IG Index or Trading212 – which is better for UK traders 2024? Compare IG Index and Trading212 in this detailed breakdown of their platforms, features and fees.
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.
Trading 212 is a European and UK-regulated CFD broker that also offers stock investing and ISAs. It’s best known for its commission-free trading model and beginner-friendly app, which has helped it attract 2.5 million users and £3.5 billion in client assets.
71% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Pros
IG is amongst the best in terms of its range of instruments, which includes stocks, forex, indices, commodities, and cryptocurrencies, providing ample diversification opportunities
The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for trading
The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our Best Trading App award
As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust
IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis
The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met
One of the standout features of Trading 212 is its commission-free trading, meaning you can buy and sell stocks, ETFs, and other financial instruments without incurring traditional brokerage fees
Trading 212 has an intuitive and user-friendly platform that is especially accessible for beginners, with a straightforward layout and a reasonable range of tools for analysis
The platform offers a good suite of instruments, including stocks, indices, ETFs, currencies, commodities, and CFDs. This variety can help you to create a diversified investment portfolio
A sleek mobile app lets you trade on the go. It’s well-designed and offers features similar to the web platform, making it convenient if you prefer mobile trading
Up to 5.1% interest on uninvested cash is available, appealing to hands-off investors
Cons
Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges
While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients
IG has discontinued its swap-free account, reducing its appeal to Islamic traders
Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests
IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors
Experienced traders who rely on sophisticated technical analysis tools will find Trading 212’s charting features to be somewhat basic, especially compared to alternatives like IG
While Trading 212 offers leveraged trading through CFDs, there are restrictions on leverage for certain instruments. If you want high leverage for your strategies, you will find these limitations constraining
There’s no copy trading, a significant drawback given Trading 212's client base is largely beginners and brokers like eToro offer this feature
There is no support for algorithmic or automated trading, nor third-party apps like MetaTrader 4, which will deter advanced traders. IC Markets ticks these boxes
Awards
Best Customer Service 2022 - Online Money Awards
Best Spread Betting Provider 2022 - Online Money Awards
Best Platform for the Active Trader 2022 - ADVFN International Financial Awards
Best Multi Platform Provider 2022 - ADVFN International Financial Awards
Best Finance App 2022 - ADVFN International Financial Awards
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.
Trading212 have positioned themselves at the front of the mobile trading movement. Their platform is based on a ‘mobile-first’ model, so they prioritize this type of trader. The app offers 1800+ instruments, zero commissions and a free practise account. Download the app risk free and try it out.
iOS App Rating
4.6
Android App Rating
4
Margin Trading
Yes
Yes
Margin Rate
2.5%
MetaTrader 4
Yes
No
MetaTrader 5
No
No
cTrader
No
No
AlgoTrader
No
No
OmniTrader
No
No
TradingView
No
No
Autochartist
Yes
No
eSignal
No
No
Trading Central
Yes
No
STP Account
No
Yes
ECN Account
No
No
DMA Account
Yes
No
MAM Account
No
No
PAMM Account
No
No
LAMM Account
No
No
Demat Account
No
No
AI / Machine Learning
No
No
Robo Advisor
Yes
No
Negative Balance Protection
Yes
Yes
Market Maker
Yes
Yes
P2P Trading
No
No
Spot Trading
Yes
No
Auto Trading
Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime
AutoInvest Portfolio
Copy Trading
No
No
Social Trading
No
Yes
Trade Signals
Yes
VPS Hosting
Yes
No
Tournaments
No
No
Demo Competitions
No
No
Ethical Investing
Yes
Yes
Custodial Account
No
No
Guaranteed Stop Loss
Yes
No
Inactivity Fee
$12
Islamic Account
No
No
Account Currencies
USD
EUR
GBP
CAD
AUD
JPY
ZAR
SEK
DKK
CHF
HKD
SGD
USD
EUR
GBP
CAD
SEK
NOK
DKK
CHF
PLN
CZK
HUF
Commodities
Gold
Copper
Oil
Palladium
Silver
Sugar
Coffee
Wheat
Natural Gas
Soybeans
Orange Juice
Nickel
Steel
Iron
Precious Metals
Aluminium
Lithium
Cannabis
Gold
Silver
Gasoline
Oil
Copper
Palladium
Coffee
Cotton
Platinum
Corn
Sugar
Cocoa
Livestock
Wheat
Soybeans
Natural Gas
Lead
CFD
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.
Engage in leveraged CFD trading across a wide array of instruments, encompassing forex, stocks, commodities, and indices. Yet while the selection of asset classes is satisfactory, the charting software and floating spreads for short-term traders fall behind that of competitors.
Leverage
1:30 (Retail), 1:222 (Pro)
1:30
FTSE Spread
1.0
2.5
GBPUSD Spread<
0.9
0.00028
Oil Spread
2.8
0.4
Stocks Spread
0.02
0.2% Var
Forex
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.
Trade over 180 major, minor, and exotic forex pairs on the Trading 212 platform, featuring floating spreads and leverage up to 1:30. It’s important to note, though, that the forex broker has a history of adjusting margin requirements without providing adequate notice. As a result, CMC Markets is a better pick for forex traders with more currency pairs and a cleaner record.