Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs FXOpen, 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 FXOpen both provide online brokerage services, but they differ significantly in their history, regulatory credentials, and public presence. Founded in 1977, Interactive Brokers is a well-established firm that is publicly traded, while FXOpen, founded in 2003, remains a privately-held company. Although neither is a bank, the regulatory standing of each broker underscores their distinct levels of trustworthiness.
Interactive Brokers excels with a ForexBrokers.com Trust Score of 99 and holds nine Tier-1 licenses along with two Tier-2 licenses, reflecting a high degree of regulatory compliance. This positions them as highly trusted. In contrast, FXOpen holds a ForexBrokers.com Trust Score of 76, placing them in the average risk category with two Tier-1 licenses and no Tier-2 licenses. This comparison highlights Interactive Brokers' superior regulatory standing and public trust over FXOpen.
| Feature |
Interactive Brokers
|
FXOpen
|
|---|---|---|
| Year Founded | 1977 | 2003 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
When comparing Interactive Brokers to FXOpen in terms of commissions and fees, Interactive Brokers emerges as a top choice. While they do not publish average spreads for forex, data from Q3 2024 reveals an average spread of 0.19 pips for EUR/USD, with an effective all-in spread of 0.59 pips after commission. This broker charges a commission starting at 0.00002 (0.2 basis points) of the U.S. dollar trade value per side, with a minimum of $2 per order. Active traders can benefit from discounts, reducing the minimum charge to as low as $1 per order for high trading volumes. Interactive Brokers' unique approach involves aggregating prices from 17 major interbank dealers, ensuring agency execution which is favored by traders seeking transparency. With a five-star rating and a #2 ranking out of 63 brokers for commissions and fees by ForexBrokers.com, Interactive Brokers maintains a strong position in the industry.
FXOpen, on the other hand, lacks average spread data, making direct comparisons on pricing difficult. Despite this, FXOpen holds a respectable four-star rating in the commissions and fees category. When ranked against 63 other brokers, FXOpen comes in at #44, indicating there may be room for improvement in their pricing model compared to some of their more highly ranked peers.
In summary, Interactive Brokers offers competitive pricing with low commissions and volume-based discounts that particularly benefit active traders, earning them a stellar rating and high ranking in the industry. FXOpen, while rated decently, ranks much lower, primarily due to the unavailability of critical pricing data. Traders looking for cost-effectiveness alongside transparent pricing would find Interactive Brokers a more attractive option.
| Feature |
Interactive Brokers
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 0.59 | N/A |
| All-in Cost EUR/USD - Active | 0.59 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the investment options between Interactive Brokers and FXOpen, there's a clear distinction in the breadth of opportunities available to traders. Interactive Brokers stands out with a staggering 8,500 tradeable symbols, allowing clients to access both U.S. and international exchange-traded securities, such as the ability to buy Apple or Vodafone shares directly. In the realm of forex trading, Interactive Brokers provides 90 tradeable forex pairs and supports both CFD and spot contract trading. Additionally, clients can invest in actual cryptocurrencies and cryptocurrency derivatives, contributing to their impressive 5-star rating for the Range of Investments category.
On the other hand, FXOpen offers a more limited selection, with only 87 tradeable symbols and 25 forex pairs. While it provides forex trading through CFDs and supports cryptocurrency derivatives, it falls short in offering direct investments in U.S. or international exchange-traded securities and actual delivered cryptocurrencies. However, FXOpen does cater to traders interested in copy trading, a feature not available with Interactive Brokers. Despite these offerings, FXOpen's Range of Investments rating is 3 stars, with the broker ranked #62 out of 63 in this category by ForexBrokers.com, in contrast to Interactive Brokers' #1 ranking.
| Feature |
Interactive Brokers
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 87 |
| Forex Pairs (Total) | 90 | 25 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| 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). |
Dive deeper: Best Copy Trading Platforms.
Interactive Brokers and FXOpen both offer user-friendly trading platforms with virtual demo accounts available to help you get started with simulated trading. Interactive Brokers stands out by offering a fully developed in-house platform, catering to those who prefer proprietary tools. On the other hand, FXOpen does not have its own proprietary platform but compensates with the popular MetaTrader 4 and MetaTrader 5 options. Both brokers provide a Windows-based desktop download and a web-based trading platform, making them accessible across different devices. However, for those interested in copy trading, FXOpen offers this feature while Interactive Brokers does not.
When it comes to charting and technical tools, Interactive Brokers impresses with 85 drawing tools compared to FXOpen's 15. For watch lists, Interactive Brokers offers an outstanding 659 fields, far surpassing FXOpen's modest 7 fields. Both brokers allow trading directly from stock charts. Interactive Brokers shines in overall platform quality, receiving a 5-star rating and ranking third out of 63 brokers in the Trading Platforms and Tools category by ForexBrokers.com. Meanwhile, FXOpen holds a respectable 4-star rating and ranks 53rd in the same category, making it a solid choice for traders who prioritize platform reliability and comprehensive toolsets.
| Feature |
Interactive Brokers
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| 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 |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 155 | 30 |
| Charting - Drawing Tools (Total) | 85 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Interactive Brokers and FXOpen offer iPhone and Android mobile apps that facilitate trading on the go. These mobile platforms provide crucial features like stock and forex price alerts, and the ability to draw trendlines and view multiple time frames on charts. Where Interactive Brokers clearly stands out is in watchlist symbol syncing between the mobile app and online account—ensuring seamless updates regardless of where changes are made, a feature FXOpen lacks. Additionally, Interactive Brokers offers a wider range of technical studies for charting, boasting 97 compared to FXOpen's 30, giving users more tools to enhance their trading strategies.
When it comes to overall app performance and user satisfaction, Interactive Brokers is rated higher with 5 stars and a prestigious #4 ranking out of 63 brokers, according to ForexBrokers.com. Meanwhile, FXOpen trails with a 4-star rating and sits at #54. Both brokers offer the capability to create watchlists with real-time quotes, but neither app saves chart drawings automatically, which might require users to re-enter them with each session. For traders prioritizing a more comprehensive mobile trading experience with advanced features and higher user ratings, Interactive Brokers emerges as the more compelling choice.
| Feature |
Interactive Brokers
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 97 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Interactive Brokers and FXOpen both provide daily market commentary and access to renowned forex news from leading sources like Bloomberg and Reuters. However, when it comes to research tools and additional features, Interactive Brokers takes a significant lead. It offers advanced tools from Trading Central and sentiment-based trading tools that give insights into market dynamics. Moreover, Interactive Brokers provides market research through TipRanks and research features from Acuity Trading such as Signal Centre.
On the other side, FXOpen lacks these particular research tools, resulting in a less comprehensive offering for traders seeking deep market insights. Both brokers do offer economic calendars to keep users informed about global events. In rankings, Interactive Brokers earns a stellar 5-star rating for its research offerings and stands third among 63 brokers reviewed by ForexBrokers.com. FXOpen, however, receives a 3-star rating, placing it at the bottom of the list at 63rd position.
| Feature |
Interactive Brokers
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners between Interactive Brokers and FXOpen, Interactive Brokers stands out with a comprehensive range of offerings. They provide over ten educational materials focusing on forex and CFDs, alongside interactive monthly webinars to enhance learning. Beginners can also find a wealth of educational videos tailored to their level of expertise, as well as advanced content for more experienced traders. Additionally, Interactive Brokers maintains a searchable archive of past webinars and an investor dictionary with over 50 terms, making it an excellent resource for new traders. This extensive range of educational tools has earned Interactive Brokers a 5-star rating and the number 3 spot in the Education category out of 63 brokers.
In contrast, FXOpen lags behind in educational offerings for beginners. They do not meet the minimum threshold of ten educational materials on forex or CFDs and lack the provision of monthly webinars or an archive of recorded sessions. Their educational video collection is also insufficient for both beginner and advanced traders. Although FXOpen offers a dictionary of investing terms, their overall educational resources have received a lower rating of 3 stars, placing them at number 58 in the Education category. For beginners seeking a rich and supportive educational environment, Interactive Brokers provides a more comprehensive and engaging experience compared to FXOpen.
| Feature |
Interactive Brokers
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| 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 FXOpen. Interactive Brokers finished with an overall rank of #2, while FXOpen finished with an overall rank of #54.
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
|
FXOpen
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 76 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
While Interactive Brokers and FXOpen both provide options for trading cryptocurrency derivatives, only Interactive Brokers offers the capability to purchase actual delivered cryptocurrencies, making it a more comprehensive platform for those interested in owning the cryptocurrency itself.
Interactive Brokers supports ACH, SEPA, and bank wire transfers for depositing or withdrawing account funds, whereas FXOpen does not offer ACH or SEPA but provides funding via bank wires, Skrill, Visa, and Mastercard; neither broker supports PayPal transactions.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Interactive Brokers | FXOpen | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 76 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review |
| Broker Screenshots | Interactive Brokers | FXOpen | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| Regulation | Interactive Brokers | FXOpen | |
|---|---|---|---|
| Trust Score | 99 | 76 | |
| Year Founded | 1977 | 2003 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 87 | |
| Forex Pairs (Total) | 90 | 25 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| 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). |
| Cost | Interactive Brokers | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | N/A | |
| All-in Cost EUR/USD - Active | 0.59 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Interactive Brokers | FXOpen | |
|---|---|---|---|
| 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 | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Interactive Brokers | FXOpen | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 7 | |
| Charting - Indicators / Studies (Total) | 155 | 30 | |
| Charting - Drawing Tools (Total) | 85 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | FXOpen | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 97 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Interactive Brokers | FXOpen | |
|---|---|---|---|
| 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 |
| Overall | Interactive Brokers | FXOpen | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 76 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill