59.7% of retail investor accounts lose money when trading CFDs with this provider
- Experts rate the Interactive Brokers Forex Trading Platform highly, noting its advanced features suitable for both experienced and beginner traders. The platform offers a wide range of FX pairs and low commission on raw prices, although it lacks guaranteed stops and spread betting options. Overall, it receives a strong total rating of 4.6/5, with particularly high scores for pricing and platform usability.
- Across 1375 user reviews on Good Money Guide, averaging 4.6/5, customers frequently highlight the platform's low costs, broad market access, and advanced trading tools. Many users appreciate the user-friendly interface and efficient execution of trades. However, some reviews mention challenges with customer service responsiveness, indicating room for improvement in support.
Interactive Brokers Forex Trading Platform Expert rating
Our expert rating is the average of the areas listed here, each scored out of 5 by our team.Our experts have rated Interactive Brokers Forex Trading Platform across five key areas of our review framework.
- Pricing5.0
- Market Access4.5
- App & Platform5.0
- Customer Service4.0
- Research & Analysis4.5
Pros
- Lots of FX pairs
- Excellent forex trading platform
- Low commission on raw prices
Cons
- No guaranteed stops
- No spread betting
See full expert review
Our verdict
Interactive Brokers is by far the most advanced forex broker we feature if you need it to be. Interactive Brokers is one of the best forex trading platforms for advanced and experienced traders but is also simple enough to be used by beginners who want to stick with one brokerage as they progress.
59.7% of retail investor accounts lose money when trading CFDs with this provider
Is Interactive Brokers good for forex trading?
Yes, IBKR has two different forex trading platforms, IBKR Trader Workstation for advanced traders, which comes with some very complete order routing tools for larger orders. The Interactive Brokers web portal platform is much more suited to more casual forex traders and lets you go long or short currency pairs based on position size rather than lots by placing limit, and market entry orders and you can set your stop and limited exit orders based on P&L rather than price.
It’s also worth noting that if you want to trade margin products with Interactive Brokers you need at least $2,000 in your account.
Customer reviews for Interactive Brokers
Customer ratings come from reviews left on this site. Every review is read and approved before it is published.Based on 1,375 reviews
- Excellent74%
- Very good14%
- Basic7%
- Poor2%
- Bad2%
Read customer reviews
My best experience
Streamlined and efficient
Best platform
I have been working in private banking for many years, and I can confidently say that this is the best investing platform I have come across. The combination of competitive fees and outstanding service truly sets it apart. In fact, the overall experience is superior to what some private banks are currently offering.
Very good User Interface
The Mobile & Desktop Apps are extremely user friendly. The data on each stock/listing is extensive and further filters/cuts can be added to have the desired view. The statements provide a detailed overview of activity and MTM report.
Excellent trading platform
During my more than 7 years of experience trading US stocks and ETFs with different 8 brokers I have yet to come across a broker that would top Interactive Brokers. I hope they keep up the good work.
The best broker ever
I have been a client of Interactive Brokers for more than 7 years now. I am a raving fan of their services. As a long-term investor I am more than satisfied with all the aspects of their work.
Great
Great
Best trading platform
The platform that I have been using since 2021
Best in Class
great prices, great selection on global markets and access - app could be more user friendly
Excellent platform
Using IB for more than 10 years and during this time I find it an excellent platform for the non-expert trading user
Best and Rich Trading Platform
Best and Rich Trading Platform in terms of costs and usability
top and easy App
Very smooth app, has two apps, the older one with all the information or a newer one which has a better UI, more updated etc.
Smooth, runs good, best fx exchange rates, can't complain at all
security
security and low rates
The best broker
Great broker, low fees, many options for traders.They give good interest on the money kept on the account,way more than competitors. Never had a problem with them,I use many brokers but Interactive brokers is the best for me.
Excellent and affordable trading platform
An industry powerhouse best suited for experienced and active traders who need institutional-grade tools and access to global markets. Its strength lies in low costs, superior trade execution, and an incredibly wide range of tradable assets, including stocks, options, futures, forex, and more, across numerous countries.
Best platform
Investing regularly in S&P works very well
Intuitive, informative and Economic value add
I have found this platform easy to use, trustworthy, informative each and every time I've used it. I would recommend to to anyone who is looking to invest privately.
Easy and efficient
Really helpful platform with easy layout and clear investment options
Best platform for investing in US equities
Definitely worth a recommend. Seemless in transactions both deposit and withdrawals. Very transparent and quick. No hiccups since I've started using this service.
IB
Best investing website
Review of services provided by Interactive Brokers
Execution : excellent
Brokerage : low
Support: prompt, knowledgeable, courteous and above all, helpful
Payout: quick and easy
You can trade currency futures and forex options on Interactive Brokers, despite IBKR does not position itself as a forex trading platform, it actually has exceptional foreign exchange capabilities.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
