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IG vs Interactive Brokers 2023

StockBrokers.com

Written by StockBrokers.com

April 19, 2023

Is IG better than Interactive Brokers? After scoring the best share dealing accounts across 46 different variables, our analysis finds that IG is better than Interactive Brokers. IG stands out as a top U.K. broker, thanks largely to its excellent online trading platform. Strong functionality comes with industry-standard commission rates and fees, a huge variety of trading tools, and user-friendly mobile apps.

Select Brokers

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  • check_box_outline_blankcheck_boxAJ Bell
  • check_box_outline_blankcheck_boxBarclays
  • check_box_outline_blankcheck_boxCapital.com
  • check_box_outline_blankcheck_boxCMC Invest
  • check_box_outline_blankcheck_boxDEGIRO
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxFineco Bank
  • check_box_outline_blankcheck_boxFreetrade
  • check_box_outline_blankcheck_boxHalifax
  • check_box_outline_blankcheck_boxHargreaves Lansdown
  • check_box_outline_blankcheck_boxIG
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxInteractive Investor
  • check_box_outline_blankcheck_boxLloyds Bank
  • check_box_outline_blankcheck_boxSaxo Markets
  • check_box_outline_blankcheck_boxTrading 212

Compare

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Overall Rating IG Interactive Brokers
Overall Rating info 5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Offering of Investments 4.5/5 Stars 4.5/5 Stars
Mobile Trading 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 4.5/5 Stars 4.5/5 Stars
Research 4/5 Stars 5/5 Stars
Ease of Use 5/5 Stars 4/5 Stars
Education 5/5 Stars 3.5/5 Stars
Review IG Review Interactive Brokers Review
Winner check_circle
Investments IG Interactive Brokers
ISA info Yes Yes
SIPP info Yes Yes
Share Trading info Yes Yes
CFD Trading info Yes Yes
Funds info No Yes
ETFs info Yes Yes
Bonds - Corporate info No Yes
Bonds - Government (Gilts) info No Yes
Investment Trusts info Yes Yes
Spread Betting info Yes Yes
Crypto Trading info No Yes
Advisor Services info No No
Trading Fees IG Interactive Brokers
Minimum Deposit info £0.0 £0.0
Share Trading: 0-9 Deals/ Month info £3 to £8 £3
Share Trading: 10-19 Deals/ Month info £3 £3
Share Trading: 20+ Deals/ Month info £3 £3
5 trades per year (£30k portfolio) info £30-£40 £15
12 trades per year (£30k portfolio) info £96 £36
36 trades per year (£30k portfolio) info £108 £108
120 trades per year (£30k portfolio) info £360 £360
3 fund trades per year (£30k portfolio) info £24 £24.75
Annual Custody Fee: £0 - £250,000 info £96 (can reduce by trading) 0%
Annual Custody Fee: £250K-£500K info £96 0%
Annual Custody Fee: £500,000 - £1m info £96 0%
Annual Custody Fee: £1m and over info £96 0%
Bonds - Corporate - Fee info N/A 0.1% (for <10,000 EUR) 0.025% (for >10,000 EUR)
Bonds - Government (Gilts) - Fee info N/A 0.1% (2 euro min)
ETFs - Fee info £8 £3
Investment Trusts - Fee info £8 £4.95
Telephone Dealing Fee info £40-£50 30 USD
Platforms & Tools IG Interactive Brokers
Web Platform info Yes Yes
iPhone App info Yes Yes
Android App info Yes Yes
Stock Alerts info Yes Yes
Charting - Indicators / Studies info 33 98
Charting - Drawing Tools info 19 84
Charting - Notes info Yes Yes
Charting - Display Corporate Events info Yes Yes
Charting - Stock Overlays info Yes Yes
Charting - Index Overlays info Yes Yes
Research IG Interactive Brokers
Research - Shares info Yes Yes
Research - CFDs info Yes Yes
Research - Funds info Yes Yes
Fund Research - Research Reports info No No
Research - ETFs info Yes Yes
Research - Bonds info No Yes
Portfolio Allocation Breakdown info No Yes
Education IG Interactive Brokers
Education (Share Trading) info Yes Yes
Education (Funds) info Yes No
Education (Retirement) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Overall Summary IG Interactive Brokers
Overall Rating info 5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Offering of Investments 4.5/5 Stars 4.5/5 Stars
Mobile Trading 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 4.5/5 Stars 4.5/5 Stars
Research 4/5 Stars 5/5 Stars
Ease of Use 5/5 Stars 4/5 Stars
Education 5/5 Stars 3.5/5 Stars
Review IG Review Interactive Brokers Review
Winner check_circle
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Comparing online share dealing platforms side by side is no small task. For our 2022 review of U.K. brokers, nearly 600 data points were collected over a 10-week period and used to score each broker. Let’s compare IG and Interactive Brokers.

IG vs Interactive Brokers Comparison

For our 2022 Review, we assessed the best trading platforms in the UK for online share dealing. Let's compare IG vs Interactive Brokers.

Is IG a good broker?

IG stands out as a top U.K. broker, thanks largely to its excellent online trading platform. Strong functionality comes with industry-standard commission rates and fees, a huge variety of trading tools, and user-friendly mobile apps.

Is Interactive Brokers a good broker?

Professional traders are brilliantly serviced with the tools and capabilities of Interactive Brokers. Less-experienced traders benefit from the low commissions and excellent research available in the web-based Client Portal platform.

Which broker is less expensive?

Alongside the cost per trade, most UK online brokers also charge a monthly, quarterly, or annual management fee, which varies based on the account type and balance. Based on our thorough review, Interactive Brokers offers better pricing than IG for share dealing.

Assuming a £30,000 portfolio size, here are the total annual costs for share dealing with both brokers, given different monthly activity scenarios.

5 trades per year - IG would cost £30-£40 per year, while Interactive Brokers would cost £15 per year.

12 trades per year - IG would cost £96 per year, while Interactive Brokers would cost £36 per year.

36 trades per year - IG would cost £108 per year, while Interactive Brokers would cost £108 per year.

120 trades per year - IG would cost £360 per year, while Interactive Brokers would cost £360 per year.

3 fund trades per year - IG would cost £0.0 per year, while Interactive Brokers would cost £0.0 per year.

How do IG and Interactive Brokers compare in terms of minimum deposits required?

IG requires a minimum deposit of £0.0, while Interactive Brokers requires a minimum deposit of £0.0. From our testing we found for accounts between £0 - £250,000 IG charges annual custody fees of £96 (can reduce by trading), while Interactive Brokers charges annual custody fees of 0%.

Which broker offers a wider range of investment options?

IG offers investors access to ISA, SIPP, Share Trading, CFD Trading, ETFs, Investment Trusts and Spread Betting, while Interactive Brokers offers investors access to ISA, SIPP, Share Trading, CFD Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts), Investment Trusts, Spread Betting and Crypto Trading. Neither have Advisor Services. Investing encompasses a wide variety of asset classes, so finding a broker that offers every investment type you are interested in is important.

Do IG and Interactive Brokers offer ISA or SIPP accounts?

Self-invested personal pensions (SIPPs) and individual savings accounts (ISAs) are tax-advantaged savings accounts that are an important tool for many individual investors. You can read more about how these accounts operate at Gov.UK: Click here for SIPP information and here for ISA information. Our analysis finds that Both IG and Interactive Brokers offer SIPP and ISA accounts.

Do IG and Interactive Brokers offer cryptocurrency?

In our analysis of top brokers for share dealing in the U.K., we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum, which is still a somewhat rare offering amongst major U.K. brokers. Our review finds that neither IG and Interactive Brokers offer crypto investing.

Which broker offers better research?

Our testing concluded that Interactive Brokers is better for research than IG. Interactive Brokers offers more research options, including research reports, articles, and analyst ratings.

Which trading platform is better?

To compare the trading platforms of both IG and Interactive Brokers, we tested each broker's website, trading platform, trading tools and stock trading app. All features compared, our analysis finds that Interactive Brokers offers a better share dealing platform and Interactive Brokers offers a better stock app for mobile trading.

Do IG and Interactive Brokers offer educational resources?

Educational offerings are of particular importance to those who are newer to investing, and we examine the availability of several different types of educational materials in our analysis. Our research finds that IG offers traders access to Client Webinars, Client Webinars (Archived), Education (Share Trading), Education (Funds) and Education (Retirement), while Interactive Brokers offers access to Client Webinars, Client Webinars (Archived), Education (Share Trading) and Education (Retirement).

Overall winner: IG

Read Next: Best UK Trading Platforms 2022


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