IG Alternatives

CMC Markets is the best overall IG alternative for most UK traders. It is the closest like-for-like replacement for people who use IG for spread betting and CFDs, offering more than 12,000 financial instruments, its proprietary Next Generation platform, MetaTrader 4 and no minimum deposit requirement.

That does not make CMC Markets better for everyone. Pepperstone is the stronger choice for MetaTrader, cTrader and TradingView users, Interactive Brokers is better suited to global multi-asset traders, XTB makes more sense if you want both investing and CFDs, and City Index is another strong direct alternative for UK spread betting.

IG itself remains difficult to replace if you actively use its combination of spread betting, a very broad market range, ProRealTime, MetaTrader 4, L2 Dealer and TradingView. Switching brokers should therefore solve a specific problem rather than simply give you a different logo.

This guide covers alternatives to IG, the UK trading and spread-betting provider. It is not a guide to Instagram alternatives.

The best IG alternatives at a glance

The important distinction is product type. A trader replacing IG's spread-betting account has different requirements from an investor replacing IG's share-dealing account.

1. CMC Markets: best overall IG alternative

CMC Markets gives spread-betting and CFD clients access to more than 12,000 financial instruments through its Next Generation platform. CMC Markets also supports MetaTrader 4 and does not require a minimum deposit to open a trading account.

That combination matters because moving from IG to CMC Markets does not require you to change the basic way you trade. You can continue speculating on forex, indices, commodities, shares and other markets through leveraged derivatives.

CMC Markets is particularly compelling for traders who prefer a strong proprietary platform. Next Generation includes more than 115 technical indicators and 70 chart patterns, while CMC Markets also offers MetaTrader for traders who want automated strategies and Expert Advisors.

Choose CMC Markets over IG if:

• You want the closest like-for-like spread-betting replacement.
• You prefer CMC Markets' Next Generation platform.
• You want spread betting and CFDs from the same provider.
• You want broad market coverage without needing IG's specialist platform ecosystem.

The main reason not to switch is IG's wider specialist-platform setup. IG supports ProRealTime, MetaTrader 4, L2 Dealer and TradingView, so traders already dependent on those integrations may gain little by moving.

Verdict: CMC Markets is the first broker I would shortlist when somebody specifically asks for an alternative to IG rather than simply asking for a good trading platform.

2. Pepperstone: best IG alternative for MT4, MT5, cTrader and TradingView

UK clients can spread bet or trade CFDs through Pepperstone using MetaTrader 4, MetaTrader 5, cTrader, TradingView or Pepperstone's proprietary platform. Its platform range covers more than 1,350 instruments.

That makes Pepperstone particularly attractive to systematic forex traders.

MetaTrader users can run Expert Advisors and backtest strategies. cTrader adds Depth of Market functionality and cBots for automation. TradingView users can place spread bets directly from TradingView rather than using it purely for analysis.

Pepperstone also publishes detailed forex pricing. Its August 2026 data showed an average EUR/USD spread of 0.5 points for spread betting, while Razor CFD pricing uses raw spreads plus commission. Actual spreads vary with market conditions.

The trade-off is market breadth. IG and CMC Markets offer substantially larger overall instrument ranges, so Pepperstone makes more sense for someone concentrated in forex, indices, commodities and major shares than someone who regularly trades obscure instruments.

Verdict: Choose Pepperstone if your question is really "What is the best alternative to IG for MetaTrader, cTrader or TradingView?"

3. City Index: a strong alternative for UK spread betting

City Index offers spread betting across thousands of global markets and supports forex, shares, indices, commodities, bonds and other instruments. Its UK offering advertises more than 8,500 spread-betting markets and more than 13,500 markets across its wider product range.

City Index has also added spread betting through TradingView, which makes it more relevant to technical traders who want charting and execution inside the same workflow.

Forex is another area where City Index competes directly. The platform advertises more than 80 FX pairs and spreads from 0.5 points on selected forex markets.

City Index therefore sits in a similar category to CMC Markets: it is a genuine replacement for the core IG trading experience rather than an investment app that happens to offer some CFDs.

Verdict: City Index deserves a shortlist alongside CMC Markets if spread betting is the main reason you currently use IG.

4. XTB: best if you want investing and CFDs in one account

XTB offers both cash stocks and stock CFDs. Its current product information lists more than 7,100 stocks across 16 major exchanges, with no commission on stock and ETF investment up to €100,000 of monthly turnover before its higher-volume commission applies.

For leveraged traders, XTB separately offers CFDs on more than 2,600 instruments covering forex, indices, shares, commodities and ETFs. XTB states that its UK CFD accounts have no minimum deposit requirement.

XTB Limited is authorised and regulated by the Financial Conduct Authority under FRN 522157.

The major limitation for an IG user is straightforward: XTB is not a like-for-like spread-betting replacement.

If spread betting is central to your strategy, CMC Markets, Pepperstone or City Index are better fits. If you want to combine long-term investing with occasional CFD trading, XTB becomes considerably more attractive.

Verdict: Choose XTB when you want less emphasis on spread betting and more emphasis on owning stocks and ETFs alongside a CFD account.

5. Interactive Brokers: best for global and professional-style trading

Interactive Brokers gives UK clients access to stocks, options, futures, currencies, bonds and funds across 170 markets in 40 countries and 29 currencies. Its Trader Workstation platform also supports more than 100 order types and algorithms.

Its product mix is fundamentally different from IG's spread-betting-led proposition.

Interactive Brokers is particularly relevant if you have outgrown OTC derivatives and want direct access to exchange-traded products. Its UK stock offering covers more than 90 market centres, while options, futures and fixed-income products sit within the same broader ecosystem.

Interactive Brokers UK Limited is authorised and regulated by the FCA under reference number 208159.

The obvious downside is complexity. Traders moving from IG primarily because they want something simpler are unlikely to find Interactive Brokers an improvement.

It also does not provide UK financial spread betting, so it cannot directly replace that part of an IG account.

Verdict: Choose Interactive Brokers instead of IG if your priority is global exchange access, options, futures and sophisticated order execution rather than spread betting.

Do you need an IG alternative for trading or investing?

If you use IG mainly for spread betting, start with CMC Markets, Pepperstone and City Index. All three preserve the underlying product structure, which means you are comparing platforms, spreads, market coverage and tooling rather than changing trading method completely.

If you use IG mainly for CFDs, CMC Markets and Pepperstone are the most direct substitutes, while XTB can make sense for a simpler combined investing and CFD proposition.

If you use IG mainly for buying stocks and ETFs, compare XTB and Interactive Brokers rather than limiting your shortlist to traditional spread-betting competitors.

If you trade options, futures or securities across multiple global exchanges, Interactive Brokers is a more natural alternative.

This distinction is more useful than asking which broker has the highest overall rating. A broker can be excellent and still be the wrong substitute for the specific part of IG you use.

Is CMC Markets better than IG?

CMC Markets offers more than 12,000 instruments and a strong proprietary trading environment, while IG advertises a larger spread-betting range and supports ProRealTime, MT4, L2 Dealer and TradingView.

For manual traders who prefer the Next Generation interface, CMC Markets may be the better fit.

For traders who need IG's specialist platforms or very broad product coverage, switching may create more compromises than benefits.

The useful question is not "Which broker wins overall?" It is "Which broker is better for the five or ten markets and workflows I actually use?"

Which IG alternative is cheapest?

A headline EUR/USD spread tells you almost nothing about the cost of holding an equity-index position for three weeks. Likewise, commission-free trading can still involve currency-conversion costs, spreads or overnight financing.

Compare brokers using your actual behaviour:

1. Pick the five markets you trade most frequently.
2. Record the normal spread at the hours you usually trade.
3. Add commissions where applicable.
4. Calculate overnight funding for your normal holding period.
5. Include FX conversion, guaranteed-stop and inactivity charges where relevant.
6. Compare the total cost of a representative month rather than one advertised headline spread.

That exercise will tell you more than any generic "cheapest broker" ranking.

Are IG alternatives safe?

The FCA classifies CFDs as high-risk products. UK retail rules include leverage limits between 30:1 and 2:1 depending on the underlying asset, margin close-out requirements, negative balance protection and mandatory risk warnings.

The FCA has also warned consumers about being encouraged to opt up to professional-client status because doing so can remove protections available to retail clients.

Before opening an account, verify the exact legal entity on the FCA Register. Do not assume that a familiar brand name automatically means every website or overseas entity using that name has the same UK regulatory protection.

What is the best alternative to IG for spread betting?

CMC Markets offers the closest broad replacement for IG's mix of market coverage, proprietary software and spread betting.

Pepperstone becomes more compelling when your workflow revolves around MT4, MT5, cTrader or TradingView.

City Index is the other obvious shortlist candidate for traders wanting a traditional FCA-regulated spread-betting provider.

Should you switch away from IG?

IG already offers an unusually broad combination of spread betting, CFDs, underlying investments and specialist trading platforms.

A better way to make the decision is to open demo accounts with your two strongest alternatives and recreate your normal trading workflow.

Check the markets you actually trade, the spreads during your normal trading hours, order types, charting, alerts, execution workflow and funding costs. Then compare the total friction and cost against IG.

For most UK traders looking for a direct replacement, start with CMC Markets.

Choose Pepperstone if platform flexibility and forex trading matter more.

Choose City Index if spread betting remains the priority.

Choose XTB if you are shifting towards stock and ETF investing.

Choose Interactive Brokers if you need global exchanges, futures, options and more professional trading infrastructure.

Risk warning: Spread bets and CFDs are complex leveraged products and carry a high risk of losing money rapidly. Check the current provider-specific risk warning and regulatory information before opening an account.