Interactive Brokers vs FOREX.com Comparison
Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Interactive Brokers vs FOREX.com.
Can I trust Interactive Brokers?
Interactive Brokers has a trust score of 99, giving it a "Highly Trusted" trust label. Here's what each trust score label means:
- "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
- "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
- "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
- "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
- "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.
Can I trust FOREX.com?
FOREX.com has a trust score of 99, giving it a "Highly Trusted" trust label.
Is Interactive Brokers a good broker?
Interactive Brokers is a long-standing and highly-trusted broker that holds numerous regulatory licenses across the globe. We've rated IBKR as the best broker for professional traders, and it provides traders with access to over 100 markets, including forex and CFDs. IBKR's recently introduced web-based platform caters well to beginners, and its powerful research and extensive educational content makes for a balanced experience for newcomers and professionals alike.
Is FOREX.com a good broker?
What tier-1 jurisdictions is each broker regulated in?
Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. Interactive Brokers is ASIC Authorised (Australia), IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FINMA Authorised (Switzerland), FCA Authorised (U.K.) and CFTC Registered (USA), while FOREX.com is IIROC Authorised (Canada), FSA Authorised (Japan), FCA Authorised (U.K.) and CFTC Registered (USA)., neither have FMA Authorised (New Zealand)
What tier-2 jurisdictions is each broker regulated in? What about tier-3?
Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, Interactive Brokers is NSE Authorised (India), while FOREX.com is CySEC Authorised (Cyprus) and DFSA / Central Bank Authorised (UAE)., neither have CBRC Authorised (China), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa) and SEC Authorised (Thailand). When comparing tier-3 licenses Interactive Brokers is none, while FOREX.com is CIMA Authorised (Cayman Islands)., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).
Which broker offers more trading platforms?
Both Interactive Brokers and FOREX.com offer a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade
Does Interactive Brokers offer MetaTrader? Does FOREX.com offer MetaTrader?
For MetaTrader Interactive Brokers provides neither of these, while FOREX.com provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.
How do Interactive Brokers and FOREX.com differ in terms of minimum deposit? What about average spreads and funding options?
Interactive Brokers requires a minimum deposit of $0, while FOREX.com requires a minimum deposit of $100. From our testing we found Interactive Brokers offers spreads of 0.6 (August 2022), while FOREX.com offers spreads of 1.1 (US August 2021). Interactive Brokers supports Bank Wire (Deposit/Withdraw) for popular funding options, where FOREX.com supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw)., neither have Skrill (Deposit/Withdraw)
Which brokers offers more tradeable asset classes, Interactive Brokers or FOREX.com?
Both Interactive Brokers and FOREX.com allow you to trade Forex Trading, Trading - Forex or CFDs, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD)., neither have Spread Betting and Social Trading / Copy Trading Looking at total tradeable symbols, Interactive Brokers has 8300, compared to 5500 from FOREX.com.
Can I trade cryptocurrency with Interactive Brokers or FOREX.com?
Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither Interactive Brokers nor FOREX.com allow you to trade physical cryptocurrencies.
Who offers more research tools, Interactive Brokers or FOREX.com?
Both Interactive Brokers and FOREX.com offer a complete suite of research, providing traders with these tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Trading Central (Recognia)., neither have Autochartist and Social Trading / Copy Trading