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IG vs Interactive Brokers 2023

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between IG and Interactive Brokers? 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 Interactive Brokers.

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Compare

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Overall Rating IG Interactive Brokers
Overall Rating 9.9 / 10 9.9 / 10
Account Type IG Interactive Brokers
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes No
Islamic Account info No No
Copy Trading IG Interactive Brokers
Social Trading / Copy Trading info No No
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency IG Interactive Brokers
Cryptocurrency (Physical) info No Yes
Cryptocurrency (Derivative) info Yes No
Bitcoin info Yes Yes
Ethereum info Yes Yes
Forex Trading (Spot or CFDs) IG Interactive Brokers
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) IG Interactive Brokers
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments IG Interactive Brokers
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info Yes No
Social Trading / Copy Trading info No No
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes Yes
ETF info Yes Yes
U.S. Stocks (CFD) info Yes Yes
Trading Platforms IG Interactive Brokers
Apple iOS App info Yes Yes
Android App info Yes info Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info Yes No
MetaTrader 5 (MT5) info No No
Regulatory Licenses IG Interactive Brokers
Tier-1 Licenses info 8 9
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info No Yes
Hong Kong (SFC Authorised) info No Yes
Japan (SFC Authorised) info Yes Yes
Singapore (MAS Authorised) info Yes Yes
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info Yes Yes
New Zealand (FMA Authorised) info Yes No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses info 2 1
Tier-3 Licenses info 0 0
Research, Education IG Interactive Brokers
Trading Central (Recognia) info No Yes
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info Yes Yes
Autochartist info Yes No
Investor Dictionary (Glossary) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes Yes
Trading Costs IG Interactive Brokers
Minimum Deposit info £250.00 $0
Average Spread EUR/USD - Standard info 0.98 info 0.63 info
All-in Cost EUR/USD - Active info 0.82 info 0.63 info
Active Trader or VIP Discounts info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes No
PayPal (Deposit/Withdraw) info Yes No
Trading Tools IG Interactive Brokers
Watchlists - Total Fields info 5 640
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 33 128
Mobile Charting - Indicators / Studies info 33 70
Trust Factors IG Interactive Brokers
Year Founded info 1974 1977
Publicly Traded (Listed) info Yes Yes
Bank info Yes No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Trust Score info 99 99
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IG vs Interactive Brokers Comparison

Comparing forex brokers side by side is no easy task. Our research team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Trying to decide between IG and Interactive Brokers? Our independent database powered by our unbiased research will help you compare IG vs Interactive Brokers side-by-side.

What is Trust Score?

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

Can I trust IG?

IG has a Trust Score of 99, giving it a "Highly Trusted" Trust Score Label.

Can I trust Interactive Brokers?

Interactive Brokers has a Trust Score of 99, giving it a "Highly Trusted" Trust Score Label.

Is IG a good broker?

Year after year, IG has shown itself to be the best broker in the forex industry. Highly trusted and regulated in a staggering eight Tier-1 jurisdictions, IG holds a Trust Score rating of 99. Though IG does offer MetaTrader 4, IG’s proprietary web-based trading platform steals the show with its wide variety of rich features, market research, and powerful trading tools. Fans of social copy trading will appreciate IG’s seamless integration of trading signals into its web platform. IG has won countless Annual Awards from our sister site, ForexBrokers.com, and is a fantastic choice for forex traders of all experience levels.

Is Interactive Brokers a good broker?

Founded in 1977, Interactive Brokers is a long-standing highly trusted broker that holds a stunning nine Tier-1 licenses from regulatory jurisdictions across the globe numerous regulatory licenses. We've consistently rated Interactive Brokers as an excellent choice for professional traders, and its Trader Workstation (TWS) platform offers a variety of advanced trading tools that will be appreciated by experienced traders. Interactive Brokers delivers access to over 100 markets, including forex and CFDs. IBKR's recently introduced web-based platform is a great choice for beginner forex traders, and its powerful research and extensive educational content make for a balanced experience for newcomers and professionals alike.

What Tier-1 jurisdictions is each broker regulated in?

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. IG holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized). Interactive Brokers, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: Australia (ASIC Authorised), Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized). Neither have Switzerland (FINMA Authorised)

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 Cyprus (CySEC Authorised), South Africa (FSCA Authorised) and UAE (DFSA/Central Bank Authorised), while Interactive Brokers is India (SEBI Authorised).. Neither have China (CBRC Authorised), Israel (ISA Authorised), Russia (CBR Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses IG is Bermuda (BMA Authorised), while Interactive Brokers is none.. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that both IG and Interactive Brokers offer a Proprietary Platform and Desktop Platform (Windows). Neither have cTrader, DupliTrade and ZuluTrade

Does IG offer MetaTrader? Does Interactive Brokers offer MetaTrader?

For MetaTrader IG provides MetaTrader 4 (MT4), while Interactive Brokers provides neither of these. If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.. Neither have MetaTrader 5 (MT5)

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

IG requires a minimum deposit of £250.00, while Interactive Brokers requires a minimum deposit of $0. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that IG supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for funding and deposit methods, whereas Interactive Brokers supports Bank Wire (Deposit/Withdraw). Neither have Skrill (Deposit/Withdraw)

Which broker offers more tradeable asset classes, IG or Interactive Brokers?

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that IG delivers a more diverse selection of investment options than Interactive Brokers, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Spread Betting, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Neither have Social Trading / Copy Trading.

We also keep track of each broker’s total number of tradeable symbols; IG offers 19537, and Interactive Brokers offers a total of 8500 tradeable symbols.

Can I trade cryptocurrency with IG or Interactive Brokers?

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither IG nor Interactive Brokers allow you to trade physical cryptocurrencies.

Who offers more research tools, IG or Interactive Brokers?

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. IG delivers the following research tools: Autochartist, Daily Market Commentary, Stock Charts and Forex News (Top-Tier Sources). Interactive Brokers, on the other hand, provides the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Trading Central (Recognia). Neither have Social Trading / Copy Trading

Broker Reviews

Still looking for more information, read our broker reviews.

IG Review

Interactive Brokers Review

Overall winner: IG

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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.

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