Interactive Brokers Review for 2019

Interactive Brokers Rated 4/5

Interactive Brokers Introduction

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

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of Interactive Brokers we break down 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.

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.

Open Interactive Brokers's Website

As with any investment your capital is at risk, losses can exceed deposits.

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

With this 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 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

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

What we like

  • Used by over 10,000 traders
  • Established in 1977
  • Regulated by Financial Conduct Authority
  • Min. deposit from $10000

What we don't like

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 platforms

Interactive 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 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.