Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs IronFX, 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, founded in 1977 and publicly traded, stands out as a highly trusted online broker with an impressive Trust Score of 99 according to ForexBrokers.com. It holds nine Tier-1 licenses, making it a strong choice for those prioritizing regulatory safety. While not a bank, Interactive Brokers reassures investors through its extensive regulatory coverage and transparency.
IronFX, established in 2010, is not publicly traded and carries a Trust Score of 83, placing it in the 'trusted' category. The broker holds three Tier-1 licenses but lacks Tier-2 licenses. Although IronFX offers a trustworthy option for traders, it does not match the regulatory strength seen with Interactive Brokers.
| Feature |
Interactive Brokers
|
IronFX
|
|---|---|---|
| Year Founded | 1977 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 3 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Interactive Brokers offers competitive pricing for forex trading, though it does not publicly list average spreads. From available data for Q3 2024, the average spread for EUR/USD was 0.19 pips, resulting in an effective all-in spread of 0.59 pips after including commissions. Commissions per side start at 0.00002 of the U.S. dollar trade value, with a minimum of $2 per order or $4 for a round turn. Active forex traders can benefit from reduced fees, with prices dropping as low as 0.08 basis points when trading volumes exceed certain thresholds. Interactive Brokers' pricing, which includes commissions on trades rather than spreading markups, delivers value especially for high-volume traders, earning it a 5-star rating and a #2 rank out of 62 brokers for commissions and fees.
In contrast, IronFX's pricing structure shows room for improvement, with spreads higher than the industry average. For its Standard variable spread account, the company lists a typical spread of 1.8 pips, though this may vary between accounts. The zero fixed-spread account starts from zero but includes a $18 per lot commission, and spreads for this account type increase to 3 pips overnight. Compared to Interactive Brokers, IronFX receives a 4-star rating and is ranked #47 in the commissions and fees category by ForexBrokers.com.
Overall, when comparing Interactive Brokers and IronFX in terms of commissions and fees, Interactive Brokers leads with lower trading costs, especially favorable for high-volume traders, while IronFX's higher spreads may not appeal to all forex traders. The notable differences in broker ratings and rankings reflect Interactive Brokers' more attractive fee structure for those seeking cost-effective trading solutions.
| Feature |
Interactive Brokers
|
IronFX
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 0.59 | 1.2 |
| 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 IronFX both offer forex trading as a CFD or spot contract, allowing investors to engage in currency trading. However, when it comes to the variety of tradeable symbols, Interactive Brokers stands out with an impressive 8,500 tradeable symbols compared to IronFX's 340. In terms of forex pairs, Interactive Brokers again edges ahead with 90 pairs on offer, slightly more than IronFX's 83. Additionally, Interactive Brokers provides access to exchange-traded securities on both U.S. and international exchanges, enabling clients to invest in stocks like Apple and Vodafone. In contrast, IronFX does not provide such access, limiting clients' ability to directly purchase shares.
When it comes to trading cryptocurrency, Interactive Brokers offers the option to buy both actual cryptocurrencies and their derivatives, while IronFX only provides derivatives. Another distinction is the availability of copy trading, which is a feature exclusive to IronFX. Overall, Interactive Brokers receives a five-star rating for its range of investments due to its broad spectrum of offerings, while IronFX is rated 3.5 stars. Interactive Brokers is ranked at the top of 62 brokers for its investment range capability, whereas IronFX holds the 51st spot, indicating a significant difference in investment opportunities between the two platforms.
| Feature |
Interactive Brokers
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 340 |
| Forex Pairs (Total) | 90 | 83 |
| 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 IronFX both offer demo accounts, giving traders the chance to practice with virtual funds before committing real money. Interactive Brokers stands out with its own in-house developed platform, while IronFX relies on third-party solutions. Both provide Windows-based and web-based trading platforms, yet only IronFX includes copy trading through MetaTrader 4, enhancing its appeal for those interested in mirroring successful traders' strategies. Traders can also trade directly from stock charts on both platforms, streamlining their trading process. However, Interactive Brokers takes the lead with extensive customization options, offering 659 watchlist fields compared to IronFX's 7, as well as 85 drawing tools, significantly more than IronFX's 15.
When evaluating trading platforms and tools, Interactive Brokers earns a top rating of 5 stars, ranking 3rd among 62 brokers according to ForexBrokers.com. This high rating reflects a comprehensive suite of advanced features and a proprietary platform tailored for seamless trading experiences. Conversely, IronFX, rated 3.5 stars, sits much lower in the rankings at 60th place, indicating room for improvement. For traders prioritizing comprehensive tools and customization, Interactive Brokers offers a more advanced solution, while IronFX may suit those who prefer MetaTrader’s familiarity and copy trading capabilities.
| Feature |
Interactive Brokers
|
IronFX
|
|---|---|---|
| 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 | No |
| 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.
Interactive Brokers and IronFX both provide iPhone and Android apps for traders, making it easy to manage investments on the go. Both apps offer essential features like stock or forex price alerts and the ability to draw trendlines on charts, an important tool for technical analysis. However, Interactive Brokers takes an edge with its more advanced charting capabilities, offering 97 technical studies compared to IronFX's 30. Users of Interactive Brokers can also enjoy the convenience of watchlist symbol syncing, allowing seamless updates between mobile and online accounts, a feature currently absent in IronFX's app. While both apps let users switch between multiple time frames on charts and create watchlists with real-time quotes, Interactive Brokers stands out for offering a more comprehensive and integrated mobile trading experience.
Despite IronFX's mobile app allowing auto-saving of chart drawings and capturing some basic functionality, its overall mobile trading platform has certain limitations when compared to Interactive Brokers. This is reflected in their ratings, with Interactive Brokers earning a full 5-star rating and IronFX receiving a 3.5-star rating for their mobile trading apps. Furthermore, ForexBrokers.com ranks Interactive Brokers high at #4 out of 62 brokers, while IronFX lags behind at #61. These rankings highlight a significant preference among users for the feature-rich and user-friendly mobile app experience provided by Interactive Brokers, making it a favorable choice for both novice and experienced traders.
| Feature |
Interactive Brokers
|
IronFX
|
|---|---|---|
| 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 | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Interactive Brokers and IronFX both provide daily market commentary and top-tier forex news from sources like Bloomberg and Reuters. They each offer tools from Trading Central, famous for enhancing technical analysis. However, Interactive Brokers takes a significant lead in research tools by featuring market research from TipRanks and offerings from Acuity Trading, such as Signal Centre, which IronFX does not provide. A notable advantage for Interactive Brokers is its sentiment-based trading tool, giving users an inside look at long and short positions across various currency pairs, a feature IronFX lacks.
For traders seeking comprehensive market insights, Interactive Brokers also excels with a highly-rated research service, earning 5 out of 5 stars compared to IronFX’s 4 stars. Additionally, Interactive Brokers boasts a top-tier rank (#3 out of 62) for research on ForexBrokers.com, far surpassing IronFX's rank at #28. Both brokers do provide economic calendars to keep users updated on global economic events, yet Interactive Brokers’ superior offerings in market tools and its higher rating make it a more preferred choice for in-depth market research.
| Feature |
Interactive Brokers
|
IronFX
|
|---|---|---|
| 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 | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing Interactive Brokers and IronFX for their educational offerings aimed at beginners, both platforms provide a substantial suite of resources to help new traders navigate the complexities of forex and CFDs. Each broker offers over ten educational materials, including articles, videos, and archived webinars focused on these markets. Furthermore, both platforms host at least ten beginner-specific trading videos, ensuring that newcomers have access to tailored educational content. However, Interactive Brokers distinguishes itself with its regular monthly educational webinars, a feature IronFX does not provide. Additionally, both brokers maintain an archive of recorded webinars, allowing users to learn at their own pace. Interactive Brokers goes a step further by including advanced trading videos, adding depth to the educational journey for more experienced traders.
For those eager to build a robust investing vocabulary, both Interactive Brokers and IronFX provide investor dictionaries with definitions of over 50 terms. Despite the similarities in some educational offerings, Interactive Brokers receives a higher overall rating, earning 5 stars compared to IronFX’s 4 stars. This is reflected in the rankings by ForexBrokers.com, where Interactive Brokers stands at an impressive 3rd place for education amongst 62 brokers, while IronFX falls behind at the 44th spot. Thus, while both brokers cater well to beginners, Interactive Brokers offers a more comprehensive and highly-rated educational experience.
| Feature |
Interactive Brokers
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| 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 IronFX. Interactive Brokers finished with an overall rank of #2, while IronFX finished with an overall rank of #48.
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
|
IronFX
|
|---|---|---|
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| Trust Score | 99 | 83 |
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Interactive Brokers allows users to purchase actual delivered cryptocurrency and cryptocurrency derivatives, whereas IronFX only offers the ability to buy cryptocurrency derivatives.
Interactive Brokers supports ACH and SEPA transfers and bank wires for account transactions, while IronFX facilitates Skrill, Visa, Mastercard, and bank wires, but does not support ACH or SEPA transfers, and neither platform supports PayPal.
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 | IronFX | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review |
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| Regulation | Interactive Brokers | IronFX | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 1977 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 3 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 340 | |
| Forex Pairs (Total) | 90 | 83 | |
| 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 | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 1.2 | |
| 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 | IronFX | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| 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 | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | IronFX | |
|---|---|---|---|
| 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 | No | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Interactive Brokers | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review |
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