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 easyMarkets 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 easyMarkets's 3.00 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. easyMarkets and Interactive Brokers both are regulated in a major hub. Interactive Brokers is a publicly traded company, easyMarkets isn't. How many currency pairs are available to trade? Interactive Brokers offers its clients access to 115 different currency pairs while easyMarkets has 97 available pairs, a difference of 18.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. easyMarkets makes Meta Trader available to clients, while Interactive Brokers does not. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. easyMarkets boasts an offering of 31 charting tools compared to Interactive Brokers's 9 available charting tools. easyMarkets trails Interactive Brokers by 70 total different indicators (for example, moving averages), with Interactive Brokers offering 121 and easyMarkets offering 51.
Overall, Interactive Brokers comes out on top with 4.50 stars over easyMarkets's 4.00 stars. And, when it comes to individual category awards, unfortunately, neither easyMarkets nor Interactive Brokers received awards 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.