Interactive Brokers
IronFX
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
Interactive Brokers was founded in 1977 and is headquartered in United States, while IronFX was established in 2010 and is based in Cyprus. Interactive Brokers holds licences including the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, while IronFX is regulated by Financial Conduct Authority (FCA) among others. Interactive Brokers serves 1,000,000+ clients worldwide; IronFX has 10,000+. The minimum deposit is $1 at Interactive Brokers and $500 at IronFX.
| Feature | Interactive Brokers | IronFX |
|---|---|---|
| Min. Deposit | $1 | $500 |
| Regulation | the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. Is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Is regulated by the Central Bank of Ireland (CBI, reference number C423427). Is licensed and regulated by the Central Bank of Hungary (Magyar Nemzeti Bank) under no. H-EN-III-623/2020. Is regulated by the Hong Kong Securities and Futures Commission. Is a member of NSE, BSE, SEBI. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Is regulated by Kanto Local Finance Bureau (Registration No.187). Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917). | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC) |
| Founded | 1977 | 2010 |
| Country | United States | Cyprus |
| Clients | 1,000,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Interactive Brokers and IronFX, directly affecting your bottom line as a trader. Interactive Brokers has a lower barrier to entry with a minimum deposit of $1 (vs $500 at IronFX). Interactive Brokers charges withdrawal fees while IronFX does not, a notable advantage for frequent withdrawers. IronFX charges deposit fees; Interactive Brokers does not. Overall, Interactive Brokers scores higher on fees in our assessment.
| Feature | Interactive Brokers | IronFX |
|---|---|---|
| Min. Deposit | $1 | $500 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | Yes | Yes |
Platforms
Interactive Brokers offers MT4, MT5, cTrader, a proprietary platform, while IronFX supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. Interactive Brokers edges ahead on platform breadth and functionality in our scoring.
| Feature | Interactive Brokers | IronFX |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Web Trader, NinjaTrader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Interactive Brokers and IronFX compare. Interactive Brokers runs regular live webinars; IronFX does not. Both provide video tutorials. Interactive Brokers publishes daily market commentary; IronFX does not. Both integrate third-party research tools. Interactive Brokers maintains an archive of past webinars for on-demand viewing. Interactive Brokers scores higher overall in education and research.
| Feature | Interactive Brokers | IronFX |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Interactive Brokers accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while IronFX supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Interactive Brokers | IronFX |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Interactive Brokers and IronFX offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | Interactive Brokers | IronFX |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |