What forex pairs are available on IBKR?

If you’re thinking about trading forex on Interactive Brokers (IBKR), one of the first questions you’ll probably have is: what currency pairs can I actually trade here? The good news is that IBKR offers a large selection of forex pairs—from the most popular majors to lesser-known exotics.

This guide walks you through what types of forex pairs are available, how forex trading works on the IBKR platform, and what real traders say about the experience.

Major, Minor, and Exotic Forex Pairs on IBKR

IBKR offers over 100 currency pairs, grouped into three main categories:

Major Pairs (Most Liquid and Widely Traded)

Major forex pairs always include the US dollar and one other major global currency. These are the most popular on IBKR:

• EUR/USD (Euro / US Dollar): The most traded pair globally and highly liquid on IBKR.
• USD/JPY (US Dollar / Japanese Yen): Known for lower spreads and high volume.
• GBP/USD (British Pound / US Dollar): Popular for volatility and trend-based trading.
• USD/CHF (US Dollar / Swiss Franc): Often seen as a “safe haven” pair.
• USD/CAD (US Dollar / Canadian Dollar): Sensitive to oil prices—frequently traded by commodity-focused traders.
• AUD/USD (Australian Dollar / US Dollar): Volatile and frequently used for carry trades.
• NZD/USD (New Zealand Dollar / US Dollar): Lower liquidity but popular among swing traders.

Minor Pairs (Non-USD, Still Active)

These don’t include the US dollar but still involve major global currencies:

• EUR/GBP (Euro / British Pound)
• EUR/CHF (Euro / Swiss Franc)
• GBP/JPY (British Pound / Japanese Yen)
• AUD/JPY (Australian Dollar / Japanese Yen)
• EUR/AUD (Euro / Australian Dollar)

Minors on IBKR often have slightly wider spreads than majors but are still actively traded.

Exotic Pairs (Emerging Market Currencies)

Exotics involve one major currency and one from a developing or smaller economy. IBKR offers many of these:

• USD/TRY (US Dollar / Turkish Lira)
• USD/SEK (US Dollar / Swedish Krona)
• EUR/ZAR (Euro / South African Rand)
• GBP/SGD (British Pound / Singapore Dollar)
• USD/HKD (US Dollar / Hong Kong Dollar)

These pairs come with lower liquidity and higher spreads, but they attract traders looking for volatility or macroeconomic trends.

How Forex Trading Works on IBKR

Trading forex on IBKR is different from many retail platforms. Here’s how it functions:

• Institutional-Style Pricing. IBKR uses interbank pricing and passes tight spreads to users, especially those on Tiered accounts.
• No Dealing Desk. There’s no broker intervention—you’re trading directly in the market.
• Minimum Trade Sizes. You’ll typically need to trade at least one lot of 25,000 units for major pairs, although flexible sizing is available via FX CFDs.
• Multiple Trading Interfaces. You can access forex via IBKR’s Trader Workstation (TWS) platform (best for pros), client Portal (simpler layout) and mobile app (on-the-go trading).

Also worth noting: unlike some brokers, IBKR does not use a wallet system. When you deposit in one currency, you’ll need to convert manually via forex trade if needed.

Real-World Insights from Traders

Based on community feedback and trading forums, here’s what users are saying about forex on IBKR:

• “Spreads are excellent during high-volume hours” – Many traders prefer IBKR for tight EUR/USD spreads, especially during the London and New York sessions.
• “TWS is powerful but overwhelming at first” – Beginners might need time to get used to the interface, but experienced traders love the customizability.
• “Not ideal for micro-lots unless using FX CFDs” – If you’re starting with small capital, CFDs might be easier than spot FX trading on IBKR.
• “Execution is lightning fast” – Several traders report consistently quick and reliable order fills without slippage during normal market conditions.

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Tips for Choosing the Right Forex Pairs on IBKR

• Stick to majors if you’re new – Lower spreads, higher liquidity, and more predictable price movements.
• Try minors for cross-currency strategies – Especially useful for traders in the UK or Europe.
• Use exotics only if you understand the risks – These can move fast due to local economic shocks.

Final thoughts

If you’re a trader looking for professional-grade forex execution with global reach and advanced platforms, IBKR offers a deep range of pairs and competitive pricing. Just make sure you’re comfortable with the platform and trade sizes before diving in.

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FAQs

1. Can I trade exotic pairs like USD/TRY or EUR/ZAR on IBKR? Yes, IBKR supports many exotic pairs, though liquidity and spreads may vary. Make sure you’re aware of the risks before trading.

2. Is there a minimum trade size for forex on IBKR? Yes, for spot forex, it’s typically 25,000 base units (0.25 lots). However, FX CFDs allow for smaller trade sizes.

3. Does IBKR charge commissions for forex trades? Yes, on Tiered pricing accounts. Spreads are tight, but a small commission applies. Fixed pricing accounts may offer wider spreads but no separate commission.

4. Can I trade forex on the IBKR mobile app? Yes, the mobile app allows forex trading with the same execution quality as desktop or web platforms.

5. Are all forex pairs available 24/5? Most are, but some exotic pairs may have limited hours based on the region’s market hours or holidays.

6. Is IBKR good for forex scalping? It can be, especially with tight spreads and fast execution. Just be aware of the minimum order sizes and your chosen platform’s layout.