Interactive Brokers
PaxForex
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Overview
Interactive Brokers was founded in 1977 and is headquartered in United States, while PaxForex was established in 2011 and is based in Saint Vincent and the Grenadines. 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 PaxForex is regulated by Financial Services Authority (FSA) among others. Interactive Brokers serves 1,000,000+ clients worldwide; PaxForex has 350+. The minimum deposit is $1 at Interactive Brokers and $10 at PaxForex.
| Feature | Interactive Brokers | PaxForex |
|---|---|---|
| Min. Deposit | $1 | $10 |
| 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 Services Authority (FSA), Registration Number 21973 IBC 2014 1825 |
| Founded | 1977 | 2011 |
| Country | United States | Saint Vincent and the Grenadines |
| Clients | 1,000,000+ | 350+ |
Fees
Fees are a critical factor when choosing between Interactive Brokers and PaxForex, directly affecting your bottom line as a trader. Interactive Brokers has a lower barrier to entry with a minimum deposit of $1 (vs $10 at PaxForex). Both brokers charge withdrawal fees. PaxForex charges deposit fees; Interactive Brokers does not. The two brokers are broadly comparable on fee structure.
| Feature | Interactive Brokers | PaxForex |
|---|---|---|
| Min. Deposit | $1 | $10 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | Yes | No |
Platforms
Interactive Brokers offers MT4, MT5, cTrader, a proprietary platform, while PaxForex 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 | PaxForex |
|---|---|---|
| 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 | Web, iPad, mac, Desktop, iPhone iOS |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Interactive Brokers and PaxForex 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 | PaxForex |
|---|---|---|
| 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 PaxForex supports 4 (bank transfer, credit/debit card, Skrill, Neteller). PaxForex uniquely supports Skrill and Neteller among the two brokers. PaxForex scores higher on deposit and withdrawal flexibility.
| Feature | Interactive Brokers | PaxForex |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| 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 PaxForex offer live chat support. Both provide phone support. Email support is available at both brokers. Interactive Brokers supports 2 languages and PaxForex supports 15, giving PaxForex broader global reach. Both brokers are comparable on support quality.
| Feature | Interactive Brokers | PaxForex |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian |