GMG Markets vs IG Comparison
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Comparison Table of GMG Markets and IG
| Broker | GMG Markets | IG |
|---|---|---|
| Rating | 4/5 | 4.1/5 |
| Foundation Year | 2015 | 1973 |
| Regulated in Countries | United Kingdom | United Kingdom, Bermuda, Germany, Netherlands, Italy, Spain, France, Sweden, Switzerland, United States, Australia, Japan, Singapore, South Africa, United Arab Emirates |
| Minimum Deposit |
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| Spread | from 0 points | from 0.165 points |
| Max Leverage | 1:30 | 1:200 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | GMG Markets Review | IG Review |
GMG Markets suits active Forex traders and scalpers who value FCA regulation, MT5, and low spreads; however, it may feel restrictive for investors and stock enthusiasts.
Broker IG.com is suitable for traders of all levels, offering reliability, convenience, a wide selection of instruments, and good customer support.
GMG Markets Review
GMG Markets is a niche broker primarily designed for active FX traders, scalpers, and algorithmic traders who only need two well-optimized accounts. The MT5 platform provides a comprehensive toolkit for both manual and automated trading, Autochartist supplements basic technical analysis, and 24/5 support responds swiftly and effectively.
This broker is ideal for those who appreciate transparent fees, swift fund withdrawals, and FCA regulation but do not require an extensive product lineup or copy trading services. Novice traders can test the live markets and undergo basic training via webinars, whereas professionals can access leverage up to 1:200 under Pro status. Investors, diversification enthusiasts, or those needing a multitude of platforms and services might be better served by more versatile providers.
Pros and Cons of GMG Markets
Pros
- Robust regulation — FCA license, segregated accounts, FSCS protection.
- Transparent fee structure — Standard account with zero commission, Raw account with zero spreads and fixed fee.
- MT5 + Autochartist — comprehensive desktop, web, and mobile platforms, algorithm support, integrated chart pattern scanner.
- VPS hosting — complimentary with required monthly turnover.
- 24/5 tech support — chat, phone, and e-mail typically respond within minutes.
Cons
- Limited instrument selection — only Forex, a few indices, and commodities.
- Single platform offering — no MT4, cTrader, TradingView, or proprietary web terminal.
- No e-wallets or cryptocurrencies available for transactions.
- Investor services are lacking — no copy trading, PAMM, contests, or comprehensive fundamental analysis.
IG Review
IG is a highly regulated broker with licenses from reliable financial authorities, providing clients with high funds protection. Thanks to narrow spreads, traders can effectively manage their costs and increase the profitability of their operations. Quality trading platforms and advanced analytical tools support informed trading decisions, while extensive educational resources make IG attractive to traders of all experience levels.
Pros and Cons of IG
Pros
- Licenses from regulators with a high level of credibility.
- Tight spreads.
- A variety of markets and products.
- Extensive set of analytical tools and content.
- Quality educational resources for different levels of traders.
Cons
- Limited choice of trading accounts.
- High trading fee on DMA account.
- Inactivity fee.
- Limited choice of payment methods.
IG is in the top 10 of the following ratings:
Reliability
| Broker | GMG Markets | IG |
|---|---|---|
| Reliability | 5/5 | 5/5 |
| Foundation Year | 2015 | 1973 |
| Regulated in Countries | United Kingdom | United Kingdom, Bermuda, Germany, Netherlands, Italy, Spain, France, Sweden, Switzerland, United States, Australia, Japan, Singapore, South Africa, United Arab Emirates |
| Regulators | FCA FCA | FCA FCA BMA BMA BaFin BaFin FSAN FSAN AFM AFM CONSOB CONSOB CNMV CNMV ACPR ACPR FI FI FINMA FINMA NFA NFA CFTC CFTC ASIC ASIC NZ FMA NZ FMA JFSA JFSA JFFA JFFA MAS MAS FSCA FSCA DFSA DFSA |
GMG Markets
Since 2016 under FCA oversight, GMG Markets holds client funds in segregated accounts and qualifies for FSCS protection.
Pros
- FCA License — Tier-1 regulator
- Funds segregation + FSCS compensation up to £85,000
- STP/NDD model without dealer intervention
Cons
- Single jurisdiction (FCA), no additional licenses
IG
The company is subject to numerous international regulators, ensuring a high degree of transparency.
Account Opening
| Broker | GMG Markets | IG |
|---|---|---|
| Account Opening | 5/5 | 4/5 |
| Minimum Deposit |
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GMG Markets
GMG Markets onboarding is quick and efficient: registration takes 5–7 minutes, with verification under 1 business day.
Pros
- Online registration in 5–7 minutes
- Document verification within 1 day
Cons
- Detailed KYC form
IG
The account opening process is simple, fast, and convenient for traders of any experience level.
Pros
- No minimum deposit required.
- Quick registration process (5-10 minutes).
Cons
- Necessity to provide extensive personal and financial information.
- Verification may take a couple of days.
- There is a possibility of being denied account opening.
Account Types
| Broker | GMG Markets | IG |
|---|---|---|
| Account Types | 3.8/5 | 2.5/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0 points | from 0.165 points |
| Max Leverage | 1:30 | 1:200 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
GMG Markets
Only two main accounts — Standard and Raw Spread — cater to basic requirements, but the absence of cent or fixed-spread accounts, copy trading, PAMM, and contest services limits variety.
Pros
- Commission-free Standard, and zero-spread Raw account
- Islamic account and spread-betting options for niche segments
- Complimentary VPS with required turnover
Cons
- No cent/fixed-spread account
- Lack of copy trading, PAMM, contests
IG
IG offers a limited selection of accounts, meeting the basic needs of traders, but not accommodating specific requirements.
Pros
- Availability of DMA account for professional traders.
- Premium service offered for high-value clients.
- Free demo account for practice and training.
Cons
- Absence of Islamic and investment accounts.
- No fixed spread accounts and cent accounts.
Commissions
| Broker | GMG Markets | IG |
|---|---|---|
| Commissions | 4/5 | 3/5 |
| Spread | from 0 points | from 0.165 points |
| Average Spread (EURUSD) | 1.2 | 1.1 |
| Commission per Lot | $3.5 | $6.48 |
GMG Markets
GMG Markets offers a transparent fee structure: one account includes all charges within the spread, while another charges a small fee with a minimal spread. Deposits and withdrawals are free, no inactivity fee is applied, though swaps are slightly above average.
Pros
- No inactivity fees
- Free deposits and withdrawals
Cons
- Swaps are above average
IG
IG provides an average level of commissions, with low spreads but high transaction fees on DMA accounts.
Pros
- Low spreads.
- No fees for deposits/withdrawals.
Cons
- High transaction fee on DMA account.
- Inactivity fee.
- Currency conversion fee and guaranteed stop fee.
Deposit and Withdrawal
| Broker | GMG Markets | IG |
|---|---|---|
| Rating | 4/5 | 3.7/5 |
| Account Funding Methods |
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GMG Markets
Card and bank transfers are swift and fee-free, but the absence of e-wallets and cryptocurrencies limits options.
Pros
- Commission-free transactions
- Instant card funding
Cons
- No e-wallets
- No cryptocurrencies
IG
Broker IG offers an average level of services for deposits/withdrawals, not charging a fee, but has limitations on available methods.
Pros
- No commission for funding and withdrawal.
- PayPal available as a deposit/withdrawal option.
- Transparent information about limits.
Cons
- Absence of cryptocurrencies and most electronic wallets.
- Withdrawal processing time can take up to 5 business days.
- Restrictions on the minimum withdrawal amount.
Markets and Products
| Broker | GMG Markets | IG |
|---|---|---|
| Markets and Products | 2.5/5 | 5/5 |
| Forex | 64 | 99 |
| Precious Metals | 13 | 11 |
| Energy Carriers | 3 | 9 |
| Indices | 17 | 46 |
| Soft Commodities | - | 20 |
| Stocks | - | 13000 |
| ETF | - | 5400 |
| Bonds | - | 19 |
| Cryptocurrency | - | 15 |
GMG Markets
The instrument range is limited: primarily currency pairs, indices, and commodities; with no stocks, cryptocurrencies, or a broad commodity selection, diversification falls short compared to competitors.
Pros
- 64 currency pairs
- Major indices and metals
Cons
- No CFDs on stocks
- No cryptocurrencies
- Limited commodity selection
IG
IG offers an extensive range of products and markets for trading, with an impressive selection of CFDs, options, and thematic baskets.
Trading Platforms
| Broker | GMG Markets | IG |
|---|---|---|
| Rating | 3.5/5 | 5/5 |
| Trading Platforms |
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GMG Markets
The sole available platform, MT5, offers rich functionality, but the lack of alternatives reduces flexibility.
Pros
- Fully featured MT5
- Desktop, web, and mobile applications
Cons
- No MT4, cTrader, TradingView
- Essentially a single platform option
IG
IG offers a variety of trading platforms, including MetaTrader 4, IG Trading Platform, and L2 Dealer, catering to traders of all levels.
Analytics
| Broker | GMG Markets | IG |
|---|---|---|
| Rating | 3/5 | 5/5 |
GMG Markets
Autochartist and a daily news feed provide basic analysis, but the lack of proprietary research and in-depth fundamental analysis diminishes overall utility.
Pros
- Complimentary Autochartist
- Market news
Cons
- No proprietary research
- Weak fundamental analysis
IG
IG provides an impressive array of research and analytical tools that will appeal to traders of any experience level.
Education
| Broker | GMG Markets | IG |
|---|---|---|
| Rating | 4/5 | 5/5 |
GMG Markets
The foundational materials (webinars, articles, videos) are sufficient for beginners, but for in-depth learning and advanced coursework, external resources may be needed.
Pros
- Regular free webinars
- Novice-oriented article base
- Recordings available 24/7
Cons
- No advanced courses
- No podcasts or multilingual programs
IG
IG offers high-quality and comprehensive educational materials suitable for traders of various levels.
Customer Support
| Broker | GMG Markets | IG |
|---|---|---|
| Rating | 4.5/5 | 5/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Facebook
LinkedIn
Twitter
YouTubeGMG Markets
The broker provides 24/5 support via chat, phone, and e-mail, with responses typically within minutes.
Pros
- Online chat and phone support 24/5
- Rapid response
- Competent representatives
Cons
- No weekend support
- Delays during peak demand
IG
IG provides fast and professional support.
