Interactive Brokers Review

Interactive Brokers Logo

Founded in the United States in 1978, Interactive Brokers has grown to become one of the largest online brokerage firms, with offices in the UK, Australia, Canada, Hong Kong, Japan, Switzerland, Estonia, Russia, China, Hungary, and Liechtenstein. The broker gives their clients access to about 125 markets in 31 countries. They provide their clients with a range of sophisticated trading platforms, trading tools, educational resources, and market analysis. Interactive Brokers is listed on the NASDAQ exchange with the ticker symbol IBKR.

Interactive Brokers Review - Trader Workstation
Interactive Brokers Review – Trader Workstation

Interactive Brokers Review Introduction

In this Interactive Brokers review, we will take a look at some of the most important factors worth considering when choosing a broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.

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Interactive Brokers Platforms & Tools

Interactive Brokers provides a number of intuitive trading platforms, including:

  • Client Portal: A web-based platform for trading and account management
  • IB Trader Workstation (TWS): The broker’s proprietary desktop application for Windows, Mac, and Linux computers, and it’s available only to PRO clients
  • IBKR Mobile: For iOS and Android mobile devices
  • IBot: A software assistant that can place orders on words or text commands
  • IBKR WebTrader: The web version of the TWS
  • IBKR APIs: Available to PRO clients who script their own trading software

The broker also provides useful trading tools, such as Research & News, Investors’ Marketplace, Traders’ Calendar App, Options Calculator App, and more.

Interactive Brokers Review - Mobile Trading Platform
Interactive Brokers Review – Mobile Trading Platform

Interactive Brokers Research & Education

The broker has a vast collection of educational resources that consists of over 700 articles, questions and answers, 80 training videos, and a glossary of over 1200 financial terms and definitions. There is a traders’ academy section designed for registered professionals and investors, with over 247 lessons in 39 courses.

Interactive Brokers Review - Traders Academy
Interactive Brokers Review – Traders Academy

Interactive Brokers Trading Accounts

Interactive Brokers offer different account types to individual and corporate clients. The major individual retail account types are as follows:

  • IBKR Lite: For individuals, joint, or IRA clients. There’s no minimum balance requirement, no inactivity fees and no commissions on U.S. stocks and ETFs.
  • IBKR PRO: For high volume professional traders. They get the lowest cost and the best possible prices.
Interactive Brokers Review - Clients Portal
Interactive Brokers Review – Clients Portal

Interactive Brokers Account Funding

The broker accepts only checks drawn on a U.S. bank and in USD — made payable to IB LLC or IB HK — as well as bank transfers. Bank transfers can take between 3-5 working days to clear.

Interactive Brokers Customer Service

Interactive Brokers has a multi-lingual support desk that operates from their various offices around the globe. They are available 24 hours a day every trading day and can be reached via more than 15 phone lines. You can also communicate with them via online chat, email, and social media channels like Facebook, Twitter, LinkedIn, and YouTube.

Interactive Brokers Regulation

The broker is regulated in multiple jurisdictions as follows:

  • INTERACTIVE BROKERS LLC is regulated by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and it’s a member of the NYSE and the FINRA
  • INTERACTIVE BROKERS CANADA INC. is regulated by the Investment Industry Regulatory Organization of Canada (IIROC)
  • INTERACTIVE BROKERS (UK) LIMITED is authorized and regulated by the Financial Conduct Authority (FCA)
  • INTERACTIVE BROKERS AUSTRALIA PTY LTD is licensed and regulated by the Australian Securities and Investments Commission (ASIC)
  • INTERACTIVE BROKERS (INDIA) PVT. LTD is a member of NSE and BSE
  • INTERACTIVE BROKERS HONG KONG LIMITED is regulated by the Hong Kong Securities and Futures Commission, and it’s a member of the SEHK and HKFE

Interactive Brokers Review Summary

Interactive Brokers is one of the biggest online trading brokers in the US, and they are regulated in several countries where they operate. The broker provides clients with multiple platforms, trading tools, and educational resources.

It is worth mentioning that some of the trading products and services in this Interactive Brokers review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the Interactive Brokers website which you can visit by using the link below.

Trading complex instruments can come with a high risk. You should consider whether you understand how investments and trading work and whether you can afford to take the high risk of losing all of your money.

Interactive Brokers

6

Spreads

5.0/10

Liquidity

5.0/10

Commissions

5.0/10

Support

6.0/10

Regulation

9.0/10

Features

  • Access to 125 markets 31 countries
  • Sophisticated trading platforms
  • Many useful trading tools
  • A vast collection of educational resources
  • Extensive market research and analysis