This review compares the services of FOREX.com vs. Interactive Brokers, which are two of the best-known names in the online brokerage business. In brief, FOREX.com caters mainly to forex traders, while Interactive Brokers caters more to international multi-asset traders and investors. Determining which online broker would suit you better will depend on your trading needs and preferences since both offer excellent services but provide different user experiences.
In this article, we review and compare both forex brokers to help you decide which of the two would be right for your needs.
- What is FOREX.com?
- Quick Overview
- What is Interactive Brokers?
- See All 17 Items
What is FOREX.com?
FOREX.com was founded as part of GAIN Capital Holdings to provide online brokerage services for the retail forex and contract for difference (CFD) markets. The FOREX.com broker business was acquired in 2020 by StoneX, an institutional-level financial services network with assets of $10.9 billion that serves 32,000 commercial clients and over 330,000 retail accounts across 180 countries, earning its position as a leading forex broker.
FOREX.com provides forex brokerage services to 420,000 customers in 18 countries across 5 continents. The broker employs more than 3,500 people and averages an impressive 0.19 seconds for trade execution, which is an attractive option for forex and CFD traders at all levels, including beginner traders.
FOREX.com lets you trade in over 500 markets and provides an easy-to-use trading experience and venue across more than 80 different currency pairs, popular equities and stock indices, commodities like silver and gold, a wide variety of CFDs and selected futures contracts. You can also open a free demo account so you can assess and test the broker’s services risk-free.
While FOREX.com does not offer negative balance protection to U.S.-based traders, if you are based in Europe, then you can open an account with FOREX.com (U.K.) to take advantage of ESMA-mandated security features like negative balance protection and guaranteed stop-loss orders.
>> Read our full FOREX.com review
Quick Overview
| Best For | Forex and CFD traders at all levels |
| MetaTrader 4 (MT4) Compatible | Yes |
| MetaTrader 5 (MT5) Compatible | Yes |
| Mobile App | Yes |
| Year Founded | 2001 |
| Headquarters | Warren, New Jersey, U.S. |
| Minimum Initial Deposit | $100 |
| Active Trader or VIP Discount | Yes |
| Currency Pairs | 80+ |
What is Interactive Brokers?
U.S.-based Interactive Brokers, Inc. (IBKR) is a multinational broker-dealer with offices in the U.S., Canada, the U.K., Hungary, Ireland, Hong Kong and Shanghai in China, Japan, Singapore, Australia and India. Founded in 1977 by trader Thomas Peterffy as T.P. & Co, Interactive Brokers completed its 45th year in 2022 as a broker-dealer with over $10.9 billion in consolidated equity capital.
Interactive Brokers provides direct access to over 150 different worldwide markets. The broker is represented on many major world stock and commodity exchanges and offers trading in forex, stocks, futures, listed options, bonds, gold, and cryptocurrencies.
The proprietary trading platforms offered by Interactive Brokers feature its flagship desktop Trader Workstation (TWS) and its web-based Client Portal. Other platforms available at IBKR include the IBKR EventTrader and IMPACT, a specialized app for ESG-focused investors. You can also get access to IBKR’s mobile applications IBKR Mobile and IBKR GlobalTrader, a simple app for trading stocks, options and cryptocurrencies. IBKR’s trading cost and narrow forex dealing spreads are among the best in the business, making it a preferred choice for many.
Through IBKR’s FXTrader, you get access to an optimized trading interface with appropriate tools for currency markets. These tools include real-time streaming quotes, up and down indicators, pending trades, positions, trading volume and average price plus profit/loss scenarios.
IBKR offers its traders some of the best margin rates and narrowest forex dealing spreads, with some spreads as low as 1/10 of a pip. The broker currently has no minimum deposit for a retail trader to open an account, although it requires other brokers to initially deposit at least $10,000 to open a broker account.
>> Read our full Interactive Brokers review
Quick Overview
| Best for | Multi-asset traders and international investors |
| MetaTrader 4 (MT4) Compatible | No |
| MetaTrader 5 (MT5) Compatible | No |
| Mobile App | Yes |
| Year Founded | 1977 |
| Headquarters | Greenwich, Connecticut, U.S. |
| Minimum Initial Deposit | $0 for retail clients and $10,000 for brokers |
| Active Trader or VIP Discount | Yes |
| Currency Pairs | 120+ |
Comparing FOREX.com vs. Interactive Brokers
Here's a clear, side-by-side comparison of FOREX.com vs. IBKR across key categories.
1. Company Background & Reach
FOREX.com offers a strong retail trading brand under StoneX Group, serving 420,000 clients in 18 countries. It was founded in 2001 and focuses heavily on forex and CFD trading. The company has a solid presence with over 3,500 employees and a global footprint. FOREX.com serves fewer clients in fewer countries due to being primarily a forex broker and undergoing more stringent regulations.
Interactive Brokers offers a much older and broader operation. It was founded in 1977 and now supports clients in over 200 countries with direct access to 150+ markets. It’s publicly traded, extremely well-capitalized, and serves retail and institutional clients.
| Feature | FOREX.com | Interactive Brokers |
|---|---|---|
| Year Founded | 2001 | 1977 |
| Headquarters | New Jersey, U.S. | Connecticut, U.S. |
| Parent Company | StoneX Group (Ticker: SNEX) | Publicly traded (Ticker: IBKR) |
| Global Reach | 420K clients in 18 countries | 2.6 million institutional and individual brokerage customers in 200+ countries |
2. Account Minimums
FOREX.com offers retail account access with a $100 minimum deposit. This is a fairly low barrier to entry for most beginner traders.
Interactive Brokers offers an even more accessible setup with $0 minimum for individual retail accounts. Broker and institutional accounts have a $10,000 requirement, but that’s irrelevant for most individuals.
| Feature | FOREX.com | Interactive Brokers |
|---|---|---|
| Retail Traders | $100 | $0 |
| Brokers | N/A | $10,000 |
3. Trading Instruments
FOREX.com offers a wide range of forex pairs (80+), stock index CFDs, commodity CFDs, precious metals, and cryptocurrency CFDs. You can also trade futures through their FuturesOnline affiliate. However, all stock trading is through CFDs, not real shares.
Interactive Brokers offers a massive selection of instruments across real asset classes — stocks (90+ exchanges), forex (120+ pairs), futures, options, bonds, ETFs, mutual funds, cryptos, and even hedge funds. These are real assets, not just CFDs.
| Category | FOREX.com | IBKR |
|---|---|---|
| Forex Pairs | 80+ | 120+ |
| Stocks | 5,500+ CFDs | 90+ global exchanges, fractional shares |
| ETFs | No focus | 150 NTF ETFs, rebate programs |
| Futures/Options | Yes via affiliate | Broad access globally |
| Commodities | Gold, Silver, Oil, Softs Commodities | Broad list incl. spot gold |
| Cryptocurrencies | BTC, ETH, LTC, XRP (CFDs) | BTC, BCH, ETH, LTC (real, not CFDs) |
| Bonds | No | 1M+ bonds globally |
| Mutual Funds | No | 46,000+ |
| Hedge Funds | No | 50 available via marketplace |
4. Trading Platforms
FOREX.com offers MetaTrader 4 and 5, TradingView, and customizable web and mobile platforms. The mobile app is well-designed and features Smart Signals and Performance Analytics.
Interactive Brokers offers the institutional-grade Trader Workstation (TWS), web-based Client Portal, IBKR Mobile, and IBKR GlobalTrader. While it doesn’t support MT4 or MT5 directly, it has API and 3rd-party integrations for pro users.
| Feature | FOREX.com | Interactive Brokers |
|---|---|---|
| Mobile App | Customizable, solid tools | IBKR Mobile + IBKR GlobalTrader |
| Desktop Platform | Web Trader, MT4, MT5, TradingView | Trader Workstation (TWS), robust |
| MT4/MT5 Compatible | Yes | No (MT5 available via third-party for brokers only) |
| API Support | Limited | Full API Access |
5. Execution Speed
FOREX.com offers an average execution speed of 0.19 seconds, which is excellent and ideal for scalpers and fast-paced forex traders.
Interactive Brokers offers no published stat for average execution time, though execution quality is known to be high due to smart order routing and institutional routing access.
| Feature | FOREX.com | Interactive Brokers |
|---|---|---|
| Avg Trade Execution | 0.19 seconds | Not specifically disclosed |
6. Spreads and Commissions
FOREX.com offers fixed commissions of $7 per $100k traded on the RAW Pricing accounts and $0 on Spread-Only accounts. Spreads are around 1.3 pips on EUR/USD. Costs are predictable but not particularly low.
Interactive Brokers offers ultra-tight spreads (as low as 0.2 pips on EUR/USD) and variable commissions starting at just 0.002% of trade value. The more you trade, the cheaper it gets.
Spreads
| Currency Pair | FOREX.com Typical Spread | IBKR Typical Spread |
|---|---|---|
| EUR/USD | 1.3 pips | 0.2 pips |
| GBP/USD | 1.7 pips | 1.0 pip |
| USD/JPY | 1.4 pips | 0.3 pips |
Commissions
| Commission Model | FOREX.com | IBKR |
|---|---|---|
| Type | Fixed: $7 per $100k on RAW Pricing accounts and $0 on Spread-Only accounts | Variable: from 0.002% (min $2/order) |
| Spread Markup | Yes | No (true ECN style pricing) |
7. Research and Education
FOREX.com offers free educational resources, daily analysis, webinars, economic calendars, and trading courses suitable for beginner to advanced users.
Interactive Brokers offers premium research from major outlets like Dow Jones, MT Newswires, and Trading Central, plus access to alternative data providers. Much of this is subscription-based, but demo users can still explore most tools.
| Feature | FOREX.com | Interactive Brokers |
|---|---|---|
| Free Research | Yes | Some free, some premium |
| Market Analysis | Yes (economic calendar, webinars and more) | Extensive (Dow Jones, Trading Central) |
| Educational Tools | Beginner to advanced training | More focused on pros + algo tools |
| Alternative Data | No | Yes (Estimize, Alexandria) |
8. Regulation and Safety
FOREX.com offers regulation under the CFTC and NFA in the U.S. and the FCA in the U.K., along with several international regulators listed below, making it a well-regulated and secure choice.
Interactive Brokers offers regulation under the CFTC, NFA, FCA, and virtually every major global regulator due to its massive international presence.
| Broker | Major Regulators |
|---|---|
| FOREX.com | CFTC, NFA, FCA, FSA, CIRO, CySEC, CIMA, MAS and ASIC |
| IBKR | CFTC, NFA, FCA, and other global regulators |
9. Negative Balance Protection
FOREX.com offers negative balance protection only to European clients (via FOREX.com UK), but not to U.S. traders.
Interactive Brokers offers negative balance protection even to U.S. clients, though it charges a 1% financing spread on overnight CFD positions to cover the risk.
| Feature | FOREX.com | IBKR |
|---|---|---|
| U.S. Clients | ❌ Not offered | ✅ Available (with 1% fee on CFDs) |
| EU/UK Clients | ✅ Yes (via FOREX.com UK) | ✅ Yes |
10. Who It's Best For
FOREX.com offers an ideal setup for forex-focused traders, MetaTrader users, and those who want a straightforward CFD platform with good mobile access.
Interactive Brokers offers a better solution for global, multi-asset traders, professionals, and anyone seeking institutional-grade tools, real asset access, and low trading costs.
| FOREX.com | IBKR |
|---|---|
| Forex & CFD traders | Multi-asset, advanced & global investors |
| MetaTrader users | High-volume, pro, algo & diversified users |
Final Verdict
If you're just getting started in forex or prefer a simplified platform with MT4/MT5 access, FOREX.com is a solid option. But for everything else — from tighter spreads to real stocks, massive global market access, and pro-level tools — Interactive Brokers is the clear winner.
FOREX.com makes a lot of sense for forex traders, especially if they’re already familiar with and want to use the NinjaTrader platform or the MetaQuotes platforms (MT4 and MT5) that support easy algorithmic trading and strategy backtesting.
Also, less experienced forex traders can access educational materials geared specifically towards the forex market at FOREX.com, while the educational resources at Interactive Brokers tend to cater to more experienced traders and cover a variety of different financial markets.
On the other hand, if you’re an advanced trader who wants to operate globally and manage other assets besides currencies, such as stocks, bonds and other types of investment assets, you would probably be better off trading through Interactive Brokers, since FOREX.com deals exclusively with forex and CFDs.
Frequently Asked Questions
Is IBKR good for beginners?
IBKR may not be the best choice for a beginning trader. The broker has a less intuitive trading platform and offers a wide range of assets more suitable for the advanced multi-asset trader. If you’re looking to start trading forex and want to learn about that market, then FOREX.com would probably be a better fit for your needs.
Is IBKR good for forex trading?
Yes, IBKR features an ECN-type model for forex trade executions, so you get access to the highly-competitive Interbank forex market. This lets IBKR offer some of the tightest forex dealing spreads in the business. On the downside, IBKR does not support the popular MetaTrader 4 and 5 platforms that allow forex trading to be easily automated.
Which trading platform is better: Interactive Brokers or FOREX.com?
Your choice of trading platform will probably depend on your level of expertise and whether you want to trade multiple assets or just forex. The TWS platform offered by Interactive Brokers is aimed more at advanced traders and seems less intuitive to navigate, but it allows you to trade forex along with stocks and other tradable assets from around the world. FOREX.com focuses instead on offering forex and CFD trading and supports the NinjaTrader third-party trading platform and the MetaTrader 4 and 5 platforms that offer algorithmic and social trading options and an extensive user community that retail traders new to the forex market can benefit from conversing with.
Is FOREX.com a good forex broker?
Yes, FOREX.com is an excellent forex broker and has high trust score ratings among users, along with a reputable track record.
Get a Forex Pro on Your Side
FOREX.com, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets with low pricing and spreads, fast, quality execution on every trade.
You can also tap into:
- EUR/USD as low as 0.0 with fixed $7 commissions per $100k USD traded
- Powerful, purpose-built currency trading platforms like MT4, MT5, TradingView, cTrader and NinjaTrader
- Monthly cash rebates with FOREX.com’s Active Trader Program
Learn more about FOREX.com powerful trading platform and how you can get started today.
About Kaitlyn Wolf
Kaitlyn Wolf is a personal finance, investing and lifestyle writer with over 8 years of experience in the SEO world. Her main focuses include forex, saving for retirement, budgeting and personal investing strategies. She’s passionate about helping others take control of their finances in simple and easy to understand ways. Her work has been published on various investing platforms including MoneyLion and Benzinga.