Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs FOREX.com, 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.
Interactive Brokers and FOREX.com are two well-established online brokers, both publicly traded and founded in 1977 and 1999, respectively. Neither company operates as a bank, which makes understanding their regulatory standings essential for potential investors. Interactive Brokers and FOREX.com each boast a stellar Trust Score of 99 out of 99 according to ForexBrokers.com, cementing their status as highly trusted brokers.
Both companies hold significant regulatory credentials, with Interactive Brokers possessing 9 Tier-1 licenses, recognized as highly trustworthy, alongside 2 Tier-2 licenses. FOREX.com holds 7 Tier-1 licenses and 1 Tier-2 license. These licenses underscore their commitment to maintaining high regulatory standards, providing users with peace of mind when choosing either for their trading needs.
| Feature |
Interactive Brokers
|
FOREX.com
|
|---|---|---|
| Year Founded | 1977 | 1999 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | No |
| Tier-1 Licenses | 9 | 7 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing Interactive Brokers and FOREX.com, both brokers offer competitive commission and fee structures for forex trading, but they cater to slightly different preferences and trading volumes. Interactive Brokers is known for its highly competitive pricing, offering a low average spread of 0.59 pips on the EUR/USD after commission. Their commission rates start as low as 0.2 basis points of the USD trade value, with a minimum of $2 per order, making it particularly attractive for large-volume traders. Furthermore, Interactive Brokers provide potential discounts for active traders, with commissions dropping as low as $1 per order when trading volumes exceed $5 billion monthly. Due to its competitive fee structure, Interactive Brokers receives a stellar rating of 5 stars and ranks #2 out of 63 brokers for commissions and fees.
FOREX.com, in contrast, provides more transparency in pricing but tends to be slightly more expensive unless trading from outside the U.S. Their Standard account features an average spread of 1.4 pips for the EUR/USD, but their RAW account offers a typical spread of 0.13 pips paired with a $7 commission per Standard lot. This makes it comparable in cost to the Standard account unless trading exceeds $50 million monthly. Notably, the RAW Spread account introduces volume-based rebates, enhancing its appeal for very high volume traders. FOREX.com is rated 4.5 stars and is ranked #13 out of 63 brokers in the commissions and fees category.
Ultimately, Interactive Brokers stands out for its lower commissions, especially for high-volume traders, while FOREX.com provides more transparent fees but might entail higher costs in some scenarios. Both brokers offer unique advantages, with Interactive Brokers excelling in commission rates for active traders and FOREX.com providing versatile account options that may benefit a broader range of trading styles.
| Feature |
Interactive Brokers
|
FOREX.com
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 0.59 | 1.4 |
| All-in Cost EUR/USD - Active | 0.59 | 0.9 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Interactive Brokers and FOREX.com both offer forex trading as either a CFD or spot contract, catering to traders interested in the foreign exchange market. Interactive Brokers takes the edge with a significantly larger array of options, boasting 8,500 tradeable symbols and 90 forex pairs compared to FOREX.com's 5,500 symbols and 80 forex pairs. For those interested in venturing beyond forex, Interactive Brokers provides access to exchange-traded securities on both U.S. and international exchanges. This means clients can acquire shares of companies like Apple and Vodafone directly—a feature not available on FOREX.com.
When it comes to cryptocurrency offerings, Interactive Brokers again presents a broader range by allowing clients to purchase actual cryptocurrencies, in addition to cryptocurrency derivatives. FOREX.com, in contrast, only offers derivatives of cryptocurrencies. Although copy trading is absent on both platforms, Interactive Brokers' extensive offerings in other areas have earned it the top spot for Range of Investments as per ForexBrokers.com out of 63 brokers. Meanwhile, FOREX.com ranks seventh in the same category. Despite the differences, both brokers impressively hold a 5-star rating for their Range of Investments, making them strong contenders for traders seeking diverse portfolios.
| Feature |
Interactive Brokers
|
FOREX.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 5500 |
| Forex Pairs (Total) | 90 | 80 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | No |
| 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 the trading platforms and tools offered by Interactive Brokers and FOREX.com, both brokers provide a comprehensive suite of solutions that cater to traders at all levels. Both platforms offer simulated or paper trading with complimentary virtual demo accounts, enabling users to practice their strategies without financial risk. Interactive Brokers and FOREX.com each have their own proprietary platforms, designed in-house to offer unique trading experiences, and both provide robust Windows-based desktop and web-based trading platforms. However, while FOREX.com supports popular trading tools like MetaTrader 4 and MetaTrader 5, Interactive Brokers does not. Neither broker currently supports copy trading or services like DupliTrade and ZuluTrade.
In terms of platform features, both brokers enable trading directly from stock charts, although the specifics of their charting tools differ. FOREX.com stands out with 239 drawing tools, significantly more than the 85 offered by Interactive Brokers. On the other hand, Interactive Brokers presents an extensive array of options for watch lists, with 659 columns compared to FOREX.com's 20. Both brokers earn top ratings with 5 stars in trading platforms and tools, though Interactive Brokers edges ahead in industry rankings, holding a #3 spot out of 63 brokers as per ForexBrokers.com, while FOREX.com ranks #7. This suggests that while both platforms are highly regarded, Interactive Brokers may offer a slightly more comprehensive toolset for professional traders.
| Feature |
Interactive Brokers
|
FOREX.com
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 88 |
| Charting - Drawing Tools (Total) | 85 | 239 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 20 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Interactive Brokers and FOREX.com both provide mobile apps for iPhone and Android, catering to traders on the go. Each app includes crucial features such as stock or forex price alerts and watchlist symbol syncing, allowing seamless integration with online accounts. For those who rely heavily on technical analysis, Interactive Brokers might have a slight edge with its offering of 97 technical studies compared to FOREX.com's 88. However, FOREX.com compensates by automatically saving chart drawings, which is a feature lacking in Interactive Brokers' mobile app. Additionally, both apps support drawing trendlines and viewing different time frames, ensuring versatility for chart analysis.
When it comes to creating watchlists with real-time quotes, both Interactive Brokers and FOREX.com are on par, fulfilling the needs of actively engaged traders. Both have earned a perfect 5-star rating for their mobile trading apps, reflecting their efficiency and user satisfaction. According to ForexBrokers.com, FOREX.com ranks slightly higher at #3 while Interactive Brokers is closely behind at #4 out of 63 brokers, making both platforms formidable options for mobile traders seeking efficient and feature-rich apps.
| Feature |
Interactive Brokers
|
FOREX.com
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 97 | 88 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of Interactive Brokers and FOREX.com, both platforms provide daily market commentary and access to forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones. Additionally, both brokers utilize Trading Central tools like Technical Analytics and offer sentiment-based trading tools, allowing traders to see the ratio of long or short positions across currency pairs. They each provide an economic calendar that displays current and upcoming global news events, which helps traders stay informed about various economies around the world.
However, Interactive Brokers stands out for its exclusive partnerships and higher ratings. It offers market research from TipRanks and tools from Acuity Trading, like the Signal Centre, which FOREX.com does not. This distinction likely contributes to Interactive Brokers receiving a five-star research rating, compared to FOREX.com's 4.5 stars. As a result, Interactive Brokers is ranked third out of 63 brokers by ForexBrokers.com for research, while FOREX.com is ranked ninth. These differences highlight Interactive Brokers’ edge in providing comprehensive research options and tools for traders.
| Feature |
Interactive Brokers
|
FOREX.com
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Interactive Brokers and FOREX.com both offer a wealth of educational resources for beginners interested in forex and CFDs. Both platforms provide over 10 educational materials, like articles and videos, focusing on forex and CFDs. Additionally, they host monthly online webinars and maintain an archive of recorded sessions for clients to revisit. Whether you are new to trading or looking to enhance your skills, both brokers present a comprehensive selection of beginner educational videos. These cover essential trading topics to help you build a solid foundation, while also offering advanced videos for more seasoned traders.
Beyond video content, both Interactive Brokers and FOREX.com complement their educational offerings with an investor dictionary featuring over 50 investing terms. This feature is particularly beneficial for beginners looking to familiarize themselves with trading terminology. When it comes to ratings, Interactive Brokers shines a bit brighter with a 5-star education rating, compared to FOREX.com's 4.5 stars. In the wider landscape of 63 brokers, Interactive Brokers takes the third spot for education according to ForexBrokers.com, with FOREX.com closely following in fourth place.
| Feature |
Interactive Brokers
|
FOREX.com
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 FOREX.com. Interactive Brokers finished with an overall rank of #2, while FOREX.com finished with an overall rank of #5.
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
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FOREX.com
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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While both Interactive Brokers and FOREX.com allow trading of cryptocurrency derivatives, only Interactive Brokers provides the option to purchase actual delivered cryptocurrency, giving it a significant advantage for investors looking to own the physical asset.
Interactive Brokers and FOREX.com both support ACH and SEPA transfers plus bank wires for fund deposits and withdrawals, but while FOREX.com also offers additional options such as PayPal and Visa or Mastercard, Interactive Brokers does not provide these services.
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 | FOREX.com | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | FOREX.com Review |
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| Regulation | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1977 | 1999 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 7 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | Yes | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 5500 | |
| Forex Pairs (Total) | 90 | 80 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | No | |
| 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 | FOREX.com | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 1.4 | |
| All-in Cost EUR/USD - Active | 0.59 | 0.9 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 20 | |
| Charting - Indicators / Studies (Total) | 155 | 88 | |
| Charting - Drawing Tools (Total) | 85 | 239 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 97 | 88 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| 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 | FOREX.com Review |
| Overall | Interactive Brokers | FOREX.com | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | FOREX.com Review |
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