Page Summary
Interactive Brokers and FXCM are leading online brokers with impressive trading experiences. Interactive Brokers offers competitive fees and a minimum deposit of $0. It has a proprietary platform and a professional app. Interactive Brokers is a highly-regulated broker with licenses from the IIROC, FINMA, SFC, FSA, FCA, MAS, and CFTC. It is a top choice for active traders who want access to premium tools.
FXCM is a leading forex broker with both professional and beginner-friendly tools. It has an excellent education portal with forex education topics. FXCM offers professional research tools and MT4. It is a trustworthy broker with licenses from the IIROC, ASIC, and FCA. It is a good choice for both new and experienced traders.
Both brokers have strengths and weaknesses. This article discusses the differences between Interactive Brokers and FXCM.
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Interactive Brokers
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
FXCM
BROKER COMPARISON
Trading Platform & Tools
| Automated Trading | ||
| Charting Tools | ||
| Conditional Orders | ||
| cTrader | ||
| Demo Account | ||
| Desktop Platform | ||
| Max Leverage | 1:20 | 1:400 |
| MetaTrader 4 (MT4) | ||
| MetaTrader 5 (MT5) | ||
| Mobile Version | ||
| Mutual Fund Management | ||
| Proprietary Platform | ||
| Social/Copy Trading | ||
| Trading Alerts | ||
| Trading signals | ||
| Watchlist | ||
| Web Version |
Fees
| Withdrawal Fee | 0 | $40 |
| Deposit Fee | 1% | 0 |
| Inactivity Fee | 0 | $50 per year after 12 months |
| Cost Per Trade | 0 | 0 |
| Cost Per Month | 0 | 0 |
| Forex (EUR/USD) | 0.2 pips + 0.08 to 0.20 bps times trade size comission | 0.2 pips |
| Stocks & ETF | $ 0.005 per share | 0 |
| CFD (Gold) | 0.02% | 0.5 pips |
| Crypto | 0.12% to 0.18% of trade value | 0 |
| Options | 0 | |
| Conversion Fees | 0 | 0 |
| Misc. Fees | 0 | 0 |
| Overnight Fees | Yes on CFD’s |
Deposit & Withdrawal
| Minimum deposit (in UAE) | $0 | $300 |
| Bank Wire | ||
| Credit/Debit Card | ||
| Cash | ||
| Check | YES from US bank account | |
| Islamic Account Transfer | ||
| E-payments | ||
| Paypal | ||
| Skrill | ||
| Neteller |
Assets
| Shares | 16.500 | 0 |
| ETF & Funds | 35.000 | 0 |
| Crypto | 4 | 0 |
| Commodities | 1 | 0 |
| Indices | 3052 | 0 |
| Options | 50.000 | 0 |
| Futures | 245 | 0 |
| Bonds | 1.000.000 | 0 |
| Forex Instruments | 115 | 45 |
| CFD Indices & Funds | 13 | 15 |
| CFD Stocks | 8.000 | 219 |
| CFD Commodities | 2 | 12 |
| CFD Crypto | 0 | 7 |
| CFD Bonds | 0 | 1 |
| Binary Options | 0 | 0 |
| SWAPS | 0 | 0 |
| Saving Plans | 0 | 0 |
Research & Education
| Webinars | ||
| Educational Resources | ||
| Daily News Updates | ||
| Market Indepth Analysis | ||
| Pers. Training & Room | ||
| Market Research |
Customer Support
| Phone | ||
| Live Chat | ||
| 24/7 support | ||
| Multilingual | ||
| Personal Account Manager |
Winner
Top findings from the Interactive Brokers vs. FXCM review:
- Interactive Brokers has premium platforms and trading tools.
- FXCM is a versatile broker with multiple desktop interfaces and social trading features.
- Both brokers offer a demo account, a proprietary platform, and an active trader discount.
We recommend Interactive Brokers to traders who want to improve their trading knowledge. FXCM is a better choice for new traders as it has a dedicated learning center.
Level of experience
Interactive Brokers is an excellent fit for professionals. It offers access to Trading Central and premium tools. It has some educational tools, including webinars. Interactive Brokers has a virtual trading account to test its platforms.
FXCM offers many platforms designed to match different trading styles. It provides an educational portal for beginners and some research tools. FXCM has forex education and beginners and advanced trading videos. It is a good fit for new traders and forex traders.
Fees
The minimum initial deposit at Interactive Brokers is $0, while the initial deposit at FXCM starts between $50-£300. Both brokers offer an active trader discount.
Assets
Interactive Brokers offers 105 forex currency pairs, while FXCM has 39 available pairs. Interactive Brokers has 7400 CFDs, while FXCM has 82 available CFDs.
Trading platform
Interactive Brokers has a premium trading experience with desktop and web platforms. It offers some educational materials, including webinars and professional trading videos. Interactive Brokers is a good choice for all traders who want to improve their trading knowledge.
FXCM has a proprietary platform, Trading Station, and MetaTrader4. It offers advanced tools and technical indicators. FXCM is a good fit for beginners, as it provides a dedicated learning center. This broker has access to third-party market data and daily technical levels.
Banking services
Banking services contribute to an excellent online trading experience. Interactive Brokers offers as its funding option bank transfers. FXCM has bank transfers, credit/debit cards, and Skrill.
Final verdict
Interactive Brokers and FXCM are leading online brokers. Both have strengths and weaknesses depending on your trading needs and experience. We recommend Interactive Brokers to professionals because of its premium services. FXCM is a better fit for new traders, as it has an excellent learning center.
Interactive Brokers compared to other brokers: