image IG VISIT IG image Ingot Brokers VISIT INGOT BROKERS image City Index VISIT CITY INDEX
About

IG is regulated by the Financial Conduct Authority and ASIC. IG have provided forex, spread betting, CFD, and stock trading services since 1974.

Ingot Brokers is regulated by ASIC. Ingot Brokers have provided Forex, Spread betting, CFD trading services since 2004.

City Index is regulated by the Financial Conduct Authority. City Index have provided Forex trading services since 1983.

Why choose them?
  • Yes Over 44 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
  • Yes Over 14 years in business
  • Yes Segregates clients funds
  • Yes Regulated by ASIC
  • Yes Over 35 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, ASIC and MAS
Headquarters London, UK Sydney, Australia London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting Yes No Yes
Social Trading No No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 90 34 84
Commodities Offered 34 0 26
Stocks Offered 8000 200 4500
Bitcoin Yes Yes Yes
Majors Yes Yes Yes
Indices Yes No Yes
US Stocks Yes Yes Yes
Penny stocks No Yes Yes
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes Yes Yes
FTSE Yes No Yes
Dow Jones Yes No Yes
Dax Yes No Yes
Nikkei Yes No Yes
ETFs Yes No Yes
IPO Yes No No
See all instruments

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

See all instruments

Losses can exceed deposits

See all instruments

70% of retail investor accounts lose money when trading CFDs with this provider

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No No No
MT4 Mac Yes No No
WebTrader Yes No Yes
Mirror Trader No No No
ZuluTrade No No No
Sirix No No No
cTrader No No No
PAMM No Yes Yes
Custom Platforms ProRealTime & L2 Dealer No AT Pro, Advantage Web

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image No Yes Yes
Available Languages

English, French, German, Spanish, and Portuguese

English, Arabic, and Chinese

English, Spanish, German, Arabic, Polish, and Chinese

See platform & features

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

See platform & features

Losses can exceed deposits

See platform & features

70% of retail investor accounts lose money when trading CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by IG and Ingot Brokers

Demo account Yes Yes Yes
Mini account Yes No Yes
Micro account No No Yes
Standard account Yes Yes Yes
ECN Account No No No
Islamic account No No No
Zero spread account No No No
VIP account Yes Yes Yes
Fixed spreads No Yes Yes
Variable spreads Yes No Yes
See account options

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

See account options

Losses can exceed deposits

See account options

70% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping Yes No No
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes No No
Direct market access Yes Yes No
STP broker Yes No Yes
Market maker No Yes Yes
Min trade £1 0.01 Lot 1 Lot
Max trade Variable None Varies
Min deposit $250 1,000 $25

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading Yes No Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal Yes No No
Neteller No Yes No
Skrill No Yes No
Payment processing time Varies 1 business day 2-3 business days
Withdrawal processing time Varies 1 business day 2-3 business days
See all funding options

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

See all funding options

Losses can exceed deposits

See all funding options

70% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries US US US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW
Contact email Send Email Send Email Send Email
phone number 44 20 7633 5300 61280385040 0845 355 0801
Live Chat Yes Yes Yes
Website http://www.ig.com/ https://www.ingotbrokers.com.au/ www.cityindex.co.uk
Forex Spreads
EUR/USD 0.60 0.60 0.50
GBP/USD 0.90 1.20 0.80
USD/JPY 0.70 0.70 0.50
AUD/USD 0.6 0.5
Cryptocurrency Spreads 10 70
View all FX spreads

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

View all FX spreads

Losses can exceed deposits

View all FX spreads

70% of retail investor accounts lose money when trading CFDs with this provider

INDICE SPREADS
Dax 30 1.0 1.0
Nasdaq 100 1.0 1.0
Euro Stoxx 50 1.5 2.0
ASX 200 1.0 1.0
S&P 500 0.4 0.4
FTSE 100 1.0 1.0
Google 1 to 20 0.0015
Facebook 4 points per side 0.0015
View all spreads

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

View all spreads

Losses can exceed deposits

View all spreads

70% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee Yes No Yes
Commission Yes (0.1%) No 0.0015
Deposit Fee Varies Yes Varies
Withdrawal Fee No No Varies
View All Fees

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

View All Fees

Losses can exceed deposits

View All Fees

70% of retail investor accounts lose money when trading CFDs with this provider

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Last update

All information collected from http://www.ig.com/. Last updated on 01/06/2019.

All information collected from https://www.ingotbrokers.com.au/. Last updated on 01/06/2019.

All information collected from www.cityindex.co.uk. Last updated on 01/06/2019.

Company

Founded in 1974, IG are one of the largest and most respected brokers in the world. With over 125,000 traders, low margins and spreads, and a range of platforms, they're a popular choice for traders looking for a reputable broker that also offers a good range of markets and trading options.

IG are also one of the few brokers that offer experienced traders the chance to upgrade to an elective professional status. For more information about trading with IG, we have put together an indepth IG review with all the pros and cons about this broker.

Ingot Brokers is an online forex trading service provider who are regulated by the ASIC. To open an account with Ingot Brokers, minimum deposits start from $300.

With Ingot Brokers you can trade CFDs, energies, precious metals, and commodities. If you like to trade on the go, Ingot Brokers have iPhone appAndroid app so you can trade from anywhere on your phone.

Ingot Brokers offer MetaTrader 4, INGOT MT4 Tools Kit, Mobile Trading, Zulu Trade platforms to make your trades and support 2 different languages.

They also offer traders free educational material to better understand the markets and trading strategies.

The spreads offered by Ingot Brokers for the most popular instruments are:
2 EUR/USD, n/a FTSE 100, 0.5 GOLD,
3 GBP/USD, n/a DOW/JONES, 5 Crude Oil,
see all the spreads here.

Since establishing themselves as one of the first spread betting providers in the UK. , City Index have grown to a global company in over 50 countries completing over two million trades every month. City Index provide some of the most competitive spreads across thousands of markets including indices, shares, currencies, commodities and many more.

City Index have continued to innovate and were the first to provide a downloadable Android and iPhone app for spread betting and CFD trading and with over 30 years experience in the industry, you know you can trust Cityindex to handle your trades.

For more information about trading with City Index, we have put together an indepth City Index review with some of the pros and cons about this broker.

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IG or Ingot Brokers?

Well established or offers fixed spreads ?

If you’re a trader looking for a broker that has been established for a long time, IG is likely a good choice. However, if

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider IG to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

IG is regulated by Financial Conduct Authority and ASIC, while Ingot Brokers is regulated by ASIC.

As the Financial Conduct Authority are one of the most stringent regulators in the world, IG will have very strict guidelines to follow to ensure they protect their retail trader clients.

City Index are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

IG has been around for 45 years, while Ingot Brokers have been around for 15 years. Our third alternative broker, City Index, have been around for 36 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both IG and Ingot Brokers use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on IG or Ingot Brokers in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

IG is more popular with over 195,000 traders.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

IG is a publicly listed company, while on the other hand Ingot Brokers is still a privately owned company.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

IG are based in London, UK, while Ingot Brokers are based in Sydney, Australia.

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both IG and Ingot Brokers offer forex trading. IG have a slightly larger variety of currency pairs with 90 pairs, compared to 34 offered by Ingot Brokers. Also, if you’re looking to trade cryptocurrencies, IG offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both IG and Ingot Brokers allow you to trade commodities like gold, silver and crude oil.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both IG and Ingot Brokers offer this. Our alternative broker, City Index, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. IG, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

IG does allow scalping and hedging. While Ingot Brokers does not allow scalping but does allow hedging. You can trade with EAs (expert advisors) on both IG and Ingot Brokers.

In terms of risk management tools, neither IG or Ingot Brokers offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

IG also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

IG accept Paypal while Ingot Brokers accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, IG and Ingot Brokers both charge 0.60 points. Therefore, both brokers are equally affordable for this instrument. You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: IG or Ingot Brokers?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, IG is more reliable based on our criteria above. Ingot Brokers has a wider range of instruments to trade. IG offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.