Interactive Brokers vs Swissquote 2024

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.

Swissquote is a publicly traded company, operates a regulated bank, and is authorised by five Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). Swissquote is authorised by the following Tier-1 regulators: Securities Futures Commission (SFC), Monetary Authority of Sinagpore (MAS), Swiss Financial Market Supervisory Authority (FINMA), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.

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.

Traders choose Swissquote for its quality research and vast multi-asset offering – as long as they are willing to pay a premium to have their brokerage account held with a Swiss bank.

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

Swissquote requires a minimum deposit of $1000 before you can open an account and start trading.

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 Swissquote provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw). Neither have Neteller (Deposit/Withdraw).

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.

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 Swissquote holds 5. Both Interactive Brokers and Swissquote 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 Swissquote have earned the same Trust Score (99).

To compare the trading platforms of both Interactive Brokers and Swissquote, 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.

Here’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

Here’s what trading platforms are available at Swissquote:

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

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

Interactive Brokers provides traders 90 currency pairs (e.g., EUR/USD) compared to Swissquote's 80 available pairs. If you are interested in trading CFDs, Interactive Brokers offers traders access to 8500 CFDs, while Swissquote offers access to 472 CFDs; so Interactive Brokers offers 8028 more CFDs than Swissquote.

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