Alison Heyerdahl
Edited by
Author
Alison Heyerdahl
Edited by
Alison Heyerdahl
Head of Content

Alison Heyerdahl is the Head of Content at FxScouts and a financial writer with extensive experience in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast to help traders make informed, safe decisions.

Learn more about Alison Heyerdahl
Author
Author
Chris Cammack
Partner Manager and Financial Writer

Chris Cammack is the Partner Manager and a financial writer at FxScouts. Chris builds and maintains our relationships with our partners to provide our users with the best Forex trading experience.

Learn more about Chris Cammack

IG vs. Interactive Brokers

In the fast-paced world of forex trading, choosing the right broker is crucial. IG and Interactive Brokers are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.

Select broker to compare

Regulations

Regulation
Australian Securities & Investment CommissionBundesanstalt fĂĽr FinanzdienstleistungsaufsichtCommodity Futures Trading AssociationDubai Financial Services Authority
Financial Conduct AuthorityFinancial Markets Authority of New ZealandFinancial Services AgencyFinansinspektionenFinancial Sector Conduct AuthorityMonetary Authority of SingaporeSwiss Financial Market Supervisory Authority
Australian Securities & Investment CommissionCommodity Futures Trading AssociationFinancial Conduct AuthorityCanadian Investment Regulatory Organization
Monetary Authority of SingaporeSecurities and Futures Commission
Trading Desk Type
Market Maker
ECN/DMA
Trading Instruments
Bonds, Commodities, Cryptocurrencies, Digital 100s, Stock CFDs, ETFs, Forex, Indices, Interest Rates
Bonds, Cryptocurrencies, Stock CFDs, ETFs, Forex, Futures, Indices, Shares

Conditions

Forex Pairs
80
115
Crypto Pairs
10
4
Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Excellent education
  • Excellent market analysis
  • Well regulated
  • Low minimum deposit
  • Tight spreads
  • Wide range of assets
Cons
  • High minimum deposit
  • Well regulated
  • Low minimum deposit
  • Tight spreads
  • Wide range of assets
% Lose with this broker
69%
0
Leverage
30:1
50:1
Spread
0.60 pips
0.10 pips
Hedging
Yes
Yes
Scalping
Yes
Yes
Account Types
DMA, Live Account, Spread Betting
IBKR lite, IBKR pro
Islamic Account
Yes
No
Trading Platforms
MT4, L2 Dealer, TradingView
Clientportal, IBKRmobile, Trader Workstation
Funding Methods
Bank Transfer, Mastercard, Paypal, Visa
ACH, Bank Transfer, BPay
Trading Commissions
Fees Included in Spread
4.4 USD / lot
Min. Deposit
USD 0
USD 1
Trading Cost
USD 6
USD 5.40
Visit site
IG
Interactive Brokers
Trust Rating
5
5
Trading Conditions
4.5
5
Trading Platforms
4.5
4
Deposit & Withdrawal
5
1
Assets Available
5
5
Education & Research
5
5
Customer Service
4
4
Beginner Friendly
4
4
Analysis Research
5
5
Overall Rating
4.69
/ 5
4.31
/ 5

How Do IG and Interactive Brokers Compare?

The radar chart above illustrates the comparison between IG and Interactive Brokers across several key metrics, with the highest possible score being 100 in each category.

Helping You Choose the Right Broker

At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated IG and Interactive Brokers, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.

Trust and Regulation

Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses.  We also consider numerous factors when deciding which tier a regulator belongs to. Regulators that we rank as the world’s top regulators, gets a tier 1 rank, while regulators who only scores a tier 5-rank, provide virtually no regulatory oversight. The more top-tier authorities regulating a broker, the higher its trust rating. Read more about regulation and our tier system here.

In our comparison:

  • IG holds seven Tier 1 and three Tier 2 licences.
  • Interactive Brokers holds six Tier 1 and no Tier 2 licences.

Based on these findings, IG earned a higher trust rating than Interactive Brokers.

Is IG financially regulated?

Yes IG was founded in 1974 and is regulated by ASIC, BaFin, CFTC, DFSA, FCA, FMA, FSA-Japan, Fi, FSCA, MAS and FINMA.

Is Interactive Brokers financially regulated?

Yes Interactive Brokers was founded in 1977 and is regulated by ASIC, CFTC, FCA, CIRO, MAS and SFC.

Trading Costs Comparison

When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.

We found that Interactive Brokers has overall lower trading costs than IG.

Top Overall Brokers by Broker Score

Trading Platforms Offered

Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.

  • IG supports MT4, L2 Dealer and TradingView
  • Interactive Brokers supports Clientportal, IBKRmobile and Trader Workstation

Copy Trading Availability

Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both IG and Interactive Brokers offer copy trading.

Range of Trading Instruments

A broader range of CFD instruments provides more trading opportunities. Interactive Brokers offers a greater variety of instruments compared to IG:

  • Interactive Brokers: 115 Forex pairs.
  • IG: 80 Forex pairs.

Cryptocurrency Trading

For those interested in trading cryptocurrencies, IG offers 10 cryptocurrencies, while Interactive Brokers offers 4 cryptocurrencies. Therefore, IG is the better choice for cryptocurrency trading.

Deposit and Withdrawal Processes

Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that Interactive Brokers charges a withdrawal fee and IG does not. Overall, IG has better deposit and withdrawal processes than Interactive Brokers. 

Educational Support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

IG and Interactive Brokers both have very good educational support. Both IG and Interactive Brokers offer educational support for more experienced traders.

Market Analysis Materials

Access to frequent and high-quality market research and analysis is crucial.

We found that IG offers better research analysis than Interactive Brokers and that both IG and Interactive Brokers offer frequent webinars.

Overall Verdict

  • IG:

    Founded in London in 1974, IG is a global leader in online trading, known for its competitive pricing, powerful platforms, and access to over 17,000 markets. While IG holds licences from top-tier regulators, Filipino traders are onboarded through IG International Limited, regulated by the Bermuda Monetary Authority (BMA).

    Trading under the Bermuda entity gives Filipino clients access to IG’s full global product range, including forex, indices, shares, commodities, ETFs, and bonds—often with higher leverage limits than are available under stricter regulatory jurisdictions. All instruments are accessible through IG’s award-winning proprietary platforms, MetaTrader 4, L2 Dealer for direct market access, and TradingView integration.

    IG offers a single multi-asset account with no minimum deposit requirement and spreads starting from 0.6 pips on EUR/USD. Traders also benefit from advanced tools such as ProRealTime charting, Autochartist, and integrated Reuters news, alongside a comprehensive library of educational resources and market analysis. However, Filipino traders should be aware that offshore regulation provides few investor protections.

  • Interactive Brokers:

    Founded in 1977 and listed on the NASDAQ, Interactive Brokers is one of the best-regulated brokers in the industry. Ideal for sophisticated, active traders, Interactive Brokers is in a league of its own with the astounding number of assets on its books and its feature-rich platforms. However, its website, complicated account structure, and unusual trading rules may leave less experienced Filipino traders reeling. 

    Interactive Brokers’ world-class research, trading tools, and education will leave traders of all experience levels satisfied, and consistent with its excellent reputation, Interactive Brokers’ trading costs are some of the lowest in the industry. Spreads start at 0.1 pips (EUR/USD) in exchange for a round turn commission of 4.4 USD.

    However, because Filipino traders will be trading under the Interactive Brokers’ subsidiary based in Connecticut, USA, they will only be able to open a margin day trading account if they deposit more than 25,000 USD. Another complaint traders may have is that it does not offer third-party platforms like MT4 and MT5, and traders can only fund their accounts by bank transfer.

Overall Ratings

  • IG: 4.69
  • Interactive Brokers: 4.31

For more detailed reviews, please read our comprehensive assessments of IG and Interactive Brokers.

Exness
AvaTrade
B.V.I FSC, CMA
Regulators
ASIC, CBI
Unlimited:1
Leverage
400:1
MT4, MT5
Platforms
MT4, MT5
0.1 pips
Min. Spread
0.9 pips
USD 3
Min. Deposit
USD 100
Pepperstone
XM
ASIC, BaFin
Regulators
ASIC, CySEC
1000:1
Leverage
500:1
MT4, MT5
Platforms
MT4, MT5
0 pips
Min. Spread
0.6 pips
USD 0
Min. Deposit
USD 5
IC Markets
Pepperstone
ASIC, CySEC
Regulators
ASIC, BaFin
500:1
Leverage
1000:1
MT4, MT5
Platforms
MT4, MT5
0.1 pips
Min. Spread
0 pips
USD 200
Min. Deposit
USD 0
NAGA
FxPro
BaFin, CySEC
Regulators
CySEC, DFSA
1000:1
Leverage
30:1
MT4, MT5
Platforms
MT4, MT5
0.7 pips
Min. Spread
0.4 pips
USD 10
Min. Deposit
USD 100
Fusion Markets
AvaTrade
ASIC, FSA-Seychelles
Regulators
ASIC, CBI
500:1
Leverage
400:1
MT4, MT5
Platforms
MT4, MT5
0 pips
Min. Spread
0.9 pips
AUD 0
Min. Deposit
USD 100
AvaTrade
Pepperstone
ASIC, CBI
Regulators
ASIC, BaFin
400:1
Leverage
1000:1
MT4, MT5
Platforms
MT4, MT5
0.9 pips
Min. Spread
0 pips
USD 100
Min. Deposit
USD 0
XM
HFM
ASIC, CySEC
Regulators
CySEC, DFSA
500:1
Leverage
2000:1
MT4, MT5
Platforms
MT4, MT5
0.6 pips
Min. Spread
0.0 pips
USD 5
Min. Deposit
USD 0
HFM
IC Markets
CySEC, DFSA
Regulators
ASIC, CySEC
2000:1
Leverage
500:1
MT4, MT5
Platforms
MT4, MT5
0.0 pips
Min. Spread
0.1 pips
USD 0
Min. Deposit
USD 200
FBS
Pepperstone
ASIC, CySEC
Regulators
ASIC, BaFin
3000:1
Leverage
1000:1
MT4, MT5
Platforms
MT4, MT5
0.7 pips
Min. Spread
0 pips
USD 5
Min. Deposit
USD 0
Tickmill
Pepperstone
CySEC, FCA
Regulators
ASIC, BaFin
500:1
Leverage
1000:1
MT4, MT5
Platforms
MT4, MT5
0.0 pips
Min. Spread
0 pips
USD 100
Min. Deposit
USD 0
Unbiased Expertise

Independent, in-depth reviews and comparisons of all well-regulated Forex brokers, empowering you to make informed choices.

Educational Resources

Comprehensive guides for all levels, from the basics of Forex to advanced strategies tailored for your experience.

Transparent Information

A focus on facts, accuracy, and up-to-date data to give you the insights you need to succeed in your Forex journey.

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Best Brokers Uganda 2025

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Countries Regulated
Minimum Spread EUR/USD
Minimum Deposit
Trading cost/lot EURUSD
Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission.
Broker Score
Broker Website
Select and Compare
British Virgin Islands Financial Services CommissionCapital Markets AuthorityFinancial Services CommissionFSCA Regulated Forex Brokers
The Seychelles Financial Services Authority
0.10 pips
USD 3
USD 7
Visit Broker
71.67% of retail CFD accounts lose money
ASIC Regulated Forex BrokersBundesanstalt fĂĽr FinanzdienstleistungsaufsichtCapital Markets AuthorityCySEC Regulated Brokers
FCA Regulated Brokers
0 pips
USD 0
USD 10
Visit Broker
75.3% of retail CFD accounts lose money
ASIC Regulated Forex BrokersCySEC Regulated BrokersSecurities Commission of the BahamasThe Seychelles Financial Services Authority
0.10 pips
USD 200
USD 8
Visit Broker
70.81% of retail CFD accounts lose money
Bundesanstalt fĂĽr FinanzdienstleistungsaufsichtCySEC Regulated Brokers
0.70 pips
USD 10
USD 17
Visit Broker
77.41% of retail CFD accounts lose money
ASIC Regulated Forex BrokersThe Seychelles Financial Services AuthorityVanuatu
0 pips
AUD 0
USD 4.50
Visit Broker
89% of retail CFD accounts lose money
ASIC Regulated Forex BrokersCentral Bank of IrelandCySEC Regulated BrokersFinancial Regulatory Services Authority
FSCA Regulated Forex Brokers
0.90 pips
USD 100
USD 9
Visit Broker
76% of retail CFD accounts lose money
ASIC Regulated Forex BrokersCySEC Regulated BrokersInternational Financial Services Commission
0.60 pips
USD 5
USD 6
Visit Broker
75.18% of retail CFD accounts lose money
CySEC Regulated BrokersDubai Financial Services AuthorityFCA Regulated BrokersFinancial Services Commission
FSCA Regulated Forex BrokersThe Seychelles Financial Services Authority
0 pips
USD 0
USD 10
Visit Broker
72.90% of retail CFD accounts lose money
ASIC Regulated Forex BrokersCySEC Regulated BrokersFSCA Regulated Forex BrokersInternational Financial Services Commission
0.70 pips
USD 5
USD 7
Visit Broker
69.21% of retail CFD accounts lose money
CySEC Regulated BrokersFCA Regulated BrokersFSCA Regulated Forex BrokersLabuan Financial Services Authority
The Seychelles Financial Services Authority
0 pips
USD 100
USD 6
Visit Broker
74% of retail CFD accounts lose money
Exness
4.3
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Countries Regulated
regulatorregulatorregulatorregulator
regulator
Minimum Spread EUR/USD
0.1 pips
Minimum Deposit
USD 3
Trading cost/lot EURUSD
Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission.
USD 7
Pepperstone
4.6
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Countries Regulated
regulatorregulatorregulatorregulator
regulator
Minimum Spread EUR/USD
0 pips
Minimum Deposit
USD 0
Trading cost/lot EURUSD
Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission.
USD 10
IC Markets
4.5
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Countries Regulated
regulatorregulatorregulatorregulator
Minimum Spread EUR/USD
0.1 pips
Minimum Deposit
USD 200
Trading cost/lot EURUSD
Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission.
USD 8
NAGA
4.1
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Countries Regulated
regulatorregulator
Minimum Spread EUR/USD
0.7 pips
Minimum Deposit
USD 10
Trading cost/lot EURUSD
Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission.
USD 17
Fusion Markets
4.4
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Countries Regulated
regulatorregulatorregulator
Minimum Spread EUR/USD
0 pips
Minimum Deposit
AUD 0
Trading cost/lot EURUSD
Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission.
USD 4
AvaTrade
4.6
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Countries Regulated
regulatorregulatorregulatorregulator
regulator
Minimum Spread EUR/USD
0.9 pips
Minimum Deposit
USD 100
Trading cost/lot EURUSD
Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission.
USD 9
XM
4.5
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Countries Regulated
regulatorregulatorregulator
Minimum Spread EUR/USD
0.6 pips
Minimum Deposit
USD 5
Trading cost/lot EURUSD
Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission.
USD 6
HFM
4.4
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Countries Regulated
regulatorregulatorregulatorregulator
regulatorregulator
Minimum Spread EUR/USD
0.0 pips
Minimum Deposit
USD 0
Trading cost/lot EURUSD
Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission.
USD 10
FBS
4.3
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Countries Regulated
regulatorregulatorregulatorregulator
Minimum Spread EUR/USD
0.7 pips
Minimum Deposit
USD 5
Trading cost/lot EURUSD
Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission.
USD 7
Tickmill
4.6
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Countries Regulated
regulatorregulatorregulatorregulator
regulator
Minimum Spread EUR/USD
0.0 pips
Minimum Deposit
USD 100
Trading cost/lot EURUSD
Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission.
USD 6
Click here

Let's Talk Forex with Alison & Chris


Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.

The FxScouts podcast helps beginner Forex traders get the best start to their trading careers.