General Breakdown. This graph highlights the key scores from each Macro, uniquely calculated by us.
- Interactive Brokers
Tier 1 Regulation
Tier 2 Regulation
Tier 3 Regulation
Deposit and Withdrawal
Costs and Fees
Forex Fixed Spreads
Forex Variable Spreads
Fees on Stocks
Fees on Indices
Fees on Cryptocurrencies
Special Trading Conditions
Available Trading Techniques
Forex.com vs Interactive Brokers: A Comparison Summary
Choosing the right broker is an important decision for any trader. In this comparison, we will analyse Forex.com and Interactive Brokers, two popular brokers with different strengths and weaknesses.
Both brokers have high-security ratings and are regulated by multiple authorities around the world. Forex.com is regulated by ten authorities, while Interactive Brokers is regulated by eleven. However, Forex.com is available in more countries, including the USA.
Forex.com offers a demo account with a duration of 30 days and virtual funds of $10,000. The virtual funds can be restored by contacting customer support. In contrast, Interactive Brokers offers an unlimited demo account with virtual funds of $1,000,000 that can also be restored by contacting customer support.
Forex.com has a minimum deposit of $100 and offers various account types, including standard, MT4 and MT5 accounts, commission accounts, and professional accounts. Interactive Brokers has no minimum deposit, but they require at least $2,000 to trade with margin. They offer various account types, including standard, cash, margin, and professional accounts.
Neither Forex.com nor Interactive Brokers offer social-copy trading.
Forex.com offers 80 forex pairs, 12 commodities, 18 indices, 80 cryptocurrencies, and 220+ stocks. Interactive Brokers offers 100+ forex pairs, 10 commodities, 23 cryptocurrencies, 5000+ stocks, 50+ ETFs, and 20 futures and options. Interactive Brokers offers a wider range of trading assets, making it a good option for both short and long-term investing on every market.
Forex.com has variable spreads and offers fixed spreads only on commodities. Spreads start from 0.2 pips on forex, but it can be higher depending on the trader’s country. Interactive Brokers’ spreads are also variable, with spreads starting from 0.1 pips on forex and commissions of up to $7 per lot traded. Interactive Brokers offers low fees with financing rates from 0.75% and no commissions on stocks and ETFs with the IBKR Lite Plan.
Forex.com offers a proprietary platform available via web and mobile devices, as well as MT4 and MT5 platforms. Interactive Brokers offers a proprietary platform available as desktop, webtrader, and mobile. All platforms offered by Interactive Brokers allow traders to engage in algo trading, and they also offer VPS services, FIX API, and TWS API integration.
Both brokers offer a wide range of educational materials for both beginners and advanced traders. Forex.com provides detailed guides and tutorials, while Interactive Brokers offers tutorial videos, a trader’s academy, and much more. Both brokers have easy-to-contact customer support via email, telephone, and live chat. Forex.com only offers English and Chinese customer support, while Interactive Brokers offers support in 8 languages.
In conclusion, both Forex.com and Interactive Brokers are excellent brokers with different strengths and weaknesses. Forex.com is a good option for short-term trading and price speculation, while Interactive Brokers is suitable for both short and long-term investing on every market. Forex.com has lower minimum deposits, a wider range of account types, and a more user-friendly platform, while Interactive Brokers offers a wider range of trading assets and lower fees. Ultimately, the choice between the two brokers will depend on the trader’s specific needs and preferences.