IG vs XM Comparison: Which Is Better for Traders?
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Who is better - IG or XM?
Our pick: XM
Based on multiple factors - spreads and fees, available assets and instruments, execution quality, platform usability, support level, and educational resources - XM looks preferable to IG.
XM scored 4.7/5 and ranks 2 in our all Forex brokers list, whereas IG has 4.1/5 and ranks 38.
This is not financial advice. See the full comparison below.
Who is IG suitable for?
Broker IG.com is suitable for traders of all levels, offering reliability, convenience, a wide selection of instruments, and good customer support.
Who is XM suitable for?
Broker XM is suitable for both novice traders, thanks to educational materials, and experienced traders who value a variety of instruments.
Comparison Table of IG and XM
| Broker | IG | XM |
|---|---|---|
| Rating | 4.1/5 | 4.7/5 |
| Foundation Year | 1973 | 2009 |
| Regulated in Countries | United Kingdom, Bermuda, Germany, Netherlands, Italy, Spain, France, Sweden, Switzerland, United States, Australia, Japan, Singapore, South Africa, United Arab Emirates | Belize, Cyprus, Australia, South Africa, United Arab Emirates, Mauritius, Seychelles |
| Minimum Deposit |
|
|
| Spread | from 0.165 points | from 0 points |
| Max Leverage | 1:200 | 1:1000 |
| Trading Assets (CFDs) |
|
|
| Trading Platforms |
|
|
| Review | IG Review | XM Review |
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:
XM Review
XM broker offers a wide range of services, making it an attractive option for various traders. With over 1500 trading instruments, extensive educational resources, and numerous trading platforms, XM is ideally suited for beginners and experienced traders. Novice traders will particularly appreciate the accessible educational materials and low entry threshold, while professionals will find the competitive spreads and diversity of instruments appealing.
Pros and Cons of XM
Pros
- Wide range of trading assets.
- Extensive educational resources.
- Tight spreads on the Ultra Low account.
- Many analytical materials.
- Commission-free deposits and withdrawals.
Cons
- Inactivity fee.
- Standard account has a higher spread than the market average.
XM is in the top 10 of the following ratings:
Reliability
| Broker | IG | XM |
|---|---|---|
| Reliability | 5/5 | 5/5 |
| Foundation Year | 1973 | 2009 |
| Regulated in Countries | United Kingdom, Bermuda, Germany, Netherlands, Italy, Spain, France, Sweden, Switzerland, United States, Australia, Japan, Singapore, South Africa, United Arab Emirates | Belize, Cyprus, Australia, South Africa, United Arab Emirates, Mauritius, Seychelles |
| Regulators |
IG
The company is subject to numerous international regulators, ensuring a high degree of transparency.
XM
XM is a reliable and well-regulated broker with licenses in key jurisdictions. Segregated accounts, negative balance protection, and a compensation fund make it a safe choice for traders.
Pros
- Licenses from ASIC, CySEC, DFSA, and other regulators
- Segregation of client funds
- Negative balance protection and compensation scheme
Account Opening
| Broker | IG | XM |
|---|---|---|
| Account Opening | 4/5 | 5/5 |
| Minimum Deposit |
|
|
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.
XM
Opening an account with XM is fast and convenient: registration takes only a few minutes, the interface is intuitive, and document requirements are standard.
Pros
- Fast online registration
- Clear and straightforward KYC process
- Ability to open demo and additional accounts
Account Types
| Broker | IG | XM |
|---|---|---|
| Account Types | 2.5/5 | 4.5/5 |
| Trading Accounts |
|
|
| Minimum Deposit |
|
|
| Spread | from 0.165 points | from 0 points |
| Max Leverage | 1:200 | 1:1000 |
| Trading Assets (CFDs) |
|
|
| Trading Platforms |
|
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| Demo Account | ||
| Swap-free Account |
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.
XM
XM broker offers various account types to satisfy the needs of different traders, from beginners to professionals.
Pros
- A wide choice of accounts for different experience levels
- Flexible trading conditions (leverage, deposit)
- Specialized accounts for stock trading
Cons
- No ECN or STP accounts
Commissions
| Broker | IG | XM |
|---|---|---|
| Commissions | 3/5 | 4/5 |
| Spread | from 0.165 points | from 0 points |
| Average Spread (EURUSD) | 1.1 | 1.7 |
| Commission per Lot | $6.48 |
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.
XM
XM’s fees can be considered competitive: the Ultra Low account offers reduced spreads, while the absence of deposit and withdrawal fees lowers overall costs. With active trading, the conditions are attractive.
Pros
- Reduced spreads on the Ultra Low account
- No deposit or withdrawal fees
- Ability to lower costs through rebates
Cons
- Above-average spreads on the Standard account
- Inactivity fee applies
Deposit and Withdrawal
| Broker | IG | XM |
|---|---|---|
| Rating | 3.7/5 | 4.5/5 |
| Account Funding Methods |
|
|
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.
XM
The broker offers convenient deposit and withdrawal methods with zero commission but lacks cryptocurrency support.
Pros
- Zero commission for deposits and withdrawals
- A minimum limit of only 5 dollars
- Quick processing of withdrawal requests
Cons
- No cryptocurrency deposit/withdrawal options
Markets and Products
| Broker | IG | XM |
|---|---|---|
| Markets and Products | 5/5 | 5/5 |
| Forex | 99 | 55 |
| Precious Metals | 11 | 3 |
| Energy Carriers | 9 | 3 |
| Soft Commodities | 20 | 8 |
| Indices | 46 | 50 |
| Stocks | 13000 | 1307 |
| ETF | 5400 | - |
| Bonds | 19 | - |
| Cryptocurrency | 15 | 58 |
IG
IG offers an extensive range of products and markets for trading, with an impressive selection of CFDs, options, and thematic baskets.
XM
The broker offers a wide range of markets and products, including over 1500 items.
Pros
- A large selection of currency pairs
- Access to CFDs on various assets
- The ability to trade cryptocurrencies
Trading Platforms
| Broker | IG | XM |
|---|---|---|
| Rating | 5/5 | 4.5/5 |
| Trading Platforms |
|
|
IG
IG offers a variety of trading platforms, including MetaTrader 4, IG Trading Platform, and L2 Dealer, catering to traders of all levels.
XM
XM offers various versions of MT4 and MT5 platforms, providing flexibility in trading.
Pros
- Availability on various devices (PC, Mac, mobile)
- MultiTerminal for managing multiple accounts
- WebTrader for browser-based trading
Cons
- No alternatives to MetaTrader
Analytics
| Broker | IG | XM |
|---|---|---|
| Rating | 5/5 | 5/5 |
IG
IG provides an impressive array of research and analytical tools that will appeal to traders of any experience level.
XM
XM’s analytics are well structured and deeply integrated into the platform. Trading Central, market sentiment tools, calendars, and calculators make them useful for both active trading and careful pre-trade analysis.
Pros
- Trading Central integration and XM in-house analysis
- Economic calendar, corporate events, and calculators
- Clear market sentiment tools
Education
| Broker | IG | XM |
|---|---|---|
| Rating | 5/5 | 5/5 |
IG
IG offers high-quality and comprehensive educational materials suitable for traders of various levels.
XM
XM's educational materials are extensive and varied, suitable for all experience levels.
Pros
- A wide range of materials: webinars, videos, seminars
- Available in different languages
- Daily online sessions with experts
Customer Support
| Broker | IG | XM |
|---|---|---|
| Rating | 5/5 | 5/5 |
| Email Support |
|
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| Hotline Phones |
|
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| Social Media |
Twitter
Facebook
LinkedIn
YouTube
InstagramIG
IG provides fast and professional support.
XM
XM’s customer support operates reliably 24/7, offering multiple contact channels and multilingual assistance. Most issues are resolved quickly and professionally, which supports the broker’s high service rating.
Pros
- 24/7 support via chat, email, phone, and messengers
- Multilingual assistance
- Strong knowledge of products and procedures
Comparisons of IG and XM with other brokers
Conclusion
XM stands out as the better overall pick, while IG trails on aggregate criteria.
XM scored 4.7/5 and ranks 2 in our rating; IG has 4.1/5 and ranks 38.
We explain the reasons above in detail — fees, platforms, reliability, support, and more.
FAQ
Which broker is better: IG or XM?
XM comes out ahead by overall rank (score 4.7/5, position 2) versus IG (score 4.1/5, position 38).
Which broker is better for beginners: IG or XM?
XM is often a smoother start thanks to simpler onboarding and stronger baseline metrics. Still, your tools and budget should drive the final choice.
Who has lower typical trading costs (spreads/commissions) — IG or XM?
It depends on the instrument and account type. Compare the live conditions in the “Commissions” section on this page — we break down the nuances category by category.
What trading platforms are available with IG and XM?
IG: MetaTrader 4, IG Trading Platform, L2 Dealer. XM: MetaTrader 5, MetaTrader 4, WebTrader. See the “Platforms” section for details and selection tips.
What markets can you trade with IG and XM?
IG: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, ETF, Bonds, Cryptocurrency. XM: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, Cryptocurrency. Full lists and differences are in the “Markets” section.
What account types are offered by IG and XM?
IG: CFD, DMA. XM: Standard, Micro, XM Ultra Low, Shares. See “Account Types” for a side-by-side comparison.
What deposit and withdrawal methods are supported by IG and XM?
IG: PayPal, Bank Transfer, Credit and Debit Cards. XM: Neteller, Skrill, SticPay, Swift, Visa, Mastercard. Check method-specific fees/settlement times.
Which broker is safer — IG or XM — and how was this assessed?
We consider regulation, corporate transparency, fund protection, and incident history. See the “Reliability” section for our findings.
