Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs Xtrade, 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.
Founded in 1977, Interactive Brokers stands out as a prominent choice for online trading with a Trust Score of 99 as rated by ForexBrokers.com. This high score reflects its solid reputation in the financial industry, bolstered by its status as publicly traded and holding nine Tier-1 licenses, which are recognized for their high level of trust. Additionally, Interactive Brokers has two Tier-2 licenses, adding another layer of credibility to its global operations. Although not a bank, the firm's extensive regulatory credentials make it a reliable platform for traders seeking a well-regarded broker.
In contrast, Xtrade, established in 2003, has a Trust Score of 74, indicating an average level of risk according to ForexBrokers.com. Unlike Interactive Brokers, Xtrade is not publicly traded and holds only one Tier-1 and one Tier-2 license. While Xtrade offers a viable platform for online trading, its lower trust rating and licensing count may present concerns for some traders comparing it to more established competitors. Both brokers are not banks, but Interactive Brokers' robust regulatory backing gives it an edge in instilling greater confidence among users.
| Feature |
Interactive Brokers
|
Xtrade
|
|---|---|---|
| Year Founded | 1977 | 2003 |
| 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 | 1 |
When comparing Interactive Brokers and Xtrade, it's clear that their commissions and fees structures offer vastly different experiences for traders. Interactive Brokers is renowned for its competitive pricing, offering a forex trading commission starting at 0.00002 (0.2 basis points) of the U.S. dollar trade value, with a minimum of $2 per order. This translates to a commission-equivalent of roughly 0.40 pips when trading $100,000 worth of EUR/USD, in addition to any prevailing spreads. While Interactive Brokers does not publish average spreads for forex, data from Q3 2024 shows their EUR/USD spread at around 0.59 pips after commission. Interactive Brokers aggregates prices from major interbank forex dealers, charging a commission per trade rather than marking up spreads.
In contrast, Xtrade's lack of available average spread data makes it challenging to evaluate its competitiveness in forex trading costs. Without this information, potential traders may find it difficult to assess total trading costs accurately. Interactive Brokers provides advantages for highly active traders, offering discounts that reduce the minimum charge from $2 to as low as $1 per order when certain monthly trading volumes are met. Such discounts are particularly beneficial for large-scale traders aiming to minimize their transaction costs even further.
Regarding star ratings, Interactive Brokers shines with a 5-star rating for commissions and fees, placing them at an impressive #2 ranking out of 62 brokers, as per ForexBrokers.com. In stark contrast, Xtrade receives a 2.5-star rating, ranking last at #62 in the same category. The discrepancy highlights the considerable differences in fee structures and potential cost-efficiency between these two online brokers, underscoring the importance for traders to consider Interactive Brokers for a more cost-effective forex trading experience.
| Feature |
Interactive Brokers
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $0 | $250 |
| 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 | 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 investment options available at Interactive Brokers and Xtrade, Interactive Brokers clearly stands out with a broader selection. They offer 8,500 tradeable symbols, including forex, stocks, and cryptocurrencies. It provides access to 90 forex pairs and enables clients to trade securities on both U.S. and international exchanges, like Apple and Vodafone. Furthermore, Interactive Brokers allows clients to buy actual cryptocurrencies. Although copy trading is not an option, the range offered has earned it a top ranking for the Range of Investments, with five stars from ForexBrokers.com.
In contrast, Xtrade offers a more limited range of investments, with 482 tradeable symbols and 56 available forex pairs. Unlike Interactive Brokers, Xtrade does not provide access to exchange-traded securities on U.S. or international exchanges. While Xtrade does offer cryptocurrency derivatives, clients cannot purchase actual cryptocurrencies. Without the option for copy trading and with fewer investment options, Xtrade has a rating of 3.5 stars for its Range of Investments, placing it at 49th among 62 brokers on ForexBrokers.com.
| Feature |
Interactive Brokers
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 482 |
| Forex Pairs (Total) | 90 | 56 |
| 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.
When comparing the trading platforms and tools of Interactive Brokers and Xtrade, both offer proprietary platforms developed in-house, alongside options for simulated trading through free virtual demo accounts. Interactive Brokers provides a comprehensive Windows-based desktop download platform and a web-based trading platform, whereas Xtrade is limited to just the latter. While neither broker offers popular trading platforms like MetaTrader 4 or 5, DupliTrade, or ZuluTrade, they do provide the ability to trade directly from a stock chart. However, Interactive Brokers stands out with an impressive selection of 85 drawing tools compared to Xtrade's 100, offering greater flexibility for technical analysis. Additionally, Interactive Brokers provides an extensive 659 fields for watch lists, far surpassing Xtrade's 9 fields.
In terms of user ratings and rankings, Interactive Brokers clearly sets itself apart, receiving a 5-star rating for its trading platforms and tools, while Xtrade achieves a 3.5-star rating. Users looking for highly rated and versatile trading platforms may find Interactive Brokers a more suitable choice, given its high rank of #3 among 62 brokers by ForexBrokers.com. On the other hand, Xtrade is ranked at #58, suggesting it may be better suited for those who prioritize other features or are content with a more straightforward trading experience.
| Feature |
Interactive Brokers
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | No |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | N/A |
| Charting - Drawing Tools (Total) | 85 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both Interactive Brokers and Xtrade provide apps for iPhone and Android devices, ensuring traders can access their accounts and make trades on the go. However, there are notable differences between the two in terms of features. Interactive Brokers shines with its comprehensive offering of 97 technical studies for charting, allowing users to analyze trends in detail. Contrast this with Xtrade, which does not provide this feature. For those looking to monitor the market actively, Interactive Brokers offers price alerts and the ability to sync watchlists between devices, which are not available with Xtrade. Additionally, charting capabilities with Interactive Brokers include drawing trendlines and analyzing multiple timeframes, functionalities absent in the Xtrade app.
In terms of creating watchlists with real-time quotes, Interactive Brokers offers this feature, giving traders a more dynamic trading experience compared to Xtrade. Despite these differences, both apps fall short in saving chart drawings automatically. When rated by ForexBrokers.com, Interactive Brokers shines with a 5-star rating and a commendable 4th place ranking out of 62 brokers for mobile trading apps. Xtrade, on the other hand, has been rated 4 stars and holds the 53rd spot, highlighting a significant gap in user satisfaction and feature offerings between these two platforms.
| Feature |
Interactive Brokers
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 97 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
Both Interactive Brokers and Xtrade provide daily market commentary and access to forex news from highly regarded sources like Bloomberg and Reuters. However, while neither platform offers tools from Autochartist, Interactive Brokers surpasses Xtrade by providing research tools from Trading Central. This includes sentiment-based tools that offer insight into trading positions, a feature Xtrade lacks. Additionally, Interactive Brokers includes market research options from TipRanks and Acuity Trading, which are not available through Xtrade.
When it comes to additional features, both platforms offer an economic calendar displaying global news events. Despite some similarities, Interactive Brokers stands out significantly in research capabilities, earning a commendable 5-star rating compared to Xtrade's 3.5 stars. Furthermore, ForexBrokers.com ranks Interactive Brokers at #3 out of 62 brokers for research, while Xtrade is ranked far lower at #52. This distinction highlights Interactive Brokers as a more comprehensive choice for market research needs.
| Feature |
Interactive Brokers
|
Xtrade
|
|---|---|---|
| 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.
When comparing Interactive Brokers and Xtrade in terms of educational resources for beginners, Interactive Brokers stands out with offerings that cover a broad range of needs. This platform not only provides educational materials related to forex and CFDs but also hosts monthly online webinars to help clients enhance their trading skills. Interactive Brokers boasts a searchable archive of previous webinars, ensuring continuous learning opportunities. Beginners can also benefit from at least 10 videos tailored specifically for their level, alongside an extensive library catering to advanced traders. An investor dictionary with over 50 investing terms rounds out their comprehensive educational suite, earning them a top-notch education rating of 5 stars and a commendable rank of 3 out of 62 brokers by ForexBrokers.com.
In contrast, Xtrade offers a more limited approach. While they provide educational content on forex and CFDs and have a dictionary for investment terms, the absence of monthly webinars and archived sessions may limit opportunities for interactive learning and in-depth exploration of topics. Xtrade's educational resources for beginners also lag with fewer targeted videos available compared to Interactive Brokers. As a result, Xtrade receives a lower educational rating of 3.5 stars and ranks 46 out of 62 brokers according to ForexBrokers.com.
| Feature |
Interactive Brokers
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| 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 Xtrade. Interactive Brokers finished with an overall rank of #2, while Xtrade finished with an overall rank of #59.
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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Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 74 |
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Interactive Brokers offers the option to buy actual delivered cryptocurrency and cryptocurrency derivatives, whereas Xtrade provides only cryptocurrency derivatives without the capability of purchasing actual cryptocurrencies.
Interactive Brokers and Xtrade differ in their account fund transfer options, with Interactive Brokers supporting ACH and SEPA transfers and bank wires, but not accepting PayPal, Skrill, Visa, or Mastercard, while Xtrade accepts Skrill, Visa, and Mastercard, alongside bank wires, but does not support ACH, SEPA, or PayPal transfers.
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 | Xtrade | |
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| Trust Score | 99 | 74 | |
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| Review | Interactive Brokers Review | Xtrade Review |
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| Regulation | Interactive Brokers | Xtrade | |
|---|---|---|---|
| Trust Score | 99 | 74 | |
| 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 | 1 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 482 | |
| Forex Pairs (Total) | 90 | 56 | |
| 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 | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $0 | $250 | |
| 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 | Xtrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 659 | 9 | |
| Charting - Indicators / Studies (Total) | 155 | N/A | |
| Charting - Drawing Tools (Total) | 85 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | Interactive Brokers | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 97 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | No |
| Research | Interactive Brokers | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| 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 | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
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| Trust Score | 99 | 74 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | Xtrade Review |
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