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 share a rating of 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, FxPro isn't. How many currency pairs are available to trade? FxPro trails Interactive Brokers by 45 total currency pairs (for example, EUR/USD), with Interactive Brokers offering 115 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 offers Meta Trader 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. FxPro offers its clients access to 31 charting tools while Interactive Brokers has 9 charting tools, a difference of 22. Interactive Brokers boasts an offering of 121 different indicators (for example, moving averages) compared to FxPro's 51 available indicators.
Overall, Interactive Brokers takes the upper hand with 4.50 stars over FxPro's 4.00 stars. And, when it comes to individual category awards, both FxPro and Interactive Brokers found themselves without awards for 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 in 2018.