In this IELTS vs TOEFL video Pascale Laurent, Exams Manager at the British Council in Brussels, describes the differences between IELTS and TOEFL.
She explains that both exams are in English but quite different in their structure. While TOEFL is in an Internet-based format, IELTS is a pen-and-paper-based exam and the Speaking Part is conducted face-to-face.
IELTS is also different in term of its modules. It has an academic module and a general one. In the video Laurent explains the purposes of both modules.
Depending on your personal preferences you can choose between the two exams, as most universities and business schools accept the scores of both test as evidence of your English language proficiency.
Also check out How to Choose between TOEFL and IELTS (Video)