0 People rated this page

Interactive Brokers

Highlights

  • Worldwide access
  • Lowest costs

Fee

Low

Account Minimum

Low

Description

Founded in 1978, Interactive Brokers is among the biggest US-based discount brokers. The broker is Considered safe as it has licenses from top-tier regulators, like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC). Additionally, The Interactive Brokers’ long track record, reputation, and publicly disclosed financials are great signs for its safety.

Highlights

  • Worldwide access
  • Lowest costs
  • Premier Technology

Pros

  • Wide range of products
  • Safe and trustable
  • Great research tools

Cons

  • User Interface is average
  • The inactivity fee is High
  • Cannot open the account Instantly

Main Features

Country of Regulation: USA, UK, Canada, Japan, India, HongKong

Trading Fees: Low

Inactivity Fees: High

Minimum Deposit: $0 

Products: Stocks, Options, Futures/ FOPs, Forex, Bonds, ETFs, Mutual Funds, EFPs, Hedge Funds, Robo Portfolios

Review

Fees

Interactive Brokers’ have one of the lowest fees in the market. The fees are competitive in all asset classes and transparent. Interactive brokers have trading fees, financing fees, and non-trading fees

A/C opening

The account opening process at Interactive brokers is fully digitalized and the minimum deposit is $0. All the accounts offered by IB’s falls into two major groups - accounts for investors & traders and accounts for institutions. 

The online account opening has a 5 -step registration process and takes 2 business days for account verification. 

Deposit & withdrawal

Interactive Brokers provides options of many account base currency and one free withdrawal per month, while subsequent withdrawals have a fee. 

The interactive Broker deposits are free of charge but the deposit options are limited as a bank transfer is the only deposit option. However, IB’s have introduced direct debit card deposits but only for US residents. For the money withdrawal, you have to visit the interactive brokers’ online portal and check the ‘Transfer & pay’ and ‘Transfer Fund’ option. It usually takes 2 business days to withdraw money.

Trading Platform

The Interactive Broker’s trading platform is available on the web, mobile, and desktop. The trading platform is easy to use for beginners as well. It provides a safe login and security options

Research

Interactive Broker’s research quality is very good and has valuable data in their research. The platform provides news feed, In-depth reports, and real-time analysis.

Customer service

You can connect with the Interactive broker’s customer service through phone, email, IBot

Country

Contact Number

United States

Toll-free   - 1 (877) 442-2757 

Direct dial -   1(312) 542-6901

Canada

Toll-free   -1 (877) 745-4222 

Direct dial -1 (514) 847-3499 

Europe

Toll-free    - 00800-42-276537 

Direct dial - +41-41-726-9500 

Russia

Toll free - 8-800-100-8556 

HongKong

Direct dial - +852-2156-7907 

Australia

Direct dial- + 61 (2) 8093 7300

India 

Direct dial - +91 22 61289888 

China

Direct dial - +86 (21) 6086 8586 

Japan

Direct dial (English) - +81 (3) 4588 9710 

Education

Interactive Brokers offers a wide range of quality educational materials and tools, including videos, courses, webinars, a glossary, and even a demo account.

Safety

The broker is Considered safe as it has licenses from top-tier regulators, like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).