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.
Interactive Brokers review
Overview
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
Well Regulated: This Interactive Broker review deduced that the broker tops the chart with its license with top-tier regulatory bodies across international regions. The broker has regulatory oversight from 10 financial market watchdogs making it one of the most credible brokers in the industry.
No Minimum Deposit: This unique feature sets Interactive Brokers on top trading charts; anyone can open a trading account with the broker without any compulsory deposit fee.
Offers a Range of Tradable Instruments: Like many other brokers, the broker offers its clientele a wide range of products from Interactive Brokers forex to options, mutual funds, bonds, and cryptocurrencies. Simply put, Interactive has every tradable instrument in the market.
Over 45 years of trading experience: Interactive Brokers have been active in the financial market for nearly half a century; this is proof that the broker is reliable and has a firm grasp of the intricacies of the financial market.
Unlimited Demo Account: Anyone can sign up on Interactive Brokers and practice their way to becoming expert traders. The broker offers its clientele an unlimited demo account, implying that novice and experienced traders can “up” their trading game at any time.
Accepts U.S. Clients: Interactive Brokers is one of the few brokers that offers its services in the U.S. Few brokers can comply with the regulatory and operative requirements in the U.S., and Interactive Brokers is one of the few that meet these standards.
Cons
-
No MetaTrader trading platform: Traders accustomed to MT4 and MT5 trading platforms will have to learn how to navigate the trading market on totally different platforms if they sign up on Interactive Brokers.
-
No Credit/Debit Card Option: While the broker affords its clientele several deposit and withdrawal methods, the Credit/Debit card option is unavailable.
-
Limited Customer Support: With its international coverage, one would expect that Interactive Broker has a customer support network of the same measure. However, this is not the case. The broker’s customer support channels are limited to nine phone lines unavailable around the clock, its website, and a live chat.
-
Complex Registration Process: the sign-up process on the Interactive Brokers platform is a lot more complex than most brokers. One will need more than an email address to sign up and has to fulfill specific terms and conditions to begin trading.
General details
Customer reviews
score
Read real reviews from traders all over the world:
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.
- 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.
- 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.
- 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.
- 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.
Tradable instruments
Tradable instruments on Interactive Brokers trading platforms include:
- CFDs
- Mutual Funds
Frequently asked questions
Find the right answer to your question below.
Yes, Interactive Brokers offers unlimited demo accounts where beginners can get familiar with trading in a risk-free environment.
Yes. Interactive Brokers is regulated by some of the world’s most reputable financial authorities, including FINRA, SEC, FCA, and MAS; hence, the broker is good and reliable.
There is no minimum deposit interactive brokers fee. You can open any trading account with $0.
Yes, Interactive Brokers is available in the U.S. under strict regulatory licenses and policies.
Interactive Brokers compared with alternative brokers
To see the full broker review click “See review”, to see the complete table and compare more brokers visit our Comparison page.
- Overall verdict
- Trading
- Minimum deposit
- Maximum leverage
- Fees
- Withdrawal fee
- Deposit fee
- Safety
- Top-tier regulators
- Investor protection
-
4/ 5
-
4.3/ 5
- N/A
- N/A
-
3.8/ 5
- N/A
- N/A
-
4.3/ 5
- FCA, CFTC, NFA, SEC
-
See review
-
4.1/ 5
-
4.1/ 5
- N/A
- N/A
-
3.7/ 5
- N/A
- N/A
-
4.1/ 5
- ASIC, FCA, BaFIN, CONSOB, CNMV, AMF
-
See review
-
3.9/ 5
-
4/ 5
- N/A
- 1:50
-
4.1/ 5
- N/A
- N/A
-
3.5/ 5
- CFTC, NFA
-
See review
-
4.2/ 5
-
4.5/ 5
- 100$
- 1:50
-
4/ 5
- $0
- $0
-
4.5/ 5
- FCA, CFTC, NFA, CIRO, CIMA, CYSEC
-
See review
-
3.3/ 5
-
3.8/ 5
- $10
- 1:2000
-
4/ 5
- $0
- $0
-
1/ 5
- No
- No
-
See review