FXCM
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77% of retail CFD accounts lose money.

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Interactive Brokers
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Investing in financial products involves taking risk.

FXCM Vs. Interactive Brokers - Compare and Choose the Right One

Updated Sep 14 2022

Visit

77% of retail CFD accounts lose money.

Visit

Investing in financial products involves taking risk.

Overview

FXCM is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering.

TheTradingBible.com is acting in a capacity of a marketing affiliate of FXCM EU LTD.

Interactive Brokers is a global brokerage founded in 1978 that holds 11+ high tier financial licenses and provides discounted electronic trading services in nearly all the globe with access to more than 100,000+ financial instruments.

Best For
  • Professional algorithmic traders looking to benefit from their comprehensive API offering 
  • Seasoned investors looking for a one-stop shop to cover a variety of needs
  • Global investors who seek the most reliable discount service available
  • Traders from intermediate to advanced level
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

2

Other Licenses

2

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

10

Other Licenses

1

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • ASIC (Australia)
  • CySec (Cyprus)
  • FCA (United Kingdom)
  • FSCA (South Africa)
  • SEC (United States)
  • FINRA (United States)
  • FCA (United Kingdom)
  • ASIC (Australia)
  • IIROC (Canada)
  • MNB (Hungary)
  • BSE (India)
  • CBI (Ireland)
  • FSA (Japan)
  • CSSF (Luxembourg) CSSF
  • MAS (Singapore)
The Good
  • Comprehensive API offering with a variety of conditions and programming languages at no additional cost
  • Proprietary platform (Trading Station)
  • High regulation
  • Exceptional number of investment instruments (Above 100,000+)
  • Competitive discount fees
The Bad
  • Lack of asset variety in their offering (over 300+ financial instruments)
  • Costly spreads when compared to similar competitors
  • Complicated account opening process
  • Platforms are not beginner friendly
  • Narrow choice of deposit options (Mostly bank transfer)
Status
Operational Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

Key Data
⌛ Account Opening Time
1 Day 1 - 3 Days
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

📍 Year Founded
1999 (FXCM Group) 1978
💳 Minimum Deposit
€, £, $ - 50 (Varies by payment method) $ - 0
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill

Skrill and Neteller are not available to FXCM EU clients at the moment

  • Bank Transfer
  • ACH (US only)
  • Check (US only)
  • Debit Card (US only)
  • BPAY (Australia only)
💵 Account Base Currencies
4 - EUR GBP, USD, CHF. 23 - USD, EUR, GBP, AUD, CAD, CHF, CNY, CZK, DK, HKD, HUF, INR, ILS, JPY, MXN, NZD, NOK, PLN, RUB, SGD, ZAR, KRW, SEK
🗽 Available to U.S Citizens
No Yes
❌ Restricted Countries
RU, US, CA, JP, SK and more. AF, SY, SO, SD, LY, NG, BI.
📊 STP Account
No Yes
📊 DMA Account
No Yes
📊 ECN Account
No Yes
Assets
📚 Available Assets

CFDs on stocks, currencies, commodities, cryptocurrencies and indices

  • Real stocks, currencies, ETFs, options, futures, bonds, cryptocurrencies
  • CFDs on almost every possible asset class
  • Structured Products
📙 Stocks
200+ 78 markets
📘 Currency Pairs
41 105
📗 Commodities
11 35 markets
📕 Indices
16 13
📔 ETFs
N/A 13,000+
💸 Cryptocurrencies
17 (Not for UK Clients) 4
📒 Bonds
N/A 60,000+
📓 Options
N/A 33 markets
📗 Futures
N/A 32 markets
📝 Notes:
All of FXCM's assets are CFDs.

Interactive brokers provides real assets (equities) from more than 100+ markets (exchanges) across the world and also provides CFDs (in allowed regions).

Trading Experience
📈 Minimum Stock Trade Size
1 share

From 1 share - except for exchanges that allow fractional trading (US stock exchanges)

📉 Minimum ETFs Trade Size
N/A N/A for EU Citizens
📈 Minimum Crypto Trade Size
1 unit of any cryptocurrency

No minimum, but minimum fee is $1.75 per order

📉 Minimum FX Trade Size
$1000 (0.01 Lots) $25,000 (0.25 lots)
📈 Minimum Commodities Trade Size
Varies by Commodity (Eg: 1 Troy ounce of Gold) Varies per commodity (eg: 1 Ounce of Gold)
📉 Minimum Bonds Trade Size
N/A $1,000 for corporate/muni bonds, $1 million for treasury bonds
📈 Minimum Futures Trade Size
N/A 1 contract
📉 Minimum Options Trade Size
N/A 1 contract
💪 Retail Leverage
Up to 1:30 Up to 1:30
💪 Professional Leverage
Up to 1:500 (Varies) N/A
✍ Customisable Leverage
No No
🎲 Deleveraged Trading
No Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes No
📺 MetaTrader 5
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes No
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes No
👫 Social Trading
Yes No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
Yes Yes
Fees
💰 Inactivity Fee

50 units of the account's base currency yearly after 1 year of inactivity.

No
💰 Deposit Fees
No No
💰 Withdrawal Fees

Yes on bank transfer withdrawals depending on location (from $10 to $40 on local currency).

One free withdrawal per month, subsequent are $10 per withdrawal or equivalent

💰 Commissions
No

Commissions depend on market and residency:

  • US residents are eligible for zero commission US stock trading. Else, for US stocks it is $0.005/share with a minimum $1 and maximum 1% of the trade value.
  • European stocks have €3 minimum and 0.05% trade value.
  • Forex commissions are volume based starting at 0.20 basis points of trade value or $2 minimum per trade, and going low as 0.08 basis points and $1.
  • Options start at $0.25 per contract and go as low as $0.15 per contract.
  • Futures start at $0.85 per contract and go as low as $0.25 per contract
Spreads
📈 EUR/USD
From 1.2 Pips (As per our research) Dynamic - From 0.1 pips
📉 SP500
Dynamic - From 58 Pips (As per our research) Dynamic - From 1 Pip
📈 GOLD
Dynamic - From 41 Pips (As per our research) N/A
📉 TSLA (Stock CFD)
Dynamic - From $1.04 (As per our research) Dynamic - From $0.50
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
Dynamic - From $51 (As per our research) N/A
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No Yes
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes Yes
📡 Reuters Feed
No Yes