Broker Details
Minimum Trade Size: | 0.25 |
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Maximum Leverage: | 40:1 |
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Minimum to Open Live: | $25,000 |
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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) |
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Traders Reviews
Is this a wronful closing of my positions?
Service use: Live
Length of use: over 1 Year
I had some short call options which was reflected as expired on their platform on 18 dec. And the stock closed below my option price (I have these in black and white), but still I found myself being assigned the position, resulting in loss for me as the stock gap up on Monday.
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This is their reply:
A short call position in your account is subject to assignment should a call purchaser elect to exercise their right to purchase the stock and your account be allocated through the random clearinghouse and broker assignment process. This call assignment will generate a short stock position in your account (assuming you do not have an offsetting long position).
The processing of exercise notices for American style options on days other than the expiration date is not performed on a real-time basis, but rather as part of a nightly batch process by the Options Clearing Corporation (OCC). The processing sequence, which by definition results in a notification lag of at least one day to the assigned client, is as follows:
OCC generally allows its clearing members to submit exercise notices on behalf of the clients holding a long position electronically throughout the day, but generally no later than the start of their critical processing in the evening (Day E).
As part of its evening position processing sequence, OCC randomly assigns the exercise notices it has received to the open interest of its clearing members. That information is then made available by OCC to its clearing members early in the morning on the following day (Day E+1).
At the point in which that information has been made available, clearing firms such as IBKR have already completed their processing of that day’s trade activity in order to provide timely statements, margin and settlement information to their clients. Also, since OCC carries the client positions of its clearing members in an omnibus manner (i.e., they do not know the identity of the clients, only the clearing firm), the clearing member must, in turn, execute a random process to assign those exercise notices to clients holding a short position in that particular option series.
Once IBKR receives notice of the assignment from OCC and completes its random assignment process, the assignments will be readily posted to the Trader Workstation of the impacted accounts and reflected on the Daily Activity Statement as of that day’s close (E+1).
Account holders should refer to the Characteristics & Risks of Standardized Options disclosure available on the OCC website, which is provided by IBKR to every option eligible client at the point of application and which clearly spells out the risks of assignment.
https://www.theocc.com/Company-Information/Documents-and-Archives/Options-Disclosure-Document
Do I have a case against them? What can I do? Anyone
They do not allow you to withdraw money.
Service use: Live
Length of use: 0-3 Months
T603460 - ticket number on which I attached documents.
U4664748 - my account number.
Rejected deposit not refunded
Service use: Live
Length of use: 0-3 Months
I have yet to receive my fund back after weeks, because InteractiveBrokers had registered an invalid fax number with my bank, and it is also using an incorrect fax number to communicate with the bank.
The customer service is a disaster: constant interruptions, poor communication, and refusal to listen.
Worst customer service ever
Service use: Live
Length of use: 0-3 Months
The support section has a place where I have filled several tickets which have never get answered.
It has a chat section where they put you in hold for hours waiting for a support representative.
I had the patience to wait three days ago for help using the chat but the person who attended me told me to search in their web for answers. I really could not believe it.
I have worked with several brokers and this is by far the worst experience in customer care.
Service use: Live
Length of use: 0-3 Months
Yesterday $3000 was Transferred from my Bank account to interactive brokers. Sensed Reg Flags, since I did not transfer the money myself only linked my bank account.
I Tried logging into interactive brokers account that was waiting to be approved but now its says my application has been deleted. Tried logging from my desktop but my user account is not allowed for paper trading either. I don't even know what's worse looking all over to how I can contacting you or you stealing my money from my back account and blocking me from an account you haven't even approved.
In my opinion, it's okay if I am not approved but it is not okay for interactive brokers to take money from my account without my permission. Writing to request my money back before I report this as fraud.
You shouldn't take potential clients money if you have no intention of providing the service.
When I applied for an account I thought interactive brokers was a reputable company. Apparently, interactive brokers is a scam. I feel Scammed and taken advantage of. Seems like you tricking people to link their bank accounts, take their money without even them deciding if they really want to do business with you. You have the right to approve me and as a client I have the final right to decide if I want to do business with you by finally transferring my money into my account. I linked my bank and you went ahead and transferred $3000 of my money without my permission.
I never got even an email confirming my account had been approved yet you took my money from my account to which i cannot even access. That's wrong.
Need my money back or hear from someone about this issue. I wonder how many people I treated like this and people don't even know it. I have all the supporting documents and the bank account to prove what you are doing is wrong.
I have already been approved somewhere, they didn't take my money first. I applied, they approved me, I linked my account and transferred as much money as I wanted. What you, Interactive Brokers are doing is wrong.
Combative, Lethargic, Obstinate CS and Broken systems
Service use: Live
Length of use: over 1 Year
On top of the bad CS, their systems break - web account mgmt interface is awful - parts of it don't work or hang up. Chat never works - nobody every shows up.
You would be reasonable to ask "Why then do you use them?" In the early days I found their trading platform to be superior to the competition - and so I put up with the other significant negatives. Now, they can't even get TWS right - they keep fooling with it, breaking formerly-working features. Even the trading platform is now a negative.
Don't go there.
DO NOT USE THIS BROKER, EVER
Service use: Live
Length of use: over 1 Year
here is the link if someone need it.
https://firms.di.finra.org/cdip-dynoapp/anon/accessForm;jsessionid=FE33BC89DF13D6BF821D4115398388A3?requestInstanceId=4591699
I hope this is helpful to anyone with IB issues out there.
stay safe.
DON'T SIGN UP WITH THEM
Service use: Live
Length of use: 3-6 Months
Charge you fees after reading there is not any fees.
Service use: Live
Length of use: over 1 Year
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.
Service use: Live
Length of use: 0-3 Months
Upon moving to IBKR, I immediately was stuck by how unfriendly the UI is. My watchlist view customizations wouldn't save, watchlist wouldn't sync across multiple platforms (desktop, to mobile) without taking extra steps to 'download' them. IBKR nickel and dimes you for data streaming, viewing real-time quotes, a basic free necessity on other platforms. At least 50% of the time, my portfolio data doesn't load and I have to refresh multiple times. Another annoying thing is you can only be logged into your account from one location.
Beware - if you use IBKR the account transfer from your old brokerage firm will be on hold for 30days. Something they didn't tell me after 3 rejected outbound account transfers. It takes 1,5 hours to get a hold of someone and even the reps are uninformed of their own polices. Avoid IBKR, you've been warned...