Home Brokers comparison Interactive Brokers vs. FOREX.com

Interactive Brokers vs. FOREX.com

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Interactive Brokers and Forex.com are leading online brokers with top-tier regulations. Interactive Brokers is a secure broker with licenses from the IIROC, FCA, MAS, FSA, SFC, FINMA, and CFTC. It has a proprietary platform and a professional app with a demo account. Interactive Brokers is a good choice for professionals as it has premium educational and research tools. 

Forex.com is the leading forex broker with licenses from the IIROC, FCA, FSA, and CFTC. It offers straightforward trading platforms and apps with some educational tools. Forex.com is a top choice for active traders. 

Both brokers have advantages and disadvantages. This article discusses the differences between Interactive Brokers and Forex.com. 

Broker NameInteractive BrokersForex.com
Year Founded19782001
RegulationSEC (USA), FCA (UK)
CIMA, CFTC, IIROC, FSA, FCA & NFA 
Tradable AssetsStock, ETF, Forex, Fund, Bond, Options, Futures,
CFD, Crypto, Warrants, Structured Products
Cryptocurrency, stocks, CFD, futures & forex 
Min Deposit$0$100
Min Trade$1
PlatformsTraders Workstation (TWS)Desktop, Mobile
DepositYou can open account without depositFree of charge
WithdrawalsFree of charge for the first withdrawal in calendar monthFree of charge

Top findings from the Interactive Brokers vs. Forex.com review:  

  1. Interactive Brokers is a leading online broker with professional platforms and tools. 
  1. Forex.com is a leading forex broker with an excellent forex trading app. 
  1. Both brokers offer a demo account, a proprietary platform, and an active trader discount. 

We recommend Interactive Brokers for traders looking for professional platforms and tools. Forex.com is an excellent choice for forex trading for both experienced and beginner traders. 

Overall Rating

FeatureInteractive BrokersFOREX.com
Overall4.54.5
Commissions & Fees4.53.5
Offering of Investments55
Platforms & Tools4.54.5
Mobile Trading44.5
Research4.54
Education44
Trust Score9493
WinnerYES
66% of retail CFD accounts lose money79% of retail CFD accounts lose money

Level of experience  

Interactive Brokers offers some research tools, including forex news and Trading Central. It has educational materials, including webinars and investor dictionaries. Interactive Brokers has premium trading platforms and a virtual trading account. 

Forex.com provides some education and research data, including forex education. Its learning and research tools are focused on forex trading. Forex.com is a top choice for forex traders of all levels of experience. 

Fees  

The minimum initial deposit at Forex.com is $100, while Interactive Brokers doesn’t charge an initial fee. Both brokers offer an active trader discount. 

Assets  

Interactive Brokers has 105 forex currency pairs, while Forex.com provides 91 pairs. Interactive Brokers offers 7400 CFDs, while Forex.com has 4500 available CFDs. 

Trading platform  

Interactive Brokers offers an excellent online trading experience with desktop and web platforms. It has many research and education tools, including advanced trading videos. Interactive Brokers is recommended for experienced traders, as its platforms are challenging for beginners. 

Forex.com offers a leading forex trading app, desktop, and web platform. It has MT4 and MT5 with many trading tools. These include a demo account, standard alerts, and some research tools. It is a good choice for traders of all levels of experience who want to improve their forex trading knowledge. 

Banking services  

Banking services contribute to a premium trading experience. Interactive Brokers offer bank transfers as their funding options. Forex.com has bank transfers, credit/debit cards, and PayPal funding. 

Final verdict 

Interactive Brokers and Forex.com are leading online brokers. Both have strengths and weaknesses depending on your trading knowledge and skills. Professionals choose Interactive Brokers because of its excellent platforms. Forex.com is a good choice for professional traders searching for premium forex services. 


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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