Interactive Brokers Review: Pros & Cons | 2023 Update
This Interactive Brokers review has been updated for 2023 by industry experts with years of financial experience in Forex, CFDs, & Social Trading. We have worked to gather hundreds of data points about Interactive Brokers to give you the most comprehensive guide available.
Interactive Brokers is a reputable trading partner that was founded in 1977. They have around 2047 employees that help the company provide Brokerage, Finance, Investment Banking, to 1,000,000+ customers through Web Trader, NinjaTrader, Tablet & Mobile apps.
Interactive Brokers Guide – Read our In-Depth Interactive Brokers Review
Interactive Brokers Rating: 7.78 / 10
This Interactive Brokers review page contains information about investing with Interactive Brokers. It is intended for educational purposes only and should never be considered financial advice. comparebrokers.org is not a brokerage or advisory service. We do not recommend or advise that investors buy or sell securities or stocks.
All of the information about the brokers you see reviewed on comparebrokers.org come from our partners, some of whom we have an affiliate relationship with. These partners do not control the content on the page beyond providing us with datapoints to ensure that (as far as possible) the information in our database is accurate. The datapoints provided are used to calculate a rating based on what we beileve has the most benefit to their users. Our proprietary rating algorithm takes all of the datapoints to generate the rating. This keeps things fair and removes human bias to ensure that our users can compare brokers easily and find the best ones for their needs.
Please note that due to regulations, the content in this review of Interactive Brokers does not apply to users in Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
This Interactive Brokers review contains the latest details surrounding Interactive Brokers.
If you're new to the realm of online trading and brokerages, so many facts will no doubt be confusing for you. Getting into the world of online trading requires expert assessing skills and thorough knowledge. You will acquire adept at all of the concepts of trading online and brokers while you keep trading. For starters, you have to choose the ideal online trading platform who'll consistently be clear with you.
Within the fast-paced world of financial markets and trading, you will need advice to make correct decisions. A professionally lead investment online trading platform could aid you in minimising any losses and maximising any returns. Interactive Brokers is one such stage which can assist you. It is crucial to learn about any broker before you trust them with your money.
When engaging in online trading with platforms such as Interactive Brokers, it's crucial to meticulously examine Interactive Brokers as your broker, as this choice can determine your success. Selecting the right broker is vital for your Interactive Brokers investments to thrive. However, be cautious of counterfeit and untrustworthy brokers hiding in the shadows, ready to exploit naive traders.
It's essential to be cautious and methodical in your Interactive Brokers broker selection to protect your hard-earned money. Performing your due diligence and researching the trustworthiness of Interactive Brokers, its track record, and reputation is vital. Moreover, ensure the Interactive Brokers broker's offerings, trading tools, fees, and regulation align with your objectives.
Remember, Interactive Brokers should be a trusted partner on your trading journey.
Our team has strived to simplify the intricate world of trading with Interactive Brokers into easily understandable information in this Interactive Brokers review. Our goal is to equip you with the knowledge necessary to confidently use Interactive Brokers trading tools, ranging from depositing and withdrawing funds to executing trades.
We recognize that well-informed decisions with Interactive Brokers are the cornerstone of successful trading. As such, we've provided this in-depth Interactive Brokers review. So, settle in, grab a cup of coffee, and immerse yourself in learning about Interactive Brokers and how it can work to your advantage, or if Interactive Brokers might not be the right fit for you.
Interactive Brokers Guide for 2023 – Quick Overview
| Interactive Brokers Telephone: | +1 203 618 5800 |
| Interactive Brokers Support Email: | support@interactivebrokers.com |
| Interactive Brokers Address: | One Pickwick Plz, Greenwich, Connecticut 06830, US |
| Year Founded: | 1977 |
| Regulated By: | the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. Is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Is regulated by the Central Bank of Ireland (CBI, reference number C423427). Is licensed and regulated by the Central Bank of Hungary (Magyar Nemzeti Bank) under no. H-EN-III-623/2020. Is regulated by the Hong Kong Securities and Futures Commission. Is a member of NSE, BSE, SEBI. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Is regulated by Kanto Local Finance Bureau (Registration No.187). Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917). |
| Hedquarters: | United States |
| Minimum Deposit: | $1 |
| Number Of Clients: | 1,000,000+ Interactive Brokers users and traders |
| Interactive Brokers TrustPilot: | https://uk.trustpilot.com/review/interactivebrokers.com |
| Interactive Brokers LinkedIn: | https://www.linkedin.com/company/interactive-brokers/ |
| Interactive Brokers Facebook: | https://www.facebook.com/InteractiveBrokers/ |
| Interactive Brokers Facebook Likes: | 156,364 |
| Interactive Brokers Twitter: | @IBKR |
| Interactive Brokers Twitter Followers: | 245,500 |
| Interactive Brokers Instagram: | https://www.instagram.com/interactivebrokers |
| Interactive Brokers Instagram Followers: | 9,869 |
| Interactive Brokers Youtube: | https://www.youtube.com/interactivebrokers |
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The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed income can be substantial. Options are not suitable for all investors. |
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Our entire Interactive Brokers review for beginners covers everything you need to know about trading with Interactive Brokers. A fantastic broker can use your first investments and help to protect it from losses but also provide you a platform that can help to give you profits. If you would like to earn profits, you should trade with a broker service that aligns with your investment objectives.
Of course, there is no sure-fire method to guarantee profits; therefore, you must carefully assess your agent before you choose them. It's a common misconception that all brokers will be exactly the same, but that is not true. Wrong judgment, initially, can set your investments in danger.
Interactive Brokers is a trading partner which has paved its way successfully into the brokerage world. Within this review, we have attempted to collate some of the important aspects of Interactive Brokers. This guide can allow you to learn whether Interactive Brokers is a fantastic match for your own investments or not. We've attempted to breakdown all the qualities and charges for your advantage.
Who are Interactive Brokers?
Interactive Brokers is a online trading broker with its head office in United States and provides a variety of tools for trading. Since its beginning in 1977 they have emerged as a top player in the field of online trading. Interactive Brokers has an extremely reputable and full-featured trading website that's focused on currency, indices, metals, shares, commodities.
Over the past 46 years, Interactive Brokers has become one of the leading online brokers available to the public.
After launching in 1977, their consumer base has increased to 1,000,000+ clients.
Interactive Brokers is a favourite for many traders . Our Interactive Brokers account review found that they're a superb solution for online trading options. They're most appropriate for investors that are looking for an assortment of assets. Social and easy to use trading options are the heart at Interactive Brokers.
Technology plays a significant role at Interactive Brokers. They offers trading on Web Trader, NinjaTrader, Tablet & Mobile apps. Interactive Brokers is honest, transparent, and a well-regulated broker by the the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. Is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Is regulated by the Central Bank of Ireland (CBI, reference number C423427). Is licensed and regulated by the Central Bank of Hungary (Magyar Nemzeti Bank) under no. H-EN-III-623/2020. Is regulated by the Hong Kong Securities and Futures Commission. Is a member of NSE, BSE, SEBI. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Is regulated by Kanto Local Finance Bureau (Registration No.187). Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917).. Their outstanding variety of tools will be beneficial for the majority of traders. Third-party partnerships also supply in-house analysis.
Who Founded Interactive Brokers?
The founders of Interactive Brokers are Thomas Peterffy
The founders of Interactive Brokers are famous for their expertise in the world of internet trading. However, there are a lot of other important people at Interactive Brokers who have a substantial impact on it's success.
The trader resource department at Interactive Brokers is quite enlightening for new dealers as it permits them to get a closer look in the financial markets. Interactive Brokers caters to all sorts of traders and are a must-have broker for almost any well-diversified approach to online trading.
Interactive Brokers Review Videos
Benefits of online trading with Interactive Brokers in 2023
Trading with Interactive Brokers includes many advantages. These advantages are what sets Interactive Brokers ahead of all other online agents. You should check all of the advantages listed so you have a better comprehension of Interactive Brokers.
The broker goes to great lengths to comprehend what traders want. As a result, the service, quick, and convenient. The agent also provides a number of platforms for all kinds of traders. Interactive Brokers helps to ensure that the individual needs of all traders are met to the best of their capabilities.
Interactive Brokers also features excellent trading conditions that are readily available to all and not only an elite class of institutional customers. The tight spreads and fast executions are a fantastic advantage for all traders. The technology embraced by Interactive Brokers is among the highest caliber, making sure that it's fast, reliable, and efficient.
Interactive Brokers admits the importance of owning a quick order execution. A quick execution enables users to exchange without worrying about slippage safely. It is going to also help the dealers to catch any opportunities.
To build a strong community of traders and investors, and to encourage successful traders to share their wisdom, Interactive Brokers offers social trading which encompasses leading traders sharing their knowledge with the community. Interactive Brokers's social trading platform allows traders to share their expertise with others to build a community of investors and traders. Which stocks they are following, what stocks to buy, and what stocks to sell. Intermediate traders can then absorb this expert knowledge and create their own trades. It is a more independent version of copy trading
Interactive Brokers has over 100 trading instruments to support all types of traders. These instruments are lively and convenient for both new and experienced traders. All dealers can put aside all their worries when trading using Interactive Brokers.
Interactive Brokers Overview
Year Founded: 1977
Regulated By: the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. Is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Is regulated by the Central Bank of Ireland (CBI, reference number C423427). Is licensed and regulated by the Central Bank of Hungary (Magyar Nemzeti Bank) under no. H-EN-III-623/2020. Is regulated by the Hong Kong Securities and Futures Commission. Is a member of NSE, BSE, SEBI. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Is regulated by Kanto Local Finance Bureau (Registration No.187). Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917).
Hedquarters: United States
Minimum Deposit: $1
Number Of Clients: 1,000,000+
The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed income can be substantial. Options are not suitable for all investors.
If you feel that Interactive Brokers is not right for you then at the bottom of this Interactive Brokers review you will find a lot of alternatives to Interactive Brokers.
Everything you should know about trading using Interactive Brokers
Interactive Brokers is a lively platform that provides various techniques of trading. These tools cover the monetary markets substantially. The Majority of the brokerage platforms offer less methods than Interactive Brokers
If you wish to exchange with Interactive Brokers, you will need a minimum deposit of $1. This deposit is mandatory if you wish to begin trading with Interactive Brokers. This 2023 Interactive Brokers review will guide you easily about trading with them.
Interactive Brokers is as flexible as another brokerage platform. Interactive Brokers is great for traders who want a manageable selection of low-cost services. The programs offered by Interactive Brokers are third-party, white-label offerings. All traders can select out of Web Trader, NinjaTrader, Tablet & Mobile apps
Together with everything, Interactive Brokers has multiple benefits to new and verteran traders and should be investigated. There's no minimum time over which a transaction must be kept open. The agents provide premium client service which rewards clients with advantages.
Many unethical brokers try to pressurise customers into bigger financing for superior services. Interactive Brokers, on the other hand, is much more focused on trading volume. Traders can expect trading conditions to be just, honest and transparent. The more lots traded by the consumer, the greater benefits will come along.
Interactive Brokers accounts are available around the world and provides outstanding service wherever they have clients. There are some select few countries where Interactive Brokers accounts are not available. Traders in the following countries cannot open or use a Interactive Brokers account:
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Is Interactive Brokers Safe To Trade With In 2023?
Established in 1977, Interactive Brokers has been open for 46 years, they are headquarted in United States
Interactive Brokers is regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. Is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Is regulated by the Central Bank of Ireland (CBI, reference number C423427). Is licensed and regulated by the Central Bank of Hungary (Magyar Nemzeti Bank) under no. H-EN-III-623/2020. Is regulated by the Hong Kong Securities and Futures Commission. Is a member of NSE, BSE, SEBI. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Is regulated by Kanto Local Finance Bureau (Registration No.187). Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917).. These figures have rules that ensure that trading platforms have steps in place to keep investor's assets secured. This usually means that Interactive Brokers users do not need to worry about their money since it is segregated and safely kept in banks that are established. SSL encryption secures every user's private information also.
You are able to make use of a choice for 2 Factor Authentications (2FA) with Interactive Brokers for increased safety. An SMS for the confirmation code will be sent to a mobile phone. You will be asked to input this code to log in to your accounts.
Another concern with fiscal brokers with regards to safety may be manipulation of trading. This is highly disadvantageous for users on those platforms. Nonetheless, this is much more widespread in the example of Market Maker brokers who compete with customers on the platform.
Interactive Brokers Risk Disclaimer
The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed income can be substantial. Options are not suitable for all investors.
Pro's & Con's Of Trading With Interactive Brokers
Every online trading platform has a few pros and cons Interactive Brokers review would be complete without having a balanced approach. This Interactive Brokers review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
Interactive Brokers Pro's
Interactive Brokers is highly rated by us.
Interactive Brokers is regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. Is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Is regulated by the Central Bank of Ireland (CBI, reference number C423427). Is licensed and regulated by the Central Bank of Hungary (Magyar Nemzeti Bank) under no. H-EN-III-623/2020. Is regulated by the Hong Kong Securities and Futures Commission. Is a member of NSE, BSE, SEBI. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Is regulated by Kanto Local Finance Bureau (Registration No.187). Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917)..
Interactive Brokers has been trading for 46 years.
Interactive Brokers offers customer support over the phone.
Interactive Brokers provides customer support over email.
Interactive Brokers gives access to customer support over livechat.
Interactive Brokers is an award winning broker.
Interactive Brokers has a low minimum deposit requirement.
Interactive Brokers doesn't charge inactivity fees.
Interactive Brokers has over 100 employees.
Interactive Brokers offers social trading.
Interactive Brokers allows scalping.
Interactive Brokers allows hedging.
Interactive Brokers allows commodity trading.
You can trade metals with Interactive Brokers.
You can trade energies with Interactive Brokers.
Interactive Brokers Con's
Interactive Brokers doesn't offer guaranteed stop loss. Interactive Brokers doesn't offer negative balance protection. Interactive Brokers charges withdrawal fees. You can't trade Cryptocurrencies with Interactive Brokers. Interactive Brokers doesn't offer copy trading.Compare Brokers Similar To Interactive Brokers
Regulation And Licencing In More Detail
Interactive Brokers is regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. Is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Is regulated by the Central Bank of Ireland (CBI, reference number C423427). Is licensed and regulated by the Central Bank of Hungary (Magyar Nemzeti Bank) under no. H-EN-III-623/2020. Is regulated by the Hong Kong Securities and Futures Commission. Is a member of NSE, BSE, SEBI. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Is regulated by Kanto Local Finance Bureau (Registration No.187). Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917)..
Interactive Brokers, as a business, has a powerful collection of rules for ensuring fair trading onto its own platform. For data encryption purposes, it provides an industry-standard secure socket layer (SSL).
As per the company's privacy regulations, customer data is never to be shared with any other institutions or individuals. This includes credit history and other financial information.
Interactive Brokers Awards
Interactive Brokers have won numerous industry awards over the years they have been operating as an online broker. We detail the most notable awards for Interactive Brokers here.
- In 2019 Interactive Brokers was awarded Best Online Broker.
- In 2019 Interactive Brokers was awarded Top low cost-broker.
- In 2020 Interactive Brokers was awarded Best Broker for Low-Cost Investing.
- In 2021 Interactive Brokers was awarded Best Broker for Day Trading.
- In 2021 Interactive Brokers was awarded Best Online Broker for Bonds.
Interactive Brokers Trading Platforms
Interactive Brokers are a professional brokerage that has been open for over 46 years. They offer a large range of options in their user accounts.
Below we take the main parts of any good online brokerage and compare Interactive Brokers with Startrader, and freetrade.
Interactive Brokers MetaTrader 4 (MT4)
MetaTrader 4 also known as MT4 is one of the top trading platforms on the planet and has been in active use on financial markets since 2005. The MetaTrader 4 software delivers a feature-rich, user-friendly interface and an extremely customisable trading environment, designed to cover all your trading needs and boost your trading performance. Charting functionality and advanced order management tools make certain you could monitor your positions quickly and economically.
The MetaTrader 4 (MT4) trading platform was developed primarily to trade Forex but you can also trade other types of financial instruments through CFDs and Spread Betting. You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 (MT4) platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements.
You can start using the MetaTrader 4 platform with Interactive Brokers in multiple formats including through an online web platform, or through a downloadable application for Windows PC's and Mac's. Interactive Brokers MetaTrader 4 is compatible with the latest macOS. Interactive Brokers allows traders to trade on mobile devices through Android and iOS devices.
Metatrader 4 Webtrader and Interactive Brokers
MetaTrader 4 is the most popular trading platform in the world as most and more traders begin to trade online Metatrader 4 is available as a web based application available through your web browser. MetaTrader 4 web software provides the same easy to use performance as the desktop version using advanced charting, a highly customisable trading environment, easy to access online trading tools and many different indicators.
Trading With Interactive Brokers MetaTrader 4 On iOS Devices
You can download the Interactive Brokers app or also trade with Interactive Brokers through the MetaTrader 4 application on the Apple app store.
Download the Interactive Brokers MetaTrader 4 Program free of charge from Apple's App Store. Interactive Brokers customers have instant access to the Financial markets, with the ability to completely manage a Portfolio on the go.
Trading With Interactive Brokers MetaTrader 4 On Android Devices
Andorid mobile devices and tablets are used by millions of people globally. Interactive Brokers provides its clients access to the MetaTrader 4 platform on Android supported devices so that their 1,000,000+ customers can monitor the financial marketplace and trade directly from their Android-based Smartphones and tablets. The Android Interactive Brokers MetaTrader 4 application enables traders to make the most of multiple advanced trading features which enables them to monitor and trade quickly on the go, simply and securely.
Minimum Deposit Required
The minimum deposit you need to get started on Interactive Brokers is $1. This is a decent amount for people just starting out. You can make more complex residue as you go along. But, make certain that you understand how to make the most of your money before investing larger sums.
Commission And Fees Explained
Interactive Brokers is an online broker platform, and many online brokerages charge lower prices than traditional brokerages tend to bill. The cause of this is that the businesses of online brokerages are scaled better. In other words, an online broker is not necessarily influenced by the number of customers they have.
But this doesn't necessarily mean that online brokers do not charge any fees. They charge fees of varying rates for a variety of services to make money. There are primarily three different types of penalties for this purpose.
The first kind of fees to look out for are trading charges. When you make an actual trade, like buying a stock or an ETF, you are charged trading charges. In these cases, you're paying a spread, financing rate, or even a commission. The sorts of trading fees and the rates vary from broker to broker.
Commissions can be fixed or dependent on the traded quantity. On the other hand, a spread refers to the gap between the buying and selling price. Financing or overnight rates are people who are charged when you maintain a leveraged position for longer than a day.
Apart from trading charges, online agents also bill non-trading fees. These are dependent on the actions you undertake on your accounts. They're billed for things like depositing money, not investing for lengthy periods, or withdrawals.
In general, Interactive Brokers doesn't charge high fees in comparison to other online agents. For operations other agents charge for, they do not charge a brokerage fee, or they charge a smaller amount. This can be beneficial for people who often trade, such as daily or weekly trading.
However, non-trading fees billed by Interactive Brokers are comparatively greater. As a result, you are billed more for non-trading activities on your trading accounts, like withdrawal and deposits. These are not related to the purchase and sale of resources.
This Interactive Brokers review breaks down each of the relevant non-trading charges for you in detail.
Compare Broker Fees Of Interactive Brokers
Interactive Brokers Withdrawal Fees Explained
Interactive Brokers charges a withdrawal fee if you create a bank transfer. Each time you transfer money into your bank account, these withdrawal fees become applicable.
Withdrawal of money is possible at any time from the Interactive Brokers account. It's possible to withdraw up sums to the sum of your account balance, keeping aside the perimeter used. 1 thing to remember is that you don't necessarily need to have any cash on your accounts.
Moreover, the withdrawn money will be moved directly to the account you use to make deposits. Thus, if you used a credit card for deposits, then the withdrawn money will be sent to the cardInteractive Brokers will ask you to offer other withdrawal methods if your details have changed since your deposit.
There is a minimum withdrawal amount. In the event you're withdrawing money in different currencies from USD, a conversion fee is also important. The conversion fee will depend on the currency you are opting to draw in.
Interactive Brokers Inactivity Fees Explained
Interactive Brokers doesn't charge inactivity fees so you are free to utilize your account as needed
Even if no fees are implied by Interactive Brokers, it is better for you to close the account if you're inactive. Inactivity fees are not just charged by broker firms but also many financial services.
For additional trading platforms, the inactivity fee depends upon the type of account you've chosen. The inactivity fee is subjected to many conditions and should be disclosed clearly by the broker beforehand.
Interactive Brokers Deposit Fees Explained
When you move money in your trading account from your bank account, a deposit fee can be billed by the broker. Most brokers don't charge an excessive amount of money for this particular operation.
Interactive Brokers doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed
Depositing money onto the Interactive Brokers trading platform is easy. You simply need to complete a single-user profile survey to start depositing money into your trading account. You will have to provide an identity evidence and proof of residency to deposit large amounts.
Compare Interactive Brokers Vs Other Broker Deposit Methods
What Can You Trade With Interactive Brokers in 2023?
Note: Interactive Brokers provides a lot of different trading instruments due to regulatory restrictions in a few countries. Trading instruments offered may be different depending on the country of residence of the client.
Interactive Brokers has a wide variety of over 100 instruments available for you to trade with.
If trading forex pairs is of interest to you then Interactive Brokers offer over 54 currency pairs.
Compare Interactive Brokers, Startrader & freetrade below.
Interactive Brokers Trading App Review
Note: Interactive Brokers's mobile app has a lot of functions and is being constantly improved. The table below was correct at the time of compiling this Interactive Brokers broker review.
Understand the capabilities of the mobile apps of Interactive Brokers, Startrader & freetrade below.
Trading Education Available At Interactive Brokers
Understand the trading resources available with Interactive Brokers, Startrader & freetrade below.
Interactive Brokers Customer Support
In our Interactive Brokers broker review we examined the customer service options, response times and on the Interactive Brokers trading platform problem resolution effectiveness. Interactive Brokers provides support in a wide range of languages, including English, and Chinese
Interactive Brokers Live Chat Support
We tried the livechat experience with Interactive Brokers, and it was very effective. We have sent messages via Interactive Brokers livechat through their app and website and got a reply within 20 seconds. Sometimes , there was no response.
We have tested communication via Interactive Brokers support in multiple languages and in various countries. Interactive Brokers were able to resolve our client's issues.
Interactive Brokers Phone Support
We made a call to Interactive Brokers and the call was answered very quickly. We were able to have the call answered within less than 5-10 minutes.
The Interactive Brokers phone support team were able to effectively address our queries and problems via phone. We tested the multilingual Interactive Brokers team by calling in varying languages. Interactive Brokers made an effort to ensure our queries were answered.
The overall support via phone from Interactive Brokers was satisfactory.
Interactive Brokers Email Support
We sent several email to Interactive Brokers and answer times overall were outstanding. The fastest email response from Interactive Brokers was 2 hours and the longest response time was 3 days! Sometimes , there was no response. Response times to support may differ for you at Interactive Brokers, but this was our experience sending 10 emails at varying times.
The team was able to resolve and answer our queries. Overall average email support from Interactive Brokers was acceptable.
Alternatives To Interactive Brokers
If, after studying this Interactive Brokers review, they do not quite meet your requirements check out these Interactive Brokers alternatives.
We've scoured the internet to find the best alternatives to Interactive Brokers. Click on the links below to find out more.
Frequently Asked Questions
Can I try Interactive Brokers before I buy?
Yes, you can most definitely try Interactive Brokers before you buy. Interactive Brokers offers demo accounts for the ease of beginner traders. You may use this feature to build your faith in the system as well as yourself and your trading strategies.
If you sign up for a demo account with Interactive Brokers, you may set out using a decent amount of virtual currency. It is to establish a feeling of safety and confidence in you until you decide to spend your own money.
With a digital Interactive Brokersdemo account, you are able to experiment at all, to whatever period you wish. You might even start positions, test different trading strategies, and more.
Interactive Brokers shows on its official website that you can trade real time stocks with your demo account.
Is Interactive Brokers safe?
You can drop all of your worries since we believe that Interactive Brokers is perfectly safe to use. It is in compliance with the rules of the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. Is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Is regulated by the Central Bank of Ireland (CBI, reference number C423427). Is licensed and regulated by the Central Bank of Hungary (Magyar Nemzeti Bank) under no. H-EN-III-623/2020. Is regulated by the Hong Kong Securities and Futures Commission. Is a member of NSE, BSE, SEBI. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Is regulated by Kanto Local Finance Bureau (Registration No.187). Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917)..
Nevertheless, Interactive Brokers does not provide assured stop-loss protection.
Why does Interactive Brokers ask for my passport?
The reason that Interactive Brokers asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, Interactive Brokers has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, Interactive Brokers must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.
How can I start trading with Interactive Brokers?
The process to start trading with Interactive Brokers is super simple. You need to begin by signing up on the Interactive Brokers website. It will require you to fill in details pertaining to the credibility and security of your account. You will probably also have top go through the standard KYC (Know Your Customer) checks but Interactive Brokers are normally pretty quick with this.
Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live account with Interactive Brokers is $1. You should have a good {understanding of|hold over} the {details|nuances} of online trading before you set out and trade with real money as losses can exceed deposits.
If you are confident of your knowledge and understanding, you can open an account with Interactive Brokers.
The best way to kickstart your trading career with Interactive Brokers is to open a demo account facility before risking any real money
What funding methods do Interactive Brokers accept?
There are a number of ways to fund your accounts with Interactive Brokers. The process is effortless and quick, with various payment methods at your fingertips.
You can use credit or debit cards ranging from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal can be at your disposal for depositing money. You have to keep in mind that PayPal isn't available in all country. The monies Interactive Brokers accepts for deposit are USD, GBP, AUD, EUR, NZD, CHF, ZAR, SGD, JPY, CAD.
Other deposit techniques you can embrace are Neteller, Skrill, Rapid Transfer, and iDeal. Besides online banking, wire transfer is an opportunity as well, though it takes about 4-7 days.
Is my money safe with Interactive Brokers?
Yes, your cash is safe and protected with Interactive Brokers. As you know, Interactive Brokers works with good conformation to regulations. It's established lots of steps to protect all its own investors.
Interactive Brokers safeguards its customers' private and sensitive information under SSL encryption. Your funds will be retained highly secure in top-tier banks.
If you wish to further safeguard your account, it is possible to enable Two-Step Verification also. It takes an SMS confirmation that you get your account.
Is Interactive Brokers trading good?
Yes, trading via Interactive Brokers is a nice and good experience indeed. It is a great and intuitive platform with useful features for your simplicity. Moreover, you can even gain access to a vast selection of educational resources and assistive substance to kickstart your trading experience.
If you remain skeptical, you can start a eToro demo account and evaluate the credibility of the platform for yourself.
Which Countries do Interactive Brokers support?
Interactive Brokers operates around the globe. However, due to regulations Interactive Brokers doesn't accept clients resident in Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Is Interactive Brokers legit?
Interactive Brokers is a legit company headquarted in United States since 1977. They are regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. Is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Is regulated by the Central Bank of Ireland (CBI, reference number C423427). Is licensed and regulated by the Central Bank of Hungary (Magyar Nemzeti Bank) under no. H-EN-III-623/2020. Is regulated by the Hong Kong Securities and Futures Commission. Is a member of NSE, BSE, SEBI. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Is regulated by Kanto Local Finance Bureau (Registration No.187). Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917).. Interactive Brokers is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.
Is Interactive Brokers a good broker?
Interactive Brokers is a great agent, and its users can vouch for it. The highlight of the platform is its fast order execution on transactions.
You will find the clean layout of this platform and the admirable features that are pleasant to work with.
Is Interactive Brokers a trustworthy broker?
Yes, Interactive Brokers is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 1,000,000+ users registered with them can affirm to their trustworthy nature.
Click here to see the Interactive Brokers TrustPilot page
What is the minimum deposit for Interactive Brokers?
The minimum deposit to open a live account with Interactive Brokers is $1
How long do Interactive Brokers withdrawals take?
Normally, withdrawal of money from Interactive Brokers is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for a withdrawal from Interactive Brokers to show in your bank account and withdrawls are available in any of the following currencies.
USD, GBP, AUD, EUR, NZD, CHF, ZAR, SGD, JPY, CAD
Is Interactive Brokers regulated?
Interactive Brokers are regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. Is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Is regulated by the Central Bank of Ireland (CBI, reference number C423427). Is licensed and regulated by the Central Bank of Hungary (Magyar Nemzeti Bank) under no. H-EN-III-623/2020. Is regulated by the Hong Kong Securities and Futures Commission. Is a member of NSE, BSE, SEBI. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Is regulated by Kanto Local Finance Bureau (Registration No.187). Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917).
Is Interactive Brokers a market leading broker?
Interactive Brokers is currently among the industry leaders. It supports over 1,000,000+ registered users and over 46 years of experience on its record. They are one of the world's leading trading platforms and a prominent figure in the Fintech revolution.
It simplifies this status to its unbelievable platform and broad selection of tools plus resources so you can put money into capital markets.
Is Interactive Brokers a con?
No, Interactive Brokers is not a con. They are regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. Is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Is regulated by the Central Bank of Ireland (CBI, reference number C423427). Is licensed and regulated by the Central Bank of Hungary (Magyar Nemzeti Bank) under no. H-EN-III-623/2020. Is regulated by the Hong Kong Securities and Futures Commission. Is a member of NSE, BSE, SEBI. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Is regulated by Kanto Local Finance Bureau (Registration No.187). Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917). and must adhere to their rules. Thus, it is safe to say that Interactive Brokers is not a scam.
Can you make money with Interactive Brokers?
Through Interactive Brokers, several traders make a great deal of money. However, just like all online brokers, it is important to note that traders can also lose money. In particular, The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed income can be substantial. Options are not suitable for all investors.
This can look like a small number, but within the year, it quickly adds to a significant number of gains. Even though Interactive Brokers supply you all the tools to earn money, they cannot guarantee you will profit.
Does Interactive Brokers have fees?
Yes. To start trading using Interactive Brokers, you need to deposit $1. Certain commissions while trading also applies. Any processing fees from your bank will need to be incurred by you.
When was Interactive Brokers founded?
Interactive Brokers was founded in 1977 in United States. Interactive Brokers is regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. Is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Is regulated by the Central Bank of Ireland (CBI, reference number C423427). Is licensed and regulated by the Central Bank of Hungary (Magyar Nemzeti Bank) under no. H-EN-III-623/2020. Is regulated by the Hong Kong Securities and Futures Commission. Is a member of NSE, BSE, SEBI. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Is regulated by Kanto Local Finance Bureau (Registration No.187). Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917)..
How many people use Interactive Brokers?
Interactive Brokers is a worldwide recognised broker with 1,000,000+ customers.
Where is the Interactive Brokers head office?
Interactive Brokers has its head office in United States
Does Interactive Brokers offer negative balance protection?
No. Interactive Brokers doesn't offer negative balance protection. If your balance is negative, Interactive Brokers indicates that you contact client services. With this, you are able to fix any imbalances in your account.
Does Interactive Brokers offer guaranteed stop loss?
Interactive Brokers, unfortunately, does not provide guaranteed stop loss. Interactive Brokers provides a chance to its traders to close their trades at their specified price. Aside from that, Interactive Brokers does not provide guaranteed stop loss.
Does Interactive Brokers allow scalping?
Yes, Interactive Brokers does allow scalping. Many traders throughout the world select Interactive Brokers for their services that are trading. They offer trading on Web Trader, NinjaTrader, Tablet & Mobile apps which let this.
Does Interactive Brokers allow hedging?
Yes, Interactive Brokers does allow hedging.
Can you trade energies with Interactive Brokers?
Yes, you can trade energy stocks with Interactive Brokers
Can you trade agricultural shares with Interactive Brokers?
Yes, you can trade agricultural stocks with Interactive Brokers
Can you trade cryptocurrency with Interactive Brokers?
No, unfortunately you cannot trade cryptocurrency with Interactive Brokers
Can you trade metals with Interactive Brokers?
Yes, you can trade metals with Interactive Brokers
Can you trade UK Shares with Interactive Brokers?
Yes, you can trade UK shares with Interactive Brokers
Can you trade US Shares with Interactive Brokers?
Yes, you can trade US shares with Interactive Brokers
Can you trade Japanese Shares with Interactive Brokers?
Yes, you can trade Japanese shares with Interactive Brokers
Can you trade German Shares with Interactive Brokers?
Yes, you can trade German shares with Interactive Brokers
Does Interactive Brokers accept bank transfers?
Yes, Interactive Brokers accepts bank transfers for depositing money.
Does Interactive Brokers accept credit cards?
Yes, Interactive Brokers accepts credit cards for depositing money.
Does Interactive Brokers accept PayPal?
No, Interactive Brokers does not accept PayPal.
Does Interactive Brokers accept Skrill?
No, Interactive Brokers does not accept Skrill.
Does Interactive Brokers accept Payoneer?
Yes, Interactive Brokers accepts Payoneer for depositing money.
Payoneer, an American financial services company, offers online money transfer and digital payment services. It also provides working capital to customers.
Account holders can send and receive funds using an e-wallet, a virtual bank account number in a local currency or a re-loadable prepaid MasterCard debit card. Money received can then be withdrawn to a bank account or used online / at points of sale with the Payoneer debit card. The company specializes in facilitating cross-border B2B payments. It provides cross-border transactions in 200 countries and territories and more than 150 local currencies, with its cross border wire transfers, online payments, and refillable debit card services.
Companies like Airbnb, Amazon, Google and Upwork use Payoneer to send mass payouts around the world. It's also used by eCommerce platforms like Rakuten, Walmart, Wish.com, and freelance marketplaces like Fiverr, Envato, and works in conjunction with ad networks to link these companies with publishers based out of their headquartered countries.
Payoneer is a content creator and works with Pond5, iStock, Pond5 and other companies as well as the freelance market.
Payoneer's customer service team includes 320 employees that support 4,000,000 customers in 70 languages and in 150 currencies.
The company launched a service in October 2019 that allows small and medium-sized companies to send money anywhere in the world fast and cheaply.
Does Interactive Brokers accept Neteller?
No, Interactive Brokers does not accept Neteller.
Does Interactive Brokers offer Live Chat customer support?
Yes, Interactive Brokers offers customer support through live chat.
Does Interactive Brokers offer phone customer support?
Yes, Interactive Brokers offers customer support over the telephone.
Does Interactive Brokers offer email customer support?
Yes, Interactive Brokers offers customer support through email.
What languages can Interactive Brokers communicate in?
Interactive Brokers has the ability to communicate and support customers who speak: English, and Chinese
Does Interactive Brokers have a wikipedia page?
Yes, Interactive Brokers does have a wikipedia page. It can be found at https://en.wikipedia.org/wiki/Interactive_Brokers
Does Interactive Brokers offer demo accounts?
Yes, Interactive Brokers offers virtual portfolio accounts so you can test your trading strategies before risking any real money. New traders can open a virtual portfolio account in order to better understand the aspects of Forex trading and test out some of the features before risking a live account.
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