Exness vs IG: Head-to-Head Comparison
Choosing the right broker is a critical decision that impacts trading costs, execution, and overall trading experience. Here, we pit Exness against IG, two brokers with different operational models and target audiences, to give you a clear picture.
Spreads and Trading Costs
Spreads are often the primary concern for active traders. It's important to note that typical spreads can vary significantly based on account type, market volatility, and liquidity. Always check the broker's official website for the most up-to-date figures.
Exness is particularly well-regarded for its low spreads, especially on its ECN-like account types such where raw spreads can be exceptionally tight, often near zero pips for major currency pairs, but typically accompanied by a commission. IG, on the other hand, operates predominantly on a spread-only model for most of its retail accounts, with spreads that are generally competitive but may not reach the absolute lows offered by Exness's raw spread accounts.
Regulation and Trust
For UK traders, regulatory oversight is paramount. IG is authorised and regulated by the Financial Conduct Authority (FCA) in the UK, offering a high level of client protection, including segregated client funds and access to the Financial Services Compensation Scheme (FSCS). Exness, while regulated by various bodies globally (including the CySEC in Cyprus and the FSA in Seychelles), does not hold an FCA licence, meaning UK traders would be onboarded under a different regulatory entity, which may offer different protections. This is a crucial distinction for UK-based clients.
Trading Platforms
IG offers its award-winning proprietary trading platform, which is highly customisable, user-friendly, and packed with advanced charting tools, technical indicators, and integrated news. It's available across web, desktop, and mobile. IG also supports third-party platforms like ProRealTime.
Exness primarily offers the widely popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are staples in the forex industry, known for their versatility, expert advisors (EAs), and extensive charting capabilities. They also offer their own Exness Terminal web platform.
Market Range
IG boasts an exceptionally broad market offering, covering tens of thousands of instruments across forex, indices, commodities, shares, cryptocurrencies, and more. This makes it a strong contender for traders looking for diverse market access.
Exness also offers a comprehensive range of instruments, including forex, metals, cryptocurrencies, energies, stocks, and indices, though its overall market depth might be slightly less extensive than IG's for certain asset classes.
Comparison Table: Exness vs IG
| Feature | Exness | IG |
| :------------------ | :----------------------------------------------------------------------- | :------------------------------------------------------------------ |
| EUR/USD Spread | From 0.0 pips (plus commission) on Raw/Zero accounts; typical 1.0 pips+ on Standard (at time of writing — check broker site) | From 0.6 pips (typical, at time of writing — check broker site) |
| GBP/USD Spread | From 0.0 pips (plus commission) on Raw/Zero accounts; typical 1.5 pips+ on Standard (at time of writing — check broker site) | From 1.0 pips (typical, at time of writing — check broker site) |
| XAU/USD Spread | From 0.0 pips (plus commission) on Raw/Zero accounts; typical 10.0-20.0 cents on Standard (at time of writing — check broker site) | From 0.3 points (typical, at time of writing — check broker site) |
| Commission | Yes, on Raw Spread, Zero, and Pro accounts | Generally No (spread-only model for most retail accounts) |
| Min. Deposit | From $1 - $500 (varies by account type, at time of writing — check broker site) | £250 (recommended, at time of writing — check broker site) |
| Regulators | CySEC, FSA (Seychelles), FCA (institutional only) etc. | FCA (UK), BaFin (Germany), ASIC (Australia) etc. |
| Platforms | MT4, MT5, Exness Terminal | IG Platform (Web, Desktop, Mobile), ProRealTime |
*Please remember that CFD trading involves significant risk and can result in losses. Figures are typical, at time of writing — always check the broker's official site for the most current information.*
Verdict by Trader Type
For the Cost-Sensitive & High-Volume Trader
If your primary concern is the absolute lowest possible trading costs and you engage in high-volume trading, Exness with its Raw Spread or Zero accounts (which charge a commission but offer incredibly tight, often zero, raw spreads) might be more appealing. However, be mindful of the regulatory entity under which you are onboarded if you are a UK resident.
For the Regulated & All-Round Trader
For UK traders prioritising strong FCA regulation, comprehensive market access, and a sophisticated, proprietary trading platform, IG is generally the stronger choice. Its long-standing reputation and wide array of instruments make it suitable for traders seeking reliability and variety.
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Conclusion
The choice between Exness and IG ultimately depends on your individual trading priorities. Exness excels in offering extremely tight spreads for those willing to pay a commission, catering often to more experienced traders focused on cost optimisation. IG provides robust FCA regulation, an expansive market range, and an advanced trading platform, making it a solid choice for UK traders who value security and breadth of choice. Always conduct your own due diligence and consider your risk tolerance before committing to any broker. Remember, CFD trading carries a high level of risk and may not be suitable for all investors. You could lose more than your initial deposit.