Forex.com vs. IG: Which Broker Should You Choose?
When it comes to choosing a reliable forex broker, Forex.com and IG are two of the most recognized names in the industry. Both brokers offer competitive spreads, robust platforms, and a long-standing reputation. But which one is better suited to your trading needs?
In this review, we’ll compare Forex.com and IG across several key areas: regulation, trading platforms, available markets, fees, account types, and user experience. By the end, you’ll have a clear understanding of which broker might be the best fit for you.
Regulation and Trustworthiness
Forex.com
Forex.com is a brand of StoneX Group Inc., a NASDAQ-listed financial services firm. It is heavily regulated and licensed in several major jurisdictions:
- CFTC and NFA in the US
- FCA in the UK
- IIROC in Canada
- ASIC in Australia
- FSC in the Cayman Islands
With over 20 years in operation, Forex.com is considered one of the most secure brokers for US-based traders and global clients alike.
IG
IG Group is a publicly traded company listed on the London Stock Exchange. Founded in 1974, it is one of the oldest and most respected online trading providers. Regulatory oversight includes:
- FCA in the UK
- CFTC in the US (through IG US)
- ASIC, MAS, FSCA, and more globally
IG is a pioneer in forex and CFD trading, with a strong reputation for transparency and stability.
Verdict: Both brokers are well-regulated and trustworthy. IG has broader global reach, but Forex.com is slightly more favorable for US traders due to its long-standing CFTC and NFA presence.
Trading Platforms
Forex.com
Forex.com offers multiple platforms to cater to various types of traders:
- Forex.com WebTrader: Simple, fast, and beginner-friendly
- MetaTrader 4 (MT4): Popular among forex traders who use automated strategies
- Advanced Trading Platform: A downloadable desktop platform with advanced charting and technical tools
IG
IG provides its own proprietary web-based platform known for its sleek design and robust features:
- IG Trading Platform: Ideal for traders who want advanced tools without needing MT4
- MetaTrader 4: Available for those who prefer the classic MT4 interface
- ProRealTime: Advanced technical charting platform (optional)
- L2 Dealer: Direct market access platform for serious equity and forex traders
Verdict: IG wins in platform diversity and customizability, while Forex.com provides a more streamlined platform experience for beginners and intermediate traders.
Markets and Instruments
Forex.com
Forex.com offers:
- 80+ currency pairs
- Commodities
- Indices
- Cryptocurrencies (available in some jurisdictions)
- Shares (for UK and international clients)
Forex.com focuses more on forex and CFD trading, especially in the US where crypto and stock CFDs are restricted due to regulations.
IG
IG has one of the broadest ranges of tradable instruments in the industry:
- 100+ forex pairs
- 17,000+ markets including stocks, indices, commodities, options, ETFs, and cryptocurrencies
- Spread betting (for UK clients)
IG’s global reach allows them to offer more diversified instruments compared to most competitors.
Verdict: IG is a clear winner if you want access to a wide variety of markets beyond forex.
Trading Costs and Spreads
Forex.com
Forex.com offers two main account types:
- Standard Account: No commissions, spreads from 1.0–1.2 pips
- Commission Account: Raw spreads (as low as 0.2 pips) + $5 commission per 100k traded
Spreads are competitive, especially on the commission account. No deposit or withdrawal fees are charged.
IG
IG offers variable spreads that are generally tight:
- EUR/USD average spread: 0.6–0.8 pips (no commission)
- No commission on standard accounts
- DMA accounts for pro traders include direct market spreads + commissions
There may be inactivity fees after 2 years of dormancy, and some funding methods may incur fees depending on region.
Verdict: IG has slightly tighter spreads on average, but Forex.com’s commission account can be better for active traders.
Account Types and Minimum Deposits
Forex.com
- Minimum deposit: $100 (but $250+ recommended)
- Account types: Standard, Commission-based, DMA (for advanced users)
- US clients can open individual or joint accounts, plus trust and corporate accounts
IG
- Minimum deposit: $250
- Account types: Standard, DMA, spread betting (UK only)
- IG also offers demo accounts, corporate accounts, and ISA accounts (UK residents)
Verdict: Forex.com offers slightly more flexibility for entry-level traders, especially in the US. IG caters better to global and high-volume traders.
Education and Research
Forex.com
Forex.com offers solid educational resources:
- Beginner to advanced trading guides
- Video tutorials
- Market analysis
- Economic calendar
- Webinars
The integrated Market Analysis section offers daily insights and trade ideas written by in-house experts.
IG
IG has one of the most comprehensive educational libraries:
- IG Academy: Structured courses with quizzes
- Live webinars and platform walkthroughs
- Daily market analysis and trading ideas
- Pro-level reports and news feeds from Reuters
Verdict: IG excels in education and research. Its structured learning system makes it a top choice for beginners and advanced traders alike.
Mobile Trading
Both brokers offer excellent mobile trading apps with full access to trading features, charts, and account management.
- Forex.com App: Clean, easy to use, and fast execution
- IG App: Customizable layout, powerful tools, and access to news and alerts
Verdict: Both apps are top-tier, but IG’s mobile platform offers more customization for active traders on the go.
Customer Support
Forex.com
- Support via live chat, email, and phone
- 24/5 availability
- Dedicated account managers for high-volume traders
IG
- 24/5 support through phone, email, live chat
- Large help center and video walkthroughs
- Local offices in major regions
Verdict: Both brokers offer solid support. IG’s global presence gives it a slight edge in accessibility.
Final Verdict: Forex.com or IG?
Choose Forex.com if:
- You are a US-based trader
- You want a straightforward platform with solid regulation
- You trade primarily in forex and CFDs
- You prefer commission-based raw spread trading
Choose IG if:
- You want access to a wide variety of markets
- You value educational tools and a user-friendly platform
- You’re located outside the US and want more asset classes
- You plan to scale your trading with DMA or ProRealTime
Both Forex.com and IG are industry leaders. The right choice depends on your trading goals, experience level, and the type of markets you want to access.
