IG vs ProsperityFx | Our In-Depth Analaysis (2024)

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IG and ProsperityFX are online forex brokers that offer their trading services to traders and investors. IG is a highly regulated and trusted forex broker. It is regulated by multiple regulatory authorities including ASIC, FCA, JFSA, SFC (Hongkong), FSCA, MAS, FMA, GmbH, FINMA. On the other hand, ProsperityFX is an offshore forex broker which is not regulated by any regulatory bodies. Both the brokers have their own strengths and weaknesses.  

In this article, we will review and compare the brokerage services offered by IG and ProsperityFX. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.

IG

Founded in 1974 as IG Index by British financier Stuart Wheeler, IG is a well-known forex and CFD broker. Based in the United Kingdom, IG offers online trading services, including spread betting and CFD trading. It provides access to over 100 forex currency pairs, CFDs, commodities, stocks, indices, gold, silver, oil, bitcoin, and other cryptocurrencies for personal investment and trading. As of 2021, IG had a market value of £2.9 billion and offered trading in 17,000 investment markets. Regulated by the Financial Conduct Authority (FCA), IG is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

IG Markets Overview

IG Markets Overview
  • Founded In: 1974
  • Minimum Deposit: $250
  • Maximum Leverage: 200:1
  • Regulations: ASIC, FCA, FSA, NFA , AMF, FMA, MAS, DFSA
  • Trading platform: MT4, WebTrader, MobileTrader (MobileApp), ProRealTime
  • Account Types: Standard account, DMA Account
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, PayPal
  • US Traders:  Accepted 

ProsperityFX

ProsperityFX facilitates the trading of over 200 forex and CFDs on its MT4 platforms. Founded in 2020, the broker offers multiple account types, ECN raw spreads, fast executions, and 24/7 support. You can fund your account via several cryptos and there are no extra charges for deposits or withdrawals.

ProsperityFX Overview

ProsperityFX Overview
  • Founded In: 2020
  • Minimum Deposit: Between $25 and 500 (Standard Account: $50, Pro: $500, Var: $250, Mini: $25, Islamic:$50
  • Maximum Leverage: 500:1
  • Regulations: None 
  • Trading platform: MT4
  • Account Types: Standard, Pro, Var, Mini 
  • Payment Options: VISA, MasterCard, Bitcoin
  • US Traders: Accepted 

IG vs : ProsperityFX Features

IG

  • Trading Instruments: 17,000+ trading instruments including forex, indices, cryptocurrencies, shares, commodities, bonds, options, etc
  • Maximum leverage: 30:1 to 200:1 ( dependent on Jurisdiction and Tradable assets) 
  • Minimum Deposit: No Minimum Deposit. However, the Minimum requires $250 if traders use credit/debit cards or PayPal 
  • Account Types:  Ig Offers couple of account types including Standard Accounts, Limited Risk Accounts, Spread Betting Accounts, Options Trading Accounts, Turbo24 Accounts, Share Dealing Accounts, Professional Accounts, etc
  • PAMM/ MAM:  Available 
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

ProsperityFX

  • Trading Instruments: Forex, Indices, Commodities, Stocks, and Crypto
  • Maximum leverage: 500:1
  • Minimum Deposit: $20
  • Account Types:  4 (Standard, Pro, Var, Mini)
  • Trading Fees: Spread starting from 0.4 pips or commission from $1 to $8
  • PAMM/ MAM:  Not Available
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

IG vs ProsperityFX: Pros and Cons

IG Pros & Cons

Pros
  • Regulated by multiple top tire regulators like  NFA,  FCA, ASIC, FSA, AMF, FMA, MAS, DFSA 
  • Allows scalping, EA/ Robot Trading, News Trading
  • Offers web trading, mobile trading and ECN Trading 
  • IG's acquisition of tastytrade for $1 billion brought options trading and listed-derivatives (such as futures) trading to clients in the United States
  • 16,000 trading instruments, investments in IPOs and exchange-traded funds;
  • Quality choice of trading platforms, including MT4, WebTrader, MobileTrader (MobileApp), ProRealTime
  • Relatively good spreads, from 0.6-1 pips depending on the type of instrument;
  •  Offers passive investment programme ( MAM, PAMM accounts)
Cons
  • Relatively high Minimum deposit ( Min Deposit $250) 
  • Conservative leverage in some areas  ( The max leverage is 1:200)
  • IG charges $/£12/€14 per month after 24 months of inactivity 
  • Limited product range on MT4
  • High Stock CFD fees 

ProsperityFX Pros & Cons

Pros
  • Low Minimum Deposit - Starting from $10
  • Allow Crypto CFD Trading 
  • Demo Accounts are Available 
  • Higher Leverage for US, and EU clients. 
  • Allow Scalping, EA Trading and News Trading 
  • ProsperityFX Accepts Crypto Deposits
Cons
  • Offshore Broker with very limited information
  • Limited Deposit and Withdrawal Option 
  • Spread sometimes  widens during market volatility
  • Unregulated Forex broker  
  • No Managed Account Options

IG vs ProsperityFX: Side-by-Side Comparison

IG.com
Prosperityfx
Product
Product
IG.com
Prosperityfx
Founded In
Founded In
1974
2020
Founded By
Founded By
Stuart Wheeler
Lee Sullivan
Headquarters
Headquarters
London, UK
Kingstown, St. Vincent and the Grenadines
Regulations
Regulations
ASIC, FCA, JFSA, SFC (Hongkong), FSCA, MAS, FMA, GmbH, FINMA
None
Min Deposit
Min Deposit
None
$25
Max Leverage
Max Leverage
1:200
500:1
Tradable Assets
Tradable Assets
Forex, indices, Cryptocurrencies, Shares, Commodities
Trade Forex, Indices, Commodities and Cryptocurrencies with some of the tightest spreads available in the market
Fees
Fees
Spread starting from 0.1 pips
Spread from 0.8 pips
Platforms and Tools
Platforms and Tools
MT4, WebTrader, MobileTrader (MobileApp), ProRealTime
MT4
US Traders
US Traders
Allowed
Allowed

IG Vs ProsperityFX: Our Scores and Ratings

We rated both brokers, IG and ProsperityFX, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

IG:

9
Total Score
Regulation and Security (40%)10
Fees and Commissions (20%)9
Trading (15%)8
Trading tools (10%)8
Customer Support (10%)8
Trading Education (5%)8

ProsperityFX

3.6
ProsperityFx Scores
Regulation and Security (40%)1.5
Fees and Commissions (20%)5
Trading (15%)6.5
Trading tools (10%)1
Customer Support (10%)5
Trading Education (5%)9

Final Verdict :

Both IG and ProsperityFX offer similar trading services worldwide. However, there are differences in their regulations, reputations, and operations. IG is a regulated and trusted forex broker, supervised by top-tier regulatory authorities, including the ASIC, FCA, JFSA, SFC (Hongkong), FSCA, MAS, FMA, GmbH, FINMA. In contrast, ProsperityFX is an unregulated offshore forex broker. IG provides multiple trading platforms, including MT4, WebTrader, MobileTrader (MobileApp), ProRealTime, while ProsperityFX does not offer MT5 and uses only MT4 Trading Platform as its trading platform.

Since IG is licensed in the USA, it can accept U.S. clients. However, IG does not offer high leverage or CFD instruments due to regulatory obligations in the USA. In contrast, as an unregulated offshore broker, ProsperityFX can offer U.S. traders high leverage and CFD trading. Our score for IG is 9.3, and for ProsperityFX, it is 9 (according to our expert ratings, brokers that achieve a score of 8.00 or higher are considered safe and trustworthy).

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

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