Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs FXGT.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 FXGT.com offer distinct attributes when it comes to their regulatory credentials and trust. Founded in 1977, Interactive Brokers stands as a well-established entity with a ForexBrokers.com Trust Score of 99, categorizing it as highly trusted. As a publicly traded company, Interactive Brokers is regulated with 9 Tier-1 licenses and 2 Tier-2 licenses, reflecting a high level of global oversight. Meanwhile, FXGT.com, founded in 2019, is a relatively new player in the industry. It holds a Trust Score of 69, which places it in the high-risk category. Unlike Interactive Brokers, FXGT.com is not publicly traded and holds 1 Tier-1 license along with 1 Tier-2 license.
For those evaluating online brokers, Interactive Brokers may appeal to those prioritizing trust and extensive regulatory coverage, given its longer track record and publicly traded status. Meanwhile, FXGT.com may appeal to users who are exploring newer or different trading platforms, though they may need to weigh the broker's regulatory standing and its associated risks. Understanding these factors can play a crucial role for traders in choosing a suitable platform based on their risk tolerance and preferences.
| Feature |
Interactive Brokers
|
FXGT.com
|
|---|---|---|
| Year Founded | 1977 | 2019 |
| 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 | 2 |
Interactive Brokers offers a competitive fee structure, particularly for active forex traders. While specific average spreads for forex are not publicly disclosed, information from Q3 2024 suggests an average spread of 0.19 pips for EUR/USD, with a total effective spread of 0.59 pips when including commissions. Forex commissions are relatively low, starting at 0.00002 (0.2 basis points) of the U.S. dollar trade value, with a $2 minimum per order. For those trading substantial volumes, this rate can drop significantly. The broker aggregates prices from numerous major interbank dealers, opting for a commission-based model rather than spread markups. Interactive Brokers garners 5 stars for commissions and fees, ranking 2nd out of 62 brokers in this category.
FXGT.com does not provide specific average spread data, making a direct comparison with Interactive Brokers challenging. The absence of detailed spread information may limit transparency for potential forex traders assessing cost efficiency. Despite this, FXGT.com secures a 3.5-star rating for commissions and fees, reflecting a satisfactory but less competitive position compared to Interactive Brokers. It ranks 55th out of 62 brokers, indicating room for improvement in its pricing strategy to appeal to cost-conscious traders.
In summary, while both brokers offer forex trading services, Interactive Brokers stands out with its more transparent and competitive commission structure, significant discounts for high-volume trading, and high ranking in the industry. FXGT.com, on the other hand, provides a more basic offering with limited fee transparency, resulting in a lower market ranking. For traders prioritizing low costs and detailed fee information, Interactive Brokers is likely the preferred choice.
| Feature |
Interactive Brokers
|
FXGT.com
|
|---|---|---|
| Minimum Deposit | $0 | $5 |
| 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 | Yes |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Interactive Brokers and FXGT.com both offer a platform for forex trading, allowing users to engage with currency pairs either via CFD or spot contracts. However, when it comes to the variety of investment options available, Interactive Brokers stands out by offering a staggering 8,500 tradeable symbols, including 90 forex pairs. This selection dwarfs the 117 symbols available with FXGT.com, which consists of only 53 forex pairs. Additionally, Interactive Brokers provides access to both U.S. and international exchange-traded securities, enabling users to invest in stocks like Apple and Vodafone. Conversely, FXGT.com does not support trading of exchange-traded securities on either U.S. or international exchanges.
For those interested in cryptocurrencies, Interactive Brokers allows clients to purchase actual cryptocurrencies and derivatives, whereas FXGT.com only offers cryptocurrency derivatives without the option to hold actual coins. However, FXGT.com does cater to traders interested in copy trading, a feature not supported by Interactive Brokers. In terms of investment range ratings, Interactive Brokers earns a top-notch five-star rating and ranks first among 62 brokers according to ForexBrokers.com. On the other hand, FXGT.com receives a modest three-star rating and is positioned at 60th in the category, highlighting the significant contrast in their offerings.
| Feature |
Interactive Brokers
|
FXGT.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 117 |
| Forex Pairs (Total) | 90 | 53 |
| 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). | 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 FXGT.com both offer free virtual demo accounts for simulated trading, providing a risk-free environment for new traders to get a feel for the market. While both platforms offer Windows-based desktop and web browser options, a significant difference is seen in their approach to proprietary trading. Interactive Brokers has developed its own in-house platform, while FXGT.com relies on popular platforms like MetaTrader 4 and MetaTrader 5, which some users might prefer due to their wide acceptance in the trading community. Additionally, FXGT.com offers copy trading services, allowing traders to mirror the actions of more experienced investors, whereas Interactive Brokers does not.
When it comes to charting tools, Interactive Brokers significantly outpaces FXGT.com, providing 85 drawing tools compared to FXGT.com's 23. Furthermore, Interactive Brokers offers an impressive 659 fields for customizing watch lists, far exceeding FXGT.com's offering of 5 fields. Both brokers, however, allow trades to be executed directly from stock charts. In broader performance ratings, Interactive Brokers garners a 5-star rating and ranks 3rd among 62 brokers on ForexBrokers.com for their trading platforms and tools. In contrast, FXGT.com is rated 4 stars and placed 56th for similar offerings, indicating a preference for Interactive Brokers among traders prioritizing platform excellence.
| Feature |
Interactive Brokers
|
FXGT.com
|
|---|---|---|
| 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 | No |
| Charting - Indicators / Studies (Total) | 155 | 37 |
| Charting - Drawing Tools (Total) | 85 | 23 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 5 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Interactive Brokers and FXGT.com, there are several similarities and distinctions to note. Both platforms offer iPhone and Android apps, along with essential features such as stock and forex price alerts, watchlist symbol syncing, and real-time quotes. Moreover, users can draw trendlines and view multiple time frames on their charts. However, Interactive Brokers stands out by providing 97 technical studies for charting, compared to FXGT.com's 30. One advantage of FXGT.com lies in its capability to auto-save drawings on charts, a feature not available with Interactive Brokers.
In terms of user ratings and industry rankings, Interactive Brokers' mobile app is better received, boasting a 5-star rating and securing the 4th spot out of 62 brokers in the Mobile Trading Apps category according to ForexBrokers.com. In contrast, FXGT.com holds a 3.5-star rating and ranks 58th. These differences suggest that users seeking a broader range of technical analysis tools and higher industry ranking may prefer Interactive Brokers, while those valuing the convenience of auto-saving chart drawings might find FXGT.com more suitable.
| Feature |
Interactive Brokers
|
FXGT.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 | 30 |
| 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.
Interactive Brokers and FXGT.com present distinct choices for traders looking to access comprehensive market research. Interactive Brokers stands out by offering daily market commentary, alongside forex news sourced from renowned institutions like Bloomberg, Reuters, and Dow Jones. In contrast, FXGT.com does not provide these features. While both brokers offer traders sentiment-based tools, Interactive Brokers has the added advantage of supporting a range of research tools, including those from Trading Central and TipRanks, which are absent in FXGT.com's offerings. Additionally, Interactive Brokers gives users access to Acuity Trading's tools, a feature not available with FXGT.com.
Furthermore, Interactive Brokers excels with a seamless integration of features like an economic calendar to keep traders updated on global economic events. This efficiency in research tools contributes to its impressive 5-star research rating and a commendable third-place ranking out of 62 brokers by ForexBrokers.com. On the other hand, FXGT.com, while still providing an economic calendar, only manages a 3-star rating and a much lower placement at 56th in the same research rankings. This comparison highlights Interactive Brokers as a more extensive resource for traders prioritizing in-depth market research.
| Feature |
Interactive Brokers
|
FXGT.com
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| 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.
When it comes to educational resources for beginners, Interactive Brokers stands out with a comprehensive offering compared to FXGT.com. Interactive Brokers provides an extensive range of materials, including at least 10 articles, videos, and webinars focusing on forex and CFDs. These resources cater to both novice and advanced traders, ensuring a solid foundation in trading. Additionally, Interactive Brokers holds monthly live webinars and offers a searchable archive of past sessions, allowing users easy access to learn at their convenience. It also features an investor dictionary with over 50 terms, making complex finance jargon more accessible for newcomers.
Contrastingly, FXGT.com does not offer the same level of educational support for newcomers. While it has an investor dictionary similar to Interactive Brokers, FXGT.com lacks a comprehensive suite of educational materials, such as videos and webinars focusing specifically on forex and CFDs. It also doesn't provide monthly webinars or archived sessions for continuous learning. This difference is reflected in the ratings; Interactive Brokers earns a 5-star rating for its educational offerings, ranking #3 out of 62 brokers, whereas FXGT.com receives a 3-star rating, placing it at #59. For those seeking a well-rounded educational experience, Interactive Brokers is the superior choice.
| Feature |
Interactive Brokers
|
FXGT.com
|
|---|---|---|
| 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 FXGT.com. Interactive Brokers finished with an overall rank of #2, while FXGT.com finished with an overall rank of #58.
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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FXGT.com
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|---|---|---|
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| Trust Score | 99 | 69 |
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Interactive Brokers and FXGT.com both provide options for trading cryptocurrency derivatives, but only Interactive Brokers allows clients to purchase actual cryptocurrencies, whereas FXGT.com restricts users to derivatives only.
Interactive Brokers and FXGT.com both support ACH or SEPA transfers and bank wires for account deposits and withdrawals, but neither provides PayPal or Skrill options, with FXGT.com uniquely offering Visa or Mastercard 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 | FXGT.com | |
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| Trust Score | 99 | 69 | |
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| Review | Interactive Brokers Review |
| Broker Screenshots | Interactive Brokers | FXGT.com | |
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| Regulation | Interactive Brokers | FXGT.com | |
|---|---|---|---|
| Trust Score | 99 | 69 | |
| Year Founded | 1977 | 2019 | |
| 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 | 2 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | FXGT.com | |
|---|---|---|---|
| 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 | FXGT.com | |
|---|---|---|---|
| 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 | FXGT.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 117 | |
| Forex Pairs (Total) | 90 | 53 | |
| 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). | 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 | FXGT.com | |
|---|---|---|---|
| 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 | FXGT.com | |
|---|---|---|---|
| Minimum Deposit | $0 | $5 | |
| PayPal (Deposit/Withdraw) | No | No | |
| 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 | FXGT.com | |
|---|---|---|---|
| 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 | No |
| Trading Tools | Interactive Brokers | FXGT.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 5 | |
| Charting - Indicators / Studies (Total) | 155 | 37 | |
| Charting - Drawing Tools (Total) | 85 | 23 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | FXGT.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 | 30 | |
| 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 | FXGT.com | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | FXGT.com | |
|---|---|---|---|
| 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 | FXGT.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 |
| Overall | Interactive Brokers | FXGT.com | |
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| Trust Score | 99 | 69 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review |
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