After spending seven months and hundreds of hours researching 43 different forex brokers
for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare Interactive Brokers vs Swissquote.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Interactive Brokers's score is 4.00 stars versus Swissquote's 3.50 stars.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. Interactive Brokers alongside Swissquote are regulated in a major hub. Interactive Brokers and Swissquote are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. Interactive Brokers boasts an offering of 85 different currency pairs compared to Swissquote's 78 available pairs.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. Swissquote makes Meta Trader available to clients, while Interactive Brokers does not. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. Interactive Brokers trails Swissquote by 22 total charting tools, with Swissquote offering 31 and Interactive Brokers offering 9. Interactive Brokers offers its clients access to 121 different indicators (for example, volume) while Swissquote has 51 available indicators, a difference of 70.
Overall, Interactive Brokers comes out on top with 4.50 stars over Swissquote's 4.00 stars. And, when it comes to individual category awards, Swissquote posted awards Best in Class - Customer Service in 2018, while Interactive Brokers found itself with none of these.