TP Global FX vs IG Index

TP Global FX or IG Index – which is better for UK traders 2024? Compare TP Global FX and IG Index in this detailed breakdown of their platforms, features and fees.

TP Global FX vs IG Index Comparison Table 2024
TP Global FX IG Index
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3.9
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4.4
TP Global FX is ranked #96 among CFD brokers. IG Index is ranked #22 among CFD brokers.
Review
Review
TP Global FX has closed or no longer accepts UK clients.
TP Global FX is an offshore broker with a strong focus on education and technical analysis tools. It offers STP pricing and up to 1:500 leverage on 50+ forex pairs and a smaller range of stocks, indices, commodities and cryptocurrencies. The broker supports the MetaTrader 4 and MetaTrader 5 platforms and offers additional services including copy trading and an informative daily blog. 		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.
69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Pros
  • Good range of frequently updated educational resources
  • Demo profile with unlimited simulated funds
  • Very tight spreads from 0.2
  • Support for MT4 and MT5
  • Copy trading service
  • Accepts crypto deposits
  • ~30ms execution speeds
  • High leverage available
  • True STP pricing
  • 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
Cons
  • Limited consumer protections in place including negative balance protection
  • High commissions of $15/$8 for the low-spread accounts
  • Not overseen by any top-tier regulators
  • Narrow choice of deposit options
  • Small range of non-forex assets
  • 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
Awards
  • Most Transparent Broker 2021 - Forex Broker Awards
  • Best FX Educational Broker 2021 - Forex Broker Awards
  • Best Affiliate Program 2021 - Forex Broker 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
FCA Regulated
No Yes
Instruments
Forex, CFDs, indices, commodities, cryptocurrencies CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
Demo Account
Yes Yes
Minimum Deposit
$200 $0
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
SVGFSA, VFSC, CAMA FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA
Mobile Apps
Yes (iOS & Android) iOS & Android
Trading App

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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4.6
Android App Rating
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4
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
Yes Yes
STP Account
Yes No
ECN Account
No No
DMA Account
No Yes
MAM Account
No 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
No Yes
Market Maker
No 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
Follow and copy multiple professional traders using performance analytics and market signals at TP Global FX.
Social Trading
Yes No
Trade Signals
Yes Yes
VPS Hosting
No Yes
Tournaments
Yes 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
  • USD
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • ZAR
  • SEK
  • DKK
  • CHF
  • HKD
  • SGD
Commodities
  • Gold
  • Silver
  • Copper
  • Oil
  • Gasoline
  • Cocoa
  • Coffee
  • Corn
  • Cotton
  • Aluminium
  • Natural Gas
  • Sugar
  • Gold
  • Copper
  • Oil
  • Palladium
  • Silver
  • Sugar
  • Coffee
  • Wheat
  • Natural Gas
  • Soybeans
  • Orange Juice
  • Nickel
  • Steel
  • Iron
  • Precious Metals
  • Aluminium
  • Lithium
  • Cannabis
CFD
TP Global FX clients can trade CFDs on forex as well as around 12 stocks, 12 indices, five cryptocurrencies and commodities including gold, silver oil and gas. CFDs trade with up to 1:500 leverage on the hugely popular and reliable MT4 and MT5 platforms. 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
1:500 1:30 (Retail), 1:222 (Pro)
FTSE Spread
Not offered 1.0
GBPUSD Spread<
From 0.2 pips 0.9
Oil Spread
From 0.2 pips 2.8
Stocks Spread
From 0.2 points 0.02
Forex
TP Global FX offers trading on 50+ forex pairs with a good selection of minors and exotics as well as the majors. The broker offers fast 30ms execution speeds with a Straight-Through Processing system. Very tight spreads starting from 0.2 are available on pro accounts, while standard commission-free account spreads start from 1.2. 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
50+ 80+
GBPUSD Spread
From 0.2 pips 0.9
EURUSD Spread
From 0.2 pips 0.8
EURGBP Spread
From 0.2 pips 0.9
Currency Indices
  • USD
Cryptocurrency
TP Global FX offers CFDs on five cryptocurrencies paired with USD. Spreads are lower than many alternatives and users can trade crypto 24/7 without interruption. 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
Variable Variable
Coins
  • BTC
  • ETH
  • LTC
  • XRP
  • EOS
  • BTC
  • BCH
  • LTC
  • ETH
  • ADA
  • DOT
  • DOGE
  • LINK
  • UNI
  • XLM
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
TP Global FX IG Index
Review
Review
69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
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