IG Alternatives

May 2019
Our top picks for IG alternatives
XTB eToro
IG Alternatives

The best alternatives to IG are

  1. XTB - Global CFD and FX broker
  2. eToro - Global social trading broker
  3. City Index - Global CFD and FX broker

Let's see in a bit more detail how the IG alternatives compare to IG and each other:

IG alternatives comparison
IGXTBeToroCity Index
Overall score4.54.54.54.4
Fees score 2 stars 4 stars 4 stars 3 stars
Account opening score 4 stars 5 stars 5 stars 4 stars
Deposit and withdrawal score 5 stars 5 stars 4 stars 4 stars
Web platform score 5 stars 4 stars 4 stars 4 stars
Markets and products score 3 stars 2 stars 3 stars 2 stars
Visit broker Visit broker Visit broker Visit broker

Why are these brokers considered good alternatives to IG? There are many areas based on which IG can be compared with others. When we say a given online broker is a good alternative to IG we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

IG alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • IG is recommended for traders with any experience level aiming for a great and easy-to-use trading platform
  • XTB is recommended for forex and cfd traders looking for great funding and withdrawal processes and research tools
  • eToro is recommended for beginner traders and those interested in social trading (copying other traders’ trades)
  • City Index is recommended for cfd and forex traders looking for low forex fees and great research tools

Important factors of finding IG alternatives

So far Brokerchooser has reviewed 29 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether IG or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. IG is considered to be a rather expensive broker. This gives you a good chance to cut your costs by choosing a cheaper IG alternative.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at IG, this might not be the case at its alternatives.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given IG alternative is a must.


Now let's dive into the details of how IG and its alternatives perform in the most important areas!


IG

IG logo

IG was established in the UK in 1974 and is one of the biggest CFD providers in the world. It is regulated by several bodies globally, including top-tier authorities like the FCA. IG Group is listed on the London Stock Exchange.

IG is considered safe because it is listed on a stock exchange, discloses its financials, and is overseen by top-tier regulators.

IG is primarily a CFD broker. If you are from the US, you can only trade with forex. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Forex trading involves risk. Losses can exceed deposits.

Best FX broker

Recommended for traders with any experience level aiming for a great and easy-to-use trading platform

Pros
  • Easy-to-use web trading platform
  • Helpful and reliable customer service
  • Great deposit and withdrawal tools
Cons
  • High trading fees
  • Limited product portfolio
  • Limited research tools

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IG
Fees 2 stars

IG's trading fees are high and non-trading fees are average. Its financing rate is one of the best.
Pros
  • Low financing rate
  • Transparent fee structure
Cons
  • High trading fees
  • Inactivity fee
IG alternatives trading fees
IGXTBeToroCity Index
Apple benchmark fee$34.9$18.1$0.0$22.1
Vodafone benchmark fee$30.5$24.4$0.0$30.7
EURUSD benchmark fee$12.3$17.1$19.1$13.6

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

IG
Account opening 4 stars

The account opening process is fast, user-friendly, and fully digital. On the other hand, the sales team is quite pushy.
Pros
  • Fast account opening
  • Fully digital account opening
  • No minimum deposit for bank transfer
Cons
  • The sales team is quite pushy, prompting you regularly to fund your account
IG alternatives minimum deposit and account open times
IGXTBeToroCity Index
Minimum deposit$0$250$200$0
Time to open account1-3 days1 day1 day>3 days

Learn more about the IG minimum deposit here.

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IG
Deposit and withdrawal 5 stars

You have several options to transfer money. The transfer process is user-friendly and fast.
Pros
  • Credit/Debit card deposit and withdrawal
  • Several account base currencies
  • User-friendly
Cons
  • Not transparent on available base currencies
IG and alternatives withdrawal options and fees
IGXTBeToroCity Index
Bank TransferYesYesYesYes
Credit/Debit cardYesNoYesYes
Electronic walletsNoNoYesNo
Withdrawal fee$0$0$25$0

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IG
Web trading platform 5 stars

IG's web platform is great. It is easy to use, has all necessary functions and can be customized. Even first-time users can familiarize themselves with it instantly.
Pros
  • User-friendly
  • Two-step (safe) login
  • Good search function
  • Good customizability (for charts, workspace)
Cons
None
IG - Web trading platform
IG and alternatives trading platform scores
IGXTBeToroCity Index
Web platform score 5 stars 4 stars 4 stars 4 stars
Mobile platform score 5 stars 4 stars 5 stars 4 stars
Desktop platform score- 4 stars - 3 stars

Learn more about IG's web trading platform in the detailed IG review.

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IG
Markets and products 3 stars

At IG, most clients can only trade with CFDs, forex and options. There are literally thousands of CFDs available to trade. The UK and some other clients can also trade with shares.
IG and alternatives markets and products
IGXTBeToroCity Index
StockYesYesYesNo
ETFYesYesYesNo
ForexYesYesYesYes
FundNoNoNoNo
BondNoNoNoNo
OptionsYesNoNoNo
FuturesNoNoNoNo
CFDYesYesYesYes
CryptoYesYesYesYes

More Visit broker

#1 IG alternative - XTB
XTB

XTB logo

XTB is primarily a forex and CFD broker, while in some countries you can also trade with stocks. XTB is a global broker with more than ten offices worldwide. In Europe, it serves clients via a UK or a Polish entity. We tested the UK entity, but will provide info on all entities.

XTB is listed on the Warsaw Stock Exchange. A listed company is more transparent, as it discloses its financials regularly. XTB is authorized and regulated by different regulators, including a top-tier financial authority, the FCA.

XTB is considered safe because it is listed on a stock exchange, discloses its financials, and is regulated by a top-tier regulator.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs carry risk. 73-79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best CFD broker

Recommended for forex and cfd traders looking for great funding and withdrawal processes and research tools

Pros
  • Fast deposit and withdrawal
  • Fast and user-friendly account opening
  • Good research tools
Cons
  • Limited product portfolio, mostly CFD and FX
  • Sales team can be pushy
  • No 24/7 customer support

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XTB
Fees 4 stars

XTB has average trading fees and low non-trading fees.
Pros
  • Low non-trading fees
  • No withdrawal fee
  • No inactivity fee
Cons
None
IG vs. XTB: Trading fees
XTBIG
Apple benchmark fee$18.1$34.9
Vodafone benchmark fee$24.4$30.5
EURUSD benchmark fee$17.1$12.3

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

XTB
Account opening 5 stars

XTB account opening is hassle-free and straightforward. Your account is ready for trading on the same day. However, the sales team is very pushy.
Pros
  • Fast account opening
  • Fully digital account opening
  • User-friendly
Cons
  • Sales team pushy
IG vs. XTB: Minimum deposit, time to open an account
XTBIG
Minimum deposit$250$0
Time to open account1 day1-3 days

If you are interested more in XTB minimum deposit, this overview will help you.

More Visit broker

XTB
Deposit and withdrawal 5 stars

XTB's deposit and withdrawal are cost-friendly, fast, and can be done in several forms. Fees for electronic wallet deposits are quite high.
Pros
  • Credit/Debit card deposit and withdrawal
  • Quick funding and withdrawal -within 3 days
  • User-friendly
Cons
  • High fees for electronic wallet deposits
IG vs. XTB: Withdrawal options
XTBIG
Bank TransferYesYes
Credit/Debit cardNoYes
Electronic walletsNoNo
Withdrawal fee$0$0

More Visit broker

XTB
Web trading platform 4 stars

XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, we missed the two-step login, the leverage setting option and the more sophisticated order types.
Pros
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
Cons
  • No two-step (safe) login
  • Limited order types
Web trading platform of XTB, a IG alternative
IG vs. XTB: Trading platform scores
XTBIG
Web platform score 4 stars 5 stars
Mobile platform score 4 stars 5 stars
Desktop platform score 4 stars -

Learn more about XTB's web trading platform in the detailed XTB review.

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XTB
Markets and products 2 stars

UK residents, Hungarians and non-Europeans can trade only with CFDs and forex. All other Europeans can also trade with stocks and ETFs.
IG vs. XTB: Markets and products
XTBIG
StockYesYes
ETFYesYes
ForexYesYes
FundNoNo
BondNoNo
OptionsNoYes
FuturesNoNo
CFDYesYes
CryptoYesYes

More Visit broker

#2 IG alternative - eToro
eToro

eToro logo

eToro is a well-known fintech startup, an Israeli social trading broker established in 2007. eToro serves UK clients by an FCA regulated entity and Australians by an Australian entity. All other customers are served by a Cypriot entity. eToro is not listed on any exchange, does not disclose its annual report on its site and does not have a bank parent. It is also one of the 5 best trading platforms for Europeans.

eToro is considered safe because it's UK arm is regulated by a top tier regulator and it is a well-known fintech startup.

eToro is a multi-asset platform which offers primarily CFDs, but you can also invest in stocks and crypto assets. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best social trading

Recommended for beginner traders and those interested in social trading (copying other traders’ trades)

Pros
  • Free stock and ETF trading in the EU
  • Seamless account opening
  • Social trading experience
Cons
  • Poor customer service
  • Trading platform outages
  • Limited educational tools

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eToro
Fees 4 stars

eToro offers free stock trading in Europe and has low fees for non-EU clients. On the negative side, the non-trading fees and financing rates are high.
Pros
  • Free stock and ETF trading in the EU
  • Low fees for non-EU clients
  • Transparent fee structure
Cons
  • High financing rate
  • $25 withdrawal fee
  • $10 monthly inactivity fee
IG vs. eToro: Trading fees
eToroIG
Apple benchmark fee$0.0$34.9
Vodafone benchmark fee$0.0$30.5
EURUSD benchmark fee$19.1$12.3

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

eToro
Account opening 5 stars

Account opening is enjoyable and super fast.
Pros
  • Fast account opening
  • No minimum account balance
  • User-friendly
Cons
None
IG vs. eToro: Minimum deposit, time to open an account
eToroIG
Minimum deposit$200$0
Time to open account1 day1-3 days

If you are interested more in eToro minimum deposit, this overview will help you.

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eToro
Deposit and withdrawal 4 stars

It is easy to deposit with a lot of options, including credit cards. However, there is a withdrawal fee, and only USD accounts are available.
Pros
  • Credit/Debit card deposit and withdrawal
  • No deposit fee
  • User-friendly
Cons
  • High withdrawal fee
  • Only one account base currency
IG vs. eToro: Withdrawal options
eToroIG
Bank TransferYesYes
Credit/Debit cardYesYes
Electronic walletsYesNo
Withdrawal fee$25$0

More Visit broker

eToro
Web trading platform 4 stars

eToro’s web trading platform is nice looking and easy-to-use. Getting your fee report is a bit of a pain.
Pros
  • User-friendly
  • Looks nice
  • Social trading
Cons
  • No clear fee report available
  • Cannot be customized
Web trading platform of eToro, a IG alternative
IG vs. eToro: Trading platform scores
eToroIG
Web platform score 4 stars 5 stars
Mobile platform score 5 stars 5 stars
Desktop platform score--

Learn more about eToro's web trading platform in the detailed eToro review.

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eToro
Markets and products 3 stars

At eToro you can trade with CFDs and forex. There are also real stocks, ETFs, and many cryptos. It also offers innovative services, like social trading, "CFD funds" and real crypto wallet.
IG vs. eToro: Markets and products
eToroIG
StockYesYes
ETFYesYes
ForexYesYes
FundNoNo
BondNoNo
OptionsNoYes
FuturesNoNo
CFDYesYes
CryptoYesYes

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#3 IG alternative - City Index
City Index

City Index logo

City Index was founded in 1983 and it is a Global CFD and FX broker. It is regulated by top-tier regulators, like the UK FCA and the Australian ASIC.

City Index is considered safe because it has a long track record, its parent company is listed on stock exchange, and is regulated by top-tier regulators.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for cfd and forex traders looking for low forex fees and great research tools

Pros
  • Low forex fees
  • Diverse and high-quality research tools
  • Great customer support
Cons
  • High stock CFD fees
  • Limited product portfolio
  • Not user-friendly desktop platform

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City Index
Fees 3 stars

City Index has average trading and non-trading fees. Its financing rates are low.
Pros
  • No withdrawal fee
  • Low financing rate
Cons
  • Inactivity fee
IG vs. City Index: Trading fees
City IndexIG
Apple benchmark fee$22.1$34.9
Vodafone benchmark fee$30.7$30.5
EURUSD benchmark fee$13.6$12.3

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

City Index
Account opening 4 stars

City Index account opening is fully digital and there is no minimum deposit. But, it can take more days.
Pros
  • Fully digital account opening
  • No minimum account balance
Cons
  • Slow account opening
IG vs. City Index: Minimum deposit, time to open an account
City IndexIG
Minimum deposit$0$0
Time to open account>3 days1-3 days

If you are interested more in City Index minimum deposit, this overview will help you.

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City Index
Deposit and withdrawal 4 stars

City Index deposit and withdrawal are free and user-friendly. On the flip side, electronic wallets are missing and you cannot select your account currency.
Pros
  • Credit/Debit card deposit and withdrawal
  • Free withdrawal
  • No deposit fee
Cons
  • Missing electronic wallets
  • Base currencies cannot be selected
IG vs. City Index: Withdrawal options
City IndexIG
Bank TransferYesYes
Credit/Debit cardYesYes
Electronic walletsNoNo
Withdrawal fee$0$0

More Visit broker

City Index
Web trading platform 4 stars

City Index web trading platform is extremely customizable. It also has a lot of order types. On the flip side, there is no two-step login.
Pros
  • User-friendly
  • Clear fee report
  • Good search function
Cons
  • No two-step (safe) login
Web trading platform of City Index, a IG alternative
IG vs. City Index: Trading platform scores
City IndexIG
Web platform score 4 stars 5 stars
Mobile platform score 4 stars 5 stars
Desktop platform score 3 stars -

Learn more about City Index's web trading platform in the detailed City Index review.

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City Index
Markets and products 2 stars

At City Index, you can trade only with CFDs, forex, and cryptos.
IG vs. City Index: Markets and products
City IndexIG
StockNoYes
ETFNoYes
ForexYesYes
FundNoNo
BondNoNo
OptionsNoYes
FuturesNoNo
CFDYesYes
CryptoYesYes

More Visit broker

IG alternatives
Bottom line

Based on our analysis, there are several good alternatives to IG. They all offer similar products and target similar customers. Here's a recap of the results in a table.

IG alternatives
BrokerInfoRecommended for
IGGlobal CFD and FX brokerTraders with any experience level aiming for a great and easy-to-use trading platform
XTBGlobal CFD and FX brokerForex and CFD traders looking for great funding and withdrawal processes and research tools
eToroGlobal social trading brokerBeginner traders and those interested in social trading (copying other traders’ trades)
City IndexGlobal CFD and FX brokerCFD and forex traders looking for low forex fees and great research tools

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

AUTHOR

Dan Sallai
Dan Sallai
CMO
My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.
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