Spreadex vs IG (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
Spreadex and IG quote identical minimum spreads on the major forex pairs (EUR/USD from 0.6 and GBP/USD from 0.9), so the decision comes down to running costs and tools. Spreadex suits UK spread bettors who hold positions overnight or trade occasionally: it publishes a 1.5% annualised funding charge, has no inactivity fee and reports the lowest retail loss rate of the two (61% against IG's 70%). IG suits traders who want platform choice, with seven options including MT4, MT5, ProRealTime and TradingView, plus direct market access, a London Stock Exchange listing and the broader IG Academy education programme.
Best for cost-sensitive traders: Spreadex — Spreads on the majors are identical, so Spreadex's 1.5% annualised funding charge and lack of any inactivity fee give it the edge on running costs for traders who hold positions or trade occasionally.
Best for beginners: IG — IG Academy's structured courses, a free demo account and the option to move up to MetaTrader or ProRealTime later give new traders more room to learn and grow.
Best overall: IG — IG's seven platforms, direct market access and wider market range make it the more versatile choice for most traders, although Spreadex is the stronger value pick for spread bettors focused on running costs.
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Spreadex and IG are two of the few FCA-regulated brokers that put spread betting at the centre of their UK offer. IG has served UK traders since 1974 and is listed on the London Stock Exchange; Spreadex has operated from St Albans since 1999 and is privately held. Both offer spread bets and CFDs, both quote EUR/USD from 0.6 pips, and both offer guaranteed stops. Whether you are comparing Spreadex with IG or IG with Spreadex, this guide sets out where they differ: overnight funding, inactivity fees, platforms, deposits and withdrawals, and regulation.
New to comparing? Start here: how to compare forex brokers.
Spreadex vs IG: At a Glance
| Feature | Spreadex | IG |
|---|---|---|
| FCA Regulation | Yes (FRN 190941) | Yes (IG Markets FRN 195355; IG Index FRN 114059) |
| Spread Betting Available | Yes | Yes |
| EUR/USD Spread | From 0.6 pips | From 0.6 pips |
| GBP/USD Spread | From 0.9 pips | From 0.9 pips |
| FX Commission | None | None (standard account) |
| Overnight Funding Charge | 1.5% annualised plus tom-next rate | IG markup on the relevant interbank rate |
| Inactivity Fee | None | None |
| Minimum Deposit | £5 | £0 (bank transfer) |
| Platforms Offered | Spreadex platform, TradingView | IG Platform, IG app, MT4, MT5, ProRealTime, L2 Dealer, TradingView |
| Guaranteed Stops | Yes | Yes (premium charged if triggered) |
| Forex Pairs | 60+ | 80+ |
| Retail Loss Rate | 61% | 70% |
| Best For | Spread bettors who hold positions overnight or trade occasionally | Traders who want platform choice, MetaTrader or direct market access |
Spreads and Fees
Typical spreads by pair
On the major forex pairs the two brokers quote the same minimum spreads: EUR/USD from 0.6 pips, GBP/USD from 0.9 pips, USD/JPY from 0.7 pips and AUD/USD from 0.6 pips. Neither charges a separate commission on forex. These are minimum figures; both brokers' spreads are variable and can widen in volatile conditions, outside main trading hours and for larger trade sizes.
Commission and account fees
Overnight funding is where the costs separate. Spreadex publishes its formula: the tom-next rate plus a 1.5% annualised charge, applied at 10pm UK time. IG applies its own markup to the relevant interbank rate. For traders who hold positions for days or weeks, a lower annualised charge can matter more than the spread.
Overnight financing and inactivity costs
Neither Spreadex nor IG charges an inactivity fee. Spreadex's minimum deposit is £5 and its minimum withdrawal is £5; IG has no minimum deposit by bank transfer. Neither broker charges for standard deposits or withdrawals.
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 | Spreadex | IG |
|---|---|---|
| EUR/USD min spread | 0.6 pips | 0.6 pips |
| GBP/USD min spread | 0.9 pips | 0.9 pips |
| USD/JPY min spread | 0.7 pips | 0.7 pips |
| AUD/USD min spread | 0.6 pips | 0.6 pips |
| FX commission | None | None (standard account) |
| Overnight funding | Tom-next rate plus 1.5% annualised | Interbank rate plus IG markup |
| Minimum deposit | £5 | £0 (bank transfer) |
| Inactivity fee | None | None |
| Deposit and withdrawal fees | None on standard methods | None on standard methods |
Platforms
Spreadex's platform lineup
Spreadex runs a two-platform set-up: its own web and mobile platform, and TradingView. Both support stop losses, limits, trailing stops, guaranteed stops and free price alerts. Spreadex does not offer MT4, MT5 or cTrader, so traders who use Expert Advisors cannot run them at Spreadex.
IG's platform lineup
IG offers one of the widest platform line-ups of any UK broker: its proprietary web platform and mobile app, MT4 and MT5 for automated trading, ProRealTime for advanced charting and backtesting, TradingView, and L2 Dealer for direct market access.
If you trade from charts and are happy with a proprietary platform or TradingView, Spreadex covers the essentials. If you need MetaTrader, ProRealTime or direct market access, IG is the only one of the two that offers them.
| Feature | Spreadex | IG |
|---|---|---|
| Proprietary platform | Yes (Spreadex platform) | Yes (IG Platform) |
| MT4 | No | Yes |
| MT5 | No | Yes |
| cTrader | No | No |
| TradingView integration | Yes | Yes |
| ProRealTime | No | Yes |
| Direct market access | No | Yes (L2 Dealer) |
| Guaranteed stops | Yes | Yes (premium if triggered) |
| Mobile app | Yes | Yes |
| Structured education hub | Education Hub and video training | Yes (IG Academy) |
| Stock exchange listed | No (privately held) | Yes (London Stock Exchange) |
Markets and Instruments
Spreadex offers 60+ forex pairs alongside indices, shares, commodities and bonds, with more than 10,000 financial markets in total. Spread bets and CFDs are available from a single account. Spreadex also runs a separate sports spread betting business, which is distinct from its FCA-regulated financial trading service.
IG offers 80+ forex pairs as part of more than 15,000 markets across indices, shares, commodities, bonds and options. UK clients can trade through spread bets or CFDs, with separate share dealing and investment accounts also available.
FCA Regulation and Safety
Regulatory status and client protections
Both brokers are authorised and regulated by the Financial Conduct Authority. Spreadex Ltd operates under FRN 190941 and holds client money in segregated accounts at Barclays. IG operates through IG Markets Ltd (FRN 195355) for CFDs and IG Index Ltd (FRN 114059) for spread betting, with client money also held in segregated accounts. Both apply the FCA's retail leverage limits, up to 1:30 on major currency pairs, 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 publishes audited group accounts. Spreadex is privately held and has operated since 1999. Retail loss rates differ: 61% of retail investor accounts lose money when trading spread bets and CFDs with Spreadex, and 70% with IG. Both figures are updated quarterly.
Verify each broker's authorisation on the FCA Register: Spreadex on the FCA Register and IG 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 Spreadex?
- UK spread bettors who hold positions overnight and want a published 1.5% annualised funding charge
- Occasional traders who want no inactivity fee at all
- Traders who want quick withdrawals: Spreadex reports that 96.2% of withdrawals were processed in under 30 minutes in 2025
- Chart-led traders who are happy with a proprietary platform or TradingView
- Traders starting small, with a £5 minimum deposit
Ready to open an account? Visit Spreadex.
61% of retail investor accounts lose money when trading spread bets and CFDs with this provider. *Tax laws are subject to change and depend on individual circumstances. Tax law may differ in a jurisdiction other than the UK.
Who Should Choose IG?
- Traders who want a choice of platforms, including MT4, MT5, ProRealTime and TradingView
- Experienced traders who want direct market access through L2 Dealer
- Traders who value a London Stock Exchange listed broker operating since 1974
- Beginners who want structured education through IG Academy
- Traders who want a wider range of markets, with 80+ forex pairs and more than 15,000 markets in total
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.
Final Verdict
Spreadex and IG are evenly matched on headline forex spreads, so the right choice depends on how you trade. Spreadex is the cost-focused option for UK spread bettors: a published 1.5% annualised funding charge, no inactivity fee, a £5 minimum deposit, fast withdrawals and the lower retail loss rate of the two. IG is the more versatile broker, with seven platforms including MetaTrader and ProRealTime, direct market access, a wider range of markets and the reassurance of a London Stock Exchange listing. If you hold positions overnight and are happy with a proprietary platform or TradingView, Spreadex is worth a close look; if you want platform choice or automated trading, IG is the better fit.
Read our full individual reviews for more detail: View Spreadex Review and View IG Review. You can also compare both brokers against the wider market on our best forex brokers UK page.
Frequently Asked Questions
Is Spreadex or IG cheaper for spread betting?
On the major forex pairs the minimum spreads are identical: EUR/USD from 0.6 pips and GBP/USD from 0.9 pips at both brokers, with no separate commission. The difference is in holding and account costs. Spreadex charges the tom-next rate plus a 1.5% annualised funding charge on positions held overnight and has no inactivity fee. IG applies its own markup to the interbank rate and also charges no inactivity fee. Traders who hold positions overnight are likely to find Spreadex cheaper overall, depending on how they trade.
Can I use MetaTrader with Spreadex or IG?
Only with IG. IG supports MT4 and MT5, as well as ProRealTime, TradingView, L2 Dealer and its own platform and app. Spreadex offers its own platform and TradingView, but not MT4, MT5 or cTrader, so traders who rely on Expert Advisors will need IG.
Is Spreadex safe and regulated in the UK?
Yes. Spreadex Ltd is authorised and regulated by the FCA (FRN 190941), has operated from St Albans since 1999, and holds client money in segregated accounts at Barclays. Eligible clients are covered by the FSCS up to £85,000. Regulation does not remove trading risk: 61% of retail investor accounts lose money when trading spread bets and CFDs with Spreadex.
Is IG a safe broker?
IG is one of the UK's longest-established brokers, operating since 1974 and listed on the London Stock Exchange. It is regulated by the FCA through IG Markets Ltd (FRN 195355) for CFDs and IG Index Ltd (FRN 114059) for spread betting, client money is held in segregated accounts, and eligible clients are covered by the FSCS up to £85,000. 70% of retail investor accounts lose money when trading spread bets and CFDs with IG.
How long do Spreadex withdrawals take?
Spreadex reports that 96.2% of withdrawals were processed in under 30 minutes in 2025. Easy Bank Transfer and Apple Pay or Google Pay withdrawals are typically instant, card withdrawals usually arrive within two hours (some card issuers take two to five working days), and bank transfers requested before 4pm usually arrive the next working day. The minimum withdrawal is £5.
Do Spreadex and IG both offer guaranteed stops?
Yes, both offer guaranteed stops, which close a position at your chosen level even if the market gaps. IG charges a premium only if the guaranteed stop is triggered. Spreadex offers guaranteed stops but does not set out their pricing in detail in its published materials, so check the cost in the platform before placing one.
Which is better for beginners, Spreadex or IG?
IG has the more structured beginner offer, with IG Academy courses, a free demo account and plenty of platform choice to grow into. Spreadex has an Education Hub, video training and daily market analysis, a £5 minimum deposit and no inactivity fee, but its content is aimed more at intermediate and active traders. Beginners who want guided learning may prefer IG.
Risk Warning: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investor accounts lose money when trading spread bets and CFDs with Spreadex. 70% of retail investor accounts lose money when trading spread bets and CFDs with IG. 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.