To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare Interactive Brokers vs LCG.
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 LCG's 3.00 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. Interactive Brokers alongside LCG are regulated in a major hub. Interactive Brokers alongside LCG are publicly traded companies. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. LCG trails Interactive Brokers by 33 total currency pairs (for example, EUR/USD), with Interactive Brokers offering 115 and LCG offering 82.
To round out our comparison of Interactive Brokers vs LCG, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. LCG 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. LCG 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 LCG's 51 available indicators.
Overall, Interactive Brokers boasts 4.50 stars versus LCG's 4.00 stars. And, when it comes to individual category awards, both Interactive Brokers and LCG 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.