Higher Rated
Interactive Brokers
Capital at risk · T&Cs apply
In comparing FXCM and Interactive Brokers, traders will find distinct differences that cater to different needs and preferences. FXCM, headquartered in London, appeals to forex enthusiasts with its low spreads, robust proprietary platform, and strong educational resources, though it offers a limited product range and is not available in the US. In contrast, Interactive Brokers, based in the US, is ideal for professional traders seeking access to a wide array of global markets and advanced trading tools, though its complex platform may overwhelm beginners. Both brokers are well-regulated, but Interactive Brokers provides a more comprehensive market reach and lower commissions, making it suitable for active, experienced traders.
FXCM
Interactive Brokers
| FXCM | Interactive Brokers | |
|---|---|---|
| BrokerRank Score | 3.7/5 | 4.4/5 ✓ |
| Min. Deposit | $50 | $0 ✓ |
| Spread from | 0.2 pips | 0.2 pips |
| Max Leverage | 1:400 ✓ | 1:4 |
| Regulation | FCA, ASIC | SEC, CFTC, FCA ✓ |
| Platforms | MT4, Proprietary Web, Proprietary Mobile | Proprietary Web, Proprietary Mobile |
Interactive Brokers is the better choice overall, scoring 4.4/5 vs 3.7/5 on BrokerRank's independent rating. On fees, FXCM offers lower spreads (0.2 pips).
See full side-by-side comparison belowFXCM
Interactive Brokers
WinnerFXCM
Lower feesInteractive Brokers
FXCM is headquartered in London and operates under the stringent regulation of the Financial Conduct Authority (FCA) in the UK, providing a strong layer of security and trust. Additionally, FXCM is regulated by the Australian Securities and Investments Commission (ASIC), ensuring compliance with international standards. This regulatory oversight includes client fund protection schemes such as segregated accounts, ensuring customer funds are kept separate from the broker's operational funds.
Interactive Brokers, with its headquarters in Greenwich, USA, is regulated by multiple top-tier authorities, including the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), FCA, Monetary Authority of Singapore (MAS), and ASIC. This extensive regulatory framework offers a high level of security and transparency. Interactive Brokers also provides investor protection through various schemes, including SIPC in the US and client money protection in the UK.
FXCM offers competitive spreads starting from 0.2 pips on major forex pairs with zero commission, making it an attractive option for cost-conscious traders. The minimum deposit requirement is $50, and the broker provides a maximum leverage of 1:400. However, traders should note the presence of an inactivity fee, which can affect those who do not trade regularly.
Interactive Brokers also provides spreads starting from 0.2 pips but charges a commission of 0.005, which is significantly low, especially for high-volume traders. Notably, Interactive Brokers has no minimum deposit requirement, and its maximum leverage is 1:4, which may appeal more to those looking for lower-risk trading. Like FXCM, Interactive Brokers imposes an inactivity fee, primarily affecting small accounts.
FXCM offers the popular MetaTrader 4 (MT4) platform alongside its proprietary web and mobile platforms, known for their user-friendly interfaces and robust automated trading capabilities. Interactive Brokers, on the other hand, provides its proprietary web and mobile platforms, which, while comprehensive and feature-rich, may be more suited to experienced traders due to their complexity and advanced tools.
For beginners, FXCM is the more suitable option due to its user-friendly platforms and educational support. Professionals and those seeking low fees will find Interactive Brokers advantageous, especially with its wide market access and low commission structure.
FXCM
3.7/5
Choose FXCM if you want…
Interactive Brokers
4.4/5
Choose Interactive Brokers if you want…
Interactive Brokers scores higher overall on our independent rating system. FXCM holds a 3.7/5 rating vs Interactive Brokers's 4.4/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
FXCM offers spreads from 0.2 pips, while Interactive Brokers starts at 0.2 pips. Check the fees section above for a full breakdown.
FXCM requires a minimum deposit of $50. Interactive Brokers requires $0.
FXCM is regulated by FCA, ASIC, while Interactive Brokers holds licences from SEC, CFTC, FCA, MAS, ASIC.
FXCM supports MT4, Proprietary Web, Proprietary Mobile. Interactive Brokers supports Proprietary Web, Proprietary Mobile.
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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