Comparison of IG vs Interactive Brokers [ 2024 ]

The best brokers to invest in cryptocurrencies compared by their commissions, cryptos, security and much more. Here is theIG vs Interactive Brokers comparison!

Your expert: Alejandro Borja

IG

Your expert: Xavier Tarrasó

Interactive Brokers

Main points

Fees

Average 3,4/5

Regulated

FCA, ASIC

Demo account

Yes

Low 4,4/5

Fees

SEC, FCA

Regulated

Yes

Demo account

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – IG offers competitive spreads and a transparent fee structure for crypto CFDs. However, the inactivity fee after 24 months can be a downside for less active traders .

4.6 – Interactive Brokers charges low commissions (0.12% to 0.18% of trade value) with no added spreads or custody fees, making it one of the most cost-effective options for serious traders .

Level

Average 3,4/5

Low 4,4/5

Brief explanation

IG’s commission structure for cryptocurrency trading primarily involves spreads and overnight funding fees. When trading CFDs on cryptocurrencies, IG charges a spread, which is the difference between the buy and sell price. This spread varies depending on the cryptocurrency being traded. For example, spreads for Bitcoin and Ethereum are typically lower due to higher liquidity, while smaller altcoins may have wider spreads. Additionally, IG charges an overnight funding fee if positions are held open past a certain time. This fee is based on the size of the position and the duration it is held. Unlike some exchanges, IG does not charge a direct commission per trade, making the spread the primary cost to consider. However, traders should be aware of the potential for overnight fees to accumulate if positions are held long-term. Overall, while IG’s fee structure can seem complex due to the combination of spreads and overnight funding fees, it remains competitive for those who trade actively and manage their positions effectively.

Interactive Brokers offers a competitive and transparent commission structure for cryptocurrency trading. The commission rates range from 0.12% to 0.18% of the trade value, with a minimum fee of $1.75 per order, capped at 1% of the trade value. This fee structure is notably lower than many competitors, who may charge up to 2.00% or include additional spreads and markups. Trading cryptocurrencies on Interactive Brokers’ platform does not incur any added spreads, markups, or custody fees. This is facilitated through their partnerships with Paxos Trust Company and Zero Hash LLC, both of which are regulated entities, ensuring a secure trading environment. Furthermore, clients can trade cryptocurrencies 24/7 when funds are transferred to their dedicated Paxos or Zero Hash account during normal US banking hours.

IG

Year Founded: IG was founded in 1974, giving it a long-standing reputation and extensive experience in the trading industry. This longevity demonstrates its stability and reliability as a trading platform.
Number of Users: IG serves over 239,000 clients worldwide, reflecting its widespread acceptance and trust among traders. A large user base often indicates a platform's credibility and reliability.
Security Methods: IG employs top-tier security measures, including two-factor authentication (2FA), encryption protocols, and segregated client funds, ensuring that user data and assets are well-protected.
Reputation and Reviews: IG has consistently received positive reviews and high ratings from users and industry experts alike. Its commitment to transparency, customer service, and innovative tools has earned it numerous awards and recognitions.
Regulation: IG is regulated by several top financial authorities, including the UK's Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS). These stringent regulatory standards provide additional assurance of its legitimacy and trustworthiness.

Interactive Brokers

Year Founded: Established in 1978, Interactive Brokers has a long history of providing reliable and innovative trading solutions.
Security Methods: The platform uses top-tier security measures, including two-factor authentication and encryption, ensuring the safety of client assets and data.
Number of Users: Interactive Brokers boasts a large user base, serving over 1.6 million clients globally, which speaks to its reliability and popularity.
Regulation: The firm is regulated by major financial authorities, including the SEC, FINRA, and several international regulators, ensuring compliance with stringent financial laws.
Trading Volume and Liquidity: Interactive Brokers handles a high volume of trades daily, providing deep liquidity, which is crucial for effective trading execution and minimal slippage.

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Account Minimum

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Direct link to the website

Product selection

Native token

IG does not have a native token.

Interactive Brokers does not have a native token.

Earns

IG does not provide staking or earning options for cryptocurrencies. It offers crypto trading primarily through CFDs .

Interactive Brokers does not offer staking or similar earning options for cryptocurrencies. The platform allows trading and holding of cryptocurrencies .

NFT marketplace

IG does not have an NFT marketplace.

Interactive Brokers does not have an NFT marketplace.

Cripto/debit card

IG does not provide a card for its clients .

Interactive Brokers offers an IBKR debit card for US residents as part of their Integrated Investment Management accounts .

Payment methods

Transfers

Yes, IG accepts bank transfers for both deposits and withdrawals .

Yes, Interactive Brokers accepts bank transfers for both deposits and withdrawals .

Mastercard

Yes, IG accepts Mastercard for deposits.

No, Interactive Brokers does not accept Mastercard for deposits.

Wire transfer

Wise is supported as a payment method .

Wise is not mentioned as a supported payment method .

Card

Yes, IG accepts credit/debit cards (Visa, Mastercard) .

No, Interactive Brokers does not accept credit/debit cards .

Comparative table

IG	Features	Interactive Brokers
IG’s low minimum trade size makes it accessible for beginners looking to start small.	Minimum Trade	Interactive Brokers offers a low minimum trade amount, making it accessible for both small and large investors. This encourages new traders to start without significant capital.
While IG offers competitive spreads, its fee structure can be confusing and relatively high due to additional charges.	Trading and Transaction Fees	The platform’s fees are among the lowest in the industry, which is a major advantage for frequent traders.
IG provides a limited selection of cryptocurrencies, focusing primarily on major coins like Bitcoin and Ethereum.	Number of Cryptocurrencies	Currently, only eight cryptocurrencies are available, which limits options for traders looking for a diverse portfolio.
The platform mainly supports crypto-to-fiat trading, with fewer options for trading between different cryptocurrencies.	Crypto-to-Crypto Trading Pairs	The platform offers limited crypto-to-crypto pairs, which restricts trading strategies for users looking to trade beyond major cryptocurrencies.
IG excels in transparency, providing clear and detailed information about fees, regulations, and trading options.	Website Transparency	Interactive Brokers provides clear and comprehensive information about their services and fees. However, the site could be more intuitive for beginners.
IG does not provide a card for its clients .	Credit/Debit Card	Interactive Brokers offers an IBKR debit card for US residents as part of their Integrated Investment Management accounts .
IG does not offer dedicated crypto wallets, as it focuses on CFD trading rather than actual cryptocurrency ownership.	Storage Offering	The platform offers secure storage solutions through partnerships with regulated entities, ensuring the safety of users’ digital assets.
There are no staking or reward programs for holding cryptocurrencies on IG.	Staking and Rewards	Interactive Brokers does not currently offer staking or rewards programs, which could be a drawback for users looking for passive income opportunities.
Both the mobile app and desktop platform are well-designed, offering advanced trading tools and features.	Mobile App and Desktop	The mobile and desktop platforms are highly rated for their functionality and user-friendly design, catering to both novice and experienced traders.
IG provides responsive and helpful customer service through various channels, including phone, email, and live chat.	Customer Service	The customer service is generally responsive and helpful. However, the complex account setup process can be a barrier for new users.
IG offers multiple deposit and withdrawal methods, though some may incur fees, and processing times can vary.	Deposit and Withdraw	The platform provides efficient deposit and withdrawal processes with multiple options, although there is room for improvement in speeding up withdrawal times.

Key features

Analysis tools

IG provides advanced charting tools, technical indicators, and a highly functional mobile app. They also offer educational resources and risk management tools, including stop and limit orders .

Interactive Brokers offers the Trader Workstation (TWS) platform, which includes powerful trading tools and advanced charting capabilities. They also provide comprehensive market data and analysis tools .

Mobile APP

Yes, IG offers the IG Trading app, which is highly regarded and packed with features for both casual and advanced traders .

Yes, Interactive Brokers offers the IBKR Mobile app for iOS and Android devices, providing comprehensive trading tools and account management features .

Security

IG is highly trusted and regulated by multiple top-tier authorities, including the FCA and ASIC. They offer robust security features such as two-factor authentication and SSL encryption. IG also provides negative balance protection, ensuring clients do not lose more than their account balance.

Interactive Brokers is regulated by top-tier US authorities like the SEC and FINRA, providing a high level of security and transparency. They offer SIPC insurance, protecting clients’ securities up to $500,000, including a $250,000 cash limit.

Additional features

IG offers a broad range of cryptocurrencies for trading via CFDs. Their platform includes robust charting tools, various order types, and 24/7 customer support. IG is regulated by top-tier authorities, ensuring a high level of security and reliability. However, their services might not be available to all regions, and they do not provide direct ownership of cryptocurrencies .

Interactive Brokers allows clients to trade cryptocurrencies through Paxos or Zero Hash, offering a low commission rate of 0.12% to 0.18% of the trade value. They support a variety of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, and provide advanced trading tools through their Trader Workstation platform. Interactive Brokers also offer features like holding USD in crypto accounts and 24/7 trading .

Anonymity

IG requires personal identification and verification documents for account opening, thus not supporting anonymous accounts .

Anonymous accounts are not available. Interactive Brokers requires detailed personal information and identity verification .

Key points

Available cryptocurrencies

IG offers trading in cryptocurrency CFDs. The available cryptocurrencies are Ripple (XRP), Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), NEO, Stellar (XLM), and EOS.

Interactive Brokers allows both direct trading and CFDs for cryptocurrencies. The available cryptocurrencies for direct trading are Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC). Additional coins are available through CFDs.

User-friendliness

IG’s platform is well-regarded for its usability, offering a straightforward interface for trading cryptocurrencies. The platform provides access to various educational resources and customer support, making it easier for new traders to get started. IG’s robust regulatory framework and security measures also contribute to a trustworthy trading environment .

Interactive Brokers integrates cryptocurrency trading into its existing platform, allowing users to trade crypto alongside other asset classes. The platform offers low commissions and a professional-grade trading environment. However, the setup process might be more complex compared to dedicated crypto exchanges, which could be a drawback for less experienced users .

Value for money

IG provides excellent value for money with competitive fees and a wide range of tradable cryptocurrencies. However, its fee structure can be complex, and occasional traders may find some charges, such as inactivity fees, to be less appealing.

Interactive Brokers is known for its low commissions and transparent pricing, making it a cost-effective choice for crypto trading. Its professional-grade trading tools add significant value, though the platform might be too complex for beginners.

Countries of operation

United Kingdom, European Union, Australia, United States, Singapore .

United States, Canada, United Kingdom, Ireland, Hungary, Australia, India, Japan, Hong Kong, Singapore .

Best for

IG is suitable for traders who value a well-established, regulated platform with a range of educational resources. It’s best for those who prefer trading cryptocurrency CFDs and are looking for a comprehensive trading experience with robust security measures.

Interactive Brokers is ideal for professional and experienced traders who want to trade cryptocurrencies alongside other asset classes. Its low commissions and professional-grade trading tools make it a strong choice for serious investors.

Account

Trading

IG provides a robust platform for trading crypto CFDs, offering a variety of cryptocurrencies with leverage options. It is well-regulated and provides excellent trading tools, making it suitable for serious traders.

Interactive Brokers offers limited direct cryptocurrency trading but provides access to crypto-related financial products. It is more focused on traditional investment products, making it less ideal for pure crypto trading.

Deposit and withdrawal

IG offers free deposits and withdrawals through bank transfers, credit/debit cards, and PayPal. The process is quick and efficient, with most transactions processed within a few business days.

Interactive Brokers allows deposits and withdrawals via bank transfers and wire transfers. The process is secure but can be slower, especially for international transfers. Fees may apply for withdrawals.

Account opening process

IG offers a smooth and fast account opening process. Users fill out an online application form, provide personal and financial information, and submit verification documents. Accounts are usually approved within a day.

The account opening process at Interactive Brokers is detailed and thorough. Users must provide extensive personal and financial information, and submit various verification documents. The process is fully digital but can take a few days for approval due to the comprehensive requirements.

KYC required?

KYC verification is compulsory at IG. Users are required to submit identification documents and proof of address before they can start trading.

Yes, KYC is required at Interactive Brokers. The account opening process includes submitting personal identification documents and proof of address.

Customer Service

IG offers comprehensive customer support available 24/5 through phone, email, and live chat. The support team is known for being efficient and knowledgeable, making it easy for users to get assistance.

Interactive Brokers provides customer support via phone, email, and live chat. The support is available 24/5 and is generally responsive, though some users find the service to be slower during peak times due to high demand.

Security

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I would recommend IG for its robust and secure trading platform. IG’s long-standing reputation, coupled with its strong regulatory oversight, makes it a reliable choice for cryptocurrency trading. The platform’s user-friendly interface and comprehensive educational resources are perfect for beginners, while the advanced trading tools cater to more experienced traders. However, it’s important to be aware of the complex fee structure and limited selection of cryptocurrencies. Overall, IG is a solid option for those looking to trade cryptocurrencies through a well-established broker.

Xavier Tarrasó

As an expert on our website, I highly recommend Interactive Brokers for those interested in integrating cryptocurrency trading with traditional financial instruments. The platform offers competitive fees, robust security, and seamless integration with other asset classes, making it an excellent choice for experienced traders looking to diversify their portfolios. While the account setup process can be complex, the advanced trading features and reliable customer support make it worth the effort. If you’re seeking a secure and cost-effective way to trade cryptocurrencies, Interactive Brokers is a solid option.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Comparison of IG vs Interactive Brokers [ 2024 ]

IG

Interactive Brokers

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

IG

Interactive Brokers

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives IG and Interactive Brokers