Interactive Brokers Review 2023

Investors and traders aim to build and expand their portfolios by partnering with experienced brokers and brokerage services. These services help them diversify investments and gain higher profits from their trading activities. However, not many brokers are physical people. Interactive Brokers (IBKR) is a digital trading platform that serves traders with trade brokerage services. This platform is an avenue for people to become active trader who wants to dive into and explore various international markets.

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RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

In this Interactive Brokers review, we explore the platform in detail and understand how it attracts active traders worldwide. This review covers this platform comprehensively from its low per-share pricing structure and advanced trading tools. It also breaks down the low margin rates provided by IBKR services and evaluates the benefits, as it offers commission-free trades for ETFs and stocks, options with the tiered pricing structure model. So let’s find out why this platform is considered one of the top forex brokers in the market.

What Is Interactive Brokers?

Interactive Brokers is an online trading platform that provides a wide range of professional trading tools to help investors execute sophisticated trades, and provides high-quality research and education for traders. This online brokers platform is operated and managed by a corporate entity that provides brokerages service on these stock trades. Interactive Brokers was ranked as a top online broker in the 2020 global review, and the quality of its trading tools is one of the primary factors defining its success. Interactive Brokers offers access to various market analysis tools that can help in the progress tracking of global investing trends accurately. The Interactive brokers Launched in 1977 by Thomas Peterffy.

As a firm, Interactive Brokers for active traders also offers a seamless electronic exchange for equities, even spot gold, futures, particular stocks and options trading. Users even (sophisticated investors) can take advantage of the platform resources and make Stock trades across the categories from any part of the world using the IBKR platform, and these services are available around the clock. Interactive Brokers is also recognized for providing the most impactful and intuitive dashboard in its active trading platform which can help in making your financial decisions.

This robust trading platform dashboard helps users with portfolio alignments, and you can also link your investment types and credit card accounts and plan accordingly per your financial situation. It is packed with additional ESG market research, Social Sentiment Analytics, paper trading features, activity reports that are downloadable and next-level trading tools to identify and capture international trading opportunities in real time monitoring.

The IBKR’s offerings are a cost-effective solution for trading (low margin loans). The IBKR Lite pricing plan (tiered pricing, which has a flat trade commission of 0.65 per contract) attracts even casual traders with its “no-commission on equity capital trades” offering. Unlike other trading platforms and their high fees, Interactive Brokers charges a small fee to its customers, not commission free trading, making it a more sought-after online brokers platform for most traders.

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Features of Interactive Brokers

• Interactive Brokers offers an impact dashboard with several features designed to cater to every trader’s need; the company launched the dashboard in the late 2020s.
• Since the trading community has diverse needs, the advanced trading platform continues to add new financial products and more features based on the demands of active traders, & the traders should take advantage of that.
• All trading features by Interactive Brokers are directly connected with the electronic foreign exchanges. IBKR, the powerful trading platform, recently expanded its mutual fund marketplace and offered more than 26,000 funds across 285 fund organizations from different parts of the world.
• IBKR also has a free version of the checkup tool for every client; order presets are another feature interactive brokers offers that enable you to preset your order with multi strategies.
• However, our priority is to provide reviews that will help you make decisions. These best online brokers support cryptocurrency trading (Trade Bitcoin, Ethereum, Litecoin, Bitcoin Cash).
• The interactive brokers website has also included Bitcoin futures in its offerings, but traders cannot leverage crypto trading here.
• Users can place international and local trades based on the asset classes via this site’s Trading WorkStation (TWS). IBKR also uses a blended rate based on the tiers mentioned on the website. For example, for a balance over USD 1,000,000, the first 100,000 is charged at the Tier I rate, the next 900,000 at the Tier II rate, etc.

Key Features of IBKR Lite and IBKR Pro

• Feature Interactive Brokers offers are International trading tools, a financial product, a large variety of other content on its site, and customized day trading features at low margin rates.
• Total asset classes cross 135 global markets across 33 countries, which include stocks, ETFs mutual funds, forex trading, options trading, bonds, futures trading, cryptocurrency trading, penny stocks, and around 22 forex currency pairs.
• In this robust trading platform fractional share trading features are available with historical data.
• Special features of the IBKR Pro Platform are designed for intermediate investors as well as experienced traders and provide updates so you be on top.
• Availability to trade stocks, long and short, where users can borrow from 23,000 available trade stocks listed according to the true borrow availability.
• The best brokers provide Trading with OTCBB stocks, commonly known as penny stocks.
• At a low fee, mutual funds investments are available on IBKR Lite – these key milestones are achieved by the platform, which is one of the world’s largest marketplace for mutual funds (45,000+ funds).
• This marketplace enables investments in over 8,300 no-load funds and 17,000+ no-fee mutual funds, you can even opt for other investments including options, futures, etc with assets spread around 33 countries.
• IBKR Pro customers get access to another 25,000 no-fee mutual funds.
• For professional investors, Interactive Brokers also offers investment bonds, from corporate and municipal bonds to treasury and international bonds.
• The Interactive Brokers also offers listed range of assets on the website for experienced investors providing access to futures contracts, the options trade, and multiple futures options trades.
• The best trading platforms also provide access to forex trading, which includes around 23 international fiat currencies across 115 trading base currency pairs. The USA only offers retail trading if you are designated as an eligible contract participant by the forex brokers USA, but no such condition for forex trading.
• The user friendly pro platform and the lite platform also include features such as trading IPOs and issuing warrants on single stock futures.
• IBKR Lite Customers (preferred by casual investors) don’t have to maintain account minimum balances and thus are not charged with minimum activity fees when choosing their preferred investment products.
• IBKR has agreements with market makers, which provide the platform payment for order flow from each Market Maker for trades executed with that Market Maker.
• Another new feature Interactive brokers have in this marketplace is fractional share trading. It allows the users to trade shares of U.S stocks listed on NYSE, NASDAQ, AMEX, ARCA, BATS, or OTC Pink.
• United States investors can also trade spot gold in amounts as small as one ounce (Non-U.S stocks are not for fraction trade). The average daily trading volume of such shares on IBKR surpasses $10 million.
• The platform is a publicly traded company holding a $400 million market cap on fractional shares trading in 2021. So it’s a great choice for those who are high volume traders who want a portion of the company’s stock picks, making it easy to invest rather than the full priced share. (Note: TWS Build Version 979 or later supports fraction trade.)

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Services Offered by Interactive Brokers

• Interactive Brokers also offers a range of available products and services primarily to institutional investors, and it is designed to provide advanced trading services for sophisticated investors, active traders, and advanced traders.
• Moreover, Interactive Brokers continues to be one of the most vital service providers in the finance domain. It actively introduces new fintech products and services, provides education services, IBKR campus, and financial products, forex trading, and provides a traders academy portal with multi-format educational resources, spread around 33 countries, thus making it a solid option for institutional clients, and also the experience level of staff organizes this academy portal, thus you can choose from available products as per your experience and personal finance limit.
• The Broker services are helping investors become more active and gain in-depth experience in a highly competitive trading environment and thus become advanced traders (provides quality research and education, just like Charles Schwab).
• Both IBKR Lite and IBKR pro offer fractional trading; unlike many brokers like TD Ameritrade that don’t, they offer fractional shares services which makes them unique (Only with United States stocks).
• As an online broker, the platform also services the core market for the active users of both IBKR Lite and IBKR Pro. To maintain this unparalleled market access, IBKR Lite ensures that it offers various research tools to meet every possible trading need of its users.

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Is Interactive Brokers Regulated?

Yes, Interactive Brokers is a regulated broker for stocks and ETFs (the exchange traded funds). It is licensed in the US as Interactive Brokers LLC. The firm is regulated by NYSE SIPC FINRA (financial industry regulatory authority)  under the Hong Kong SFC. It is also regulated under the Australian authority – ASIC, registered under ARBN 091191141, AFSL 245574.

To diversify its operations as a broker for stock and ETF investors, Interactive Brokers is also regulated in Canada under Interactive Brokers Canada Inc. For these Canadian forex brokers, the Investment Industry Regulatory Organization of Canada (IIROC) is the key regulator in this network. The firm also is also protected by the Canadian Investor Protection Fund.

In Europe, foreign stocks and ETFs can be traded on this platform under the regulation of the Financial Conduct Authority. These UK forex brokers are registered under the FCA at 208159. In central Europe, the firm allows trading for stock and ETF trades for investors under Interactive Brokers Central Europe Zrt., a licensed and regulated entity under Magyar Nemzeti Bank, the Central Bank of Hungary. So if you were thinking earlier, is Interactive brokers safe for trade, then the the bottom line answer would be yes.

Interactive Brokers Review: Pros and Cons

Interactive Brokers Account Opening Process

• This IBKR safe broker offers a simple desktop trading platform for Stocks and ETFs. The advanced traders who want to be early users can quickly complete the onboarding process.
• The desktop trading platform has enabled e-sign to open trade accounts in recent years. The e-sign process is also used for unlocking account functions and features. The good thing is that the user can open an account on IBKR without making any deposit.
• However, an account minimum of 0 would lead to the closure of that account within 90 days of opening. Hence, the user must avoid maintaining the account minimum of 0 and deposit some funds instantly to avoid the inactivity fees, which lead to account suspension; also, keep in mind the account fees when opening an account.
• No account minimums are required; the user needs an email address, phone number, and country of origin and chooses the account types they need and can start stock and ETF trades after online verification takes place to confirm the email address and phone number.
• Document uploads for KYC procedures are completed digitally with data verified portals. Once the new account is set up, users can log in to IBKR Client Portal.
• Here the IBKR tools are made more accessible and can be found easily. Interactive Broker provides IBot, an AI-powered digital assistant that helps new account holders (inexperienced traders) with their needs.

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Types of Interactive Brokers Accounts

When it comes to account types, Interactive Brokers offers you various margin accounts and brokerage account for its users; the account minimum is charged as per the chosen account. More than 2.09M client accounts are there. Let’s discuss the below account types:

Individual Account and Joint Account

• It is designed for single users and enables the trading of assets held in the name of a single owner. Interactive Brokers offers users access to all functions and can also issue a Power of Attorney for adding secondary users.
• A Joint Account is designed for two or more users who could collaborate under joint tenancy or community property agreements. At least two owners hold the funds, and they get access to all features and can add more users with Power of Attorney.

Trust or IRA Account and Small Business Account

• It is designed for legally established entities and retired US individuals ( IRA, i.e, Individual retirement accounts.) The remaining features are the same as above.
• Small Business Account is offered to small-time traders and most people who are not professionally involved in investments. Such users are not compelled to pay high account fees and no transaction fee funds.

Interactive Brokers Trading Platforms

• The major plus-points of using the Interactive Brokers impact dashboard are related to its Traders Workstation, TWS. It is a powerful broker platform that creates an extensively customizable trading experience. It allows the users several comforts, such as a “For You” custom list for aligning the frequently-used tools.
• One of the feature interactive brokers provide is Trader Workstation (TWS) is a complex platform. To get hands-on experience, the user must invest hours in the learning center of the platform on how Trader Workstation works.
• The broker platform has a Mosaic interface, and it is very aesthetically pleasing and helps the users view the trader’s tools in building block arrangements. The Library further supports this type of workspace, which contains predefined interfaces and customizations. Trader Workstation is more focused on retail traders and investors with more experience.
• Interactive Brokers’ Client Portal is an easy-to-navigate platform. It is primarily used for research before investing and helps place better trades. The trade ticket system of this portal is also helpful in creating shortcuts.
• More customization options are available on the Client Portal, helping users place simple orders and advanced order types; however, they can only be placed on the TWS, whereas IBKR PRO Clients utilizing Trader Workstation can now access over 100 Order Types and Algos.
• The Trader Workstation is best for running trade algorithms on conditional multi-level orders. Though seeking investment advice is always recommended before you step in, which will eventually help you make the right investment choices.
• Interactive Brokers provides a facility for Socially Conscious Investors to select their investment criteria from 13 impact values and principles, Like clean air, land water, gender equality, LGBTQ inclusion, fair labor, etc. They can even exclude investment choices based on ten categories like animal testing, ethics, corporate political spending, and more.
• The overall Interactive Brokers’ trading experience is excellent due to the functions of TWS (trader workstation) and Client Portal, the opinions expressed by users, and tons of research providers materials available, which reflect the same. They also offer advisory or brokerage services.
• All possible asset classes can be converted into hotkeys to execute rapid order transmissions. Similarly, as per the brokerage reviews, the trade orders can be staged in batches and at scheduled times. Setting a date and time for these orders allows the user to create complex conditional orders and keep them activated until they are met. Best suited for seasoned traders.

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Interactive Brokers Leverage

The broker offers stock trading with low fees and low interactive brokers commissions, but not a commission free trading as per our Brokers review process. However, the platform leverages its services to make money for its customers.

Stock Loan Programs

• One of the feature interactive brokers provides is Stock loan programs that are good revenue streams for brokers.
• IBKR holds the stocks of users in their accounts and loans these to other traders and hedge funds. This helps in creating a purposeful level on short stocks.
• Interactive Brokers shares this leverage with the user through a 50-50 stock loan program.

Price Improvement

• IBKR uses its smart order router to identify the (interactive brokers pricing) improvements before other brokers.
• It attains good leverage on these improvements and makes an average profit of $0.62 per 100 shares.
• IBKR also receives volume discounts and its passed to clients as savings or price improvement depending on order routes.

Portfolio Leverage

Unlike IBKR Lite, the IBKR Pro clients can qualify for portfolio leverage. In this, the platform enables portfolio builder margining tools and lowers the margin interest rates to mitigate the overall calculated high degree risks. Typically, this type of leverage works best for traders invested in derivatives and inherently risky equity positions.

Interactive Brokers Margin

• The Interactive Brokers margin rates range is low on almost every trade value (margin trading). With Interactive Brokers, stock trading and crypto trading becomes a low cost-effective affair. Margin traders can benefit from IBKR as these low rates translate into higher profits.
• IBKR Pro customers, in particular, can enjoy a maximum marginal rate of 1.5%, which is very low compared to every other broker review, even platforms like TD Ameritrade have reasonable rates.
• IBKR Lite has the lowest margin rates of 2.5% per order (minimum charge). These low rates apply only to funds between $0 and $100,000. These rates drop even lower at higher balances, and the broker does not charge much on million-dollar trades.
• Interactive Brokers has an integrated cash management feature, which helps active investors to borrow funds at low margin rates via low-interest credit cards such as Mastercard.

Interactive Brokers API

• As per our review process, the new trading apps are used on a desktop web platform and a mobile trading platform. Hence, the Interactive Brokers API is dynamic.
• The IBKR trading APIs are built to support custom trading applications, and they can integrate trading into existing third-party applications and create intuitive front-ends.
• The APIs also support commercial trading software development. With the IBKR APIs, users can access trading products like stocks, options, futures, and currencies across 135 global markets in more than 33 countries from a single integrated account.
• API features the IB SmartRouting SM that helps search for the best firm stock trading and options trades at low prices and easy availability. In such ways, the Interactive Brokers APIs are used by individuals, proprietary trading organizations, hedge funds, and amateur brokers.
• The registered investment advisor services also use these APIs for large corporations and third-party software developers.

Interactive Brokers Fees

Let’s have a closer look at the platform commissions and fees:-

As per the Interactive Brokers reviews, it suggests that its fees are low, competitive pricing summary discussed below, unlike other large volume brokers. Their equity commissions are zero as Interactive Brokers pledges to offer the lowest trading fees. This broker also cuts its trading fees on comparatively expensive trades from the IBKR Pro account. However, the interactive Broker’s fee structure is complex; it does not charge a base commission but per contract fee. Here’s an overview of the trading commissions and fees:-

• A fixed fee of $0.005 per share traded. It includes most regulatory fees, trading costs, and exchange fees for a minimum commission rates of $1 per order, a maximum of 1% of the total trade value, and $0 for IBKR Lite.
• Tiered per-share fee on monthly volume orders. It starts from a $0.0035 per share for less than 300,000 shares per month. It goes up to a $0.0005 fee per share for over 100 million shares per month. The exchange and regulatory fees are extra in this scenario.
• Futures trades at around $0.85 per contract, with the volume between $0.25 and $0.85 per contract (not free trades).
• IBKR Lite accounts program charges no fees on the trades of US-listed equities (a zero commission trading, i.e, $0 for IBKR Lite customers). However, the IBKR Lite plan offers a flat commission rate of $0.65 per contract with discounts provided at $0.15 per contract other than in the US, the lowest margin rates, that is why the Lite plan is a great fit for less-active investors as well.
• Mutual fund fees vary sometimes and are as low as 3% of the total per trade value (not free trades).
• Margin interest fees for IBKR Pro customers are 1.59% of the total margin balances, with a limit of $100,000. one of the very few platforms with the lowest margin rates per trade.
• The broker charges low commissions and fees on trading Bitcoin, Bitcoin Cash, Ethereum, and Litecoin and has low margin loans.
• Forex trades cost between 0.20 and 0.08 basis points, depending on the chosen volume.
• The Interactive Brokers charges a standard commission rate of 1 $ per trade value for those who want to minimize their trade value cost or opt for small order sizes; generally, the standard trading commissions are the same per trade volume/share, but a fixed fee of 0.005 per share is applicable.
• No account fees are charged on closing or transferring IBKR accounts. Click here to know more about its fee, Interactive Brokers commissions structure, margin rate, per share cost, and commission free trades criteria.

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Interactive Brokers Deposit & Withdrawal Options

There are various methods used for depositing and withdrawing funds from IBKR Pro and the IBKR Lite platforms.

Deposit Options

On Interactive Brokers, minimum deposit requirements are not applicable. IBKR Lite users can deposit funds by using the following methods:-

• Wire transfer directly from IB-supported banks is provided for traders and investors.
• Deposit cash electronically from other brokers by using the Automated Customer Account Transfer Service (ACATS). This is also used for a position transfer.
• Fund transfers from credit cards such as Visa and Mastercard.

For IBKR Pro users, the Account Management page also enables deposits via a debit card. However, a debit card deposit sends notifications to the user that they must make arrangements with the respective bank to deposit funds in the future. The cash management feature makes the process easy for investors. Thus IBKR pro and IBKR Lite provide you with a variety of deposit options.

Withdrawal Options

Money can be transferred from the platform into bank accounts with several options. To withdraw money from IBKR, the user can generate a withdrawal request or even create an internal fund transfer into a different IB account. The supported withdrawal methods are:-

• Wire transfer
• US-regulated ACH transfer (for US-based user accounts only)
• Cheque under US currency (based on verified mailing address of US residents)
• Canadian EFT transfer for Canadian users only
• Single Euro Payments Area (SEPA)

Resources Offered by Interactive Brokers

• For extensive trading, the offerings interactive brokers have are a plethora of research tools, a volatility lab, hours of year testing, the Interactive Brokers research materials, video content, social sentiment analysis, and educational materials and its spread around 135 market centers.
• These resources help invest in the best mutual funds. Besides mutual funds, these tools are packed with credible information for ETF trades and futures with IBKR ATS support that help you trade discreetly. They also have trading labs that teach students via instructors computer science and finance.
• A lot of in-depth research has gone into making these resources valuable. The Client Portal and the IBKR mobile trading apps are the main avenues to access these research resources, and they are available on the Interactive Brokers Research tab of the Traders Workstation.
• These resources are updated based on real-time data scans (rigorous data validation process) across all international trading markets, thus providing site visitors with up-to-date data. Recently IBKR GlobalTrader has also been added to the platform that will help along with stocks, ETFs, options, hedge fund, etc.

Stock Screener

Under the Mosaic interface on the TWS platform (trader workstation), the user can access a market scanner called Stock Scanner. This tool scans and lets you dive deep into hundreds of data points (in depth data profile) based on criteria set for global options traders and equities. It is also a predefined scanner and can run custom scans on different markets. This screener has the same feature as the interactive brokers called Fundamentals Explorer tool, used on TWS and Client Portal to get insightful data points and analyst ratings from the TipRanks web platform. This stock scanner tool is powerful on Client Portal and TWS both.

ETF Screener

The ETF market scanner is used in the Mosaic mode to specify ETF trades based on their asset class. This is a predefined scanner but also runs custom scans with varying capabilities. The Fundamentals Explorer of this scanner is used to evaluate ETFs. This tool also has the Mutual Fund Replicator, which is used for identifying ETFs and finding the matching funds of a specific mutual fund. It is best used for generating high-liquidity trades on mutual funds at a lower cost. Additionally, the IBKR clients can get free access to a proprietary Hedge Finder by AltaVista. This tool is an ETF Screener alternative to detect and find similar ETFs.

Options Screener

Options Strategy Lab is a unique tool that allows users to get lucrative spreads on their trades based on the market research outlook. With this tool, users can compare up to five spreads and run profitability analysis on them before entering a trade per order directly from this tool with TWS. Thus Options strategy lab offers a lot of positives for users and sees potential profit or loss.

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Mutual Funds Screener

This mutual funds Scanner tool is available on TWS and helps in screening around 170 variables of mutual funds. This screening tool is also set to be added to the Client Portal and mobile platforms in the coming days.

Fixed Income Screener

Bond Scanner is an integrated tool on TWS and helps in exploring IBKR fixed-income inventory. This inventory is very huge and the tool is efficient in searching options based on asset classes, specific industries, and state-specific munis. This tool is currently not available on IBKR mobile app.

Calculators

In addition to these screen tools, the platform has various calculators. They are available on all IBKR platforms. The options-related calculators are used for calculating the margin based on order quantity and interest rate.

Trading Idea Generator

Idea generators used on IBKR are Refinitiv Significant Developments, well capitalized, Benzinga, and IBKR Market Signals. They are regularly updated with market-related blogs and contain new investors trading ideas and strategies.

News

More than a dozen of real-time resources for market news are available on IBKR platforms –

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Charting Tools

An extensively fully customizable charts tool is available for charting. It offers hundreds of technical indicators to collect, analyze, and chart real-time streaming market data which will be a good fit for your style.

Interactive Brokers Mobile App

The Interactive Brokers offers an app available on Android devices (Google play store) and iOS devices (Apple app store). With the help of various Interactive Brokers APIs, this mobile app has almost every functionality of the TWS and Client Portal web platforms. The trading apps are not ideal for pro investors as they may consume the processing power of the mobile device is extensive. However, the bottom line is when compared to the TWS desktop platform, the IBKR mobile app is easier to follow and has all available asset classes properly arranged for executing trades for professional traders like stocks, ETFs, options, and more along with trading shortcuts.

The app enables mobile watch lists. Interactive Brokers offers a feature that helps create and share data across web and desktop platforms in the form of real-time streams. Streaming market news services and a vast majority of research providers on the mobile app is also possible with watch lists integrated streams from Bloomberg TV or IBKR Traders Insight, mostly the update is carried out by the chief strategist (watch list syncing). Fundamental research on the mobile app is effective. The charting tool on the impact app is also suitable for quick market overviews. It also supports a suite of technical indicators that will be useful for professional traders. However, there are no drawing tools available on the Interactive Brokers mobile app.

This mobile app also creates an intuitive workflow, thanks to the Interactive brokers research team’s development and its gathering of valuable data points, which has some extra when compared to the desktop version. All trades can flow effortlessly from the app by following one step to the next. Data streams on the mobile app are available in real-time. A one-at-a-time approach is enabled to help traders focus on one stream instead of a multi-device approach that distracts the trading workflow.

Traditional trading sessions can be done with the app’s single interface. This mobile platform also unlocks higher research capabilities for users on the Client Portal and provides smooth ease of use. It provides numerous screeners and options, strategies, fundamental analysis, smooth commission free trades of stocks, ETFs, drawing tools, and technical analysis tools. Al this is extra compared to the desktop platform version.

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Interactive Brokers Security Measures

As per the Interactive Brokers reviews done by our research teams, the desktop platform deals with international clients from all parts of the world. It also manages trades and provides investment choices across hundreds of international markets. Hence, the priority for Interactive Brokers is maintaining robust security. The focus of this firm is to create a long-time record of best-in-class security. Today, Interactive Brokers stands true to this promise. Compared to brokerage industry average standards, the security of Interactive Brokers is stellar and liked by professional traders, and has good past performance in terms of security. So as per our research & analysis and what the Interactive Brokers offers, we can guarantee excellent future performance, and why interactive brokers competitors are trying to keep it with it.

Biometric login is used for mobile app users via face or fingerprint recognition. Several two-factor authentication (2FA) processes are enabled at critical levels of trading. The IBKR Mobile Key is one of the best security features that ensures that the mobile app is unlocked only with a combination of fingerprint and PIN verification.

Interactive Broker’s also holds SIPC insurance, provided by Lloyd’s of London. With this, the users can get protection on their funds up to $150 million. For IBKR Pro clients, a complete SIPC protection is provided under Lloyd’s policy, on your account balance which adds protection to another $30 million. The FDIC insurance for all ownership categories is $250,000 per program bank.

There has been no significant data breach at any IBKR user end-point location as per the Identity Theft Research Center. Money has not been fraudulently looted or misplaced on the platform. The IBKR Securities Class Action Recovery is a valuable security solution launched in May 2020. It runs automated security features that create a service of removing the administrative burden involved in securities class action lawsuits. With this service, all users are eligible to file company claims for risks that went undetected by IBKR.

Note:- Though many bodies regulate the broker, Interactive Brokers stands out from the crowd compared to other top forex brokers, with the support of regulators like the commodity futures trading commission (CFTC) and Securities Futures Commission (SFC) and more. Still, seeking investment advice is recommended before making a financial decision. Along with researching online brokers and own personal finance limits, the risk tolerance and not relying on past performance as future results are no guarantee.

Interactive Brokers Customer Support

Customer support services have an excellent overall rating at Interactive Broker’s. The primary customer service channel is 24/7 available on, over a phone call or online business days, and this customer service is available for all users. Other star rating customer service mostly includes a weekday phone line, an online live chat with human agents, and a secure message center. These customer support services help the IBKR customers instantly procure correct and needful responses.

IBKR uses AI-powered IBot to direct its customers to online FAQs and relevant educational resources. As per the review, it also holds a strong reputation for providing quality data customer service. The 24 hours customer service support team has put in years of effort to improve this reputation. It continues to expand the IBKR customer support with the IBot service. The Interactive Brokers offers this artificial intelligence engine that answers almost every IBKR question when asked in plain English. Today, IBot is also available on websites and the mobile trading platforms of Interactive Brokers.

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Our Verdict Interactive Brokers

Several online Interactive Brokers reviews have rated this platform high due to its market competence. As per the review, customers can comfortably add money and start expanding their diversified portfolio analysis on IBKR Robo advisors platforms. Interactive Brokers continue to put great effort into amalgamating technology with mass-market trading needs. It has an overwhelming wealth of other tools (even the traders academy helps educate the financial professionals and achieve their financial goals), which can deliver high-volume guaranteed profits to the users when used precisely and with investment advice.

Interactive Brokers stacks up against others and caters to various global asset classes and supports trading algorithms for complex strategies. Most brokers like TD Ameritrade and even some active traders may still find Interactive Brokers intimidating. According to many new investors, this platform contains too much information and tools to make a firm decision hence, the platform can be best for day traders. Those interested in advanced charting trading can use this platform to their benefit with its low commissions trade feature, fixed 0.005 per share, where investors can also gain the extensive capabilities and customizations of IBKR tools. Frequent traders will find this platform more pleasing, particularly for placing various order types in one go.

As far as an honest review goes, it has an excellent overall rating, preferred by active traders, resources like dow jones North America based, wall street, and the motley fool for the latest news, SIPC insurance support, and, indeed, there is no significant downside to IBKR platforms. IBKR is quite a Robo advisors service for the more casual traders crowd. The Interactive Advisors offers dozens of portfolios, which increases your chance of getting a higher return with low commission and low margin rates and even commission free for the active trader. But, being one of the low-cost brokerages, this platform is still at the point of effectively improving the financial conditions of its users. Still, being careful is essential while trading, which will make your financial decisions worthwhile and ultimately make money.

As per our final thoughts and all things considered, these regulated Brokers are an excellent choice for active traders as they are designed for buy-and-hold investors, ease of use, 24 hours customer service support, and help them improve by enabling various tools, range of investment selection at their disposal.

FAQs

Here are some answers to common concerns about Interactive Brokers.