Interactive Brokers Review

2.292 · 157 REVIEWS
Updated: Mar 29, 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

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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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2.292 · 157 REVIEWS
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Let other traders know if this service is worth checking or should be avoided.

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Traders Reviews

Peter Pan,
Sep 20, 2007,

- almost every instrument can be traded
- fx spread really tight (during normal market conditions)
- true interbank, no dealingdesk
- account security and insurances in place
- commission in usual to lower range

- customer service very basic and needs time to react.

Highly recommended brokerage for FX, futures etc etc.
but be aware, with a normal sized account you are only a number and don't have a personal support.

pro's : 5*
con's : -1*
net : 4* or more
Sep 25, 2007,

I've been using IB since may 2007 for trading mini-indexes and forex.TWS is quite convenient tool.Good spreads and prompt fills,but not at news announcments,low commissions, however unobtrusive customer service spoils overall image.
Sep 27, 2007,

One of the best FX-brokers I worked with. Low spreads and commissions. High liquidity even during high volatile news times. (but spreads widens during that time)
the API I use for a full mechanical trading system. Very robust. I never had a major problem with the executions.
The negatives: terrible trading platform and P&L control. No hedging capability. No max deviation for market orders.
Server shuts down from 5-5:15 h.
Yaco Kirzner,
São Paulo, Brazil,
Oct 11, 2007,

I think is a good company. Is my third trial in electronic trading and I fill satisfied. The working station is just fine but I fill more comfortable using an Excel API interface. For me was a plus to find good API tutorials, material and even an Excel worksheet ready to use and to customize for my trading needs. Since my beginners point of view I think the commissions and spreads are very good. There are a couple of guys in tech support very professional and efficient, particularly a Spanish speaker lady – Mrs. Elizabeth – located in Switzerland. Personally I recommend her if you don’t speak English fluently. But in the other hand, sometimes the tech support takes to much time to answer and/or the answers are not really useful.
Oct 12, 2007,

Many people are happy with IB because of there low rates! But I do not know many others! I am very happy with their service!
Chicago, IL USA,
Oct 18, 2007,

I have been using them for 3 years without any problems. Very advanced trading platform that can be customized to do just about anything you want. Lowest rates and ability to trade just about everything out there.
Oct 27, 2007,

Have a live account with IB, but seldom trade with them - big turn-off's:

Platform: tons of bells & whistles, but far from intuitive to use, esp. order entry. Another big joke: you can't save a chart or page, so each time you want to trade another pair, you have to re-set all layouts.

Customer Svc: the WORST. For US clients, 8am-8pm, other times you have to call HongKong or Europe. Even during US hours, routinely put on hold for 20-30 minutes! Last not the least, Reps. not friendly at all.

Lousy exp. so far, rather dealing with bucket shops!
raleigh nc,
Nov 4, 2007,

I like this broker so far but i hate it that you dont have a 1-click order execution for always have to click bi/ask and then click transmit for your order to be executed .. that sucks and i have lost a $2000 gain cuz the market was moving very fast and i couldnt make a 1 click execution. Too bad they need to fix that .I called cuztomer service and they told me thats how it works .I know they can do better than that .
Dec 17, 2007,

I have stayed with this broker in live account for about 2 months. Generally I like this broker. The good things about them include low cost, quick excution, inerests on unused margin, one free withdraw every month. Actually additional withdraw fee is only $1 if you choose to withdraw electrically into your bank account and quick. My first EFT withdraw took only 1 day, second withdraw took 2 days. But amazingly the deposit took more than 10 day to complete! Account opening takes time. It took me almost 2 weeks to complete after I made a complaint! Another thing I don't like is their platform. Although their excution speed is fast, but is not user friendly. Especially their chart. Terrible! I always have to use MT4 besides their platform. It took me quite time to get used to their platform. In spite of these minor problems, I still want to give them 4 stars(if there is 4.5 stars, I would like to do so) because they are generally honest broker. No broker is perfect, but being honest is most important!
Pip Hunter,
United States,
Jan 4, 2008,

I opened an account with them. They asked me to fund it. I funded it with 10000 dollars. I was given an account login and password. Then when I tried to login I was unable to do so. I called them and asked them. They told me that my account was not approved yet and it will take a couple of days for it to be approved and then I can login. I waited for two days but no change.

I called back and asked about it. The CSR told me that my account was not approved and my account application has been rejected. I asked an anybody give me any reason, why my account was not approved. They had no answer. Then I asked why I was asked to fund the account if it was not approved. They had no answer. They sent me an email that I should apply later when my situation changed. I called back and asked WHAT SITUATION. How would I know what has to change to get my account approved. They had no answer. Finally I asked then to refund my money. It took me 2 weeks and a dozen calls to accomplish that.

I would RATE THEN SCAM. on the basis of my personal experience.

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.