Best IG Markets Alternatives

The foreign exchange (forex) market has become a popular trading niche among professional and casual investors. IG Markets, now known as tastyfx in the U.S., is one of the top brokers for executing forex transactions. However, there are plenty of alternatives to IG Markets that are worth checking out.

However, the Commodity Futures Trading Commission (CFTC) has seen an uptick in fraud complaints from traders who deposited money with unregistered forex brokers. If you are interested in trading forex but unsure if IG is right for you, you must partner with one of the reputable IG alternatives. 

Our top forex brokers list can help you weigh your options and find a registered platform to execute trades. 

Quick Look: Best IG Alternatives 

• Best for Comprehensive Forex Trading: FOREX.com
• Best for Professional Traders: Interactive Brokers
• Best for User-Friendly Experience: Trading.com
• Best for Advanced Trading Tools: Saxo
• Best for Competitive Spreads: OANDA

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Disclosure: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% to 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. The products and services available to you at FOREX.com will depend on your location and on which of its regulated entities holds your account

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Best IG Alternatives for Forex

Here are our picks for the best IG alternatives. 

1. Best for Comprehensive Forex Trading: FOREX.com

FOREX.com is one of the absolute best U.S. brokers for trading forex. It’s globally recognized for its specialization in Forex trading. It offers a robust trading environment with access to over 80 currency pairs. You’ll have plenty of opportunities to diversify your portfolio. 

Why We Love It: FOREX.com offers a substantial number of educational resources. These assets deliver value for beginners and seasoned traders looking to enhance their skills. You’ll also be able to use MetaTrader 4 and MetaTrader 5 with FOREX.com. MT4 is an extremely popular analytics and trading tool for investors. 

FOREX.com also boasts competitive fees and transparent pricing. Overall, it’s a user-friendly and dynamic platform that can be a good fit no matter where you are in your investing journey. The platform's more advanced features have a bit of a learning curve, but that’s to be expected with any advanced broker solution. 

2. Best for Professional Traders: Interactive Brokers

Interactive Brokers delivers professional-grade trading tools and access to a wide range of global markets. You’ll benefit from the solution’s advanced functionality and extensive market access. 

Why We Love It: Interactive Brokers also has one of the most dynamic apps on the market. Despite being a professional-quality platform, Interactive Brokers boasts low commission fees, which can be especially appealing if you plan to execute many trades.

You won’t be limited to forex, either. The platform includes many trading instruments, including stocks, futures and options. You can focus on Forex early on and branch out to other commodities when you’re ready to diversify your portfolio. 

While Interactive Brokers integrates with solutions like MT4, it also has its powerful proprietary system. The platform offers advanced charting and analysis tools to help you make informed investment decisions. 

3. Best for User-Friendly Experience: Trading.com

Trading.com focuses on offering simplicity and delivering a great user experience. It’s a solid option if you want a straightforward platform without sacrificing functionality. 

Why We Love It: You’ll have no trouble getting up to speed on Trading.com. The easy-to-navigate platform is suitable for beginners while still offering fast execution speeds. Trading.com is serious about providing transparent pricing and doesn’t charge any hidden fees. What you see is what you get.

As a Trading.com user, you can also set up a demo account. Take advantage of this feature to practice different strategies and familiarize yourself with the world of forex. Check out our full review of Trading.com to learn more about what our team thinks of this popular forex platform. 

4. Best for Advanced Trading Tools: Saxo

Saxo offers a premium trading experience with advanced tools and many tradable assets. It’s ideal for traders who want to leverage sophisticated platforms. 

Why We Love It: Saxo features two dynamic trading platforms. SaxoTraderGo is an elegant, all-around solution allowing you to execute deals quickly. SaxoTraderPro includes even more advanced features and reporting capabilities. You can use it to explore different strategies and run projections to support your trading goals.

Saxo users also enjoy access to expert market insights. You’ll be able to tap into analyses and reports from industry experts, which can further guide your investment strategy. 

One thing to note is that the learning curve can be a bit steeper with Saxo. However, if you are serious about forex trading, taking the time to familiarize yourself with the platform can pay off in the long run. 

5. Best for Competitive Spreads: OANDA

OANDA provides transparent pricing and competitive spreads. It’s quickly becoming a highly trusted name in the forex space. OANDA caters to traders looking for a cost-effective option with a low barrier to entry. 

Why We Love It: Many brokers have a minimum deposit amount, but OANDA does not. You can start immediately and deposit as much or as little as you’d like. The flexible platform supports both standard and unique trading strategies. You’ll have a chance to try different approaches and find the one that best aligns with your investment goals.

OANDA also has a huge library of tools and resources. From simple calculators to advanced charting options, you’ll find everything you need all in one place. OANDA integrates with MT4 as well, which further expands its capabilities and supports comprehensive charting and analytics. 

IG Markets Overview

Here’s a quick look at the IG trading platform: 

Which IG Market Alternatives Are Right for You?

Choosing between the IG Forex broker and one of these alternatives comes down to a few simple questions: 

• What commodities do you want to trade? 
• How experienced or inexperienced are you as a trader? 
• Do you have an interest in dealing with any other commodities? 

Once you’ve answered them, you can eliminate unsuitable options and create a shortlist of the best platforms. Make sure to take advantage of any demo opportunities so you can experiment with each solution’s features and interface. After you’ve found the ideal platform for your goals, you can do your research and start executing deals. 

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