Interactive Brokers Rated 3/5

Interactive Brokers Guide - Read our In Depth 2021 Interactive Brokers Review

This Interactive Brokers review was written by industry experts with over 20 years of financial experience in Forex.
The content in this Interactive Brokers review does not apply to US users.

Benefits of Trading with Interactive Brokers

Interactive Brokers Review 2021 Quick Summary
💰 Min Deposit 10000
👱‍♂️ Used By 10,000 Interactive Brokers users and traders
📆 Founded 1977
🌍 HQ United States
👮‍♂️ Regulation Financial Conduct Authority (FCA)
🚫 Excluded Countries Interactive Brokers is not available in the following countries : US

Open Interactive Brokers's Website

Losses can exceed deposits

learn more Learn more about eToro. 67% of retail investor accounts lose money when trading CFDs with this provider.

What is Interactive Brokers?

Interactive Brokers are a global online financial trading platform and multi asset broker founded in 1977

Over 44 years later Interactive Brokers has grown to offering retail investors Forex trading.

Interactive Brokers are a global broker. Interactive Brokers have a head office in United States.

Interactive Brokers have a listed stock symbol. This means that Interactive Brokers have publically listed and you can officially buy shares in Interactive Brokers on one of the worlds global stock market exchanges.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

We will dive deep in this Interactive Brokers review and assess how well the Interactive Brokers platform functions in its role as an international multiple financial asset trading platform for traders in 2021.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. Choosing an online broker like Interactive Brokers can be difficult. For a beginner, the first few hurdles can come in the form of what appears to be a complex mobile or online trading platform, hard to understand investment terminology and confusing fee structures. In our review of Interactive Brokers we breakdown the pros and cons. What Interactive Brokers are able to offer, what countries Interactive Brokers are available in. Who Interactive Brokers are regulated by and more.

Interactive Brokers Review Screenshot

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

This is why we have taken the time to review only the best brokerage firms, their practices, their fee structure and all other important aspects. We want you to evaluate and analyse and trust your hard-earned cash with only the safest and best of brokers. We hope you find this Interactive Brokers review useful.

This review of the Interactive Brokers platform is very detailed. If you are interested in trading with Interactive Brokers in any capacity please take the time to read and research the whole Interactive Brokers review.

We have tried to explain the ins and outs of financial trading through the Interactive Brokers platform as plainly as possible so that you the trader are as informed as possible before you start to use the Interactive Brokers trading tools and depositing and withdrawing funds from Interactive Brokers.

Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with. When trading financial assets with Interactive Brokers like Forex trading. you should have confidence in Interactive Brokers and know that the management of your financial investments on the Interactive Brokers platform are in good hands.

At the bottom of this Interactive Brokers review you can also learn about some pretty good alternatives to Interactive Brokers

With this Interactive Brokers review we hope to help you see if Interactive Brokers is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding Interactive Brokers that will help you get off to a good start in the world of online trading.

Interactive Brokers Review Table of Contents

Interactive Brokers review
Interactive Brokers is a Multi-Assets Trading Platform with over 100+ Assets

Learn more about Interactive Brokers. Interactive Brokers is a multi asset platform with 100+ tradable Assets. Assets available on Interactive Brokers include Forex.

Interactive Brokers trades in multiple financial asset types. An asset in financial investment, is any security or asset, tangible or intangible, that has a financial value attached. This means that Forex are considered financial assets.

Features of Interactive Brokers

Interactive Brokers review
What you should know

Interactive Brokers offer one way to trade: Forex.

With Interactive Brokers you will need a minimum deposit of $10000. You can sign up for a demo account to acquaint yourself with Interactive Brokers platform.

Interactive Brokers are able to accommodate various levels of traders whether you are experienced or a beginner.

Are Interactive Brokers safe?

When choosing a broker like Interactive Brokers the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 1977, and in operation for 44 years Interactive Brokers have a head office in United States.

Interactive Brokers is regulated. This means Interactive Brokers are supervised by and is checked for conduct by the Financial Conduct Authority (FCA) regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Interactive Brokers, this will be honored. If Interactive Brokers violate any regulatory rules their regulated status could be stripped.

Losses can exceed deposits

Is my money safe with Interactive Brokers?

Any payments funded to Interactive Brokers accounts by traders are held in a segregated bank account.

For added security Interactive Brokers use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

What are Tier 1 banks and why should Interactive Brokers use them?

A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses.

What does it mean to have your funds in Interactive Brokers deposited in a Tier 1 bank?

Having any money you deposit with Interactive Brokers means that your funds are safe in a bank that has enough capital to accommodate your withdrawal wishes even if Interactive Brokers goes out of business for some reason.

Therefore, we can safely conclude that Interactive Brokers is secure and safe.

That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.

While trading in financial investments, losing money rapidly due to trading Forex is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility. Interactive Brokers also clearly state on their platform that Losses can exceed deposits.

Now that we have answered some important questions regrding Interactive Brokers. let us look at the Interactive Brokers features in more detail.

Try creating two accounts when you are working with Interactive Brokers. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit Interactive Brokers

Losses can exceed deposits

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

How Interactive Brokers as a Company Compare Against Other Brokers

Broker IB eToro XTB IC Markets
Year Established 1977 2007 2002 2007
Head Office United States Cyprus, UK Poland Australia
Regulation Financial Conduct Authority (FCA) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)
Used By 10,000+ Interactive Brokers users 20,000,000+ eToro users 250,000+ XTB users 180,000+ IC Markets users
Negative balance protection No Yes Yes Yes
Guaranteed Stop Loss No No No No
Learn More Visit Interactive Brokers Visit eToro Visit XTB Visit IC Markets
Risk Warning Losses can exceed deposits 67% of retail investor accounts lose money when trading CFDs with this provider. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits

Interactive Brokers review
Interactive Brokers Pros and Cons

What we like about Interactive Brokers

  • Used by over 10,000 Interactive Brokers users and traders
  • Established in 1977
  • Regulated by Financial Conduct Authority (FCA)
  • Min. deposit from $10000

What we don't like about Interactive Brokers

Interactive Brokers review
Interactive Brokers Regulation and Licensing in more detail

We have checked and Interactive Brokers is regulated and supervised by reputable organisations. You are able to check every Interactive Brokers supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with Interactive Brokers. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria for license approval, this is determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect Interactive Brokers traders and provide a safe trading environment. Financial regulation and license approval is essential.

Interactive Brokers is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as Interactive Brokers you should be sure they're legitimate online agent.

Is Interactive Brokers Global?

Yes, Interactive Brokers is global as Interactive Brokers is available in over 194 countries.

Interactive Brokers is a global trading platform in the sense that it operates in 194 nations including nations in Europe, Asia, Oceania, and Africa. Major countries Interactive Brokers covers include the UK, Germany, Australia, South Africa, Thailand, and China. Interactive Brokers has a total of more than 10,000 users.

Interactive Brokers review
Interactive Brokers Fees Explained

  • Interactive Brokers withdrawal fees varies on payment method
  • Interactive Brokers does charge a fee for inactive accounts.
  • Interactive Brokers doesn't charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company. Brokers may charge clients various trading fees that you need to be aware of as they may affect your bottom line.

How Interactive Brokers Fees Compare Against Other Brokers

Broker IB eToro XTB IC Markets
Min Deposit 10000 200 0 200
Withdrawal Fees 10 USD Yes varies No
Inactivity Fees Yes Yes No No
Deposit Fees No No No Varies
CFD Commission Fees Yes No Yes Yes

Interactive Brokers Minimum Deposit

Interactive Brokers require a minimum desposit of 10000 GBP/USD when opening an Interactive Brokers trading account.

A minimum deposit is the minimum amount of money required by Interactive Brokers to open a new online brokerage account with them.

Dont be scared off by brokers like Interactive Brokers charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

Interactive Brokers Withdrawal Fees

Interactive Brokers withdrawal fees vary depending on your selected withdrawal payment method.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees, processing times and a potential currency conversion fee. The Conversion fee is dependant on your base currency, your recieving currency, your payment provider.

Interactive Brokers for example allow you to withdraw your funds to Bank Transfer, American Express, Cheque or Check.

Interactive Brokers Inactivity Fees

Interactive Brokers does charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

Interactive Brokers Desposit Fees

Interactive Brokers does not charge deposit fees.

You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

Interactive Brokers Commission Fees

Interactive Brokers does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

Interactive Brokers review
What can you trade with Interactive Brokers?

Be aware that Different entities under Interactive Brokers Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client.

You can trade a wide variety of instruments with Interactive Brokers over 100 instruments infact.

If you are looking for Forex brokers to trade currency pairs on global Forex markets Interactive Brokers offer over 10 currency pairs.

Compare Interactive Brokers with eToro and XTB below.

Losses can exceed deposits

How Interactive Brokers Trading Options Compare Against Other Brokers

Broker IB eToro XTB IC Markets
Instruments Available 100 2000 4000 232
Platforms Web Trader, NinjaTrader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac
FX / Currencies        
Forex pairs offered 10 50 57 65
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs Yes Yes Yes
Exotic Forex pairs Yes Yes Yes
Cryptocurrencies (availability subject to regulation) No Yes Yes Yes
Commodity CFDs        
Commodities Offered 0 31 21 19
Metals Yes Yes Yes Yes
Energies Yes Yes Yes Yes
Agricultural Yes Yes Yes Yes
Indiced & Stock CFDs        
Stocks Offered 2042 1696 110
UK Shares Yes Yes Yes No
US Shares Yes Yes Yes Yes
German Shares Yes Yes Yes Yes
Japanese Shares Yes Yes Yes Yes
Risk Warning Visit Interactive Brokers
Losses can exceed deposits
Visit eToro
67% of retail investor accounts lose money when trading CFDs with this provider.
Visit XTB
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Visit IC Markets
Losses can exceed deposits

Interactive Brokers review
Trading on Interactive Brokers web platforms and other applications

Interactive Brokers offer a user-friendly custom trading platform, available as a browser based web application. If you would rather see a comparison of MT4 brokers, you can so here.

Interactive Brokers also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.

See Interactive Brokers's platforms

Is the Interactive Brokers Trading Platform Secure?

Interactive Brokers safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. Interactive Brokers also urges its clients through its web platform to always look for the SSL security sign (a lock sign) o the browser while operating Interactive Brokers.

Interactive Brokers Trading Platform Options

Interactive Brokers does not offer the MetaTrader 4 (MT4), MetaTrader 5 (MT5) or cTrader trading platforms.

Interactive Brokers offer an their own custom trading platform developed and tested in house. The Interactive Brokers trading platform allows traders to track their portfolios, track the current markets, locate trade ideas and place trades.

The Interactive Brokers platform allows traders to filter the financial marketplace for trade opportunities that match a criteria.

With Interactive Brokers you can look for and examine opportunities with actionable research and stock evaluations. Get streaming real-time information on the Interactive Brokers platform including news and quotes. Discover possible trades with the strong charting tools found with Interactive Brokers. Interactive Brokers is available as downloadable applications or online through the cloud. Monitor your orders with Interactive Brokers and receive breaking news in your positions.

Interactive Brokers Trading benefits

  • Allows scalping
  • Allows hedging
  • Offers STP

Interactive Brokers Trading Accounts Offered

Below we give an overview on the account types that Interactive Brokers offer. Whatever you are looking to trade the varying Interactive Brokers account types will be able to provide you with what you need.

  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • STP account
  • Managed account

Can I try Interactive Brokers before I buy?

Interactive Brokers offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Losses can exceed deposits

Interactive Brokers withdrawal and funding methods

Please note that the list of Interactive Brokers payment methods below depend on the Interactive Brokers Entity and the Clients Country of Residence.

All available Interactive Brokers payment methods available to you can be found in your Interactive Brokers members area checked on the Interactive Brokers website.

Interactive Brokers offer the below funding payment methods. You can use any of the below deposit options if available in your region. learn more about Interactive Brokers

Interactive Brokers Payment Methods

  • Interactive Brokers accepts Bank Transfer
  • Interactive Brokers accepts American Express
  • Interactive Brokers accepts Cheque or Check
Broker IB eToro XTB IC Markets
Bank transfer Yes Yes Yes Yes
Credit Cards No Yes Yes Yes
Paypal No Yes Yes Yes
Skrill No Yes Yes Yes
Payoneer No Yes Yes No
Neteller No Yes Yes Yes

*please note available Interactive Brokers and other broker payment methods depend on the clients country of residence.

How can I start trading with Interactive Brokers?

When opening a trading account with Interactive Brokers, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Interactive Brokers trading platforms here. You will need to provide some basic documentation to prove your identity as part of Interactive Brokers onboarding and normal KYC identity checks. These checks are standard practice and help Interactive Brokers provide a safe financial environment for their 10,000 users.

Losses can exceed deposits

Performing trades with Interactive Brokers

Interactive Brokers do not have set minimum and maximum trade requirements. They may vary depending on the account, trader and the instrument. The maximum trade requirements vary depending on the trader and the instrument. As Interactive Brokers offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.

Interactive Brokers are one of very few brokers that claim to have no requotes, so you don't have to worry about slippage (your trades being ordered at a different price to what you executed them at).

As with most brokers, margin requirements do vary depending on the instruments.

Limit Risk When Trading with Interactive Brokers Stop Loss, Interactive Brokers Stop Limit Orders

A stop-loss order is an order placed with a broker like Interactive Brokers to buy or sell once the stock reaches a certain price. A stop-loss is designed to limit a traders loss on a security position.

Most traders need to use stop losses to protect themselves from huge risk unless the trade is hedged against another trade or the trader is not using leverage. Circumstances differ depending on the trade and the markets.

Education resources at Interactive Brokers

To trade effectively with Interactive Brokers, it's important to get a have a good understanding of the Interactive Brokers trading tools and the markets. Make sure you make full use of all education tools. This includes eduction tools with Interactive Brokers and externally.

Interactive Brokers offer a good selection of educational resources. Take your time, learn how the financial markets move. Take the time to learn how your trading platform works. Make buy and sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk.

Having an analytical approach may be a good way to approach trading with Interactive Brokers.

Take time to look around the Interactive Brokers platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at Interactive Brokers

As part of our Interactive Brokers review we review customer service options, response times and Interactive Brokers trading platform problem resolution effectiveness.Interactive Brokers support a wide range of languages including English, Francais, Deutsch, Espanol, Italiano, Ruskiyy, Mandarin, Cantonese, Nihongo.

Interactive Brokers have a triple AAA grade support and customer service rating because they offer a wide range of languages, live chat, email and phone support.

Interactive Brokers customer service support multiple languages from all over the world. Having a broker that can hire people from various locations in the world who can better communicate with you in your local language is a huge advantage well trying to deal with issues.

Your customer service experience with Interactive Brokers has to be a positive one for you to effectively trade the financial markets on the Interactive Brokers platform. Interactive Brokers should make sure all of your questions are answered and your Interactive Brokers platform issues solved. When a Interactive Brokers customer has any queries regarding Interactive Brokers the Interactive Brokers customer support team should take these issues seriously and offer a quick and effective solution. Interactive Brokers have a great client support team, which is why we have rated their customer service highly.

Livechat Support at Interactive Brokers

We tested the Interactive Brokers live chat and it works well. We sent messages to Interactive Brokers livechat through their app and website and recieved a response within 3 minutes. Its important you test the Interactive Brokers chat service yourself. a responsive chat service from Interactive Brokers gives a great support experience to Interactive Brokers chat service users. Its much better than waiting days for an email.

We tested communicating with Interactive Brokers support in multiple languages in multiple countries. The Interactive Brokers help center where able to quickly resolve our customer issues.

Email Support at Interactive Brokers

We sent several emails to Interactive Brokers and answer times overall were excellent. The fastest response from Interactive Brokers was less than 2 minutes and the slowest response was 3 hours. Support response times may vary for you with Interactive Brokers, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall very good email support from Interactive Brokers.

Phone Support at Interactive Brokers

We called Interactive Brokers and the call was answered very quickly. The call was answered in less than 1 minutes.

The Interactive Brokers phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual Interactive Brokers team by calling in varying languages. Interactive Brokers made an effort to make sure our queries were answered.

Overall great phone support from Interactive Brokers.

See how Interactive Brokers Support Compares Against Other Brokers

Broker IB eToro XTB IC Markets
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Francais, Deutsch, Espanol, Italiano, Ruskiyy, Mandarin, Cantonese, Nihongo English, German, Spanish, French, Italian English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more
Learn More Visit Interactive Brokers Visit eToro Visit XTB Visit IC Markets
Risk Warning Losses can exceed deposits 67% of retail investor accounts lose money when trading CFDs with this provider. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits

What you will need to open an account with Interactive Brokers

As Interactive Brokers is regulated by Financial Conduct Authority (FCA), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under Interactive Brokers Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore Interactive Brokers's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Interactive Brokers you can visit the Interactive Brokers trading platform here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.interactivebrokers.com/ on May 08, 2021.

Is Interactive Brokers A Good Broker?

We spent over 3 months examining Interactive Brokers in depth. Although we found some very useful aspects of the Interactive Brokers platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative Interactive Brokers broker.

  • Interactive Brokers have a good track record of offering Forex.
  • Interactive Brokers has a history of over 44 years.
  • Interactive Brokers has a reasonable sized customer support of at least 10.
  • Interactive Brokers are regulated by Financial Conduct Authority (FCA). This means Interactive Brokers fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • Interactive Brokers have regulation from a Tier 1 reputable country.
  • Interactive Brokers has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • Interactive Brokers have an international presence in multiple countries. This includes local Interactive Brokers seminars and training.
  • Interactive Brokers are able to hire people from various locations in the world who can better communicate in your local language.

Interactive Brokers Risk Disclosure

Losses can exceed deposits

Trading Risk Disclaimer

Trading financial instruments including crpytocurrency and foreign currency markets come with a very high level of risk. In regards to leverage and margin based trading you will be exposed to a high risk of loss. Some financial instruments and derivatives that are off exchange may offer varying leverage and may have limited regulatory protection and high market volatility. It should never be presumed that any investment products, techniques, indicators or any other presented resources will result in profits. You should be aware that investing may result in financial loss.

Interactive Brokers not quite right?

If after reading this Interactive Brokers review, Interactive Brokers does not fulfill your needs check out these Interactive Brokers Alternatives.

Click here to view the best Interactive Brokers Alternatives

We have spent years researching the best alternatives to Interactive Brokers. Click the links below to learn more.

If you feel some of the above Interactive Brokers are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of Interactive Brokers alternatives below.

Related Interactive Brokers Vs Comparisons

We have covered allot in this Interactive Brokers review, If you want to see how Interactive Brokers compares side by side with other brokers check out our Interactive Brokers Vs pages.

If you would like to see how Interactive Brokers stands up against other brokers you can read some of our Interactive Brokers comparisons below. We compare side by side some of our top rated Interactive Brokers versus comparisons. Read our indepth Interactive Brokers VS pages below.

Interactive Brokers review
INTERACTIVE BROKERS Frequently Asked Questions

Read our detailed Interactive Brokers FAQ Section updated for 2021.

Can I try Interactive Brokers before I buy?

Interactive Brokers offer a demo account so you can try the Interactive Brokers platform with virtual trading before you put down a payment. Virtual trading with Interactive Brokers is zero risk. Learn more here

What funding methods do Interactive Brokers accept?

Please note that the list of payment methods below depend on the Interactive Brokers Entity and the Clients Country of Residence.

Interactive Brokers offer the following funding payment methods Bank Transfer, American Express, Cheque or Check, among other payment methods.
Learn more here

Losses can exceed deposits

Is Interactive Brokers safe?

Interactive Brokers are considered safe as they are regulated by and checked for conduct by the Financial Conduct Authority (FCA). Any payments funded to Interactive Brokers accounts by traders are held in a segregated bank account. For added security Interactive Brokers use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Losses can exceed deposits

Is Interactive Brokers trading good?

Interactive Brokers is considered good and reputable to trade with Interactive Brokers. Interactive Brokers is used by over 10,000 active traders and Interactive Brokers users. Interactive Brokers offers Forex trading. Minimum deposit with Interactive Brokers is 10000.

Is Interactive Brokers trading Legit?

Interactive Brokers was founded in United States in 1977. Interactive Brokers has been facilitating trade on the financial markets for over 44 years. Interactive Brokers offers clients Forex trading. All funds deposited to Interactive Brokers are held in segregated tier 1 bank accounts for security. Interactive Brokers is regulated by Financial Conduct Authority (FCA) so can be considered legit.

Is Interactive Brokers a good broker?

Interactive Brokers is overseen by the top tier financial regulators Financial Conduct Authority (FCA) so can be considered a good broker. Interactive Brokers allows Forex trading.

Is Interactive Brokers trustworthy broker?

Interactive Brokers can be considered trustworthy. All money funded to Interactive Brokers is placed into a segregated tier 1 bank account. this means your money in not held by Interactive Brokers directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also Interactive Brokers is regulated by Financial Conduct Authority (FCA).

What is the minimum deposit for Interactive Brokers?

The minimum deposit to trade with Interactive Brokers is 10000.

How long do Interactive Brokers withdrawals take?

Withdrawing money from Interactive Brokers processing time varies but averages 2-5 days.

Is Interactive Brokers regulated?

Interactive Brokers is regulated by Financial Conduct Authority (FCA). Regulatory bodies conduct regular reviews and audits as part of Interactive Brokers maintaining their regulatory status. You can learn more about these reviews on the regulator websites.

Is Interactive Brokers a market maker?

Interactive Brokers is a market maker. Stocks, currency and other commodities and instruments will be purchased by Interactive Brokers even if no buyer is lined up.

How can I start trading with Interactive Brokers?

When opening a trading account with Interactive Brokers, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Interactive Brokers trading platforms here.

Is my money safe with Interactive Brokers?

Interactive Brokers is regulated by Financial Conduct Authority (FCA). One of the most important criteria for traders when choosing a broker like Interactive Brokers is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Interactive Brokers, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is Interactive Brokers a con?

Interactive Brokers is regulated and well established having been in business for over 44 years. Interactive Brokers is definitely not a con.

Can you make money with Interactive Brokers?

Although traders have had great success with Interactive Brokers. Trading on the financial markets with Interactive Brokers is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Losses can exceed deposits.

Does Interactive Brokers have fees?

Interactive Brokers withdrawal fees varies on payment method. Interactive Brokers does charge a fee for inactive accounts. Interactive Brokers doesn't charge deposit fees.

When was Interactive Brokers founded?

Interactive Brokers was founded in 1977.

How many people use Interactive Brokers?

Interactive Brokers is used by over 10,000 registered Interactive Brokers users.

What is Interactive Brokers Headquarters country?

Interactive Brokers has its head quarters office in United States.

Does Interactive Brokers offer negative balance protection?

Interactive Brokers does not offer negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does Interactive Brokers offer guaranteed stop loss?

Interactive Brokers does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does Interactive Brokers allow scalping?

Interactive Brokers offers scalping.

Does Interactive Brokers allow hedging?

Interactive Brokers offers hedging.

Does Interactive Brokers offer CFD trading?

Interactive Brokers does not offer CFD trading.

Does Interactive Brokers offer STP?

Interactive Brokers offers STP trading.

How many people use Interactive Brokers?

Interactive Brokers is used by over 10000 Interactive Brokers users and traders.

Is Interactive Brokers an ECN broker?

Interactive Brokers offers ECN trading.

Does Interactive Brokers offer a demo account?

Interactive Brokers offers a demo account.

Does Interactive Brokers offer an Islamic account?

Interactive Brokers does not offer Islamic accounts.

What are the funding methods for Interactive Brokers?

Please note that funding methods and funding options available with Interactive Brokers can be found in the Interactive Brokers Members area and depend on the Interactive Brokers client’s country of residence. Please check your specific available payment methods on the Interactive Brokers website. Interactive Brokers accept the following funding methods : Bank Transfer, American Express, Cheque or Check.

Interactive Brokers review written by Andrew Blumer and Mark Hansen

We hope you found our review of the Interactive Brokers brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

Interactive Brokers review written by Mark Hansen of Comparebrokers.co