Interactive Brokers vs FXCM 2025

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Regulation

Interactive Brokers, established in 1977, and FXCM, founded in 1999, are both reputable platforms for online trading. Interactive Brokers is publicly traded and holds nine Tier-1 licenses, which are top indicators of trustworthiness, along with two Tier-2 licenses. It boasts a perfect Trust Score rating of 99 out of 99, suggesting a highly trusted status. In contrast, FXCM, also publicly traded, has four Tier-1 licenses and two Tier-2 licenses, with a strong but slightly lower Trust Score of 95. Neither platform operates as a bank, ensuring they focus solely on brokerage services.

Feature	Interactive Brokers	FXCM
Year Founded info	1977	1999
Publicly Traded (Listed) info	Yes	Yes
Bank info	No	No
Tier-1 Licenses info	9	4
Tier-2 Licenses info	2	2
Tier-3 Licenses info	0	0
Tier-4 Licenses info	0	0

Fees

Interactive Brokers vs. FXCM on costs: Interactive Brokers earns 5/5 stars and ranks #2 of 63 for Commissions and Fees, while FXCM earns 4/5 stars and ranks #17 of 63. IBKR charges a small commission on top of tight, interbank quotes instead of marking up spreads (IBKR Lite and IBKR Pro support forex but are not commission-free). FXCM’s pricing, especially on its Standard account, is slightly higher than the industry average, though it offers a commission-based account and rebates for high-volume traders.

Interactive Brokers does not publish average forex spreads, but Q3 2024 data showed an average EUR/USD spread of 0.19 pips, with an effective all-in cost around 0.59 pips after commission. Commissions start at 0.2 basis points per side with a $2 minimum per order ($4 round turn), which equates to roughly 0.40 pips on a $100,000 EUR/USD trade; anything under 100,000 units feels the $2 minimum more. Very active traders can see volume discounts (down to 0.08 bps and $1–$1.50 minimums per order), and IBKR quotes $16–$40 per million round turn, aggregating prices from 17 major dealers and offering RFQ for large orders.

FXCM’s May 2024 averages on EUR/USD were 0.78 pips for Standard accounts in the EU/UK/Australia (and 1.38 pips at its St. Vincent entity). Its commission-based account averaged 0.28 pips before commission, with an effective cost near 0.74 pips after adding commissions. The Active Trader Rebate Program (not available in the UK/EU) offers $5–$25 per million in rebates starting at $10 million in monthly volume; in the UK, a $25,000 balance and $50 million per month can lower commissions to $2.50 per side ($5 round turn), leading to about 0.78 pips all-in. Spreads can widen during rollover or in volatile markets. Overall, IBKR often works out cheaper on EUR/USD, while FXCM can narrow the gap with higher trading volumes and rebates.

Feature	Interactive Brokers	FXCM
Minimum Deposit info	$0	Starts from $50
Average spread (EUR/USD) - Standard account info	0.59 info	0.9 info
All-in Cost EUR/USD - Active info	0.65 info	0.8 info
Non-wire bank transfer info	Yes	Yes
PayPal (Deposit/Withdraw) info	No	Yes
Skrill (Deposit/Withdraw) info	No	Yes
Bank Wire (Deposit/Withdraw) info	Yes	Yes

Dive deeper: Best Low Spread Forex Brokers.

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Regulated in 7 jurisdictions

Range of investments

Interactive Brokers stands out for sheer range: it lists about 8,500 tradeable symbols versus FXCM’s 440, and 90 forex pairs versus FXCM’s 46. Both brokers support forex trading via CFDs or spot contracts (availability can vary by region). Interactive Brokers also lets you buy exchange-traded securities directly on U.S. and international exchanges—think Apple (NASDAQ: AAPL) and Vodafone (LSE: VOD)—while FXCM does not offer direct stock dealing. For crypto, Interactive Brokers supports both real, delivered cryptocurrencies and crypto CFDs; FXCM offers crypto CFDs only. One area where FXCM pulls ahead is copy trading, which Interactive Brokers does not provide.

These differences show up in independent ratings: for Range of Investments, Interactive Brokers earns 5 stars and ranks #1 out of 63 brokers at ForexBrokers.com, while FXCM scores 3.5 stars and ranks #21. Choose Interactive Brokers if you want the widest product menu and the ability to buy real stocks and cryptocurrencies; choose FXCM if you prefer a simpler CFD lineup with access to copy trading.

Feature	Interactive Brokers	FXCM
Forex Trading (Spot or CFDs) info	Yes	Yes
Tradeable Symbols (Total) info	8500	440
Forex Pairs (Total) info	90	46 info
U.S. Stocks (Shares) info	Yes	No
Global Stocks (Non-U.S. Shares) info	Yes	No
Copy Trading info	No	Yes
Cryptocurrency (Underlying) info	Yes	No
Cryptocurrency (CFDs) info	Yes	Yes
Disclaimers	Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).	Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).

Dive deeper: Best Copy Trading Platforms.

Trading platforms and tools

Interactive Brokers and FXCM both check key boxes for traders who want flexible platforms and tools. Each offers a free paper trading (demo) account, a proprietary in-house platform, a Windows desktop download, and a web-based platform. You can place trades directly from charts with either broker. Key differences: FXCM supports copy trading and MetaTrader 4 (MT4), while Interactive Brokers does not. Neither broker offers MetaTrader 5 (MT5).

In independent testing by ForexBrokers.com, both Interactive Brokers and FXCM earned 5 stars for Trading Platforms and Tools. Interactive Brokers ranks #2 out of 63 brokers in this category, while FXCM ranks #4. In short, both are top-tier choices; pick Interactive Brokers if you want a highly rated in-house experience, or choose FXCM if you need MT4 and copy trading.

Feature	Interactive Brokers	FXCM
Virtual Trading (Demo) info	Yes	Yes
Proprietary Desktop Trading Platform info	Yes	Yes
Desktop Platform (Windows) info	Yes	Yes
Web Platform info	Yes	Yes
Copy Trading info	No	Yes
MetaTrader 4 (MT4) info	No	Yes
MetaTrader 5 (MT5) info	No	No
Charting - Indicators / Studies (Total) info	155	115
Charting - Trade From Chart info	Yes	Yes

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

Interactive Brokers and FXCM both deliver strong mobile trading apps for iPhone and Android. Each app supports price alerts and synchronized watchlists, so changes on mobile match your online account. Both let you draw trendlines on charts, giving traders basic tools for technical analysis on the go.

Interactive Brokers stands out for charting depth, offering 97 technical studies compared with FXCM’s 59. FXCM, however, auto-saves chart drawings, while Interactive Brokers does not—useful if you frequently annotate charts on mobile. In overall quality, Interactive Brokers earns 5 stars and ranks #4 out of 63 brokers for Mobile Trading Apps, while FXCM scores 4.5 stars and ranks #16. Choose Interactive Brokers if you want more indicators; pick FXCM if saved mobile chart drawings matter most.

Feature	Interactive Brokers	FXCM
Android App info	Yes	Yes
Apple iOS App info	Yes	Yes
Mobile Price Alerts info	Yes	Yes
Mobile Watchlists - Syncing info	Yes	Yes
Mobile Charting - Indicators / Studies info	97	59
Mobile Charting - Draw Trendlines info	Yes	Yes
Mobile Charting - Trendlines Autosave info	No	Yes

Dive deeper: Best Forex Trading Apps.

Market research

When comparing Interactive Brokers and FXCM in terms of market research offerings, both platforms provide daily market commentary and access to forex news from esteemed sources such as Bloomberg and Reuters, ensuring traders stay informed with the latest updates. Additionally, both brokers offer technical analysis tools from Trading Central, as well as sentiment-based trading tools that display the ratio of long and short positions on various instruments. They also each include an economic calendar to track global news events, essential for traders who want to align their strategies with market movements. However, a difference arises with research tools from Acuity Trading, where Interactive Brokers holds an advantage, offering access to features like Signal Centre, which is not available with FXCM.

Evaluating their research quality, Interactive Brokers receives a stellar rating of 5 stars, marking it as a top choice for in-depth market analysis. It ranks impressively as the third broker out of 63 for research on ForexBrokers.com. On the other hand, FXCM offers reliable market insights with a notable rating of 4.5 stars, securing the 11th position for research in the same review. This distinction highlights Interactive Brokers’ slightly superior standing in research offerings, making it a preferred option for traders who prioritize state-of-the-art research features and comprehensive market analysis.

Feature	Interactive Brokers	FXCM
Daily Market Commentary (Articles) info	Yes	Yes
Forex News (Top-Tier Sources) info	Yes	Yes
Autochartist info	No	No
Trading Central info	Yes	Yes
Client sentiment data info	Yes	Yes
TipRanks info	Yes	Yes
Acuity Trading info	Yes	No
Economic Calendar info	Yes	Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

Interactive Brokers vs FXCM for beginner education: both brokers publish forex and CFD education and host monthly online webinars. Each offers at least 10 beginner videos and at least 10 advanced videos, helping new traders move from basics to more complex topics. According to ForexBrokers.com, Interactive Brokers earns 5 stars for Education and ranks #1 out of 63 brokers, while FXCM scores 4.5 stars and ranks #13.

For beginners, Interactive Brokers stands out with a top-rated learning path and frequent webinars that make it easier to build skills. FXCM also delivers helpful videos and live sessions each month; it’s a solid option if you want an accessible curriculum, though its Education rank trails Interactive Brokers. In both cases, you’ll find content focused on forex and CFDs, including core concepts, strategies, and platform guidance.

Feature	Interactive Brokers	FXCM
Webinars info	Yes	Yes
Videos - Beginner Trading Videos info	Yes	Yes
Videos - Advanced Trading Videos info	Yes	Yes

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that Interactive Brokers is better than FXCM. Interactive Brokers finished with an overall rank of #2, while FXCM finished with an overall rank of #10.

Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.

Feature	Interactive Brokers	FXCM
Overall Rating info
Trust Score info	99	95
Range of Investments
Trading Fees
Trading Platforms
Research
Mobile Trading
Education

FAQs

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Overall Rating	Interactive Brokers	FXCM
Overall Rating info
Trading Fees
Range of Investments
Trading Platforms
Mobile Trading
Research
Education
Trust Score info	99	95
Winner	check_circle
Review	Interactive Brokers Review	FXCM Review

Broker Screenshots	Interactive Brokers	FXCM
Broker Gallery (click to expand) info

Regulation	Interactive Brokers	FXCM
Trust Score info	99	95
Year Founded info	1977	1999
Publicly Traded (Listed) info	Yes	Yes
Bank info	No	No
Regulated in one or more EU or EEA countries (MiFID). info	Yes info	Yes info
Tier-1 Licenses info	9	4
Tier-2 Licenses info	2	2
Tier-3 Licenses info	0	0
Tier-4 Licenses info	0	0

Tier-1 Licenses (Highly Trusted)	Interactive Brokers	FXCM
Australia (ASIC Authorised) info	Yes	Yes
Canada (CIRO Authorised) info	Yes	Yes
Hong Kong (SFC Authorised) info	Yes	No
Japan (FSA Authorised) info	Yes	No
Singapore (MAS Authorised) info	Yes	No
Switzerland (FINMA Authorised) info	Yes
United Kingdom (U.K.) (FCA Authorised) info	Yes	Yes
USA (CFTC Authorized) info	Yes	No
New Zealand (FMA Authorised) info	No	No
Regulated in one or more EU or EEA countries (MiFID). info	Yes info	Yes info

Tier-2 Licenses (Trusted)	Interactive Brokers	FXCM
Kenya (CMA Authorised) info
Israel (ISA Authorised) info	No	Yes
South Africa (FSCA Authorised) info	No	Yes
UAE (DFSA, FSRA, or SCA Authorised) info	Yes	No
India (SEBI Authorised) info	Yes	No
Jordan (JSC Authorised) info

Investments	Interactive Brokers	FXCM
Forex Trading (Spot or CFDs) info	Yes	Yes
Tradeable Symbols (Total) info	8500	440
Forex Pairs (Total) info	90	46 info
U.S. Stocks (Shares) info	Yes	No
Global Stocks (Non-U.S. Shares) info	Yes	No
Copy Trading info	No	Yes
Cryptocurrency (Underlying) info	Yes	No
Cryptocurrency (CFDs) info	Yes	Yes
Disclaimers	Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).	Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).

Cost	Interactive Brokers	FXCM
Average spread (EUR/USD) - Standard account info	0.59 info	0.9 info
All-in Cost EUR/USD - Active info	0.65 info	0.8 info
Inactivity Fee info	No	Yes
Order execution: Agency info	Yes	Yes
Order execution: Market Maker info	No	Yes

Funding	Interactive Brokers	FXCM
Minimum Deposit info	$0	Starts from $50
PayPal (Deposit/Withdraw) info	No	Yes
Skrill (Deposit/Withdraw) info	No	Yes
Bank Wire (Deposit/Withdraw) info	Yes	Yes
Non-wire bank transfer info	Yes	Yes

Trading Platforms	Interactive Brokers	FXCM
Proprietary Desktop Trading Platform info	Yes	Yes
Desktop Platform (Windows) info	Yes	Yes
Web Platform info	Yes	Yes
Copy Trading info	No	Yes
MetaTrader 4 (MT4) info	No	Yes
MetaTrader 5 (MT5) info	No	No
cTrader info	No	No

Trading Tools	Interactive Brokers	FXCM
Virtual Trading (Demo) info	Yes	Yes
Price Alerts info	Yes	Yes
Charting - Indicators / Studies (Total) info	155	115
Charting - Trade From Chart info	Yes	Yes
Charts can be saved info	Yes	Yes

Mobile Trading	Interactive Brokers	FXCM
Android App info	Yes	Yes
Apple iOS App info	Yes	Yes
Mobile Price Alerts info	Yes	Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info	Yes	Yes
Mobile Charting - Indicators / Studies info	97	59
Mobile Charting - Draw Trendlines info	Yes	Yes
Mobile Charting - Trendlines Autosave info	No	Yes
Mobile Research - Economic Calendar info	Yes	Yes

Research	Interactive Brokers	FXCM
Daily Market Commentary (Articles) info	Yes	Yes
Forex News (Top-Tier Sources) info	Yes	Yes
Autochartist info	No	No
Trading Central info	Yes	Yes
TipRanks info	Yes	Yes
Client sentiment data info	Yes	Yes
Economic Calendar info	Yes	Yes

Education	Interactive Brokers	FXCM
Webinars info	Yes	Yes
Videos - Beginner Trading Videos info	Yes	Yes
Videos - Advanced Trading Videos info	Yes	Yes

Major Forex Pairs	Interactive Brokers	FXCM
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info	Yes	Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review	Interactive Brokers Review	FXCM Review

Overall	Interactive Brokers	FXCM
Overall Rating info
Trading Fees
Range of Investments
Trading Platforms
Mobile Trading
Research
Education
Trust Score info	99	95
Winner	check_circle
Review	Interactive Brokers Review	FXCM Review