I live in the UK, I am a beginner, do I choose XTB or IG?

I live in the UK, I am a beginner, do I choose XTB or IG

A reader asks: I live in the UK, I am a beginner, do I choose XTB or IG?

Without knowing your individual circumstances and what exactly you are looking for from a broker it’s not possible to answer that question directly, I am afraid.

The first point I should make is that trading, whilst appealing may not be appropriate for beginners. It’c very high risk and trading on margin mean that you can lose all your money very quickly if you get it wrong.

Trading is a high-risk type of speculation that should only really form a small percentage of your overall portfolio. If you want to make money in the markets I’m afraid the reality is that it is very boring and the people that win, Like Warren Buffett, just buy quality companies and hold them in the long term.

But, if you want to trade, the Good Money Guide is here to provide guides, reviews, and interviews with trusted providers.

So, here are some resources which should help you to make up your mind. Such as these guides and reviews on XTB and IG.

You can also read our exclusive CEO interviews with the bosses of both companies

Or if neither IG nor XTB seems right you can compare them to more brokerages and the trading accounts and services here.

You can also review our 2018 and 2019 awards which highlights who we (and the public) think are the best brokers for trading with.

Both brokers are decent and properly regulated by the FCA. As you are based in the UK you will also get the protection of the FSCS on your deposits should either broker default. You can keep an eye on the health of each broker by checking their share prices. IG is listed on the London Stock Exchange and XTB in Poland.

Personally I think that IG, pips it as one of the best all-round brokers, but XTB does offer some other excellent features like the ability to build a basket of your own assets.

As with all investing diversification is key and there is no reason to limit yourself to just one broker.

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Trading Risk Warning

ALL INVESTING INVOLVES RISK. Investing, Derivatives, Spread betting and CFD trading carry a high level of risk to your capital and can result in losses that exceed your initial deposit. They may not be suitable for everyone, so please ensure that you fully understand the risks involved.
ESMA & FCA Risk Warning – “CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 68-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk”