Interactive Brokers vs Libertex (Forex Club) 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 Libertex (Forex Club).
Can I trust Interactive Brokers?
Interactive Brokers has a trust score of 99, giving it a "Highly Trusted" trust label.
- "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 Libertex (Forex Club)?
Libertex (Forex Club) has a trust score of 67, giving it a "High Risk" trust label. Here's what each trust score label means:
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. Libertex (Forex Club) is FCA Authorised (U.K.), while 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). Both do not 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, Libertex (Forex Club) is CySEC Authorised (Cyprus), while Interactive Brokers is NSE Authorised (India). Both do not have CBRC Authorised (China), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses unfortunately, neither Interactive Brokers nor Libertex (Forex Club) are SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu). Both do not have VFSC Authorised (Vanuatu)..
Which broker offers more trading platforms?
Both Interactive Brokers and Libertex (Forex Club) offer a Proprietary Platform and Desktop Platform (Windows). Both do not have cTrader, DupliTrade and ZuluTrade
Does Interactive Brokers offer MetaTrader? Does Libertex (Forex Club) offer MetaTrader?
For MetaTrader Libertex (Forex Club) provides MetaTrader 4 (MT4), while Interactive Brokers provides neither of these. If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers. Both do not have MetaTrader 5 (MT5).
How do Interactive Brokers and Libertex (Forex Club) differ in terms of minimum deposit? What about average spreads and funding options?
Interactive Brokers requires a minimum deposit of $0, while Libertex (Forex Club) requires a minimum deposit of $10. From our testing we found Interactive Brokers offers spreads of 0.6 (From 09/25/21 - 10/02/21), while Libertex (Forex Club) offers spreads of -1. Libertex (Forex Club) supports Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where Interactive Brokers supports Bank Wire (Deposit/Withdraw). Both do not have Visa/Mastercard (Credit/Debit).
Which brokers offers more tradeable asset classes, Interactive Brokers or Libertex (Forex Club)?
Libertex (Forex Club) offers a more diverse selection of investment options than Interactive Brokers allowing you to trade Forex Trading, Trading - Forex or CFDs, Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Both do not have Spread Betting. Looking at total tradeable symbols, Interactive Brokers has 7400, compared to 300 from Libertex (Forex Club).
Can I trade cryptocurrency with Interactive Brokers or Libertex (Forex Club)?
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 Libertex (Forex Club) allow you to trade physical cryptocurrencies.
Who offers more research tools, Interactive Brokers or Libertex (Forex Club)?
In terms of research and research tools Libertex (Forex Club) gives traders the following tools: Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. In comparison Interactive Brokers has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Trading Central (Recognia). Both do not have Autochartist.