FXCM vs Interactive Brokers compared

Online brokers compared for fees, trading platforms, safety and more. See how FXCM stacks up against Interactive Brokers!

FXCM
Interactive Brokers
63% or 74% of retail CFD accounts lose money
Interactive Brokers
4.9

Last update of dataJul 2022

FXCM

FXCM is a UK-based broker offering forex and CFD trading. It is regulated by the FCA and Australia's ASIC.

Recommended for forex traders looking for easy account opening, funding and withdrawal.

Interactive Brokers

Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC.

Recommended for traders looking for broad market access and a professional trading environment.

FXCM's service is slightly weaker than Interactive Brokers's and a comparison of their fees shows that FXCM's fees are slightly higher than Interactive Brokers's.

Account opening takes somewhat less effort at FXCM compared to Interactive Brokers, deposit and withdrawal processes are somewhat easier at FXCM, while customer service quality is somewhat better than Interactive Brokers's.

Our experts rated the trading platform of FXCM as being of the same quality as the platform of Interactive Brokers, found that clients have access to much less markets and products with FXCM, while Interactive Brokers provides just about the same quality of research and education.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

Basic data of broker

Overall Score
4.4

Recommended for Forex traders looking for easy account opening, funding and withdrawal

Overall Score
4.9

Recommended for Traders looking for broad market access and a professional trading environment

Best online broker

Country of origin

UK

Country of origin

USA

Fees

Fees score
4.0
Fees score
4.5
Fees summary

Average trading and non-trading fees, low CFD fees

Fees summary

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

CFD fees

Non-trading fees

Deposit and withdrawal

Deposit and withdrawal score
4.0
Deposit and withdrawal score
3.0
Number of base currencies

4

Number of base currencies

23

Deposit type

Withdrawal type

Account opening

Account opening score
4.2
Account opening score
3.2
Account opening fully online
Account opening fully online
Minimum deposit
*

$50

*
Minimum deposit
*

$0

*
Time to open account

1-3 days

Time to open account

1-3 days

Required documents

Proof of identity: ID / passport / driver's license Proof of residency: bank statement / utility bill

Required documents

Proof of identity: national ID / passport / driver's license Proof of residency: bank statement / utility bill / driver's license / credit card statement

Trading platform

Web platform score
3.3
Web platform score
4.0
Mobile platform score
4.5
Mobile platform score
3.5
Desktop platform score
3.8
Desktop platform score
3.8

Markets and products

Markets and products score
1.8
Markets and products score
5.0
Stocks
Stocks
Fractional shares
Fractional shares
*
*
ETFs
ETFs
Forex
Forex
Funds
Funds
Bonds
Bonds
Options
Options
Futures
Futures
Crypto
*
*
Crypto
*
*
CFDs
CFDs
CFD disclaimer

Disclaimer: 63% or 74% 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.

CFD disclaimer

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

Research score
4.5
Research score
4.3
Charting quality

Great

Charting quality

Great

Education score
5.0
Education score
4.5
Demo account
Demo account

Customer service

Customer service score
4.5
Customer service score
3.4
Phone
Phone
Live chat
Live chat
Email
Email
24/7 availability
24/7 availability

Security

Investor protection amount

£85,000 in the UK, €20,000 in the EU, no protection in other countries

Investor protection amount

£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

Banking background
Banking background
Listed on stock exchange
Listed on stock exchange
Foundation date

1999

Foundation date

1977

Country of regulation

UK, Australia, South Africa and Cyprus

Country of regulation

USA, Ireland, UK, Hungary, India, Australia, Canada, Japan, Hong Kong, Singapore

FXCM

For detailed information and hands-on experience, read our review of this broker.

Interactive Brokers

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.

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