Forex.com
Founded in 2001 , Forex.com is a leading online forex and CFD broker that provides access to a wide range of trading instruments. It is a well established and regulated forex broker that offers MT4, MT5, and Tradingview platforms for US residents and and traders fom other countries. , Forex.com is known for its competitive pricing, advanced trading technology, and comprehensive research and analysis tools. It offers over 80 currency pairs, stocks, ETFs, gold, and silver for your personal investment and trading options.Gain capital operates this trading platform.
Forex.com Overview
- Founded In: 2001
- Founder: Gain Capital
- Headquarters: United States
- Minimum Deposit: $50
- Maximum Leverage: 50:1
- Regulations: CySEC, CFTC, NFA, CIMA, FCA, FSA, MAS, ASIC, CIRO
- Trading platform:MT5, TradingView
- Account Types: 2, (Standard, Raw Spread)
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, ACH Payments (echeck)
- US Traders: Accepted
Interactive Brokers
Founded in New York ,USA in1978 by Thomas Peterffy, Interactive broker has grown into a global brand with over 2.1 million clients. It has become one of the leading online trading solutions for trader, investors and advisors. The brokers give access to over 5000+ tradable assets including forex, CFDs, warrants, ETFS Options, Futures, Mutual Funds, Bonds.To trade online, IBKR offers WebTrader, FIX API, MobileTrader (MobileApp), TWS trading platforms.
Interactive Brokers Overview
- Founded In: 1978
- Founder: Chairman Thomas Peterffy
- Headquarters: Greenwich, Connecticut, United States
- Minimum Deposit: None
- Maximum Leverage: 500:1
- Regulations: SEC , CFTC ,FCA, FSCS, ASIC , IIROC , FSA
- Trading platform: WebTrader, FIX API, MobileTrader
- Account Types: Family Office Account ,UGMA/UTMA, IRA, Trust ,Joint, Individuals
- Payment Options: Bank Wire (BankTransfer/SWIFT), ACH (Automated Clearing House), BPAY, Check, Direct Debit, Local Bank Deposits, Transfer from Existing Broker
- US Traders: Accepted
Forex.com vs Interactive Brokers: Pros and Cons
Forex.com Pros & Cons
- Regulated by NFA, FCA, ASIC, CySEC, IIROC, FSA, CIMA, MAS,
- Top-rated forex and CFD broker in the USA
- Free demo account for prospective traders
- Crypto Trading available on MT5 Trading Platforms
- Offers protection for U.K./E.U. client accounts
- VPS hosting for automated strategies
- Offers MAM account for passive investors
- Low forex fees, no FX commissions
- You can not deposit less than $100
- Maximum leverage is 1:50
- No account protection for U.S. clients
- An inactivity fee applied after 12 months of no account activity
- Non-user-friendly desktop platform
- Cannot buy and sell other securities (like stocks and bonds)
Interactive Brokers Pros & Cons
- IBK is a Forex and Stock Broker
- Excellent reputation (founded in 1978)
- Regulated by top regulators like ASIC, FCA, FSA, SFC, IIROC
- A wide range of products offered warrants, ETFs, Options, Futures, Mutual Funds, Bonds
- Over 18,000 no-transaction-fee mutual funds.
- No monthly inactivity fee
- Low trading fees and high interest (up to 4.58% for USD) on cash balances
- Access to international markets and exchanges
- Mobile apps are convenient for individual investors.
- Complicated account opening
- Learning Curve for Beginners
- The maximum leverage is only 1:40
- No Metatrader platforms (MT4, MT5) offered
- High minimum deposit requirements for some account types
- Interactive Advisors (Robo-advisor feature) is only available for US customers
- No fixed spread is available
Forex.com vs Interactive Brokers: Side-by-Side Comparison
Forex.com Vs Interactive Brokers: Our Scores and Ratings
We rated both brokers, Forex.com and Interactive Brokers, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.
