Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs FXGT.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 FXGT.com offer distinct attributes when it comes to their regulatory credentials and trust. Founded in 1977, Interactive Brokers stands as a well-established entity with a ForexBrokers.com Trust Score of 99, categorizing it as highly trusted. As a publicly traded company, Interactive Brokers is regulated with 9 Tier-1 licenses and 2 Tier-2 licenses, reflecting a high level of global oversight. Meanwhile, FXGT.com, founded in 2019, is a relatively new player in the industry. It holds a Trust Score of 69, which places it in the high-risk category. Unlike Interactive Brokers, FXGT.com is not publicly traded and holds 1 Tier-1 license along with 1 Tier-2 license.
For those evaluating online brokers, Interactive Brokers may appeal to those prioritizing trust and extensive regulatory coverage, given its longer track record and publicly traded status. Meanwhile, FXGT.com may appeal to users who are exploring newer or different trading platforms, though they may need to weigh the broker's regulatory standing and its associated risks. Understanding these factors can play a crucial role for traders in choosing a suitable platform based on their risk tolerance and preferences.
| Feature |
Interactive Brokers
|
FXGT.com
|
|---|---|---|
| Year Founded | 1977 | 2019 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 1 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
When evaluating online brokers for forex trading, understanding their commissions and fees can make a significant difference. Interactive Brokers emerges as a highly competitive choice in terms of pricing, although pinpointing exact spreads is tricky as they do not publish average spreads for forex. However, during Q3 2024, their average spread for EUR/USD was an impressive 0.19 pips, resulting in an effective all-in spread of 0.59 pips after commission. Commissions per side initially start at 0.2 basis points of the trade value in U.S. dollars, with a minimum charge of $2 per order. This fee can decrease to 0.08 basis points for highly active traders. Interactive Brokers also offers discounts for traders who surpass specific monthly trading volumes, sometimes reducing charges to as low as $1 per order. They are rated a solid 5 stars for their commission and fee structure and are ranked 2nd out of 63 brokers by ForexBrokers.com.
In comparison, FXGT.com doesn't provide specific average spread data for their forex trades, making it challenging to evaluate their competitiveness directly through spreads. Unlike Interactive Brokers, FXGT.com has a rating of 3.5 stars in commissions and fees and is ranked 56th out of 63 brokers. While this may suit certain trading strategies or preferences, traders interested in minimizing costs might find Interactive Brokers' numerous discounts and lower commission options more appealing.
Overall, while both brokers present distinct advantages, Interactive Brokers demonstrates a clearer commitment to low costs and offers a transparent commission structure, especially suited to active traders looking to capitalize on cumulative trading benefits. FXGT.com might lack the granular detail in spread reporting and competitive pricing that discerning forex traders look for when evaluating broker options.
| Feature |
Interactive Brokers
|
FXGT.com
|
|---|---|---|
| Minimum Deposit | $0 | $5 |
| 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 | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | No |
| 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 FXGT.com, Interactive Brokers stands out with a significantly larger variety of choices. Interactive Brokers offers a broad selection of 8,500 tradeable symbols, including 90 forex pairs. It provides access to exchange-traded securities on U.S. and international exchanges, enabling clients to invest in well-known companies such as Apple and Vodafone. Additionally, Interactive Brokers allows investors to purchase both actual cryptocurrencies and cryptocurrency derivatives. In contrast, FXGT.com offers a more limited selection, with 117 tradeable symbols and 53 forex pairs. Unlike Interactive Brokers, FXGT.com does not support buying actual cryptocurrencies or exchange-traded securities; however, it does offer copy trading and cryptocurrency derivatives.
With regard to the investment range quality, Interactive Brokers is rated significantly higher, earning five stars, while FXGT.com receives three stars. This disparity is reflected in their rankings; Interactive Brokers is placed at the top spot, number one out of 63 brokers in ForexBrokers.com's assessment of investment range, whereas FXGT.com is positioned near the bottom at rank 61. These distinctions highlight Interactive Brokers as a more versatile choice for investors looking for a broader spectrum of investment options.
| Feature |
Interactive Brokers
|
FXGT.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 117 |
| Forex Pairs (Total) | 90 | 53 |
| 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). | 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 FXGT.com both offer traders a range of tools and platforms, though they differ significantly in various aspects. For traders keen on experimenting without financial risk, both platforms provide simulated trading through free virtual demo accounts. Interactive Brokers stands out with its proprietary platform and 5-star rating for trading tools, ranking #3 out of 63 brokers. Additionally, it offers a desktop download platform for Windows, a web-based platform, and allows trading directly from stock charts. While it doesn't support popular platforms like MetaTrader 4 and 5, it compensates with a vast selection of 85 drawing tools and an impressive 659 columns for watch lists, catering extensively to customized trading needs.
On the other hand, FXGT.com provides a slightly different suite with a 4-star trading tools rating and is ranked #56 by ForexBrokers.com. Though it lacks a proprietary platform, it supports both MetaTrader 4 and 5, which are favored by many forex traders for their reliability and features. FXGT.com does offer a desktop platform for Windows and a browser-based interface, similar to Interactive Brokers. It supports copy trading, unlike its competitor, which could appeal to traders looking to mirror expert strategies. However, with only 23 drawing tools and 5 columns in watch lists, FXGT.com may seem limited for those needing extensive customization in their trading approach.
| Feature |
Interactive Brokers
|
FXGT.com
|
|---|---|---|
| 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 | No |
| Charting - Indicators / Studies (Total) | 155 | 37 |
| Charting - Drawing Tools (Total) | 85 | 23 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 5 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Interactive Brokers and FXGT.com both provide mobile trading apps for iPhone and Android users, catering to traders who value convenience and flexibility. Both platforms offer important features such as stock and forex price alerts, watchlist symbol syncing across mobile and online accounts, and the ability to draw trendlines on charts. Users on either app can also enjoy real-time watchlists, ensuring they stay updated with the latest market movements. However, while both apps support viewing different time frames on charts, FXGT.com's app uniquely offers auto-saving of chart drawings, which is absent in Interactive Brokers' app.
Despite these similarities, Interactive Brokers leads the pack with 97 technical studies available for its charting features compared to only 30 on FXGT.com's app. Reflecting their overall user satisfaction and performance, Interactive Brokers' mobile app is rated at 5 out of 5 stars and is ranked #4 among 63 brokers, indicating a well-received and comprehensive trading experience. In contrast, FXGT.com's app holds a rating of 3.5 stars and ranks #58, suggesting room for improvement. For traders prioritizing advanced charting tools and a highly-rated app experience, Interactive Brokers stands out as a preferable choice.
| Feature |
Interactive Brokers
|
FXGT.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 | 30 |
| 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 it comes to market research capabilities, Interactive Brokers offers an edge over FXGT.com in several key areas. It provides daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters, which FXGT.com does not. Interactive Brokers also features a wide array of research tools, including those from Trading Central and market insights from TipRanks and Acuity Trading. While both brokers provide an economic calendar displaying global news events, Interactive Brokers' comprehensive research tools contribute to its exceptional 5-star research rating.
FXGT.com, on the other hand, offers a sentiment-based trading tool similar to Interactive Brokers, showing a ratio of long or short positions across various currency pairs. However, it lacks the depth and variety of resources provided by Interactive Brokers. With a research ranking of #56 out of 63 brokers by ForexBrokers.com, compared to Interactive Brokers' impressive #3 position, FXGT.com trails behind in offering in-depth market analysis and research support.
| Feature |
Interactive Brokers
|
FXGT.com
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| 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.
When it comes to educational resources for beginners, Interactive Brokers shines compared to FXGT.com. Interactive Brokers offers a comprehensive suite of educational tools, including forex and CFDs education with more than 10 articles or videos on these subjects. They provide regular live webinars at least once a month, and a searchable archive of previous sessions. Beginner traders can also benefit from over 10 videos that cover fundamental trading topics, alongside more advanced content for seasoned traders. Their expansive investor dictionary further supports learning with over 50 investing terms clearly defined. With such extensive resources, it's no surprise Interactive Brokers earns a 5-star education rating and ranks #3 out of 63 brokers in the Education category by ForexBrokers.com.
In contrast, FXGT.com falls short in educational offerings for new traders. They do not meet the same standard as Interactive Brokers, lacking at least 10 educational pieces focused on forex or CFDs, and they do not host monthly client webinars or provide an archive of past sessions. FXGT.com's educational support includes an investor dictionary but they do not offer the same depth of beginner or advanced educational videos. Overall, FXGT.com has a lower 3-star education rating and is ranked #60 in the Education category by ForexBrokers.com, indicating a significant gap in their educational resources compared to Interactive Brokers.
| Feature |
Interactive Brokers
|
FXGT.com
|
|---|---|---|
| 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 FXGT.com. Interactive Brokers finished with an overall rank of #2, while FXGT.com finished with an overall rank of #59.
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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FXGT.com
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|---|---|---|
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| Trust Score | 99 | 69 |
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Interactive Brokers and FXGT.com both provide options for trading cryptocurrency derivatives, but only Interactive Brokers allows clients to purchase actual cryptocurrencies, whereas FXGT.com restricts users to derivatives only.
Interactive Brokers and FXGT.com both support ACH or SEPA transfers and bank wires for account deposits and withdrawals, but neither provides PayPal or Skrill options, with FXGT.com uniquely offering Visa or Mastercard 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 | FXGT.com | |
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| Trust Score | 99 | 69 | |
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| Review | Interactive Brokers Review |
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| Regulation | Interactive Brokers | FXGT.com | |
|---|---|---|---|
| Trust Score | 99 | 69 | |
| Year Founded | 1977 | 2019 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 1 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | FXGT.com | |
|---|---|---|---|
| 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 | No | |
| 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 | FXGT.com | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | FXGT.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 117 | |
| Forex Pairs (Total) | 90 | 53 | |
| 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). | 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 | FXGT.com | |
|---|---|---|---|
| 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 | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | FXGT.com | |
|---|---|---|---|
| Minimum Deposit | $0 | $5 | |
| PayPal (Deposit/Withdraw) | No | No | |
| 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 | FXGT.com | |
|---|---|---|---|
| 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 | No |
| Trading Tools | Interactive Brokers | FXGT.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 5 | |
| Charting - Indicators / Studies (Total) | 155 | 37 | |
| Charting - Drawing Tools (Total) | 85 | 23 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | FXGT.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 | 30 | |
| 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 | FXGT.com | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | FXGT.com | |
|---|---|---|---|
| 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 | FXGT.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 |
| Overall | Interactive Brokers | FXGT.com | |
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| Trust Score | 99 | 69 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review |
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