IG Group vs FXChoice

IG vs FXChoice Comparison Table 2024
IG FXChoice
4.4

IG is #3 in our CFD broker rankings.

FXChoice has closed.
United States Flag Traders from US accepted
United States Flag Traders from US not accepted

Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

FXChoice is a Belize-based broker established in 2010 and registered with the Financial Services Commission (FSC). The brand offers a wide selection of markets including crypto, plus the familiar MT4 and MT5 platforms. FXChoice stands out for its extra tools and perks, from LearnFx EAs to a VPS and Myfxbook's AutoTrade. New users can also claim a welcome bonus upon sign-up.

Forex trading involves risk. Losses can exceed deposits.
Customer Reviews
4
Bonus Offer
50% or 65% Welcome Deposit Bonus
Comment by Reviewer
"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders." "We recommend FXChoice for active traders with high leverage up to 1:1000, spreads from 0.0 pips and a five-tier loyalty program with fee rebates."
Pros
  • IG is amongst the best in terms of its range of instruments, which includes stocks, forex, indices, commodities, and cryptocurrencies, providing ample diversification opportunities
  • The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading
  • The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our Best Trading App award
  • As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust
  • IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis
  • The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met
  • Tight spreads starting from 0.0 pips
  • Bitcoin deposits and withdrawals
  • GPS robot 100k EA download
  • Hedging and scalping allowed
  • MT4 and MT5 downloads
  • Commission-free trading
  • FIFO rule not applicable
  • Cryptocurrency trading
  • Social trading solution
  • Pips+ loyalty scheme
  • VPS available
Cons
  • Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges
  • While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients
  • IG has discontinued its swap-free account, reducing its appeal to Islamic traders
  • Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests
  • IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors
  • Limited selection of commodities
  • Weak regulatory oversight
Awards
  • Best Customer Service 2022 - Online Money Awards
  • Best Spread Betting Provider 2022 - Online Money Awards
  • Best Platform for the Active Trader 2022 - ADVFN International Financial Awards
  • Best Multi Platform Provider 2022 - ADVFN International Financial Awards
  • Best Finance App 2022 - ADVFN International Financial Awards
  • Exceptional Customer Service 2019 - 2021 - LiveHelpNow
Instruments
CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting CFDs, Forex, Indices, Commodities, Cryptocurrencies, Shares
Demo Account
Yes Yes
Minimum Deposit
$0 $100
Trading Platforms
  • Web
  • ProRealTime
  • L2 Dealer
  • MT4
  • AutoChartist
  • TradingCentral
  • MT4
  • MT5
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA FSC
Margin Trading
Yes Yes
Margin Rate
2.5%
STP Account
No No
ECN Account
No Yes
DMA Account
Yes No
MAM Account
No Yes
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
Yes No
Negative Balance Protection
Yes Yes
Market Maker
Yes Yes
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
iOS & Android iOS & Android
App Review

IG offers a superb all-round trading app. One of the pioneers of mobile trading, the application has been developed and refined over many years, meaning it is now among the best trading apps. Quick response, user-friendly layout, access to full charting and a stable and reliable application. It also offers guaranteed stops – an important risk management tool not available on many apps we’ve tested.

MT4 and MT5 apps are available to download form the Apple and Google Play stores. Both applications offers one-click trading, advanced charts and graphs, built-in support, plus instant and pending order types. MT4 is best suited to forex beginners while MT5 will meet the needs of experienced FX traders.

Android App Rating
4
iOS App Rating
4.6
Auto Trading
Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime Expert Advisors (EAs) on MetaTrader
Copy Trading
No Yes
Copy Trading Platform
FXChoice has partnered with Myfxbook AutoTrade to offer copy trading to all account holders. You can find and follow the strategies of multiple traders with straightforward account management. MQL5 signals can also be used to inform buy or sell decisions.
Social Trading
No Yes
Trade Signals
Yes Yes - MQL5
VPS Hosting
Yes Yes
Tournaments
No No
Demo Competitions
No No
Ethical Investing
Yes No
Custodial Account
No No
Guaranteed Stop Loss
Yes No
Inactivity Fee
$12
Islamic Account
No Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • ZAR
  • SEK
  • DKK
  • CHF
  • HKD
  • SGD
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
Stock Exchanges
Commodities
CFD Trading
IG offers a huge selection of 17,000+ CFDs, providing more trading opportunities than most CFD brokers. Traders can go long or short on popular markets like stocks, currencies, commodities and cryptos, while custom price alerts and the IG Academy continue to enhance the trading experience. FXChoice offers highly leveraged CFD products on a breadth of financial markets, including shares, indices, commodities and crypto. FXChoice provides more supporting tools than many alternatives, including signals, auto trading, a VPS, and a research center.
Leverage
1:30 (Retail), 1:250 (Pro) 1:200
FTSE Spread
1.0 From $18.53
GBPUSD Spread
0.9 From $8
Oil Spread
2.8 From $40
Stocks Spread
0.02 Variable
Forex Trading
IG offers an above-average suite of 80+ currency pairs on its proprietary web platform, mobile app or MetaTrader 4, with more advanced charts and forex analysis tools available on the ProRealTime software. Forex spreads are competitive based on tests, starting from 0.1 pips on majors like the EUR/USD. Trade 36 forex pairs, including the EUR/USD with spreads from zero pips. FXChoice offers higher leverage on forex than most competitors, alongside 24/5 support and an accessible $10 starting deposit.
Forex App

IG offers a superb all-round trading app. One of the pioneers of mobile trading, the application has been developed and refined over many years, meaning it is now among the best trading apps. Quick response, user friendly layout, access to full charting and a stable and reliable application. Top marks.

MT4 and MT5 apps are available to download form the Apple and Google Play stores. Both applications offers one-click trading, advanced charts and graphs, built-in support, plus instant and pending order types. MT4 is best suited to forex beginners while MT5 will meet the needs of experienced FX traders.

GBPUSD Spread
0.9 From $8
EURUSD Spread
0.8 From $5
EURGBP Spread
0.9 From $6.95
Assets
80+ 36
Currency Indices
  • USD
Cryptocurrency
IG's modest selection of 11 crypto CFDs trails top crypto brokers like Vantage which offers 40+ tokens. That said, it stands out with its crypto index, which tracks the value of the top 10 digital currencies by market cap and provides a holistic way to speculate on the value of the crypto market. FXChoice offers trading on leading crypto cross pairs with the US Dollar. The selection of digital assets is narrow but spreads are tight starting at 0.15.
Spread
Variable 0.11 - 3.0 pips
Coins
  • BTC
  • BCH
  • LTC
  • ETH
  • ADA
  • DOT
  • DOGE
  • LINK
  • UNI
  • XLM
  • BTC
  • LTC
  • ETH
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No Yes
FXChoice has closed.
Forex trading involves risk. Losses can exceed deposits.
More Comparisons
IG
vs
FXChoice
vs