Interactive Brokers Reviews & Customer Complaints

This Interactive Brokers Review analyzes these numbers to make sure traders enjoy the money they make while incurring as little costs as possible. The mobile app of Interactive Brokers is also available for traders who like to monitor their accounts 24/7. You have an assurance of security accessing an Interactive Brokers open account on your phone since it requires an IB key. Alternatively, you can use a Face ID or fingerprint on devices that support this security feature. The catch is, the assets you plan to transfer must be products that are available for trading like cash, options, bonds, etc.

In truth, only traders who consider themselves experts should be using this platform. The best part about the desktop trading platform is the Smart Routing feature, this feature automatically finds the best route for your trades. Once you get the hang of it, it can be a formidable ally to your everyday trading endeavours. Exchange-traded funds are a fast-increasing category of financial instruments that allow IBKR customers to invest in various ways.

Interactive Brokers Alternatives

Technical traders will enjoy more than 120 technical indicators and a suite of easy-to-use drawing tools. Tiered per-share pricing based on monthly order activity. This ranges from a high of $0.0035 per share for less than 300,000 shares per month to $0.0005 per share if you trade more than 100 million shares per month, with a minimum of $0.35 per trade. While IBKR is a very advanced platform, there are some gaps.

Outside of its trading platform, Interactive Brokers offers a wide range of educational tools and resources you can use to learn more about trading. Even if you haven’t decided on IBKR Lite vs Pro, you can study the markets and learn something new. IBKR has always been a top choice for futures brokers, professional brokers, and everyone in between, but its new IBKR Lite accounts can appeal to new investors looking to test the waters of trading.


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The IBKR Lite program, which offers free trades for U.S.—listed equities and ETFs . Beware – if you use IBKR the account transfer from your old brokerage firm will be on hold for 30days. Something they didn’t tell me after 3 rejected outbound account transfers. It takes 1,5 hours to get a hold of someone and even the reps are uninformed of their own polices. Let other traders know if this service is worth checking or should be avoided.

Interactive Brokers also offers a complete and comprehensive FAQ section, which can answer most of your on-demand questions. Interactive Brokers offers a unique Ibot chat request feature that can instantly respond to thousands of service inquiries. You can also sign up for Interactive Brokers’ daily trading newsletter from its blog and receive insights sent directly to your inbox. Over 10,000 readers currently rely on Interactive Brokers to fuel their trading insights. We may earn a commission when you click on links in this article. No information provided on should be considered a recommendation or solicitation to invest in any security.

Furthermore, to allay any fears, the company’s extra regulatory capital exceeds the statutory reserve requirements by more than $6.2 billion, well beyond the needed reserve requirements. Many traders and investors consider IBKR as a dependable service on which you can rely and in which you can place your trust. It is worth mentioning that Interactive Brokers has 1.54 million users and produces an average of $2.26 million in revenue from trading daily.

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A transaction for one share or less generates the lesser of 1% of total trade value or a minimum charge of $1.00. Fixed per-share pricing of $0.005 per share traded with a $1.00 minimum and a maximum of 1% of the trade value. The TWS Portfolio Builder tool lets you analyze the historical performance of a set of stocks chosen using one of the available investment rules. However, you can’t backtest custom algos or automate your trading using the IBKR software—you’ll need a third-party API application if you want these features.

Both IBKR Lite and IBKR Pro provide access to Interactive Brokers’ Client Portal, IBKR Mobile, and Trader Workstation . This is not the most diverse Interactive Brokers crypto offering we have ever seen but it covers the two biggest cryptos out there right now. If you consider yourself a crypto fanatic, then Interactive Brokers may not be the crypto broker for you. My only suggestion is that I’d like to see a little more flexibility with remote work allowed , plus better peripheral equipment should be provided for home use. Finally, the broker has a perfect track record regarding secure trading and integrity and adheres to tight rules and regulations, being a member of NYSE – FINRA – SIPC and regulated by the U.S.

Mobile Trading Platform

Similarly, you have access to real-time streaming data, charting, drawing tools, research, and news on all the platforms. News is available from dozens of sources, including Benzinga, Dow Jones, Morningstar, Seeking Alpha, Thomson Reuters, Refinitiv, and in-house commentary. Premium news subscriptions are available for a monthly fee. Any mobile watchlists you create are shared with the web and desktop platforms. Interactive Brokers offers TWS web and mobile trading platform. offers stocks, futures, options, ETFs, forex, CDs, bonds etc. for your personal investment and trading options.

Can Interactive Brokers go broke?

Since IBKR does not make proprietary bets, the risk of IBKR going bankrupt and client funds being tied up in a liquidation is significantly less than other broker-dealers that which take proprietary positions.

If Interactive Brokers is not the right broker for you, go ahead and check out our picks for Best Brokers for Beginners in 2022 for some alternatives. If you wish to read more about Interactive Brokers, click ‘Visit Broker’ to go to the broker’s website. We also have a detailed review of the broker that you can read by clicking on the ‘More’ button. Let’s take a look at its services one by one, following the criteria we set above, to get the whole picture. Toll-free telephone service is available 24 hours a day, & also six days a week for your assistance.

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From their easy-to-use Excel API to their industrial strength FIX API, IBKR offers something for every experience level. Interactive Brokers has addressed and closed more than 80 complaints in the last three years, according to the BBB. The investment app closed more than 50 complaints in the last 12 months.

What happens if you day trade 4 times?

If a trader makes four or more day trades, buying or selling (or selling and buying) the same security within a single day, over the course of any five business days in a margin account, and those trades account for more than 6% of their account activity over the period, the trader’s account will be flagged as a …

You can invest in stocks for dividend income or appreciate your capital. The company also exposes you to stock trade opportunities available both in America and other countries. Customer Service via phone call is available only on weekdays for 24 hours each day.

IB also offers a couple of more exotic assets, such as warrants and structured products. It only lags behind its competitors in terms of FX pair and CFD selection. The system has the same security features asthe web trading platform. You can log in using atwo-step authentication, which makes the platform unquestionablysaferto use.

  • Traders can’t currently backtest custom trading algorithms or automate trading with the standard IBKR software.
  • The respective minimum trade commission and maximum trade commission are $1 and 1% of your account’s total trade value.
  • From their easy-to-use Excel API to their industrial strength FIX API, IBKR offers something for every experience level.
  • Park had promised clients returns of up to 50 percent, but was resorting to fraud to cover her losses, squandering $23 million on bad investments.

After spending about an hour just perusing what was on the site, we realised just how well everything was laid out. You can find everything you need in the site at the top of the homepage; you can find the trading instruments, pricing, additional services and more. All the pages we checked out loaded quickly which contributed greatly to the overall positive Interactive Brokers experience and rating report we compiled. Aside from that, the broker offers an IBot service, which uses artificial intelligence to respond to inquiries in plain English. Customers may save time by using the IBot to quickly and easily find answers on the website and trading platforms.

Mobile Trade Experience

The SEC appreciates the assistance of FINRA and the CFTC. The interface was quite good but the colors used were just to dark. They should change it to light colors to make it easier to read the texts especially on the market feeds.

How do brokers pay carriers?

Freight brokers make their money in the margin between the amount they charge each shipper (their customer) and what they pay the carrier (the truck driver) for every shipment. Although it varies from one transaction to the next, healthy freight brokers typically claim a net margin of 3-8 percent on each load.

This is an overall networking tool, helping investors, brokers and hedge fund account holders, as well as others, to connect. The purpose of the connection can range from education to career development, advisory, administration and technology. Interactive Brokers has its own news domain called’Traders’ Insight’. It also providesintegrated third-partynews and recommendations on the IB desktop platform. Interactive Brokers provides a broad selection of fundamental data on all of its platforms.These includeincome statements for the past six years, a dividend calendar andpeer group companies,to name but a few. The system offers literally every feature you can think of,from attaching a delta hedge order to an options order to creating charts for synthetic securities.

The Account Homepage is a mess to navigate if you have sub accounts. Between my English and USA account the site structures are different . CS is a non-responsive disaster, and if you get an answer, most of the time it is a counterquestion by someone who did not understand the problem anyway. Now waiting for already 30 minutes for someone to pick up the phone.

That is why our Interactive Brokers review takes a closer look at the different methods you can use to contact their customer support team. We’ll let you know if there is a live chat feature available and whether or not you can contact them, via phone or email as well. In the event that Interactive Brokers goes bankrupt you need not worry about the money that you have tied up in your account. All user funds are kept in a separate trust account from Interactive Brokers. This means that none of your deposited cash will ever be used to cover the debts of Interactive Brokers themselves.

As well, IB allows transfer of funds between the internal accounts. And the third group developed for Other Services Accounts – compliance officers, administrators, educators, referrers. Throughout the long operation of the Interactive Brokers Group, its constant development and enlargement of the proposals affiliates execute Over-the-Counter over 800,000 trades per day. As well as introduces a new Order Management System for Institutional clients. From the negative side, we would only admit the advanced level of all proposal overall, plus quite high deposit for some accounts that makes IB more suitable for seasoned or professional traders’, also institutions.


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