Interactive Brokers Review

2.302 · 154 REVIEWS
Updated: Nov 20, 2020 ·  · 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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2.302 · 154 REVIEWS
Forex Peace Army

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

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Traders Reviews

Portsmouth, USA,
Nov 19, 2020,
Registered user

They do not allow you to withdraw money.

Service use: Live

Length of use: 0-3 Months

They do not allow withdrawing funds from the brokerage account. I wrote in support, called them, they asked to send 2 documents. ID and bank statement. I sent them the documents, they confirmed that they received everything. I wait 17 days, the support does not react in any way, they answer with the same phrases. They say wait. I believe this is a fraudulent company that does not allow withdrawals. I have asked for support many times so that I can contact the superiors. I was refused. Help. How do I get paid?
T603460 - ticket number on which I attached documents.
U4664748 - my account number.
Houston, USA,
Nov 9, 2020,
Registered user

Rejected deposit not refunded

Service use: Live

Length of use: 0-3 Months

I made a deposit from my bank but InteractiveBrokers received but rejected the deposit because it was made as a bill payment.

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.
las palmas, Spain,
Aug 28, 2020,
Registered user

Worst customer service ever

Service use: Live

Length of use: 0-3 Months

I opened an IBKR account about a month ago and it really has been a nightmare of burocracy filling so much documentation. After I started trading many operatives have even been denied because they make it very cumbersome and difficult to know exactly what permissions are configured and which not. After you fill for permission to operate let us say futures or options it takes days to clear and in the meanwhile they never put you up to date.
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.
Georgia, USA,
Jun 17, 2020,
Registered user

Service use: Live

Length of use: 0-3 Months

I started an application with, was told it was sent for review and waiting approval. Later I got a message saying I need to fund my account in order to be considered for approval. That sounded odd but I went ahead and linked my bank account. Even After linking My bank account never got access to my account. Just a page saying my account is waiting for review and approval and I should be patient since you are experiencing overload.

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.
  5 traders have found this review helpful
Stateside, USA,
Jun 3, 2020,
Registered user

Combative, Lethargic, Obstinate CS and Broken systems

Service use: Live

Length of use: over 1 Year

I have been a commission-paying customer of this broker (as well as other brokers) for over 10 years. IBKR customer non-service is about the worst I have every experienced from any company. AT&T was worse, but not by much. IBKR is obstinate, combative, and lethargic. In any inter-broker transfer it is always "the other broker's fault" according to IBKR. In every single case it has actually been IBKR's screwed up systems that are at fault. They are awful.

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.
  2 traders have found this review helpful
Miami, USA,
Apr 29, 2020,
Registered user


Service use: Live

Length of use: over 1 Year

Im been trying to get my money back and close my account with IB and has passed more than a month and still I cant get to withdraw my money, they keep putting my account under review, I have called many times, talking to random Indian people that hardly you can understand what they say and you will never get a helpful answer, they will never connect you with a supervisor or manager, an they say they will call you back, and they DONT. Only option I have now is to file a FINRA complaint to report them.
here is the link if someone need it.;jsessionid=FE33BC89DF13D6BF821D4115398388A3?requestInstanceId=4591699

I hope this is helpful to anyone with IB issues out there.
stay safe.
  2 traders have found this review helpful
TOKYO, Japan,
Apr 28, 2020,
Registered user


Service use: Live

Length of use: 3-6 Months

I suggest to consider someone else. I'm currently reporting them to Finra, SEC and I also have a mediation request for them to approve. Next will be arbitration to recover money lost due to the Trading workstation not sending out a sell order. Literally the sell button just flashes or just do nothing and order does not go. I have videos to prove it. News and charts lose connection and won't load.I have screen shots to prove it. I'm on a 2gb dedicated line on a brand new Dell xps desktop with 32gb ram. The TWS software is the worst of all of them. Loses connection at least 10 times a day during trading. Most of the time it cannot reconnect on his own so you have to restart the platform. Customer support does not answer for days. Some of my tickets are still unanswered since March. I have been waiting for a month for a reply regarding the money lost on that trade I described before. I was told 15/20 working days. Then they just disappeared. That is why the Finra arbitration is next. Don't consider this company. EVER!
  1 trader has found this review helpful
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
  4 traders have found this review helpful
Antonios Panayotou,
Melbourne, Australia,
Feb 11, 2020,

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.
  2 traders have found this review helpful
Sydney, Australia,
Feb 6, 2020,

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!
  3 traders have found this review helpful
alabama, USA,
Feb 4, 2020,

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
  2 traders have 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.
  1 trader has found this review helpful
Cole James,
Florida, USA,
Aug 22, 2019,


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
Mar 6, 2019,

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.
  4 traders have found this review helpful
Ken Serra,
Sacramento, USA,
Feb 1, 2019,

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,


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
Nov 6, 2018,

Stay away...difficult to get a domestic wire out.

Deposits are so with withdrawals/wires. I followed their directions to a tee and they still refused/declined it.
  3 traders have found this review helpful
Toronto, Canada,
Oct 11, 2018,
Registered user

For sure they rob your money. They Rob small retail traders and help the big sharks to profit.

I lost all my hard earned money.
They developed an AI algorithm which tracks the small retail traders finds out their stop loss zone or their preset to hit the stop loss.

The moment you get stopped out, you can see level At level 2 and Tape the price will fly.

My expensive lesson learned: don’t get attracted by low commissions. This people are really high tech robbers.
A, Canada,
May 9, 2018,

They will rob your money. Stay away from Interactive Brokers,

1- They move the market against you for an unknown spread.
2- Quotes are always delayed even if you subscribe to real-time market data. If you complain, they tell you bla. bla. bla. Instrument price is always 15 to 20 cents higher or lower than market price so they can move the spread against you.
3- Wherever your stop is placed, they go get it then the price goes back to the real market price.
4- They will charge accrued interests on forex trades for positions you have closed already.
5- The high and low of day / hr is always different from market by 15 or 20 cents.
6- Their Mosaic trading platform glitches and freeze.
7- Extremely poor customer service. Their representatives are well trained to give you no clear answer and put your call on hold for as long as you hang up.

Overall they will rob you out. You'll never make money with interactive brokers.
Tampa, FL, USA,
Nov 23, 2017,
Registered user

Sales Rep Blew the Sale

I was very much interested in opening accounts at IB until I had contact with Mike Brady from the sales department in Chicago. He was a little “short” with me, and so I decided against it based purely on that interaction.
Boston, USA,
Aug 24, 2017,

IB provides a loser environment for day trading

I recently opened an IB account in addition to my existing TD Ameritrade Account for a side by side comparison. My conclusion corroborates what others are saying here: IB is either trading against you OR, allowing one of their large clients to. There seems to be either a delay in the data or a total disconnect with the time and sales data emanating from IB that is always to the DISadvantage to my account. Conclusion: Avoid
Joel Weiss,
Apr 27, 2017,

Simply horrible. You simply cannot make money with all these things stacked against you with trading with IB . . STAY AWAY FROM Interactive Brokers!!!

You lose a lot of money with your trading account with these guys. If you become just a wee bit deficient in your margin, they immediately liquidate every trade position in your account at market orders. Also at times on weekends, your account may retrieve nothing or missing pieces of info on your account. You may even receive incorrect password even while giving your correct password and you simply can't log in to view your account or place orders. Then later, all in 'well again' with your account. Also at times pre entered orders just disappear from your account even with 'GTC' selected. And lastly you can become disconnected at any time online, even after just a minute or so. Try entering a trade then!
  2 traders have found this review helpful
Hong Kong,
Mar 17, 2017,

There are other costs beyond commissions

I use IB as it is almost a one stop shop and its transaction cost is low. This is no doubt about it. I am still using IB. But I share my experience with you guys so that you know something could happy. I use their online TWS platform. It is not a very friendly platform to me initially especially their Stop options. I bought a certain amount of low volume/movement stock and set a stop limit of 10% against the bug price ($1.01). As was not familiar with the stop setting, I called their staff to guide me the steps.. Two days later, 15 mins before the market closed, my stock was hacked to sell out at $0.67 (a lot below my stop loss at $0.9!). It bounced back to $0.98 on market closed - I screened printed all the transactions and believed they were done by programs. I lost $13,xxx on that attack. Nobody would have known I had set unlimit stop loss on that stock except their staff. That was the lesson learned. One more advice is, if possible, don't just set stop loss and leave. My experience with IB has always been "the stop losses always hit" and most of the time they were the lowest of the days! You may wonder why it happens always. I am convinced they don't just live on commissions.
  1 trader has found this review helpful
Houston Trader,
Houston, TX, USA,
Jan 20, 2017,

Good Solid Broker

Solid execution, numerous markets, low costs, good technology. It's not an easy platform to learn but as a platform for executing my trading strategies, this is a very good broker.

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.