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 world of trading and brokerage, 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 the concepts of brokerage since you keep trading. For starters, you need to select the ideal broker who will be clear with you constantly.
Within this fast-paced world of stock markets and trading, you will need guidance to make proper decisions. A professionally direct investment program will create hefty returns. Interactive Brokers is just one such platform which will take you along with your investment into great heights. It is crucial that you understand about Interactive Brokers before you trust them with your cash.
Our entire Interactive Brokers Review covers all you will need to learn about trading with Interactive Brokers. A good agent can multiply your initial investments and give you favorable profits. If you would like to earn profits, you must trade with a broker service that aligns with your investment objectives.
There is no sure-fire way to guarantee profits; thus, you must carefully analyze your broker before you choose them. It is a common misconception that all agents are the same, but that is not correct. Wrong judgment, initially, can put your investments in danger.
Interactive Brokers is a broker that has forged its way successfully into the brokerage world. Within this review, we've tried to collate a number of the important aspects of Interactive Brokers. This review can allow you to know whether Interactive Brokers is a good fit for your own investments or not. We've tried to breakdown all the features and fees for your advantage.
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 forex broker headquartered in United States and provides a range of instruments for trading. Since its establishment in 1977, Interactive Brokers has emerged as a leading player in the field of online broker. Interactive Brokers includes a highly aggressive and full-featured trading site that's focused on forex, indices, metals, stocks , commodities.
Over the past 44 years, Interactive Brokers has grown into one of the leading online brokers.
After launching in 1977, their customer base is becoming as large as 10,000+ clients.
Interactive Brokers is the favorite for many dealers.. Our Interactive Brokers review found that they are an excellent choice for automated trading options. They're most appropriate for investors that are searching for an assortment of assets. Social and automated trading options are the heart at Interactive Brokers.
Technology plays a substantial role in Interactive Brokers. Interactive Brokers features trading on Web Trader, NinjaTrader, Tablet & Mobile apps. Interactive Brokers is honest, transparent, and a well-regulated broker by the Financial Conduct Authority (FCA). Their outstanding array of resources will be beneficial for most traders. Third-party partnerships also provide in-house analysis.
The trader resource section at Interactive Brokers is quite enlightening for new traders since 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 any well-diversified approach to 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 with Interactive Brokers
Interactive Brokers is a dynamic platform that offers various methods of online trading. These instruments cover the financial markets substantially. Most of the broker platforms provide fewer procedures than Interactive Brokers
If you would like to trade with Interactive Brokers, you will require a minimum deposit of $10000. This deposit is compulsory if you want to begin trading with Interactive Brokers. This 2021 Interactive Brokers review will guide you safely about trading with them.
Interactive Brokers is as flexible as any other broker platform. Interactive Brokers is excellent for traders who want a manageable array of low-cost services. The platforms supplied by Interactive Brokers are third party, white-label offerings. All traders can pick from 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 trade has to be kept available. The agents provide premium customer service that rewards clients with benefits.
Many less reputable brokers attempt to pressurise users into larger financing for superior services. Interactive Brokers, on the other hand, is much more concentrated on trading volume. Dealers can expect trading conditions to be reasonable, honest and transparent. The more lots traded by the consumer, the further advantages will come along.
Interactive Brokers accounts are available all over the world and provides outstanding 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 2006, Interactive Brokers has been open for 44 years, they are headquarted in United States.
Interactive Brokers is regulated by Financial Conduct Authority (FCA). These bodies have rules that mandate that trading platforms have steps in place to maintain investor's resources secured. This means that Interactive Brokers users do not need to be worried about their money since it is segregated and safely stored in banks that are established. SSL encryption simplifies each user's private information as well.
You can make use of a choice for 2 Factor Authentications (2FA) with Interactive Brokers for increased security. An SMS with the verification code will be sent to your phone. You will be required to input this code to log in to your account.
Another concern with fiscal brokers with regards to safety might be manipulation of trading. This is highly disadvantageous for users on those platforms. However, this is much more prevalent in the example of Market Maker agents who compete with users on the stage.
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 showing both sides. 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||Caveo||Wealthfront||Charter Prime|
|Regulated By||Financial Conduct Authority (FCA)||Financial Conduct Authority (FCA)||Unregulated||Financial Conduct Authority (FCA)|
|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 strong collection of rules for ensuring fair trading on its platform. For information encryption purposes, it provides an industry-standard secure socket layer (SSL).
As per the company's privacy regulations, client information is to not be shared with any other institutions or individuals. Including credit history and other financial details.
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 you must deposit to begin on Interactive Brokers is $10000. This is an adequate amount for people just starting out. You can create more advanced deposits as you cooperate. However, ensure you know how to make the most of your money before investing in larger sums.
Interactive Brokers Review - 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 internet broker is not necessarily influenced by the amount of customers they have.
However, this doesn't necessarily mean that online brokers do not charge any fees. They charge prices of varying rates for various services to earn money. There are primarily three types of penalties for this objective.
The first sort of charges to keep an eye out for are trading charges. When you make an actual trade, like buying a stock or an ETF, you're charged trading charges. In these instances, you are paying a spread, funding speed, or even a commission. The kinds of trading charges and the prices differ from broker to broker.
Commissions could be fixed or determined by the traded volume. On the flip side, a spread denotes the difference between the buying and selling cost. Funding or overnight rates are people that are charged when you maintain a leveraged position for more than a day.
Aside from trading charges, online agents also charge non-trading fees. These are determined by the actions you undertake on your account. They are billed for operations like depositing cash, not trading for lengthy periods, or withdrawals.
In general, Interactive Brokers does not charge high fees compared to other online agents. For operations other agents fee for, they either do not charge a broker fee, or they charge a lesser sum. This is beneficial for people who often trade, for example daily or weekly trading.
However, non-trading fees billed by Interactive Brokers are comparatively higher. As a result, you're charged more for non-trading actions on your trading accounts, such as withdrawal and deposits. These are not related to the sale and purchase of assets.
This Interactive Brokers review breaks down every one of the applicable non-trading fees for you in detail.
Compare broker fees against Interactive Brokers
|Interactive Brokers||Caveo||Wealthfront||Charter Prime|
|Withdrawal Fees||10 USD||0||variable||$30|
Interactive Brokers Review - Withdrawal Fees ExplainedInteractive Brokers doesn't charge withdrawal fees
Withdrawal of money is possible at any moment from the Interactive Brokers account. It's possible to withdraw up sums to the sum of your account balance, keeping aside the perimeter utilized. One thing to remember is that you don't necessarily have to have any money on your account.
In addition, the withdrawn money will be moved directly to the accounts you use to create deposits. Therefore, if you used a credit card for deposits, then the withdrawn money is going to be sent to the card. Interactive Brokers will ask you to provide other withdrawal methods if your details have changed since your deposit.
There is a minimum withdrawal amount. In the event you're withdrawing cash in various currencies from USD, a conversion fee is also applicable. The conversion fee will depend on the currency you are choosing to draw in.
Interactive Brokers Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is 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 who haven't engaged in buying or selling for some time. The period regarded as inactive is decided by the broker.
The inactivity fee also differs from 1 broker to another and isn't standardized. If a dealers account does not have a buying or selling trade, it's claimed by the broker as an inactivity charge. The traders need to pay this fee under conditions and terms that they had consented while enrolling.
Interactive Brokers charges an inactivity fee when you don't create any trades for a while.
Even if no fees have been indicated by Interactive Brokers, it's better that you close the account if you are inactive. Inactivity fees aren't just charged by broker companies but also many financial services.
For additional trading platforms, the inactivity fee depends on the sort of account you've selected. The inactivity fee is exposed to many circumstances and needs to be disclosed clearly by the broker beforehand.
Interactive Brokers Review - Deposit Fees Explained
When you move money into your trading account from the bank account, a deposit fee can be billed by the broker. Most agents 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 on the Interactive Brokers trading platform is easy. You just need to finish a single-user profile questionnaire to start depositing money into your trading account. You'll need to provide an identity proof and evidence of residency to deposit large amounts.
Interactive Brokers Review - Compare Broker Deposit Methods
|Interactive Brokers||Caveo||Wealthfront||Charter Prime|
What Can You trade With Interactive Brokers?
Note: Interactive Brokers offers many different trading instruments due to regulatory restrictions in many countries. Trading instruments offered will 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 forex pairs.
Compare Interactive Brokers, Caveo, Wealthfront & Charter Prime below.
Alternatives To Interactive Brokers
If, after studying 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 links below to learn more.
Frequently Asked Questions about Interactive Brokers
Can I try Interactive Brokers before I buy?
Yes, you can most certainly try Interactive Brokers before you buy. Interactive Brokers offers demo accounts for the ease of inexperienced traders. You can use this feature to build your faith in the machine as well as yourself and your trading strategies.
If you sign up to get a demo account on Interactive Brokers, you may set out with a decent amount of virtual money. It's to establish a sense of security and confidence in you until you choose to invest your own money.
With this virtual Interactive Brokersdemo account, you can experiment at all, to whatever length you wish. You might also open positions, test different trading approaches, and more.
Interactive Brokers specifies on its official site which you are able to trade real time stocks with your demo account.
Is Interactive Brokers safe?
You can drop all your worries since we believe that Interactive Brokers is totally safe to use. It's in compliance with the principles of Financial Conduct Authority (FCA).
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 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 a number of ways to finance your accounts with Interactive Brokers. The process is effortless and quick, with various payment methods in your fingertips.
You can use credit or debit cards ranging from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal is also at your disposal for depositing money. You must bear in mind that PayPal is not available in all country. The currencies Interactive Brokers
Is my money safe with Interactive Brokers?
Yes, your money is safe and secure with Interactive Brokers. As you already know, Interactive Brokers operates with good conformation to. It's established plenty of measures to guard all of its investors.
Interactive Brokers protects its customers' private and sensitive information under SSL encryption. Your capital will be kept highly secure in top-tier banks.
If you wish to further protect your accounts, it is possible to empower Two-Step Verification also. It requires an SMS confirmation for you to get your account.
Is Interactive Brokers trading good?
Yes, trading through Interactive Brokers is a nice and decent experience indeed. It's an excellent and intuitive platform with useful features for your ease. Moreover, you could even obtain access to a huge collection of educational resources and assistive substance to kickstart your trading expertise.
If you remain skeptical, it is possible to start a eToro demo account and evaluate 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 can't 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 this platform is its quick order execution on trades.
You'll discover 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 indisputably one of the business leaders. It has over 10,000+ registered customers and over 44 years of expertise on its own record. They're one of the world's top trading platforms and also a dominant figure in the Fintech revolution.
It simplifies this standing to its incredible platform and broad range 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 make a lot of cash. But on average, through consistent trading, you also can create between 2% - 10% profit a month.
This can look like a little number, but within the entire year, this adds to a significant amount of gains. Even though Interactive Brokers supply you all the tools to make money, they can't guarantee that you will gain.
Does Interactive Brokers have fees?
Yes. To begin trading using Interactive Brokers, you have to deposit $10000. Certain commissions while trading also applies. 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 globally 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 doesn't provide negative balance protection. If your balance is negative, Interactive Brokers suggests you promptly contact client services. For this, you can fix any imbalances within your own account.
Does Interactive Brokers offer guaranteed stop loss?Interactive Brokers regrettably, doesn't provide guaranteed stop loss. Interactive Brokers gives an opportunity for its dealers to close their trades in their specified price. Apart from this, Interactive Brokers does not offer guaranteed stop loss.
Does Interactive Brokers allow scalping?Yes, Interactive Brokers do permit 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?
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.