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

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

XTB
10 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT XTB
Interactive Brokers
8.3 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT INTERACTIVE BROKERS
AvaTrade
9.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT AVATRADE
About

XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002.

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

AvaTrade is regulated by the Central Bank of Ireland, ASIC (Australia), FSA (Japan), FSB (South Africa) and BVI. AvaTrade have provided Forex trading services since 2006.

Why choose them?
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, KNF, and CMB.
  • Yes Over 41 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Central Bank of Ireland, ASIC, FSA, FSB and BVI
Headquarters Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK Level 20 Heron Tower, 110 Bishopsgate, London EC2N 4AY Dublin, Ireland

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting No No Yes
Social Trading No No Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 48 22 59
Commodities Offered 21 16
Stocks Offered 1606 99
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks Yes No No
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes Yes Yes
FTSE Yes Yes Yes
Dow Jones Yes Yes Yes
Dax Yes Yes Yes
Nikkei Yes Yes Yes
ETFs Yes Yes Yes
IPO Yes No Yes
See all instruments

75% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

Losses can exceed deposits

See all instruments

71% 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 Yes No Yes
MT5 No No Yes
MT4 Mac Yes Yes Yes
WebTrader Yes Yes Yes
Mirror Trader Yes Yes Yes
ZuluTrade No Yes Yes
Sirix No No No
cTrader No No No
PAMM No Yes No
Custom Platforms Xstation5 IB Trader Workstation AvaTradeAct, AVAOptions

APPS

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

English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

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

English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch

See platform & features

75% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

Losses can exceed deposits

See platform & features

71% 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 XTB and Interactive Brokers

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

75% of retail investor accounts lose money when trading CFDs with this provider.

See account options

Losses can exceed deposits

See account options

71% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

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

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading Yes Yes Yes

FUNDING METHODS

Credit card Yes No Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal Yes No Yes
Neteller Yes No Yes
Skrill Yes No Yes
Payment processing time Same day if requested before 1PM 1 business day Varies
Withdrawal processing time Same day if requested before 1PM 1-3 business days Varies
See all funding options

75% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

Losses can exceed deposits

See all funding options

71% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US US BE,BR,NZ,US,KE,IN,GH
Contact email Send Email Send Email Send Email
Phone number 44 2036953085 +44 207-710-5695 (44) (0) 8005200423
Live Chat Yes Yes Yes
Website www.xtb.com https://www.interactivebrokers.com/ http://www.avatrade.com/
Spreads:
EUR/USD (Average: 0.7 pips) 0.1 pips 0.1 pips + $2/lot 0.9 pips
GBP/USD (Average: 1.1 pips) 0.1 pips 0.1 pips + $2/lot 1.6 pips
USD/JPY (Average: 1.1 pips) 0.1 pips 0.1 pips + $2/lot 1.1 pips
AUD/USD (Average: 0.8 pips) 0.2 pips 0.1 pips + $2/lot 1.1 pips
USD/CHF (Average: 2.3 pips) 0.2 pips 0.1 pips + $2/lot 1.6 pips
USD/CAD (Average: 2.9 pips) 0.3 pips 0.1 pips + $2/lot 2.0 pips
NZD/USD (Average: 3.6 pips) 0.3 pips 0.1 pips + $2/lot 1.8 pips
EUR/GBP (Average: 2.4 pips) 0.1 pips 0.1 pips + $2/lot 1.5 pips
View all spreads

75% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

Losses can exceed deposits

View all spreads

71% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee No Yes No
Commission Yes Yes No
Deposit Fee No No No
Withdrawal Fee No No No
View All Fees

75% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

Losses can exceed deposits

View All Fees

71% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from www.xtb.com. Last updated on 01/12/2019.

All information collected from https://www.interactivebrokers.com/. Last updated on 01/12/2019.

All information collected from http://www.avatrade.com/. Last updated on 01/12/2019.

Company

XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances.

XTB operates with two factors in mind; to provide traders with the fastest execution speeds and to be the most transparent broker on the market, which is reflected by the services and products they provide.

XTB also have a dedicated education area - the Trading Academy - which contains material to help you become a better trader, including video tutorials, trading courses, articles and much more to improve your skills at every step of your trading journey.

If you are looking for a broker that is regulated by the Financial Conduct Authority and focuses on transparency, fast execution speeds and customer service, XTB is a great option.

For more information about trading with XTB, we have put together an in-depth XTB review covering the pros and cons of this broker.

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.

Since 2006, Avatrade have attracted over 20,000 traders to their platform. While their spreads are not the most competitive, they do offer traders a range of great features, such as guaranteed stop losses, the ability to hedge / scalp, and low margins.

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

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XTB or Interactive Brokers?

Access to MT4 or ECN execution?

If you’re a trader looking for a broker that offers the popular MT4 trading platform, XTB is likely a better fit. However, if you want a broker with ECN execution, Interactive Brokers may be more appropriate.

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 XTB to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

XTB and Interactive Brokers are both regulated by Financial Conduct Authority

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

AvaTrade are regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI

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.

XTB has been around for 17 years, while Interactive Brokers have been around for 42 years. Our third alternative broker, AvaTrade, have been around for 13 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 XTB and Interactive Brokers 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 XTB or Interactive Brokers 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.

XTB is more popular with over 230,000 traders.

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.

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

Where are they located?

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

XTB are based in Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK, while Interactive Brokers are based in Level 20 Heron Tower, 110 Bishopsgate, London EC2N 4AY .

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 XTB and Interactive Brokers offer forex trading. XTB have a slightly larger variety of currency pairs with 48 pairs, compared to 22 offered by Interactive Brokers. Also, if you’re looking to trade cryptocurrencies, XTB offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

If you’re looking to trade commodities like gold, silver or oil, XTB may be a better fit as Interactive Brokers does not 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. XTB, 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.

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

In terms of risk management tools, XTB does offer negative balance protection to prevent you owing your broker more than you’ve deposited, but Interactive Brokers doesn't offer this.

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

XTB accept Paypal while

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, XTB charges 0.20 points, while Interactive Brokers charges 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: XTB or Interactive Brokers?

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

Objectively, XTB is more reliable based on our criteria above. XTB has a wider range of instruments to trade. XTB 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.