Interactive Brokers
mgk global
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Overview
Interactive Brokers was founded in 1977 and is headquartered in United States, while mgk global was established in 2011 and is based in Cayman Islands. 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 mgk global is regulated by Financial Conduct Authority (FCA) among others. Interactive Brokers serves 1,000,000+ clients worldwide; mgk global has 10,000+. The minimum deposit is $1 at Interactive Brokers and $250 at mgk global.
| Feature | Interactive Brokers | mgk global |
|---|---|---|
| Min. Deposit | $1 | $250 |
| 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), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F278 |
| Founded | 1977 | 2011 |
| Country | United States | Cayman Islands |
| Clients | 1,000,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Interactive Brokers and mgk global, directly affecting your bottom line as a trader. Interactive Brokers has a lower barrier to entry with a minimum deposit of $1 (vs $250 at mgk global). Both brokers charge withdrawal fees. mgk global charges deposit fees; Interactive Brokers does not. Overall, Interactive Brokers scores higher on fees in our assessment.
| Feature | Interactive Brokers | mgk global |
|---|---|---|
| Min. Deposit | $1 | $250 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | Yes | Yes |
Platforms
Interactive Brokers offers MT4, MT5, cTrader, a proprietary platform, while mgk global supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Interactive Brokers supports social and copy trading features, which mgk global does not offer. Interactive Brokers edges ahead on platform breadth and functionality in our scoring.
| Feature | Interactive Brokers | mgk global |
|---|---|---|
| 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, MT5, Mac, ZuluTrade, Web Trader, cTrader, 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 mgk global compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. The two brokers are evenly matched on educational content.
| Feature | Interactive Brokers | mgk global |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| 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 mgk global supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). mgk global uniquely supports PayPal and Skrill and Neteller among the two brokers. mgk global scores higher on deposit and withdrawal flexibility.
| Feature | Interactive Brokers | mgk global |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
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 mgk global offer live chat support. Both provide phone support. Email support is available at both brokers. Interactive Brokers supports 2 languages and mgk global supports 8, giving mgk global broader global reach. Both brokers are comparable on support quality.
| Feature | Interactive Brokers | mgk global |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |