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
SpreadEx
8.7 /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 SPREADEX
AvaTrade
9.7 /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 AVATRADE
About

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

SpreadEx is regulated by the Financial Conduct Authority. SpreadEx have provided Forex, CFDs, and spread betting services since 1999.

AvaTrade is regulated by the Central Bank of Ireland, ASIC (Australia), FSA (Japan), FSB (South Africa) and BVI. AvaTrade have provided Forex trading services since 2006.

Why choose them?
  • Yes Over 44 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Central Bank of Ireland, ASIC, FSA, FSB and BVI
Headquarters London, UK St Albans, UK Dublin, Ireland

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting Yes Yes Yes
Social Trading No No Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 90 51 59
Commodities Offered 34 16 16
Stocks Offered 8000 1000 99
Bitcoin Yes Yes Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No Yes No
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes Yes Yes
FTSE Yes Yes Yes
Dow Jones Yes Yes Yes
Dax Yes Yes Yes
Nikkei Yes Yes Yes
ETFs Yes Yes Yes
IPO Yes Yes Yes
See all instruments

75% of retail investor accounts lose money when trading spread bets and CFDs with this provider

See all instruments

67% of retail investors lose money when trading spread bets and CFDs with this provider.

See all instruments

71% 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 No Yes
MT5 No No Yes
MT4 Mac Yes No Yes
WebTrader Yes Yes Yes
Mirror Trader No No Yes
ZuluTrade No No Yes
Sirix No No No
cTrader No No No
PAMM No No No
Custom Platforms ProRealTime & L2 Dealer Spreadex AvaTradeAct, AVAOptions

APPS

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

English, French, German, Spanish, and Portuguese

English

English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch

See platform & features

75% of retail investor accounts lose money when trading spread bets and CFDs with this provider

See platform & features

67% of retail investors lose money when trading spread bets and CFDs with this provider.

See platform & features

71% 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 SpreadEx

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 Yes
Zero spread account No No No
VIP account Yes No Yes
Fixed spreads No Yes Yes
Variable spreads Yes Yes Yes
See account options

75% of retail investor accounts lose money when trading spread bets and CFDs with this provider

See account options

67% of retail investors lose money when trading spread bets and CFDs with this provider.

See account options

71% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes No Yes
Virtual private server Yes No No
Direct market access Yes No Yes
STP broker Yes No No
Market maker No Yes Yes
Min trade £1 0.01 Lot 0.01 Lot
Max trade Variable Variable None
Min deposit $250 $1 $100

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 Yes
Neteller No No Yes
Skrill No Yes Yes
Payment processing time Varies Varies Varies
Withdrawal processing time Varies Varies Varies
See all funding options

75% of retail investor accounts lose money when trading spread bets and CFDs with this provider

See all funding options

67% of retail investors lose money when trading spread bets and CFDs with this provider.

See all funding options

71% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US, TR US, TR BE,BR,NZ,US,KE,IN,GH
Contact email Send Email Send Email Send Email
Phone number 44 20 7633 5300 44 (0) 1727 895 000 (44) (0) 8005200423
Live Chat Yes No Yes
Website http://www.ig.com/ https://www.spreadex.com/ http://www.avatrade.com/
Spreads:
EUR/USD (Average: 0.7 pips) 0.6 pips + $1.00 1.0 pips 0.9 pips
GBP/USD (Average: 1.1 pips) 0.9 pips + $1.00 0.9 pips 1.6 pips
USD/JPY (Average: 1.1 pips) 0.7 pips + $1.00 0.7 pips 1.1 pips
AUD/USD (Average: 0.8 pips) 0.6 pips + $1.00 0.6 pips 1.1 pips
USD/CHF (Average: 2.3 pips) 1.5 pips + $1.00 1.5 pips 1.6 pips
USD/CAD (Average: 2.9 pips) 1.7 pips + $1.00 1.7 pips 2.0 pips
NZD/USD (Average: 3.6 pips) 2.0 pips + $1.00 2.0 pips 1.8 pips
EUR/GBP (Average: 2.4 pips) 0.9 pips + $1.00 0.9 pips 1.5 pips
View all spreads

75% of retail investor accounts lose money when trading spread bets and CFDs with this provider

View all spreads

67% of retail investors lose money when trading spread bets and CFDs with this provider.

View all spreads

71% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee Yes No No
Commission Yes (0.1%) No No
Deposit Fee Varies No No
Withdrawal Fee No 0, minimum £50 No
View All Fees

75% of retail investor accounts lose money when trading spread bets and CFDs with this provider

View All Fees

67% of retail investors lose money when trading spread bets and CFDs with this provider.

View All Fees

71% 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 01/12/2019.

All information collected from https://www.spreadex.com/. Last updated on 01/12/2019.

All information collected from http://www.avatrade.com/. Last updated on 01/12/2019.

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.

Spreadex is a leading provider of spread betting services and have captured an estimated 10% of the financial spread betting market. Spreadex understand the importance of security and trust and therefore all client funds are held in a segregated Barclays bank account in accordance with the Financial Conduct Authority, whom they are regulated by. Spreadex is perfect for those that are looking for an established and trusted spread betting broker.

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

Since 2006, Avatrade have attracted over 20,000 traders to their platform. While their spreads are not the most competitive, they do offer traders a range of great features, such as guaranteed stop losses, the ability to hedge / scalp, and low margins.

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

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IG or SpreadEx?

Access to MT4 or a wide range of instruments?

If you’re a trader looking for a broker that offers the popular MT4 trading platform, IG is likely a better fit. However, if you want a broker with a large range of instruments available to trade, SpreadEx may be more suitable.

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 SpreadEx is regulated by Financial Conduct Authority.

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

AvaTrade are regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI

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 SpreadEx have been around for 20 years. Our third alternative broker, AvaTrade, have been around for 13 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 SpreadEx 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 SpreadEx 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 SpreadEx 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 SpreadEx are based in St Albans, UK .

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 SpreadEx offer forex trading. IG have a slightly larger variety of currency pairs with 90 pairs, compared to 51 offered by SpreadEx. 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 SpreadEx allow you to trade commodities like gold, silver and crude oil.

Platforms & Account Types

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 SpreadEx also allows scalping and hedging. You can trade with EAs (expert advisors) on IG but you can't trade EAs (expert advisors) with SpreadEx.

In terms of risk management tools, neither IG or SpreadEx 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 SpreadEx accept Skrill.

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 SpreadEx 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 SpreadEx?

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. SpreadEx 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.