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Interactive Brokers vs FOREX.com 2024

ForexBrokers.com

Written by ForexBrokers.com

August 29, 2023

Is Interactive Brokers better than FOREX.com? In our analysis of 23 international regulators across 62 of the best forex brokers, Interactive Brokers is considered Highly Trusted, with an overall Trust Score of 99 out of 99. FOREX.com is considered Highly Trusted, with an overall Trust Score of 99 out of 99. Learn more about Trust Score.

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Compare

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Overall Rating Interactive Brokers FOREX.com
Overall Rating info 5/5 Stars 5/5 Stars
Commissions & Fees 5/5 Stars 4.5/5 Stars
Offering of Investments 5/5 Stars 5/5 Stars
Platform & Tools 5/5 Stars 5/5 Stars
Mobile Trading 5/5 Stars 5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 5/5 Stars 5/5 Stars
Trust Score info 99 99
Winner check_circle
Review Interactive Brokers Review FOREX.com Review
Broker Screenshots Interactive Brokers FOREX.com
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation Interactive Brokers FOREX.com
Trust Score info 99 99
Year Founded info 1977 1999
Publicly Traded (Listed) info Yes Yes
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 9 7
Tier-2 Licenses info 1 1
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 1
Tier-1 Licenses (Highly Trusted) Interactive Brokers FOREX.com
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info Yes Yes
Hong Kong (SFC Authorised) info Yes No
Japan (SFC Authorised) info Yes Yes
Singapore (MAS Authorised) info Yes Yes
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info Yes Yes
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses (Trusted) Interactive Brokers FOREX.com
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info No Yes
India (SEBI Authorised) info Yes No
Jordan (JSC Authorised) info No No
Investments Interactive Brokers FOREX.com
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 8500 5500
Forex Pairs (Total) info 90 91
U.S. Stock Trading (Non CFD) info Yes No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info No No
Cryptocurrency (Physical) info Yes No
Cryptocurrency (Derivative) info No Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).
Cost Interactive Brokers FOREX.com
Average Spread EUR/USD - Standard info 0.63 info 1.4 info
All-in Cost EUR/USD - Active info 0.63 info 0.83 info
Active Trader or VIP Discounts info Yes Yes
Inactivity Fee info No Yes
Execution: Agency Broker info Yes No
Execution: Market Maker info No Yes
Funding Interactive Brokers FOREX.com
Minimum Deposit info $0 $100
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info No No
Visa/Mastercard (Credit/Debit) info No Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Trading Platforms Interactive Brokers FOREX.com
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info No No
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools Interactive Brokers FOREX.com
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 640 20
Charting - Indicators / Studies (Total) info 128 88
Charting - Drawing Tools (Total) info 6 239
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading Interactive Brokers FOREX.com
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info Yes Yes
Mobile Charting - Indicators / Studies info 70 88
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info No Yes
Mobile Economic Calendar info Yes Yes
Research Interactive Brokers FOREX.com
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No No
Trading Central (Recognia) info Yes Yes
TipRanks info Yes No
Social Sentiment - Currency Pairs info Yes Yes
Economic Calendar info Yes Yes
Education Interactive Brokers FOREX.com
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes No
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs Interactive Brokers FOREX.com
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review Interactive Brokers Review FOREX.com Review
Overall Interactive Brokers FOREX.com
Overall Rating info 5/5 Stars 5/5 Stars
Commissions & Fees 5/5 Stars 4.5/5 Stars
Offering of Investments 5/5 Stars 5/5 Stars
Platform & Tools 5/5 Stars 5/5 Stars
Mobile Trading 5/5 Stars 5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 5/5 Stars 5/5 Stars
Trust Score info 99 99
Winner check_circle
Review Interactive Brokers Review FOREX.com Review
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Interactive Brokers vs FOREX.com Comparison

Weโ€™ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare Interactive Brokers vs FOREX.com.

Can I trust Interactive Brokers?

Interactive Brokers is publicly traded, does not operate a bank, and is authorised by nine Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). Interactive Brokers is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Canadian Investment Regulatory Organization (CIRO), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA), Financial Conduct Authority (FCA), Commodity Futures Trading Commission (CFTC), and regulated in the European Union via the MiFID passporting system.

Can I trust FOREX.com?

FOREX.com is publicly traded, does not operate a bank, and is authorised by seven Tier-1 regulators (Highly Trusted), one Tier-2 regulators (Trusted), zero tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). FOREX.com is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA), Canadian Investment Regulatory Organization (CIRO), Japanese Financial Services Authority (JFSA), Commodity Futures Trading Commission (CFTC), and regulated in the European Union via the MiFID passporting system.

Is Interactive Brokers good?

Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.

Is FOREX.com good?

FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms โ€“ alongside limited access to MetaTrader.

What is the minimum deposit requirement for opening an account with Interactive Brokers?

To open a trading account with Interactive Brokers, you'll need to make an initial minimum deposit of $0.

What is the minimum deposit requirement for opening an account with FOREX.com?

FOREX.com requires a minimum deposit of $100 before you can open an account and start trading.

What funding options does each broker offer?

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Interactive Brokers offers Bank Wire (Deposit/Withdraw) for banking, whereas FOREX.com provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw) and PayPal (Deposit/Withdraw). Neither have Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Does Interactive Brokers or FOREX.com offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that Interactive Brokers offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

Is Interactive Brokers or FOREX.com safer for forex and CFDs trading?

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Interactive Brokers holds 9 global Tier-1 licenses, while FOREX.com holds 7. Both Interactive Brokers and FOREX.com hold 1 global Tier-2 licenses.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Interactive Brokers and FOREX.com have earned the same Trust Score (99).

Which trading platform is better: Interactive Brokers or FOREX.com?

To compare the trading platforms of both Interactive Brokers and FOREX.com, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Interactive Brokers offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers to provide better mobile trading apps.

Hereโ€™s what trading platforms are available at Interactive Brokers:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - No
  • MT5 - No
  • ZuluTrade - No
  • TradingView - Yes

Hereโ€™s what trading platforms are available at FOREX.com:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - Yes
  • MT5 - Yes
  • ZuluTrade - No
  • TradingView - Yes

What about MetaTrader? How about copy trading?

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. FOREX.com offers MetaTrader 4 (MT4), while Interactive Brokers does not. Forex traders also appreciate the ability to engage in social copy trading. Copy trading is not offered by either broker.

What can I trade with each broker?

FOREX.com provides traders 91 currency pairs (e.g., EUR/USD) compared to Interactive Brokers's 90 available pairs. If you are interested in trading CFDs, Interactive Brokers offers traders access to 8500 CFDs, while FOREX.com offers access to 5500 CFDs; so Interactive Brokers offers 3000 more CFDs than FOREX.com.

We found in our testing that Interactive Brokers offers a more diverse selection of investment options than FOREX.com, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD) and Cryptocurrency (Physical). Neither have Social Trading / Copy Trading and Spread Betting.

Overall winner: Interactive Brokers

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.


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