Comparing FXNovus and IG
A 2024 Broker Comparison
Have you been looking for the perfect broker that matches your unique needs? Well, we have 2 options that will definitely have what you are looking for! In this broker review, we will take you through the offerings of these 2 prominent brokers – FXNovus and IG. Each one has a unique set of features tailored to different trading needs, for all levels of traders. Our extensive comparison will help you understand the strengths and limitations of both platforms, enabling you to make a well-informed decision that aligns with your trading goals.
Understanding FXNovus and IG Brokers
Our FXNovus review finds that it is a distinguished broker in the CFD trading world, regulated by the Financial Sector Conduct Authority (FSCA) of South Africa. This regulatory oversight ensures that the broker operates in line with regulatory standards to protect client interests and maintain market integrity. A broad asset range is offered covering various financial instruments, including Forex pairs, cryptocurrencies, precious metals, indices, stocks, and commodities. Additionally, no commission on deposits is provided, helping traders save on transaction costs and improve overall profitability. With a personalized WebTrader platform offering advanced features like real-time market analytics and one-click trading, FXNovus caters to all types of experience levels. Despite some regional restrictions and limited educational materials, the platform excels in customer support and transaction convenience, providing multiple payment methods for quick and secure transactions.
IG has been a well-established online trading broker in the industry since 1974. With a global client base of over 313,000 traders, IG offers access to a wide range of markets, totaling more than 17,000 instruments. These markets include currencies, stocks, commodities, and more, allowing traders to diversify their portfolios and take advantage of various opportunities. IG is regulated by multiple Tier-1 jurisdictions, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS). This high level of regulatory oversight ensures transparency and security, safeguarding client funds. IG’s award-winning platforms—Online Platform, Trading Apps, MetaTrader 4, ProRealTime, and L2 Dealer—provide fast execution speeds, advanced charting tools, and intuitive designs. The broker also supports traders with extensive educational resources and effective risk management tools. Despite high CFD fees for U.K. clients and limited account types, IG remains a top choice for its extensive market access and advanced trading technology.
Top Features and Drawbacks
- Broad Asset Ranges
- No Commission on Deposits
- Strong Customer Support
- Personalized WebTrader Interface
- Regional Restrictions
- Extensive Market Access
- Award-winning Platforms
- Extensive Educational Resources
- Effective Risk Management
- High CFD Fees for U.K. Clients
FXNovus & IG Review on Account Types
FXNovus provides five different kinds of trading accounts made to suit different investment goals and degrees of trading experience. These accounts include more complex choices for professionals as well as basic ones for beginners. Features of the different account kinds include access to specialized trading tools, different leverage levels, and personalized assistance. For a broad spectrum of traders, FXNovus is a flexible option because it enables them to select an account that best fits their trading methods and risk tolerance.
Different trading requirements and tastes are catered to by the range of account kinds offered by IG. These include CFD Accounts for leveraging positions across thousands of markets, Share Dealing Accounts for people interested in buying and selling particular equities, and Spread Betting Accounts for tax-free earnings in the UK. IG also provides long-term, tax-efficient investments with ISA and SIPP accounts. Each account type is designed to provide specific benefits, such as reduced tax liabilities or access to a broader range of markets, so traders can choose one that best suits their particular financial goals and strategies.
- Free Demo Account
- Negative Balance Protection
- VIP Account
- Free Demo Account
- Negative Balance Protection
- VIP Account
Which Trading Platform is For You?
| FXNovus | IG | |
| Platform | Personalized WebTrader platform with advanced features, real-time market analytics, and one-click trading. | Online platform, MetaTrader 4, ProRealTime, L2 Dealer |
| Social Trading | Not Available | Not Available |
| Listed on a stock exchange |  |  |
| Trading App | FXNovus Mobile App | IG Trading Apps |
| Leverage | Up to 1:400 | Up to 1:30 for Retail Clients |
| Commission | Сompetitive spreads with no commission No commissions and tight spreads | Commissions apply for certain products like shares CFDs and stock trading. |
Asset Range Comparison: FXNovus vs. IG
Both FXNovus and IG offer a diverse range of assets, providing traders with numerous opportunities to diversify their portfolios and explore various markets. FXNovus covers a wide variety of financial instruments, including Forex pairs, cryptocurrencies, precious metals, indices, stocks, and commodities. This extensive asset range allows traders to engage in different trading strategies and take advantage of various market conditions.
IG, on the other hand, boasts access to over 17,000 markets, making it one of the most comprehensive brokers in terms of asset coverage. IG’s offerings include Forex pairs, indices, cryptocurrencies, commodities, shares, bonds, options, and sectors. This broad offering enables traders to diversify extensively and manage their risk across multiple asset classes. Both brokers provide ample opportunities for traders to find the right instruments that match their trading styles and objectives.
SCORECARD SHOWDOWN: FXNovus vs IG
FXNovus and IG Support Reviewed
Both FXNovus and IG place a strong emphasis on providing excellent customer support to ensure a seamless trading experience for their clients. Our FXNovus review shows that incredible customer support is offered through various communication channels, including live chat, email, and phone support. The broker has been recognized for its exceptional customer service, receiving an award for Best Customer Service in 2024. Additionally, FXNovus maintains an extensive FAQ section on its website to help clients find quick answers to common questions.
IG, known for its extensive market reach, also excels in customer support. The broker provides 24/5 customer support via live chat, email, and phone, ensuring that traders can get help whenever they need it. IG’s support team is well-trained and knowledgeable, capable of assisting with technical issues, account inquiries, and trading advice. IG also has an in depth FAQ section on its website to help clients find quick answers to common questions. Both brokers demonstrate a strong dedication to customer satisfaction.
Regulatory Compliance
- CySEC
- FSA
- Securities Commission of the Bahamas (SCB)
- Financial Sector Conduct Authority (FSCA)
- ASIC
- Dubai Financial Services Authority
- FMA
- Strict KYC and AML Procedures
Leveraged trading is high risk. Losses can exceed deposits.
- CySEC
- FSA
- Securities Commission of the Bahamas (SCB)
- Financial Sector Conduct Authority (FSCA)
- ASIC
- Dubai Financial Services Authority
- FMA
- Strict KYC and AML Procedures
Leveraged trading is high risk. Losses can exceed deposits.
Overall Commissions & Fees Rating
FXNovus vs IG: Who Offers the Best Trading Experience?
We find that both brokers, have special advantages suited to various trading requirements. For traders looking for responsive and reasonably priced service, FXNovus is a great option because of its wide selection of assets, commission-free trading, and award-winning customer care. Alternatively, IG is distinguished by its wide market access, powerful trading platforms, wealth of instructional materials, and round-the-clock customer service. Because both brokers follow stringent regulatory guidelines, trading is secure. While FXNovus is ideal for those looking for high leverage and a personalized trading platform, IG is perfect for traders seeking extensive market coverage and advanced trading tools.
Frequently Asked Questions
1. What is the meaning of CFD?
A Contract for Difference (CFD) is a financial derivative that allows traders to speculate on the price movements of various assets without owning the underlying asset. CFDs are popular for trading instruments like Forex, stocks, commodities, and indices.
2. How do I know which broker to choose?
Choosing a broker depends on your trading needs and preferences. Consider factors such as the range of assets offered, trading platform features, regulatory compliance, customer support, and fees. Comparing FXNovus and IG reviews can help you make an informed decision.
3. Which one is the best broker?
The best broker varies based on individual requirements. IG is ideal for extensive market access and advanced platforms, while FXNovus is known for commission-free trades on deposits and strong customer support. Evaluate your trading goals to decide which broker suits you best.
4. How to compare different brokers?
To compare different brokers, look at factors such as regulatory status, range of trading instruments, fees, platform features, customer support, and user reviews. Using detailed comparison articles, like those reviewing FXNovus and IG, can provide valuable insights into which one might best meet your needs.
5. Is IG a good broker?
Yes, IG is a reputable broker known for its wide range of trading instruments, advanced trading platforms, and strong regulatory oversight.
6. What is FXNovus?
FXNovus is a reliable CFD broker regulated by the Financial Sector Conduct Authority (FSCA) of South Africa. It offers a diverse range of financial instruments, including Forex pairs, cryptocurrencies, and commodities.
7. What is the minimum deposit for IG trading?
The minimum deposit for IG trading varies depending on the account type and region. Typically, it starts from around $250, but it’s best to check IG’s official website for specific details.
8. Is FXNovus legit?
Yes, FXNovus is a legitimate broker regulated by the Financial Sector Conduct Authority (FSCA) of South Africa, ensuring compliance with regulatory standards and providing a secure trading environment.
9. Is IG a regulated broker?
Yes, IG is a highly regulated broker with oversight from multiple Tier-1 regulatory bodies, including the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC).
10. Who is the most trusted forex broker?
The most trusted forex broker can vary, but IG is frequently cited due to its long history, extensive regulatory oversight, and comprehensive market offerings. FXNovus is also considered reliable, particularly for its customer support and regulatory compliance.
