Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare AxiTrader vs Interactive Brokers.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. Interactive Brokers received a rating of 4.00 stars over AxiTrader's 3.50 stars.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. Both AxiTrader and Interactive Brokers are regulated in a major hub. Interactive Brokers is a publicly traded company, AxiTrader isn't. How many currency pairs are available to trade? Interactive Brokers offers its clients access to 85 different currency pairs while AxiTrader has 53 available pairs, a difference of 32.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. AxiTrader has Meta Trader, Interactive Brokers doesn't. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. AxiTrader offers its clients access to 31 charting tools while Interactive Brokers has 9 charting tools, a difference of 22. AxiTrader trails Interactive Brokers by 70 total different indicators (for example, moving averages), with Interactive Brokers offering 121 and AxiTrader offering 51.
Overall, Interactive Brokers boasts 4.50 stars versus AxiTrader's 3.50 stars. And, when it comes to individual category awards, neither AxiTrader nor Interactive Brokers were rated Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education.