Interactive Brokers Guide – Read our In-Depth Interactive Brokers Review
This Interactive Brokers review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations, the content in this Interactive Brokers review does not apply to US users.
If you are a new entrant in the realm of trading and broker, so many facts will be confusing for you. Getting into the world of trading demands expert assessing skills and comprehensive understanding. You will get proficient at all of the concepts of broker since you continue trading. For starters, you have to select the ideal broker who will be transparent with you constantly.
Within this fast-paced world of stock markets and trading, you'll need advice to make correct decisions. A professionally lead investment program will generate hefty returns. Interactive Brokers is just one such platform which will take you and your investment to great heights. It's crucial that you understand about Interactive Brokers until you trust them with your money.
Our entire Interactive Brokers Review covers all you will need to know about trading using Interactive Brokers. A good broker can multiply your initial investments and provide you positive profits. If you would like to make profits, you should trade with a broker service that contrasts with your investing goals.
There's absolutely no sure-fire way to guarantee profits; thus, you should carefully analyze 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 broker which has paved its way successfully into the brokerage world. Within this review, we have tried to collate some of the vital aspects of Interactive Brokers. This review can allow you to understand whether Interactive Brokers is a good fit for your own investments or not. We have tried to breakdown all the qualities and fees for your convenience.
Interactive Brokers Review, Table Of Contents
- Who are Interactive Brokers?
- Benefits Of Trading With Interactive Brokers
- Everything you should know about trading with Interactive Brokers
- Is Interactive Brokers Safe To Trade With?
- Pro's & Con's Of Trading With Interactive Brokers?
- Compare Brokers Similar To Interactive Brokers
- Regulation And Licencing In More Detail
- Interactive Brokers Awards
- Minimum Deposit Required For A Live Account With Interactive Brokers
- Interactive Brokers Commission And Fees Explained
- Compare broker fees against Interactive Brokers
- Interactive Brokers Withdrawal Fees Explained
- Interactive Brokers Deposit Fees Explained
- Compare Broker Deposit Methods
- What Can You Trade With Interactive Brokers?
- Alternatives To Interactive Brokers
- Frequently Asked Questions About Interactive Brokers
Who are Interactive Brokers?
Interactive Brokers is a foreign exchange broker headquartered in United States and provides a range of instruments for online trading. Since its beginning in 1977, Interactive Brokers has emerged as a top-tier player in the field of online broker. Interactive Brokers has an extremely competitive and full-featured trading website that's focused on currency, indices, metals, stocks and commodities.
Over the past 44 years, Interactive Brokers has grown into one of the leading online brokers.
After establishing in 1977, their consumer base is becoming as big as 10,000+ clients.
Interactive Brokers is the favorite of many traders.. Our Interactive Brokers review discovered that they're an excellent alternative for automated trading solutions. It's most appropriate for investors that are looking for an assortment of assets. Social and automated trading options are the core at Interactive Brokers.
Technology plays a significant role in Interactive Brokers. Interactive Brokers features trading on Web Trader, NinjaTrader, Tablet & Mobile apps. Interactive Brokers is fair, transparent, and also a well-regulated agent by the Financial Conduct Authority (FCA). Their outstanding array of tools will be beneficial for most traders. Third-party partnerships also provide in-house analysis.
The educational department at Interactive Brokers is quite insightful for new dealers as it allows them to have 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 method of trading.
If you feel that Interactive Brokers is not right for you then at the bottom of this Interactive Brokers review you wil find a lot of alternatives to Interactive Brokers.
What you ought to know about trading using Interactive Brokers
Interactive Brokers is a dynamic platform that offers various techniques of online trading. These tools cover the financial markets considerably. The Majority of the broker platforms provide less procedures than Interactive Brokers
If you want to trade with Interactive Brokers, you'll require a minimum deposit of $10000. This deposit is required if you want to start trading with Interactive Brokers. This 2021 Interactive Brokers review will direct you clearly about trading with them.
Interactive Brokers is as versatile as another brokerage platform. Interactive Brokers is ideal 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 pick from Web Trader, NinjaTrader, Tablet & Mobile apps.
Along with everything, Interactive Brokers has multiple benefits to new and verteran traders and should be investigated. There's no minimum time on which a transaction has to be kept available. The agents offer premium customer service that rewards clients with benefits.
Many less reputable brokers attempt to pressurise consumers into bigger financing for premium services. Interactive Brokers, on the other hand, is much more focused on trading volume. Dealers can expect trading conditions to be just, honest and transparent. The more lots traded by the user, the more benefits will become available.
Interactive Brokers accounts are available globally and provides excellent service everywhere they have customers. 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:
Is Interactive Brokers Safe To Trade With?
Established in 1977, Interactive Brokers has been in operation for 44 years, they are headquarted in United States.
Interactive Brokers is regulated by Financial Conduct Authority (FCA). These figures have rules that mandate that trading platforms have ploicies in place to keep investor's assets procured. This means that Interactive Brokers users don't need to worry about their money since it is segregated and safely stored in banks that are established. SSL encryption simplifies each user's personal information also.
You are able to make use of a choice for Two Factor Authentications (2FA) with Interactive Brokers for increased security. An SMS for the confirmation code will be sent to your mobile phone. You'll be asked to enter this code to log in to your account.
Another concern with financial brokers with regards to safety may be manipulation of trading. This is highly disadvantageous to users on these platforms. Nonetheless, this is much more widespread in the example of Market Maker agents who compete with customers on the stage.
Pro's & Con's Of Trading With Interactive Brokers
Every online trading platform will have a few ups and downs, and no 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 trusted by 10,000+ clients
- Interactive Brokers doesn't charge withdrawal fees
- Interactive Brokers doesn't charge deposit fees
- Interactive Brokers offer trading on Web Trader, NinjaTrader, Tablet & Mobile apps
- Interactive Brokers offer 100 trading instruments
- Interactive Brokers trades major forex pairs
- Interactive Brokers can communicate in
Interactive Brokers Con's
- Interactive Brokers does not offer Negative Balance Protection
- Interactive Brokers does not offer Guaranteed Stop Loss
- Interactive Brokers charge inactivity fees
- Interactive Brokers doesn't trade minor forex pairs
- Interactive Brokers doesn't trade exotic forex pairs
- Interactive Brokers doesn't offer trading on cryptocurrencies
- Interactive Brokers charge CFD fees
Interactive Brokers Review - Compare Brokers Similar To Interactive Brokers
|Interactive Brokers||Valutrades||Valbury Capital||EagleFX|
|Regulated By||Financial Conduct Authority (FCA)||Unregulated||Financial Conduct Authority (FCA)||Unregulated|
|Find Out More|
|Risk Warning||Losses can exceed deposits||Your capital is at risk||Your capital is at risk||Your capital is at risk|
Interactive Brokers Review - Regulation And Licencing In More Detail
Interactive Brokers is regulated by Financial Conduct Authority (FCA).
Interactive Brokers, as a business, has a powerful collection of rules for ensuring honest trading onto its platform. For information encryption functions, it provides an industry-standard secure socket layer (SSL).
As per the company's privacy regulations, customer data is to not be shared with some other institutions or individuals. Including credit history and other financial information.
Interactive Brokers Review - Awards
- At the time of writing this Interactive Brokers review, they had not received any awards.
Interactive Brokers Review - Minimum Deposit Required
The minimum deposit that you need to begin on Interactive Brokers is $10000. This is a decent amount for those just beginning. You can create more complex residue as you go along. However, ensure that you know how to make the most of your cash before investing larger sums.
Interactive Brokers Review - Commission And Fees Explained
Interactive Brokers is an online brokerage platform, and most online brokerages charge lower prices than traditional brokerages tend to bill. The cause of this is that the companies of online brokerages are scaled much better. That is, an internet broker isn't necessarily affected by the number of customers they have.
However, this doesn't necessarily mean that online brokers don't charge any fees. They charge fees of varying rates for a variety of services to earn money. There are primarily three different types of fees for this purpose.
The first sort of charges to keep an eye out for are trading charges. When you make a genuine trade, like purchasing a stock or an ETF, you are charged trading fees. In these cases, you are spending a spread, funding speed, or even a commission. The sorts of trading charges and the rates differ from broker to broker.
Commissions could be fixed or dependent on the traded volume. On the flip side, a spread denotes the gap between the buying and selling cost. Financing or overnight rates are people who are billed when you maintain a leveraged position for more than daily.
Aside from trading fees, online agents also charge non-trading fees. These are dependent on the actions you undertake in your account. They're billed for operations like depositing money, not investing for lengthy periods, or withdrawals.
In general, Interactive Brokers doesn't charge high fees compared to other online brokers. For operations other agents fee for, they either do not charge a brokerage fee, or they charge a smaller amount. This is beneficial for people who regularly exchange, such as daily or weekly trading.
But, non-trading fees charged by Interactive Brokers are comparatively greater. Consequently, you are charged more for non-trading actions in your trading account, such as deposits and withdrawal. These are not related to the sale and purchase of assets.
This Interactive Brokers review breaks down each of the applicable non-trading fees for you in detail.
Compare broker fees against Interactive Brokers
|Interactive Brokers||Valutrades||Valbury Capital||EagleFX|
|Withdrawal Fees||10 USD||0||variable||variable|
Interactive Brokers Review - Withdrawal Fees ExplainedInteractive Brokers doesn't charge withdrawal fees
Withdrawal of cash is possible at any time from the Interactive Brokers account. You can withdraw up sums to the amount of your account balance, keeping aside the margin used. One 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, in the event that you used a credit card for deposits, then the withdrawn money will be sent to the card. Interactive Brokers will ask you to offer other withdrawal methods in case your details have changed since your deposit.
There is a minimum withdrawal amount. In the event you're withdrawing money in various currencies from USD, a conversion fee is also important. The conversion fee will depend on the money you are choosing to draw in.
Interactive Brokers Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is only one of the buzzing questions which run through your head when open an account with Interactive Brokers. An inactivity fee is an amount charged to registered traders that haven't participated in buying or selling for a while. The period considered inactive is decided by the agent.
The inactivity fee also differs from 1 agent to another and isn't standardized. If a traders account doesn't have a buying or selling transaction, it's claimed by the agent as an inactivity charge. The traders have to pay this commission under terms and conditions that they had consented while registering.
Interactive Brokers charges an inactivity fee if you don't create any trades for a while.
Even if no charges are implied by Interactive Brokers, it is better for you to close the account if you are inactive. Inactivity fees are not only charged by brokerage firms but also many financial services.
For additional trading platforms, the inactivity fee is contingent on the sort of account you have selected. The inactivity fee is exposed to a lot of conditions and should be disclosed clearly by the agent beforehand.
Interactive Brokers Review - Deposit Fees Explained
When you move money in your trading account from the bank account, a deposit fee can be charged by the broker. Most agents do not charge too much 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 cash on the Interactive Brokers trading platform is easy. You just have to finish a single-user profile questionnaire to begin depositing money into your trading account. You'll need to provide an identity proof and proof of residency to deposit large sums.
Interactive Brokers Review - Compare Broker Deposit Methods
|Interactive Brokers||Valutrades||Valbury Capital||EagleFX|
What Can You trade With Interactive Brokers?
Note: Interactive Brokers provides many different trading instruments due to regulatory restrictions in a few countries. Trading instruments offered may differ 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 10 currency pairs.
Compare Interactive Brokers, Valutrades, Valbury Capital & EagleFX below.
Alternatives To Interactive Brokers
If, after reading this Interactive Brokers review, Interactive Brokers doesn't quite meet your requirements check out these Interactive Brokers alternatives.
We've scoured the internet to find the best alternatives to Interactive Brokers. Click the hyperlinks below to find out more.
Frequently Asked Questions about Interactive Brokers
Can I try Interactive Brokers before I buy?
Yes, you can most definitely try Interactive Brokers before you buy. Interactive Brokers provides demo accounts for the convenience of new traders. You can use this feature to build your faith in the system and yourself and your trading strategies.
If you sign up for a demo account on Interactive Brokers, you will set out with a decent amount of virtual money. It is to establish a sense of safety and confidence in you until you decide to spend your own money.
With this virtual Interactive Brokersdemo account, you are able to experiment in any way, to whatever length you wish. You can even start positions, test different trading strategies, and more.
Interactive Brokers specifies on its official website that you are able to exchange real time stocks with your demo account.
Is Interactive Brokers safe?
You can drop all your worries because we believe that Interactive Brokers is completely safe to use. It's in compliance with all the rules of Financial Conduct Authority (FCA).
Even so, 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 withInteractive Brokers is perhaps simple enough to be a cakewalk. 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.
Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live acocunt with Interactive Brokers is $10000. You should have a good hold over the nuances of online trading before you set out and trade with real money.
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 multiple methods to finance your accounts with Interactive Brokers. The process is effortless and quick, with different payment methods in your fingertips.
You can use debit or credit cards Which range from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal is also at your disposal for depositing funds. You must keep in mind that PayPal is not available in every country. The currencies Interactive Brokers
Is my money safe with Interactive Brokers?
Yes, your cash is safe and protected with Interactive Brokers. As you already know, Interactive Brokers works with good conformation to. It has established plenty of steps to guard all its investors.
Interactive Brokers safeguards its clients' personal and sensitive information under SSL encryption. Your capital will be retained highly secure in top-tier banks.
If you want to further safeguard your account, it is possible to enable Two-Step Verification also. It takes an SMS confirmation that you get your accounts.
Is Interactive Brokers trading good?
Yes, trading through Interactive Brokers is a pleasant and good experience indeed. It's an excellent and intuitive platform with useful features for your ease. Moreover, you can even obtain access to a vast selection of educational tools and assistive substance to kickstart your trading experience.
If you are still skeptical, it is possible to open a eToro demo account and assess the trustworthiness of the platform on your own.
Which Countries does Interactive Brokers support?
Interactive Brokers operates around the globe. However, due to regulations there are some countries that Interactive Brokers cannot accept clients resident in
Is Interactive Brokers legit?
Interactive Brokers is a legit company headquarted in United States since 1977. They are regulated by Financial Conduct Authority (FCA). 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 an excellent agent, and its own users may vouch for this. The highlight of the platform is its quick order execution on transactions.
You'll find the clean design of this platform and the admirable features that a pleasure to work with.
Is Interactive Brokers a trustworthy broker?
Yes, Interactive Brokers is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 10,000+ users registered with them can reaffirm their trustable nature.
What is the minimum deposit for Interactive Brokers?
The minimum deposit to open a live account with Interactive Brokers is $10000
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 the withdrawal from Interactive Brokers to show in your bank account.
Are Interactive Brokers regulated?
Interactive Brokers are regulated by Financial Conduct Authority (FCA)
Is Interactive Brokers a market leading broker?
Interactive Brokers is currently among the industry leaders. It has over 10,000+ registered customers and over 44 years of experience on its record. They are among the world's leading trading platforms and a dominant figure in the Fintech revolution.
It simplifies this status to its unbelievable platform and wide selection of tools plus resources so you may invest in capital markets.
Is Interactive Brokers a con?
No, Interactive Brokers is not a con. They are regulated by Financial Conduct Authority (FCA) 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, many traders earn a lot of cash. However, typically, through continual trading, you can create between 2% - 10% profit a month.
This can look like a little number, but within the entire year, this adds to a substantial number of gains. Even though Interactive Brokers supply you all of the tools to make money, they can't guarantee you will profit.
Does Interactive Brokers have fees?
Yes. To begin trading using Interactive Brokers, you have to deposit $10000. Certain commissions while trading additionally apply. Any processing fees from your bank might 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 Financial Conduct Authority (FCA).
How many people use Interactive Brokers?
Interactive Brokers is a worldwide recognised agent with 10,000+ 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 does not offer negative balance protection. If your balance is negative, Interactive Brokers indicates that you promptly contact client services. For this, you are able to fix any imbalances in your account.
Does Interactive Brokers offer guaranteed stop loss?Interactive Brokers unfortunately, doesn't offer guaranteed stop loss. Interactive Brokers provides a chance for its dealers to close their trade in their given price. Apart from that, Interactive Brokers doesn't provide guaranteed stop loss.
Does Interactive Brokers allow scalping?Yes, Interactive Brokers do allow scalping. Several traders throughout the world choose Interactive Brokers due to their scalping services. They offer trading on Web Trader, NinjaTrader, Tablet & Mobile apps which allow 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?
No, Interactive Brokers does not accept bank transfers.
Does Interactive Brokers accept credit cards?
No, Interactive Brokers does not accept credit cards.
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?
No, Interactive Brokers does not accept Payoneer.
Does Interactive Brokers accept Neteller?
No, Interactive Brokers does not accept Neteller.
Does Interactive Brokers offer Live Chat customer support?
No, Interactive Brokers does not offer customer support through live chat.
Does Interactive Brokers offer phone customer support?
No, Interactive Brokers does not offer customer support over the telephone.
Does Interactive Brokers offer email customer support?
No, Interactive Brokers does not offer customer support through email.
What languages can Interactive Brokers communicate in?
Interactive Brokers has the ability to communicate and support customers who speak:
Does Interactive Brokers have a wikipedia page?
No, Interactive Brokers does not have an official wikipedia page.
Does Interactive Brokers offer demo accounts?
Yes, Interactive Brokers offers demo accounts so you can learn their systems before risking any real money.