FXCMvs
Interactive BrokersForex Broker Comparison
FXCM and Interactive Brokers face off on regulation, pricing, and platform ecosystems. The duel centers on cost efficiency and market breadth across global venues.
Our Verdict
Interactive Brokers winsby 0.5 pts
Interactive Brokers is the overall winner on editorial score, driven by stronger regulation and access to 17,000 instruments with raw spreads compared with FXCM.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1FXCM offers around 400 instruments; Interactive Brokers lists about 17,000.
- 2Interactive Brokers offers raw spreads; FXCM does not.
- 3FXCM supports MT4/MT5; Interactive Brokers does not.
Who should choose FXCM vs Interactive Brokers?
Find out which broker best suits your trader profile.
Choose FXCM if…
Choose FXCM if you want MT4 support and a FCA-regulated environment with strong API options.
Choose Interactive Brokers if…
Choose Interactive Brokers if you need global market access and the lowest margin rates.
Verdict by Trader Profile
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Best for low cost trading
Recommended
Interactive Brokers offers tighter spreads from 0.20 pips vs 0.40 pips for FXCM, reducing trading costs.
Best for safety & regulation
It’s a tie
Both equally suited
FXCM vs Interactive Brokers: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.1/ 5 | 4.6/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.1 / 5 | 4.8 / 5▲ |
FXCM vs Interactive Brokers Forex Broker Pros & Cons
Pros
Strong APIs (REST, FIX)
Trading Station + MT4
FCA regulated
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
FXCM vs Interactive Brokers: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
2
FXCM
criteria wins
2
Interactive Brokers
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | FXCM | Interactive Brokers |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Pass | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Fail | Pass |
| No deposit fee | Pass | Pass |
| No inactivity fee | Fail | Pass |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Fail |
| Proprietary platform | Pass | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Fail |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
FXCM vs Interactive Brokers: Frequently Asked Questions
Interactive Brokers rates 4.6/5 versus 4.1/5 for FXCM. Interactive Brokers edges ahead on our composite score, though both brokers meet a reasonable standard for most traders.
Interactive Brokers starts from 0.2 pips, tighter than FXCM's 0.4 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
Interactive Brokers has no minimum deposit, while FXCM requires at least $50. This makes Interactive Brokers more accessible for traders with limited starting capital.
Both FXCM and Interactive Brokers hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners, two factors stand out: Interactive Brokers has no minimum deposit, removing the capital barrier entirely, and both brokers provide negative balance protection. Also compare demo account availability and educational resources before deciding.
FXCM lists maximum leverage of 400:1, while Interactive Brokers lists up to 50:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
Interactive Brokers charges $2 per lot on commission-based accounts. Commission details for FXCM are not currently available. Check their website for up-to-date pricing.
FXCM supports ZuluTrade, Proprietary Web/Mobile, MetaTrader 4, NinjaTrader, while Interactive Brokers supports Trader Workstation (TWS), Proprietary Web/Mobile. Both provide Proprietary Web/Mobile. FXCM has exclusive access to ZuluTrade and MetaTrader 4 and NinjaTrader. Interactive Brokers has exclusive access to Trader Workstation (TWS).
