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

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.

• 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

• 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)

• 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

• 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)

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• 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.

• 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)

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

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

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

No minimum, but minimum fee is $1.75 per order

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

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 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