Interactive Brokers 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 42 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 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.
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.
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
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Interactive Brokers General Fees
- Interactive Brokers withdrawal fees varies on payment method
- Interactive Brokers does charge inactivity fees
Interactive Brokers Commissions
- Interactive Brokers does charge commission on CFD shares
What can you trade with Interactive Brokers?
You can trade a wide variety of instruments with Interactive Brokers over 100 instruments infact.
If you are looking at trading currency pairs Interactive Brokers offer over 10 currency pairs.
Compare Interactive Brokers with XTB and City Index below.
| FX / Currencies | IB | XTB | City Index |
|---|---|---|---|
| # of forex pairs offered | 10 | 50 | 100 |
| Major forex pairs | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | |
| Exotic forex pairs | Yes | Yes | |
| Cryptocurrencies | No | Yes | Yes |
| Commodity CFDs | Interactive Brokers | XTB | City Index |
|---|---|---|---|
| # of commodities offered | 0 | 26 | |
| Metals | Yes | Yes | Yes |
| Energies | Yes | Yes | Yes |
| Agricultural | Yes | Yes | Yes |
| Indiced & Stock CFDs | Interactive Brokers | XTB | City Index |
|---|---|---|---|
| # of Stocks offered | 1500 | 4500 | |
| UK Shares | Yes | Yes | Yes |
| US Shares | Yes | Yes | Yes |
| German Shares | Yes | Yes | Yes |
| Japanese Shares | Yes | Yes | Yes |
|
IB's
Instruments |
XTB's
Instruments |
City Index's
Instruments |
Trading on Interactive Brokers web platforms and other applications
Interactive Brokers offer a user-friendly custom trading platform, available as both a downloadable program or as a browser based WebTrader. If you are looking for a MetaTrader broker, see our comparison of MT4 brokers 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 IB's platformsInteractive Brokers Trading benefits :
- Allows scalping
- Allows hedging
- Offers STP
Interactive Brokers Trading Accounts offered:
- Demo account
- Mini account
- Standard account
- ECN 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
What funding methods do Interactive Brokers accept?
Interactive Brokers offer the below funding payment methods. learn more about Interactive Brokers
- Bank Transfer
- American Express
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.
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.
As a nice bonus, 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 trader, accounts and instruments, but as a guide, Interactive Brokers offer margin up to 1% on currencies.
Support at Interactive Brokers
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 rating because they offer a wide range of languages, live chat, phone and email support.
What you will need to open an account with Interactive Brokers
As Interactive Brokers is regulated by Financial Conduct Authority, 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:
- 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 10 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 their website 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 12th August 2018.
Interactive Brokers not quite right?
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INTERACTIVE BROKERS Frequently Asked Questions
Can I try Interactive Brokers before I buy?
Interactive Brokers offer a demo account so you can try before you put down and payment. Learn more here
What funding methods do Interactive Brokers accept?
Interactive Brokers offer the below funding payment methods Bank Transfers, American Express, among other payment methods. Learn more here
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. 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.