IG Group is a company situated in the United Kingdom that offers trading in monetary derivatives like financial spread betting and contract for difference. Though most of the activities of IG Group are conducted in the UK, this firm has roots in various places worldwide.
Forex.com is a broker having a wide array of alternatives for Forex and CFD i.e. contract for difference traders across its global based controlled offerings. This broker is equipped with full-feature platforms, comprehensive research, and diverse trading facilities all intended to serve the needs of their various clients accordingly.
Though these trading firms have top-notch solutions that can enable you earn massive returns in terms of profits as a trader utilizing their platforms, utilizing their services is not a guarantee you will always trade successfully. Despite the kind of broker you will choose to work with in your online trading journey, chances of making enormous profits are balanced with those of losing a huge cash amount. Therefore, to maximize the possibilities of earning profits and minimize the chances of encountering losses, you must make sure you do your homework accordingly so that you can discover own tricks that will enable you become a successful trader.
The market niche for online trading brokers is filled with different kinds of brokers with varying terms and conditions of operations. Therefore, before you entrust any broker with your trading needs, compare the services of the different broker alternatives prior to choosing one. Here are some facts about IG Group and Forex.com which will enable you figure out between the two brokers who is the best for your online trading wants:
Forex.com vs IG Group
General Overview of IG Group and Forex.com
Forex.com and IG Group are publicly traded firms and are controlled in a paramount hub. However, when it comes to the total number of currency pairs obtainable to trade, IG Group provides seven more that Forex.com. IG Group offers 91 currency pairs while their counterpart Forex.com provides 84 currency pairs.
However, despite the difference in the number of currency pairs offered by these brokers, both have systems which are straightforward and easy to translate, and hence can be used with ease with any online trader, whether a beginner or experienced trader.
- Methods of Payment
Forex.com only allows Check and Bank Wire as their modes of payment. This broker only accepts CAD, USD, CHF, EUR, GBP, YEN, AUD and NZD deposits.
IG Group provides its clients with several payment options that include Debit card, Credit card, and Bank Wire. When using a Debit Card MasterCard or Visa to fund your IG Group account for trading, you will not incur any cost. However, using a Credit Card Visa will expose you to a 1% charge while a Credit Card MasterCard a 0.5% charge.
- Trading Platforms
Forex.com has three trading platforms that their clients use. They include Tradable, ForexTrader Pro and MetaTrader4 platforms.
IG Group provides their clients with MetaTrader4, Trading apps, and Web-based platforms.
Both Forex.com and IG Group have trading platforms that are flexible and easy to navigate, and are equipped with various order management tools and professional charting that are very reliable.
However, Forex.com has more charting tools accessible to its clients than IG Group with the former having 22 charting tools while the latter 17 charting tools. The total number of indicators such as moving averages and the rest offered by Forex.com are more than those provided by IG Group. Forex.com provides its clients with 139 indicators while IG Group offers 22 indicators, a difference of 117.
In terms of rating, Forex.com has 4 stars while their counterpart IG Group 4.5 stars. However, in terms of individual category awards IG Group managed to acquire Best in Class-Mobile Trading, Best in Class-Platforms and Tools and Best in Class-Research. Forex.com found itself with Best in Class-Mobile Trading and Best in Class-Research in 2018.
Courtesy of the aforementioned factors, you can now be able to figure out between Forex.com and IG Group which broker has solutions that will suit your online trading needs better. Whether you will collaborate with Forex.com or IG Group, whether you are an experienced or amateur trader, make sure you perform a proper fact-finding undertaking about online trading so that you can discover tricks that will help you use different trading platforms accordingly and increase the chances of earning higher returns.
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