BrokerNotes.co is committed to the highest ethical standards and reviews services independently. Learn How We Make Money

Interactive Brokers vs FOREX.com 2022

BrokerNotes.co

Written by BrokerNotes.co

Last updated August 30, 2022
Published April 26, 2022

Trying to decide between Interactive Brokers and FOREX.com? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, Interactive Brokers ranks more highly than FOREX.com.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Select Brokersexpand_moreclose
Overall Rating expand_moreexpand_less Interactive Brokers FOREX.com IG
Overall Rating 9.2 / 10 8.7 / 10 9.7 / 10
Account Type expand_moreexpand_less Interactive Brokers FOREX.com IG
Standard Account Yes Yes Yes
Mini Account Yes Yes Yes
Micro Account No Yes Yes
Islamic Account No Yes No
Copy Trading expand_moreexpand_less Interactive Brokers FOREX.com IG
Social Trading / Copy Trading No No Yes
DupliTrade No No No
ZuluTrade No No No
Cryptocurrency expand_moreexpand_less Interactive Brokers FOREX.com IG
Cryptocurrency (Physical) Yes No No
Cryptocurrency (CFD) No Yes Yes
Bitcoin Yes Yes Yes
ethereum No Yes Yes
Forex Trading (Spot or CFDs) expand_moreexpand_less Interactive Brokers FOREX.com IG
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Indices (Index CFDs) expand_moreexpand_less Interactive Brokers FOREX.com IG
DAX Yes Yes Yes
Dow Jones Yes Yes Yes
FTSE Yes Yes Yes
NASDAQ 100 Yes Yes Yes
Nikkei Yes Yes Yes
SP 500 Yes Yes Yes
Investments expand_moreexpand_less Interactive Brokers FOREX.com IG
Forex Trading Yes Yes Yes
Trading - Forex or CFDs Yes Yes Yes
Spread Betting No No Yes
Social Trading / Copy Trading No No Yes
Metals Yes Yes Yes
Energies Yes Yes Yes
Agriculturals Yes Yes Yes
ETF Yes Yes Yes
U.S. Stocks (CFD) Yes Yes Yes
Trading Platforms expand_moreexpand_less Interactive Brokers FOREX.com IG
Apple iOS App Yes Yes Yes
Android App Yes Yes Yes
Proprietary Platform Yes Yes Yes
Desktop Platform (Windows) Yes Yes Yes
Web Platform Yes Yes Yes
MetaTrader 4 (MT4) No Yes Yes
MetaTrader 5 (MT5) No Yes No
Regulatory Licenses expand_moreexpand_less Interactive Brokers FOREX.com IG
Tier-1 Licenses 8 4 7
ASIC Authorised (Australia) Yes No Yes
IIROC Authorised (Canada) Yes Yes No
FCA Authorised (U.K.) Yes Yes Yes
SFC Authorised (Hong Kong) Yes No No
MAS Authorised (Singapore) Yes No Yes
FINMA Authorised (Switzerland) Yes No Yes
CFTC Registered (USA) Yes Yes Yes
Tier-2 Licenses 1 2 2
Tier-3 Licenses 0 1 1
Research, Education expand_moreexpand_less Interactive Brokers FOREX.com IG
Trading Central (Recognia) Yes Yes No
Forex News (Top-Tier Sources) Yes Yes Yes
Daily Market Commentary Yes Yes Yes
Autochartist No No Yes
Investor Dictionary (Glossary) Yes Yes Yes
Videos - Beginner Trading Videos Yes Yes Yes
Client Webinars (Archived) Yes No Yes
Trading Costs expand_moreexpand_less Interactive Brokers FOREX.com IG
Minimum Initial Deposit $0 $100 ยฃ250.00
Average Spread EUR/USD - Standard 0.6 (August 2022) 1.1 (US August 2021) 0.828 (September 2021)
All-in Cost EUR/USD - Active 0.6 (Aug 2022) 1.1 (US August 2021) 0.365 (May 2020)
Active Trader or VIP Discounts Yes Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes Yes
Visa/Mastercard (Credit/Debit) No Yes Yes
PayPal (Deposit/Withdraw) No Yes Yes
Trading Tools expand_moreexpand_less Interactive Brokers FOREX.com IG
Watchlists - Total Fields 651 18 14
Mobile Watchlist Yes Yes Yes
Charting - Indicators / Studies (Total) 127 139 32
Mobile Charting - Indicators / Studies 98 88 32
Trust Factors expand_moreexpand_less Interactive Brokers FOREX.com IG
Year Founded 1977 1999 1974
Publicly Traded (Listed) Yes Yes Yes
Bank No No Yes
Authorised in European Union Yes Yes Yes
Trust Score 99 99 99
  • check_box_outline_blankcheck_boxACY Securities
  • check_box_outline_blankcheck_boxAdmiral Markets
  • check_box_outline_blankcheck_boxAlpari
  • check_box_outline_blankcheck_boxATFX
  • check_box_outline_blankcheck_boxAvaTrade
  • check_box_outline_blankcheck_boxAxiTrader
  • check_box_outline_blankcheck_boxBDSwiss
  • check_box_outline_blankcheck_boxBlackBull Markets
  • check_box_outline_blankcheck_boxCapital.com
  • check_box_outline_blankcheck_boxCity Index
  • check_box_outline_blankcheck_boxCMC Markets
  • check_box_outline_blankcheck_boxDooPrime
  • check_box_outline_blankcheck_boxeasyMarkets
  • check_box_outline_blankcheck_boxEightcap
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxExness
  • check_box_outline_blankcheck_boxFineco Bank
  • check_box_outline_blankcheck_boxFOREX.com
  • check_box_outline_blankcheck_boxForex4you
  • check_box_outline_blankcheck_boxFP Markets
  • check_box_outline_blankcheck_boxFXCM
  • check_box_outline_blankcheck_boxFXOpen
  • check_box_outline_blankcheck_boxFXPrimus
  • check_box_outline_blankcheck_boxFxPro
  • check_box_outline_blankcheck_boxGBE brokers
  • check_box_outline_blankcheck_boxGKFX
  • check_box_outline_blankcheck_boxHFM
  • check_box_outline_blankcheck_boxHYCM (Henyep)
  • check_box_outline_blankcheck_boxIC Markets
  • check_box_outline_blankcheck_boxIG
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxIronFX
  • check_box_outline_blankcheck_boxLegacyFX
  • check_box_outline_blankcheck_boxLibertex (Forex Club)
  • check_box_outline_blankcheck_boxMarkets.com
  • check_box_outline_blankcheck_boxMoneta Markets
  • check_box_outline_blankcheck_boxOANDA
  • check_box_outline_blankcheck_boxOctaFX
  • check_box_outline_blankcheck_boxPepperstone
  • check_box_outline_blankcheck_boxPlus500
  • check_box_outline_blankcheck_boxRoboForex (RoboMarkets)
  • check_box_outline_blankcheck_boxSaxo Bank
  • check_box_outline_blankcheck_boxSpreadex
  • check_box_outline_blankcheck_boxSwissquote
  • check_box_outline_blankcheck_boxTD Ameritrade
  • check_box_outline_blankcheck_boxTeleTrade
  • check_box_outline_blankcheck_boxThinkMarkets
  • check_box_outline_blankcheck_boxTickmill
  • check_box_outline_blankcheck_boxTMGM
  • check_box_outline_blankcheck_boxTopFX
  • check_box_outline_blankcheck_boxTrade Nation
  • check_box_outline_blankcheck_boxTrade360
  • check_box_outline_blankcheck_boxTradeo
  • check_box_outline_blankcheck_boxTrading 212
  • check_box_outline_blankcheck_boxUFX
  • check_box_outline_blankcheck_boxVantage
  • check_box_outline_blankcheck_boxVestle
  • check_box_outline_blankcheck_boxVT Markets
  • check_box_outline_blankcheck_boxXM Group
  • check_box_outline_blankcheck_boxXTB
  • check_box_outline_blankcheck_boxXtrade
Compare 0 of 5
arrow_upward

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 โ€“ in most cases โ€“ 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 โ€œDo Not Trustโ€ 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 โ€” 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




close