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BDSwiss vs IG - 2024 Comparison | FxScouts
AuthorAuthor: Björn MichelsUpdated: October 12, 2023

Last Updated On October 12, 2023

Björn Michels

Trading with a reputable online broker is a crucial factor for success in the international markets. At FxScouts, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

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Broker Score
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.37/ 5 ZAR 150FSCA Regulated Forex BrokersFinancial Services CommissionThe Seychelles Financial Services AuthorityMwali International Services AuthorityMarket Maker, STPCommodities, Cryptocurrencies, Stock CFDs, Forex, Indices5327
  • Tight spreads
  • Good for beginners
  • Excellent education and market analysis
  • High inactivity fees
  • Limited number of assets
Read Review 111104/ 5 11110.54.5/ 5 11110.54.5/ 5 111115/ 5 111115/ 5 111104/ 5 111104/ 5 02000:10 pips Classic, VIP, Cent, Premium, Zero Spread MT4, MT5, BDSwiss WebTraderBank Transfer, Visa, Mastercard, Skrill, Neteller, Astropay6 USD / lot - Zero-Spread account
11110.54.69/ 5 USD 0FCA Regulated BrokersASIC Regulated Forex BrokersFSCA Regulated Forex BrokersBundesanstalt für FinanzdienstleistungsaufsichtSwiss Financial Market Supervisory AuthorityMonetary Authority of SingaporeFinancial Markets Authority of New ZealandDubai Financial Services AuthorityFinancial Services AgencyCommodity Futures Trading AssociationFinansinspektionenMarket MakerBonds, Commodities, Cryptocurrencies, Digital 100s, Stock CFDs, ETFs, Forex, Indices, Interest Rates8010
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Excellent education
  • Excellent market analysis
  • High minimum deposit
Read Review 111115/ 5 11110.54.5/ 5 11110.54.5/ 5 111115/ 5 111115/ 5 111115/ 5 111104/ 5 69%200:10.60 pips DMA, Live Account, Spread Betting MT4, L2 Dealer, ProRealTimeBank Transfer, Visa, Mastercard, PaypalFees Included in Spread

How do IG and BDSwiss stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

BDSwiss

IG

At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare IG and BDSwiss, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does IG or BDSwiss have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that IG holds six Tier 1 and four Tier 2 licences, and BDSwiss holds no Tier 1 and no Tier 2 licences.

 

Is IG financially regulated?

Yes IG was founded in 1974 and is regulated by ASIC, BaFin, CFTC, DFSA, FCA, FMA, FSA-Japan, Fi, FSCA, MAS and FINMA.

 

Is BDSwiss financially regulated?

Yes BDSwiss was founded in 2012 and is regulated by FSC, FSCA, MISA and FSA-Seychelles.

 

Based on these findings, IG earned a higher trust rating than BDSwiss.

Does IG or BDSwiss have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that IG has overall lower trading costs than BDSwiss. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
BDSwiss
11110.54.5/ 5
EUR, USD, GBP, ZAR
1.30 pips
USD 13
0.00 pips
0.60 pips
0.30 pips
USD 0
IG
11110.54.5/ 5
AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
0.60 pips
USD 6
0.85 pips
1.40 pips
0.94 pips
USD 0

 

Does IG or BDSwiss offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, 0 offers support for and 0 offers support for . 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both BDSwiss and IG offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
BDSwiss
11110.54.5/ 5
BDSwiss WebTrader
IG
11110.54.5/ 5
L2 Dealer
ProRealTime

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that IG offers a greater range and depth of instruments to trade than BDSwiss. IG offers 80 Forex pairs to trade and BDSwiss offers 53 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, BDSwiss offers 27 cryptocurrencies while IG offers 10 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with BDSwiss.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that BDSwiss charges a withdrawal fee and IG does not. Overall, 0 has better deposit and withdrawal processes than 0. 

Which broker offers better educational support?

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. 

BDSwiss and IG both have very good educational support. Both BDSwiss and IG offer educational support for more experienced traders.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
BDSwiss
High
IG
High

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that 0 offers better research analysis than 0 and that both BDSwiss and IG offer frequent webinars.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
BDSwiss
IG

 

Our overall Verdict on IG

Founded in 1974 and FSCA-regulated since 2021, IG has a long history of satisfied clients, low trading fees, and a vast range of trading instruments.

Our research found that IG has over 320,000 clients worldwide and has been the largest CFD broker globally by revenue for the last few years. It has two low-cost trading accounts with no minimum deposit requirements and offers trading on over 17,000 instruments, all of which can be accessed on its award-winning app and web trader platform. 

For more traditional investors, IG also runs a fully licenced stock brokerage on the side. And in addition to a wide range of trading tools, IG has a world-class selection of educational and market analysis materials to get new traders started.

Our overall Verdict on BDSwiss

Founded in 2012, BDSwiss is a responsible and well-regulated broker with a large international customer base.  It offers trading on multiple instruments, including CFDs in Forex, commodities, shares, indices, and over 26 cryptocurrencies.

BDSwiss's trading fees are industry-average across most of its account types. The Cent Account requires a minimum deposit of 10 USD and spreads start at 1.5 pips on the EUR/USD, but no commissions are charged for Forex trading. Trading fees are significantly lower on the Zero-Spread Account, down to 0.0 pips (EUR/USD) with a commission of 6 USD, and a minimum deposit of 100 USD/1,800 ZAR.

With full support for both the MT4, MT5, and its own proprietary trading platforms, traders can access various trading tools, including Autochartist and built-in trend analysis tools.  Additionally, its award-winning educational and analytical materials cater to traders of all experience levels, and BDSwiss allows all trading strategies, including hedging, scalping, and algorithmic trading.

Which broker has the highest overall rating?

IG has an overall rating of 4.69 and BDSwiss has an overall rating of 4.37. For more detail please read our reviews of IG and BDSwiss.

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