Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs FOREX.com, 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 and FOREX.com are two well-established online brokers, both publicly traded and founded in 1977 and 1999, respectively. Neither company operates as a bank, which makes understanding their regulatory standings essential for potential investors. Interactive Brokers and FOREX.com each boast a stellar Trust Score of 99 out of 99 according to ForexBrokers.com, cementing their status as highly trusted brokers.
Both companies hold significant regulatory credentials, with Interactive Brokers possessing 9 Tier-1 licenses, recognized as highly trustworthy, alongside 2 Tier-2 licenses. FOREX.com holds 7 Tier-1 licenses and 1 Tier-2 license. These licenses underscore their commitment to maintaining high regulatory standards, providing users with peace of mind when choosing either for their trading needs.
| Feature |
Interactive Brokers
|
FOREX.com
|
|---|---|---|
| Year Founded | 1977 | 1999 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | No |
| Tier-1 Licenses | 9 | 7 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to forex trading, Interactive Brokers and FOREX.com offer distinct approaches to commissions and fees. Interactive Brokers shines with competitive pricing, offering an impressive average spread of 0.59 pips for EUR/USD in Q3 2024. Commissions start at 0.2 basis points of the trade value, with a minimum charge of $2 per order. For exceptionally active traders, these costs can drop substantially. Notably, they aggregate pricing from multiple interbank dealers, enabling clear commission-based trading without marked-up spreads. Overall, Interactive Brokers earns a five-star rating and holds the second spot out of 62 brokers for commissions and fees, as ranked by ForexBrokers.com.
On the other hand, FOREX.com provides varied account types with transparent execution statistics. While their Standard account comes with higher average spreads of 1.4 pips on the EUR/USD in the U.S., the RAW account, which replaced the discontinued DMA account, offers lower spreads of 0.13 pips but includes a commission. The RAW account is designed for serious traders, offering active trader discounts and competitive spreads. For very high volume traders exceeding $2 billion monthly, effective spreads become quite favorable. FOREX.com is rated 4.5 stars for commissions and fees and ranks 13th out of 62 brokers according to ForexBrokers.com.
To sum up, Interactive Brokers and FOREX.com cater to different trading needs. Interactive Brokers is well-suited for cost-conscious traders looking for lower commissions and transparency, while FOREX.com appeals to those who value varied account offerings and market-maker execution despite slightly higher costs. Both brokers provide comprehensive platforms but differ significantly in pricing strategies, making it crucial for traders to align their choice with their trading volumes and execution preferences.
| Feature |
Interactive Brokers
|
FOREX.com
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 0.59 | 1.4 |
| All-in Cost EUR/USD - Active | 0.59 | 0.9 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing Interactive Brokers and FOREX.com, both platforms allow users to trade foreign currencies through CFDs or spot contracts. Interactive Brokers excels with an impressive selection of 8,500 tradeable symbols, including 90 forex pairs, while offering exchange-traded securities on both U.S. and international markets, such as popular stocks like Apple and Vodafone. Additionally, Interactive Brokers enables investors to purchase actual cryptocurrencies, further broadening its investment portfolio.
On the other hand, FOREX.com provides access to 5,500 tradeable symbols and 91 forex pairs, catering primarily to the forex trading community. Although FOREX.com lacks access to U.S. and international exchange-traded securities and does not offer direct cryptocurrency purchases, it does provide cryptocurrency derivatives for those looking for exposure without owning the assets directly. Despite these limitations, both brokers receive high marks, with Interactive Brokers crowned as the top choice for range of investments, while FOREX.com holds a respectable seventh place in the rankings.
| Feature |
Interactive Brokers
|
FOREX.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 5500 |
| Forex Pairs (Total) | 90 | 91 |
| 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.
Interactive Brokers and FOREX.com both provide excellent trading platforms that cater to a wide array of traders, each offering simulated trading through free virtual demo accounts, allowing newcomers to practice without financial risk. Both brokers have developed proprietary platforms and support Windows-based desktop downloads and browser-based trading, making their platforms accessible to different user preferences. However, when it comes to trading tools, while both shine with five-star ratings for their platforms, Interactive Brokers edges out as the preferred choice due to its comprehensive offerings, with 659 watch list columns compared to FOREX.com's 20, and superior charting capabilities with 85 drawing tools versus FOREX.com's 239.
One significant differentiator is the support for MetaTrader platforms; FOREX.com supports both MT4 and MT5, providing traders with proven, industry-standard options for trading, while Interactive Brokers does not offer these platforms. In terms of additional tools like copy trading and platforms like DupliTrade and ZuluTrade, neither broker provides these services, encouraging traders to rely on their proprietary tools and charting capabilities. As such, FOREX.com ranks 7th compared to Interactive Brokers' 3rd place in the Trading Platforms and Tools category, as per ForexBrokers.com, mainly due to Interactive Brokers' extensive watch list customization and broad charting options. Both platforms excel in allowing direct trading from stock charts, which adds a layer of convenience for active traders.
| Feature |
Interactive Brokers
|
FOREX.com
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 88 |
| Charting - Drawing Tools (Total) | 85 | 239 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 20 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Interactive Brokers and FOREX.com offer comprehensive mobile trading apps available for iPhone and Android. Each app provides stock or forex price alerts and allows watchlists to sync seamlessly with users' online accounts. Users can draw trendlines and view various time frames on stock or forex charts with both apps. While Interactive Brokers offers a slightly greater number of technical studies for chart analysis at 97 compared to FOREX.com's 88, FOREX.com gains an edge by automatically saving chart drawings, a feature not available with Interactive Brokers. Both apps also allow users to create watchlists with real-time quotes, catering to the needs of active traders on the go.
In terms of overall user satisfaction and features, both apps have received high ratings, with Interactive Brokers and FOREX.com each earning five-star ratings for their mobile trading apps. Despite these similarities, FOREX.com nudges slightly ahead in rankings, securing the #3 spot out of 62 brokers evaluated by ForexBrokers.com, while Interactive Brokers is ranked #4. Whether prioritizing the breadth of technical studies or the automatic saving of chart annotations, users can find substantial value in both mobile trading platforms.
| Feature |
Interactive Brokers
|
FOREX.com
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 97 | 88 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of Interactive Brokers and FOREX.com, both brokers provide valuable resources, including daily market commentary and forex news from renowned sources like Bloomberg and Reuters. They also offer powerful tools from Trading Central, allowing traders to leverage technical analysis. Additionally, both platforms feature sentiment-based trading tools that help in understanding the balance of long and short positions across currency pairs, and they include an economic calendar to stay informed about global events that might impact trading.
However, there are distinct advantages with Interactive Brokers that elevate its market research capabilities. Unlike FOREX.com, Interactive Brokers provides research from TipRanks, offering traders an extra layer of insight with expert ratings and analysis. Furthermore, Interactive Brokers incorporates tools from Acuity Trading, enhancing its research suite further. These additional resources contribute to Interactive Brokers earning a higher rating of 5 stars and a top ranking at #3 for Research according to ForexBrokers.com, compared to FOREX.com’s 4.5 stars and #9 ranking.
| Feature |
Interactive Brokers
|
FOREX.com
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| 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.
Interactive Brokers and FOREX.com both stand out for their educational resources aimed at newcomers to forex and CFD trading. Each platform offers a wealth of articles, videos, and archived webinars, providing over ten educational pieces with a focus on forex or CFDs. Additionally, both brokers host regular online educational webinars, at least one per month, which helps beginners and seasoned traders enhance their knowledge continuously. Users of both platforms benefit from accessible archives of these webinars, enabling them to revisit sessions at their convenience.
When it comes to video content, both platforms offer extensive libraries featuring over ten videos targeted at novices, as well as advanced content for experienced traders. Furthermore, they provide investor dictionaries packed with definitions for over 50 investing terms, making complex jargon more accessible. Interactive Brokers is rated five stars for its educational offerings, ranking third out of 62 brokers according to ForexBrokers.com, whereas FOREX.com earns a solid 4.5-star rating, ranking fourth. This indicates a slight edge for Interactive Brokers in educational resources, though both are excellent choices for traders seeking to increase their knowledge base.
| Feature |
Interactive Brokers
|
FOREX.com
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 FOREX.com. Interactive Brokers finished with an overall rank of #2, while FOREX.com finished with an overall rank of #5.
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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FOREX.com
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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While both Interactive Brokers and FOREX.com allow trading of cryptocurrency derivatives, only Interactive Brokers provides the option to purchase actual delivered cryptocurrency, giving it a significant advantage for investors looking to own the physical asset.
Interactive Brokers and FOREX.com both support ACH and SEPA transfers plus bank wires for fund deposits and withdrawals, but while FOREX.com also offers additional options such as PayPal and Visa or Mastercard, Interactive Brokers does not provide these services.
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 | FOREX.com | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | FOREX.com Review |
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| Regulation | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1977 | 1999 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 7 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | Yes | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 5500 | |
| Forex Pairs (Total) | 90 | 91 | |
| 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 | FOREX.com | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 1.4 | |
| All-in Cost EUR/USD - Active | 0.59 | 0.9 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 20 | |
| Charting - Indicators / Studies (Total) | 155 | 88 | |
| Charting - Drawing Tools (Total) | 85 | 239 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 97 | 88 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Interactive Brokers | FOREX.com | |
|---|---|---|---|
| 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 | FOREX.com Review |
| Overall | Interactive Brokers | FOREX.com | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | FOREX.com Review |
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