Exness vs IG: Key Differences and Similarities
Exness and IG are both well-established brokers, but they approach the market with distinct models and focuses. Exness is known for its competitive spreads and a wide range of account types, often appealing to traders looking for high leverage (though this is restricted for UK regulated entities) and diverse instrument access. IG, on the other hand, is a globally recognised, publicly listed company, renowned for its extensive market offering, robust platform, and strong regulatory standing in multiple jurisdictions, including the UK.
Regulatory Environment and Security
For UK traders, regulation is paramount. IG is authorised and regulated by the Financial Conduct Authority (FCA) in the UK, offering clients the protection of the Financial Services Compensation Scheme (FSCS) up to £85,000. This provides a significant layer of security and peace of mind for UK residents. Exness holds licenses from various global regulators, including the CySEC in Cyprus and the FSCA in South Africa, among others. While Exness serves global clients, its primary UK facing entity operates under its international licenses, meaning UK clients might not have the same FCA protections as with IG. Always check the specific entity you are trading with.
Trading Platforms
Both brokers offer a variety of trading platforms to suit different needs.
#### IG's Platforms
IG provides its award-winning proprietary web platform, which is highly customisable and packed with advanced charting tools, technical indicators, and integrated news. They also offer mobile trading apps, access to MetaTrader 4 (MT4), and specialised platforms like L2 Dealer for direct market access (DMA) share dealing, and ProRealTime for advanced charting. This diverse platform offering caters to both beginners and experienced traders.
#### Exness's Platforms
Exness primarily focuses on the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are widely used in the forex industry for their reliability, automated trading capabilities (EAs), and extensive customisation options. They also offer a proprietary Exness Terminal web platform and a mobile app. The choice of MT4/MT5 makes Exness particularly attractive to traders familiar with these environments.
Account Types and Minimum Deposits
IG typically offers a single, comprehensive CFD trading account for retail clients in the UK, which simplifies the choice. Minimum deposit requirements can vary, but generally, IG offers flexibility to start with smaller amounts. Exness, conversely, offers a range of account types, including Standard, Standard Cent, Raw Spread, and Zero accounts, each with different pricing structures (spreads, commissions) and minimum deposit requirements. The Raw Spread and Zero accounts are particularly attractive for their ultra-low spreads, though they come with a commission.
Educational Resources and Customer Support
IG is well-regarded for its extensive educational resources, including webinars, seminars, trading courses, and detailed articles, catering to all levels of traders. Their customer support is available 24/5 through various channels. Exness also offers educational materials, market analysis, and 24/7 customer support in multiple languages, reflecting its global client base.
Comparison Table: Exness vs IG
| Feature | Exness | IG |
| :------------------ | :----------------------------------------------- | :---------------------------------------------------- |
| Spreads EUR/USD | Typical 0.3 pips (Raw Spread account) | Typical 0.6 pips (excluding commissions) |
| Spreads GBP/USD | Typical 0.5 pips (Raw Spread account) | Typical 0.9 pips (excluding commissions) |
| Spreads XAU/USD (Gold) | Typical 0.9 pips (Raw Spread account) | Typical 0.3-0.5 points (excluding commissions) |
| Commission | From $3.5 per lot per side (Raw Spread account) | From $0 (spread-only), or $0.15 per side for DMA |
| Min Deposit | From $1 (Standard Cent), $200 (Raw/Zero) | From £250 (recommended initial funding) |
| Regulators | CySEC, FSCA, FCA (limited activity) & others | FCA, ASIC, BaFin, MAS, CFTC & others (globally) |
| Platforms | MT4, MT5, Exness Terminal, Mobile App | IG Web Platform, Mobile App, MT4, ProRealTime, L2 Dealer |
*Figures are typical, at time of writing — check broker site for live pricing.*
*CFD trading involves significant risk and is not suitable for all investors. Losses can exceed deposits.*
Verdict by Trader Type
For Cost-Sensitive, High-Volume Traders
Traders prioritising the absolute lowest spreads, particularly on assets like gold, and who are comfortable with commission-based models, might find Exness's Raw Spread or Zero accounts more appealing. Their gold spreads can be exceptionally tight, though you must factor in the commission. This is often favoured by scalpers or automated trading strategies that execute many trades.
For UK-Regulated Security and Extensive Market Access
For UK traders where FCA regulation and local protections are a top priority, IG stands out. Its strong regulatory framework, coupled with an incredibly wide range of markets beyond just forex and gold (including shares, indices, commodities, and cryptos), and sophisticated proprietary platform, makes it an excellent choice for those seeking a comprehensive, secure, and feature-rich trading experience. While its gold spreads might appear slightly wider in comparison to Exness's raw accounts, the overall value proposition, especially for a diverse portfolio, is significant.
For MT4/MT5 Enthusiasts
If you are deeply ingrained in the MetaTrader ecosystem, both brokers support MT4, with Exness also offering MT5. However, Exness's core offering and account types are often designed around optimising performance on these platforms, which could be a deciding factor.
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Frequently Asked Questions (FAQs)
What is the typical gold spread (XAU/USD) with Exness and IG?
Exness, particularly on its Raw Spread account, can offer typical gold spreads (XAU/USD) around 0.9 pips, plus commission. IG typically offers gold spreads in the range of 0.3-0.5 points, excluding commissions, on its standard CFD account. These figures can fluctuate based on market conditions.
Is Exness regulated in the UK?
Exness holds various international regulations, including CySEC and FSCA. While it serves global clients, for UK residents, IG offers direct FCA regulation and associated protections like the FSCS, which may be a critical consideration for many.
Which broker offers lower overall trading costs for gold?
This depends on your trading volume and account type. Exness's Raw Spread account may offer very tight spreads on gold but charges a commission per lot. IG's costs are typically incorporated into the spread. High-volume traders might find the commission-plus-low-spread model of Exness more cost-effective, while lower-volume traders might prefer IG's all-in-spread model.
What are the main differences in trading platforms between Exness and IG?
Exness primarily focuses on MetaTrader 4 (MT4) and MetaTrader 5 (MT5), along with their proprietary Exness Terminal. IG offers its highly-rated proprietary web platform and mobile app, alongside MT4, ProRealTime, and L2 Dealer. IG's platform suite is generally more diverse and sophisticated for various types of market analysis and trading strategies.