Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs Xtrade, 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.
Founded in 1977, Interactive Brokers stands out as a prominent choice for online trading with a Trust Score of 99 as rated by ForexBrokers.com. This high score reflects its solid reputation in the financial industry, bolstered by its status as publicly traded and holding nine Tier-1 licenses, which are recognized for their high level of trust. Additionally, Interactive Brokers has two Tier-2 licenses, adding another layer of credibility to its global operations. Although not a bank, the firm's extensive regulatory credentials make it a reliable platform for traders seeking a well-regarded broker.
In contrast, Xtrade, established in 2003, has a Trust Score of 74, indicating an average level of risk according to ForexBrokers.com. Unlike Interactive Brokers, Xtrade is not publicly traded and holds only one Tier-1 and one Tier-2 license. While Xtrade offers a viable platform for online trading, its lower trust rating and licensing count may present concerns for some traders comparing it to more established competitors. Both brokers are not banks, but Interactive Brokers' robust regulatory backing gives it an edge in instilling greater confidence among users.
| Feature |
Interactive Brokers
|
Xtrade
|
|---|---|---|
| Year Founded | 1977 | 2003 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 1 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Interactive Brokers stands out for its competitive pricing in forex trading, though exact comparisons can be challenging due to the lack of published average spreads for forex. During Q3 2024, it was noted that the average spread for EUR/USD transactions at Interactive Brokers was 0.19 pips, making the effective all-in spread 0.59 pips after including commissions. The commission rates per trade start at 0.00002 of the U.S. dollar trade value, with a minimum fee of $2 per order, potentially lowering to 0.08 basis points for exceptionally active traders. This pricing structure earns Interactive Brokers a commendable 5 out of 5 stars and ranks it #2 out of 63 brokers in the Commissions and Fees category by ForexBrokers.com.
For traders dealing with smaller transactions, Interactive Brokers enforces a minimum commission which necessitates at least $2 per side, meaning proportionally higher charges for trades under 100,000 currency units. In terms of forex execution, Interactive Brokers sources prices from 17 large interbank forex dealers and charges commissions per trade ranging from $16 to $40 per million round turn, depending on the volume. Discounts are available for high-volume traders, with the minimum order charge potentially dropping to $1 for those trading over $5 billion in forex per month. These rates are competitive when compared to similar commission-based brokers with agency execution.
In contrast, Xtrade does not make average spread data available, which may hinder transparency for traders seeking to understand their cost structures. As a result, Xtrade's rating reflects its less favorable fee structure, earning it 2.5 out of 5 stars and placing it at the bottom of the list, #63 out of 63 brokers, according to ForexBrokers.com. This comparison underscores Interactive Brokers' more advantageous pricing for those looking to minimize trading costs in the forex market.
| Feature |
Interactive Brokers
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $0 | $250 |
| Average Spread EUR/USD - Standard | 0.59 | N/A |
| 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 | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments offered by Interactive Brokers and Xtrade, Interactive Brokers clearly stands out as a more comprehensive choice for traders. Interactive Brokers provides access to 8,500 tradeable symbols, vastly outnumbering Xtrade’s 482 symbols. Both platforms offer forex trading as CFDs, but Interactive Brokers offers more variety with 90 forex pairs compared to Xtrade's 56. Furthermore, Interactive Brokers allows trading in exchange-traded securities on both U.S. and international exchanges, permitting clients to buy shares like Apple and Vodafone, whereas Xtrade lacks this capability. In the realm of cryptocurrencies, Interactive Brokers enables direct purchases of actual cryptocurrencies as well as derivatives, while Xtrade only offers cryptocurrency derivatives.
In terms of rankings, Interactive Brokers holds the top position for Range of Investments as rated by ForexBrokers.com, earning a perfect 5-star rating. Xtrade, on the other hand, scores a modest 3.5 stars and is ranked 49th out of 63 brokers. Neither platform supports copy trading, but the overall offering from Interactive Brokers is more diverse and appealing, making it a preferred choice for both seasoned and new investors looking for a wide variety of investment options.
| Feature |
Interactive Brokers
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 482 |
| Forex Pairs (Total) | 90 | 56 |
| 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 Interactive Brokers and Xtrade for their trading platforms and tools, both offer simulated trading with free virtual demo accounts and have developed their proprietary platforms in-house. However, Interactive Brokers stands out with an option for a Windows-based desktop download platform, whereas Xtrade does not provide this feature. Both brokers offer web-based trading platforms, but they do not support popular systems like MetaTrader 4 and 5 or copy trading services such as DupliTrade and ZuluTrade. Despite these similarities, Interactive Brokers offers significantly more drawing tools, with 85 options compared to Xtrade's 100, and highly detailed watch lists featuring 659 fields compared to Xtrade’s 9.
Interactive Brokers also allows for trading directly from stock charts and receives a distinguished 5-star rating for its trading platforms and tools, placing it 3rd out of 63 brokers ranked by ForexBrokers.com. In contrast, Xtrade, with fewer features and a limited watch list, is rated at 3.5 stars and ranks 58th in the same category. For traders seeking a comprehensive suite of platform features and tools, Interactive Brokers appears to be the more capable choice, offering extensive customization and charting options. Xtrade, while serviceable with basic offerings, may not satisfy those in need of more advanced trading capabilities.
| Feature |
Interactive Brokers
|
Xtrade
|
|---|---|---|
| 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 | N/A |
| Charting - Drawing Tools (Total) | 85 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Interactive Brokers and Xtrade both provide mobile apps for iPhone and Android users, but they cater to traders in different ways. Interactive Brokers offers more advanced features, including stock or forex price alerts and watchlist symbol syncing with your online account, which Xtrade doesn’t provide. For traders focused on detailed chart analysis, Interactive Brokers stands out with 97 technical studies, while Xtrade doesn't specify any. Furthermore, Interactive Brokers users can draw trendlines and view multiple time frames within its app, allowing for a comprehensive trading experience on the go, which Xtrade lacks.
When it comes to creating watchlists with real-time quotes, Interactive Brokers again takes the lead, while Xtrade falls short in this area. Despite both apps not offering auto-save for chart drawings, the extensive features of the Interactive Brokers app have earned it a 5-star rating for Mobile Trading Apps and a high rank of #4 out of 63 brokers on ForexBrokers.com. Comparatively, Xtrade, with a 4-star rating and a rank of #53, might suit traders looking for a more straightforward experience, though with fewer advanced tools.
| Feature |
Interactive Brokers
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 97 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of Interactive Brokers and Xtrade, some key differences emerge. Both platforms provide daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters, which ensures that users remain well-informed about global market trends. However, Interactive Brokers stands out with its broader suite of tools and resources. It provides access to Trading Central's technical analytics, sentiment-based trading tools that reveal positioning details across currency pairs, and research insights from TipRanks and Acuity Trading's Signal Centre. These advanced features and partnerships give Interactive Brokers a significant edge in analytical depth and research insights.
While both brokers offer a handy economic calendar to users, Interactive Brokers excels in terms of total research resources, earning a 5-star rating for research compared to Xtrade's 3.5 stars. Furthermore, the distinction in research capabilities is highlighted by their rankings: Interactive Brokers is ranked third out of 63 brokers in the Research category by ForexBrokers.com, while Xtrade is further behind, sitting at the 52nd position. This comparison underscores that Interactive Brokers is better suited for traders who value comprehensive research tools and market insight.
| Feature |
Interactive Brokers
|
Xtrade
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| 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 stands out compared to Xtrade. Interactive Brokers offers comprehensive educational materials, including a significant collection of over ten educational pieces dedicated to forex and CFDs. Additionally, it provides clients with the opportunity to attend live educational webinars every month and access a searchable library of previously recorded sessions, all geared towards enhancing the learning experience. Beginners can also benefit from more than ten educational videos focused specifically on trading topics, offering a solid foundation for new traders. The broker is also notable for its collection of advanced educational videos designed for experienced traders, allowing for continued learning and growth.
On the other hand, while Xtrade also offers a range of forex and CFDs educational content, its resources fall short in several areas compared to Interactive Brokers. It does not provide monthly online webinars or a searchable archive of recorded webinars, limiting the options for interactive learning. Furthermore, Xtrade lacks a comprehensive selection of beginner and advanced educational videos. Both platforms offer investor dictionaries containing definitions of over 50 investing terms, ensuring clients have access to essential financial terminology. Overall, Interactive Brokers receives higher ratings and a better ranking for its educational offerings, making it a more attractive option for beginners seeking extensive learning support.
| Feature |
Interactive Brokers
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| 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 Xtrade. Interactive Brokers finished with an overall rank of #2, while Xtrade finished with an overall rank of #60.
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
|
Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 74 |
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Interactive Brokers offers the option to buy actual delivered cryptocurrency and cryptocurrency derivatives, whereas Xtrade provides only cryptocurrency derivatives without the capability of purchasing actual cryptocurrencies.
Interactive Brokers and Xtrade differ in their account fund transfer options, with Interactive Brokers supporting ACH and SEPA transfers and bank wires, but not accepting PayPal, Skrill, Visa, or Mastercard, while Xtrade accepts Skrill, Visa, and Mastercard, alongside bank wires, but does not support ACH, SEPA, or PayPal transfers.
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 | Xtrade | |
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| Trust Score | 99 | 74 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | Xtrade Review |
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| Regulation | Interactive Brokers | Xtrade | |
|---|---|---|---|
| Trust Score | 99 | 74 | |
| Year Founded | 1977 | 2003 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 1 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | Xtrade | |
|---|---|---|---|
| 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 | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 482 | |
| Forex Pairs (Total) | 90 | 56 | |
| 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 | Xtrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | N/A | |
| 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 | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $250 | |
| 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 | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 659 | 9 | |
| Charting - Indicators / Studies (Total) | 155 | N/A | |
| Charting - Drawing Tools (Total) | 85 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Interactive Brokers | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 97 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Interactive Brokers | Xtrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Interactive Brokers | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
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| Trust Score | 99 | 74 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | Xtrade Review |
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