IG is one of the largest forex brokers in the world with low spreads and a range of trading platforms while easyMarkets has fixed spreads and negative balance protection, among others. Our easyMarkets vs IC comparison reviews the key features the brokers offer.
Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site.
Our full comparison covers the 10 most important trading factors. Here are five key differences:
| Minimum Spreads | EUR/USD | USD/JPY | AUD/USD | GBP/USD |
|---|---|---|---|---|
| easyMarkets on their proprietary platform (fixed) | 1.2 | 1.5 | 1.5 | 1.7 |
| easyMarket on MT4 (fixed) | 0.9 | 1 | 1.2 | 1.3 |
| IG Markets Standard Account (variable) | 0.6 | 0.7 | 0.6 | 0.9 |
Comparing the spreads of these market makers, one can see that IG (formerly IG Markets) spreads are more narrow. While low spreads can be a good reason to choose a forex broker, it helps to understand why the spreads differ for each broker.
Fixed vs Variable Spreads
Variable or floating spreads are spreads that do not have locked ‘ask’ and ‘bid’ prices. These quotes will vary depending on the supply and demand for the currency pair.
Fixed spreads are spreads that do not change. The difference between the changing ‘bid’ and ‘ask’ price is always the same. These spreads don’t typically change except in an extremely volatile market.
IG uses variable spreads for most of its currency pairs. So, while minimum spreads will generally be lower than easyMarkets (as shown in our comparison), they can potentially also be higher.
easyMarkets differs from IG because they use fixed spreads. This broker is unusual because, historically, they have not widened their spreads regardless of market conditions. Even in Nov 2015, when the Swiss National Bank unexpectedly stopped keeping the Swiss Franc at exchange rates in line with the Euro, resulting in a 40% fall in the valuation of the euro to the franc or a drop in 2000 pips for CHF/EUR easyMarkets held their fixed rates.
If you want the tightest available spreads, then consider Pepperstone, which offers Electronic Communication Network (ECN) no dealing desk rather than Market Maker dealing desk type trading.
Inclusions in your trade
easyMarkets have several notable inclusions built into their spreads that are included for all trades that IG do not.
| Trade Inclusions | easyMarkets | IG Markets |
|---|---|---|
| Guaranteed Stop Loss | Complementary (not with MT4) | Optional with fee |
| Guaranteed Take Profit | Complementary (not included MT4) | Optional with fee |
| Guaranteed Negative Balance Protection | Complementary | No |
| Price Freeze | Freeze Rate - complementary | Points Through Current with fee |
| dealCancellation | Yes - with fee | No |
| Rolling / Overnight Fees | No (included in spread) | Yes (if you hold you position overnight) |
| Margin Requirements | None | Required |
| Slippage | No Slippage guarantee (not with MT4) | Can occur resulting in your position being rejected |
| Forwards / Hedging | Permitted | Only with MT4 platform |
See our risk management comparison to understand each of these risk management tools.
Verdict
IG might be the broker for you if:
Trader types that might fit this profile are those with some trading experience but don’t consider themselves experts. It can also benefit traders who know their trading climate is likely to occasionally volatile.
easyMarkets might be the broker for you if:
easyMarkets offers one of the more complete suites of risk management features in the online broker market. The great thing is many of these risk management tools are included with all your trades. This explains why the spreads are wider when we compare them with IG. If you are new to trading and want to manage your trading risks or are trading in a very volatile climate, then easyMarkets might suit your broker requirements.
Open a demo accountVisit easyMarkets
easyMarkets Trading Platform
This broker offers a choice of two platforms. This is their proprietary platform and MetaTrader 4.
easyMarkets Platform – Web and Mobile
The main reason to choose the easyMarkets trading platform is to access the exclusive risk management tools easyMarkets offers. While this platform covers all the basic and necessary features a broker would expect from any platform, nowhere else can you find ‘dealCancellation’ and ‘Freeze Rate.’
Key features of their platform include:
MetaTrader 4 (MT4)
MetaQuest makes the two platforms we recommend. These are MetaTrader 4 and 5. At this stage, easyMarkets and IG only offer MetaTrader 4. More brokers offer MT4 than any other platform, so it is no surprise this platform is the most popular with traders as a result.
MT4 is well known for its interface, which is easy to use, tools that can assist with fast execution, its range of chart options and ability to work with Expert Advisors (EAs).
IG Trading Platforms
Below is a summary of the platforms that IG provides.
IG offers a choice of more platforms than most other brokers offer. IG proprietary trading platform is available for web and browser. The platform’s most notable feature is its ability to offer basic risk management features such as stop loss and profit limits. This platform is an award-winning platform and offers a great collection of charts and indicators; however, it does not offer ‘Expert Advisors’.
If you wish to use EAs, then consider MetaTrader 4. If you wish to access more charts, then you may opt to use ProRealTime. This is available free, provided you meet minimum trade requirements each month. Given you can use ProRealTime with MT4, there is little reason to use ProRealTime on its own. The last platform, L2 Dealer, is only for professional traders with a Forex Direct account. So, it is unlikely to be a consideration for most traders.
Verdict: Which platform you go with is mostly a case of personal preference and what tools you want access to. Both brokers offer MetaTrader 4, which is the platform we recommend, so it simply comes down to which broker you prefer. On the other hand, if you desire risk management tools, then you need to decide which risk features you desire and choose the appropriate platform.
easyMarkets
easyMarkets offers a choice of different accounts. These choices will vary depending on if you are in Europe or outside of Europe.
Clients in the UK and Europe
If you are a retail client from the UK or Europe, then you only have one account to choose from. This is their VIP account.
Clients outside the UK and Europe
If you are outside the UK and Europe, then you have a choice of accounts to choose from. The higher your minimum deposit, the better your spreads will be.
IG
IG, on the other hand, offers basic types of accounts: Standard and Professional. This review is only focused on the Standard as Professional has restrictive requirements for eligibility, such as a minimum of $2.5 million in net assets.
The Standard Account offers the following:
When it comes to the overall trading experience and ease of use, both easyMarkets and IG have their unique strengths. From our in-depth analysis of the website and our own hands-on testing, we’ve observed some distinct features that set each broker apart.
Verdict: That said, while both brokers offer a commendable trading experience, the choice ultimately boils down to individual preferences. Some might lean towards easyMarkets for its simplicity, while others might appreciate the advanced features IG brings to the table. Whatever your choice, rest assured that both platforms are designed to offer a seamless trading journey.
easyMarkets Trust Score
IG Group Trust Score
The ability to use leverage is important when it comes to trade. Currency prices typically only change incrementally on a day-to-day basis, which can make it difficult to make a significant profit. The ability to use leverage to trade a large number of assets will allow you to amplify your profits and, therefore, make trading forex worthwhile.
As leverage means taking on debt, it is important to understand the risks with high leverage and speculative trading and, therefore, be responsible when you trade. If you have researched and tested your trading strategies and are confident in positive outcomes, then leverage is a very useful tool.
Each broker is limited by the maximum leverage allowed by their subsidiaries’ regulators. This means different maximum leverage may apply for different subsidiaries of the broker.
easyMarkets Leverage
Leverage with easyMarkets will vary depending on which regulator applies to your region and which trading platform you are using. Retail clients in the UK and Europe will find they have more restrictive leverage than clients in the UK and Europe.
Clients from the UK and Europe leverage
easyMarkets is regulated by CySEC or the Cyprus Securities Exchange Commission in the UK and Europe. Retail clients can trade with a maximum leverage of 30:1.
If your trading portfolio exceeds €500,000 and you have averaged at least 10 trades for each quarter over the previous 12 months, then you can apply for a professional client account. A professional account means you will have more generous leverage.
easyMarkets clients outside the UK and Europe
If you are an easyMarkets client from outside the UK or Europe, then easyMarkets apply protections in accordance with ASIC regulations requirements, which is the Australian Securities and Investments Commission or the Financial Services Authority of Seychelles (FSA)
The below table summarises the leverage for each region for easyMarkets
| Instrument Traded | easyMarkets Leverage |
|---|---|
| Forex (max) | 30:1 |
| Index CFDs (max) | 20:1 |
| Commodities (max) | 10:1 |
| Cryptocurrency (max) | 2:1 |
| Shares | 5:1 |
| Metals | 20:1 |
IG Leverage
Like with easyMarkets, IG leverage will vary depending on where you join from as regulation differs for different countries.
| Market | Retail Leverage (Australia, New Zealand, South Africa and most other regions) | Professional Leverage (Australia, New Zealand, South Africa and most other regions) | Retail Leverage (Europe and the UK) | Professional Leverage (Europe and the UK) | Leverage (Singapore) | Professional Leverage (Singapore) | Leverage (Dubai) | Professional Leverage (Dubai) |
|---|---|---|---|---|---|---|---|---|
| Forex | 1:30 | 1:250 | 1:30 | 1:222 | 1:20 | 1:50 | 1:50 | 1:222 |
| Indices (major) | 1:20 | 1:250 | 1:20 | 1:222 | 1:20 | 1:20 | 1:50 | 1:222 |
| Shares CFD | 1:5 | 1:25 | 1:5 | 1:22 | 1:10 | 1:10 | 1:10 | 1:22 |
| Commodities | Energies 1:10 Gold 1:20 Other metals 1:19 Softs - 1:10 |
Energies 1:28 - 1:36 Other metals 1:23 to 1:63 Softs - 1:36 to 1:63 |
1:20 | 1:222 | 1:5 | 1:5 | ||
| Cryptocurrency CFD | 1:2 | 1:40 | 1:2 | 1:22 | 1:2 | 1:2 | 1:10 | 1:22 |
IG has the following subsidiaries and regulators
Note: IG Markets Ltd, which is an IG UK subsidiary, cannot offer cryptocurrency due to FCA regulations.
| easyMarkets | IG Group | |
|---|---|---|
| Tier 1 Regulation | ASIC (Australia) CYSEC (Cyprus) |
ASIC (Australia) FCA (UK) BaFin (Germany) FINMA (Switzerland) NFA/CFTC (USA) CYSEC (Cyprus) MAS (Singapore) FMA (New Zealand) |
| Tier 2 Regulation | JFSA (Japan) DFSA (Dubai) |
|
| Tier 3 Regulation | FSC-BVI FSA-S (Seychelles) |
BMA (Bermuda) FSCA (South Africa) |
easyMarkets offers a small range of CFDs in addition to forex. These include cryptocurrencies, metals, commodities, indices and shares.
IG, on the other hand, offer a far more extensive range of CFDs. Not only are there more asset classes to choose from but there are more choices within the asset class. Asset classes include everything easyMarkets offers plus shares, bonds, options, IPO, interest rates, sectors, Exchange-traded funds and exchange-traded products.
Other markets IG offers include:
Verdict: IG is an all-in-one broker that aims to make it easy for traders to trade in all sorts of derivatives. easyMarkets is primarily a forex broker who also offers some other CFD options.
One thing UK traders should be aware of when choosing IG is that they cannot offer cryptocurrencies to UK traders. This is due to FCA regulations, which do not allow this type of product for trade. easyMarkets use CySEC as their regulator, so do allow crypto trading.
Education is a cornerstone for any trader, whether you’re just starting out or looking to refine your skills. Both easyMarkets and IG understand this and have invested heavily in their educational resources. Let’s dive into what each broker offers:
Verdict: Based on our team’s scoring and the available data, it’s a close call.
Customer Support – IG
IG offers customer support nearly 24/7. The hours on Saturdays end at 8 am and recommence at 3 pm (AEDT). IG support team are available via phone, email, live chat and, interestingly, via Twitter. Support can be found in 14 different countries, including Australia.
IG also has a peer support forum, which allows the IG community to support each other with all things trading.
Customer Service
Most IG learning tools can be found through their IG Academy. The Academy includes the following:
Other education tools include the following:
IG has a demo trading account that gives users access to $20,000 in virtual funds. Their account does have a few restrictions; for example, you will not experience ‘slippage’, and trades will not be rejected due to size or price.
Customer Support – easyMarkets
easyMarkets offers customer support 24/5, with the Australian week commencing at 8 a.m. on Mondays. The support team is located in Australia (Sydney) and Cyprus. You can reach the support team through several ‘unique features such as Messenger, Viber and WhatsApp, in addition to the usual live chat, email and fax.
Customer Service
easyMarkets also offers a good range of educational material. Available features include:
easyMarkets also provides market analysis. Here you can find the following:
Lastly, easyMarkets gives you access to a demo account. Their demo account does not expire and includes $15,000 in virtual currency. The demo account includes access to the risk management tools easyMarkets offers.
Verdict: Both brokers offer great customer support and customer service. We like the IG academy learning platform as it is well organised. We also like the range of tools available to get the information we need on demand.
easyMarkets
This broker does not charge any fees for deposits or withdrawals, regardless of the transfer method you use. All their available credit/debit card, online banking and eWallets are free to use. Deposits are instant when using cards and can take 1-5 working days when using online banking tools.
IG
Unlike easyMarkets, IG does charge to use some of their funding services. Using a Visa card will result in a 1% fee while using MasterCard will cost you 0.5%. PayPal will also result in a fee of 1%. When using any of these services, you must deposit a minimum of $500 each time you deposit. BPAY and Bank Transfer are free and have no minimum deposits.
Verdict: easyMarkets easily wins this area simply because they do not charge for you to deposit or withdraw. We also like that they have no minimum funding requirements.
For many traders, especially those just starting out, the minimum deposit can be a significant factor when choosing a broker. It’s not just about the amount but also about the flexibility and options provided by the broker. Both easyMarkets and IG cater to a wide range of traders, from beginners to professionals, and their minimum deposit requirements reflect this.
| Broker | Minimum Deposit |
|---|---|
| easyMarkets | $200 |
| IG | $0 |
While both brokers offer competitive minimum deposit amounts, it’s essential to consider the overall trading experience, platform features, and customer support. A lower minimum deposit can be an excellent way for new traders to dip their toes in the trading world without committing a significant amount of capital.
Verdict: Based on our team’s testing and the available data, IG offers a lower minimum deposit, making it a more accessible choice for traders looking to start with a smaller investment.
IG Group is the winner because of its comprehensive offerings, user-friendly platform, and competitive pricing.
The table below summarises the key information leading to this verdict:
| Criteria | easyMarkets | IG |
|---|---|---|
| Lowest Spreads And Fees | ✅ | ❌ |
| Better Trading Platform | ✅ | ✅ |
| Superior Accounts And Features | ✅ | ✅ |
| Best Trading Experience And Ease | ✅ | ✅ |
| Stronger Trust And Regulation | ❌ | ✅ |
| Top Product Range And CFD Markets | ❌ | ✅ |
| Superior Educational Resources | ✅ | ✅ |
| Superior Customer Service | ❌ | ✅ |
| Better Funding Options | ✅ | ❌ |
| Lower Minimum Deposit | ❌ | ✅ |
easyMarkets is the ideal choice for beginner traders due to its intuitive platform and educational resources.
IG Group stands out for experienced traders because of its advanced tools and diverse product range.
easyMarkets generally offers lower costs. They have competitive spreads and fewer hidden fees. For more detailed spread data, you can check out our Lowest Spread Forex Broker UK page.
Both easyMarkets and IG support MetaTrader 4. However, easyMarkets provides a more seamless integration with MT4. For a list of top MT4 brokers, visit our Best MetaTrader 4 Brokers comprehensive guide.
easyMarkets offers a robust social trading platform. Social trading allows traders to follow and copy the trades of professionals. For more on social trading platforms, see our Best Copy Trading Platforms page.
Yes, IG offers spread betting, a tax-efficient way of trading in the UK. For more on the best spread betting brokers, visit the Best Spread Betting Brokers In UK page.
In my opinion, easyMarkets is superior for Australian Forex traders. Both brokers are ASIC regulated, but easyMarkets was founded in Australia, giving it a home advantage. For a comprehensive list, check the Australian Forex brokers.
For UK traders, I personally lean towards IG. They are FCA-regulated and have a strong presence in the UK market. For a detailed comparison of UK Forex brokers, you can visit the Forex Broker UK 2024 Analysis.
Ask an Expert