XTB vs IG: Which Is the Best Forex and CFD Broker?

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If you’re wondering which broker to choose, you’ve probably already found yourself weighing up XTB vs IG among all the brokers available. These brokers are increasingly present both in France and internationally. Each of these platforms, however, has strengths and weaknesses in the brokerage services it offers clients. In this comparison, you’ll find a side-by-side analysis of the different aspects that make them standout brokers, so you can decide who comes out on top at the end of this head-to-head.

XTB vs IG Markets: which is the best broker?

XTB and IG Markets are similar on several points in the brokerage services they offer traders. This is particularly clear when it comes to trading platforms, trading fees, account types and security arrangements. They could also be compared with Vantage, which is one of the best-performing brokers for CFD and forex trading.

  • IG Markets is the online broker with the widest variety of financial instruments on its platform. As a result, it is aimed a little more at traders looking to diversify the types of investments they make. It’s also worth adding that IG Markets is one of the oldest brokers we have reviewed. It therefore has a kind of legitimacy that other brokers lack.
  • XTB is a broker that is generally well regarded, which has earned it a number of positive reviews. Given its brokerage offering, a large part of which is dedicated to education, the Polish broker is open to traders of all levels. We would therefore recommend it for a broad audience.

On related topics, our articles “Best Forex Broker Canada” and “XTB vs eToro” are a good complement to this read.

XTB vs IG Markets: key information

To get a better sense of the different sides of these two online brokers, it’s worth reviewing some key information about their business.

XTB at a glance

  • XTB is a Polish stock and derivatives broker with offices in Paris;
  • It was founded in 2002 under the name X-Trade;
  • It is regulated and authorized in several countries around the world, thanks to licenses from well-known financial authorities such as CySEC in Cyprus, the FCA in the UK, the KNF in Poland and the IFSC in Belize.
  • It offers clients trading in more than 5,200 assets on its online platform.
  • In addition to France and Poland, XTB has offices in 12 countries around the world. This makes it one of the brokers with the strongest physical presence in the countries where it provides online services.
  • The brokerage of X-Trade Brokers DM S.A now has close to 315,000 clients spread across the globe.

IG at a glance

  • IG is a broker that has been around since 1974;
  • It has a total of 239,000 traders on its online platforms;
  • IG Markets offers 17,000 financial instruments across several asset classes;
  • The British online broker is regulated and authorized in most European countries and beyond. No fewer than 13 countries, including France, currently host IG Group offices.
  • It is also one of the best-regulated brokers you will find online. It holds no fewer than 10 licenses from serious financial bodies such as the FCA in the UK, BaFin in Germany, ASIC in Australia and the FSA in Japan.

XTB vs IG Markets: awards

The two brokers we are comparing today have collected a number of awards over the years. While the categories differ, the number of awards they have won is quite impressive. To give you an idea, here are some of the trophies received by XTB and IG Markets.

Security measures

Most traders take it as a given that security is central to how reliable a brokerage platform is. Still, it’s worth noting that the more transparently a trading site communicates about its offering, the less your funds are at risk. This comparison therefore looks at XTB’s and IG Markets’ trading offerings on several important aspects, including the measures taken to keep your capital safe. You surely want to know whether the money you invest with these brokers is really in good hands. Let’s look at the measures these brokers have put in place:

  • The first safeguard you benefit from when you sign up with either broker is the regulation of their services. These brokers have made a name for themselves among the many offerings available thanks to the financial authorities that regulate them — all the more so as they hold multiple licenses from respected bodies in the world of finance.
  • Account segregation is also in place at both XTB and IG. This means client funds are held in bank accounts separate from those of the online brokers. As a result, there is no risk of your money being mixed with that of either brokerage firm. Here the brokers comply with one of ESMA’s rules on the conduct of financial business. In XTB’s case, client funds are held by BNP Paribas.
  • Negative balance protection is another of the security measures offered by the brokers we are comparing. In other words, you cannot end up owing money to either company after uncontrolled trades.
  • In line with European regulatory requirements, both brokers apply a negative balance protection policy. This means traders cannot lose more than they have invested.
  • XTB offers its clients a compensation fund in the event of disputes related to the broker ceasing operations. This compensation fund goes up to €20,000.

XTB vs IG: available assets

Most of the assets available at XTB and IG are common to the vast majority of brokerage offerings. You’ll find the main financial assets revolving around forex and CFDs. Still, let’s look at the features specific to these two well-known brokers.

  • Both offer roughly the same assets: CFDs, indices, stocks, commodities, cryptocurrencies, ETFs and forex. The main difference lies in how many of each they offer.
  • IG offers more than 20,000 different financial instruments. It is clearly one of the online brokers with the widest range of markets available for online trading.
  • At XTB, traders have access to more than 5,200 assets, including 48 currency pairs, 20 indices from around the world, commodities such as gold, oil and silver, more than 2,000 stocks from the world’s 16 largest exchanges, more than 200 ETFs from around the world, and several cryptocurrency CFDs, including Bitcoin, Ripple and Ethereum CFDs.

XTB vs IG: trading

Each broker offers a full brokerage package that differs somewhat from the others, which makes it more or less easy to tell each platform apart. That is exactly the case with the brokers in this head-to-head. Although XTB and IG remain very close to the highest-quality services on the market, each has played to its own strengths. Let’s explore what they offer for trading itself and where their advantages lie.

  • XTB and IG are really very close in their respective approaches to financial investing. There are many similarities in what they offer their clients — leverage, for example.
  • The leverage XTB and IG offer their clients is also similar. Fortunately, the maximum margin on capital is fairly high. By choosing one of these brokers, you can benefit from leverage of 1:200 when trading your favorite assets.

Trading accounts

These are online accounts that give you access to different features depending on the broker. There are, however, account types common to all trading platforms that provide roughly the same benefits. In this XTB vs IG comparison, you’ll see that there are therefore many similarities in the options available on the two platforms. This is the case for:

  • The demo account. It lets you practice and test your strategies on assets that mirror the market, without putting real money at stake.
  • The Islamic account option. At both XTB and IG, it exempts you more or less from swap fees. This option allows Muslim traders to respect the Koran’s prohibition on interest in investments.
  • With both brokers, you can open a standard account. It gives you access to the basic trading options offered by each broker.
  • Professionals can also take advantage of a dedicated trading account at XTB and IG. After a few checks by the broker, you can access features reserved for professional trading, such as higher leverage for accounts opened under ESMA.
  • Another point in common: both brokers offer their clients a limited-risk account.
  • IG Markets and XTB also offer an STP account.

Trading platforms

In this XTB vs IG head-to-head, we also chose to look at the platforms the brokers offer. Clients are used to trading with high-performance software to ensure maximum responsiveness and the best built-in options. In this mini face-off, our brokers are fairly evenly matched, but with a slight edge for IG.

  • IG offers trading through the MetaTrader 4 online trading application. By opening an account with the broker, you can use one of the best-performing trading platforms on the market.
  • IG also gives clients the ProRealTime software for real-time market analysis. This platform is also among the best software packages you’ll find on the market.
  • XTB, for its part, gives clients its proprietary xStation software and mobile apps. They stand out for their ease of use and clean design. They also deserve credit for being among the most responsive when placing an order during the trading session.
  • With XTB, traders can also use the popular MetaTrader 4 platform. Even though this is not spelled out on the broker’s website, after a few inquiries you can get access to this high-performance online trading software.
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Deposits and withdrawals

Being able to deposit and withdraw money from your trading account is one of the most important criteria for clients. The simpler and faster the transactions, the easier it is to deposit money quickly to place a trade. That’s why brokers offer several methods to make it easier to move money in and out of their accounts. This XTB vs IG head-to-head shows that the brokers offer roughly the same advantages.

  • With both brokers, you can make deposits using the most popular payment methods, such as Visa and Mastercard cards and bank transfers.
  • IG offers only 3 currencies for its trading account, which is fairly few as a rule — even more so when you compare it with the 4 currencies available at XTB.
  • XTB has chosen to set the minimum deposit on its platform at €50. That is fairly average compared with what competitors offer, and still much less than IG’s.
  • IG has, for now, opted for €300 as the minimum deposit to fund your trading account.

XTB vs IG: fees

Fees have a considerable impact on traders’ investments and potential returns. That makes them one of the most important factors when choosing a broker to trade the financial markets with. Applied to this XTB vs IG head-to-head, it’s clear that both brokers are trying to stand out from what the competition offers.

So let’s see what each of our brokers charges when you trade on their platforms:

XTB fees

  • Opening and maintaining an account costs nothing.
  • The same goes for withdrawals.
  • Some deposit methods, such as PayPal and card payments, may incur fees.
  • The broker charges conversion fees where applicable.
  • It also charges an inactivity fee of €10 per month if the trading account has been inactive for 12 months.
  • The broker earns its money mainly through spreads. These vary depending on the account type and the market chosen. On a Basic account, the spread is fixed and starts from 1.6 pips. It is variable on a Standard account and starts from 0.9 pips. On a Pro account, the minimum is 0 pips.
  • XTB charges commissions on stock and ETF CFDs.

IG fees

  • IG earns its money mainly through spreads and account management fees;
  • Opening a trading account with the broker is also free of any charge;
  • At IG Markets, you will pay an inactivity fee of €14 after 2 years or more without any investment made from your account;
  • Fees on your deposits and withdrawals depend on the payment methods you use. These are usually small amounts ranging from €0 to €20, very often depending on the amounts involved.
  • Forex spreads start from 0.6 pips on EUR/USD.
  • IG’s commissions are 0.010%, 2 cents per share and 0.05% for UK, US and euro-area stocks respectively.

Trading tools

Trading tools are increasingly essential for traders. They give you a considerable edge in your analysis before you invest.

  • With its platforms, XTB provides access to many tools, including trading signals, market analysis, news, full-featured charts, alerts, technical indicators, an economic calendar and sentiment indicators.
  • IG offers one of the best ranges of trading tools on the market. The broker’s trading platforms are an advantage in this head-to-head, as they give you access to high-quality analysis charts and trend indicators. You also get the best settings for following the news with the economic calendar and market moves with no lag.

Education

Having educational content on strategies and the basics is an excellent way to improve your chances of making money on your trades. This applies to traders of all profiles and levels. That’s why we wanted to compare XTB’s and IG’s offerings.

  • XTB Academy is the program set up to educate traders. Courses are organized by topic so users can find their way around easily. They are also grouped by level: beginner, intermediate and expert. Users also have access to premium content. In addition, XTB offers a free, no-commitment demo account. The courses have been organized so that users can easily find what they need. Some are aimed at beginner traders, others at more experienced or intermediate traders.
  • IG has a tool called IG Academy to help users improve their trading knowledge. In addition, you can attend a number of seminars run by the broker to train traders in new investment techniques.

Customer service

Whether you need technical support with a problem or simply some information to point you in the right direction, a responsive customer service team is essential. A broker worthy of the name must be able to assure its clients that they can reach an advisor whenever they need to. That’s why we’re going to examine how our two brokers, XTB and IG, perform on this part of their offering.

  • The two brokers use almost the same channels for clients to contact them.
  • At both XTB and IG, you can get support in French and in several other languages of your choice. The brokers have made it a point of honor to try to satisfy their clients spread all over the world.
  • XTB and IG also offer FAQs that answer clients’ most common questions. You can easily find general information there on the main features of their respective services.
  • Both brokers have chosen to offer customer service available 24 hours a day, 5 days a week.

XTB pros and cons

Let’s start with XTB, whose advantages include the following:

  • The Polish broker has more competitive trading fees than IG. This is particularly visible on forex spreads, which can be either fixed or variable and go down close to 0 pips. That’s already impressive for a market maker.
  • An excellent online trading platform. Available on mobile and desktop, xStation 5 is both comprehensive in its settings and fast in its execution. It can easily be ranked among the best software currently available.
  • Educational content. XTB is quite committed to teaching less experienced traders and beginners how to approach the financial markets. If that’s you, you can learn the basics of trading there along with some practical tips for your investments.
  • Several asset classes are available at XTB. With this broker, you can choose from most of the most heavily traded financial markets of the moment.

XTB’s drawbacks include the fact that:

  • Spreads on some stock CFDs are fairly high compared with the cost of other asset classes.
  • Some educational content is only available for a fee.

IG pros and cons

IG, for its part, has quite a few advantages. To begin with:

  • The broker offers one of the widest varieties of financial assets of any broker. In all, 17,000 instruments are available when you open a client account with the online broker. That is also far more than the 5,200 offered by XTB.
  • The availability of high-performance trading software such as MetaTrader 4 and ProRealTime is a particularly strong advantage for IG. They are available and accessible to almost all of the broker’s clients, which makes them a major asset when trading.
  • IG’s educational offering is one of the best you’ll come across. Between articles, videos and courses, IG allows all traders to gain new knowledge about how the financial markets work. You can also learn most of the strategies professional investors use for your own trades.
  • Substantial leverage. IG lets you benefit from 1:200 on a professional account under ESMA.

Trading with IG also has a few drawbacks, such as:

  • Slow customer service once you contact it. In the event of a dispute or a problem on the broker’s platform, it will be hard to get responsive support when trading with IG Markets.

XTB vs IG: how do these brokers compare with Vantage?

Vantage is considered by traders and specialists to be the best forex and CFD broker. It would therefore be worth analyzing some of the strengths of the two brokers in our head-to-head against Vantage, in order to see how they measure up against the best trading offers before giving our final verdict.

Final verdict: XTB or IG, which is the better broker?

At the end of this comparison between two of the best forex and CFD brokers, it emerges that their trading approaches are fairly similar on several points. As we’ve seen throughout this article, XTB and IG both stay very close to what a broker of their caliber should offer its clients. Their respective advantages can, however, tip the balance, as each will suit certain trader profiles:

  • XTB has a simpler interface and brokerage offers accessible to everyone. That’s why it is one of the brokers we recommend to traders of all profiles.
  • IG, for its part, is one of the brokers with the most diverse brokerage offering. As a result, it is better suited to traders with a bit more experience who are looking for a variety of financial markets to diversify their investments.

Read also: Infinox Review

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