Compare Brokers
We help you pick the best broker for your needs with our broker comparison tool. Select 2 brokers and see exactly what makes them different.
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Interactive Brokers
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XM
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Interactive Brokers (IBKR) is a top brokerage firm offering access to 150 markets in 33 countries and a range of investment services. With 40 years in the field, this company listed on Nasdaq strictly follows the rules set by authorities such as the SEC, FCA, CIRO, and SFC. It's recognized as one of the most reliable brokers for global trading. | XM is a global forex and CFD broker with over 15 million clients in more than 190 countries. Since 2009, it has offered low trading fees on over 1000 instruments. The broker is well-regulated by authorities such as ASIC, CySEC, DFSA, and SCA in the UAE, and provides a full MetaTrader experience. | |
| Instruments | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies, CFDs Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies | CFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies |
| Demo Account | ✓ | ✓ |
| Minimum Deposit | $0 | $5 |
| Trading Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower | MT4, MT5, TradingCentral |
| Payment Methods | ACH Transfer, Automated Customer Account Transfer Service, Cheque, Debit Card, TransferWise, Wire Transfer | Apple Pay, Credit Card, Debit Card, Google Wallet, M-Pesa, Neteller, Perfect Money, Skrill, TransferWise, Visa, Wire Transfer |
| Minimum Trade | $100 | 0.01 Lots |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM | CySEC, DFSA, SCA, FSCA, FSA, FSC Belize, FSC Mauritius, CMA |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF | USD, EUR, GBP, JPY |
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| Mobile Apps | iOS & Android | iOS, Android & Windows |
| App Review | The IBKR Mobile app for iOS and Android allows you to access your IBKR accounts, monitor portfolios, execute trades, and view real-time quotes and charts. Its user-friendly design is ideal for new traders, offering a simpler experience compared to the more complex TWS platform. | provides a mobile app for Android and iOS, optimized for each platform. The app offers MT4 and MT5 software, giving full access to over 1,400 instruments. It is reliable with minimal glitches or delays. Features like built-in news, a trading journal, and push notifications provide all necessary trading tools. |
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| Margin Trading | ✓ | ✓ |
| Margin Rate | 1.55 - 2.59% | 0.2% |
| Account Types | STP, DMA, MAM, Demat | STP |
| AI / Machine Learning | ✓ | ✓ |
| Robo Advisor | ✓ | ✗ |
| Negative Balance Protection | ✓ | ✓ |
| Market Maker | ✗ | ✓ |
| P2P Trading | ✗ | ✗ |
| Spot Trading | ✓ | ✓ |
| Auto Trading | Capitalise.ai, TWS API | Expert Advisors (EAs) on MetaTrader |
| Copy Trading | ✗ | ✓ |
| Copy Trading Platform | XM provides copy trading through its user-friendly app, featuring exclusive crypto pairs. XM global also offers a built-in signals service on the MT5 platform. Traders can access detailed performance metrics and replicate the trades of strategy managers. The setup is straightforward, requiring just a few steps after logging into your MQL5 community account. | |
| Social Trading | ✗ | ✓ |
| Trade Signals | ✓ | |
| VPS Hosting | ✗ | ✓ |
| Tournaments | ✗ | ✓ |
| Demo Competitions | ✗ | ✓ |
| Ethical Investing | ✓ | ✗ |
| Custodial Account | ✗ | ✗ |
| Guaranteed Stop Loss | ✗ | ✗ |
| Inactivity Fee | $0 | $5 |
| Islamic Account | ✗ | ✓ |
CFD Trading | ||
Over 8,000 CFDs on various stocks, indices, forex, and commodities are offered. The TWS platform is ideal for experienced traders, providing a wide range of over 100 order types and algorithms, as well as premier market data from top sources like Reuters and Dow Jones. | XM provides CFD traders with flexible leverage and a wide range of markets, including custom indices for sectors like artificial intelligence. The MT4/MT5 platforms are fast and reliable, and traders using algorithmic strategies can access a free VPS. | |
| Leverage | 1:50 | 1:10001:30 |
| FTSE Spread | 0.005% (£1 Min) | 1.4 |
| GBPUSD Spread | 0.08-0.20 bps x trade value | 0.8 |
| Oil Spread | 0.25-0.85 | 0.03 |
| Stocks Spread | 0.003 | 0.002 |
Forex Trading | ||
IBKR offers more than 100 varieties of major, minor, and exotic forex pairs, exceeding the options provided by most competitors, except for CMC Markets. Forex trading happens across numerous platforms and features spreads from 0.1 pips, which are of institutional quality. It supports 20 types of complex orders like brackets, scale, and one-cancels-all (OCA) orders. | XM provides a wide range of currency pairs without re-quotes or hidden fees. Spreads have decreased over time, starting at 0.8 pips on the EUR/USD in the commission-free account. | |
| GBPUSD Spread | 0.08-0.20 bps x trade value | 0.8 |
| EURUSD Spread | 0.08-0.20 bps x trade value | 0.8 |
| EURGBP Spread | 0.08-0.20 bps x trade value | 1.5 |
| Assets | 100+ | 55+ |
| Currency Indices | USD | |
Cryptocurrency Trading | ||
IBKR allows you to buy and retain Bitcoin, Bitcoin Cash, Ethereum, and Litecoin with low commission fees and no need for a crypto wallet. You can also explore additional assets such as crypto indices, including the NYSE Bitcoin Index, and futures contracts like the BAKKT Bitcoin Futures. | XM offers a few cryptocurrencies against the USD through its South African entity. These can be traded as CFDs with leverage up to 1:500, increasing both potential returns and losses. You can trade major tokens like Bitcoin, Ethereum, and Ripple, but there are fewer tokens compared to over 120 crypto derivatives at Eightcap. | |
| Crypto Spread | 0.12%-0.18% | Variable |
| Crypto Coins | BTC, LTC, ETH, XRP | BTC, ETH, LTC, XRP, BCH |
| Crypto Lending | ✗ | ✗ |
| Crypto Mining | ✗ | ✗ |
| Crypto Staking | ✗ | ✗ |
| Auto Market Maker | ✗ | ✗ |