Skip to content
Country Flag AE
Select Country
Country selection We will display only brokers and information that is relevant to your country.
Currently selected country
Select a different country
Language See the content translated in your language.

Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

4
/ 5

Interactive Brokers review

Updated on Nov 6, 2024
|
14 mins read

Overview

The range of brokers on the market is extensive, and it makes choosing the ideal one time-consuming and often confusing. Careful research is key, along with identifying trading...
See full overview for Interactive Brokers
Countries
+85
Devices
Max insured
No
Our Verdict
4
/ 5
Commissions & Fees
3.8
/ 5
Deposit & Withdrawal
4.3
/ 5
Customer Support
3.4
/ 5
Account Opening
4
/ 5
Regulation & Safety
4.3
/ 5

Our 5-step process of verification and evaluation – How do we obtain information?

 

General inspection – 30%

Trading experience – 30%

Technical audit – 20%

Collective experience from collaborations with the broker – 10%

Interviews with real traders – 10%

 

See the entire process here.

Pros

  • Unparalleled Market Access 

  • Competitive Pricing 

  • Advanced Trading Tools

  • Excellent Trading Platforms

  • Quality Regulation & Protection

  • A Range of Educational Resources

Cons

  • Steep Learning Curve

  • Customer Service Could Be Better

General details

Type of accounts
Unlimited Demo Accounts
Standard Accounts
Segregated accounts
Trading platforms
Execution Model
MM
Deposit currency
USD
EUR
JPY
GBP
AUD
CHF
CAD
MXN
NZD
SEK
HKD
INR
Regulatory complience
FCA
CFTC
NFA
Deposit payment systems
Withdrawal payment systems
Support Languges
English
Spanish
Italian
German
Russian
French
Autotrading
Covestor (Interactive Advisors) Collective2 TradeStation IBKR API Algo Trading with IBKR MT4 EA MT5 EA
Contact details

Customer reviews

Read real reviews from traders all over the world:

A
Andre Roy
3 January 2023
Advantages: Low fees, large investment selection, good option for professionals
Disadvantages: Quite complicated website, high minimum deposit
I've been a day trader for a while, and I can tell you that working with this broker has been pretty good for me. At first, I used to struggle with the website there, it's pretty hard to navigate, but once I managed to figure everything out, it stopped being a problem. Fees there are low, comparing to other brokers, but if you're a novice trader, you may face some difficulties there because this broker focuses on advanced traders.
Z
Zak Mahmood
2 February 2022
Advantages: Certified broker with a serious legal basis Low transaction fees Free demo account with analytics You can manage your portfolio and orders using third-party software
Disadvantages: High depository fees (reduced by the amount of commission payments from transactions) Complex presentation of information on the site A lot of complaints about the work of the support service
Great company. I've been working with her for a very long time. In terms of trade, everything is at the highest level. There are any necessary tools, the terminal is free, which is very nice. A serious office for experienced traders with normal money.
See all 3 customers reviews

Accounts

Types of Interactive Trading Accounts

Interactive Brokers has different trading accounts to suit each client’s unique needs and help them grow in their trading journey. These accounts are classified as; Individual, Professional, and Corporate accounts. As earlier stated, the broker also has a demo account. More details of these accounts are discussed below.

  1. Individual Accounts: This Interactive Brokers’ account category is available in different forms, depending on the trader’s preference. All the accounts, however, offer the same functions and instruments. These accounts include:
  • The Standard Individual Account is available to only one account holder.
  • The Joint Account is available to more than one account holder.
  • The Trust account where a person tagged “trustee” is directed by law to hold assets for the benefit of another. There can be one or more trustees trading with this account.
  • Individual Retirement Account is only available to individual US tax residents.  
  • UGMA/UTMA account allows a person or entity to manage an account on behalf of a minor until a certain age. As with the Individual Retirement Account, this account is only available to US residents.
  1. Professional Accounts: The Interactive Brokers’ professional account is only offered to European traders who meet the broker’s strict registration conditions. To open this account, the trader has to first register an individual account and contact the broker to gauge its qualifications to upgrade their account. Once the trader meets the specified conditions, the retail accounts will be upgraded, and traders can enjoy the benefits of a professional accountant, which includes higher leverage.
  2. Corporate Accounts: As the name implies, this account suits corporations, partnerships, and other legal entities interested in investing in the financial markets. Companies can trade various financial instruments on multiple platforms and access research tools with this account.
  3. Demo Account: Interactive Brokers offers an unlimited demo account where traders can trade with virtual funds in a risk-free environment. On this account, traders can access all the features and functions available on the Interactive Brokers’ standard account.
Individual - Interactive Brokers
Phone trading
Scalping
Hedging
Trading 24 hours a day
Trailing stop
Deposit currency
USD
EUR
JPY
GBP
AUD
CHF
CAD
MXN
NZD
SEK
HKD
INR
Trading instruments
Forex
1:40
Number of currency pairs: 14
AUD
CAD
CHF
DKK
EUR
GBP
HKD
MXN
NOK
NZD
SEK
SGD
USD
ZAR
1:10
1:16
1:16
Minimum position size
0.25 units
Execution type
market
Spread type
Floating
Decimal places
4
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents

Tradable instruments

Tradable instruments on Interactive Brokers trading platforms include:

  • CFDs
  • Mutual Funds
Stocks
N/A
ETF
N/A
Currencies
N/A
Commodities
N/A
Futures
N/A
Options
N/A
Bonds
N/A
Cryptocurrencies
N/A

Frequently asked questions

Find the right answer to your question below.

Is Interactive Brokers good for beginners?

Interactive Brokers is a quality option with a range of features but it’s mostly aimed toward intermediate to advanced traders. There are several trading platforms available but they may be overwhelming to new users. However, that doesn’t mean newbies can’t learn. It will simply take time and effort to develop trading skills.

How safe is Interactive Brokers?

Having been around since 1978, Interactive Brokers is a solid choice for reliability and safety. Several top-tier entities, including SEC, ASIC, and FCA regulate this broker. However, it’s important to remember that all trading has some amount of risk and even the best broker can’t guarantee zero losses.

What are the fees for Interactive Brokers?

Interactive Brokers has competitive prices and they vary by account type chosen. The IBKR Lite account is commission free for US stocks and ETFs. However, the IBKR Pro account has fees that vary based on asset type and trading volume. For accurate, up-to-date pricing, visit the Interactive Brokers website.

Can I trade cryptocurrency on Interactive Brokers?

It’s possible to trade cryptocurrency with Interactive Brokers, and this practice began in 2021. The range of digital currencies available includes Bitcoin, Litecoin, Ethereum, and Bitcoin Cash. However, this type of trading is only available in certain US states through the IBKR Pro account.

What types of accounts do Interactive Brokers offer?

There are several account types available with Interactive Brokers and it’s important to assess each one carefully to find the best fit. The Individual account is a good choice for solo traders, and there are Joint accounts also available. Additionally, this broker offers Trust accounts, IRAs for retirement planning, and Corporate accounts for business owners. 

Interactive Brokers compared with alternative brokers

To see the full broker review click “See review”, to see the complete table and compare more brokers visit our Comparison page.

  • Overall verdict
  • Trading
  • Minimum deposit
  • Maximum leverage
  • Fees
  • Withdrawal fee
  • Deposit fee
  • Safety
  • Top-tier regulators
  • Investor protection
  • 4
    / 5
  • 4.3
    / 5
  • N/A
  • N/A
  • 3.8
    / 5
  • N/A
  • N/A
  • 4.3
    / 5
  • FCA, CFTC, NFA, SEC
  • Yes
  • See review
IG
  • Free VPS hosting
  • Specialized trading accounts
  • 24/7 instant money withdrawal
  • 4.1
    / 5
  • 4.1
    / 5
  • N/A
  • N/A
  • 3.7
    / 5
  • N/A
  • N/A
  • 4.1
    / 5
  • ASIC, FCA, BaFIN, CONSOB, CNMV, AMF
  • Yes
  • See review
  • 3.9
    / 5
  • 4
    / 5
  • N/A
  • 1:50
  • 4.1
    / 5
  • N/A
  • N/A
  • 3.5
    / 5
  • CFTC, NFA
  • Yes
  • See review
Forex.com
  • Specialized trading accounts
  • 24/7 instant money withdrawal
Start trading
73%-77% of retail investor accounts lose money when trading CFDs with this provider.
  • 4.2
    / 5
  • 4.5
    / 5
  • 100$
  • 1:50
  • 4
    / 5
  • $0
  • $0
  • 4.5
    / 5
  • FCA, CFTC, NFA, CIRO, CIMA, CYSEC
  • Yes
  • See review
FreshForex
  • Specialized trading accounts
  • Free VPS hosting
  • 3.3
    / 5
  • 3.8
    / 5
  • $10
  • 1:2000
  • 4
    / 5
  • $0
  • $0
  • 1
    / 5
  • No
  • No
  • See review
Choose brokers to compare Interactive Brokers to
43
0
Would love your thoughts, please comment.x
()
x