Comparison of FXCM and Interactive Brokers
| Feature | FXCM | Interactive Brokers |
|---|---|---|
| Broker | ||
| Year Founded | 1999 | 1977 |
| Broker Type | STP, DMA | DMA |
| Dealing | A-book | A-book |
| Execution | Market | Market |
| Regulation | FCA, ASIC, CySEC, FSCA, CIRO, ISA, SVGFSA | SEC, FINRA, FCA, CBI, CIRO, ASIC, SFC, SEBI, JFSA, MAS |
| Platforms | MetaTrader 4 (MT4), Trading Station, TradingView | Trader Workstation (TWS), IBKR Mobile, Client Portal, IBKR GlobalTrader, FXTrader |
| Spread | ⮕ Average | ⬊ Low |
| Maximum Leverage | 1:1000 | 1:50 |
| Minimum Deposit | $50 | $1 |
| Base Currencies | USD, EUR, GBP | USD, EUR, GBP, AUD, CAD, CHF, JPY, HKD, SGD, SEK, NOK, DKK, NZD, PLN, HUF, CZK, MXN, ZAR, TRY, ILS, KRW, CNH, AED, SAR, MYR, TWD |
| Funding Methods | Bank Wire, Credit Card, Debit Card, Neteller, Skrill, PayPal | Bank Wire, ACH, SEPA/Bank Transfer, Check, Wise/Instarem, Online Bill Pay |
| Inactivity Fee | $50 per year after 12 months | ✖ |
| Interest on Margin | ✖ | ✔ |
| Withdrawal Fee | ✖ | First withdrawal each month free; subsequent bank wires ~ $10 |
| Investor Protection | UK Financial Services Compensation Scheme (FSCS), Investor Compensation Fund (ICF) | SIPC, FSCS, ICS |
| Protection Size | £85 000 / €20 000 | $500 000 / £85 000 |
| Segregated Accounts | ✔ | ✔ |
| Negative Balance Protection | ✔ | ✔ |
| Guaranteed Stop Loss | ✖ | ✖ |
| Copy Trading | ✔ | ✖ |
| VPS | ✔ | ✖ |
| MAM/PAMM | ✖ | ✖ |
| Scalping Allowed | ✔ | ✔ |
| EAs/Robots | ✔ | ✔ |
| Depth of Market (DOM) | ✔ | ✔ |
| Tradable Assets (CFDs) | Currencies, Indices, Stocks, ETFs, Cryptocurrencies, Metals, Energies, Soft Commodities | Stocks, ETFs, Options, Futures, Forex, Bonds, Mutual Funds, Cryptocurrencies, Commodities, CFDs |
| Review | FXCM Review | Interactive Brokers Review |
About FXCM
FXCM (Forex Capital Markets) is a well-established forex broker that has been serving traders since 1999. Known for its commitment to innovation, FXCM provides a range of advanced trading platforms, including its proprietary Trading Station and third-party options like MetaTrader 4 (MT4) and NinjaTrader. The broker offers access to various trading instruments, including forex, indices, commodities, and cryptocurrencies, making it a versatile choice for traders of all experience levels. FXCM operates under the regulation of trusted authorities, such as the FCA, ASIC, and FSCA, ensuring a safe and transparent trading environment.
Pros
- Regulated by reputable authorities (FCA, ASIC, FSCA)
- Access to multiple trading platforms, including Trading Station, MT4, and TradingView
- No-dealing-desk execution for transparency and direct market access
- Comprehensive educational resources and market analysis tools
- Competitive spreads and flexible leverage options
- Wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies
- Strong focus on platform innovation and advanced tools
Cons
- Higher trading fees on some instruments compared to competitors
- Limited account types for specialized trading needs
- No support for MetaTrader 5 (MT5)
- Customer support may vary depending on the region
About Interactive Brokers
Interactive Brokers (IBKR) is a global multi-asset broker founded in 1977. Regulated on four continents, IBKR offers direct market access to 150+ exchanges in 33 countries, tight pricing on FX, and some of the lowest commissions in the industry. Clients trade via the powerful Trader Workstation, streamlined Client Portal, or mobile apps, choose from 20+ base currencies, and benefit from SIPC/FSCS investor protection and ESMA-mandated negative balance protection for CFDs.
Pros
- Tier-1 regulation in the US, UK, EU, Canada, Australia, Asia
- Access to 150+ markets across 33 countries and 26 currencies
- Ultra-low spreads and volume-based commissions
- Advanced Trader Workstation plus simple mobile & web platforms
- No minimum deposit for cash accounts and no inactivity fee
- Negative balance protection for EU retail CFD traders
Cons
- Minimum FX order size ~ 20 000 units limits small accounts
- Trader Workstation has a steep learning curve
- No credit/debit-card funding options
- Customer support is not 24/7
FXCM & Interactive Brokers Regulation
| Feature | FXCM | Interactive Brokers |
|---|---|---|
Companies | Stratos Markets Limited, Stratos Trading Pty. Limited, Stratos Europe Ltd (ex FXCM EU LTD), Stratos South Africa (Pty) Ltd, Friedberg Mercantile Group Ltd., Stratos Light Limited, Stratos Global LLC | Interactive Brokers LLC, Interactive Brokers (U.K.) Ltd, Interactive Brokers Ireland Ltd, Interactive Brokers Canada Inc., Interactive Brokers Australia Pty Ltd, Interactive Brokers Hong Kong Ltd, Interactive Brokers India Pvt. Ltd, Interactive Brokers Securities Japan Inc, Interactive Brokers Singapore Pte. Ltd |
Countries | United Kingdom, Australia, Cyprus, South Africa, Canada, Israel, Saint Vincent and the Grenadines | United States, United Kingdom, Ireland, Canada, Australia |
Regulators | FCA, ASIC, CySEC, FSCA, CIRO, ISA, SVGFSA | SEC, FINRA, FCA, CBI, CIRO, ASIC, SFC, SEBI, JFSA, MAS |
Investor Protection | UK Financial Services Compensation Scheme (FSCS), Investor Compensation Fund (ICF) | SIPC, FSCS, ICS |
Investor Protection Size | £85 000 / €20 000 | $500 000 / £85 000 |
Publicly Traded | ||
Segregated Accounts | ||
Guaranteed Stop Loss | ||
Negative Balance Protection |
Companies
FXCM
Stratos Markets Limited, Stratos Trading Pty. Limited, Stratos Europe Ltd (ex FXCM EU LTD), Stratos South Africa (Pty) Ltd, Friedberg Mercantile Group Ltd., Stratos Light Limited, Stratos Global LLC
Interactive Brokers
Interactive Brokers LLC, Interactive Brokers (U.K.) Ltd, Interactive Brokers Ireland Ltd, Interactive Brokers Canada Inc., Interactive Brokers Australia Pty Ltd, Interactive Brokers Hong Kong Ltd, Interactive Brokers India Pvt. Ltd, Interactive Brokers Securities Japan Inc, Interactive Brokers Singapore Pte. Ltd
Countries
FXCM
United Kingdom, Australia, Cyprus, South Africa, Canada, Israel, Saint Vincent and the Grenadines
Interactive Brokers
United States, United Kingdom, Ireland, Canada, Australia
Regulators
FXCM
FCA, ASIC, CySEC, FSCA, CIRO, ISA, SVGFSA
Interactive Brokers
SEC, FINRA, FCA, CBI, CIRO, ASIC, SFC, SEBI, JFSA, MAS
Investor Protection
FXCM
UK Financial Services Compensation Scheme (FSCS), Investor Compensation Fund (ICF)
Interactive Brokers
SIPC, FSCS, ICS
Investor Protection Size
FXCM
£85 000 / €20 000
Interactive Brokers
$500 000 / £85 000
Publicly Traded
FXCM
Interactive Brokers
Segregated Accounts
FXCM
Interactive Brokers
Guaranteed Stop Loss
FXCM
Interactive Brokers
Negative Balance Protection
FXCM
Interactive Brokers
Account Types
| Account | FXCM | Interactive Brokers |
|---|---|---|
STP Account | ||
| Account Name | Standard | — |
| Min Deposit | $50 | — |
| Lot Size | 0.01 | — |
| Spread Type | Floating | — |
| Execution | Market | — |
| Min Spread | 1.2 | — |
| Fee | No | — |
| Max Leverage | 1:1000 | — |
| Stop Out | 100% | — |
| Margin Call | 100% | — |
DMA Account | ||
| Account Name | — | IBKR Pro |
| Min Deposit | — | $0 |
| Lot Size | — | 0.01 |
| Spread Type | — | Floating |
| Execution | — | Market |
| Min Spread | — | 0.1 |
| Fee | — | $4 per 1 lot |
| Max Leverage | — | 1:50 |
| Stop Out | — | 50% |
| Margin Call | — | 100% |
| Additional Features | ||
| Demo Account | ||
| VIP Account | ||
| Swap-Free Account | ||
| Copy Trading | ||
| VPS | ||
| PAMM/MAM Accounts | ||
STP Account
Account Name
FXCM
Standard
Interactive Brokers
—
Min Deposit
FXCM
$50
Interactive Brokers
—
Lot Size
FXCM
0.01
Interactive Brokers
—
Spread Type
FXCM
Floating
Interactive Brokers
—
Execution
FXCM
Market
Interactive Brokers
—
Min Spread
FXCM
1.2
Interactive Brokers
—
Fee
FXCM
No
Interactive Brokers
—
Max Leverage
FXCM
1:1000
Interactive Brokers
—
Stop Out
FXCM
100%
Interactive Brokers
—
Margin Call
FXCM
100%
Interactive Brokers
—
DMA Account
Account Name
FXCM
—
Interactive Brokers
IBKR Pro
Min Deposit
FXCM
—
Interactive Brokers
$0
Lot Size
FXCM
—
Interactive Brokers
0.01
Spread Type
FXCM
—
Interactive Brokers
Floating
Execution
FXCM
—
Interactive Brokers
Market
Min Spread
FXCM
—
Interactive Brokers
0.1
Fee
FXCM
—
Interactive Brokers
$4 per 1 lot
Max Leverage
FXCM
—
Interactive Brokers
1:50
Stop Out
FXCM
—
Interactive Brokers
50%
Margin Call
FXCM
—
Interactive Brokers
100%
Additional Features
Demo Account
FXCM
Interactive Brokers
VIP Account
FXCM
Interactive Brokers
Swap-Free Account
FXCM
Interactive Brokers
Copy Trading
FXCM
Interactive Brokers
VPS
FXCM
Interactive Brokers
PAMM/MAM Accounts
FXCM
Interactive Brokers
Funding and Fees
| Feature | FXCM | Interactive Brokers |
|---|---|---|
Base currencies | USD, EUR, GBP | USD, EUR, GBP, AUD, CAD, CHF, JPY, HKD, SGD, SEK, NOK, DKK, NZD, PLN, HUF, CZK, MXN, ZAR, TRY, ILS, KRW, CNH, AED, SAR, MYR, TWD |
Deposit and withdrawal methods | Bank Wire, Credit Card, Debit Card, Neteller, Skrill, PayPal | Bank Wire, ACH, SEPA/Bank Transfer, Check, Wise/Instarem, Online Bill Pay |
Inactivity fee | $50 per year after 12 months | |
Interest on margin | ||
Withdrawal fee | First withdrawal each month free; subsequent bank wires ~ $10 |
Base currencies
FXCM
USD, EUR, GBP
Interactive Brokers
USD, EUR, GBP, AUD, CAD, CHF, JPY, HKD, SGD, SEK, NOK, DKK, NZD, PLN, HUF, CZK, MXN, ZAR, TRY, ILS, KRW, CNH, AED, SAR, MYR, TWD
Deposit and withdrawal methods
FXCM
Bank Wire, Credit Card, Debit Card, Neteller, Skrill, PayPal
Interactive Brokers
Bank Wire, ACH, SEPA/Bank Transfer, Check, Wise/Instarem, Online Bill Pay
Inactivity fee
FXCM
$50 per year after 12 months
Interactive Brokers
Interest on margin
FXCM
Interactive Brokers
Withdrawal fee
FXCM
Interactive Brokers
First withdrawal each month free; subsequent bank wires ~ $10
Trading Platforms and Conditions
| Feature | FXCM | Interactive Brokers |
|---|---|---|
Trading Platforms | MetaTrader 4 (MT4), Trading Station, TradingView | Trader Workstation (TWS), IBKR Mobile, Client Portal, IBKR GlobalTrader, FXTrader |
Execution Speed | 28 ms | 4 ms |
Scalping | ||
Expert Advisors (EAs) | ||
Depth of Market (DOM) | ||
Spread | average | low |
Trading Platforms
FXCM
MetaTrader 4 (MT4), Trading Station, TradingView
Interactive Brokers
Trader Workstation (TWS), IBKR Mobile, Client Portal, IBKR GlobalTrader, FXTrader
Execution Speed
FXCM
28 ms
Interactive Brokers
4 ms
Scalping
FXCM
Interactive Brokers
Expert Advisors (EAs)
FXCM
Interactive Brokers
Depth of Market (DOM)
FXCM
Interactive Brokers
Spread
FXCM
average
Interactive Brokers
low
Trading Assets
| Asset | FXCM | Interactive Brokers |
|---|---|---|
Currencies | 41 | 87 |
Indices | 15 | 23 |
Stocks | 3512 | 8139 |
Cryptocurrencies | 23 | 11 |
Bonds | 0 | 87 |
Metals | 3 | 4 |
Energies | 7 | 10 |
Soft Commodities | 4 | 15 |
ETFs | 280 | 532 |
Currencies
FXCM
41
Interactive Brokers
87
Indices
FXCM
15
Interactive Brokers
23
Stocks
FXCM
3512
Interactive Brokers
8139
Cryptocurrencies
FXCM
23
Interactive Brokers
11
Bonds
FXCM
0
Interactive Brokers
87
Metals
FXCM
3
Interactive Brokers
4
Energies
FXCM
7
Interactive Brokers
10
Soft Commodities
FXCM
4
Interactive Brokers
15
ETFs
FXCM
280
Interactive Brokers
532
Education and Analytics
| Feature | FXCM | Interactive Brokers |
|---|---|---|
Economic Calendar | ||
Indicators | ||
Robots | ||
Signals | ||
Autochartist | ||
Expert Analytics | ||
News Feed | ||
Education Articles | ||
Webinars | ||
Seminars |
Economic Calendar
FXCM
Interactive Brokers
Indicators
FXCM
Interactive Brokers
Robots
FXCM
Interactive Brokers
Signals
FXCM
Interactive Brokers
Autochartist
FXCM
Interactive Brokers
Expert Analytics
FXCM
Interactive Brokers
News Feed
FXCM
Interactive Brokers
Education Articles
FXCM
Interactive Brokers
Webinars
FXCM
Interactive Brokers
Seminars
FXCM
Interactive Brokers
Customer Support
| Contact | FXCM | Interactive Brokers |
|---|---|---|
Email | info@fxcmmarkets.com | help@interactivebrokers.com |
Phone | +16462531401 | +18774422757 |
Facebook | ||
LinkedIn | — | |
YouTube | YouTube | YouTube |
Instagram | — | |
Twitter |
Email
Interactive Brokers
Phone
FXCM
Interactive Brokers
LinkedIn
FXCM
—
Interactive Brokers
Instagram
FXCM
—
Interactive Brokers
Which Broker is Better?
After comparing FXCM and Interactive Brokers, Interactive Brokers comes out ahead as our overall pick. It ranks higher in our internal scoring and delivers a stronger balance of pricing (spreads/fees), platform experience, and product range. That said, the runner-up may still be a better fit if you prioritize specific needs—like a particular account type, funding method, or niche instruments. This is not financial advice; always choose a broker that matches your goals and local regulatory requirements.
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Andriy Bondarenko
Broker Analyst
Andriy is a seasoned expert in broker reviews with over a decade of experience in finance and trading. Under his leadership, the team produces in-depth and unbiased analyses of leading trading platforms.