Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs IronFX, 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, founded in 1977 and publicly traded, stands out as a highly trusted online broker with an impressive Trust Score of 99 according to ForexBrokers.com. It holds nine Tier-1 licenses, making it a strong choice for those prioritizing regulatory safety. While not a bank, Interactive Brokers reassures investors through its extensive regulatory coverage and transparency.
IronFX, established in 2010, is not publicly traded and carries a Trust Score of 83, placing it in the 'trusted' category. The broker holds three Tier-1 licenses but lacks Tier-2 licenses. Although IronFX offers a trustworthy option for traders, it does not match the regulatory strength seen with Interactive Brokers.
| Feature |
Interactive Brokers
|
IronFX
|
|---|---|---|
| Year Founded | 1977 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 3 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to commissions and fees, Interactive Brokers and IronFX present distinct offerings for forex traders. Interactive Brokers stands out with its competitive pricing structure, receiving a top rating of 5 out of 5 stars and ranking second out of 63 brokers in the Commissions and Fees category on ForexBrokers.com. While Interactive Brokers does not publish average forex spreads, information from Q3 2024 indicates an average spread of 0.19 pips for EUR/USD, translating to an all-in spread of 0.59 pips after commission. Forex commissions begin at 0.00002 (0.2 basis points) of the trade value, with a $2 minimum per order, dropping further with higher trading volumes.
IronFX, on the other hand, tends to have higher spreads compared to the industry average, which may impact cost-effectiveness for traders. A standard variable spread account at IronFX lists typical spreads at 1.8 pips, although details are not provided for specific date ranges. For traders opting for a zero fixed-spread account, initial spreads start at zero with an $18 per lot commission, with increased spreads of up to 3 pips overnight. This pricing approach results in IronFX receiving a rating of 4 stars and ranking 47th among 63 brokers in this category.
In summary, while Interactive Brokers delivers more competitive pricing for forex enthusiasts, particularly those with high trading volumes, IronFX's structure may appeal to traders with different priorities despite its higher spread costs. With Interactive Brokers' efficient aggregating of prices from leading interbank forex dealers, traders may find it to be a cost-effective choice, while IronFX could suit those seeking distinct account structures.
| Feature |
Interactive Brokers
|
IronFX
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 0.59 | 1.2 |
| All-in Cost EUR/USD - Active | 0.59 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Interactive Brokers and IronFX each offer investors a variety of investment options tailored to different trading styles, but their offerings significantly differ in breadth. Interactive Brokers boasts an impressive array of 8,500 tradeable symbols, including 90 forex pairs, empowering traders with a diverse suite of investment opportunities. These encompass exchange traded securities on both U.S. and international exchanges, allowing for the direct purchase of major stocks like Apple and Vodafone, and the acquisition of actual cryptocurrencies. This wide selection has earned Interactive Brokers a top rating of 5 stars for their range of investments and the distinction of being ranked #1 by ForexBrokers.com.
Conversely, IronFX provides a more limited range of investment options with 340 tradeable symbols and 83 forex pairs. While it offers forex trading as a CFD or spot contract and provides access to cryptocurrency derivatives, it lacks the ability to purchase actual cryptocurrencies or exchange traded securities on major international exchanges. However, IronFX distinguishes itself with the provision of copy trading services, appealing to those who prefer automated trading strategies. Despite these offerings, IronFX's investment range receives a 3.5-star rating and is ranked #51 by ForexBrokers.com, making Interactive Brokers the preferable choice for those seeking extensive investment capabilities.
| Feature |
Interactive Brokers
|
IronFX
|
|---|---|---|
| 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 (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.
When it comes to choosing a trading platform, Interactive Brokers and IronFX provide different offerings tailored to diverse trading needs. Interactive Brokers shines with its proprietary platform, offering comprehensive trading tools including 85 drawing tools and the ability to trade directly from stock charts. This platform is also accessible on both Windows-based desktops and web browsers. However, it does not support MetaTrader 4 (MT4) or MetaTrader 5 (MT5), nor does it offer copy trading. On a positive note, Interactive Brokers stands out with an extensive 659 columns for its watch lists and holds a high ForexBrokers.com ranking for trading platforms, placing third out of 63. Furthermore, traders can practice their strategies via a free virtual demo account.
IronFX, on the other hand, also provides web-based and Windows desktop trading platforms, yet it doesn’t offer a proprietary platform. IronFX supports MT4 and includes copy trading features, catering to traders looking for social trading options. However, IronFX lags behind with only 15 drawing tools and a limited seven columns for its watch lists. While IronFX also provides a virtual demo account for practice, its overall rating for trading platforms and tools is 3.5 stars, and it is ranked 61st by ForexBrokers.com. For traders prioritizing comprehensive tools and charting capabilities, Interactive Brokers seems to be the more robust choice, whereas IronFX may appeal to those interested in MT4 and copy trading functionalities.
| Feature |
Interactive Brokers
|
IronFX
|
|---|---|---|
| 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 | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 30 |
| Charting - Drawing Tools (Total) | 85 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
For traders seeking a mobile platform, both Interactive Brokers and IronFX offer iPhone and Android apps that include essential features such as real-time quotes and price alerts. Interactive Brokers stands out with its superior offering of 97 technical studies for charting, eclipsing IronFX's 30 technical studies. Both platforms support drawing trendlines and viewing multiple time frames on charts. However, IronFX has a minor advantage by auto-saving chart drawings, while Interactive Brokers does not.
In the realm of syncing capabilities, Interactive Brokers provides seamless watchlist synchronization between mobile and online platforms, a feature IronFX lacks. This syncing ability makes Interactive Brokers a more integrated choice for traders who use multiple devices. This is perhaps reflected in their ratings, with Interactive Brokers receiving 5 stars and ranking 4th out of 63 brokers by ForexBrokers.com. Meanwhile, IronFX, with a 3.5-star rating, finds itself near the bottom at the 62nd spot. Choosing between the two, Interactive Brokers seems to offer a more comprehensive and higher-rated mobile trading experience.
| Feature |
Interactive Brokers
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | 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 |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, both Interactive Brokers and IronFX provide daily market commentary and forex news from top-tier sources like Bloomberg and Reuters. For technical analysis, each broker offers tools from Trading Central, but neither utilizes Autochartist. Interactive Brokers stands out with a sentiment-based trading tool showing long or short positions across various instruments, an advantage IronFX lacks. Additionally, Interactive Brokers provides market research from TipRanks and tools from Acuity Trading, which IronFX does not offer. Both brokers include an economic calendar to keep investors informed about global news events.
In terms of overall research quality, Interactive Brokers receives a 5-star rating, significantly ahead of IronFX's 4-star rating. This reflects in their rankings as well, with Interactive Brokers securing the 3rd spot out of 63 brokers for research, while IronFX ranks 28th. These distinctions highlight Interactive Brokers as a more comprehensive choice for traders who prioritize in-depth research tools and expert insights. The broker's extensive features cater to traders looking for a wide range of analytical tools to make informed decisions, thereby offering a competitive edge over IronFX.
| Feature |
Interactive Brokers
|
IronFX
|
|---|---|---|
| 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 |
| 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 and IronFX both provide a substantial base with over 10 educational articles, videos, and archived webinars dedicated to forex and CFDs. However, Interactive Brokers takes it a step further by offering monthly online educational client webinars, whereas IronFX does not. Both brokers provide a valuable archive of recorded webinars that learners can access at their convenience.
Interactive Brokers shines in offering in-depth educational video content with resources tailored for both beginners and advanced traders, unlike IronFX, which lacks extensive advanced trading videos. Additionally, both brokers supply an investor dictionary with comprehensive definitions of over 50 investing terms. As a testament to its all-rounded educational offerings, Interactive Brokers scores 5 stars and ranks as the third best out of 63 brokers in the education category according to ForexBrokers.com. IronFX follows with a 4-star rating, placed at 44th. Overall, Interactive Brokers stands out as a more comprehensive choice for those seeking a rich educational platform.
| Feature |
Interactive Brokers
|
IronFX
|
|---|---|---|
| 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 |
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 IronFX. Interactive Brokers finished with an overall rank of #2, while IronFX finished with an overall rank of #48.
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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IronFX
|
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| Trust Score | 99 | 83 |
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Interactive Brokers allows users to purchase actual delivered cryptocurrency and cryptocurrency derivatives, whereas IronFX only offers the ability to buy cryptocurrency derivatives.
Interactive Brokers supports ACH and SEPA transfers and bank wires for account transactions, while IronFX facilitates Skrill, Visa, Mastercard, and bank wires, but does not support ACH or SEPA transfers, and neither platform supports PayPal.
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 | IronFX | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review |
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| Regulation | Interactive Brokers | IronFX | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 1977 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 3 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| 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 | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | IronFX | |
|---|---|---|---|
| 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 (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 | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.59 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | IronFX | |
|---|---|---|---|
| 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 | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Interactive Brokers | IronFX | |
|---|---|---|---|
| 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 Tools | Interactive Brokers | IronFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 7 | |
| Charting - Indicators / Studies (Total) | 155 | 30 | |
| Charting - Drawing Tools (Total) | 85 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | IronFX | |
|---|---|---|---|
| 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 | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | IronFX | |
|---|---|---|---|
| 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 Pairs | Interactive Brokers | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review |
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