Broker review · 2026
Interactive Brokers review 2026
Interbank FX pricing inside the world’s broadest multi-asset broker.
Interactive Brokers gives retail traders institutional forex pricing: spreads from about 0.1 pips and a small commission based on trade value. It is also the most complete multi-asset broker available, but its professional platforms have a steeper learning curve.
Pros
- Interbank spreads with very low commissions
- Trade forex alongside stocks, futures, options and bonds
- S&P 500 listed with the strongest regulatory profile
- Powerful API and Trader Workstation
Cons
- Trader Workstation is complex for beginners
- No MetaTrader support
- Minimum commission of $2 per FX order
Interactive Brokers overview
Interactive Brokers (IBKR) is a NASDAQ-listed global broker founded by Thomas Peterffy. It routes forex orders to a network of large banks and charges a commission rather than a markup, which is why its effective EUR/USD cost is among the lowest anywhere.
Is Interactive Brokers safe and regulated?
IBKR is regulated by the SEC, FINRA, CFTC and NFA in the US and by top-tier regulators in the UK, EU, Canada, Australia, Singapore and Hong Kong. It is a member of the S&P 500 and publishes substantial excess regulatory capital, placing it at the top of our trust ranking.
Tier-1 regulators are shown in bold. Always confirm the licence on the regulator’s own register.
Interactive Brokers spreads and fees
Forex commissions are 0.08 to 0.20 basis points of trade value, with a $2 minimum per order. On a standard lot of EUR/USD that is roughly $2 per side, plus a raw interbank spread around 0.1 pips. There is no minimum deposit and no inactivity fee.
| Account | EUR/USD spread | Commission (round turn) | Cost per lot |
|---|---|---|---|
| Raw / ECN | 0.1 pips | $4 | $5.0 |
Trading platforms
Trader Workstation (TWS) is extremely powerful, with algos, risk tools and options analytics, but it takes time to learn. IBKR Desktop and IBKR Mobile are simpler alternatives. Programmatic traders can use the TWS API or Client Portal API.
How Interactive Brokers scores
- Trust & regulation 30%
- 5.0
- Fees & spreads 25%
- 4.8
- Platforms & tools 15%
- 4.5
- Markets & range 10%
- 5.0
- Ease of use 10%
- 3.2
- Research & education 10%
- 4.7
Verdict
For experienced traders, Interactive Brokers is the best value forex broker in the US and one of the best worldwide, especially if you also trade other assets. Beginners may prefer a simpler platform.
Open an account with Interactive BrokersYou will be taken to interactivebrokers.com.
Interactive Brokers FAQ
Can you trade forex on Interactive Brokers?
Yes. IBKR offers spot forex on 100+ currency pairs with interbank spreads and low commissions.
What is the Interactive Brokers forex commission?
Commissions range from 0.08 to 0.20 basis points of trade value, with a $2 minimum per order.
Does Interactive Brokers support MT4?
No. IBKR uses its own platforms (TWS, IBKR Desktop, IBKR Mobile) and APIs.
Is Interactive Brokers good for beginners?
Interactive Brokers scores 3.2/5 for ease of use. It is better suited to traders with some experience; beginners may prefer these brokers.