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) |
Video
Your company video here? Contact ad sales
Traders Reviews
I handed in my first application online two week ago, I've uploaded my bank statement, Canadian driver license whatever they asked.
Got first rejection saying that I have to upload my Canadian SIN card photo copy since I'm currently living in Canada.
OK, I uploaded my SIN card and received the 2nd rejection, saying since I had a Canadian SIN then I need to reopen a new application and fill in "Canada" in residence field.
So I opened a new application and attached the same bank statement I've using in previous application, got 3rd rejection saying that my bank statement is out of date, actually the bank statement was from last month and I guess they didn't even open it for review.
So I replied them that the bank statement was the latest one and tried to upload it again.
Now, I've got my 4th rejection saying that they want a debit card statement not the credit card statement!
Don't even bother to apply again, after reading so many interesting reviews, absolutely disappointing.
2010-03-08 2Star It is impossible to reach customer service after market hours. If you have any problems during the market hour, deal with it yourself, because you will not get any assistance from IB. The quickest way is chat, but I have watied for over 30 min. during market hours. If you get anyone on the phone, they are always so dipressed.
Your stops will receive the worst fills and the system will freeze when volatily pick up. It may seem convinint to trade all markets from one platform, but it is not woth it. This truly is the worst brokerage experience we ever had. Stay away!!!!!!!!!!
I transferred money in to fund a CTA account. The day of the transfer they upped their min account size for CTAs thus stopping me from trading. Nice of them to warn me or the CTA himself.
No amount of reasoning from him (even though he brings lots of custom) would change their mind.
I therefore decided to transfer the money out to another broker.
It has taken me months and months to get the money (still haven't got it out).
The transfer was refused as they took 1/10th a cent out of my account saying it was an interest adjustment (I earned no interest on this account, nor should I have been charged anything - no positions were opened or closed).
I assume it was a rounding error in one of their systems.
So after weeks of trying to transfer the money, I transfered 1 cent less.
The transfer goes out but then gets lost as they didn't enter the correct account number.
The receiving bank returns the payment but IB can't locate it.
This is still ongoing.
No one seems to care and my complaints don't get answered.
They send vague messages on their internal message system, which is as bad as the rest of their site.
It's also a complete pain in the a** to login as they have a complicated security process that seems to expire and get confused etc. meaning I have a tough time logging in sometimes.
Overall a horrible experience and I'm yet to get my money back or be offered any apology or compensation.
Avoid like the plague.
Frequently Asked Questions
What is the minimum deposit for Interactive Brokers?
There is no minimum deposit required by InteractiveBrokers for both IBRK LITE and IBRK PRO.
How much does Interactive Brokers charge per trade?
InteractiveBrokers charges a tiered commission based on the combined Monthly Trade Value of Spot Forex trades.
Commissions: 0.20 *0.0001 * Trade Value
Minimum per order: USD 0.20
Monthly Trade Value: USD 1,000,000,001 - 2,000,000,000
Commissions: 0.15 *0.0001 * Trade Value
Minimum per order: USD 0.15
Monthly Trade Value: USD 2,000,000,001 - 5,000,000,000
Commissions: 0.10 *0.0001 * Trade Value
Minimum per order: USD 0.125
Monthly Trade Value: USD > 5,000,000,000
Commissions: 0.08 *0.0001 * Trade Value
Minimum per order: USD 0.10
Does Interactive Brokers charge a dormant account fee (inactivity fee)?
Whether Interactive Brokers charges a monthly inactivity fee or not depends on the account type.
- IBKR Pro Accounts:
IBKR Pro accounts are subject to a monthly activity fee of USD 10 (USD 20 if the account balance is USD 2,000 or below).
If any fee, withdrawal, transfer or adverse market move reduces the account balance to USD 0, the account will be automatically closed.
- IBKR Lite Accounts:
IBKR Lite accounts, however, are not subject to a monthly minimum activity fee.
What is IBKR Lite in Interactive Brokers?
IBKR Lite is an IBKR pricing plan that boasts below features.
- Unlimited, commission-free trading in US listed stock and ETFs
- Access to global markets
- Trading via Client Portal, IBKR Mobile and Trader Workstation (TWS)
- No account minimums and no inactivity fees.
Who is eligible for Interactive Brokers' IBKR Lite?
The IBKR Lite is offered with some restrictions. See the explanations below.
- To direct US clients
- Any client of an Introducing Broker (not omnibus brokers)
- Direct accounts have to be natural person (i.e. cannot be Legal Entity, Org, etc.).
- For standalone trust accounts, all trustees/beneficiaries on the account must be natural persons.
- For trust accounts that are under an advisor, the trustees/beneficiaries may be legal entities.
I filed a complaint against IB and it was like a circus in the making. Some manager got on the phone, tried to recite the facts as he had received them from someone else, and these facts were 100% incorrect. They attempted to put the blame on me, saying I had placed the trade myself and it had nothing to do with anything that IB did or did not do. It was like talking to a bunch of idiots who could not tell anyone which way was up or which way was down; I could tell it was a scam in the making and all the complaining I did was to no avail. I immediately closed my account and have told as many people as possible about their practices and I will say it again. If you are looking for an honest, reliable brokerage, go look somewhere else. These guys are looking for excuses to scam their clients and do it in a way that they feel the client has no recourse but arbitration. The worst, most obscene excuse for a brokerage firm I have ever had the occasion of dealing with. I say, AVOID THESE CHARLATANS AT ALL COST, OR YOUR TRADING ACCOUNT WILL SUFFER!