FXCM vs Interactive Brokers: Comparison and Analysis

Security and Rating

Both FXCM and Interactive Brokers are highly regulated, with FXCM being regulated by FCA, ASIC, FSCA, CySEC, ISA, and IIROC, while Interactive Brokers is regulated by FCA, several EU regulators (CSSF, CBI and the Central Bank of Hungary), ASIC, HKSFC, SEBI, IIROC, FFAJ, MAS, SEC and CFTC. Both brokers have a high security rating, with FXCM having a rating of 94 and Interactive Brokers having a rating of 95.

Demo Account

Both FXCM and Interactive Brokers offer unlimited demo accounts with virtual funds. FXCM offers a demo account with $50,000 virtual funds, while Interactive Brokers offers a demo account with $1,000,000 virtual funds. Multiple demo accounts can be opened with the same email address for FXCM, while the virtual funds of the Interactive Brokers demo account can be restored by contacting customer support.

Minimum Deposit

FXCM requires a minimum deposit of $50 for non-EU clients and $300 for UK and EU clients, while Interactive Brokers doesn’t require a minimum deposit, but requires at least $2,000 to trade with margin.

Social Trading and Copy Trading

FXCM allows traders to engage in copy and social trading through third-party platforms such as ZuluTrade and Tradingview, while Interactive Brokers doesn’t offer social or copy trading.

CFD and Forex Trading

FXCM offers a range of CFD trading options, including forex, commodities, indices, crypto, and stocks. Interactive Brokers offers a wide range of trading assets that can be traded as CFDs, as real, as options, and as futures, including forex, commodities, crypto, stocks, ETFs, and futures and options.

Stock Market

FXCM offers 15 stocks, while Interactive Brokers offers over 5,000 stocks. Interactive Brokers offers very low fees with financing rates from 0.75% and no commissions on stocks and ETFs with the IBKR Lite Plan. With the IBKR Pro Plan, commissions start from $0,0005 per share or ETF.

Cryptocurrency Trading

FXCM offers 7 crypto assets for trading, while Interactive Brokers offers 23 crypto assets for trading.

Platforms

FXCM offers the Trading Station proprietary platform, which is available via desktop, web, and mobile, as well as the MetaTrader 4 platform, which is available via web, desktop, and mobile. Interactive Brokers offers a proprietary trading platform available as desktop, webtrader, and mobile, as well as VPS services, FIX API, and TWS API integration.

Education

Both FXCM and Interactive Brokers offer a range of educational resources for traders. FXCM provides FAQs, trading guides, and a research section, while Interactive Brokers offers a wide range of material for both beginners and advanced traders, including tutorial videos, IBKR blog, trader’s academy, and much more. Customer care is easy to contact via phone, email, and live chat for both brokers, with Interactive Brokers offering support in 8 languages.

In conclusion, both FXCM and Interactive Brokers offer a range of features and benefits for traders. FXCM is a good choice for traders who want to invest in a range of CFD trading options, including forex, commodities, indices, crypto, and stocks, as well as for short-term trading. Interactive Brokers is a good choice for traders who want to invest in a wide range of trading assets, including forex, commodities, crypto, stocks, ETFs, and futures and options, as well as for both short and long-term investing. Interactive Brokers offers very low fees with financing rates from 0.75% and no commissions on stocks and ETFs with the IBKR Lite Plan. Ultimately, the choice between the two brokers will depend on your individual needs and preferences.