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
best and most comprehensive products suit
Best execution, Most comprehensive list of products available. Very cheap brokerage, Excellent customer service.
Super professional
Ease of use, clear terms and conditions, perfect execution
Exceptional Trading Platform
Multiple trading platforms, a wide range of both US and International products, efficient back-end operations, and competent KYC
Easy and clear online platform
The best online platform I have tried in use in the uae.
Best trading and investing platform
Fast, transparent and effective platform
Good investment platform
has global presence, trusted broker and lot of research analysis, options and tools within the platform
Smooth
I have been trading over the last 1 year with IBR and It has been a smooth experience so far.
Class
Very proffessional and efficient
Efficient
Its analysis and order transmission platform is highly intuitive and facilitates efficient operation, thereby avoiding unnecessary costs.
The most versatile platform
I have used Interactive brokers for four years now. It has offered every thing to allow me to invest for the long-term. I have never felt pressured to be pulled in and trade on a whim or gamble my money away. The platform is informative even if it is hard to navigate sometimes. I have never felt limited by the offerings they provide and never had a reason to doubt the safety of my account and money
Advanced, Comprehensive, and Easy to Use
I have used four online brokers before. Interactive Broker is by far the best on several grounds where others have failed. In no particular order, the following are the reasons why I prefer Interactive Brokers:
1. Clarity of information: Anything I need to know about a company or my positions in it, I can see or otherwise find easily
2. Comprehensive coverage: Any instrument I look for, they have it
3. Inexpensive: Commissions are reasonable
4. Easy to use: Be it the website platform or the more advanced software or the mobile app, the platform is easy to use for trading, observing, reporting, and satisfying KYC and compliance requirements
5. Straightforward and comprehensive external interfacing - from sending cash in or out to interaction with accounts with other brokers, it is easy to use, secure, and fast
Small commission, good application, nice unterface
I use IB for last three years and there were no any issues that I can notice while investing.
Continuous legacy
The best investment platform in the world
Best platform
Low cost, FIDC insured, multi-product, user-friendly platform
Global market access for all
A suite of professional-level financial products and services is now accessible to all participants, eliminating legacy intermediaries and saving customers on fees.
great
No problem since 2022.
Simple & Robust
Excellent platform, consistently delivering day in day out.
Easy to operate
I find IBKR website easy to operate and review my holdings. The App is also friendly and easy to use.
Best professional broker
For me IBKR is the most reliable and most professional broker in the market. Real access to all exchanges worldwide. Supply of real assets and market data, not just funny CFD copies and inhouse pricing like so many fake brokers out there. Very low fees. Wide range of powerful trading platforms supplying even professionals with all the necessary functionality, workflows and customization options.
Best international trading firm
Platform is user friendly and provide in-depth analysis of the companies.
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.
