IC Markets vs IG (2026): Which Broker Is Better?

This comparison highlights the differences between a specialist broker and an institution, even though both operate in the same leveraged-trading environment. IC Markets, established in Sydney in 2007, focuses on executing forex and CFD orders at the lowest cost. Conversely, IG, founded in London in 1974, is a pioneer in online trading and has grown over the past 50 years into a publicly listed company with more than 800,000 active clients worldwide. It offers a wide range of products, including forex, CFDs, real share trading, spread betting, and spot crypto. Ultimately, the decision hinges on whether you prioritize lower trading costs or a broader, more refined selection of products.

IC Markets primarily competes on cost. Its raw spreads for EUR/USD typically range from 0.01 to 0.02 pips, resulting in an all-in cost (average spread plus round-turn commission on a standard lot) of about 0.62 pips on cTrader and 0.72 pips on MetaTrader. This contrasts with IG's average spread of 0.69 pips during the main session and about 0.98 pips over the entire day under its spread-only pricing model. Even IG's institutional-style Forex Direct DMA route, which requires a four-figure USD deposit, yields about 0.82 pips at its best commission tier. IC Markets' new Raw Trader Plus program further enhances benefits for high-volume traders by offering daily commission rebates, with effective commission rates as low as $1 per lot in its top-tier accounts. Around that pricing sits the full toolkit IG does not offer. IC Markets offers MT4, MT5, cTrader, and TradingView, along with copy trading options through cTrader Copy, Myfxbook, and ZuluTrade. It offers leverage up to 1:500 via its offshore entities and achieves execution times of about 35 milliseconds, with no restrictions on trading strategies. Additionally, overnight financing costs are lower, benefiting those holding leveraged positions over multiple days.

IG's territory spans the entire trading ecosystem. It is regulated by eight tier-one authorities and listed on the London Stock Exchange, a level of accountability no private ECN broker can match. Its range covers more than 17,000 markets, including real shares, tax-free spread betting for UK and Irish clients, and a growing spot crypto offering backed by ownership of the Australian exchange Independent Reserve. The in-house platform remains the benchmark for broker-built software, flanked by ProRealTime, L2 Dealer, MT4, and TradingView, with IG Client Sentiment data and the structured IG Academy behind it. IG also reaches US residents for forex through tastyfx, which IC Markets cannot do.

Regarding costs, IG is competitive overall, but IC Markets offers lower prices for active traders. IG's average 0.6-pip spreads perform well during liquid hours, and its professional rebates can reduce costs by 10 to 20 percent for high-volume traders, though spreads tend to widen outside peak hours. The Direct Market Access (DMA) option at IG doesn’t quite match IC Markets' Raw account. Additionally, financing charges are higher overnight. IC Markets' 2026 commission increases on non-USD currencies slightly narrow its edge for euro and Aussie accounts, though Raw Trader Plus rebates help offset much of these additional costs for high-volume traders.

Our evaluation shows that these two platforms target different trader profiles. Cost-conscious forex traders, scalpers, EA developers, copy traders, and those seeking high leverage will find IC Markets better suited to their needs. Conversely, our review of IG indicates that scalpers and copy traders may not find it ideal. IG appeals more to multi-asset traders, UK and Irish spread bettors, beginners seeking educational resources and a refined platform, and those who value the backing of a listed company over minimal spreads. Each broker excels in its own domain, and the only error would be to use one platform for the other's strengths.