Zenfinex vs Interactive Brokers

Zenfinex or Interactive Brokers – which is better for UK traders 2024? Compare Zenfinex and Interactive Brokers in this detailed breakdown of their platforms, features and fees.

Zenfinex vs Interactive Brokers Comparison Table 2024
Zenfinex Interactive Brokers
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4.3
Zenfinex is ranked #92 among CFD brokers. Interactive Brokers is ranked #36 among CFD brokers.
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Zenfinex is a UK-headquartered broker offering social trading, low fees and MT4. Interactive Brokers (IBKR) is a premier brokerage, 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.
Pros
  • 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 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, most recently the Saudi Stock Exchange.
  • 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
  • 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.
FCA Regulated
Yes Yes
Instruments
Forex, CFDs, indices, commodities Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
Demo Account
Yes Yes
Minimum Deposit
$50 $0
Payment Methods
Minimum Trade
0.01 Lots $100
Regulator
FCA, SVGFSA FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
Mobile Apps
Yes iOS & Android
Trading App

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.
iOS App Rating
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4.3
Android App Rating
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4.5
Margin Trading
No Yes
Margin Rate
1.55 - 2.59%
MetaTrader 4
Yes No
MetaTrader 5
Yes No
cTrader
No No
AlgoTrader
No Yes
OmniTrader
No Yes
TradingView
No No
Autochartist
No No
eSignal
No Yes
Trading Central
No Yes
STP Account
No Yes
ECN Account
No No
DMA Account
No Yes
MAM Account
No Yes
PAMM Account
No 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
No Yes
Auto Trading
Yes Capitalise.ai & TWS API
Copy Trading
Yes No
Copy Trading Platform
Zenfinex offers social copy trading through the interactive iOS and Android ZenConnect mobile app. Investors can buy and sell on the financial markets using the tips and positions of other traders.
Social Trading
Yes No
Trade Signals
Yes
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No Yes
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0
Islamic Account
No No
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • INR
  • JPY
  • SEK
  • NOK
  • DKK
  • CHF
  • AED
  • HUF
Commodities
  • Gold
  • Silver
  • Gold
  • Zinc
  • Aluminium
  • Natural Gas
  • Soybeans
  • Lead
  • Precious Metals
  • Lean Hogs
CFD
Leveraged contracts for difference are available on multiple financial markets. 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 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
1:30 (UK), 1:400 (Global) 1:50
FTSE Spread
2.0 0.005% (£1 Min)
GBPUSD Spread<
0.3 0.08-0.20 bps x trade value
Oil Spread
0.05 0.25-0.85
Stocks Spread
N/A 0.003
Forex
Ultra competitive spreads are available on forex pairs at Zenfinex. 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.
Assets
50+ 100+
GBPUSD Spread
0.3 0.08-0.20 bps x trade value
EURUSD Spread
0.1 0.08-0.20 bps x trade value
EURGBP Spread
0.3 0.08-0.20 bps x trade value
Cryptocurrency
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
0.12%-0.18%
Coins
  • BTC
  • LTC
  • ETH
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Zenfinex Interactive Brokers
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