Alpari vs Interactive Brokers

Alpari vs Interactive Brokers Comparison Table 2024
Alpari Interactive Brokers
3.8
4.3

Interactive Brokers is #1 in our CFD broker rankings.

United States Flag Traders from US not accepted
United States Flag Traders from US accepted

Alpari is an offshore multi-asset broker that offers traders a wide range of forex trading opportunities as well as stock, index and commodity CFDs. The broker also offers fixed costs with payouts known upfront. Trading takes place on the reliable MT4 and MT5 platforms, plus the brand's mobile app. Alpari offers tight ECN spreads which will serve active day traders.

Interactive Brokers (IBKR) is a premier brokerage for experienced traders, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.

Customer Reviews
4
Bonus Offer
30% up to $100 (terms apply)
Comment by Reviewer
"Alpari will suit short-term binary options traders with a low $5 deposit, powerful charting terminals, and a rebate scheme. Forex traders also get very high leverage with tight spreads while the broker's PAMM service will appeal to hands-off investors." "Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Pros
  • Low or no commissions are available and there are tight spreads on ECN accounts
  • There's an excellent choice of funding options with no fees
  • Cashback schemes are available for high-volume traders
  • Alpari supports both the MT4 and MT5 platforms with support for Expert Advisors (EAs)
  • Copy trading and PAMM services are also available for day traders
  • The broker offers high leverage up to 1:1000 for experienced clients
  • IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.
  • The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline.
  • The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level.
  • There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
  • IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries.
  • While primarily geared towards experienced traders, IBKR has made moves to broaden its appeal in recent years, reducing its minimum deposit from $10,000 to $0.
  • With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
Cons
  • The lack of educational resources is disappointing compared to alternatives
  • There are fairly high charges for strategy manager copy trading tools
  • The market analysis and research tools are limited
  • TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
  • IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
  • Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
  • You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
Instruments
Forex, CFDs, Stocks, Commodities, Indices, Crypto Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
Demo Account
Yes Yes
Minimum Deposit
$5 $0
Trading Platforms
  • MT4
  • MT5
  • Trader Workstation (TWS)
  • IBKR Desktop
  • GlobalTrader
  • Mobile
  • Client Portal
  • AlgoTrader
  • OmniTrader
  • eSignal
  • TradingCentral
Payment Methods
Minimum Trade
0.01 Lots $100
Regulator
FSC, SEBI, JFSA FCA, SEC, FINRA, CBI, CIRO, SFC, MAS, MNB
Margin Trading
No Yes
Margin Rate
1.55 - 2.59%
STP Account
No Yes
ECN Account
No No
DMA Account
No Yes
MAM Account
No Yes
PAMM Account
Yes No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No Yes
Robo Advisor
No Yes
Negative Balance Protection
No Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
iOS & Android iOS & Android
App Review

The IBKR Mobile app, available on both iOS and Android devices, makes your phone a powerful gateway to your IBKR accounts, offering you the freedom to keep an eye on portfolios, initiate trades, and dive into real-time quotes and charts, all while managing your account activities on the fly. This app stands out for its intuitive design, making it especially welcoming for those just starting their trading journey, providing a smoother and more accessible experience than the more complex TWS platform.

Android App Rating
3.6
4.6
iOS App Rating
3.6
3.4
Auto Trading
Expert Advisors (EAs) on MetaTrader Capitalise.ai & TWS API
Copy Trading
Yes No
Copy Trading Platform
Users can follow experienced strategy managers at Alpari, including seasoned forex traders. The broker offers account ratings to help you find a suitable provider as well as notifications on returns and one-click deposits and withdrawals.
Social Trading
No No
VPS Hosting
No No
Tournaments
No No
Demo Competitions
Yes No
Ethical Investing
No Yes
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$5 $0
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
  • GBP
  • CZK
  • NGN
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • INR
  • JPY
  • SEK
  • NOK
  • DKK
  • CHF
  • HUF
Stock Exchanges
Commodities
CFD Trading
Alpari offers CFDs on 60+ forex pairs, hundreds of global stocks, 11 stocks indices and spot metals and energies. Trading takes place via the MT4 or MT5 platforms, and the broker provides strategy and copy trading support as well as educational resources and 24/5 multilingual customer service. Over 8,000 CFDs are offered on a vast array of instruments, encompassing stocks, indices, forex, and commodities. Moreover, the TWS platform lends itself to seasoned day traders, offering a comprehensive selection of over 100 order types and algorithms, alongside premium market data sourced from reputable sources such as Reuters and Dow Jones.
Leverage
1:1000 1:50
FTSE Spread
13 0.005% (£1 Min)
GBPUSD Spread
0.7 0.08-0.20 bps x trade value
Oil Spread
4.0 0.25-0.85
Stocks Spread
2.0 0.003
Forex Trading
Alpari traders can access 60+ currency pairs and crosses via CFDs on the MT4 and MT5 platforms. The broker offers very competitive pricing, especially on the ECN Pro account which is commission free. Significant leverage up to 1:1000 is available. IBKR presents an extensive range of over 100 major, minor, and exotic forex pairs, surpassing the offerings of nearly all leading alternatives, though not CMC Markets. Forex trading occurs over multiple platforms and boasts institutional-grade spreads starting from 0.1 pips and 20 complex order types, including brackets, scale, and one-cancels-all (OCA) orders.
GBPUSD Spread
0.7 0.08-0.20 bps x trade value
EURUSD Spread
0.4 0.08-0.20 bps x trade value
EURGBP Spread
0.6 0.08-0.20 bps x trade value
Assets
50+ 100+
Currency Indices
  • USD
Cryptocurrency
Alpari offers a solid selection of popular crypto tokens paired with the USD. Spreads are competitive, starting at 1 and users can analyze the digital asset markets with the leading MetaTrader platforms, including on the weekends. IBKR lets you purchase and hold Bitcoin, Bitcoin Cash, Ethereum, and Litecoin at competitive commission rates and without needing a crypto wallet. Additionally, there is a range of other diverse assets to explore, such as crypto indices like the NYSE Bitcoin Index, as well as futures contracts like the BAKKT Bitcoin Futures.
Spread
1 0.12%-0.18%
Coins
  • AVE
  • BTC
  • BCH
  • ADA
  • LINK
  • DAI
  • DOGE
  • EOS
  • ETH
  • ECH
  • FIL
  • LTC
  • XMR
  • DOT
  • XRP
  • MATIC
  • SOL
  • XLM
  • USDT
  • TRON
  • UNI
  • USDC
  • BTC
  • LTC
  • ETH
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
More Comparisons
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