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Firstrade vs IG Index

Firstrade or IG Index – which is better for UK traders 2024? Compare Firstrade and IG Index in this detailed breakdown of their platforms, features and fees.

Firstrade vs IG Index Comparison Table 2024
Firstrade	IG Index

4	4.7
Firstrade is ranked #67 among UK brokers.	IG Index is ranked #1 among CFD brokers.
Review	Review
Firstrade is a US-headquartered discount broker-dealer with authorization from the SEC. The company is also a member of FINRA/SIPC. With welcome bonuses, powerful tools and apps, plus commission-free trading, Firstrade Securities is a popular and top-tier online brokerage. It is also quick and easy to open a new account.	Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
	Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Pros
Enhanced stock trading environment with overnight trading and fractional shares added One of the first brokers to add AI-powered analysis through FirstradeGPT Excellent broker for budget-conscious traders with low OTC fees Highly trusted US-regulated brokerage and SIPC member	IG is amongst the best in terms of its range of instruments, which includes stocks, forex, indices, commodities, and cryptocurrencies, plus recently added US-listed futures and options, providing ample diversification opportunities. The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for trading, while IG has also added TradingView integration. The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our 'Best Trading App' award. As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust. IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis. The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met.
Cons
Firstrade focuses on stocks at the expense of forex, limiting diversification opportunities No demo/paper trading account found at over 90% of alternatives evaluated Customer support still needs work following testing with no 24/7 assistance Visa credit/debit card deposits and withdrawals are not accepted	Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges. While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients. IG has discontinued its swap-free account, reducing its appeal to Islamic traders. Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests. IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors.
Awards
Best for ETF & Active Investor Commission & Fees - 2019	Best Customer Service 2022 - Online Money Awards Best Spread Betting Provider 2022 - Online Money Awards Best Platform for the Active Trader 2022 - ADVFN International Financial Awards Best Multi Platform Provider 2022 - ADVFN International Financial Awards Best Finance App 2022 - ADVFN International Financial Awards
FCA Regulated
No List of FCA Regulated Brokers	Yes
Instruments
Stocks, ETFs, Options, Mutual Funds, Bonds, Cryptos, Fixed	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
Demo Account
No	Yes
Minimum Deposit
$0	$0
Payment Methods
ACH Transfer Cheque Wire Transfer	Credit Cards Debit Card Mastercard PayPal Visa Wire Transfer
Minimum Trade
$1	0.01 Lots
Regulator
SEC, FINRA	FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM
Mobile Apps
iOS & Android	iOS & Android
Trading App
	IG offers a superb all-round trading app. One of the pioneers of mobile trading, the application has been developed and refined over many years, meaning it is now among the best trading apps. Quick response, user-friendly layout, access to full charting and a stable and reliable application. It also offers guaranteed stops – an important risk management tool not available on many apps we’ve tested.
iOS App Rating
	4.6
Android App Rating
	4
Margin Trading
Yes	Yes
Margin Rate
4.50%	2.5%
MetaTrader 4
No	Yes
MetaTrader 5
No	No
cTrader
No	No
AlgoTrader
No	No
OmniTrader
No	No
TradingView
No	Yes
Autochartist
No	Yes
eSignal
No	No
Trading Central
Yes	Yes
STP Account
No	No
ECN Account
No	No
DMA Account
No	Yes
MAM Account
No	No
PAMM Account
No	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	No
Robo Advisor
No	Yes
Negative Balance Protection
No	Yes
Market Maker
Yes	Yes
P2P Trading
No	No
Spot Trading
No	Yes
Auto Trading
	Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime
Copy Trading
No	No
Social Trading
No	No
Trade Signals
	Yes
VPS Hosting
No	Yes
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	Yes
Custodial Account
Yes	No
Guaranteed Stop Loss
No	Yes
Inactivity Fee
$0	$12
Islamic Account
No	No
Account Currencies
USD	USD EUR GBP CAD AUD JPY ZAR SEK DKK CHF HKD SGD
Commodities
	Gold Copper Oil Palladium Silver Sugar Coffee Wheat Natural Gas Soybeans Orange Juice Nickel Steel Iron Precious Metals Aluminium Lithium Cannabis Lean Hogs Cattle
CFD
	IG offers a huge selection of 17,000+ CFDs, providing more trading opportunities than most CFD brokers. Traders can go long or short on popular markets like stocks, currencies, commodities and cryptos, while custom price alerts and the IG Academy continue to enhance the trading experience.
Leverage
	1:30 (Retail), 1:222 (Pro)
FTSE Spread
	1.0
GBPUSD Spread<
	0.9
Oil Spread
	2.8
Stocks Spread
$0 per trade	0.02
Forex
	IG offers an above-average suite of 80+ currency pairs on its proprietary web platform, mobile app or MetaTrader 4, with more advanced charts and forex analysis tools available on the ProRealTime software. Forex spreads are competitive based on tests, starting from 0.1 pips on majors like the EUR/USD.
Assets
	80+
GBPUSD Spread
	0.9
EURUSD Spread
	0.8
EURGBP Spread
	0.9
Currency Indices
	USD
Cryptocurrency
Take positions on dozens of leading cryptocurrencies with low fees and 24/7 investing. Traders need just $1 to start speculating on popular tokens like Bitcoin. Clients can also buy cryptos instantly in a few straightforward steps.	IG's modest selection of 11 crypto CFDs trails top crypto brokers like Vantage which offers 40+ tokens. That said, it stands out with its crypto index, which tracks the value of the top 10 digital currencies by market cap and provides a holistic way to speculate on the value of the crypto market.
Spread
Variable	Variable
Coins
ALGO AVAX BAT BTC BCH ADA LINK ATOM CRO CRV MANA DOGE ETH ETC FTM LTC LRC MATIC REN SHIB SOL XLM SUSHI GRT UNI YFI	BTC BCH LTC ETH ADA DOT DOGE LINK UNI XLM
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

Firstrade	IG Index
Review	Review
	Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
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