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Interactive Brokers vs FXOpen 2019

Is FXOpen better than Interactive Brokers? After scoring forex brokers on nearly 100 different variables, Interactive Brokers is better than FXOpen. Professional traders and highly experienced investors 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 FXOpen
Overall 4 3
Interactive Brokers Review FXOpen Review
63.5% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money

Regulation

Feature Interactive Brokers FXOpen
Trust Score 91 74
Year Founded
1977 2003
Publicly Traded (Listed)
Yes No
Bank
No No
Tier-1 Licenses
5 1
Tier-2 Licenses
0 0
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

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

Investments

Feature Interactive Brokers FXOpen
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
No Yes
Currency Pairs (Total Forex pairs)
105 95
CFDs - Total Offered
6100 16
Cryptocurrency traded as actual
No Yes
Cryptocurrency traded as CFD
Yes Yes
Offering of Investments 4.5 3
Winner check_circle

Cost

Feature Interactive Brokers FXOpen
Average Spread EUR/USD - Standard
N/A N/A
All-in Cost EUR/USD - Active
N/A N/A
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 4 3.5
Winner check_circle

Funding

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

Trading Platforms

Feature 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

Trading Tools

Feature Interactive Brokers FXOpen
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
300 7
Charting - Indicators / Studies (Total)
121 51
Charting - Drawing Tools (Total)
9 31
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4 3
Winner check_circle

Mobile Trading

Feature Interactive Brokers FXOpen
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
68 30
Charting - Draw Trend Lines
No Yes
Charting - Trend Lines Moveable
No Yes
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes No
Forex Calendar
No No
Mobile Trading 4 2.5
Winner check_circle

Research

Feature Interactive Brokers FXOpen
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
No No
AutoChartist
No No
Trading Central (Recognia)
Yes No
Delkos Research
No No
Social Sentiment - Currency Pairs
No No
Economic Calendar
Yes Yes
Research 3.5 2
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Education

Feature Interactive Brokers FXOpen
Has Education - Forex
Yes No
Has Education - CFDs
Yes No
Client Webinars
Yes No
Client Webinars (Archived)
Yes No
Videos - Beginner Trading Videos
No No
Videos - Advanced Trading Videos
Yes No
Investor Dictionary (Glossary)
Yes Yes
Education 4 2
Winner check_circle

Major Forex Pairs

Feature 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

Overall

Feature Interactive Brokers FXOpen
Interactive Brokers Review FXOpen Review
Overall 4 3
Winner check_circle
To find the top fx brokers, the team here at ForexBrokers.com collected over 2,200 data points during a several month review of the forex industry. In this fx broker comparison, we will compare FXOpen vs Interactive Brokers.

To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. Interactive Brokers is a better option with a 4.00 star rating over FXOpen's 3.50 star rating.

Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. FXOpen alongside Interactive Brokers are regulated in a major hub. Interactive Brokers is a publicly traded company while FXOpen is not. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. Interactive Brokers offers its clients access to 115 different currency pairs while FXOpen has 95 available pairs, a difference of 20.

To round out our comparison of FXOpen vs Interactive Brokers, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. FXOpen has Meta Trader, Interactive Brokers doesn't. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. FXOpen boasts an offering of 31 charting tools compared to Interactive Brokers's 9 available charting tools. Interactive Brokers boasts an offering of 121 different indicators (for example, moving averages) compared to FXOpen's 51 available indicators.

FXOpen Review
Interactive Brokers Review


Trading CFDs, FX, and cryptocurrencies involves 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 02/18/2019 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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