Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs Spreadex, 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, established in 1977, is a highly trusted online broker with a stellar Trust Score of 99 out of 99 according to ForexBrokers.com. This firm stands out for being publicly traded and holds an impressive number of 9 Tier-1 licenses, indicating a significant level of trust in its operations. Though not a bank, its position in the financial world is solidified by these licenses and its public trading status, offering a level of transparency and reliability that instills confidence in its clients.
In contrast, Spreadex, founded in 1999, has a Trust Score of 71, suggesting an average level of risk. Unlike Interactive Brokers, Spreadex is not publicly traded and holds only 1 Tier-1 license and no Tier-2 licenses, which could imply less regulatory oversight compared to its counterpart. Spreadex, like Interactive Brokers, is not a bank, but the difference in their regulatory standings may appeal to different types of investors based on their risk tolerance and trust preferences.
| Feature |
Interactive Brokers
|
Spreadex
|
|---|---|---|
| Year Founded | 1977 | 1999 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 1 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
When comparing Interactive Brokers and Spreadex on commissions and fees, it's essential to note their different pricing structures. Interactive Brokers shines with a five-star rating, securing the #2 spot out of 63 brokers for commissions and fees according to ForexBrokers.com. The broker offers a competitive forex pricing model with tight spreads; for example, during Q3 2024, the average spread for EUR/USD was 0.19 pips, culminating in an effective all-in spread of 0.59 pips after applying commissions. For forex trading, commissions per side start at 0.00002 (0.2 basis points) of the U.S. dollar trade value, with a minimum fee of $2 per order. This can be reduced further for highly active traders. Interactive Brokers aggregates prices from 17 major interbank forex dealers, charging between $16 to $40 per million round turn.
Spreadex, on the other hand, garnered a respectable four-star rating and ranks at #27 for commissions and fees. In January 2024, the broker published an average spread of 0.81 pips for EUR/USD, reaching a minimum spread of 0.6 pips around 60% of the time. Spreadex focuses on making its pricing transparent by providing its average spread data, which can be a crucial piece of information for traders looking to understand their trading costs more clearly.
In summary, Interactive Brokers stands out for active traders due to its potential for lower commission rates linked to trading volume and tight spreads. In contrast, Spreadex offers a straightforward spread-based model which might be preferable for those who value transparency and stability over commission-based structures. Both brokers have their strengths, with Interactive Brokers being more cost-effective for high-volume traders and Spreadex offering clarity in its fee structure.
| Feature |
Interactive Brokers
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 0.59 | 0.81 |
| All-in Cost EUR/USD - Active | 0.59 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Interactive Brokers and Spreadex both offer forex trading through CFDs or spot contracts. Interactive Brokers boasts 8,500 tradeable symbols and 90 forex pairs, providing extensive options for those seeking variety. Spreadex, on the other hand, offers a slightly larger selection of 10,000 tradeable symbols but fewer forex pairs at 52. When it comes to exchange-traded securities, Interactive Brokers allows clients to buy U.S. and international stocks directly, such as Apple or Vodafone shares. Conversely, Spreadex focuses on CFD trading and does not provide direct access to exchange-traded securities on these markets.
For cryptocurrency enthusiasts, Interactive Brokers provides the flexibility to buy both actual cryptocurrencies and derivatives, whereas Spreadex limits its offerings to cryptocurrency derivatives only. Despite differences, both brokers have received top ratings of five stars for their range of investments. However, Interactive Brokers ranks first, according to ForexBrokers.com, highlighting its diverse investment offerings, compared to Spreadex's rank of thirteenth. Neither broker offers copy trading as part of their services.
| Feature |
Interactive Brokers
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 10000 |
| Forex Pairs (Total) | 90 | 52 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | No |
| 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 comparing trading platforms and tools, Interactive Brokers and Spreadex each bring unique strengths to the table, catering to different trader needs. Both offer simulated trading with a free virtual demo account, allowing users to practice without risk. They each host proprietary platforms, but Interactive Brokers provides a downloadable desktop option for Windows, which Spreadex does not. Both brokers support efficient web-based trading, but neither includes platforms like MetaTrader or tools like DupliTrade and ZuluTrade. A standout for Interactive Brokers is its provision of 85 drawing tools and the ability to customize watch lists extensively with 659 fields. On the other hand, Spreadex offers fewer drawing tools and less customizable watch lists with 11 tools and 8 fields, respectively. Despite these differences, both brokers enable trading directly from stock charts.
Interactive Brokers is highly rated, scoring 5 stars for its trading platforms and tools from ForexBrokers.com. In comparison, Spreadex achieves a respectable 4-star rating. Among 63 peers, Interactive Brokers impressively ranks 3rd in the trading platforms and tools category, showcasing its strong standing in the industry. Meanwhile, Spreadex holds the 46th position, indicating room for improvement. These rankings reflect the comprehensive features and functionality that Interactive Brokers provides, which might be more appealing for advanced traders seeking extensive tools and configurability. Although Spreadex does not offer the same breadth, its user-friendly platform could be a viable option for newcomers or those with more straightforward trading needs.
| Feature |
Interactive Brokers
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 58 |
| Charting - Drawing Tools (Total) | 85 | 11 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 8 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Interactive Brokers and Spreadex both offer iPhone and Android apps for traders on the go, providing essential access to stock and forex markets from mobile devices. While each app allows for stock or forex price alerts and the creation of watchlists with real-time quotes, Interactive Brokers shines with additional features that could make the trading experience more seamless. This includes the ability to sync watchlist symbols with the user's online account, ensuring that updates made on any platform are reflected seamlessly. Additionally, Interactive Brokers offers an impressive suite of 97 technical studies for charting within its app, compared to Spreadex, which lacks this feature.
Both brokers enable users to draw trendlines on charts and view multiple time frames such as daily, weekly, or intraday. However, neither app automatically saves chart drawings. When it comes to user ratings, Interactive Brokers receives an excellent five-star rating for its mobile trading app, coming in 4th place among 63 brokers in the Mobile Trading Apps category according to ForexBrokers.com. Spreadex, on the other hand, holds a solid four-star rating but ranks 46th, indicating a slight overall preference for Interactive Brokers' mobile experience.
| Feature |
Interactive Brokers
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 97 | N/A |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, both Interactive Brokers and Spreadex provide daily market commentary and deliver forex news from renowned sources like Bloomberg and Reuters. However, Interactive Brokers excels in offering a wider array of research tools, including those from Trading Central and Acuity Trading, enhancing their appeal to in-depth analysts. While Spreadex provides technical analysis tools from Autochartist, it lacks some advanced resources like Trading Central tools and Acuity Trading insights, which are accessible through Interactive Brokers.
Interactive Brokers enhances its service with additional benefits, such as sentiment-based trading tools and comprehensive research from TipRanks. Spreadex also offers sentiment-based trading tools but does not integrate TipRanks offerings. Both platforms feature economic calendars to keep traders informed of global news events. With these differences, it's not surprising that Interactive Brokers scores a perfect 5-star research rating and ranks 3rd among 63 brokers, while Spreadex earns a 4-star rating and is ranked 31st by ForexBrokers.com.
| Feature |
Interactive Brokers
|
Spreadex
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| 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 Spreadex both provide a solid foundation with a variety of materials that can help new traders understand forex and CFDs. Both platforms offer more than ten educational pieces, including articles and videos, specifically focused on these topics. For those who prefer learning through visual means, both Interactive Brokers and Spreadex offer more than ten beginner-friendly videos to guide novice traders through the basics. Additionally, each platform provides an investor dictionary with over 50 investing terms, making it easier for beginners to familiarize themselves with key concepts.
Interactive Brokers significantly outshines Spreadex in several key areas of educational support. They provide online educational webinars regularly every month, a feature that Spreadex lacks. These webinars are even archived for future reference, adding flexibility for users who want to learn at their own pace. While both brokers support beginners, Interactive Brokers also caters to experienced traders by providing advanced educational videos, an area where Spreadex falls short. This extensive range of educational offerings has earned Interactive Brokers a 5-star rating and the number 3 spot in the education category among 63 brokers, whereas Spreadex holds a 4-star rating and is ranked at number 45.
| Feature |
Interactive Brokers
|
Spreadex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| 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 Spreadex. Interactive Brokers finished with an overall rank of #2, while Spreadex finished with an overall rank of #39.
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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Spreadex
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| Trust Score | 99 | 71 |
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Interactive Brokers allows for the purchase of actual cryptocurrencies and also offers cryptocurrency derivatives, whereas Spreadex solely provides options for trading cryptocurrency derivatives without the capability to buy the actual cryptocurrencies.
Interactive Brokers supports ACH, SEPA, and bank wire transfers for depositing or withdrawing funds, but not PayPal, Skrill, Visa, or Mastercard, while Spreadex offers bank wire transfers and accepts Visa or Mastercard transactions, but doesn't support ACH, SEPA, PayPal, or Skrill.
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 | Spreadex | |
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| Trust Score | 99 | 71 | |
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| Review | Interactive Brokers Review | Spreadex Review |
| Broker Screenshots | Interactive Brokers | Spreadex | |
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| Regulation | Interactive Brokers | Spreadex | |
|---|---|---|---|
| Trust Score | 99 | 71 | |
| Year Founded | 1977 | 1999 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 9 | 1 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | Spreadex | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | No |
| Tier-2 Licenses (Trusted) | Interactive Brokers | Spreadex | |
|---|---|---|---|
| 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 | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 10000 | |
| Forex Pairs (Total) | 90 | 52 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | No | |
| 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 | Spreadex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 0.81 | |
| All-in Cost EUR/USD - Active | 0.59 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Interactive Brokers | Spreadex | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | Spreadex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 8 | |
| Charting - Indicators / Studies (Total) | 155 | 58 | |
| Charting - Drawing Tools (Total) | 85 | 11 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | Spreadex | |
|---|---|---|---|
| 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 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | Spreadex | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | Spreadex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Interactive Brokers | Spreadex | |
|---|---|---|---|
| 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 | Spreadex Review |
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| Trust Score | 99 | 71 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | Spreadex Review |
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