InteractiveBrokers.com Review Visit site

Updated: Mar 25, 2020
2.475 · 147 REVIEWS
Is this your company?

Other websites of this company include www.interactivebrokers.co.uk

About InteractiveBrokers.com

InteractiveBrokers is a stock broker. Interactive Brokers offers TWS web and mobile trading platform. InteractiveBrokers.com offers stocks, futures, options, ETFs, forex, CDs, bonds etc. for your personal investment and trading options.

InteractiveBrokers.com

Broker Details

Minimum Trade Size:0.25
Maximum Leverage:40:1
Minimum to Open Live:$25,000
Established:1978
Address: One Pickwick Plaza, Greenwich, CT 06830, United States
Contact:Unknown
Regional offices:
Regulators: ASIC #AFSL: 453554, IIROC #, SFC #, SEBI #INZ000217730, CSSF #, FCA #208159, FINRA #, SEC #
Prohibited countries:Unknown
Trading platforms:TWS
Web Trading: Unknown
Mobile Trading: Unknown
Currencies:(20+)
Cryptocurrencies:
CFD:(4890+) Gold, Silver, Stocks, Stock Indexes, Bonds, Oil, Other Commodities
Deposit Methods:Bank Wire, ACH (Automated Clearing House), BPAY, Check, Direct Debit, Local Bank Deposits, Transfer from Existing Broker
Withdrawal Methods:Bank Wire, ACH (Automated Clearing House), BACS (Bankers' Automated Clearing Services), Check, Direct Debit, EFT (Electronic Funds Transfer), GIRO (General Interbank Recurring Order), SEPA (Single Euro Payments Area)

Live discussion

Join live discussion of InteractiveBrokers.com on our forum

Go to forums

Video

Your company video here? Contact ad sales

2.475 · 147 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Consumer Reviews

PA, USA,
Feb 24, 2020,
Registered user

Charge you fees after reading there is not any fees.

Service use: Live

Length of use: over 1 Year

They sold my shares with out my knowledge and closed my account. To me this is theft. If I was getting charged a fee you would at least think they would send you a statement. I received nothing from this company. I was not even notified that my account was closed.
  1 trader has found this review helpful
Ontario, Canada,
Feb 13, 2020,
Registered user

Wouldn't suggest this broker to my worst enemy.

Service use: Live

Length of use: 0-3 Months

Interactive brokers is awful. I missed out on so many great plays because their options strike prices always go blank. Not only do they go blank restricting you from making a great trade. If they go blank on you when you're in a position you are straight sexed. Sometimes they go blank for 5-10 mins. If you're in position it doesn't let you exit when it's blank. Think about how much damage could be caused to your account when you look for a heavy sized 45 second scalp, and you can't get out for 10 mins .... Ya. This happened to me several times. I have filed for a compensation but who knows if I'll get it. Either way, I'm done with interactive poopers. Just thinking about them makes my blood boil. They will steal your money without hesitation. Also, not sure where they get their customer service reps. Every time you go in a live chat the representative gets dumber and dumber every time. You may as well talk to the closest wall, at least the wall can't give you a stupid response in return. AWFUL DO NOT SIGN UP WITH THEM YOU WILL HAVE A HEART ATTACK
  3 traders have found this review helpful
Antonios Panayotou,
Melbourne, Australia,
Feb 11, 2020,
Guest

Dealing with Interactive Brokers

Service use: Live

Length of use: over 1 Year

Website is next to useless. Can't access tax reports. Very unhelpful when ring them up. Tell you to ring a number that doesn't exist. Was locked out and they wont reset my password. Terrible to deal with.
  1 trader has found this review helpful
Ali,
Sydney, Australia,
Feb 6, 2020,
Guest

AVOID INTERACTIVE BROKERS! See my points listed. Poor, frustrating broker!

Service use: Live

Length of use: over 1 Year

WORST WORST WORST broker/system/platform. Do not use Interactive Brokers if you can avoid it/don't have to! Maybe its cool if you really need all their products or different if you have have boatloads of money and maybe they actually look after you - but if you're a smaller investor then essentially they tell you to SUCK IT and deal with their nonsense. (I had about AUD40k securities with them at one point plus a bunch of cash cos of their stupid rules and it was STILL AWFUL).
So you can just trust me or read my highlights [lowlights] of all the terrible parts that make up the whole of the mess that is IB.

NB: I only needed to trade Australian and US equities (wanted to do bonds but never got around to it), and manage my cash. I was required to use them because of compliance requirements at my previous firm, but I have finally been able to escape the hell-hole that is IB due to a change of firm.

1. Their systems (both on app and web platform) are horrendous - security is so tight (cool sure, to a certain degree, but it's really overdone!!!) you have to log in multiple times, use a phone token etc etc and half the time it just logs you out anyway or crashes. Functionality goes down often, its not intuitive, things are really hard to find, its slow.

2. Sure they have a low cost-per-trade and other low fees/costs and you can trade bonds or whatever, but you pay for it in other ways. If you have less than AUD20k just sitting in your cash acct and aren't trading actively (also your money is not earning interest because why would IB ever actually do anything to help you), they charge you a monthly fee - at my current savings acct interest rate which is one of the best, if not the best rate in the market, it would take me nearly 4 months just to earn back the monthly fee I pay. If you withdraw cash more than once a month, boom you get a charge. Even when I was finally able to escape from them, BOOM AUD55 charge just so my new broker could do all the work processing the transfer, and IB sit back and collect AUD55. Then they mysteriously take another AUD16 out my account for no reason, before I can shut down my account. Even depositing money in is a two-step, slow, archiac nightmare.
They even once liquidated a portion of one of my share positions because my cash funds were running low (I didn't realise at this time THEY CHARGED YOU JUST FOR THE PRIVILEGE OF KEEPING YOUR CASH WITH THEM), which then got me in trouble with compliance because I didn't have pre-approval to sell the share - IB just went ahead and made the decision for me anyway and I got a trade confo after the fact!

3. Getting any sort of help from them is incredibly frustrating. Calling in - you are on hold for ages and the people are pretty much all useless and never do what you ask anyway, or you get transferred to someone else and they still can't help. If you chat with them online you get generic 'computer says no' answers or you get told to raise a web ticket, where you get another 'computer says no' answer and nothing really ever gets resolved properly (maybe half the time, in a semi-efficient manner?). Then when you finally get a response on a web ticket, they don't email you, oh no, nothing every gets sent right to your email, you have to log back into their rubbish app or platform and go to the stupid message inbox, by which time (most of the time) the system either breaks or you have to do YET ANOTHER LOG IN ! Wow.

I could go on but I think you get the picture. AVOID AVOID AVOID IB! Try someone else first. Or try IB first, waste your time and money, and then move to another broker :)

It will save you your sanity!
  2 traders have found this review helpful
ed,
alabama, USA,
Feb 4, 2020,
Guest

can't get them to wire my funds back to my bank account

Service use: Live

Length of use: 6-12 Months

I've been trying to get my money back been over 10 days decided to call and they told me I needed a photo ID. I believe they required this when I set my account up. Had I not called I would never had known. Plain and simple they suck stay away. If they had zero stars I would have given it to them
  1 trader has found this review helpful
Budapest, Hungary,
Jan 27, 2020,
Registered user

Worst customer service ever.

Service use: Live

Length of use: over 1 Year

Good commissions, average trade platform, but chaotic margin handling and extremely poor and bad customer service. Bay far the worst CS. Inexpert and bounder. Rarely receive specific answer to my questions, usually 1 sentence or a copy+paste bullpoo. Getting fed up with them.
 
Cole James,
Florida, USA,
Aug 22, 2019,
Guest

UNETHICAL FEES, DO NOT USE THEM

Service use: Live

Length of use: over 1 Year

IF I can convince just 1 person to stay away then it will hopefully prevent another person from getting charged $1000 over the course of 3 years draining my account to $0 with fees. Screw these guys.
  3 traders have found this review helpful
John,
USA,
Mar 6, 2019,
Guest

Worst Broker Ever?

Honestly I thought Etrade and TD Ameritrade had problems, but Interactive Brokers made me feel lucky to be customers of these other two brokers. I can't believe IB is even allowed to advertise itself as a broker it's that horrible. Half the time the website doesn't work, the mobile application usually works but it's so crowded and convoluted I find it impossible to actually use for trading, and the desktop application looks like it was created in the 1980s and is almost unusable. Most of the time I have to login multiple times to the website just to successfully load my account details. They have this ridiculous "two factor auth" app that you must download to your phone just to be able to login to your account, instead of doing something smart like just using google authenticator.

Maybe if they had focused on creating one single useful platform like a website OR an app, OR a desktop application they would have succeeded at one instead of royally screwing up all three. And "low cost" isn't an excuse - Robinhood works just fine and they don't chart any trading fees.

The only reason someone might want to use IB is if they desperately need to be able to trade stocks on foreign exchanges. I can't imagine any other reason to put yourself through the horror of it.
  3 traders have found this review helpful
Ken Serra,
Sacramento, USA,
Feb 1, 2019,
Guest

Do not do business with Interactive Brokers

The following are my opinions and experiences with Interactive Brokers. They took my money in a fiduciary relationship and converted it , defrauded my account, failed to disclose all fees. gouged my account and in the end half of my funds had become I.A.s, the stock losses and transfer fees were about 5% of the losses. Hopefully there company will be arrested for these frauds. I am experienced investor and have never been financially violated by a Gatekeeper of my funds before.
  2 traders have found this review helpful
John C,
Phoenix, USA,
Nov 6, 2018,
Guest

CRAZY HIDDEN FEES!

AVOID AT ALL COST!!! So much hidden fees! Don't let their low commission trades full you, they will make it all up with hidden fees. My Roth IRA has been charged with crazy amount of fees. Trying them out was the worst thing I ever did.
  3 traders have found this review helpful