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 Darwinex 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. Both Darwinex and Interactive Brokers hold a 4 star rating.
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. Darwinex alongside Interactive Brokers are regulated in a major hub. Interactive Brokers is a publicly traded company, while Darwinex is not. How many currency pairs are available to trade? Darwinex trails Interactive Brokers by 76 total currency pairs (for example, EUR/USD), with Interactive Brokers offering 115 and Darwinex offering 39.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Darwinex 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. Interactive Brokers trails Darwinex by 22 total charting tools, with Darwinex offering 31 and Interactive Brokers offering 9. Darwinex trails Interactive Brokers by 70 total different indicators (for example, moving averages), with Interactive Brokers offering 121 and Darwinex offering 51.
Overall, Interactive Brokers takes the upper hand with 4 stars over Darwinex's 3.5 stars. And, when it comes to individual category awards, neither Darwinex 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.