Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare FxPro vs Interactive Brokers.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. Both FxPro and Interactive Brokers are rated 4.00 stars.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. FxPro alongside Interactive Brokers are regulated in a major hub. Interactive Brokers is a publicly traded company while FxPro is not. How many currency pairs are available to trade? FxPro trails Interactive Brokers by 15 total currency pairs (for example, EUR/USD), with Interactive Brokers offering 85 and FxPro offering 70.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. FxPro makes Meta Trader available to clients, while Interactive Brokers does not. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Interactive Brokers trails FxPro by 22 total charting tools, with FxPro offering 31 and Interactive Brokers offering 9. FxPro trails Interactive Brokers by 70 total different indicators (for example, moving averages), with Interactive Brokers offering 121 and FxPro offering 51.
Overall, Interactive Brokers boasts 4.50 stars versus FxPro's 4.00 stars. And, when it comes to individual category awards, unfortunately, neither FxPro nor Interactive Brokers received awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education.