Broker review
Interactive Brokers forex review 2026: fees, platforms and regulation
Interactive Brokers (IBKR) offers spot forex on its own platforms with interbank-style pricing: quotes from large FX dealers with no mark-up, plus a separate commission. It suits larger, cost-focused traders outside the US. US retail clients cannot open new leveraged forex positions.
Figures last verified 5 Nov 2026 · Checked against Interactive Brokers' own pricing pages and knowledge base
Our verdict
✓Best for: traders outside the US placing orders of $25,000 or more who want pass-through pricing and stocks, futures and options in one account.
✕Avoid if: you are a US retail trader, you place small orders (the $2 minimum applies) or you rely on MetaTrader.
Visit Interactive BrokersWe may earn a commission if you open an account through this link. It never affects what we say about a broker or who wins an award. Affiliate disclosure. Leveraged forex carries a high risk of losing money rapidly.
Key facts
Minimum deposit
No account minimum (IBKR commissions overview)
Forex pricing
Pass-through quotes, spreads as narrow as 0.1 pip, plus commission
Commission
0.20 basis points of trade value (up to $1bn a month), minimum $2.00 per order
Minimum order
$25,000 for standard IdealPro orders; smaller orders fill as odd lots
Platforms
Trader Workstation, IBKR Desktop, Client Portal, IBKR Mobile, APIs (no MetaTrader)
US retail forex
No new leveraged positions unless you qualify as an Eligible Contract Participant
Fees and spreads
IBKR streams quotes from 17 large FX dealers and charges a separate commission instead of marking up the spread. At 0.20 basis points, one standard lot of EUR/USD ($100,000) costs $2.00 per side, which is also the minimum per order, so a round trip is about $4 plus the spread. Orders under $25,000 still pay the $2.00 minimum, which makes small trades expensive.
Monthly trade value
Commission
Minimum per order
Up to $1bn
0.20 bp × trade value
$2.00
$1bn–$2bn
0.15 bp × trade value
$1.50
$2bn–$5bn
0.10 bp × trade value
$1.25
Over $5bn
0.08 bp × trade value
$1.00
Platforms
Forex is traded on IBKR's own platforms: Trader Workstation, IBKR Desktop, the browser-based Client Portal and IBKR Mobile, or through its APIs. MetaTrader is not offered, so MT4 and MT5 users would need to switch platforms.
Regulation and legal entities
Which company holds your account depends on where you live. US clients: since 1 September 2016, IBKR has only allowed Eligible Contract Participants to open new leveraged forex positions, according to its notice to clients at the time. Other US clients can convert currencies without leverage. Confirm your own eligibility with IBKR.
Interactive Brokers LLC
SEC and CFTC (US); FINRA, SIPC member
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Interactive Brokers (U.K.) Limited
FCA (UK)
FRN 208159
Interactive Brokers Ireland Limited
Central Bank of Ireland
C423427
Interactive Brokers Australia Pty. Ltd.
ASIC (Australia)
AFSL 453554
Interactive Brokers Canada Inc.
CIRO (Canada)
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Strengths
✓Transparent pass-through pricing with a published commission schedule.
✓No account minimum.
✓Tier-one regulated companies in the UK, EU, Australia and Canada.
Things to check
✕Not for US retail forex. New leveraged forex positions are limited to Eligible Contract Participants.
✕$2 minimum per order. Small orders cost proportionally more.
✕No MetaTrader. Expert Advisors built for MT4/MT5 will not run.
Who it may suit
Traders outside the US who place larger orders, want commission-based pricing and also trade stocks, futures or options in the same account. US traders should look at our US broker shortlist instead.
Sources
- IBKR: spot currency commissions
- IBKR: commissions overview (no account minimums)
- IBKR knowledge base: IdealPro minimum order size
- Finance Magnates: IBKR limits US leveraged forex to ECPs (2016)
Forex