- Experts highlight Interactive Brokers as a leading forex broker in the US, commending its low dealing fees, direct market access, and a wide range of order types. The platform is noted for its competitive spreads and advanced trading features, although some concerns were raised about the speed of customer service.
- Across 1375 user reviews on Good Money Guide, averaging 4.6/5, customers frequently praise the platform's low costs, extensive market access, and advanced trading tools. Many users appreciate the user-friendly interface and efficient execution, while some express frustration with the responsiveness of customer support.
Interactive Brokers US Forex Trading 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 US Forex Trading across five key areas of our review framework.
- Pricing5.0
- Market Access5.0
- Online Platform5.0
- Customer Service4.0
- Research & Analysis5.0
Pros
- Very low dealing fees
- Wide market range
- Direct market access
- Complex order types
Cons
- Customer services can be slow
See full expert review
Our verdict
Interactive Brokers has been offering forex trading services in the US since their inception in 1978. As a pioneer in the industry, Interactive Brokers has established itself as a reputable and reliable broker for forex trading, offering competitive spreads, advanced trading platforms, and a wide range of currency pairs to trade. Over the years, Interactive Brokers has continued to enhance its forex trading offerings, incorporating advanced technology and features to meet the evolving needs of traders.
Can you trade forex with Interactive Brokers in the US?
Yes, you can trade currency futures with direct market access and currency options on the Interactive Brokers trading platforms.
Interactive Brokers is a great forex broker for those who want to trade on exchange currency contracts rather than spot FX.
Through IBKRs FXTrader you get interbank quality FX spreads, the ability to trade spot alongside on-exchange futures and over 20 forex order types like trailing stops to lock in profits if a position is going your way, OCO and scaled execution for large orders.
IBKR US Address: Interactive Brokers LLC, One Pickwick Plaza, Greenwich, CT 06830, United
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
Useful
Useful overview of Interactive Brokers’ strengths and trade-offs: low costs, broad global market access, and advanced tools stand out, while platform complexity and slower customer support for some smaller clients are worth considering. The article’s 4.6/5 customer rating is helpful context alongside the risks of CFD trading. More details are available in the Bestecision review: https://bestecision.com/review/interactive-brokers-review
good
information
Yes, I'm just wait to see how they perform
Digital Crypto currency, stock exchange, trading and stock market
Informative
All the information is so easily accessible for beginner investors like myself.
Simple & Best Price
Nice Interface and very good Prices in General...also easy to use.
Excellent
Excellent mobile platform for trading global markets
Complete
Very broad, stable and cost efficient
Value
They provide a comprehensive service, which they are constantly improving and enhancing. Excellent value for money and sophisticated functionality. I'm constantly finding new resources to help with my investment decisions and risk management.
Quickly & easy
Answer/ trasnfers
Best
Fast and easy execution
professional
great value for money
Outstanding
The level and quality of service is above and beyond any other 'broker' operating in the UK. Most others call themselves brokers but don't have direct market access and so are, in reality, merely platforms: agents that push orders to other brokers. The result is a poor service, bad execution quality and a negative impact on investment returns. Additionally, the Interactive Broker platform is in a league of its own.
If you want an analogy, Interactive Brokers is like driving a Ferrari, while the competition are still using bicycles!
Reliable
Is reliable and diversified
Professional
Customer support is excellent. The app are clunky but work well. I used them for personal investments.
World class trading
'- Multi-currency account
- Worldwide trading
- Sophisticated 24h real-time trading system
- Easy to use client interface
- FX trading
- Favorable fees, commissions and interest rates
- Powerful reporting tools
- Broad range of investment products
- Fair deal execution
- Comprehensive worldwide market information
- Client focus - Fantastic value for money
Organised
They are very clear and sympathetic in encouraging good practice were proper risk management is concerned.
Value for money
Excellent rates
Confusing customer service
My experience with IBKR customer service fell short of my expectations and the response time was excessively long.
Their customer service representatives appear to copy-paste responses without much care.
Security
Provides several investment instruments.
Cheap and complete
IBKR shows really good prices and provide more details and better record-keeping than other providers.
Yes, you can trade currency futures with direct market access and currency options on the Interactive Brokers trading platforms.
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.
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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.