IG
MiTrade
IG vs MiTrade
A detailed side-by-side comparison based on our hands-on testing across 8 scoring categories.
IG and MiTrade are both popular choices for forex and CFD traders, but they cater to different needs and experience levels. IG, founded in 1974 and headquartered in London, UK, is regulated by FCA, ASIC, MAS, BaFin and offers spreads starting from 0.6 pips with a minimum deposit of $250. MiTrade, established in 2011 in Melbourne, Australia, holds licenses from ASIC, CySEC, CIMA with spreads from 0.0 pips and a $50 minimum deposit. In our hands-on testing across 8 scoring categories, IG scored 9.2/10 overall compared to MiTrade's 7.2/10, making it the stronger pick for most traders. That said, MiTrade holds its own with overall value, so your ideal broker depends on what you prioritize in a trading partner.
Key Differences at a Glance
- 📊
IG scores 9.2/10 overall vs 7.2/10 for MiTrade — a 2.0-point difference.
- 💵
MiTrade requires just $50 to start, while IG needs $250 — MiTrade is 5x more accessible.
- 📈
IG offers 17,000+ instruments vs 400+ at MiTrade — a massive gap in market coverage.
- 🖥️
IG runs on IG Platform, MT4, ProRealTime, L2 Dealer, while MiTrade uses MiTrade App, MiTrade WebTrader — different ecosystems for different trading styles.
- ⚡
The biggest gap is in Platforms & Tools: IG scores 9.5 vs 7.0 for MiTrade — a 2.5-point difference.
Our Verdict
IG
Score: 9.2/10 · Wins 8 categories- You want lower spreads and trading fees
- You're a beginner who values learning resources
- You need advanced trading platforms and tools
- Top-tier regulation and fund safety are your priority
MiTrade
Score: 7.2/10 · Wins 0 categories- You prefer a low minimum deposit ($50)
- You prefer MiTrade's trading environment overall
IG takes the lead with an overall score of 9.2/10 compared to 7.2/10, winning in 8 out of 8 scoring categories. IG stands out for lower trading costs and better trading platforms, while MiTrade remains a solid alternative.
Detailed Verdict
After testing both brokers with real accounts, IG comes out ahead with a 9.2/10 overall rating, winning 8 out of 8 categories. Its strongest area is Regulation & Trust where it scores 10.0/10. IG holds Tier 1 regulation, meaning your funds benefit from top-level investor protection including segregated accounts and compensation schemes. MiTrade is not without merit — it scores 7.2/10 overall and excels in Regulation & Trust (8.0/10). For a complete breakdown, read our full IG review and MiTrade review — both include account opening walkthroughs, platform screenshots, and withdrawal test results.
Score Breakdown
IG wins by 1.0 points
IG wins by 2.5 points
IG wins by 2.0 points
IG wins by 2.5 points
IG wins by 1.5 points
IG wins by 2.5 points
IG wins by 0.5 points
IG wins by 2.5 points
Full Feature Comparison
| Feature | ||
|---|---|---|
| Overall Score | 9.2/10 ✓ | 7.2/10 |
| Min Deposit Lower is better | $250 | $50 ✓ |
| Max Leverage | 1:200 | 1:200 |
| Spreads From | 0.6 pips | 0.0 pips |
| Platforms | IG Platform, MT4, ProRealTime, L2 Dealer | MiTrade App, MiTrade WebTrader |
| Regulation | FCA, ASIC, MAS, BaFin | ASIC, CySEC, CIMA |
| Founded Older track record highlighted | 1974 ✓ | 2011 |
| Markets | 17,000+ ✓ | 400+ |
Fees & Costs
When it comes to trading costs, IG has the edge with a score of 8.5/10 versus 7.5/10 for MiTrade. IG offers spreads starting from 0.6 pips, while MiTrade starts from 0.0 pips. The minimum deposit at IG is $250, compared to $50 at MiTrade. Both brokers operate primarily on a spread-based pricing model, though actual costs vary by account type and instrument. For high-volume traders, even small spread differences add up significantly over time, making this an important category to weigh carefully.
Trading Platforms
IG scores 9.5/10 for platforms compared to 7/10 for MiTrade. IG provides IG Platform, MT4, ProRealTime, L2 Dealer, while MiTrade offers MiTrade App, MiTrade WebTrader. The choice of platform affects your charting, order execution speed, and available technical indicators. Traders who rely on MetaTrader's algorithmic trading capabilities should check which MT4/MT5 features each broker supports, including custom indicators and expert advisors.
Regulation & Safety
Regulation is crucial for fund safety. IG is regulated by FCA, ASIC, MAS, BaFin (Tier 1), while MiTrade holds licenses from ASIC, CySEC, CIMA (Tier 1). IG scores 10/10 and MiTrade scores 8/10 in this category. Tier 1 regulators like FCA, ASIC, and CySEC offer the strongest investor protection, including segregated client funds and compensation schemes. Always verify your broker's specific license for your jurisdiction before opening an account.
Education & Research
For learning resources, IG leads with 9/10 compared to 6.5/10. Quality education materials can shorten your learning curve significantly. Look for brokers offering structured courses, live webinars, and practice demo accounts. IG and MiTrade both provide demo accounts for risk-free practice, but the depth of educational content varies. Beginners should prioritize this category when choosing between the two.
Customer Support
IG offers 24/5 Live Chat, Email, Phone and scores 8.5/10, while MiTrade provides 24/5 Live Chat, Email with a score of 7/10. Reliable support becomes critical during market volatility or when you encounter account issues. Look for brokers with 24/5 or 24/7 availability, multiple contact channels, and support in your preferred language.
Deposit & Withdrawal
IG scores 8/10 for deposits and withdrawals, while MiTrade scores 7.5/10. IG accepts Bank Transfer, Credit Card, PayPal, and MiTrade supports Bank Transfer, Credit Card, Skrill, Apple Pay, Google Pay. Processing times, fees, and available currencies vary. IG requires a minimum deposit of $250 versus $50 for MiTrade. Always check withdrawal conditions and any potential fees before funding your account.
Which Broker Is Right for You?
Choose IG if you...
- You want lower spreads and trading fees
- You're a beginner who values learning resources
- You need advanced trading platforms and tools
- Top-tier regulation and fund safety are your priority
Choose MiTrade if you...
- You prefer a low minimum deposit ($50)
- You prefer MiTrade's trading environment overall
🗳️ Which Broker Do You Prefer?
Cast your vote — see what other traders think
Frequently Asked Questions
Is IG better than MiTrade?
IG scores higher overall (9.2/10 vs 7.2/10), winning 8 of 8 categories. However, MiTrade remains competitive. The best choice depends on what matters most to your trading style.
Which has lower fees, IG or MiTrade?
IG scores higher for trading costs. IG offers spreads from 0.6 pips with a $250 minimum deposit, while MiTrade starts from 0.0 pips with $50 minimum. Actual trading costs depend on your instrument, volume, and account type.
Is IG safe to trade with?
IG is regulated by FCA, ASIC, MAS, BaFin and scores 10/10 for regulation. MiTrade is regulated by ASIC, CySEC, CIMA with a score of 8/10. Both hold recognized licenses, but verify the specific entity covering your region.
Which has better trading platforms, IG or MiTrade?
IG scores 9.5/10 for platforms. IG offers IG Platform, MT4, ProRealTime, L2 Dealer, while MiTrade provides MiTrade App, MiTrade WebTrader. Your ideal platform depends on whether you prefer proprietary tools, MetaTrader, or third-party solutions.
What's the minimum deposit for IG vs MiTrade?
IG requires a minimum deposit of $250, while MiTrade requires $50. MiTrade has the lower entry barrier, making it more accessible for beginners or those testing with smaller amounts.
Ready to Start Trading?
Open a free account with either broker and start trading today.