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Interactive Brokers vs FOREX.com 2022

ForexBrokers.com

Written by ForexBrokers.com

November 08, 2022

Is Interactive Brokers better than FOREX.com? In our analysis of 23 international regulators across 39 of the best forex brokers, Interactive Brokers is considered low-risk, with an overall Trust Score of 99 out of 99. FOREX.com is considered low-risk, with an overall Trust Score of 99 out of 99. Learn more about Trust Score.

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Overall RatingInteractive BrokersFOREX.comIG
Overall Rating5 Stars5 Stars5 Stars
Commissions & Fees5 Stars4.5 Stars5 Stars
Offering of Investments5 Stars5 Stars5 Stars
Platform & Tools5 Stars5 Stars5 Stars
Mobile Trading5 Stars5 Stars5 Stars
Research5 Stars4.5 Stars5 Stars
Education4.5 Stars4.5 Stars5 Stars
Trust Score999999
Winnercheck_circle
ReviewInteractive Brokers ReviewFOREX.com ReviewIG Review
RegulationInteractive BrokersFOREX.comIG
Trust Score999999
Year Founded197719991974
Publicly Traded (Listed)YesYesYes
BankNoNoYes
Tier-1 Licenses847
Tier-2 Licenses122
Tier-3 Licenses011
Authorised in European UnionYesYesYes
About RegulationA โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.
Tier-1 Licenses (High Trust)Interactive BrokersFOREX.comIG
ASIC Authorised (Australia)YesNoYes
IIROC Authorised (Canada)YesYesNo
SFC Authorised (Hong Kong)YesNoNo
CBI Authorised (Ireland)YesNoNo
FSA Authorised (Japan)YesYesYes
MAS Authorised (Singapore)YesNoYes
FINMA Authorised (Switzerland)YesNoYes
FCA Authorised (U.K.)YesYesYes
CFTC Registered (USA)YesYesYes
FMA Authorised (New Zealand)NoNoYes
Tier-2 Licenses (Average Trust)Interactive BrokersFOREX.comIG
CBRC Authorised (China)NoNoNo
CySEC Authorised (Cyprus)NoYesNo
SEBI Authorised (India)YesNoNo
ISA Authorised (Israel)NoNoNo
CBR Authorised (Russia)NoNoNo
FSCA Authorised (South Africa)NoNoYes
SEC Authorised (Thailand)NoNoNo
DFSA / Central Bank Authorised (UAE)NoYesYes
Tier-3 Licenses (Low Trust)Interactive BrokersFOREX.comIG
SCB Authorised (Bahamas)NoNoNo
IFSC Authorised (Belize)NoNoNo
CIMA Authorised (Cayman Islands)NoYesNo
BMA Authorised (Bermuda)NoNoYes
FSC Authorised (British Virgin Islands)NoNoNo
FSC Authorised (Mauritius)NoNoNo
VFSC Authorised (Vanuatu)NoNoNo
InvestmentsInteractive BrokersFOREX.comIG
Forex Trading (Spot or CFDs)YesYesYes
Tradeable Symbols (Total)8500550019537
Forex Pairs (Total)9091100
U.S. Stock Trading (Non CFD)YesNoYes
Int'l Stock Trading (Non CFD)YesNoYes
Social Trading / Copy TradingNoNoYes
Cryptocurrency (Physical)YesNoNo
Cryptocurrency (CFD)NoYesYes
DisclaimersNote: 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).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).
CostInteractive BrokersFOREX.comIG
Average Spread EUR/USD - Standard0.6 (Aug 2022)1.0 (July 2022)0.86 (September 2022)
All-in Cost EUR/USD - Active0.6 (Aug 2022)1.0 (July 2022)0.5957 (September 2022)
Active Trader or VIP DiscountsYesYesYes
Execution: Agency BrokerYesNoYes
Execution: Market MakerNoYesYes
FundingInteractive BrokersFOREX.comIG
Minimum Initial Deposit$0$100ยฃ250.00
PayPal (Deposit/Withdraw)NoYesYes
Skrill (Deposit/Withdraw)NoNoNo
Visa/Mastercard (Credit/Debit)NoYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Trading PlatformsInteractive BrokersFOREX.comIG
Proprietary PlatformYesYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
Social Trading / Copy TradingNoNoYes
MetaTrader 4 (MT4)NoYesYes
MetaTrader 5 (MT5)NoYesNo
cTraderNoNoNo
DupliTradeNoNoNo
ZuluTradeNoNoNo
Trading ToolsInteractive BrokersFOREX.comIG
Virtual Trading (Demo)YesYesYes
Alerts - Basic FieldsYesYesYes
Watchlists - Total Fields6402014
Charting - Indicators / Studies (Total)12820333
Charting - Drawing Tools (Total)852520
Charting - Trade From ChartYesYesYes
Charts can be savedYesYesYes
Mobile TradingInteractive BrokersFOREX.comIG
Android AppYesYesYes
Apple iOS AppYesYesYes
Mobile Alerts - Basic FieldsYesYesYes
Mobile WatchlistYesYesYes
Watchlist SyncingYesYesYes
Mobile Charting - Indicators / Studies978833
Mobile Charting - Draw TrendlinesYesYesYes
Mobile Charting - Multiple Time FramesYesYesYes
Mobile Charting - Drawings AutosaveNoYesYes
Forex CalendarYesYesYes
ResearchInteractive BrokersFOREX.comIG
Daily Market CommentaryYesYesYes
Forex News (Top-Tier Sources)YesYesYes
AutochartistNoNoYes
Trading Central (Recognia)YesYesNo
Social Sentiment - Currency PairsYesYesYes
Economic CalendarYesYesYes
EducationInteractive BrokersFOREX.comIG
Has Education - Forex or CFDsYesYesYes
Client WebinarsYesYesYes
Client Webinars (Archived)YesNoYes
Videos - Beginner Trading VideosYesYesYes
Videos - Advanced Trading VideosYesNoYes
Investor Dictionary (Glossary)YesYesYes
Major Forex PairsInteractive BrokersFOREX.comIG
GBP/USDYesYesYes
USD/JPYYesYesYes
EUR/USDYesYesYes
USD/CHFYesYesYes
USD/CADYesYesYes
NZD/USDYesYesYes
AUD/USDYesYesYes
ReviewInteractive Brokers ReviewFOREX.com ReviewIG Review
OverallInteractive BrokersFOREX.comIG
Overall Rating5 Stars5 Stars5 Stars
Commissions & Fees5 Stars4.5 Stars5 Stars
Offering of Investments5 Stars5 Stars5 Stars
Platform & Tools5 Stars5 Stars5 Stars
Mobile Trading5 Stars5 Stars5 Stars
Research5 Stars4.5 Stars5 Stars
Education4.5 Stars4.5 Stars5 Stars
Trust Score999999
Winnercheck_circle
ReviewInteractive Brokers ReviewFOREX.com ReviewIG Review
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Interactive Brokers vs FOREX.com Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Interactive Brokers vs FOREX.com.

Does Interactive Brokers or FOREX.com offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Interactive Brokers offers better pricing overall for traders.

Is Interactive Brokers or FOREX.com safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Interactive Brokers holds 8 global Tier-1 licenses, while FOREX.com holds 4. FOREX.com holds 2 global Tier-2 licenses, while Interactive Brokers holds 1. In our analysis of 23 international regulators across 50 brokers, Interactive Brokers and FOREX.com earned the same Trust Score.

Which trading platform is better: Interactive Brokers or FOREX.com?

To compare the trading platforms of both Interactive Brokers and FOREX.com, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, IG offers a better experience. With research, IG offers superior market research. Finally, we found IG to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.Copy trading is not offered by either broker.

How many forex pairs and CFDs are available to trade?

FOREX.com provides traders 91 currency pairs (e.g., EUR/USD) compared to Interactive Brokers's 90 available pairs. Forex pairs aside, Interactive Brokers offers traders access to 8500 CFDs while FOREX.com has 5500 available CFDs, a difference of 3000.

Can I trust Interactive Brokers?

Interactive Brokers is publicly traded, does not operate a bank, and is authorised by nine tier-1 regulators (high trust), one tier-2 regulators (average trust), and zero tier-3 regulators (low trust). Interactive Brokers is authorised by the following tier-1 regulators: Investment Industry Regulatory Organization of Canada (IIROC), Central Bank of Ireland (CBI), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Financial Conduct Authority (FCA), Monetary Authority of Singapore (MAS), and the Commodity Futures Trading Commission (CFTC).

Can I trust FOREX.com?

FOREX.com is publicly traded, does not operate a bank, and is authorised by four tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulator (low trust). City Index is authorised by the following tier-1 regulators: Investment Industry Regulatory Organization of Canada (IIROC), Japanese Financial Services Authority (JFSA), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC).

Is Interactive Brokers good?

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.

Is FOREX.com good?

FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms โ€“ alongside limited access to MetaTrader.

Overall winner: IG

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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