IG vs FOREX.com (UK)
Reviewed by Phillip Ashdown, Senior Forex Analyst · Last updated · How we review
This comparison is for informational purposes only and does not constitute investment advice. Affiliate links may be present.
Quick Verdict
IG is the stronger all-round choice for most UK forex traders. It offers spread betting as well as CFDs, a slightly tighter headline EUR/USD spread (from 0.6 pips against FOREX.com's 0.7), seven platform options including MT5, ProRealTime and L2 Dealer, and no inactivity fee, against FOREX.com's £12 a month after 12 months. FOREX.com suits CFD traders who are happy with MT4 or TradingView and want a straightforward account from a NASDAQ-listed group. The biggest differences are spread betting and platform choice: IG offers both in depth, while FOREX.com offers CFDs only on a narrower platform line-up.
Best for cost-sensitive traders: IG — IG's slightly tighter headline EUR/USD spread, the absence of an inactivity fee and the option of spread betting, which can remove Capital Gains Tax on profits, make it the lower-cost choice for most UK traders.
Best for beginners: IG — IG publishes a £0 minimum deposit, offers extensive education through IG Academy and gives beginners room to grow into more platforms; FOREX.com does not publish a minimum deposit.
Best overall: IG — Spread betting, seven platform options including MT5 and ProRealTime, and direct market access make IG the more versatile choice for most UK traders.
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IG and FOREX.com are both FCA-regulated brokers with long histories in retail forex, but they offer UK traders quite different products. IG has operated since 1974 and offers spread betting and CFDs across seven platforms, including MetaTrader 4 and 5, ProRealTime and L2 Dealer for direct market access. FOREX.com is the CFD trading brand of StoneX Financial Ltd, part of NASDAQ-listed StoneX Group, and offers 80+ forex pairs through its own Web Trader, MT4 and TradingView. Whether you are comparing IG with FOREX.com or FOREX.com with IG, this guide sets out the key differences in costs, platforms, products, deposits and regulation so you can decide which suits the way you trade.
New to comparing? Start here: how to compare forex brokers.
IG vs FOREX.com: At a Glance
| Feature | IG | FOREX.com |
|---|---|---|
| FCA Regulation | Yes (IG Markets FRN 195355; IG Index FRN 114059) | Yes (StoneX Financial Ltd, FRN 446717) |
| Minimum Deposit | £0 | Not published |
| EUR/USD Spread | From 0.6 pips | From 0.7 pips |
| FX Commission | None (standard account) | None (shares carry commission) |
| Spread Betting Available | Yes | No (CFDs only) |
| Platforms Offered | IG Platform, IG app, MT4, MT5, ProRealTime, L2 Dealer, TradingView | Web Trader, mobile app, MT4, TradingView |
| MT5 Available | Yes | No |
| Guaranteed Stops | Yes (premium charged if triggered) | Yes (premium charged if triggered) |
| Inactivity Fee | None | £12/month after 12 months |
| Forex Pairs | 80+ | 80+ |
| Public Listing | Yes (London Stock Exchange) | Parent StoneX Group (NASDAQ) |
| Best For | Spread bettors and traders who want platform choice | CFD traders who are happy with MT4 or TradingView |
Spreads and Fees
Typical spreads by pair
IG prices forex on a spread-only basis on its standard account, with EUR/USD from 0.6 pips, GBP/USD from 0.9 pips and USD/JPY from 0.7 pips. There is no separate commission on forex. FOREX.com quotes EUR/USD from 0.7 points on its Standard account, also with no separate commission on forex, indices or commodities; share CFDs carry a commission of 0.08% on UK shares (minimum £10).
Commission and account fees
IG does not charge an inactivity fee, whereas FOREX.com charges £12 per month on GBP accounts after 12 months with no trading activity or open positions. FOREX.com charges no fees on card or bank transfer deposits and no fees on standard BACS withdrawals. Profits and losses on instruments in other currencies are converted at rates up to 0.5% from quoted prices.
Overnight financing and inactivity costs
Overnight financing applies at both brokers to positions held past the daily cut-off. FOREX.com charges SONIA plus 3% on long positions and states that no rollover is charged on intraday trades. Beyond trading costs, the biggest cost difference for UK residents is tax treatment: spread betting at IG can remove Capital Gains Tax on profits, which FOREX.com's CFD-only offer cannot. Tax treatment depends on individual circumstances and can change.
For a detailed breakdown of how spreads affect trading costs, see our guide to forex spreads explained. To turn a spread into pounds on your trade size, use our pip value calculator, and to estimate what a trade would make or lose at either broker, try the forex profit calculator.
| Fee | IG | FOREX.com |
|---|---|---|
| EUR/USD min spread | 0.6 pips | 0.7 pips |
| FX commission | None | None |
| UK share CFD commission | 0.10% per side | 0.08% (minimum £10) |
| Minimum deposit | £0 | Not published |
| Inactivity fee | None | £12/month after 12 months |
| Deposit fees (card, bank) | None | None |
| Currency conversion | Varies by product | Up to 0.5% from quoted rates |
Platforms
IG's platform lineup
IG offers one of the widest platform line-ups of any UK broker. Its proprietary web platform and mobile apps cover most traders' needs, with guaranteed stops, price alerts and in-ticket dealing specifications. MT4 and MT5 support Expert Advisors for automated trading, ProRealTime adds advanced charting and backtesting, TradingView is available for chart-led traders, and L2 Dealer provides direct market access for experienced traders.
FOREX.com's platform lineup
FOREX.com offers its own Web Trader, with charts you can trade from and smart trade tickets that show pip value and margin, plus a mobile app with TradingView charts, Reuters news and its Performance Analytics tool, which reviews patterns in your own trading. MT4 is available with Expert Advisors, and FOREX.com accounts can be traded directly from TradingView. FOREX.com does not currently offer MT5, cTrader, ProRealTime or a direct market access platform to UK clients.
If MT4 or TradingView covers what you need, both brokers will work. If you want MT5, ProRealTime or direct market access, IG is the only option of the two.
| Feature | IG | FOREX.com |
|---|---|---|
| Proprietary web platform | Yes (IG Platform) | Yes (Web Trader) |
| MT4 | Yes | Yes |
| MT5 | Yes | No |
| cTrader | No | No |
| TradingView integration | Yes | Yes |
| ProRealTime | Yes | No |
| Direct market access | Yes (L2 Dealer) | No |
| Guaranteed stops | Yes (premium if triggered) | Yes (premium if triggered) |
| Mobile app | Yes | Yes |
| Spread betting | Yes | No |
Markets and Instruments
IG offers 80+ forex pairs, from majors through to Scandinavian and exotic crosses, as part of more than 15,000 markets across indices, shares, commodities, bonds and options. UK clients can trade them through spread bets or CFDs.
FOREX.com offers 80+ forex pairs within 2,000+ markets, alongside indices, shares, commodities and bullion, all as CFDs. FOREX.com does not offer spread betting in the UK, so profits are subject to Capital Gains Tax rather than being exempt as spread betting profits typically are. Tax treatment depends on individual circumstances and can change.
FCA Regulation and Safety
Regulatory status and client protections
Both brokers are authorised and regulated by the Financial Conduct Authority. IG operates through IG Markets Ltd (FRN 195355) for CFDs and IG Index Ltd (FRN 114059) for spread betting. FOREX.com is a trading name of StoneX Financial Ltd (FRN 446717, Companies House 05616586), registered at Moor House, 120 London Wall. Client funds at both are held in segregated accounts, retail clients benefit from negative balance protection, and eligible clients are covered by the Financial Services Compensation Scheme up to £85,000 per person, per firm.
Company structure and history
IG Group is listed on the London Stock Exchange and has served UK traders since 1974. FOREX.com has operated as a brand since 2001 and its parent, StoneX Group Inc., is listed on NASDAQ. StoneX Financial Ltd also operates the StoneX Trading brand (formerly City Index) under the same FCA authorisation. Both brokers apply the FCA's retail leverage limits, up to 1:30 on major currency pairs. Retail loss rates differ: 70% of retail investor accounts lose money with IG and 74% with FOREX.com, figures each broker updates quarterly.
Verify each broker's authorisation on the FCA Register: IG on the FCA Register and FOREX.com on the FCA Register.
For more on what FCA regulation means for traders, see our guide to FCA regulation explained.
Both brokers provide FSCS protection for eligible UK retail clients up to £85,000 per person, per firm.
Who Should Choose IG?
- UK traders who want spread betting alongside CFDs
- Traders who want MT5, ProRealTime or TradingView alongside MT4
- Experienced traders who want direct market access through L2 Dealer
- Occasional traders who want to avoid inactivity fees
- Traders who want a published £0 minimum deposit
Ready to open an account? Visit IG.
70% of retail investor accounts lose money when trading CFDs or Spread Bets with this provider. You should consider whether you can afford to take the high risk of losing your money.
Who Should Choose FOREX.com?
- CFD traders who do not need spread betting
- MT4 users who want Expert Advisors with a large, established provider
- TradingView users who want to trade directly from TradingView charts
- Traders interested in Performance Analytics to review their own trading habits
- Traders who value the backing of a NASDAQ-listed group
Ready to open an account? Visit FOREX.com.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider.
Final Verdict
IG is the more versatile broker for most UK traders. Spread betting, seven platform options including MT5, ProRealTime and L2 Dealer, a slightly tighter headline EUR/USD spread and no inactivity fee give it an edge for both occasional and active traders. FOREX.com is a solid choice for CFD traders who are comfortable with MT4 or TradingView, with free deposits, no intraday rollover charge and Performance Analytics, backed by NASDAQ-listed StoneX. The dividing lines are product and platform choice: if you want to spread bet or use MT5, IG is the option of the two.
Read our full individual reviews for more detail: View IG Review and View FOREX.com Review. You can also compare both brokers against the wider market on our best forex brokers UK page.
Frequently Asked Questions
Is IG or FOREX.com cheaper for UK forex traders?
IG quotes a slightly tighter headline EUR/USD spread, from 0.6 pips against FOREX.com's 0.7 points, and neither charges a separate commission on standard forex trades. IG charges no inactivity fee, whereas FOREX.com charges £12 per month on GBP accounts after 12 months. For UK residents, IG's spread betting can also remove Capital Gains Tax on profits, which FOREX.com's CFD-only offer cannot. Tax treatment depends on individual circumstances and can change.
Does FOREX.com offer MT5 in the UK?
No. FOREX.com's UK site lists MT4, TradingView, its own Web Trader and a mobile app, but not MetaTrader 5. IG offers both MT4 and MT5, as well as ProRealTime and L2 Dealer.
Does FOREX.com offer spread betting like IG?
No. FOREX.com offers CFDs only to UK clients, while IG offers both spread betting and CFDs. Spread betting profits are typically exempt from Capital Gains Tax for UK residents, whereas CFD profits are not. Tax treatment depends on individual circumstances and can change.
What inactivity fees do IG and FOREX.com charge?
IG does not charge an inactivity fee. FOREX.com charges £12 per month on GBP accounts after 12 months with no trading activity or open positions, and placing orders that are not executed does not count as activity.
What is FOREX.com's minimum deposit?
FOREX.com does not publish a minimum deposit on its UK website, so check the current terms when you apply. IG has no minimum for bank transfers, and card deposits start from £1.
How do deposits and withdrawals work at IG and FOREX.com?
IG accepts debit cards, credit cards and bank transfers, and charges no withdrawal fees; card withdrawals requested before 8pm on a weekday are processed the same day and can take up to five working days to arrive, and the minimum withdrawal is £100 unless your balance is lower. FOREX.com charges no fees on card or bank transfer deposits and no fees on standard withdrawals to card or by BACS, while same-day CHAPS withdrawals under €5,700 cost €25. Your own bank may charge separately at either broker.
Is FOREX.com legitimate and safe?
Yes, FOREX.com is a regulated UK broker, and both brokers in this comparison are FCA regulated. FOREX.com is a trading name of StoneX Financial Ltd (FRN 446717), part of NASDAQ-listed StoneX Group, which also operates the StoneX Trading brand, formerly City Index. IG operates through IG Markets Ltd (FRN 195355) for CFDs and IG Index Ltd (FRN 114059) for spread betting. Both hold client money in segregated accounts, provide negative balance protection for retail clients and are covered by the FSCS up to £85,000 per eligible person, per firm. Regulation does not remove trading risk: 74% of retail investor accounts lose money when trading CFDs with FOREX.com, and 70% with IG.
Risk Warning: Spread bets and 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 spread bets and CFDs with IG. 74% of retail investor accounts lose money when trading CFDs with FOREX.com. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
Full Risk Disclosures
IG: Spread bets and 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 spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.