Interactive Brokers review: Interactive Brokers is a US-based brokerage firm that offers a wide range of financial products and services to traders and investors around the world. Founded in 1978, the company has grown to become one of the largest online brokers, serving over 1 million clients across more than 200 countries and territories.
One of the key features of Interactive Brokers is its extensive range of financial products. The company offers trading in a wide range of assets, including stocks, options, futures, forex, bonds, and funds. This allows traders to diversify their portfolios and access a variety of different investment opportunities.
In addition to its extensive product range, Interactive Brokers is known for its advanced trading platform. The platform is highly customizable and offers a range of advanced features, such as algorithmic trading, market data analysis tools, and advanced order types. This makes it a popular choice among professional traders who require a high level of functionality and flexibility in their trading platforms.
| 💵 Currency: | Multiple, including USD, EUR, GBP, AUD, CAD, JPY, CHF, and more |
| 💰 Min deposit | $0 for a cash account, $2,000 for a margin account |
| ⚖️ Leverage | Up to 40:1 for forex trading, and up to 4:1 for stocks and other instruments |
| 💱 Spread | Competitive, with some spreads as low as 0.1 pips |
| 💹 Markets | A diverse range of markets, including stocks, options, futures, forex, bonds, and more |
| 📱 Mobile apps | iOS, Android |
| 🗺️ Headquarters | United States |
Overall Interactive Brokers Review
Overall, Interactive Brokers is a highly respected and popular online broker that offers a wide range of financial products and services. While there may be some potential drawbacks to using the platform, its advanced features, low pricing, and extensive product range make it a popular choice for many traders and investors.
Go to Interactive Brokers website
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Geographic Distribution
Geography of clients (traders) of Interactive Brokers
Top Reviews
Best customer reviews of Brokers
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Interactive Brokers has been a great platform for me as a professional trader. The advanced trading tools and features, such as the algorithmic trading capabilities and market data analysis tools, are essential for my trading strategies. The pricing structure is also very attractive, with some of the lowest commissions and fees in the industry. The customer service has also been top-notch, with helpful representatives always available to answer my questions and address any issues.
United States
Overall, my experience with Interactive Brokers has been decent. The platform is highly customizable and offers a wide range of financial products, which is a plus. However, the complexity of the platform can be overwhelming for beginners, and the fee structure can be confusing at times. Additionally, I have experienced some technical issues with the platform in the past, which can be frustrating.
Canada
I have had a very negative experience with Interactive Brokers. The complex fee structure can be difficult to navigate, and I have found myself paying more in fees than I expected. Additionally, the platform is very difficult to use, and the learning curve is steep. I have also experienced technical issues with the platform, which have caused me to miss out on trading opportunities. The customer service has been poor, with representatives often unable to provide clear answers to my questions or resolve issues in a timely manner. Overall, I would not recommend Interactive Brokers to other traders.
Switzerland
Expert Review
Expert Review of Interactive Brokers
Interactive Brokers is a well-respected online broker that has been in operation since 1978. The company serves over 1 million clients across more than 200 countries and territories, making it one of the largest online brokers in the industry. One of the key advantages of Interactive Brokers is its reputation for reliability and security.
The company is regulated by several leading regulatory bodies, including the US Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and the UK Financial Conduct Authority (FCA). This gives traders and investors the peace of mind of knowing that their investments are protected by a range of strict regulations and safeguards.
In addition to its regulatory oversight, Interactive Brokers has a range of security measures in place to protect its clients' investments. This includes two-factor authentication, secure logins, and a range of other security features designed to prevent unauthorized access to accounts.
Another advantage of Interactive Brokers is its financial stability. The company is publicly traded on the NASDAQ exchange and has a strong financial position, with a healthy balance sheet and a history of consistent profitability.
Overall, I would rate Interactive Brokers as a highly reliable online broker. The company has a strong reputation for security and regulatory compliance, and its financial stability makes it a safe choice for traders and investors looking for a reliable and trustworthy platform for their investments.
Financial expert and analyst at TradersHero.com
Risk Warning! Trading on Interactive Brokers involves a high level of risk and may not be suitable for all investors. It is important to carefully consider your investment objectives, level of experience, and risk tolerance before trading on the platform. You should be aware that there is a risk of losing some or all of your investment, and you should only invest funds that you can afford to lose. It is recommended that you seek advice from an independent financial advisor if you have any doubts or questions regarding the suitability of trading on Interactive Brokers.
Copy Trading
Investment Programs
Interactive Brokers offers a range of social trading features, including copy trading, through its proprietary platform, Trader Workstation (TWS). Copy trading on Interactive Brokers allows traders to automatically replicate the trades of other successful traders, providing an easy way to access the expertise of other market participants.
IBKR CopyTrade is a feature offered by Interactive Brokers that allows traders to automatically replicate the trades of other successful traders on the platform.
One of the key advantages of copy trading on Interactive Brokers is that it allows traders to access a wider range of trading strategies and ideas than they might be able to develop on their own. By copying the trades of other traders, users can diversify their trading portfolios and potentially improve their overall returns.
However, it is important to remember that copy trading also carries risks. While it can be a valuable tool for traders, it is important to choose the right traders to copy, as not all traders will have a track record of success. Additionally, traders should always carefully consider the risks and rewards of each trade, even when copying the trades of others.
Overall, copy trading on Interactive Brokers can be a valuable tool for traders looking to access new trading strategies and ideas. However, as with any trading strategy, it is important to carefully consider the risks and potential rewards before making any investment decisions.
One key difference of IBKR CopyTrade from other copy trading platforms is the transparency it provides to traders. IBKR CopyTrade allows traders to view the trading history and performance of the traders they are considering following, including their past trades, profits, and losses. This allows traders to make informed decisions about which traders to follow and copy.
Additionally, IBKR CopyTrade allows traders to set their own risk parameters and limits for each trader they follow, giving them more control over their investments. Traders can also choose to stop following and copying a trader at any time, giving them flexibility and control over their own trading strategies.
Best Copy Trading Platforms
Conditions
Trading Conditions for Interactive Brokers Traders
Interactive Brokers is a brokerage firm that offers a wide range of trading conditions for its clients. They provide access to a diverse range of markets, including stocks, options, futures, forex, bonds, and more. The firm offers a range of account types to suit different trading needs, including individual, joint, trust, and more.
Interactive Brokers requires a minimum deposit of $0 for a cash account and $2,000 for a margin account. They offer leverage of up to 40:1 for forex trading, and up to 4:1 for stocks and other instruments.
One of the key advantages of trading with Interactive Brokers is their competitive spreads. They offer very low spreads on their trading instruments, with some spreads as low as 0.1 pips. Additionally, Interactive Brokers charges low commission rates on their trades, with some trades as low as $0.005 per share.
Interactive Brokers provides a range of trading platforms to suit different needs. The Trader Workstation (TWS) is their flagship platform, offering advanced charting and analysis tools, real-time market data, and more. IBKR Mobile is a mobile trading platform that allows traders to manage their accounts on the go.
The platform also provides 24/7 customer service and support, including phone, email, and chat support. Overall, Interactive Brokers provides favorable trading conditions for traders, with competitive spreads, low commissions, and a wide range of markets and account types to choose from.
| 💵 Currency | Multiple, including USD, EUR, GBP, AUD, CAD, JPY, CHF, and more |
| 💰 Min deposit | $0 for a cash account, $2,000 for a margin account |
| ⚖️ Leverage | Up to 40:1 for forex trading, and up to 4:1 for stocks and other instruments |
| 💱 Spread | Competitive, with some spreads as low as 0.1 pips |
| 💹 Markets | A diverse range of markets, including stocks, options, futures, forex, bonds, and more |
| 📱 Mobile apps | iOS, Android |
| 💵 Replenishment / Withdrawal: | Multiple options, including bank transfer, credit/debit card, and electronic payments |
| 🏦 Broker Type: | Direct access to multiple exchanges, ECN, STP |
| 📞 Customer Service | 24/7 customer service and support, including phone, email, and chat support |
| 👩💼 Support | Multilingual |
| 👨💼 Personal Account Manager | ✅ |
| 🔁 Copy Trading | ✅ |
| 🔓 Demo account | ✅ |
| 🗺️ Headquarters | United States |
Risk Warning
Comparison
Comparison of Interactive Brokers with other Brokers
Broker comparison table of trading instruments
Commissions
Interactive Brokers Accounts, Commissions & Fees
Interactive Brokers offers several account types with varying commissions and fees, depending on the trader's needs and trading volume. Here is a breakdown of the main account types and associated costs:
- IBKR Lite Account: This account type is designed for casual traders and has no commissions. However, there are still some fees to be aware of, such as a $0.65 per contract fee for options trades and a monthly inactivity fee of $10 for accounts with less than $100,000.
- IBKR Pro Account: This account type is designed for professional traders and has a tiered commission structure based on trading volume. The commissions for stocks and ETFs start at $0.005 per share, with a minimum commission of $1.00 per trade. The commissions for options trades start at $0.25 per contract. There is also a monthly inactivity fee of $10 for accounts with less than $100,000.
- Advisor Account: This account type is designed for registered investment advisors (RIAs) and has a tiered commission structure based on trading volume. The commissions for stocks and ETFs start at $0.0035 per share, with a minimum commission of $0.35 per trade. The commissions for options trades start at $0.35 per contract.
- Proprietary Trading Group Account: This account type is designed for proprietary trading groups and has a commission structure based on trading volume. The commissions for stocks and ETFs start at $0.002 per share, with a minimum commission of $0.35 per trade. The commissions for options trades start at $0.15 per contract.
| Account type | IBKR Lite | IBKR Pro | Advisor | Proprietary |
|---|---|---|---|---|
| Commissions | $0 | Tiered | Tiered | Tiered |
| Minimum Deposit | None | $0 | $0 | $0 |
| Trading Platforms | TWS, IBKR Mobile | TWS, IBKR Mobile | TWS | TWS |
| Customer Support | Phone, Chat, Email | Phone, Chat, Email | Phone, Chat, Email | Phone, Chat, Email |
| Stocks and ETFs Commissions | $0.00 per trade | $0.005 per share ($1.00 min) | $0.0035 per share ($0.35 min) | $0.002 per share ($0.35 min) |
| Options Commissions | $0.65 per contract | $0.25 per contract | $0.35 per contract | $0.15 per contract |
| Futures Commissions | $0.85 per contract | $0.25-$0.85 per contract | $0.25-$0.85 per contract | $0.25-$0.85 per contract |
| Forex Commissions | Spread-based | Tiered | Tiered | Tiered |
| Inactivity Fee | $10/month | $10/month | ||
| Market Data Fees | Optional | Required | Required | Required |
| Margin Fees | ✅ | ✅ | ✅ | ✅ |
In addition to these account types and associated commissions, Interactive Brokers also charges other fees such as market data fees, margin fees, and third-party fees for certain services. It's important for traders to review and understand all fees associated with their account type and trading activity to ensure they are aware of all costs involved.
Risk Warning
Final review
Detailed review of Interactive Brokers
Interactive Brokers (IB) is a brokerage firm that offers electronic trading platforms for trading assets such as stocks, options, futures, forex, and bonds. The company was founded in 1978 and is headquartered in Greenwich, Connecticut, USA. It is regulated by several financial authorities, including the US Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and the UK Financial Conduct Authority (FCA). Here is a detailed review of Interactive Brokers.
For those who are new to trading, Interactive Brokers can be a great option as a forex broker.
Interactive Brokers provides a range of trading platforms to cater to the needs of different types of traders. These platforms include Trader Workstation (TWS), IBKR WebTrader, and IBKR Mobile. TWS is the flagship platform that provides advanced trading tools and features for experienced traders. IBKR WebTrader is a web-based platform that is accessible from any computer with an internet connection. IBKR Mobile is a mobile app that allows traders to access their accounts on the go.
The platform offers a variety of pricing plans to suit the needs of different types of traders. The most popular plan is the IBKR Lite plan, which offers commission-free trading for US-listed stocks and ETFs. For other assets, the fees are competitive compared to other brokers. The minimum deposit required to open an account is $0 for IBKR Lite and $1,000 for IBKR Pro.
Interactive Brokers is a reliable and well-regulated brokerage firm that offers a range of trading tools and features for traders of all experience levels. The platform's advanced trading tools and low fees make it an attractive option for experienced traders, while the commission-free trading and educational resources make it a great choice for beginners. Overall, Interactive Brokers is a solid choice for traders looking for a reliable and feature-rich trading platform.
Advantages:
Interactive Brokers Regulator
The US Securities and Exchange Commission (SEC)
The US Securities and Exchange Commission (SEC) is a federal agency responsible for enforcing federal securities laws and regulating the securities industry in the United States. As a registered broker-dealer with the SEC, Interactive Brokers must comply with a range of regulations to protect investors, maintain fair and orderly markets, and prevent fraudulent and manipulative practices. This includes adhering to strict financial reporting requirements, conducting regular audits, and implementing effective risk management procedures.
Regulator website: The US Securities and Exchange Commission (SEC)
Financial Conduct Authority (FCA)
The UK's Financial Conduct Authority (FCA) is a financial regulatory body that oversees the activities of financial firms operating in the UK, including Interactive Brokers. As a registered broker-dealer with the FCA, Interactive Brokers must comply with a range of regulations, including those relating to customer protection, conduct of business, and prudential standards. The FCA also maintains a register of regulated firms, allowing investors to check the status of a broker before investing with them.
Website: Financial Conduct Authority (FCA)
The Financial Industry Regulatory Authority (FINRA)
The Financial Industry Regulatory Authority (FINRA) is a self-regulatory organization (SRO) that oversees the activities of broker-dealers in the United States. Interactive Brokers is a member of FINRA, which means that it must comply with FINRA rules and regulations, including those relating to trading practices, recordkeeping, and reporting. FINRA also provides a dispute resolution forum for customers who have complaints against broker-dealers.
Risk Warning
Promotions
Bonuses Paid by the Interactive Brokers
Interactive Brokers does not offer any bonus programs or promotions to its clients. This is in line with the company's overall business model, which focuses on providing low-cost, high-quality trading services to its clients rather than enticing them with bonuses and incentives. Additionally, offering bonuses and promotions can sometimes give the impression that a broker is trying to make up for other shortcomings or attract traders who are not necessarily a good fit for the platform. By focusing on providing excellent trading conditions and top-notch technology, Interactive Brokers has built a reputation as a reliable and trustworthy broker that caters to serious traders and investors.
Education
Review of the Interactive Brokers Education Program
Interactive Brokers offers a variety of educational resources for its clients, designed to help them improve their trading skills and make more informed investment decisions. Here is a detailed review of the Interactive Brokers Education Program:
Overall, the Interactive Brokers Education Program is a comprehensive resource that offers a variety of tools and resources for traders and investors of all skill levels. Whether you're a beginner or an experienced trader, Interactive Brokers has something to offer to help you improve your trading skills and achieve your financial goals.
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Rating and Comments
Interactive Brokers Users Reviews 2024
Authors:
Roman Mukhin
Financial expert, analyst and author
Jane Emberg
Financial analyst and editor
I had a very bad experience with Interactive Brokers. Their platform is very complicated and difficult to use, and their fees are outrageous. I also had a lot of trouble with their customer support team, who were unresponsive and unhelpful. Overall, I would not recommend Interactive Brokers to anyone.
Their platform is very reliable and offers many advanced trading tools. On the one hand, their platform is very reliable and offers many advanced trading tools. On the other hand, their commissions can be quite high, especially for small accounts. Also, their user interface can be a little overwhelming for beginners. Overall, I would say Interactive Brokers is a good option for experienced traders, but probably not the best choice for beginners.
I have been using Interactive Brokers for several years now and I am very satisfied with their platform. The trading tools are top-notch and the execution speed is lightning-fast. Their customer support team is also very helpful and responsive. Overall, I highly recommend Interactive Brokers to anyone looking for a reliable and professional trading platform.
Interactive Brokers is an excellent broker for traders who are looking for a wide range of markets to trade. They offer a huge selection of instruments, including stocks, options, futures, forex, and more. Their platform is also very powerful and offers a lot of advanced trading tools. I have been using Interactive Brokers for several years now and I have never had any problems with them.
I am very impressed with Interactive Brokers’ customer support team. They are always available to help me with any issues that I have, and they are very knowledgeable and professional. Their platform is also very user-friendly and offers a lot of advanced trading features. Overall, I would highly recommend Interactive Brokers to anyone looking for a reliable and professional broker.