Welcome to our list of Interactive Brokers. As a trader of the biggest market in the world, you’re subject to different trading costs and fees. There are two methods in which you can be charged by brokers for their service; spreads and commissions. Interactive Brokers consider this as their most direct method of charging you for the service rendered.
Talking about the Forex market as being the biggest, interactive brokers are amongst the 5.2 trillion volume traded each day. According to the Bank of international settlement, Foreign Exchange volume surpasses 5.2 trillion making it the largest. Interactive Brokers each handle over 1 billion volume of transaction 24/5 days a week. So what service do they actually render in order for them to charge you spreads and commissions? We’ll answer that in this following paragraph.
Key features Offered By Forex Brokers
- Interactive Brokers Provide a trading platform (Metatrader 4/5, cTrader, web platform and mobile).
- They provide varying solutions for Managers and Investors i.e Mirror Trader, cMirror, Copy Kat.
- They Provide 24/5 customer support and some have extended it to 24/7 customer support.
See the table below to pick the best one!
| Broker | Summary | Platform | Leverage | More Options |
|---|---|---|---|---|
| CM TRADING 🥇 |
Min Deposit: $250 Min lots: 0.01 US Citizens: NO |
MT4, Sirix | 1:200 | WEBSITE |
| 24Option 🥈 |
Min Deposit: $100 Min Lot: 0.01 lots US Citizens: NO |
MT4 (ECN) , MT5 (ECN) | 1000:1 | WEBSITE |
| Alvexo 🥉 |
Min Deposit: $500 Min lot: 0.01 lots US Citizens: NO |
web trading, MT4 Mobile app |
300:1 | WEBSITE |
| AVATRADE | Min Deposit: $100 Min lot: 0.01 lots US Citizens: NO |
AvaTradeGo, MT4, Autotrading |
400:1 | WEBSITE |
| CMS TRADER | Min Deposit: $300 Min lot: 0.01 lots US Citizens: NO |
Sirix Station, Mobile Trader |
400:1 | WEBSITE |
| eToro | Min Deposit: $100 Min Lot: 0.01 lots US Citizens: NO |
Open Book, Copy Trading, MT5 (ECN) |
400:1 | WEBSITE |
| FIBO GROUP Ltd. | Min Deposit: $300 Min Lot : 0.01 lots US citizens: NO |
MT4 (ECN), MT5 (ECN) CTrader |
1:200 | WEBSITE |
| Instaforex | Min Deposit: $50 Min lots: 0.01 lots US citizens: Yes |
MT4, MT5 (ECN) Copy Trading, mobile app |
1:1000 | WEBSITE |
| ITRADER | Min Deposit: $300 Min lot: 0.01 lots US citizens: NO |
meta trader4, mobile trader |
500:1 | WEBSITE |
| Pepperstone | Minimum Deposit: $200 Min Lot: 0.01 lots US citizens: NO |
MT5 Demo, MT4 (ECN), MT4 Desktop/Mobile/iOS/Android, Web Trader, Myfxbook, cTrader, ZuluTrade, Signal Trader | 500:1 | WEBSITE |
| Tradersway | Min Deposit: $1 Min Lot: 0.01 lots US Citizens: NO |
MT4, CMIRROR, cTader |
1000:1 | WEBSITE |
| Trade.com | Minimum deposit: $1000 | meta trader 4, web trader, MT5 (ECN), | 400:1 | WEBSITE |
Minimum Investment Required by Interactive Brokers
In general, all Brokers in the list above require a minimum deposit from $1 to $500. So if you’re new to the industry, you might wonder what necessary initial investment does Forex trading require to expect a stable income besides what brokers require as a minimum. According to Vantage Point Trading, it requires $2000 preferably $5000 investment to earn a decent income. With a $3000 investment risking no more than 1%($30) in any trade, you could earn a stable $60 per day.