image Interactive Brokers VISIT INTERACTIVE BROKERS image Traders Trust VISIT TRADERS TRUST image City Index VISIT CITY INDEX
About

Interactive Brokers is regulated by NFA 0258600. Interactive Brokers have provided Forex, CFD trading services since 1977.

Traders Trust is regulated by Financial Conduct Authority, CySEC, BAFIN, CNMV, CONSOB, FI, AFM, FSA. Traders Trust have provided Forex, CFD trading services since 1998.

City Index is regulated by the Financial Conduct Authority. City Index have provided Forex trading services since 1983.

Why choose them?
  • Yes Over 41 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 20 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, CySEC, BAFIN, CNMV, CONSOB, FI, AFM, FSA
  • Yes Over 35 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, ASIC and MAS
Headquarters CT, USA 56 Theodorou Potamianou Aphrodite Court, 4th Floor, Limassol, 4155 Cyprus, P.O.Box 70721 Limassol CY 3802 Cyprus London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) No No Yes
CFD No No Yes
Spread Betting No No Yes
Social Trading No No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 84
Commodities Offered 26
Stocks Offered 4500
Bitcoin No No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes No Yes
Penny stocks No No Yes
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes No Yes
FTSE Yes No Yes
Dow Jones Yes Yes Yes
Dax Yes Yes Yes
Nikkei Yes No Yes
ETFs Yes No Yes
IPO No No No
See all instruments

Losses can exceed deposits

See all instruments

83% of retail investor accounts lose money when trading CFDs.

See all instruments

72% of retail investor accounts lose money when trading CFDs with this provider

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 No Yes Yes
MT5 No No No
MT4 Mac No No No
WebTrader Yes Yes Yes
Mirror Trader No No No
ZuluTrade No No No
Sirix No No No
cTrader No No No
L2 Dealer No No No
PAMM Yes No Yes
Custom Platforms IB Trader Workstation No AT Pro, Advantage Web

APPS

iOS image Yes Yes Yes
Android image No Yes Yes
Windows image No Yes Yes
Available Languages

English, French, German, Spanish, Italian, Russian, Mandarin, Cantonese, and Japanese

English, Dutch, Hungarian, French, Polish, Greek, Italian, Russian, Mandarin,Japanese, and Indonesian

English, Spanish, German, Arabic, Polish, and Chinese

See platform & features

Losses can exceed deposits

See platform & features

83% of retail investor accounts lose money when trading CFDs.

See platform & features

72% of retail investor accounts lose money when trading CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by Interactive Brokers and Traders Trust

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account No No Yes
Standard account Yes Yes Yes
ECN Account Yes No No
Islamic account No Yes No
Zero spread account No No No
VIP account No No No
Fixed spreads No No Yes
Variable spreads Yes Yes Yes
See account options

Losses can exceed deposits

See account options

83% of retail investor accounts lose money when trading CFDs.

See account options

72% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes No
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server No No No
Direct market access No Yes No
STP broker Yes Yes Yes
Market maker Yes Yes Yes
Min trade None 0.01 Lot 1 Lot
Max trade None 50 lot Varies
Min deposit 10,000 $100 $25

RISK MANAGEMENT

Stop losses Yes No Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes No Yes
Price alerts Yes Yes Yes
Signal trading Yes Yes Yes

FUNDING METHODS

Credit card No Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No No
Neteller No Yes No
Skrill No No No
Payment processing time 1 business day 1-5 business days 2-3 business days
Withdrawal processing time 1-3 business days 1-5 business days 2-3 business days
See all funding options

Losses can exceed deposits

See all funding options

83% of retail investor accounts lose money when trading CFDs.

See all funding options

72% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries US US US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW
Contact email Send Email Send Email Send Email
phone number (1) (877) 4422757 +357 25 20 7000 0845 355 0801
Live Chat Yes Yes Yes
Website https://www.interactivebrokers.com/ http://traders-trust.com/ www.cityindex.co.uk
Forex Spreads
EUR/USD 1.50 0.50
GBP/USD 1.70 0.80
USD/JPY 1.80 0.50
AUD/USD N/A N/A 0.5
Cryptocurrency Spreads N/A 70
View all FX spreads

Losses can exceed deposits

View all FX spreads

83% of retail investor accounts lose money when trading CFDs.

View all FX spreads

72% of retail investor accounts lose money when trading CFDs with this provider

INDICE SPREADS
Dax 30 1.5 1.0
Nasdaq 100 1 1.0
Euro Stoxx 50 2 2.0
ASX 200 1.0
S&P 500 0.9 0.4
FTSE 100 1 1.0
Google 0.0015
Facebook 0.0015
View all spreads

Losses can exceed deposits

View all spreads

83% of retail investor accounts lose money when trading CFDs.

View all spreads

72% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee Yes YEs Yes
Commission Yes $50/ lot 0.0015
Deposit Fee No Varies Varies
Withdrawal Fee 10 USD 0.5%- 2.5% Varies
View All Fees

Losses can exceed deposits

View All Fees

83% of retail investor accounts lose money when trading CFDs.

View All Fees

72% of retail investor accounts lose money when trading CFDs with this provider

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Last update

All information collected from https://www.interactivebrokers.com/. Last updated on 01/05/2019.

All information collected from http://traders-trust.com/. Last updated on 01/05/2019.

All information collected from www.cityindex.co.uk. Last updated on 01/05/2019.

Company

Interactive Brokers is an online forex trading sevice provider who are regulated by the Financial Conduct Authority. To open an account with Interactive Brokers, minimum deposits start from $10,000.

With Interactive Brokers you can trade Stocks, options, futures, forex, foreign equities, and bonds. If you like to trade on the go, Interactive Brokers have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

Interactive Brokers offer IB TWS for mobile, IB Trader Workstation, IB WebTrader platforms to make your trades and support 9 different languages.

They also offer traders free educational material to better understand the markets and trading strategies.

The spreads offered by Interactive Brokers for the most popular instruments are:
0.61 EUR/USD, variable FTSE 100, variable GOLD,
4.56 GBP/USD, 164.17 DOW/JONES, 0 Crude Oil,
see all the spreads here.

Traders Trust is an online forex trading service provider who are regulated by CySEC. To open an account with Traders Trust, minimum deposits start from $100.

With Traders Trust you can trade Forex, CFDs, oil, metals, indices, and commodities. If you like to trade on the go, Traders Trust have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

Traders Trust offer MT4 Platform, iPhone MT4 Platform, iPad MT4 Platform, Android MT4 Platform platforms to make your trades and support 15 different languages.

They also offer traders free educational material to better understand the markets and trading strategies.

The spreads offered by Traders Trust for the most popular instruments are:
1.2 EUR/USD, 2.2 FTSE 100, 45 GOLD,
1.6 GBP/USD, 4.8 DOW/JONES, 3 Crude Oil,
see all the spreads here.

Since establishing themselves as one of the first spread betting providers in the UK. , City Index have grown to a global company in over 50 countries completing over two million trades every month. City Index provide some of the most competitive spreads across thousands of markets including incidices, shares, currencies, commodities and many more.

City Index have continued to innovate and were the first to provide a downloadable Android and iPhone app for spread betting and CFD trading and with over 30 years experience in the industry, you know you can trust Cityindex to handle your trades.

For more information about trading with City Index, we have put together an indepth City Index review with the pros and cons about this broker.

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Interactive Brokers or Traders Trust?

ECN execution or access to MT4?

If you’re a trader looking for a broker that offers ECN execution (as opposed to a market maker), Interactive Brokers is likely the better choice. However, if you want a broker that offers MetaTrader4 as a trading platform, Traders Trust may be more suitable.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider Traders Trust to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

Interactive Brokers is regulated by Financial Conduct Authority, while Traders Trust is regulated by Financial Conduct Authority, CySEC, BAFIN, CNMV, CONSOB, FI, AFM, FSA.

As the Financial Conduct Authority are one of the most stringent regulators in the world, both Interactive Brokers and Traders Trust will have very strict guidelines to follow to ensure they protect their retail trader clients.

City Index are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

Interactive Brokers has been around for 42 years, while Traders Trust have been around for 21 years. Our third alternative broker, City Index, have been around for 36 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both Interactive Brokers and Traders Trust use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on Interactive Brokers or Traders Trust in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Interactive Brokers is a publicly listed company, while on the other hand Traders Trust is still a privately owned company.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

Interactive Brokers are based in CT, USA, while Traders Trust are based in 56 Theodorou Potamianou Aphrodite Court, 4th Floor, Limassol, 4155 Cyprus, P.O.Box 70721 Limassol CY 3802 Cyprus.

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both Interactive Brokers and Traders Trust offer forex trading. Also, if you’re looking to trade cryptocurrencies,

neither Interactive Brokers nor Interactive Brokers offer commodity trading.

Platforms & Account Types

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. Interactive Brokers, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

Interactive Brokers does allow scalping and hedging. While Traders Trust also allows scalping and hedging. You can trade with EAs (expert advisors) on both Interactive Brokers and Traders Trust.

In terms of risk management tools, neither Interactive Brokers or Traders Trust offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

Interactive Brokers also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

Traders Trust accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, Interactive Brokers charges points, while Traders Trust charges 1.50 points. Therefore, Interactive Brokers is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: Interactive Brokers or Traders Trust?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, Traders Trust is more reliable based on our criteria above. Traders Trust has a wider range of instruments to trade. Traders Trust offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.