Comparison of IG vs Robinhood [ 2024 ]

The best brokers to invest in cryptocurrencies compared by their commissions, cryptos, security and much more. Here is theIG vs Robinhood comparison!

Your expert: Alejandro Borja

IG

Your expert: Xavier Tarrasó

Robinhood

Main points

Fees

Average 3,4/5

Regulated

FCA, ASIC

Demo account

Yes

Low 4,7/5

Fees

SEC, FINRA

Regulated

Demo account

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – IG offers competitive spreads and a transparent fee structure for crypto CFDs. However, the inactivity fee after 24 months can be a downside for less active traders .

4.1 – Robinhood offers commission-free trading, which is excellent for beginners. However, the inability to transfer cryptocurrencies off the platform and limited cryptocurrency options can be limiting .

Level

Average 3,4/5

Low 4,7/5

Brief explanation

IG’s commission structure for cryptocurrency trading primarily involves spreads and overnight funding fees. When trading CFDs on cryptocurrencies, IG charges a spread, which is the difference between the buy and sell price. This spread varies depending on the cryptocurrency being traded. For example, spreads for Bitcoin and Ethereum are typically lower due to higher liquidity, while smaller altcoins may have wider spreads. Additionally, IG charges an overnight funding fee if positions are held open past a certain time. This fee is based on the size of the position and the duration it is held. Unlike some exchanges, IG does not charge a direct commission per trade, making the spread the primary cost to consider. However, traders should be aware of the potential for overnight fees to accumulate if positions are held long-term. Overall, while IG’s fee structure can seem complex due to the combination of spreads and overnight funding fees, it remains competitive for those who trade actively and manage their positions effectively.

Robinhood Crypto does not charge any commission fees for trading cryptocurrencies on its platform. Users can buy and sell 15 different cryptocurrencies without incurring additional costs, making it an attractive option for those looking to trade without worrying about hidden fees. However, while Robinhood does not impose direct trading fees, it passes on network fees from crypto miners and validators to users when processing blockchain transactions. Additionally, Robinhood makes money through payment for order flow (PFOF), which involves selling user order information to market makers and may not always result in the best execution prices for trades. In summary, Robinhood Crypto offers commission-free trading, but users should be aware of network fees and the potential implications of PFOF on trade execution prices .

IG

Year Founded: IG was founded in 1974, giving it a long-standing reputation and extensive experience in the trading industry. This longevity demonstrates its stability and reliability as a trading platform.
Number of Users: IG serves over 239,000 clients worldwide, reflecting its widespread acceptance and trust among traders. A large user base often indicates a platform's credibility and reliability.
Security Methods: IG employs top-tier security measures, including two-factor authentication (2FA), encryption protocols, and segregated client funds, ensuring that user data and assets are well-protected.
Reputation and Reviews: IG has consistently received positive reviews and high ratings from users and industry experts alike. Its commitment to transparency, customer service, and innovative tools has earned it numerous awards and recognitions.
Regulation: IG is regulated by several top financial authorities, including the UK's Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS). These stringent regulatory standards provide additional assurance of its legitimacy and trustworthiness.

Robinhood

Year founded: Robinhood was founded in 2013, which provides a decade-long track record in the financial services industry.
Number of users: The platform boasts over 22 million users, reflecting its popularity and trust among investors.
Security methods: Robinhood employs industry-standard security measures, including two-factor authentication (2FA) and encryption, to protect user data and funds.
Regulation: Robinhood is regulated by top-tier authorities such as the SEC and FINRA, ensuring compliance with stringent financial regulations.
Reputation and Reviews: The platform has received generally positive reviews for its ease of use and innovative commission-free trading model, though it has faced some criticism regarding customer service.

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Product selection

Native token

IG does not have a native token.

Robinhood does not have a native token.

Earns

IG does not provide staking or earning options for cryptocurrencies. It offers crypto trading primarily through CFDs .

Robinhood does not offer staking or other earning options for cryptocurrencies. The platform is geared towards trading a select few cryptocurrencies .

NFT marketplace

IG does not have an NFT marketplace.

Robinhood does not have an NFT marketplace.

Cripto/debit card

IG does not provide a card for its clients .

Robinhood provides a debit card that can be used anywhere Mastercard is accepted .

Payment methods

Transfers

Yes, IG accepts bank transfers for both deposits and withdrawals .

Yes, Robinhood accepts bank transfers for both deposits and withdrawals .

Mastercard

Yes, IG accepts Mastercard for deposits.

No, Robinhood does not accept Mastercard for deposits.

Wire transfer

Wise is supported as a payment method .

Wise is not mentioned as a supported payment method .

Card

Yes, IG accepts credit/debit cards (Visa, Mastercard) .

No, Robinhood does not accept credit/debit cards for deposits, but it offers a debit card for use .

Comparative table

IG	Features	Robinhood
IG’s low minimum trade size makes it accessible for beginners looking to start small.	Minimum Trade	Robinhood Crypto allows users to start trading with as little as $1, making it highly accessible to beginners and those with limited capital.
While IG offers competitive spreads, its fee structure can be confusing and relatively high due to additional charges.	Trading and Transaction Fees	The platform is known for its commission-free trading, which means users can trade cryptocurrencies without incurring additional costs, making it very cost-effective.
IG provides a limited selection of cryptocurrencies, focusing primarily on major coins like Bitcoin and Ethereum.	Number of Cryptocurrencies	While the platform supports 15 cryptocurrencies, this number is relatively low compared to other exchanges that offer a broader range of digital assets.
The platform mainly supports crypto-to-fiat trading, with fewer options for trading between different cryptocurrencies.	Crypto-to-Crypto Trading Pairs	Robinhood does not support direct trading between different cryptocurrencies, limiting trading flexibility.
IG excels in transparency, providing clear and detailed information about fees, regulations, and trading options.	Website Transparency	The website is user-friendly and provides clear information, but it could benefit from more detailed explanations on certain services and policies.
IG does not provide a card for its clients .	Credit/Debit Card	Robinhood provides a debit card that can be used anywhere Mastercard is accepted .
IG does not offer dedicated crypto wallets, as it focuses on CFD trading rather than actual cryptocurrency ownership.	Storage Offering	Robinhood does not support external wallets, meaning users cannot transfer their cryptocurrencies off the platform, which is a significant limitation for those seeking more control over their assets.
There are no staking or reward programs for holding cryptocurrencies on IG.	Staking and Rewards	The platform does not offer staking or rewards programs, which are features available on many other cryptocurrency exchanges.
Both the mobile app and desktop platform are well-designed, offering advanced trading tools and features.	Mobile App and Desktop	Robinhood provides an excellent mobile and desktop trading experience, known for its seamless integration and user-friendly design.
IG provides responsive and helpful customer service through various channels, including phone, email, and live chat.	Customer Service	Customer service has been a point of criticism, with reports of slow response times and limited support options, which can be frustrating for users needing immediate assistance.
IG offers multiple deposit and withdrawal methods, though some may incur fees, and processing times can vary.	Deposit and Withdraw	Deposits and withdrawals are straightforward, but the lack of support for transferring cryptocurrencies to external wallets remains a drawback.

Key features

Analysis tools

IG provides advanced charting tools, technical indicators, and a highly functional mobile app. They also offer educational resources and risk management tools, including stop and limit orders .

Robinhood offers advanced charting and screener tools, with in-depth charting, dozens of technical indicators, and market data from multiple sources. However, their crypto trading is separated into a different app, Webull Pay, which continues the same features .

Mobile APP

Yes, IG offers the IG Trading app, which is highly regarded and packed with features for both casual and advanced traders .

Yes, Robinhood has a highly rated mobile app that allows users to trade cryptocurrencies along with other assets .

Security

IG is highly trusted and regulated by multiple top-tier authorities, including the FCA and ASIC. They offer robust security features such as two-factor authentication and SSL encryption. IG also provides negative balance protection, ensuring clients do not lose more than their account balance.

Robinhood is regulated by the SEC and FINRA, providing a high level of investor protection. They offer SIPC insurance for securities up to $500,000, including a $250,000 cash limit. However, they do not provide negative balance protection.

Additional features

IG offers a broad range of cryptocurrencies for trading via CFDs. Their platform includes robust charting tools, various order types, and 24/7 customer support. IG is regulated by top-tier authorities, ensuring a high level of security and reliability. However, their services might not be available to all regions, and they do not provide direct ownership of cryptocurrencies .

Robinhood provides commission-free trading on a selection of cryptocurrencies like Bitcoin, Ethereum, and Dogecoin through their mobile app. They offer a user-friendly platform with features such as instant deposits, real-time data, and access to margin accounts with Robinhood Gold. However, their crypto services are limited compared to specialized crypto exchanges .

Anonymity

IG requires personal identification and verification documents for account opening, thus not supporting anonymous accounts .

Robinhood does not offer anonymous accounts. Users must provide personal details and complete verification steps .

Key points

Available cryptocurrencies

IG offers trading in cryptocurrency CFDs. The available cryptocurrencies are Ripple (XRP), Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), NEO, Stellar (XLM), and EOS.

Robinhood supports trading in a limited number of cryptocurrencies. The available cryptocurrencies are Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Dogecoin (DOGE), Ethereum (ETH), Ethereum Classic (ETC), and Litecoin (LTC).

User-friendliness

IG’s platform is well-regarded for its usability, offering a straightforward interface for trading cryptocurrencies. The platform provides access to various educational resources and customer support, making it easier for new traders to get started. IG’s robust regulatory framework and security measures also contribute to a trustworthy trading environment .

Robinhood offers a sleek and user-friendly mobile app that makes it easy for users to trade cryptocurrencies alongside other assets. The platform’s simplicity and commission-free trading are major advantages, though it lacks some advanced features and educational tools. Additionally, Robinhood does not allow users to withdraw their crypto holdings to external wallets, which could be a limitation for some traders .

Value for money

IG provides excellent value for money with competitive fees and a wide range of tradable cryptocurrencies. However, its fee structure can be complex, and occasional traders may find some charges, such as inactivity fees, to be less appealing.

Robinhood is renowned for its commission-free trading, providing excellent value for money, especially for beginners. However, its limited cryptocurrency offerings and inability to transfer crypto out of the platform may limit its appeal for more advanced users.

Countries of operation

United Kingdom, European Union, Australia, United States, Singapore .

United States (in most states) .

Best for

IG is suitable for traders who value a well-established, regulated platform with a range of educational resources. It’s best for those who prefer trading cryptocurrency CFDs and are looking for a comprehensive trading experience with robust security measures.

Robinhood is perfect for beginners and younger investors who want an easy-to-use, commission-free platform to trade a limited range of cryptocurrencies. Its integration with stock and ETF trading makes it convenient for those looking to diversify their investments.

Account

Trading

IG provides a robust platform for trading crypto CFDs, offering a variety of cryptocurrencies with leverage options. It is well-regulated and provides excellent trading tools, making it suitable for serious traders.

Robinhood allows direct cryptocurrency trading with zero commissions, making it an attractive option for retail investors. However, it offers a limited range of cryptocurrencies compared to other platforms.

Deposit and withdrawal

IG offers free deposits and withdrawals through bank transfers, credit/debit cards, and PayPal. The process is quick and efficient, with most transactions processed within a few business days.

Robinhood allows deposits and withdrawals via bank transfers. The process is straightforward and free of charge, but the limited options can be a drawback for some users.

Account opening process

IG offers a smooth and fast account opening process. Users fill out an online application form, provide personal and financial information, and submit verification documents. Accounts are usually approved within a day.

Robinhood offers an easy and quick account opening process. Users complete an online application, provide personal information, and verify their identity. The process is fully digital and accounts are typically approved within a day.

KYC required?

KYC verification is compulsory at IG. Users are required to submit identification documents and proof of address before they can start trading.

Yes, KYC is required at Robinhood. Users must submit personal identification documents and proof of address to verify their accounts.

Customer Service

IG offers comprehensive customer support available 24/5 through phone, email, and live chat. The support team is known for being efficient and knowledgeable, making it easy for users to get assistance.

Robinhood offers customer support primarily through email and in-app messaging. They have recently introduced phone support, but response times can vary. The support team is helpful, though some users report delays in getting issues resolved.

Security

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I would recommend IG for its robust and secure trading platform. IG’s long-standing reputation, coupled with its strong regulatory oversight, makes it a reliable choice for cryptocurrency trading. The platform’s user-friendly interface and comprehensive educational resources are perfect for beginners, while the advanced trading tools cater to more experienced traders. However, it’s important to be aware of the complex fee structure and limited selection of cryptocurrencies. Overall, IG is a solid option for those looking to trade cryptocurrencies through a well-established broker.

Xavier Tarrasó

As an expert on our website, I recommend Robinhood Crypto for its ease of use and commission-free trading. It’s an excellent choice for beginners who want to start trading cryptocurrencies with minimal initial investment. However, be mindful of its limitations, such as the lack of support for external wallets and limited customer service. Overall, it’s a solid platform for those new to crypto trading, offering a straightforward and accessible entry into the market.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Comparison of IG vs Robinhood [ 2024 ]

IG

Robinhood

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

IG

Robinhood

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives IG and Robinhood