Interactive Brokers at a glance
Regulators:
- US: Interactive Brokers LLC, FINRA/SIPC member, NFA 0258600, CFTC-registered
- UK: Interactive Brokers (UK) Ltd, FCA FRN 208159
- EU: Interactive Brokers Central Europe Zrt., Hungarian MNB-licensed (EU passported)
- Australia: Interactive Brokers Australia Pty Ltd, ASIC 453554
- Canada: Interactive Brokers Canada Inc., IIROC-regulated
IBKR is the genuine multi-jurisdiction professional platform. Unlike most retail brokers, Interactive Brokers offers actual spot FX (delivered currency) alongside CFDs, making it suitable for businesses and sophisticated individuals who want real currency exposure, not just speculative contracts.
- Best for
- Multi-asset professionals and experienced traders
- Skip if
- Beginners and copy-traders
- Cost floor
- No minimum; Pro: $2 min per forex trade
Forex pricing — IBKR Lite vs Pro
| Tier | EUR/USD spread | Commission | All-in per $100K | Suitable for |
|---|---|---|---|---|
| IBKR Lite | ~0.5 pip | None | ~$5 | US residents, casual trading |
| IBKR Pro | Near-zero (inter-dealer) | $0.20 per $100K (min $2) | ~$2–4 | Professional / high-volume |
IBKR Pro pricing is among the cheapest in retail forex for high-volume traders — the $2 minimum per trade means Pro only becomes efficient above ~$10,000 position sizes. For traders doing 0.1 lots (10K), the minimum commission makes Pro less attractive than Lite.
What Interactive Brokers does that no retail broker does
- Real spot FX delivery — you can actually take delivery of foreign currency, not just speculate on its price movement. Useful for businesses with multi-currency payables.
- Multi-asset in one account — trade forex, equities, futures, options, bonds, ETFs from a single margin account. The margin offsets across asset classes.
- IBKR GlobalTrader — simplified mobile app for beginners; Trader Workstation (TWS) — the full-featured desktop terminal for professionals
- Order types — IBKR supports over 100 order types including VWAP, TWAP, and conditional orders that retail brokers simply do not offer
The IBKR Mobile app
IBKR Mobile is the simplified companion to TWS. On mobile it is functional — account monitoring, order entry, watchlists, basic charts — but the UX is designed for someone who learned the platform on desktop first. New users without TWS experience will find it confusing.
The mobile app strength is portfolio monitoring across assets: see your forex positions, stock positions, and bond holdings in one screen with real-time P&L. No retail broker offers this depth on mobile.
Regulation by jurisdiction
| Jurisdiction | Entity | Regulator | Accepts |
|---|---|---|---|
| USA | IB LLC | FINRA/SIPC, NFA 0258600 | Yes |
| UK | IB UK | FCA 208159 | Yes |
| EU | IB Central Europe | MNB (Hungary) | Yes |
| Australia | IB Australia | ASIC 453554 | Yes |
| Canada | IB Canada | IIROC | Yes |
Who Interactive Brokers is for
- Best match: Professional or semi-professional trader with $10,000+ who wants the cheapest professional pricing in retail forex, or a multi-asset trader who wants stocks + forex + futures in one account
- Second match: US residents who want legitimate forex spot trading alongside equities (IBKR is one of the few US-compliant options with competitive pricing)
- Not a good match: Beginners, copy-traders, anyone who wants a simple guided onboarding
See also: Best forex apps for US traders · OANDA vs IG comparison · What is ECN/STP?