Recommended for
- equity trading4.9/5
- forex trading 3.9/5
Trusted broker
Regulated by top-tier financial authorities
Popularity
128,955
people
chose this broker in the last 6 months
BrokerChooser Score
4.3/5
Interactive Brokers review summary
Interactive Brokers (IBKR) is highly recommended for those seeking all-round great services at low fees. It has an unrivaled selection of all asset types from exchanges across the globe. Its trading platforms offer great functionality and advanced research. However, the size and complexity of IBKR’s services is also behind its drawbacks. Account opening is long and tedious, platforms may be too complex for novice traders, and customer service can be busy. For a more streamlined experience, check out the IBKR GlobalTrader app to trade stocks, options and crypto for similar fees. In all, IBKR is the highest-rated broker at BrookerChooser.
Is Interactive Brokers a legit broker?
See how Interactive Brokers is regulated and whether you should have any concerns using it.
Interactive Brokers pros and cons
Pros
Cons
- Low trading fees
- Wide range of products
- Many great research tools
- Complicated account opening process
- Complex desktop trading platform
- Understaffed customer service
Interactive Brokers main highlights
🗺️ Country of regulation
USA, Ireland, UK, Hungary, India, Australia, Canada, Japan, Hong Kong, Singapore
💰 Trading fees class
Low
💰 Inactivity fee charged
No
💰 Withdrawal fee amount
$0
💰 Minimum deposit
$0
🕖 Time to open an account
1-3 days
💳 Deposit with bank card
Not available
👛 Depositing with electronic wallet
Not available
💱 Number of base currencies supported
23
🎮 Demo account provided
Yes
🛍️ Products offered
Stock, ETF, Forex, Fund, Bond, Options, Futures, CFD, Crypto, Warrants, Structured Products
Fees
Interactive Brokers has low trading fees and the best margin rates in the industry. For US clients, stock and ETF trading is free if they choose the Lite plan.
Account opening
IB’s account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated and account verification takes relatively long.
Deposit and withdrawal
Interactive Brokers offers several account base currencies and one free withdrawal per month. The main drawback is that you can only use bank transfer.
Web trading platform
The Interactive Brokers web platform is simple and easy to use, even for beginners, however there are some minor but annoying glitches.
Mobile trading platform
The Interactive Brokers mobile trading platform boasts a lot of functions and a useful chatbot, but its user interface could be better.
Desktop trading platform
IB’s desktop platform, TWS comes with great customizability and advanced order execution, but it’s not user-friendly and caters more to advanced traders.
Markets and products
At Interactive Brokers, you have access to an extremely wide range of markets and all product types are available.
Research
Interactive Brokers has almost limitless research possibilities, but the user interface is not the most user-friendly.
Customer service
Interactive Brokers’s customer service could be better. You can contact them via phone, email, live chat and an automated ‘iBot’, and receive mostly relevant answers. However, waiting times can be long, especially on the phone.
Education
Interactive Brokers offers a wide range of quality educational materials and tools, including videos, courses, webinars, a glossary, and a demo account.
Safety
Interactive Brokers is regulated by several financial authorities, including top-tier ones like the SEC in the US and the UK’s FCA. Its parent company is listed on the NASDAQ exchange.
