Choosing the right broker is essential for traders looking to get the best out of their investment. Two popular names that often come up in discussions are Exness and IG. While both platforms have a good reputation in the industry, they cater to different needs depending on the trader’s level, trading style, and preferences.
In this blog post, we will compare Exness and IG based on various factors such as trading platforms, fees, regulation, customer support, and more. This detailed comparison will help you decide which broker suits your trading needs best.
This table provides a quick glance at the key differences between Exness and IG.
| Feature | Exness | IG |
|---|---|---|
| Founded | 2008 | 1974 |
| Regulation | CySEC, FCA, FSCA | FCA, ASIC, CFTC |
| Platforms | MT4, MT5, Exness Trader App | Proprietary, MT4, ProRealTime |
| Spreads | Tight (from 0.0 pips on Raw Spread) | Competitive but varies by account |
| Commission | No commission (Standard Account) | May apply on certain accounts |
| Assets | 100+ instruments | 17,000+ instruments |
| Customer Support | 24/7 via chat, email, phone | 24/5 via chat, email, phone |
| Minimum Deposit | $10 (Standard Account) | No fixed minimum (varies by region) |
| Inactivity Fee | No | Yes (after 2 years inactivity) |
| Best For | Low-cost, beginner-friendly | Broad asset range, advanced traders |
Overview of Exness and IG
Exness
Exness is a Cyprus-based broker founded in 2008. It has gained popularity for offering tight spreads, fast withdrawals, and a user-friendly platform. It caters to both beginner and experienced traders, providing various tools to make the trading experience smoother. Exness has millions of users globally, offering a wide range of instruments, including forex, metals, cryptocurrencies, stocks, and more.
IG
IG is a UK-based broker founded in 1974, making it one of the most established brokers in the world. IG is well-known for its comprehensive educational resources, reliable platforms, and broad asset offerings. It’s popular among both retail and institutional traders. With IG, traders can access a wide range of markets including forex, indices, commodities, and stocks. IG is often regarded for its focus on transparency and client protection.
Regulation and Security
When it comes to online trading, regulation and security are top priorities. Let’s compare how well-regulated Exness and IG are.
Exness Regulation
Exness is regulated by several respected authorities, including the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, and the Financial Sector Conduct Authority (FSCA) in South Africa. These regulators ensure that Exness adheres to strict financial standards. This level of regulation gives traders peace of mind that their funds are protected.
IG Regulation
IG also holds a strong regulatory framework. It is regulated by top-tier authorities such as the FCA in the UK, the Australian Securities and Investments Commission (ASIC), and the Commodity Futures Trading Commission (CFTC) in the United States. IG’s global regulation ensures that it offers secure trading conditions across various jurisdictions.
Verdict: Both brokers are highly regulated, offering a secure trading environment. However, IG is slightly ahead due to its longer history and wider global presence.
Trading Platforms
The trading platform is the tool you use to interact with the markets. It needs to be reliable, fast, and easy to navigate.
Exness Trading Platform
Exness offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5), two of the most widely used trading platforms in the industry. These platforms are known for their speed, advanced charting tools, and extensive range of indicators. In addition, Exness offers a proprietary Exness Trader app, which is user-friendly and suitable for both new and seasoned traders.
IG Trading Platform
IG offers a more extensive range of platforms, including its proprietary web-based platform, MetaTrader 4, and access to ProRealTime and L2 Dealer for more advanced traders. The IG platform stands out for its ease of use, reliability, and real-time data. IG also provides a mobile app, allowing traders to stay connected on the go.
Verdict: While Exness focuses primarily on MT4 and MT5, IG offers a broader selection of platforms, making it a better choice for traders who want more flexibility and access to different tools.
Trading Fees and Spreads
Fees and spreads can eat into your profits, so it’s important to choose a broker with competitive pricing.
Exness Fees and Spreads
Exness is known for its tight spreads, especially on major currency pairs. They offer different account types, each with varying spreads and commission structures. For example, the Standard account has no commission, while the Raw Spread account offers ultra-tight spreads but comes with a small commission per trade. The broker also boasts no inactivity fees or deposit/withdrawal fees.
IG Fees and Spreads
IG offers competitive spreads across many markets, especially in forex. However, some account types may come with commissions, depending on the asset traded. IG is transparent about its fees, which include overnight financing fees and spreads on currency pairs. The spreads at IG may not always be as tight as Exness, especially for smaller account sizes. IG also charges inactivity fees for accounts that remain dormant for an extended period.
Verdict: Exness wins in this category for offering lower spreads and no inactivity fees, making it the more affordable option for many traders.
Asset Variety
Exness Asset Range
Exness provides access to a wide range of trading instruments, including over 100 currency pairs, metals, cryptocurrencies, stocks, and indices. This makes it a great option for forex traders and those looking to diversify into other asset classes.
IG Asset Range
IG offers over 17,000 trading instruments, including forex, stocks, indices, commodities, and cryptocurrencies. This gives traders a much broader range of opportunities to explore. IG is ideal for those who want to trade a wide variety of markets, from common forex pairs to more niche assets like government bonds.
Verdict: IG takes the lead here with its massive range of available assets, perfect for traders who want a broader selection of markets.
Customer Support
Having access to reliable customer support can make a big difference in your trading experience.
Exness Customer Support
Exness provides 24/7 customer support via live chat, email, and phone in multiple languages. They are known for their quick response times, and their website features a comprehensive help section for self-service support.
IG Customer Support
IG also offers strong customer support, with service available 24 hours a day from Monday to Friday. They provide support via phone, email, and live chat, along with an extensive help center. While their support is helpful, it may not be as accessible during weekends as Exness.
Verdict: Exness slightly edges out IG in customer support thanks to its 24/7 availability, including weekends.
Final Verdict
Both Exness and IG are excellent brokers, but the right choice depends on what you’re looking for as a trader.
- If you are a beginner or a trader looking for lower fees, tight spreads, and around-the-clock support, then Exness might be the better option for you.
- However, if you want access to more trading instruments, a wide range of platforms, and are comfortable with slightly higher fees, then IG is the right pick.
Ultimately, the decision comes down to your personal trading style, asset preference, and platform needs. Whether you choose Exness or IG, both brokers offer a safe and reliable environment for trading.
Frequently Asked Questions (FAQs)
Exness is known for its tight spreads and lower fees, making it better suited for forex traders with small or medium-sized accounts. IG offers more variety but may have slightly higher spreads.
Exness provides 24/7 customer support, including weekends, while IG offers support 24 hours a day on weekdays.
IG offers access to a wider range of markets, making it the better choice for traders who want more asset variety.
By evaluating these factors, you can decide which broker aligns with your trading goals and start your journey toward successful trading.
Editorial Staff at Chweya is a team of financial experts led by Vincent Nyagaka, with over 9 years of experience in finance, commerce, forex, crypto, and marketing. Started in 2014, Chweya is now among the largest free financial resource sites in the industry and is often referred to as Wikipedia for business.