Interactive Brokers Review

2.313 · 155 REVIEWS
Updated: Mar 2, 2021 ·  · Is this your company?

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

Interactive Brokers

Other websites of this company include

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+)
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)

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2.313 · 155 REVIEWS
Forex Peace Army

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

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Traders Reviews

New York, USA,
Feb 21, 2013,

Interactive brokers are scammers. Stay away from these shady brokers. They will deactivate your account login just to have you call their customer support number.

Instead, when you call them, they attempt to sell you add-ons these you don't even need. Horrible experience. Much rather work with a real broker instead of these scammers. Buyer be aware.
  1 trader has found this review helpful
Chris Allen,
Toronto, Canada,
Jan 20, 2013,

Interactive Brokers has best execution and lowest commission / spreads. They are good at this. I only trade futures even currencies and thier commssion is lowest that help me make good scalp trades. Thier platform and customer service is okay or worse sometimes. But trust me, in trading execution and commission counts, anything else is just nice to have but not necessary.
Florida, USA,
Dec 16, 2012,

First of all, these guys have no regard for their customers. They failed to exercise options worth $8000, supposedly as risk prevention. If you understand how giving away your money somehow protects your account, you are smarter than me. Note, I am not talking about market priced liquidations. I am talking about giving away options of considerable value, and getting nothing in return.

Second, the Web Trader product is completely unreliable. I have witnessed it change terms of my order entry on its own. Further, the site constantly becomes unresponsive.

Third, the company recently adopted a policy of "preemptive liquidation". This means that even if you are in margin compliance, they might still liquidate you if they think you MAY not be in margine compliance the next day. This is bad. Worse, if you call Interactive Brokers and ask them which positions they are concerned about, or which positions may be liquidated, they can't tell you. IB engages in this practice even while claiming it cannot accurately predict future margin requirements. In fact, more times than not, in my personal experience, IB's pre-emptive liquidations have not only failed to reduce margin requirements, but actually served to INCREASE them.

Fourth, after putting up with this cr** for too long, i tried to transfer my assets to another broker. Interactive Brokers was not cooperative with this process.

There are a host of other reasons to not use Interactive Brokers, and i will add to them at a future time.

This is my first blog EVER. I have nothing to gain from writing it, but i do hope to prevent others from making the same mistake I did by signing up with this horror of a brokerage firm.
  1 trader has found this review helpful
Per Hansen,
Copenhagen, Denmark,
Nov 10, 2012,

All the bad reviewers are blaming IB for their bad trades. Look at their spreads man. Nobody can come close, not even Oanda. They do not trade against you. They did not get to be that big by deception and fraud. They are exceedingly good at what they do: Execution at bare bones prices. That is their game, and their only game, and they at the top of it.
John Becker,
Houston, USA,
Sep 20, 2012,

I read the comments on Interactive Brokers and was shocked. I have had excellent (not perfect) service with any inquiry made on trades, commissions, fees, etc. In general, I have had no major problems. Their platform takes some learning time but works fine; their margin rates are the lowest I can find; they need more documentation for their platform and the format is awful. The firm is rated best by Barron's. I can't believe the responses here.
Old China Hand,
Hong Kong, Hong Kong,
Sep 1, 2012,

Traded with IB for many years. They don't trade against you. There are no re-quotes, I often get price improvement one limit orders - YES LIMIT orders. And I love the fact that I work orders between teh already tight spreas - ie. if I see a 1 1/2 pip spread, I can better the bid and quite often get my fill.

Service, it's hit or miss. I find the HK office quite good when I need to call but there are different levels of experience on their service desk. I rarely have to contact them though as things run very smoothly. Most important for me is that they are well capitalized and run a conservative business.
, USA,
Aug 15, 2012,

IB started fine. It is turning into a deplorable outfit with appalling customer service. The owner of this operation needs to listen on the phone conversations his workers have with clients. There is obviously no quality control with regards to professionalism and decency. I had some complaints and recommendations and instead of compassion I got a gangster attitude and smart alek responses. Most of the people who work there are very professional but the one who ruins it ruins it for everyone. I am seriously thinking of going to the competition as soon as I can find a broker that is on the same level. The owner of this company obviously does not have a role in monitoring and weeding out shockingly rude behaviour to simple questions regarding new products and why IB doesn't have new products it should have. Instead of writing down the responses they just tell you to make an online request, which is a hassle because Google Chrome does not work well, with their platform. The guy who answered didn't have the decency to refer me to tech support, was apathetic,and said the Google Chrome issue was "your problem". He had no intention of making his customer happy and just answers the phone for his paycheck. A smart alec,antagonistic, rude punk answers the phone, not a civilized professional. And when I requested to speak to customer service, I was put on hold forever. I gave up. State officials and the Better Business Bureau should be notified.
  1 trader has found this review helpful
help me,
China, China,
Aug 11, 2012,

No possibility to complaint with Interactive brokers Asia and Salvatore Recco

Due to instability of Interactive Brokers systems and incompetence of "Salvatore Recco", I lost lot of money. It would not have happened with a competent and professional broker. But Salvatore Recco(Head of Institutional Services Asia) was slow, not polite, unprofessional, giving lame excuses and possibly make big money on my back.

0/IB asia has no independent complaint officer(the CEO so wont bother to answer). If a senior IB staff is incompetent, you could not complain.No one is checking what they are doing in Asia, so manipulations of the records/transactions and wrong doing can be done by their staffs in Asia.
1/ zero transparency: you wont get any records ( transaction, transcripts,...). "Salvatore Recco" is blocking my access to any records because he made the mistakes.
2/ you will not be able to speak or see face to face, "Salvatore Recco"or a manager or a complaint officer in Hong Kong or Asia. They will just hide and send you a small potato guy.Thank to The small potato, I discovered that Salvatore Recco was lying and the staff might know his wrong doing.
3/ IB/Salvatore Recco will hide and refer you to a US complaint or any virtual manager in other continents.
4/ their methods in order that you give up your complaints, its their complaints tickets systems, it will take many months/ years instead of a day. They will tell you that they will get back to you within few days but instead give you lame excuses few month later. By that time all records could be modified by IB.
5/they have many others tricks so be careful, they can make you push to accept new rules at their favors when you later login,...
6/ they are not going to compensate you for their staffs mistakes for sure! Because They do not have any compensation fund aside in Asia !

On internet I find others complaints about "Salvatore Recco", if you have any problems with him or IB, please help me. I spend money on a lawyer and complaint SFC and regulator without any answer!!!
Help me because "Salvatore Recco" is blocking my complaint as he was the one involved and a head and possibly make a big money in my back!

Baltimore, USA,
Aug 9, 2012,

After reading the poor reviews, I think I needed to come in the defense of IB. I've had an IB account probably for over 10 years. Tried many other brokers and this one is the best for me. I think most of the problems are 1) people do not take the time to learn their platform, they have many online courses to do that; 2) if your trade gets closed out because of your low margin, reread their policy; 3) IB is geared to professionals and if you need hand holding they are not the place for you to start. Their phone support is poor. 4) They are one of the largest brokers with the most capital in the world and do not do high risk trading where they will disappear with your money - if you don't think about the safety of your account your playing with fire at other brokers 5) they have the best ways to interface into their platfrom if you have that level of sophistication, ie, Java, C++, Excel etc. Others don't come close. 6) Seems some of the bad posts are from their competitors :)
Mark ,
Philadelphia, USA,
Jul 19, 2012,

IB has the worst customer service in the world. They actively lie to you and most of the time will never get back to you. They will not speak with you period. If there is a problem, they won't resolve it. For three months I have tried to spend our soft dollar and finally, we just switched brokers and still have tons left and now they are saying, well you can't use softdollars because you're closing, yet for three months, they wouldn't retun emails or chats or anything. SIMPLY TERRIBLE STAY AWAY. There are too many other options. Note, they are missing earings as people see how bad they really are.
  1 trader has found this review helpful

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.

Monthly Trade Value: USD<= 1,000,000,000
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.