Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs FXOpen, 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 FXOpen both provide online brokerage services, but they differ significantly in their history, regulatory credentials, and public presence. Founded in 1977, Interactive Brokers is a well-established firm that is publicly traded, while FXOpen, founded in 2003, remains a privately-held company. Although neither is a bank, the regulatory standing of each broker underscores their distinct levels of trustworthiness.
Interactive Brokers excels with a ForexBrokers.com Trust Score of 99 and holds nine Tier-1 licenses along with two Tier-2 licenses, reflecting a high degree of regulatory compliance. This positions them as highly trusted. In contrast, FXOpen holds a ForexBrokers.com Trust Score of 76, placing them in the average risk category with two Tier-1 licenses and no Tier-2 licenses. This comparison highlights Interactive Brokers' superior regulatory standing and public trust over FXOpen.
| Feature |
Interactive Brokers
|
FXOpen
|
|---|---|---|
| Year Founded | 1977 | 2003 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
Interactive Brokers and FXOpen offer different approaches to commissions and fees, especially for forex trading. Interactive Brokers is known for its competitive pricing, although they don’t publish average spreads for forex. During Q3 2024, the EUR/USD spread was around 0.59 pips including commission. Their pricing model involves commissional fees starting from 0.00002 of the U.S. dollar trade value, with a minimum of $2 per order ($4 per round turn). This can go lower for highly active traders, making it a cost-efficient choice for large-scale trading. Interactive Brokers combines prices from major interbank forex dealers, providing solid execution methods without spread markups. This broker earns a 5-star rating for commissions and fees and is ranked #2 out of 62 brokers by ForexBrokers.com.
FXOpen does not provide average spread data, which can make direct comparisons challenging. However, the broker has established a solid reputation, offering various account types that cater to different trading needs. Their fee structure, though less transparent in terms of specific numeric spreads, includes options that might appeal to traders seeking straightforward pricing. FXOpen receives a 4-star rating for commissions and fees. They are ranked #45 out of 62 brokers according to ForexBrokers.com, indicating their services may not be as competitive in terms of pricing when compared to industry leaders like Interactive Brokers.
To summarize, Interactive Brokers offers a more quantifiable and possibly cost-effective solution for frequent and large-volume traders with competitive commissions and a high ranking in the industry. On the other hand, FXOpen presents an alternative with a solid star rating but less detailed data on spread costs, which may appeal to traders with different priorities or preferences.
| Feature |
Interactive Brokers
|
FXOpen
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| 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.
When comparing the range of investments offered by Interactive Brokers and FXOpen, clear distinctions arise in the breadth of tradeable options available. Interactive Brokers stands out with a vast array of 8,500 tradeable symbols, including 90 forex pairs, offering both CFD and spot contracts for forex trading. They also provide opportunities to invest in exchange-traded securities within both U.S. and international markets, allowing clients to buy shares like Apple and Vodafone directly. Furthermore, Interactive Brokers permits clients to buy actual cryptocurrencies in addition to cryptocurrency derivatives. This comprehensive selection earned Interactive Brokers a 5-star rating and the top spot in the Range of Investments category according to ForexBrokers.com.
On the other hand, FXOpen offers a more limited selection with 87 tradeable symbols, including 25 forex pairs available as CFDs and spot contracts. Unlike Interactive Brokers, FXOpen does not offer access to exchange-traded securities on U.S. or international markets, nor do they offer direct purchases of cryptocurrencies, though they do provide cryptocurrency derivatives. One advantage of FXOpen is their support for copy trading—something Interactive Brokers does not offer. This more restricted investment range has resulted in a 3-star rating and a ranking of 61 out of 62 brokers for Range of Investments by ForexBrokers.com, highlighting a significant gap in the investment opportunities provided by these two platforms.
| Feature |
Interactive Brokers
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 87 |
| Forex Pairs (Total) | 90 | 25 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| 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). |
Dive deeper: Best Copy Trading Platforms.
Interactive Brokers and FXOpen both offer simulated trading accounts, allowing users to practice trading without financial risk. However, when it comes to proprietary platforms, Interactive Brokers has developed its own in-house platform, which gives it an edge in customization and integration. Both brokers provide Windows-based desktop and web-based trading platforms, providing flexibility in access. While FXOpen supports popular trading platforms like MetaTrader 4 and 5, Interactive Brokers does not. This makes FXOpen a preferred choice for those who rely on these platforms. Furthermore, FXOpen stands out in offering copy trading and ZuluTrade, which can be appealing to traders interested in automated trading and strategy replication, whereas Interactive Brokers does not provide these features.
Interactive Brokers excels in the number of trading tools available, offering an impressive 85 drawing tools for charting compared to FXOpen's 15. It also boasts a wide range of 659 fields in watch lists, a significant leap from FXOpen's 7. Both brokers allow users to trade directly from stock charts, ensuring a smooth trading experience. Overall, Interactive Brokers is highly rated with five stars in trading platforms and tools and ranked third by ForexBrokers.com among 62 brokers. In comparison, FXOpen is rated four stars, securing the 53rd rank in the same category. This highlights Interactive Brokers as a leader for traders who prioritize advanced tools and customization options.
| Feature |
Interactive Brokers
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| 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 | Yes |
| 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.
When it comes to mobile trading apps, both Interactive Brokers and FXOpen offer iPhone and Android support. Both platforms also provide stock or forex price alerts and allow users to create watchlists with real-time quotes. However, one key difference is Interactive Brokers' ability to sync watchlist symbols with a client's online account, a feature that FXOpen lacks. This means changes to watchlists can seamlessly sync between the mobile app and the online account with Interactive Brokers, providing more convenience for traders.
In terms of charting features, Interactive Brokers offers an impressive 97 technical studies compared to FXOpen's 30. Both platforms allow users to draw trendlines and view different time frames on charts, but neither app auto saves drawings. These differences in features contribute to Interactive Brokers receiving a 5-star rating for its mobile trading app, ranking #4 out of 62 brokers according to ForexBrokers.com. In contrast, FXOpen is rated 4 stars and ranks at #54 in the same category, making Interactive Brokers a top choice for mobile trading enthusiasts looking for a richer feature set and higher industry recognition.
| Feature |
Interactive Brokers
|
FXOpen
|
|---|---|---|
| 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 it comes to market research, both Interactive Brokers and FXOpen provide daily market commentary and access to essential forex news from top-tier sources like Bloomberg and Reuters. However, Interactive Brokers stands out with its superior offerings. It is equipped with Trading Central's technical analysis tools, sentiment-based trading tools to gauge market positions, and comprehensive market research from firms like TipRanks and Acuity Trading. In contrast, FXOpen lacks these advanced tools and resources.
Furthermore, both brokers offer economic calendars for tracking global events, but Interactive Brokers excels in overall research capabilities, earning a perfect 5-star rating for Research and positioning as the third-best out of 62 brokers ranked by ForexBrokers.com. Meanwhile, FXOpen, with its more limited research tools, garners three stars and ranks last among the surveyed brokers. For traders focused on in-depth market insights and analysis, Interactive Brokers clearly emerges as the preferred choice over FXOpen.
| Feature |
Interactive Brokers
|
FXOpen
|
|---|---|---|
| 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.
Interactive Brokers shines as a valuable resource for beginners seeking to learn about forex and CFDs. The platform not only provides more than ten educational materials, such as articles, videos, and webinars, but also offers monthly online webinars and an archive that users can search for past sessions. With at least ten videos geared specifically towards beginners, and another set aimed at advanced traders, Interactive Brokers ensures that users of all experience levels have access to comprehensive learning materials. Additionally, Interactive Brokers includes an investor dictionary with over 50 investing terms, providing a thorough foundation for those new to trading.
In contrast, FXOpen falls short in terms of educational offerings for beginners in forex and CFDs. The broker does not meet the threshold of providing a minimum of ten educational pieces in its library, nor does it host monthly webinars for ongoing learning. Moreover, FXOpen lacks a searchable archive of recorded webinars and does not provide beginner-specific or advanced educational videos. Despite offering an investor dictionary similar to Interactive Brokers, FXOpen's educational resources are relatively limited, earning it a three-star rating and ranking it at #58 out of 62 brokers for education by ForexBrokers.com, compared to Interactive Brokers' five-star rating and #3 rank.
| Feature |
Interactive Brokers
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| 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 62 of the best forex brokers, our research and account testing finds that Interactive Brokers is better than FXOpen. Interactive Brokers finished with an overall rank of #2, while FXOpen finished with an overall rank of #54.
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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FXOpen
|
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| Trust Score | 99 | 76 |
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While Interactive Brokers and FXOpen both provide options for trading cryptocurrency derivatives, only Interactive Brokers offers the capability to purchase actual delivered cryptocurrencies, making it a more comprehensive platform for those interested in owning the cryptocurrency itself.
Interactive Brokers supports ACH, SEPA, and bank wire transfers for depositing or withdrawing account funds, whereas FXOpen does not offer ACH or SEPA but provides funding via bank wires, Skrill, Visa, and Mastercard; neither broker supports 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 | FXOpen | |
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| Trust Score | 99 | 76 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review |
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| Regulation | Interactive Brokers | FXOpen | |
|---|---|---|---|
| Trust Score | 99 | 76 | |
| 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 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | FXOpen | |
|---|---|---|---|
| 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 | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 87 | |
| Forex Pairs (Total) | 90 | 25 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| 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). |
| Cost | Interactive Brokers | FXOpen | |
|---|---|---|---|
| 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 | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| 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 | FXOpen | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| 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 | Yes |
| Trading Tools | Interactive Brokers | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| 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 | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
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| Trust Score | 99 | 76 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review |
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