FXChoice vs IG Index
FXChoice or IG Index – which is better for UK traders 2024? Compare FXChoice and IG Index in this detailed breakdown of their platforms, features and fees.
| FXChoice | IG Index |
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| FXChoice is ranked #97 among CFD brokers. | IG Index is ranked #19 among CFD brokers. |
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FXChoice has closed or no longer accepts UK clients.
FXChoice is a Belize-based broker established in 2010 and registered with the Financial Services Commission (FSC). The brand offers a wide selection of markets including crypto, plus the familiar MT4 and MT5 platforms. FXChoice stands out for its extra tools and perks, from LearnFx EAs to a VPS and Myfxbook's AutoTrade. New users can also claim a welcome bonus upon sign-up. |
Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders. |
| 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. | |
| Pros | |
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| Cons | |
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| Awards | |
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| FCA Regulated | |
| No | Yes |
| Instruments | |
| CFDs, Forex, Indices, Commodities, Cryptocurrencies, Shares | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting |
| Bonus | |
| 50% Welcome Deposit Bonus | |
| Demo Account | |
| Yes | Yes |
| Minimum Deposit | |
| $100 | $0 |
| Payment Methods | |
| Minimum Trade | |
| 0.01 Lots | 0.01 Lots |
| Regulator | |
| FSC | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA |
| Mobile Apps | |
| iOS & Android | iOS & Android |
| Trading App | |
MT4 and MT5 apps are available to download form the Apple and Google Play stores. Both applications offers one-click trading, advanced charts and graphs, built-in support, plus instant and pending order types. MT4 is best suited to forex beginners while MT5 will meet the needs of experienced FX traders. |
IG offers a superb all-round trading app. One of the pioneers of mobile trading, the application has been developed and refined over many years, meaning it is now among the best trading apps. Quick response, user-friendly layout, access to full charting and a stable and reliable application. It also offers guaranteed stops – an important risk management tool not available on many apps we’ve tested. |
| iOS App Rating | |
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| Android App Rating | |
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| Margin Trading | |
| Yes | Yes |
| Margin Rate | |
| 2.5% | |
| MetaTrader 4 | |
| Yes | Yes |
| MetaTrader 5 | |
| Yes | No |
| cTrader | |
| No | No |
| AlgoTrader | |
| No | No |
| OmniTrader | |
| No | No |
| TradingView | |
| No | No |
| Autochartist | |
| No | Yes |
| eSignal | |
| No | No |
| Trading Central | |
| No | Yes |
| STP Account | |
| No | No |
| ECN Account | |
| Yes | No |
| DMA Account | |
| No | Yes |
| MAM Account | |
| Yes | No |
| PAMM Account | |
| No | No |
| LAMM Account | |
| No | No |
| Demat Account | |
| No | No |
| AI / Machine Learning | |
| No | No |
| Robo Advisor | |
| No | Yes |
| Negative Balance Protection | |
| Yes | Yes |
| Market Maker | |
| Yes | Yes |
| P2P Trading | |
| No | No |
| Spot Trading | |
| Yes | Yes |
| Auto Trading | |
| Expert Advisors (EAs) on MetaTrader | Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime |
| Copy Trading | |
| Yes | No |
| Copy Trading Platform | |
| FXChoice has partnered with Myfxbook AutoTrade to offer copy trading to all account holders. You can find and follow the strategies of multiple traders with straightforward account management. MQL5 signals can also be used to inform buy or sell decisions. | |
| Social Trading | |
| Yes | No |
| Trade Signals | |
| Yes - MQL5 | Yes |
| VPS Hosting | |
| Yes | Yes |
| Tournaments | |
| No | No |
| Demo Competitions | |
| No | No |
| Ethical Investing | |
| No | Yes |
| Custodial Account | |
| No | No |
| Guaranteed Stop Loss | |
| No | Yes |
| Inactivity Fee | |
| $12 | |
| Islamic Account | |
| Yes | No |
| Account Currencies | |
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| Commodities | |
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| CFD | |
| FXChoice offers highly leveraged CFD products on a breadth of financial markets, including shares, indices, commodities and crypto. FXChoice provides more supporting tools than many alternatives, including signals, auto trading, a VPS, and a research center. | IG offers a huge selection of 17,000+ CFDs, providing more trading opportunities than most CFD brokers. Traders can go long or short on popular markets like stocks, currencies, commodities and cryptos, while custom price alerts and the IG Academy continue to enhance the trading experience. |
| Leverage | |
| 1:200 | 1:30 (Retail), 1:222 (Pro) |
| FTSE Spread | |
| From $18.53 | 1.0 |
| GBPUSD Spread< | |
| From $8 | 0.9 |
| Oil Spread | |
| From $40 | 2.8 |
| Stocks Spread | |
| Variable | 0.02 |
| Forex | |
| Trade 36 forex pairs, including the EUR/USD with spreads from zero pips. FXChoice offers higher leverage on forex than most competitors, alongside 24/5 support and an accessible $10 starting deposit. | IG offers an above-average suite of 80+ currency pairs on its proprietary web platform, mobile app or MetaTrader 4, with more advanced charts and forex analysis tools available on the ProRealTime software. Forex spreads are competitive based on tests, starting from 0.1 pips on majors like the EUR/USD. |
| Assets | |
| 36 | 80+ |
| GBPUSD Spread | |
| From $8 | 0.9 |
| EURUSD Spread | |
| From $5 | 0.8 |
| EURGBP Spread | |
| From $6.95 | 0.9 |
| Currency Indices | |
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| Cryptocurrency | |
| FXChoice offers trading on leading crypto cross pairs with the US Dollar. The selection of digital assets is narrow but spreads are tight starting at 0.15. | IG's modest selection of 11 crypto CFDs trails top crypto brokers like Vantage which offers 40+ tokens. That said, it stands out with its crypto index, which tracks the value of the top 10 digital currencies by market cap and provides a holistic way to speculate on the value of the crypto market. |
| Spread | |
| 0.11 - 3.0 pips | Variable |
| Coins | |
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| Crypto Lending | |
| No | No |
| Crypto Mining | |
| No | No |
| Crypto Staking | |
| No | No |
| Auto Market Maker | |
| Yes | No |
| FXChoice | IG Index |
| 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. | |
| More Comparisons | |
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FXChoice vs |
IG Index vs |