Comparison of IG vs TradeStation [ 2024 ]

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

Your expert: Alejandro Borja

IG

Your expert: Xavier Tarrasó

TradeStation

Main points

Fees

Average 3,4/5

Regulated

FCA, ASIC

Demo account

Yes

Low 4,2/5

Fees

FINRA, SEC

Regulated

Yes

Demo account

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

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 .

3.9 – TradeStation charges competitive volume-based fees starting at $2 + 0.65% for small trades. The complex fee structure and $10 monthly inactivity fee are notable drawbacks .

Level

Average 3,4/5

Low 4,2/5

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.

TradeStation charges competitive fees for cryptocurrency trading, though there are some costs to be aware of. Trading commissions are based on a tiered structure, starting at 0.30% per trade for monthly volumes up to $100,000 and decreasing to 0.20% for volumes above $1 million. This makes TradeStation suitable for both small and large traders. Additionally, there is a spread markup, which is the difference between the bid and ask prices, typically ranging from 0.5% to 1%. The platform also charges an inactivity fee of $50 if there is no trading activity for 12 months, and wire transfer withdrawal fees are $25 for US clients and $35 for international clients. These fees can add up, especially for infrequent traders. Despite these costs, TradeStation’s comprehensive tools and security measures can justify the expenses for those who prioritize advanced trading capabilities and regulatory compliance.

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.

TradeStation

Year Founded: Established in 1982, TradeStation has a long track record of stability and innovation in the brokerage industry.
Security Methods: TradeStation employs robust security measures, including two-factor authentication and encryption, to protect user data and assets.
Regulation and Licensing: TradeStation is regulated by top-tier US authorities such as the SEC and FINRA, ensuring compliance with strict financial standards.
Reputation and Reviews: TradeStation has consistently received positive reviews from users and industry experts for its advanced trading tools and comprehensive platform.
Transparency: As a subsidiary of Monex Group, a publicly listed company, TradeStation maintains a high level of transparency by regularly publishing financial statements and complying with rigorous disclosure requirements.

Guide sponsored by the best exchange

eToro

eToro Special Offer*

Earn up to 4.90% APY on uninvested cash with eToro USA.

Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

IG does not have a native token.

TradeStation does not have a native token.

Earns

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

TradeStation does not provide staking or earning options with cryptocurrencies. The platform allows direct trading of certain cryptocurrencies .

NFT marketplace

IG does not have an NFT marketplace.

TradeStation does not have an NFT marketplace.

Cripto/debit card

IG does not provide a card for its clients .

TradeStation does not have a card for its clients .

Payment methods

Transfers

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

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

Mastercard

Yes, IG accepts Mastercard for deposits.

No, TradeStation 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, TradeStation does not accept credit/debit cards .

Comparative table

IG	Features	TradeStation
IG’s low minimum trade size makes it accessible for beginners looking to start small.	Minimum Trade	TradeStation allows for low minimum trades, making it accessible for beginners.
While IG offers competitive spreads, its fee structure can be confusing and relatively high due to additional charges.	Trading and Transaction Fees	Fees are higher than some competitors, especially for withdrawals.
IG provides a limited selection of cryptocurrencies, focusing primarily on major coins like Bitcoin and Ethereum.	Number of Cryptocurrencies	Only offers Bitcoin, Ethereum, and USD Coin.
The platform mainly supports crypto-to-fiat trading, with fewer options for trading between different cryptocurrencies.	Crypto-to-Crypto Trading Pairs	Limited to major coins, restricting diversification opportunities.
IG excels in transparency, providing clear and detailed information about fees, regulations, and trading options.	Website Transparency	TradeStation provides clear and detailed information about its services and fees.
IG does not provide a card for its clients .	Credit/Debit Card	TradeStation does not have a card for its clients .
IG does not offer dedicated crypto wallets, as it focuses on CFD trading rather than actual cryptocurrency ownership.	Storage Offering	Utilizes secure storage solutions with BitGo for crypto assets.
There are no staking or reward programs for holding cryptocurrencies on IG.	Staking and Rewards	No staking or rewards programs available.
Both the mobile app and desktop platform are well-designed, offering advanced trading tools and features.	Mobile App and Desktop	Both platforms are user-friendly and feature-rich, but the mobile app has fewer features.
IG provides responsive and helpful customer service through various channels, including phone, email, and live chat.	Customer Service	Customer service is decent but has room for improvement in response times and support quality.
IG offers multiple deposit and withdrawal methods, though some may incur fees, and processing times can vary.	Deposit and Withdraw	Limited methods and high fees for withdrawals, making it less user-friendly.

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 .

TradeStation provides a powerful desktop trading platform with customizable sophisticated analysis tools, custom charts, and a detailed order book for crypto trading. They also offer mobile app trading with improved charting capabilities .

Mobile APP

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

Yes, TradeStation offers a mobile app that includes advanced charting, trading, and analysis tools .

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.

TradeStation is regulated by the SEC and FINRA, providing high investor protection levels. They offer SIPC insurance but do not provide negative balance protection. Their parent company is publicly listed, enhancing transparency.

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 .

TradeStation offers direct cryptocurrency trading for a limited selection of coins, including Bitcoin, Ethereum, and USD Coin. Their platform includes advanced features like strategy development and technical analysis through the TradeStation Master Class. They also support crypto trading in IRAs and provide competitive volume-based fees. However, their crypto offerings have decreased in recent years .

Anonymity

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

Anonymous accounts are not supported on TradeStation. Personal and financial information along with verification documents are required.

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.

TradeStation offers trading in a few cryptocurrencies. The supported cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC) .

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 .

TradeStation provides a powerful and intuitive platform for trading cryptocurrencies. The platform is designed to cater to both novice and experienced traders, with a range of tools and features that enhance the trading experience. While the selection of cryptocurrencies is limited, the platform’s overall usability and support make it a solid choice for crypto trading.

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.

TradeStation offers good value with competitive volume-based fees and a range of trading tools. Its inactivity fee of $10 per month and the administrative fee for IRAs might be less attractive for occasional traders.

Countries of operation

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

United States, available to most other countries except restricted regions like North Korea and Sudan .

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.

TradeStation is suited for experienced traders who value advanced trading tools and direct access to crypto trading. Its detailed order book and professional-grade platform make it ideal for those who want to trade and analyze cryptocurrencies deeply.

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.

TradeStation offers a limited selection of cryptocurrencies but provides a powerful trading platform with advanced tools and features. It is suitable for traders who want to integrate crypto trading with other financial products.

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.

TradeStation supports deposits and withdrawals primarily via bank transfers. While the process is secure, it can be slower and more expensive compared to other brokers, with fees for wire transfers.

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.

Opening an account with TradeStation is fully digital and user-friendly. Users need to provide personal and financial information and submit verification documents. The process usually takes one to two business days for approval.

KYC required?

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

TradeStation requires KYC verification. Users need to provide personal identification documents and proof of address before they can start trading.

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.

TradeStation provides customer support via phone, email, and live chat. The support is available during market hours and is generally responsive, though some users find the service to be slower during peak times.

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 in the crypto market, I find TradeStation to be a solid platform for those who prioritize security and advanced trading tools. While its cryptocurrency offerings are limited to Bitcoin, Ethereum, and USD Coin, the platform excels in providing a highly regulated environment and robust trading features. TradeStation’s user-friendly interface and comprehensive educational resources make it a suitable choice for both seasoned traders and those looking to gain deeper insights into crypto trading. However, the high withdrawal fees and limited deposit options are areas that could be improved to enhance the overall user experience.

Read IG review

View all comparisons against IG

Read TradeStation review

View all comparisons against TradeStation

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 TradeStation [ 2024 ]

IG

TradeStation

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

IG

TradeStation

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 TradeStation