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IG vs FXPrimus 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between IG and FXPrimus? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, IG ranks more highly than FXPrimus.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall RatingIGFXPrimusFOREX.com
Overall Rating9.7 / 106.8 / 108.7 / 10
Account TypeIGFXPrimusFOREX.com
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountNoYesYes
Copy TradingIGFXPrimusFOREX.com
Social Trading / Copy TradingYesYesNo
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyIGFXPrimusFOREX.com
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)IGFXPrimusFOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)IGFXPrimusFOREX.com
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsIGFXPrimusFOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingYesNoNo
Social Trading / Copy TradingYesYesNo
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsYesNoYes
ETFYesNoYes
U.S. Stocks (CFD)YesNoYes
Trading PlatformsIGFXPrimusFOREX.com
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesNoYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)NoYesYes
Regulatory LicensesIGFXPrimusFOREX.com
Tier-1 Licenses704
ASIC Authorised (Australia)YesNoNo
IIROC Authorised (Canada)NoNoYes
FCA Authorised (U.K.)YesNoYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)YesNoNo
FINMA Authorised (Switzerland)YesNoNo
CFTC Registered (USA)YesNoYes
Tier-2 Licenses212
Tier-3 Licenses111
Research, EducationIGFXPrimusFOREX.com
Trading Central (Recognia)NoNoYes
Forex News (Top-Tier Sources)YesNoYes
Daily Market CommentaryYesYesYes
AutochartistYesNoNo
Investor Dictionary (Glossary)YesNoYes
Videos - Beginner Trading VideosYesNoYes
Client Webinars (Archived)YesYesNo
Trading CostsIGFXPrimusFOREX.com
Minimum Initial Depositยฃ250.00$100$100
Average Spread EUR/USD - Standard0.86 (September 2022)N/A1.0 (July 2022)
All-in Cost EUR/USD - Active0.5957 (September 2022)N/A1.0 (July 2022)
Active Trader or VIP DiscountsYesNoYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)YesNoYes
Trading ToolsIGFXPrimusFOREX.com
Watchlists - Total Fields14720
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)3330203
Mobile Charting - Indicators / Studies333088
Trust FactorsIGFXPrimusFOREX.com
Year Founded197420091999
Publicly Traded (Listed)YesNoYes
BankYesNoNo
Authorised in European UnionYesYesYes
Trust Score996999
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IG vs FXPrimus Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare IG vs FXPrimus.

Can I trust IG?

IG has a trust score of 99, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are โ€“ in most cases โ€“ operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a โ€œDo Not Trustโ€ rating.

Can I trust FXPrimus?

FXPrimus has a trust score of 69, giving it a "High Risk" trust label.

Is IG a good broker?

We consider IG to be the best overall broker in the industry, due to its excellent pricing, oustanding educational materials, comprehensive research, vast range of markets, and its powerful trading platform suite. IG also continues to acquire more regulatory licenses, bolstering its status as a trustworthy broker..

Is FXPrimus a good broker?

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. IG is ASIC Authorised (Australia), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland), FCA Authorised (U.K.) and CFTC Registered (USA), while FXPrimus is none., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong) and CBI Authorised (Ireland)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, IG is FSCA Authorised (South Africa) and DFSA / Central Bank Authorised (UAE), while FXPrimus is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia) and SEC Authorised (Thailand). When comparing tier-3 licenses IG is BMA Authorised (Bermuda), while FXPrimus is VFSC Authorised (Vanuatu)., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands) and FSC Authorised (Mauritius).

Which broker offers more trading platforms?

For trading platforms IG supports a Proprietary Platform and Desktop Platform (Windows), whereas FXPrimus supports a Desktop Platform (Windows) and cTrader., neither have DupliTrade and ZuluTrade

Does IG offer MetaTrader? Does FXPrimus offer MetaTrader?

For MetaTrader IG provides MetaTrader 4 (MT4), while FXPrimus provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do IG and FXPrimus differ in terms of minimum deposit? What about average spreads and funding options?

IG requires a minimum deposit of ยฃ250.00, while FXPrimus requires a minimum deposit of $100. From our testing we found IG offers spreads of 0.86 (September 2022), while FXPrimus offers spreads of N/A. IG supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for popular funding options, where FXPrimus supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, IG or FXPrimus?

IG offers a more diverse selection of investment options than FXPrimus allowing you to trade Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, IG has 19537, compared to 140 from FXPrimus.

Can I trade cryptocurrency with IG or FXPrimus?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither IG nor FXPrimus allow you to trade physical cryptocurrencies.

Who offers more research tools, IG or FXPrimus?

In terms of research and research tools IG gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. In comparison FXPrimus has the tools listed here: Daily Market Commentary, Stock Charts and Social Trading / Copy Trading., neither have Trading Central (Recognia)

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