Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs Alpari, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% 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.
When it comes to choosing an online broker, understanding their trust levels can be crucial. Interactive Brokers, established in 1977, stands out as a highly trusted platform with a ForexBrokers.com Trust Score of 99. It holds an impressive nine Tier-1 licenses, the highest level of trust. The company is also publicly traded, which adds another layer of transparency for its users. Although not a bank itself, Interactive Brokers still provides a secure environment for online trading.
In contrast, Alpari, founded in 1998, holds a more modest position on the trust scale with a ForexBrokers.com Trust Score of 68, categorizing it as high risk. Unlike Interactive Brokers, Alpari does not hold any Tier-1 or Tier-2 licenses, and is not publicly traded, aspects that may impact its transparency and perceived reliability. Both Interactive Brokers and Alpari operate as non-banking financial services providers, yet the difference in their creditability speaks volumes when evaluating which broker to trust with your investments.
| Feature |
Interactive Brokers
|
Alpari
|
|---|---|---|
| Year Founded | 1977 | 1998 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 0 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Interactive Brokers offers a competitive fee structure, especially for those involved in forex trading. While the platform doesn't publish exact average spreads for forex, during Q3 2024, the EUR/USD spreads were noted to average 0.19 pips, with an all-in spread of 0.59 pips when factoring in commissions. Forex trading commissions at Interactive Brokers start at 0.2 basis points of the USD trade value with a minimum of $2 per order, reducing further for more active traders. Notably, this setup translates to low effective commission rates, providing value for traders handling large volumes. With a unique pricing approach that aggregates prices from major interbank forex dealers and employs commission-based forex trading, Interactive Brokers ensures cost-efficient trading for its users. Overall, the broker receives a stellar 5-star rating and ranks impressively at #2 among 63 brokers in the Commissions and Fees category.
On the other hand, Alpari does not provide average spread data, which makes direct fee comparisons challenging. Nonetheless, the platform has earned a respectable 4-star rating for its commissions and fees, indicating a satisfactory user experience in this domain. Alpari stands at #41 in the Commissions and Fees category according to ForexBrokers.com, highlighting a notable difference between the two brokers in terms of pricing efficiency and overall ranking.
In conclusion, while both brokers serve their clients with various trading options, Interactive Brokers appears to offer a more favorably rated and competitively ranked fee structure. Active traders might find Interactive Brokers especially appealing due to volume-based discounts and the ability to handle large orders seamlessly. Meanwhile, Alpari remains an option for traders who might prioritize different platform features over cost, though they may wish to explore specific fee structures further to ensure optimal trading conditions.
| Feature |
Interactive Brokers
|
Alpari
|
|---|---|---|
| Minimum Deposit | $0 | $20 |
| Average Spread EUR/USD - Standard | 0.59 | N/A |
| All-in Cost EUR/USD - Active | 0.59 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Interactive Brokers and Alpari both offer forex trading options as CFDs or spot contracts, but the breadth of investment opportunities available at each platform greatly differs. Interactive Brokers provides access to an impressive 8,500 tradeable symbols compared to Alpari’s more limited selection of 105. When it comes to forex pairs, Interactive Brokers offers 90, nearly doubling Alpari’s 46. Furthermore, Interactive Brokers allows clients to invest in U.S. exchange-traded securities, such as Apple shares, a feature not available through Alpari. Both brokers offer access to international exchange-traded securities, but only Interactive Brokers provides the service of buying actual cryptocurrency, while both platforms offer cryptocurrency derivatives. Alpari, however, includes copy trading in its offerings, which Interactive Brokers does not.
For those seeking a broader array of investments, Interactive Brokers leads the way with a five-star rating and is ranked number one by ForexBrokers.com for its range of investments. Conversely, Alpari provides a narrower range of investment options, reflected in its three-star rating and last-place position in the same ranking. Whether you are interested in a wide selection of securities, including the ability to hold physical cryptocurrencies, or prefer the added feature of copy trading with Alpari, both brokers cater to different investment preferences.
| Feature |
Interactive Brokers
|
Alpari
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 105 |
| Forex Pairs (Total) | 90 | 46 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing Interactive Brokers and Alpari, both platforms offer traders the opportunity to engage in simulated trading with free virtual demo accounts, allowing new users to learn without financial risk. They each have developed their own proprietary trading platforms and provide a Windows-based desktop download along with a web-based trading option. However, Interactive Brokers stands out with a vast offering of up to 659 columns for watch lists, significantly more than Alpari's 7. Alpari, on the other hand, caters to those interested in copy trading and offers support for popular platforms like MetaTrader 4 and 5, which Interactive Brokers does not. Neither broker supports DupliTrade nor ZuluTrade, keeping their focus on other tools.
In terms of user-friendly tools, Interactive Brokers excels with 85 drawing tools available for charting, enhancing analysis capabilities over Alpari, which provides 15. Both brokers allow trading directly from stock charts, offering convenience and efficiency for active traders. These differences contribute to Interactive Brokers receiving a rating of 5 stars for its trading platforms and tools, placing it at rank #3 out of 63 brokers according to ForexBrokers.com. Alpari, with a 4-star rating, holds the #55 spot, highlighting Interactive Brokers' superior offering in terms of trading features and tool variety for both novice and experienced traders.
| Feature |
Interactive Brokers
|
Alpari
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 30 |
| Charting - Drawing Tools (Total) | 85 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Interactive Brokers and Alpari both offer mobile trading apps compatible with iPhone and Android, catering effectively to traders on the go. Both apps provide essential features such as stock and forex price alerts, the ability to draw trendlines, and view multiple time frames on charts. Traders can also create watchlists with real-time quotes, although only Interactive Brokers' app offers syncing of watchlist symbols across devices, ensuring that any changes made on the mobile app reflect on their online account too.
For those who rely heavily on technical analysis, Interactive Brokers stands out with 97 technical studies available in its app, significantly more than Alpari's 30 studies. However, neither app currently auto-saves chart drawings. Reflecting user satisfaction, Interactive Brokers' mobile app boasts a 5-star rating, outperforming Alpari's 4 stars. This distinction is further reinforced by its higher ranking of 4th place among 63 brokers on ForexBrokers.com for mobile trading apps, compared to Alpari's 56th position. Such features and rankings might influence traders who value a seamless and comprehensive mobile trading experience.
| Feature |
Interactive Brokers
|
Alpari
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 97 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Interactive Brokers and Alpari both provide resources for market research, but their offerings differ significantly. Interactive Brokers stands out by providing daily market commentary, unlike Alpari. Both brokers deliver forex news from top-tier sources such as Bloomberg and Reuters. While Alpari integrates Autochartist tools for technical analysis, Interactive Brokers secures an edge with Trading Central’s research tools and sentiment-based trading indicators. Furthermore, Interactive Brokers supplies market insights from TipRanks and Acuity Trading, which Alpari does not. An economic calendar is available from both brokers, helping traders stay updated on global events.
When evaluating their research capabilities, Interactive Brokers is rated highly, earning 5 out of 5 stars. It holds an impressive #3 ranking out of 63 brokers as per ForexBrokers.com. Meanwhile, Alpari scores 3 stars and is positioned at #57 in the same category. Interactive Brokers offers a more comprehensive suite of research resources, making it more appealing for traders who prioritize in-depth market analysis and tools.
| Feature |
Interactive Brokers
|
Alpari
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners eager to dive into the world of forex and CFDs trading, both Interactive Brokers and Alpari offer fundamental educational resources. Interactive Brokers provides a comprehensive array of at least ten diverse educational materials, which include articles, videos, and webinar archives focused on forex and CFDs. Alpari matches this offering, ensuring that novices have access to ten similar educational pieces. However, when it comes to ongoing learning opportunities such as monthly client webinars, Interactive Brokers maintains an edge by hosting regular sessions and provides users with a searchable archive of past webinars. Unfortunately, Alpari lags in this respect, offering neither monthly webinars nor an archive of recorded sessions.
When comparing specific resources for beginners, both brokers provide an ample selection of at least ten beginner-focused videos covering essential trading concepts. Interactive Brokers further extends its educational offering with more advanced video content, which Alpari does not provide to the same extent. Additionally, both brokers feature investor dictionaries, each covering at least 50 key investing terms, allowing traders to better understand the market jargon. Thanks to these extensive educational services, Interactive Brokers earns a stellar five-star rating and ranks third among 63 brokers in the education category, leaving Alpari with a moderate three-star rating and a rank of 48th, highlighting the gap in their education offering for traders.
| Feature |
Interactive Brokers
|
Alpari
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Interactive Brokers is better than Alpari. Interactive Brokers finished with an overall rank of #2, while Alpari finished with an overall rank of #58.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
|
Alpari
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 68 |
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Interactive Brokers allows users to buy both actual delivered cryptocurrency and cryptocurrency derivatives, while Alpari only offers the option to trade cryptocurrency derivatives and does not provide access to actual delivered cryptocurrency.
Interactive Brokers stands out by supporting ACH and SEPA transfers alongside bank wires for depositing and withdrawing funds, unlike Alpari, which does not offer these transfer options but instead provides Skrill and Visa/Mastercard services, both brokers do not support PayPal transactions.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | Interactive Brokers | Alpari | |
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| Trust Score | 99 | 68 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review |
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| Regulation | Interactive Brokers | Alpari | |
|---|---|---|---|
| Trust Score | 99 | 68 | |
| Year Founded | 1977 | 1998 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 9 | 0 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | Alpari | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | Interactive Brokers | Alpari | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | Alpari | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 105 | |
| Forex Pairs (Total) | 90 | 46 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Interactive Brokers | Alpari | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | N/A | |
| All-in Cost EUR/USD - Active | 0.59 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | Alpari | |
|---|---|---|---|
| Minimum Deposit | $0 | $20 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Interactive Brokers | Alpari | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | Alpari | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 7 | |
| Charting - Indicators / Studies (Total) | 155 | 30 | |
| Charting - Drawing Tools (Total) | 85 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | Alpari | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 97 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | Alpari | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | Alpari | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Interactive Brokers | Alpari | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Interactive Brokers Review |
| Overall | Interactive Brokers | Alpari | |
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| Trust Score | 99 | 68 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review |
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