FXTM and Interactive Brokers are online forex brokers that offer their trading services to traders and investors. FXTM is a regulated and trusted forex broker. It is regulated by multiple regulatory authorities including CySEC, CMA, FCA, FSCA, FSC-Mauritius. Similarly, Interactive Brokers is also a regulated broker which is regulated by SEC, CFTC, FCA, FSCS, FINRA, FCM, IIROC, MAS, FSA. Both the brokers have their own strengths and weaknesses.
In this article, we will review and compare the brokerage services offered by FXTM and Interactive Brokers. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.
FXTM vs Interactive Brokers: In a Nutshell
FXTM
Founded in 2011, FXTM is a forex and CFD broker that offers online trading services globally. The broker is regulated by multiple regulatory authorities including ASIC, IIROC, FFAJ, MFSA, MAS, FCA, CFTC, NFA, BVI FSC. The broker has 10000+ trading instruments including forex, CFDs, Stocks, Commodities like gold, silver, and oil, and cryptocurrencies like Bitcoin, Litecoin, and Ethereum. The broker offers most popular trading platforms like MT4 and MT5. FXTM serves clients from over 150 countries and has over 45 industry awards for excellent services. To learn more, read our review about FXTM.
FXTM Overview
- Founded In: 2011
- Founder: Andre Dashin
- Headquarters: Mauritius
- Minimum Deposit: $10
- Maximum Leverage: 1:2000
- Regulations: FSC (Mauritius)
- Trading platform:MT4, MT5 and Mobile Trading
- Account Types: Micro, Advantage, Advantage Plus
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Alfa-Click, Bitcoin, CASHU, Dash, DixiPay, DusuPay, Ether/Ethereum, FasaPay, Globe Pay, Konnexone, Litecoin, Local Bank Transfers, Maestro, Neteller, Ngan Luong, PerfectMoney, Qiwi, Skrill, VLoad, Yandex Money
- US Traders: Not Accept
Interactive Broker
Founded in New York, USA in 1978 by Thomas Peterffy, Interactive Brokers has grown into a global brand with over 2.1 million clients. It is an American Multinational brokerage firm headquartered in Greenwich, Connecticut. It has become one of the leading online trading solutions for traders, investors, and advisors. The brokers give access to over 5000+ tradable assets including forex, CFDs, warrants, ETFs Options, Futures, Mutual Funds, and Bonds. To trade online, IBKR offers WebTrader, FIX API, MobileTrader (MobileApp), and TWS trading platforms. To learn more about IBKR, you can read our review of Interactive Brokers
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
FXTM vs : Interactive Brokers Features
FXTM
- Trading Instruments: FX, Spot Metals, Index CFDs, Commodity CFDs, Cryptocurrency CFDs, Stock CFDs (only MT5)
- Maximum leverage: Up to 30:1 (CySEC, ASIC), up to 1000:1 (FSA), and up to 500:1 for a professional account.
- Minimum Deposit. 100 Euros, US dollars or British pounds
- Account Types: Two (Advantage and Advantage Plus
- Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.0 pips ($35 per million per side) for the Advantage account and 1.5 pips (No commission) for the Advantage plus account.
- PAMM/ MAM: Allowed
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
Interactive Brokers
- Trading Instruments: 5000+Trading instruments including forex, CFDs, warrants, ETFs Options, Futures, Mutual Funds, stocks, options, and Bonds
- Maximum leverage: 50:1 for US Clients, 30:1 for EU clients, and 400:1 for global clients.
- Minimum Deposit: The Interactive Brokers minimum deposit is $0 for a cash account, $2,000 for a T Reg margin account, and $110,000 for a portfolio margin account. The minimum deposit is subject to change depending on the trading account opened and the base currency selected.
- Trading Fees: spreads starting from as low as 0.1 pips, Stock fees USD 0.005 per share.
- PAMM/ MAM: Not Available
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed with Capitalise.ai
FXTM vs Interactive Broker: Pros and Cons
FXTM
- FXTM is regulated, and licensed by top-tier regulators (FCA (UK), CySEC, FSC, FSCA)
- Minimum deposit is $10
- The Maximum leverage is as high as 1:2000
- Ultra-low spreads starting from as low as 0 pips
- Offers Copy Trading & MAM Accounts
- A wide range of trading instruments
- Negative balance protection for EU Clients
- Over 30 Payment Methods
- Inactivity and withdrawal fees
- Does not support Myfxbook or ZuluTrader options for social trading
- No futures or options trading
- No negative balance protection for Non-EU Clients
- Most withdrawal options have a fee
- Large spread on standard Account
Interactive Broker
- 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
FXTM vs Interactive Broker: Side-by-Side Comparison
FXTM Vs Interactive Broker: Our Scores and Ratings
We rated both brokers, FXTM and Interactive Broker, 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.
FXTM :
Interactive Broker
Final Verdict :
Both FXTM and Interactive Brokers are regulated online trading platforms in the industry, offering services to traders and investors. However, there are some differences between them. FXTM is a multi-asset and social trading platform, providing trading instruments, including forex, major currency pairs, spot metals, CFD commodities,stock, crypto. It offers both leverage and non-leverage tradable assets. On the other hand, Interactive Brokers is a forex and CFD broker offers Stocks, options, futures, futures options, SSFs, ETFs, EFPs, currencies, fixed income, warrants and funds.
Our score for FXTM is 8.6, and for Interactive Brokers, it is 9.1 (based on our research; a score above 8 is considered safe and trustworthy). If you are seeking a social trading platform where you can copy other successful traders and have a one-stop solution for various types of trading, you may choose FXTM. However, if you prefer online forex and CFD brokers, you may choose Interactive Brokers.
