankcheck_boxHFM
  • check_box_outline_blankcheck_boxHYCM (Henyep)
  • check_box_outline_blankcheck_boxIC Markets
  • check_box_outline_blankcheck_boxIG
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxIronFX
  • check_box_outline_blankcheck_boxLegacyFX
  • check_box_outline_blankcheck_boxLibertex (Forex Club)
  • check_box_outline_blankcheck_boxMarkets.com
  • check_box_outline_blankcheck_boxMoneta Markets
  • check_box_outline_blankcheck_boxOANDA
  • check_box_outline_blankcheck_boxOctaFX
  • check_box_outline_blankcheck_boxPepperstone
  • check_box_outline_blankcheck_boxPlus500
  • check_box_outline_blankcheck_boxRoboForex (RoboMarkets)
  • check_box_outline_blankcheck_boxSaxo Bank
  • check_box_outline_blankcheck_boxSpreadex
  • check_box_outline_blankcheck_boxSwissquote
  • check_box_outline_blankcheck_boxTD Ameritrade
  • check_box_outline_blankcheck_boxTeleTrade
  • check_box_outline_blankcheck_boxThinkMarkets
  • check_box_outline_blankcheck_boxTickmill
  • check_box_outline_blankcheck_boxTMGM
  • check_box_outline_blankcheck_boxTopFX
  • check_box_outline_blankcheck_boxTrade Nation
  • check_box_outline_blankcheck_boxTrade360
  • check_box_outline_blankcheck_boxTradeo
  • check_box_outline_blankcheck_boxTrading 212
  • check_box_outline_blankcheck_boxUFX
  • check_box_outline_blankcheck_boxVantage
  • check_box_outline_blankcheck_boxVestle
  • check_box_outline_blankcheck_boxVT Markets
  • check_box_outline_blankcheck_boxXM Group
  • check_box_outline_blankcheck_boxXTB
  • check_box_outline_blankcheck_boxXtrade
Compare 0 of 5
arrow_upward

IG vs FXCM Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare IG vs FXCM.

Can I trust IG?

IG has a trust score of 99, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.

Can I trust FXCM?

FXCM has a trust score of 96, giving it a "Highly Trusted" trust label.

Is IG a good broker?

We consider IG to be the best overall broker in the industry, due to its excellent pricing, oustanding educational materials, comprehensive research, vast range of markets, and its powerful trading platform suite. IG also continues to acquire more regulatory licenses, bolstering its status as a trustworthy broker.

Is FXCM a good broker?

FXCM, a Jefferies Group company, is a long-standing brand that caters to global forex and CFD traders. It offers multiple trading platforms for alogrithmic trading and social copy-trading alongside it's flagship platform suite. The range of markets available at FXCM has increased following the addition of its share trading feature, and its known for providing robust market research – though pricing at FXM is just average.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. IG is ASIC Authorised (Australia), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland), FCA Authorised (U.K.) and CFTC Registered (USA), while FXCM is ASIC Authorised (Australia), IIROC Authorised (Canada) and FCA Authorised (U.K.)., neither have SFC Authorised (Hong Kong) and CBI Authorised (Ireland)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, IG is FSCA Authorised (South Africa) and DFSA / Central Bank Authorised (UAE), while FXCM is CySEC Authorised (Cyprus), ISA Authorised (Israel) and FSCA Authorised (South Africa)., neither have CBRC Authorised (China), SEBI Authorised (India), CBR Authorised (Russia) and SEC Authorised (Thailand). When comparing tier-3 licenses IG is BMA Authorised (Bermuda), while FXCM is none., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms IG supports a Proprietary Platform and Desktop Platform (Windows), whereas FXCM supports a Proprietary Platform, Desktop Platform (Windows) and ZuluTrade., neither have cTrader and DupliTrade

Does IG offer MetaTrader? Does FXCM offer MetaTrader?

Both IG and FXCM offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4., neither have MetaTrader 5 (MT5)

How do IG and FXCM differ in terms of minimum deposit? What about average spreads and funding options?

IG requires a minimum deposit of £250.00, while FXCM requires a minimum deposit of Starts from $50. From our testing we found IG offers spreads of 0.86 (September 2022), while FXCM offers spreads of 1.38 (Q2 2022). IG supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for popular funding options, where FXCM supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, IG or FXCM?

IG offers a more diverse selection of investment options than FXCM allowing you to trade Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, IG has 19537, compared to 441 from FXCM.

Can I trade cryptocurrency with IG or FXCM?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither IG nor FXCM allow you to trade physical cryptocurrencies.

Who offers more research tools, IG or FXCM?

In terms of research and research tools IG gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. In comparison FXCM has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.

Broker Reviews

Still looking for more information, read our broker reviews.

IG Review

FXCM Review

Overall winner: IG

Popular Forex Reviews

Popular Forex Guides


Was this helpful?
Yes or No

announcementPlease 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.

close