Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs Alpari, 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.
When it comes to choosing an online broker, understanding their trust levels can be crucial. Interactive Brokers, established in 1977, stands out as a highly trusted platform with a ForexBrokers.com Trust Score of 99. It holds an impressive nine Tier-1 licenses, the highest level of trust. The company is also publicly traded, which adds another layer of transparency for its users. Although not a bank itself, Interactive Brokers still provides a secure environment for online trading.
In contrast, Alpari, founded in 1998, holds a more modest position on the trust scale with a ForexBrokers.com Trust Score of 68, categorizing it as high risk. Unlike Interactive Brokers, Alpari does not hold any Tier-1 or Tier-2 licenses, and is not publicly traded, aspects that may impact its transparency and perceived reliability. Both Interactive Brokers and Alpari operate as non-banking financial services providers, yet the difference in their creditability speaks volumes when evaluating which broker to trust with your investments.
| Feature |
Interactive Brokers
|
Alpari
|
|---|---|---|
| Year Founded | 1977 | 1998 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 0 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing commissions and fees between Interactive Brokers and Alpari, Interactive Brokers offers a more competitive pricing structure, particularly for forex trading, although specifics can vary based on trading volume and account type. Interactive Brokers provides non-marked-up spreads with commission-based pricing that can be as low as 0.19 pips for popular pairs like EUR/USD, with an effective all-in spread of around 0.59 pips after commission. Commissions per side start at 0.2 basis points of the trade value in U.S. dollars, with discounts available for active traders, bringing the cost down further if certain volume thresholds are met.
Alpari, on the other hand, does not provide average spread data, making it difficult to directly compare with Interactive Brokers' transparent pricing model. Alpari’s rating, however, reflects a solid but less competitive structure when compared to Interactive Brokers in terms of overall value for forex trading. Without specifics, Alpari's fees appear less transparently structured, potentially resulting in different costs based on market conditions and selected trading pairs.
In terms of ratings, Interactive Brokers shines with a 5-star rating for commissions and fees, ranking 2nd out of 62 brokers reviewed by ForexBrokers.com, indicating its strong value offering. Alpari garners a respectable 4-star rating but falls to 41st place in the same ranking, demonstrating that while it provides decent service, it may not be as cost-efficient as Interactive Brokers for forex traders seeking the best fee structures.
| Feature |
Interactive Brokers
|
Alpari
|
|---|---|---|
| Minimum Deposit | $0 | $20 |
| 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 | 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 Alpari both offer forex trading through CFDs or spot contracts, making them accessible to those interested in foreign currency exchanges. However, there is a stark difference in their overall investment offerings. Interactive Brokers provides access to an impressive 8,500 tradeable symbols, including 90 forex pairs. This extensive range extends to exchange-traded securities on both U.S. and international exchanges, allowing clients to invest in companies like Apple (NASDAQ: AAPL) and Vodafone (VOD-GB: London Stock Exchange). Additionally, Interactive Brokers stands out by offering both actual cryptocurrencies and their derivatives, adding another layer of diversity for investors.
On the other hand, Alpari's investment selection is considerably more limited, offering just 105 tradeable symbols and 46 forex pairs. Although clients can trade on international exchanges, they miss out on securities from U.S. markets. Alpari does provide copy trading, a feature not available with Interactive Brokers, which can be appealing for those looking to mirror experienced traders. However, Alpari only supports cryptocurrency derivatives rather than actual cryptocurrencies. For these reasons, Interactive Brokers receives a 5-star rating for its range of investments and holds the #1 rank among 62 brokers, while Alpari is rated 3 stars and is ranked last at #62.
| Feature |
Interactive Brokers
|
Alpari
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 105 |
| Forex Pairs (Total) | 90 | 46 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| 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.
Interactive Brokers and Alpari offer an array of trading platforms and tools for online trading enthusiasts. Both brokers provide simulated trading through free virtual demo accounts, ensuring newcomers can practice risk-free. They have developed their proprietary platforms and offer Windows-based desktop and web-based trading options to suit various preferences. However, while Alpari supports copy trading and is compatible with both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), Interactive Brokers does not cater to these features. For traders who prioritize automated strategies and social trading aspects, Alpari offers more flexibility in this regard.
When it comes to charting tools, Interactive Brokers stands out with 85 drawing tools compared to Alpari's 15, giving users a broader scope for technical analysis. Both brokers allow trading directly from stock charts, which can enhance trading efficiency. Interactive Brokers further impresses with 659 watch list columns, far surpassing Alpari's 7. These comprehensive features contribute to Interactive Brokers earning a 5-star rating, placing it 3rd out of 62 brokers by ForexBrokers.com for trading platforms and tools. Alpari, while solid with a 4-star rating, is ranked 55th, highlighting a gap in offerings, especially for more advanced trading needs.
| Feature |
Interactive Brokers
|
Alpari
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| 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.
Both Interactive Brokers and Alpari offer mobile trading apps for iPhone and Android devices, enabling users to trade on the go. While both platforms provide essential features like stock or forex price alerts, watchlists with real-time quotes, and the ability to draw trendlines on charts, there are notable differences in their offerings. Interactive Brokers allows watchlist symbol syncing between the mobile app and the client’s online account, ensuring seamless updates across platforms. Unfortunately, Alpari lacks this feature, which might limit flexibility for traders who frequently switch between devices.
When it comes to technical charting tools, Interactive Brokers takes the lead by offering 97 technical studies in its mobile app, significantly more than Alpari’s 30. This extensive range provides a more comprehensive analysis toolkit for users. Despite both apps allowing users to view multiple time frames on charts, neither app auto-saves drawings, which might require users to manually redo their technical analysis. Overall, Interactive Brokers is highly rated with 5 stars and ranks #4 out of 62 brokers according to ForexBrokers.com, making it a favored choice among traders. In contrast, Alpari is rated 4 stars and ranked #56, suggesting room for improvement in its mobile trading app.
| Feature |
Interactive Brokers
|
Alpari
|
|---|---|---|
| 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 | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When evaluating Interactive Brokers and Alpari for market research, Interactive Brokers shines with its extensive offerings. It provides daily market commentary, accessible news from eminent sources like Bloomberg and Reuters, and an array of research tools such as those from Trading Central and Acuity Trading. To further assist traders, Interactive Brokers offers a sentiment-based trading tool and market insights from TipRanks. Additionally, it includes an economic calendar to keep traders updated on global events. Alpari, while also delivering news from top-tier sources and providing an economic calendar, lacks the breadth of tools offered by Interactive Brokers. It does incorporate Autochartist tools but misses out on the sentiment-based tool and research offerings from TipRanks and Acuity Trading.
In terms of ratings and rankings, Interactive Brokers excels with a 5-star rating for research and occupies the third spot among 62 brokers in the ForexBrokers.com research category. Alpari, on the other hand, holds a 3-star rating and ranks much lower, at 57th. These differences highlight Interactive Brokers' comprehensive market research capabilities in comparison to Alpari's more limited offerings, making Interactive Brokers a more appealing choice for traders seeking expansive and reliable market analysis resources.
| Feature |
Interactive Brokers
|
Alpari
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| 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 comparing educational resources for beginners between Interactive Brokers and Alpari, there are some notable differences. Both brokers provide a solid foundation for those interested in forex or CFDs, offering at least 10 educational pieces, including articles, videos, and webinars. They also each offer a glossary with over 50 investing terms to help newcomers understand the jargon. However, Interactive Brokers goes a step further by offering monthly online webinars for clients and an archive of these sessions that can be searched through later. Alpari, on the other hand, lacks these specific online webinar offerings.
In terms of video resources, both brokers cater to beginners with at least 10 introductory videos. But when it comes to advanced trading topics, only Interactive Brokers provides at least 10 in-depth educational videos geared towards seasoned traders. Based on these offerings, Interactive Brokers receives high marks for its educational efforts, earning a 5-star rating and ranking third among 62 brokers according to ForexBrokers.com. Alpari, however, falls short, receiving a 3-star education rating and landing 48th in the same ranking. This makes Interactive Brokers a more comprehensive choice for those seeking thorough online broker education.
| Feature |
Interactive Brokers
|
Alpari
|
|---|---|---|
| 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 62 of the best forex brokers, our research and account testing finds that Interactive Brokers is better than Alpari. Interactive Brokers finished with an overall rank of #2, while Alpari finished with an overall rank of #57.
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
|
Alpari
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 68 |
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Interactive Brokers allows users to buy both actual delivered cryptocurrency and cryptocurrency derivatives, while Alpari only offers the option to trade cryptocurrency derivatives and does not provide access to actual delivered cryptocurrency.
Interactive Brokers stands out by supporting ACH and SEPA transfers alongside bank wires for depositing and withdrawing funds, unlike Alpari, which does not offer these transfer options but instead provides Skrill and Visa/Mastercard services, both brokers do not support PayPal transactions.
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 | Alpari | |
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| Trust Score | 99 | 68 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review |
| Broker Screenshots | Interactive Brokers | Alpari | |
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| Regulation | Interactive Brokers | Alpari | |
|---|---|---|---|
| Trust Score | 99 | 68 | |
| Year Founded | 1977 | 1998 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 9 | 0 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | Alpari | |
|---|---|---|---|
| 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 | No |
| Tier-2 Licenses (Trusted) | Interactive Brokers | Alpari | |
|---|---|---|---|
| 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 | Alpari | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 105 | |
| Forex Pairs (Total) | 90 | 46 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| 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 | Alpari | |
|---|---|---|---|
| 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 | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | Alpari | |
|---|---|---|---|
| Minimum Deposit | $0 | $20 | |
| 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 | Alpari | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | Alpari | |
|---|---|---|---|
| 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 | Alpari | |
|---|---|---|---|
| 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 | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | Alpari | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | Alpari | |
|---|---|---|---|
| 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 | Alpari | |
|---|---|---|---|
| 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 | Alpari | |
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| Trust Score | 99 | 68 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review |
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