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

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

IG
9.8 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT IG
Instaforex
0 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT INSTAFOREX
Axitrader
9.9 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT AXITRADER
About

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

InstaForex are regulated by CySEC. They were founded in 2007 and are used by over 7,000,000 traders.

Axitrader is regulated by the Financial Conduct Authority. Axitrader have provided Forex trading services since 2007.

Why choose them?
  • Yes Over 44 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
  • Yes Over 11 years in business
  • Yes Used by 7,000,000 traders
  • Yes Offers swap-free accounts
  • Yes Over 11 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
Headquarters London, UK Kaliningrad, Russia 36 Leadenhall Street, London EC3A 1 AT, United Kingdom

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting Yes No Yes
Social Trading No Yes Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 90 107 80
Commodities Offered 34 2 6
Stocks Offered 8000 88 0
Bitcoin Yes Yes Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes No
Penny stocks No No No
Energies Yes No Yes
Metals Yes Yes Yes
Agriculturals Yes No Yes
FTSE Yes No Yes
Dow Jones Yes No Yes
Dax Yes No Yes
Nikkei Yes No No
ETFs Yes No No
IPO Yes No No
See all instruments

74% of retail investor accounts lose money when trading spread bets and CFDs with this provider

See all instruments

50% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

68.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

PLATFORM & FEATURES

See the platforms and features offered by each broker

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

APPS

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

English, French, German, Spanish, and Portuguese

Arabic, Chinese, English, Portuguese, Russian, Spanish, and Indonesian

English, Chinese, Spanish, Thai, Italian, Polish, German, Vietnamese, Japanese, Russian, Romanian, and Arabic

See platform & features

74% of retail investor accounts lose money when trading spread bets and CFDs with this provider

See platform & features

50% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

68.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

ACCOUNT INFORMATION

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

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

74% of retail investor accounts lose money when trading spread bets and CFDs with this provider

See account options

50% of retail investor accounts lose money when trading CFDs with this provider.

See account options

68.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes Yes Yes
Direct market access Yes No Yes
STP broker Yes Yes Yes
Market maker No Yes Yes
Min trade £1 0.01 Lot 0.01 Lot
Max trade Variable 1,000 Lot 100 Lots
Min deposit $250 $1 $1

RISK MANAGEMENT

Stop losses Yes No Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes No Yes
Price alerts Yes Yes Yes
Signal trading Yes Yes 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 Yes
Skrill No No Yes
Payment processing time Varies 1-2 business days Instant via debit/credit card
Withdrawal processing time Varies 1-6 business days Same or next day with local payments. International payments take 3-5 days.
See all funding options

74% of retail investor accounts lose money when trading spread bets and CFDs with this provider

See all funding options

50% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

68.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

DETAILED INFO

Excluded countries US US US, JP
Contact email Send Email Send Email Send Email
Phone number 44 20 7633 5300 7 (812) 4580354 44 207 096 7488
Live Chat Yes Yes No
Website http://www.ig.com/ https://www.instaforex.com/ www.axitrader.com
Spreads:
EUR/USD (Average: 0.7 pips) 0.6 pips + $1.00 Not offered 0.2 pips
GBP/USD (Average: 1.1 pips) 0.9 pips + $1.00 2.0 pips 0.6 pips
USD/JPY (Average: 1.1 pips) 0.7 pips + $1.00 2.0 pips 0.1 pips
AUD/USD (Average: 0.8 pips) 0.6 pips + $1.00 2.0 pips 0.1 pips
USD/CHF (Average: 2.3 pips) 1.5 pips + $1.00 Not offered 0.2 pips
USD/CAD (Average: 2.9 pips) 1.7 pips + $1.00 Not offered 0.2 pips
NZD/USD (Average: 3.6 pips) 2.0 pips + $1.00 Not offered 0.2 pips
EUR/GBP (Average: 2.4 pips) 0.9 pips + $1.00 Not offered 0.2 pips
View all spreads

74% of retail investor accounts lose money when trading spread bets and CFDs with this provider

View all spreads

50% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

68.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FEES

Inactivity Fee Yes Yes No
Commission Yes (0.1%) Yes, $30 Yes
Deposit Fee Varies No None
Withdrawal Fee No Yes None
View All Fees

74% of retail investor accounts lose money when trading spread bets and CFDs with this provider

View All Fees

50% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

68.5% of retail investor accounts lose money when trading CFDs with this provider. 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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Last update

All information collected from http://www.ig.com/. Last updated on 01/09/2019.

All information collected from https://www.instaforex.com/. Last updated on 01/09/2019.

All information collected from www.axitrader.com. Last updated on 01/09/2019.

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.

InstaForex are regulated by CySEC. They were founded in 2007 and are used by over 7,000,000 traders.

Axitrader is an online forex trading sevice provider who are regulated by the Financial Conduct Authority and ASIC. To open an account with Axitrader, minimum deposits start from $200.

With Axitrader you can trade 61 FX pairs, metals, and CFDs. If you like to trade on the go, Axitrader have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

Axitrader offer MT4 for PC, MT4 for Mac, MT4 for Mobile, MT4 NexGen, MT4 Trading Signals, AxiTrader's Multi Account Manager platforms to make your trades and support 6 different languages.

They also offer a free demo account for traders who want to refine their trading skills.

The spreads offered by Axitrader for the most popular instruments are:
0.6 EUR/USD, 0.5 FTSE 100, 0.5 GOLD,
1 GBP/USD, 1 DOW/JONES, 0.5 Crude Oil,
see all the spreads here.



For more information about trading with Axitrader, we have put together an indepth Axitrader review with all the pros and cons about this broker.

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IG or Instaforex?

Low spreads or offers Islamic accounts ?

If you’re a trader looking for a broker with low spreads on popular instruments like EUR/USD, IG is likely a better option. 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 Instaforex is regulated by CySEC.

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.

Axitrader 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 Instaforex have been around for 12 years. Our third alternative broker, Axitrader, have been around for 12 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.

IG uses tier one banks as their banking partner.Instaforex does not use tier one banks as their banking partner.

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.

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.

According to their websites, IG is more popular with over 195,000 traders, while Instaforex is used by 7,000,000 traders. Axitrader, in comparison, is used by 221,000.

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 Instaforex 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 Instaforex are based in Kaliningrad, Russia .

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 Instaforex offer forex trading. Instaforex have a slightly larger variety of currency pairs with 107 pairs, compared to 90 offered by IG. Also, if you’re looking to trade cryptocurrencies, IG offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

If you’re looking to trade commodities like gold, silver or oil, IG may be a better fit as Instaforex does not offer commodity trading.

Instaforex also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

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 Instaforex offer this. Instaforex also offer the new & improved MT5 platform. Our alternative broker, Axitrader, 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 Instaforex also allows scalping and hedging. You can trade with EAs (expert advisors) on both IG and Instaforex.

In terms of risk management tools, neither IG or Instaforex 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 Instaforex 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 charges 0.60 points, while Instaforex charges points. Therefore, Instaforex is the more affordable for this instrument. If you want to compare their spreads across more instruments, 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 Instaforex?

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. IG has a wider range of instruments to trade. Instaforex 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.