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Interactive Brokers vs IronFX 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is Interactive Brokers better than IronFX? In our analysis of 23 international regulators across 62 of the best forex brokers, Interactive Brokers is considered low-risk, with an overall Trust Score of 99 out of 99. IronFX is considered average-risk, with an overall Trust Score of 84 out of 99. Learn more about Trust Score.

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Overall RatingInteractive BrokersIronFX
Overall Rating 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 5/5 Stars 3.5/5 Stars
Mobile Trading 5/5 Stars 3.5/5 Stars
Research 5/5 Stars 4/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score 99 84
Winner check_circle
Review Interactive Brokers Review
RegulationInteractive BrokersIronFX
Trust Score 99 84
Year Founded 1977 2010
Publicly Traded (Listed) Yes No
Bank No No
Authorised in European Union Yes info Yes info
Tier-1 Licenses 8 2
Tier-2 Licenses 1 1
Tier-3 Licenses 0 1
Tier-1 Licenses (High Trust)Interactive BrokersIronFX
ASIC Authorised (Australia) Yes Yes
IIROC Authorised (Canada) Yes No
SFC Authorised (Hong Kong) Yes No
CBI Authorised (Ireland) Yes No
FSA Authorised (Japan) Yes No
MAS Authorised (Singapore) Yes No
FINMA Authorised (Switzerland) Yes No
FCA Authorised (U.K.) Yes Yes
CFTC Registered (USA) Yes No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)Interactive BrokersIronFX
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No Yes
SEBI Authorised (India) Yes No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) No No
Tier-3 Licenses (Low Trust)Interactive BrokersIronFX
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No Yes
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
InvestmentsInteractive BrokersIronFX
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 8500 340
Forex Pairs (Total) 90 83
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 (CFD) No 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).
CostInteractive BrokersIronFX
Average Spread EUR/USD - Standard 0.6 info 1.2
All-in Cost EUR/USD - Active 0.6 info N/A
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker Yes Yes
Execution: Market Maker No Yes
FundingInteractive BrokersIronFX
Minimum Deposit $0 $50
PayPal (Deposit/Withdraw) No No
Skrill (Deposit/Withdraw) No Yes
Visa/Mastercard (Credit/Debit) No Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsInteractive BrokersIronFX
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 No
cTrader No No
DupliTrade No No
ZuluTrade No No
Trading ToolsInteractive BrokersIronFX
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 640 7
Charting - Indicators / Studies (Total) 128 30
Charting - Drawing Tools (Total) 85 15
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingInteractive BrokersIronFX
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 Yes
Forex Calendar Yes Yes
ResearchInteractive BrokersIronFX
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist No No
Trading Central (Recognia) Yes Yes
Social Sentiment - Currency Pairs Yes No
Economic Calendar Yes Yes
EducationInteractive BrokersIronFX
Has Education - Forex or CFDs Yes Yes
Client Webinars Yes No
Client Webinars (Archived) Yes Yes
Videos - Beginner Trading Videos Yes Yes
Videos - Advanced Trading Videos Yes No
Investor Dictionary (Glossary) Yes Yes
Major Forex PairsInteractive BrokersIronFX
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
OverallInteractive BrokersIronFX
Overall Rating 5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 5/5 Stars 3.5/5 Stars
Mobile Trading 5/5 Stars 3.5/5 Stars
Research 5/5 Stars 4/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score 99 84
Winner check_circle
Review Interactive Brokers Review
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Interactive Brokers vs IronFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare Interactive Brokers vs IronFX.

Does Interactive Brokers or IronFX offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Interactive Brokers offers better pricing overall for traders.

Is Interactive Brokers or IronFX safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Interactive Brokers holds 8 global Tier-1 licenses, while IronFX holds 2. Both Interactive Brokers and IronFX hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, Interactive Brokers earned a higher Trust Score than IronFX.

Which trading platform is better: Interactive Brokers or IronFX?

To compare the trading platforms of both Interactive Brokers and IronFX, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Interactive Brokers offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.Copy trading is not offered by either broker.

How many forex pairs and CFDs are available to trade?

Interactive Brokers provides traders 90 currency pairs (e.g., EUR/USD) compared to IronFX's 83 available pairs. Forex pairs aside, Interactive Brokers offers traders access to 8500 CFDs while IronFX has 340 available CFDs, a difference of 8160.

Can I trust Interactive Brokers?

Interactive Brokers is publicly traded, does not operate a bank, and is authorised by nine tier-1 regulators (high trust), one tier-2 regulators (average trust), and zero tier-3 regulators (low trust). Interactive Brokers is authorised by the following tier-1 regulators: Investment Industry Regulatory Organization of Canada (IIROC), Central Bank of Ireland (CBI), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Financial Conduct Authority (FCA), Monetary Authority of Singapore (MAS), and the Commodity Futures Trading Commission (CFTC).

Can I trust IronFX?

IronFX is not publicly traded and does not operate a bank. IronFX is authorised by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and one tier-3 regulator (low trust). IronFX is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA).

Is Interactive Brokers good?

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.

Is IronFX good?

IronFX has come a long way to rebuild its brand, acquiring multiple regulatory licenses to improve its Trust Score, and creating balanced educational material. That said, pricing is an area where Iron FX has room to further improve as spreads appeared higher than the industry average.

Overall winner: Interactive Brokers

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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