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Interactive Brokers vs. IG

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Interactive Brokers and IG are top online brokers offering many platforms and assets. Interactive Brokers is a top choice for professional traders as it has many premium tools. It has top-tier licenses from the FCA and SEC. Interactive Brokers offers a premium trading experience with excellent tools and platforms. We recommend it for experienced traders based outside of the United States. 

IG offers well-designed and easy-to-customize trading platforms. It has a straightforward deposit and withdrawal process and impressive educational materials. IG has top-tier licenses from the FCA and BaFin. We recommend it for new traders because of its comprehensive learning and research tools. 

Both online brokers have advantages and disadvantages. This article discusses the differences between Interactive Brokers and IG. 

Broker NameInteractive BrokersIG
Year Founded19781974
RegulationSEC (USA), FCA (UK)FCA, BaFin
Tradable AssetsStock, ETF, Forex, Fund, Bond, Options, Futures,
CFD, Crypto, Warrants, Structured Products
Forex, CFDs
Min Deposit$0$0
Min Trade$0
PlatformsTraders Workstation (TWS)Web, Desktop, Mobile
DepositYou can open account without depositFree of charge
WithdrawalsFree of charge for the first withdrawal in calendar monthFree of charge

Top findings from the Interactive Brokers vs. IG review:  

  1. Interactive Brokers offers professional tools and platforms for experienced traders. 
  1. IG has many reliable learning tools and easy-to-understand platforms. 
  1. Both brokers offer a proprietary platform, an active trader discount, and a demo account. 

We recommend Interactive Brokers for non-US-based traders looking for professional platforms. IG is a better choice for beginners as it has many educational resources and analysis tools. 

Overall Rating

FeatureInteractive Brokers IG
Overall4.55
Commissions & Fees4.55
Offering of Investments55
Platforms & Tools4.55
Mobile Trading45
Research4.55
Education45
Trust Score9499
WinnerYES
66% of retail CFD accounts lose money70% of retail CFD accounts lose money

Level of experience  

Interactive Brokers offers access to many professional tools. It has Paper Trading, webinars, and articles. Interactive Brokers has a premium proprietary platform and excellent research tools. It is a top choice for experienced traders, as its platforms are challenging for beginners to learn. 

IG offers a leading web platform with useful educational and research tools. It has a virtual trading account and many learning resources, including training videos. IG has user-friendly and advanced research tools. We recommend it for traders of all levels of experience, especially beginners. 

Fees  

The initial deposit fee at Interactive Brokers is $0, while at IG is £250. Both brokers offer an active trader discount. 

Assets  

Interactive Brokers has 105 forex currency pairs, while IG has 104 available pairs. IG provides access to 19537 CFDs, while Interactive Brokers has 7400 available CFDs. 

Trading platform  

The Interactive Brokers trading platforms are an excellent choice for professionals. These come with reliable tools, a massive asset offering, and market research capabilities. Its mobile app offers access to professional charting tools. The web and desktop platforms focus on professional traders. 

IG has some of the leading trading platforms for both new and experienced traders. It offers a web and mobile platform with a straightforward design and secure authentication. IG has an excellent learning center with webinars, trading videos, and forex education. We recommend it for inexperienced traders. 

Banking services  

Banking services are essential for an excellent online trading experience. IG has many funding options, including bank transfers, credit/debit cards, and PayPal. Interactive Brokers offers bank transfers as its funding solution. 

Final verdict  

Interactive Brokers and IG are the top online brokers. Both have strengths and weaknesses, depending on your needs and trading skills. We recommend Interactive Brokers for professionals because of its premium tools. IG is a better fit for new traders as it offers user-friendly platforms and educational materials. 

Interactive Brokers compared to other brokers:

Interactive Brokers Review


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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