Interactive Brokers vs RoboForex - Fees Review included
Which broker is better Interactive Brokers or RoboForex? Our expert assessment conducted according to TU’s own methodology showed that Interactive Brokers is one of the top brokers in the financial market with the TU Overall Score of 7.45 out of 10. RoboForex is one of the top brokers in the financial market with the TU Overall Score of 9.71 out of 10. Find out more about TU Overall Score.
| Feature | Interactive Brokers | RoboForex |
|---|---|---|
Overall |
4.9 |
4.9 |
5 |
4.6 |
|
4.9 |
4.9 |
|
5 |
5 |
|
Investment Instruments |
4.2 |
4.8 |
Platforms and Charting Tools |
5 |
4.9 |
Deposit and Withdrawal |
4.1 |
4.8 |
Research |
4.7 |
4.9 |
Education |
4.5 |
4.8 |
Support |
4.2 |
5.0 |
Bonuses |
3.1 |
5 |
|
|
Interactive Brokers vs RoboForex: Pros and Cons
The biggest international broker
RoboForex is a brokerage company that was founded in 2009. It provides services to financial markets in 169 countries. More than 3.5 million users are RoboForex clients. RoboForex is the leading software developer in the Forex industry. RoboForex is recognized as a reliable partner by the most respected financial market experts. The company has won numerous prestigious awards. The RoboForex group of companies has an international license to provide services from FSC Belize.
| Interactive Brokers | RoboForex | |
|---|---|---|
| Overall Pros | Access to 135 markets in 33 countries | Trading With Leverage up to 1:2000 |
| 30.000+ trading instruments | Near 9000 supported trading assets | |
| Regulated in the US, UK and 8 other countries | Low trading and non trading fees | |
| Advanced trading platform | Passive income with copy trading | |
| Free stocks for registration | Great bonus programs | |
| Low fees | Instant withdrawal of funds | |
| Low margin rates | Best choice of Forex EA, Forex bots builder | |
| Nasdaq Listed company | Advanced trading platforms | |
| 25 supported account currencies | ||
| Overall Cons | long and complex registration procedure | Lack of cryptocurrency tools when trading on the R Trader platform |
| A small number of currency pairs - 36, for accounts: Pro, Pro-Cent, ECN, Prime |
Interactive Brokers vs RoboForex: Safety and Regulation
| Regulated By: | Interactive Brokers | RoboForex |
|---|---|---|
US Regulation |
Yes |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
Investment Industry Regulatory Organization of Canada (IIROC), Central Bank of Ireland (CBI, reference number C423427), Central Bank of Hungary (Magyar Nemzeti Bank), Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Cboe Australia, Hong Kong Securities and Futures Commission, and is a member of the SEHK and the HKFE, India SEBI Registration No. INZ000217730, Japan - Kanto Local Finance Bureau (Registration No.187) and is a member of Japan Securities Dealers Association and The Commodity Futures Association of Japan, Monetary Authority of Singapore (Licence No. CMS100917) |
FSC (Belize) |
Interactive Brokers vs RoboForex: Trading Conditions
| Trading Conditions | Interactive Brokers | RoboForex |
|---|---|---|
Minimum Deposit |
$0 |
$10 |
Trading Platforms |
IB Trader Workstation, IBKR GlobalTrader, Client Portal |
MT4, MT5, cTrader, R StocksTrader, RoboForex, |
Max Leverage (Futures) |
1-50 |
1-2000 |
Supported Markets |
Stocks, Forex, ETFs, Mutual Funds, Bonds, Stock options, Commodity Futures, Currency futures, Cryptocurrencies, Robo-portfolios, hedge funds |
Forex, Stocks, Indices, ETFs, Groceries, Energy commodities, Metals |
Trading assets |
30000+ |
8700+ |
Trading Accounts |
Cash account, margin account |
Pro, Pro Cent, ECN, Prime |
Base Account Currencies |
USD, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NZD, NOK, PLN, SGD, SEK, CHF, CNH |
USD, EUR |
Interactive Brokers vs RoboForex: Fees
Forex Trading Fees
| Fee | Interactive Brokers | RoboForex |
|---|---|---|
Standard Account EURUSD Average Spread |
0.1 pips |
1.4 pips |
Standard Account Fee |
0.08 to 0.20 bps times trade size |
$0 |
ECN/STP Account Fee |
0.08 to 0.20 bps times trade size |
$2 per lot |
ECN Account EUR Average Spread |
0.1 pips |
0.1 pip |
CFD Trading Fees
| Fee | Interactive Brokers | RoboForex |
|---|---|---|
CFD Trading Fee |
0.05% on all share CFDs |
Floating spread |
Non-Trading Fees
| Fee | Interactive Brokers | RoboForex |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
$10 per wire transfer, $1 per BACS/GIRO/ACH/EFT/SEPA |
No |
Inactivity Fee |
No |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Interactive Brokers vs RoboForex: Trading Assets
| Asset Name | Interactive Brokers | RoboForex |
|---|---|---|
Overall |
30000+ |
9700+ trading assets |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes |
Yes (CFD) |
Energy |
Yes |
Yes (CFD) |
Indices |
Yes |
Yes (CFD) |
ETFs |
Yes |
Yes (CFD) |
Bonds |
Yes |
No |
Mutual funds |
Yes |
No |
Stock options |
Yes |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
Interactive Brokers or RoboForex: Investment Programs
| Asset Name | Interactive Brokers | RoboForex |
|---|---|---|
Copy Trading |
No |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
Robo-portfolios, hedge funds, Bonds |
No |
Trading Platforms: RoboForex or Interactive Brokers
| Interactive Brokers | RoboForex | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
Yes |
Appropriate platform |
IB Trader Workstation, IBKR GlobalTrader, Client Portal |
R StocksTrader, RoboForex Terminals |
Others |
No |
No |
|
|
Interactive Brokers vs RoboForex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Interactive Brokers | RoboForex |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
No |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
No |
No |
Interactive Brokers vs RoboForex: Research
| Research Type | Interactive Brokers | RoboForex |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
Yes |
E-Mail Reports |
Yes |
Yes |
Interactive Brokers vs RoboForex: Education
| Education Type | Interactive Brokers | RoboForex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
Yes |
RoboForex vs Interactive Brokers: Support
| Support Features | Interactive Brokers | RoboForex |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
Community forum, Software bug reports |
No |
Interactive Brokers vs RoboForex: Forex Bonuses and Promo
| Promo | Interactive Brokers | RoboForex |
|---|---|---|
Forex Bonus |
No |
Welcome bonus $30 Classic first deposit bonus up to 120% |
Affiliate Program |
As Referrer you can earn up to USD 1000 of IBKR stock. The Refer a Friend program allows eligible IBKR clients to refer people to IBKR for a flat fee payment. Residents of Japan, Spain and Israel are not eligible to participate in the program. |
Up to 40% of trading commissions |
Other Promos |
||
|
|
Top 5 Reviews on RoboForex
-
Comment
Today,April 11, 2024, I made a deposit using a new payment method to fund my RoboForex trading account. I always received the deposited amount real-time in my previous service provider and was expecting the same this time. That did not happen unfortunately. I waited for five hours before finally contacting the RoboForex customer service just in case it was just a minor glitch in the system. The platform has a number of customer service channels to choose from like Whatsapp, Telegram, Messenger, etc which is convenient. I contacted them through Facebook Messenger at 2 pm local time (+8 GMT) and got a response right after I sent my concern. Website says customer service is 24/7. Was asked to provide my trading account number and made it clear that some transactions can take up to five business days to reflect, depending on the service provider. But somehow the funds made it into my account within the day after the interaction. Happy about their prompt response on this one.
-
Comment
I signed up with RoboForex two weeks ago and the process went smoothly overall. Only one thing to remember: they have a specific requirement on the password format which took a bit of my time. I use the same password on all my trading accounts which RoboForex kept rejecting, so had to come up with a new one which for me is a source of slight inconvenience for my future transactions. After submitting the documents confirming my identification and home address, they sent me an email informing that my MT4 Pro account has been successfully opened. It’s fast. There are four different account types to choose from: Demo, Real, CopyFX Trader, and Partner which appeals to different types of traders and I selected a demo since I am a beginner. From my understanding you can open multiple accounts at once and there can be different types, depending on preference. The demo account has a $10,000 balance and a 1:1000 leverage and I just started playing around. Wish they will be more flexible with th
-
Comment
RoboForex is a beginner-friendly platform. I was able to set up an account by following the instructions I saw in the blogs section. After setting up a demo account, I opened the web trader version of the trading platform, and the educational guides on how to trade I found on this trading platform have helped me in my trading journey. The educational resource explained the importance of studying the price movement of the asset you choose and how to select the order volume, of which 1.0 is the recommended value. Beginner traders can consider the educational resource available on the RoboForex platform as there are provisions for those looking to learn how to trade using major trading pairs like GBP/USD, EUR/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD, etc.
-
Comment
I've been trading with Roboforex for over 2 years now, and I can't say anything bad about the broker. Their trading conditions are better than those of larger companies. The spreads on ECN accounts are minimal; it's a pleasure to scalp on the EUR/USD pair. Yes, during increased volatility, spreads may widen, but I don't trade the news, so it's not essential for me. Also, I take advantage of Roboforex's free VPS for automated trading. I recommend this company
-
Comment
I've been trading with Roboforex for over 2 years now, and I can't say anything bad about the broker. Their trading conditions are better than those of larger companies. The spreads on ECN accounts are minimal; it's a pleasure to scalp on the EUR/USD pair. Yes, during increased volatility, spreads may widen, but I don't trade the news, so it's not essential for me. Also, I take advantage of Roboforex's free VPS for automated trading. I recommend this company.
Top 5 Reviews on Interactive Brokers
-
Comment
I am very glad that I found Interactive Brokers, because it is convenient to work with — the service is well made and streamlined, the user account is convenient, and you can trade on different platforms and use robots. There are a lot of tools for traders. In general, their approach to work is serious.
-
Comment
I recently started trading with interactive brokers, but I am already trading on a live account. There is no delay in withdrawing money, the execution is excellent, and they make life easier for traders, as they allow you to trade with different strategies. You can try whatever you want and the choice of platforms is amazing, so there is a space for experiments.
-
Comment
There are no problems with Interactive Brokers. All trading operations are carried out as needed. There is a license and regulators, and that definitely says a lot.
-
Comment
Attempts to successfully invest funds haven’t always brought me the positive results that were promised to me by the brokers with whom I worked. I had to start searching, and those who search always find. I found interactive brokers. As a result, in six months, I doubled the money invested. I hope that I will stay here for a long time.
-
Comment
No worries with Interactive Brokers. I know for sure that the company will not let you down. How many years here and only a positive opinion about Interactive Brokers. Always, on all thematic resources, I advise this company.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!