Interactive Brokers Review

2.42 · 159 REVIEWS
Updated: Dec 14, 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 Deposit: $25,000
Established: 1978
Address: One Pickwick Plaza, Greenwich, CT 06830, United States
Customer Service: Unknown
Regional offices:
Regulations: ASIC #AFSL: 453554, IIROC #, SFC #, SEBI #INZ000217730, CSSF #, FCA #208159, FINRA #, SEC #
Prohibited countries: Unknown
Trading platforms: TWS
WebTrader: ❔ Unknown
Mobile Trading: ❔ Unknown

Trading Instruments

Currencies: (20+)
CFD: (4890+) Gold, Silver, Stocks, Stock Indexes, Bonds, Oil, Other Commodities

Trading Conditions

Managed Accounts & Social Trading

Deposit Methods: Bank Wire (Bank Transfer), ACH (Automated Clearing House), BPAY, Check, Direct Debit, Local Bank Deposits, Transfer from Existing Broker
Withdrawal Methods: Bank Wire (Bank Transfer), 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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2.42 · 159 REVIEWS
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Traders Reviews

Sofia, Bulgaria,
Dec 13, 2021,
Registered user

Best retail broker, but...TWS needs to go

Service use: Live

Length of use: over 1 Year

So in my opinion without any shadow of a doubt Interactive are the most reliable broker in the world for a retail trader. I would give it a 5 star review, but TWS software is so bad that I can't do that. Even entering a trade is a pain in the ***. You are more or less stuck to either purely investing or if you try to trade things like FX you need to use 3rd party software.

The only thing they need is a platform like Saxo's new web trader and we would have an ideal broker. To be fair, the software is so bad that I even moved back to Saxo after leaving them for IB despite the insane pricing of Saxo.
  1 trader has found this review helpful
IB review,
Switzerland, Switzerland,
May 17, 2021,

No understanding for any bad comments / IB bashing

Service use: Live

Length of use: over 1 Year

I am shocked about these bad reviews? For me personally that has nothing to do with reality sorry. I have known IB for many years, the trading possibilities, the speed and reliability of the order execution and thus also the low slippage, what I believe to be the absolutely lowest fee structure on the market and the security of customer funds, both due to the deposit insurance offered and the financial potency of IB makes IB appear unrivaled on the market. In every broker comparison, IB should be clearly in first place from my point of view. Oh yes, and its founder Thomas Peterffy is also still very entertaining and personable on CNBC and he shows the CNBC moderators who is the boss in the ring ...; - )
  1 trader has found this review helpful
Turkey, Turkey,
Mar 27, 2021,
Registered user

Teribble, unethical,scam

Service use: Live

Length of use: 6-12 Months

they have an absurd system. They have a system called two-factor authentication and you can never log in to the system even from websites that are not working. They want your personal information and I can still not login to the system. I am calling customer service, I cannot reach for half an hour I cannot contact customer service via e-mail. I have open positions and cannot intervene. If my shares cause me serious harm. What's the name of this is not a fraud. Scam.

Mar 26, 2021 - 1 Star You have a very silly site and platform. You have a silly system called two factor authentication and it doesn't work on android systems. I want to cancel it does not cancel. customer service is zero. I cannot reach as a customer. You are giving the phone number, cannot be reached. Cannot be reached by email. All I want you to do is to log back into the system, but I can never log in. I have open positions, I cannot intervene. You try to portray yourself as a top-notch institution aimed at professional users, but you are a confused institution and you have nothing but an absurd system that confuses customers
  1 trader has found this review helpful
Mar 24, 2021,
Registered user

The worst broker ever! Ever!

Service use: Live

Never experience such terrible experience for this broker, literally no customer service, every time wait for 2 hours and nobody pick up the phone, and there is no live chat at all, the app sucks the most. And most importantly, do not deposit any money or security into this broker, they are robbery and use every reason to reject your transfer and dont give you any explaination. The worst worst worst broker ever!!!!!!
San Francisco, USA,
Feb 9, 2021,


Service use: Live

Length of use: 0-3 Months

I moved to IBKR from Robinhood because RH lacked a standard feature to view daily realized gains.

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...
  1 trader has found this review helpful
Singapore, Singapore,
Dec 23, 2020,
Registered user

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.

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.

Do I have a case against them? What can I do? Anyone
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.
  1 trader has found this review helpful
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.
  1 trader has found this review helpful
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.
  6 traders have 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.