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Alison Heyerdahl is the Head of Content at FxScouts, a Chartered Market Technician (CMT), and an experienced trader, as well as a financial writer with extensive expertise in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast.
In the fast-paced world of forex trading, choosing the right broker is crucial. IG and Spreadex are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.
The radar chart above illustrates the comparison between IG and Spreadex across several key metrics, with the highest possible score being 100 in each category.
At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated IG and Spreadex, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. We also consider numerous factors when deciding which tier a regulator belongs to. Regulators that we rank as the world’s top regulators, gets a tier 1 rank, while regulators who only scores a tier 5-rank, provide virtually no regulatory oversight. The more top-tier authorities regulating a broker, the higher its trust rating. Read more about regulation and our tier system here.
In our comparison:
Based on these findings, IG earned a higher trust rating than Spreadex.
When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.
We found that IG and Spreadex have the same trading costs.
Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both IG and Spreadex offer copy trading.
A broader range of CFD instruments provides more trading opportunities. IG offers a greater variety of instruments compared to Spreadex:
For those interested in trading cryptocurrencies, IG offers 10 cryptocurrencies, while Spreadex offers 8 cryptocurrencies. Therefore, IG is the better choice for cryptocurrency trading.
Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that Spreadex charges a withdrawal fee and IG does not. Overall, IG has better deposit and withdrawal processes than Spreadex.
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
IG has better educational support than Spreadex. Both IG and Spreadex offer educational support for more experienced traders.Access to frequent and high-quality market research and analysis is crucial.
We found that IG offers better research analysis than Spreadex and that both IG and Spreadex offer frequent webinars.
Founded in London in 1974, IG is one of the most established brokers in the world and is known for its competitive pricing, secure trading environment, and wide market access.
With over 320,000 clients globally, IG has been the largest CFD broker in the world by revenue for several years. Clients can trade more than 17,000 instruments with no minimum deposit requirement, including forex, indices, shares, commodities, ETFs, and bonds. All markets are available via IG’s award-winning proprietary platforms, MetaTrader 4, TradingView integration, and L2 Dealer for direct market access.
For traditional investors, IG also operates a fully licensed UK stockbroking service. Alongside its diverse market range, IG offers an exceptional suite of trading tools, professional-grade analysis, and one of the best educational resources in the industry, making it an excellent choice for both beginner and experienced traders.
Founded in the UK in 1999, Spreadex is a large sports and spread betting broker with a CFD division that offers a low-cost trading environment on a wide range of tradable assets. However, support is limited to its proprietary platform and Spreadex offers virtually no trading tools.
Spreadex offers one live commission-free CFD account with no minimum deposit requirement and spreads starting at 0.60 pips on the EUR/USD, which is significantly tighter than other similar brokers. Spreadex also stands out for the number of financial assets on offer, including over 3000 share CFDs, 200 ETFs, over 60 Forex pairs, 31 commodities, indices, and a small range of cryptocurrencies (though under FCA regulations cryptos are only available for professional traders).
Some drawbacks for traders considering Spreadex are that it offers no demo account, an unusual move considering Spreadex only offers trading on its proprietary platform. It also offers little in the way of educational or market analysis materials, forcing beginner traders to educate themselves elsewhere.
Overall, Spreadex will appeal to traders who value a low-cost trading environment and a vast range of tradable assets.
For more detailed reviews, please read our comprehensive assessments of IG and Spreadex.
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Broker | Overall Rating Our overall rating evaluates brokers on platform quality, fees, service, regulation, and instruments. Higher scores reflect better performance and reliability. | Official Site Click to visit the broker’s official website for more information and to open an account. | Min. Deposit The minimum amount of money required to open an account with this broker. | Min. Spread | Trading Cost | Licenced by Displays the financial regulators licensing the broker, shown by national flags, ensuring compliance with financial standards for safer trading. | Accepts Traders from %s | Compare Select two brokers using the checkboxes to compare their features, fees, platforms, and more side by side. |
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 | USD 0 | 0 pips | USD 7 |    | jp, es, us, ca | |||
 | USD 3 | 0.10 pips | USD 7 |     | at, be, bg, cy, cz, de, dk, ee, el*, es, fi, fr, hr, hu, ie, it, lt, lu, lv, mt, nl, pl, pt, ro, se, si, sk, us, ca, au, nz, il, iq, sy, ir, kp, my, ye, sg, pr, gu | |||
 | USD 0 | 0 pips | USD 10 | | jp, be, el, lt, pt, bg, es, lu, ro, cz, fr, hu, si, dk, hr, mt, sk, de, it, nl, fi, ee, cy, at, se, ie, lv, pl | |||
| USD 5 | 0.60 pips | USD 6 |  | us, es, ca, ir, il | |||
 | USD 100 | 0.90 pips | USD 9 |    | es, be, cu, ir, kp, sy, us, nz, ru, by, lb, ye, im, uk, je, gg, af, dz, iq, ps, in | |||
 | USD 100 | 1 pips | USD 10 |  | jp, es | |||
 | USD 100 | 0.40 pips | USD 14 | | es | |||
 | USD 100 | 0 pips | USD 6 | | jp, es | |||
 | USD 200 | 0.10 pips | USD 8 | | jp, es | |||
 | USD 0 | 0.80 pips | USD 7 |  | us, es |
Select another broker to another broker to compare features, fees, and platforms side by side.
Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.
The FxScouts podcast helps beginner Forex traders get the best start to their trading careers.
