Edited by May 3, 2023

Author

Edited by

Chris Cammack

Partner Manager and Financial Writer

Chris manages the relationships with our partners to provide the best Forex trading experience possible for our users. Chris has 15+ years of research, and editorial and design experience for political and financial publications. His background has given him a deep understanding of international financial markets and the geopolitics that affect them.

Learn more about Chris Cammack

Author

Alison Heyerdahl

Head of Content

<p>Alison Heyerdahl is the Head of Content at FxScouts, a Chartered Market Technician (CMT), and an experienced trader, as well as a financial writer with extensive expertise in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast.</p>

Learn more about Alison Heyerdahl

Interactive Brokers

4.31

How we review

Top Rated Brokers

Forex and CFD trading is high risk and most traders lose money

Available to traders in %s

Min deposit

USD 1

Regulated By

Trading Cost

USD 5.40

Leverage

50:1

Copy Trading

Yes

Platforms

Clientportal, IBKRmobile, Trader Workstation

Instruments

Interactive Brokers Broker Review

Founded in 1977 and listed on the NASDAQ, Interactive Brokers is one of the best-regulated brokers in the industry. Ideal for sophisticated, active traders, Interactive Brokers is in a league of its own with the astounding number of assets on its books and its feature-rich platforms. However, its website and complicated account structure may leave less experienced Australian traders reeling. 
Interactive Brokers’ world-class research, trading tools, and education will leave traders of all experience levels satisfied, and consistent with its excellent reputation, Interactive Brokers’ trading costs are some of the lowest in the industry. Spreads start at 0.1 pips (EUR/USD) in exchange for a round turn commission of 4.4 USD.  
One complaint traders may have is that it does not offer third-party platforms like MT4 and MT5, and traders can only fund their accounts by bank transfer and BPay.

Accepts Australian Clients. Starting spread EUR/USD 0.1 pips on trading account with lowest minimum deposit. Max leverage 50:1. Trader Workstation and IBKR trading platforms supported. Interactive Brokers is regulated by the FCA, CFTC, ASIC, MAS, and the IIROC.

Pros

Well regulated
Low minimum deposit
Tight spreads
Wide range of assets

Cons

Complicated website
No MT4
MT5
or cTrader

Rating Reviews

4.31

Interactive Brokers Overall Summary

Trust Rating

Trading Conditions

Platforms

Education

Beginner Friendly

Assets Available

Analysis Research

Deposit & Withdrawal

Overall Rating

4.31

/ 5

Base Currencies

AUD, USD, EUR, GBP, SGD, CAD

Number of FX Pairs

115

Crypto Pairs

Copy Trading

Yes

Hedging Allowed

Yes

Scalping Allowed

Yes

Islamic Account

Account Name

IBKR pro

Commission

4.4 USD / lot

EUR/USD

0.10

GBP/USD

0.40

USD/JPY

0.20

Negative Balance Protection

Yes

Company Name

Interactive Brokers U.K. Limited

Founded

1977

Website

https://www.interactivebrokers.com/en/home.php

Website Language

English

Support Language

English

Office Locations

USA, United Kingdom, China, Canada, Australia, India, Japan, Luxembourg

Support Email Address

[email protected]

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Deposit & Withdrawal

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Meet the Experts Behind Our Unbiased Reviews

Chris Cammack

Partner Manager and Financial Writer

Chris Cammack is partner manager and senior financial writer at FxScouts, specialising in broker relations and forex market analysis. As the former Head of Content (2019–2024), he set editorial standards for all content published at FxScouts, including broker reviews, broker comparison pages and education. With over a decade of experience in editorial management and partner relations, Chris builds and maintains our relationships with our partners to provide the best Forex trading experience for our users. He also co-hosts the “Let’s Talk Forex” podcast with Alison Heyerdahl, where he explores trading strategies, industry news, and macroeconomic trends to help traders navigate the markets with confidence.

Alison Heyerdahl

Head of Content

Alison Heyerdahl is the Head of Content at FxScouts, a Chartered Market Technician (CMT), an experienced trader, and a financial writer with extensive hands-on experience in the Forex trading industry. She specialises in Forex trading, broker analysis, and market research, with a focus on helping traders navigate the complex world of online trading safely and confidently. Alison has tested and reviewed more than 100 Forex brokers, assessing everything from regulatory status and trading conditions to platform features and customer support. Her goal is to provide honest, detailed, and practical insights that traders can rely on when choosing a broker. She’s also produced more than 300 educational videos for the FxScouts YouTube channel, where she explains trading concepts in a clear, accessible way. As the co-host of the “Let’s Talk Forex” podcast, Alison shares expert commentary on broker reliability, trading strategies, and market developments—always with a focus on transparency and trader protection.

Stefan de Clerk

Financial Writer

Stefan is a financial writer and Forex trading enthusiast with over a decade of experience creating in-depth content on finance and technology. His deep interest in geopolitical events, big data, and market sentiment fuels his passion for analyzing how global factors shape financial markets. With a background in marketing and financial research, Stefan believes that Forex trading offers the best insight into the pulse of the world economy. Committed to delivering well-researched, unbiased, and objective information, he helps traders navigate the markets with clarity and confidence.

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