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Head-to-head
Interactive Brokers vs IG: fees, regulation and platforms compared
Interactive Brokers and IG side by side on the things that decide which one suits you: who regulates the company you would join, what a trade costs, which platforms you get and whether you can open an account where you live.
Short answer: Choose Interactive Brokers if you trade larger sizes, where a 0.20 bp commission on pass-through quotes is cheap. Choose IG if you value a long track record: IG was founded in London in 1974. Neither of the companies we review accepts US retail forex clients.
Interactive Brokers vs IG at a glance
| Interactive Brokers | IG | |
|---|---|---|
| Regulation of main companies | FCA, Central Bank of Ireland, ASIC, CIRO and others | FCA, ASIC, DFSA |
| Minimum deposit | No account minimum | $0 by bank transfer (IG International); cards from $50 |
| EUR/USD pricing (headline) | From 0.1 pips + 0.20 bp of trade value ($2 minimum per order) | From 0.6 pips, spread-only |
| Platforms | Trader Workstation, IBKR Desktop, API | IG platform, MT4, ProRealTime |
| US retail forex clients | No leveraged retail forex for US clients | No (for the CFD business we review) |
| Background | Interactive Brokers Group, listed on Nasdaq (IBKR) | Founded 1974, London |
| 1-lot EUR/USD round turn at headline prices | about $5 | about $6 |
Round-turn costs use each broker's headline "from" price for 1 standard lot (100,000 units, $10 per pip) including any published commission. Real spreads are often wider. Try your own numbers in our forex cost calculator.
Which should you choose?
Choose Interactive Brokers if:
- you trade larger sizes, where a 0.20 bp commission on pass-through quotes is cheap
- you also want stocks, futures and options in one account
- you want an API
Watch out: The $2 minimum commission makes small trades relatively expensive, and the platforms have a steeper learning curve.
Choose IG if:
- you value a long track record: IG was founded in London in 1974
- you are in the UK and want spread betting as well as CFDs
- you want ProRealTime charting
Watch out: MT5 and cTrader are not on its platform list, so EA traders who need MT5 should look elsewhere.
Regulation and safety
Interactive Brokers lists FCA, Central Bank of Ireland, ASIC, CIRO and others. IG lists FCA, ASIC, DFSA. A broker's headline licences do not always cover you: the company that opens your account depends on where you live, and only that company's regulator protects you. Our legal entity guide shows how to check it on the regulator's own register.
Costs
Interactive Brokers: From 0.1 pips + 0.20 bp of trade value ($2 minimum per order). IG: From 0.6 pips, spread-only. Also compare overnight swap rates if you hold trades, and any deposit, withdrawal, inactivity or currency conversion fees. See spreads and commissions explained.
Platforms
Interactive Brokers: Trader Workstation, IBKR Desktop, API. IG: IG platform, MT4, ProRealTime. If you run Expert Advisors, check MetaTrader support first; see MT4 vs MT5.
FAQ
Is Interactive Brokers or IG cheaper?
On headline figures, a 1-lot EUR/USD round turn costs about $5 at Interactive Brokers and about $6 at IG. That makes Interactive Brokers cheaper on paper, but headline "from" prices are minimums and real spreads widen at quiet times.
Which is better regulated, Interactive Brokers or IG?
Interactive Brokers: FCA, Central Bank of Ireland, ASIC, CIRO and others. IG: FCA, ASIC, DFSA. What matters is the company that would hold your account, which depends on where you live.
Do Interactive Brokers and IG accept US clients?
Interactive Brokers: No leveraged retail forex for US clients. IG: No (for the CFD business we review).
What is the minimum deposit at Interactive Brokers and IG?
Interactive Brokers: No account minimum. IG: $0 by bank transfer (IG International); cards from $50.
Which platforms do Interactive Brokers and IG offer?
Interactive Brokers: Trader Workstation, IBKR Desktop, API. IG: IG platform, MT4, ProRealTime.
More comparisons
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Sources
- Forex Awards Interactive Brokers review (sources listed there)
- Forex Awards IG review (sources listed there)
Forex and CFDs are leveraged products and most retail accounts lose money. Forex Awards may earn commissions from some links; see our affiliate disclosure. This is general information, not financial advice.