Forex.com
Interactive Brokers
*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.
Basic data of broker
Recommended for Forex traders looking for low fees and great research tools
Recommended for Traders looking for broad market access and a professional trading environment
Best online broker
USA
USA
Fees
Low trading and average non-trading fees, low forex fees
Low trading and non-trading fees, free stock and ETF trading for US customers
Stock and ETF fees
Forex fees
Fund fees
Bond fees
Options fees
Futures fees
Crypto fees
CFD fees
Non-trading fees
Deposit and withdrawal
7
23
Deposit type
Withdrawal type
Account opening
$100
$0
1-3 days
1-3 days
Proof of identity: national ID / passport / driver's license Proof of residency: bank statement / utility bill / credit card statement
Proof of identity: national ID / passport / driver's license Proof of residency: bank statement / utility bill / driver's license / credit card statement
Trading platform
Markets and products
Disclaimer: 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Disclaimer: 60.0% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Research, education
Great
Great
Customer service
Security
£85,000 for clients under FCA, CAD 1 million for clients under IIROC, no investor protection for other clients
£85,000 or $500,000 (but only $250,000 for cash) in the UK depending on the assets you hold; $500,000 ($250,000) in the US; €20,000 (IB Ireland & Luxembourg) or €100,000 (IB Central Europe) in the EU, CAD 1 million in Canada; HKD 500,000 in Hong Kong
2001
1977
USA, UK, Canada, Japan, Cayman Islands, Cyprus, Hong Kong, Singapore, Australia
USA, Ireland, UK, Hungary, India, Australia, Canada, Japan, Hong Kong, Singapore
For detailed information and hands-on experience, read our review of this broker.
For detailed information and hands-on experience, read our review of this broker.
*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.
Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.
Forex.com's service is slightly weaker than Interactive Brokers's and a comparison of their fees shows that Forex.com's fees are slightly higher than Interactive Brokers's.
Account opening takes somewhat less effort at Forex.com compared to Interactive Brokers, deposit and withdrawal processes are more seamless at Forex.com, while customer service quality is somewhat lower than Interactive Brokers's.
Our experts rated the trading platform of Forex.com as being of the same quality as the platform of Interactive Brokers, found that clients have access to much less markets and products with Forex.com, while Interactive Brokers provides just about the same quality of research and education.
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