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Interactive Brokers vs FP Markets 2020

Is FP Markets better than Interactive Brokers? After testing 30 of the best forex brokers over five months, Interactive Brokers is better than FP Markets. Professional traders looking for a complete multi-asset broker will find Interactive Brokers offers a comprehensive platform with competitive fees across multiple global financial markets.



CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall Rating

Feature Interactive Brokers FP Markets
Overall 4.5 4
Interactive Brokers Review FP Markets Review
66% of retail CFD accounts lose money The vast majority of retail CFD accounts lose money

Regulation

Feature Interactive Brokers FP Markets
Trust Score 94 81
Year Founded
1977 2005
Publicly Traded (Listed)
Yes No
Bank
No No
Tier-1 Licenses
6 1
Tier-2 Licenses
0 1
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature Interactive Brokers FP Markets
ASIC Authorised (Australia)
No Yes
IIROC Authorised (Canada)
Yes No
SFC Authorised (Hong Kong)
Yes No
FSA Authorised (Japan)
Yes No
MAS Authorised (Singapore)
Yes No
FINMA Authorised (Switzerland)
Yes No
FCA Authorised (UK)
Yes No
CFTC Registered (USA)
Yes No

Investments

Feature Interactive Brokers FP Markets
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
No Yes
Currency Pairs (Total Forex pairs)
105 61
CFDs - Total Offered
7400 8908
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
Yes Yes
Offering of Investments 4.5 4.5
Winner check_circle

Cost

Feature Interactive Brokers FP Markets
Average Spread EUR/USD - Standard
N/A 1.14 (June 2020)
All-in Cost EUR/USD - Active
N/A 0.64 (June 2020)
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 4 4.5
Winner check_circle

Funding

Feature Interactive Brokers FP Markets
Minimum Initial Deposit
$0 $100 AUD
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
No Yes
PayPal (Deposit/Withdraw)
No Yes
Skrill (Deposit/Withdraw)
No Yes

Trading Platforms

Feature Interactive Brokers FP Markets
Proprietary Platform
Yes No
Desktop Platform (Windows)
Yes Yes
Web Platform
Yes Yes
Social Trading / Copy-Trading
No Yes
MetaTrader 4 (MT4)
No Yes
MetaTrader 5 (MT5)
No Yes
cTrader
No No

Trading Tools

Feature Interactive Brokers FP Markets
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
494 Default (MT4/MT5)
Charting - Indicators / Studies (Total)
121 59
Charting - Drawing Tools (Total)
9 Default (MT4/MT5)
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes No
Order Type - Trailing Stop
Yes No
Platform & Tools 4.5 3.5
Winner check_circle

Mobile Trading

Feature Interactive Brokers FP Markets
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
Yes No
Charting - Indicators / Studies
70 Default (MT4/MT5)
Charting - Draw Trend Lines
No No
Charting - Trend Lines Moveable
No No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes No
Forex Calendar
No No
Mobile Trading 4 3.5
Winner check_circle

Research

Feature Interactive Brokers FP Markets
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
No No
AutoChartist
No Yes
Trading Central (Recognia)
Yes No
Delkos Research
No No
Social Sentiment - Currency Pairs
No Yes
Economic Calendar
Yes Yes
Research 4.5 3.5
Winner check_circle

Education

Feature Interactive Brokers FP Markets
Has Education - Forex
Yes Yes
Has Education - CFDs
Yes Yes
Client Webinars
Yes No
Client Webinars (Archived)
Yes Yes
Videos - Beginner Trading Videos
No Yes
Videos - Advanced Trading Videos
Yes Yes
Investor Dictionary (Glossary)
Yes Yes
Education 4 3
Winner check_circle

Major Forex Pairs

Feature Interactive Brokers FP Markets
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

Overall

Feature Interactive Brokers FP Markets
Interactive Brokers Review FP Markets Review
Overall 4.5 4
Winner check_circle

Comparing forex brokers side by side is no easy task. For our 2020 annual forex broker review, we spent hundreds of hours assessing 30 forex and CFD brokerages to find the best forex broker. Let's compare FP Markets vs Interactive Brokers.

Does FP Markets or Interactive Brokers 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 FP Markets or Interactive Brokers safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. Interactive Brokers holds 6 global Tier-1 licenses, while FP Markets holds 1. FP Markets holds 1 global Tier-2 licenses, while Interactive Brokers holds 0. All regulators considered, Interactive Brokers has a Trust Score of 94.00, while FP Markets's Trust Score is 81.00.

Which trading platform is better: FP Markets or Interactive Brokers?
To compare the trading platforms of both FP Markets and Interactive Brokers, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Interactive Brokers offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers 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. While FP Markets offers copy trading, Interactive Brokers does not. FP Markets offers MetaTrader 4 (MT4), while Interactive Brokers does not.

How many forex pairs and CFDs are available to trade?
Interactive Brokers provides traders 105 currency pairs (e.g., EUR/USD) compared to FP Markets's 61 available pairs. Forex pairs aside, FP Markets offers traders access to 8908 CFDs while Interactive Brokers has 7400 available CFDs, a difference of 1,508.

Overall, between FP Markets and Interactive Brokers, Interactive Brokers is the better forex broker.

FP Markets Review
Interactive Brokers Review

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Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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