Interactive Brokers

András I.
July 27, 2022

Interactive Brokers Review Overview

Interactive Brokers (IBKR) is widely regarded as an excellent choice for investors looking for comprehensive services combined with low trading costs. The broker stands out for its unmatched access to a vast range of asset classes, covering exchanges from markets around the world. Its trading platforms are feature-rich and supported by advanced research tools, making them particularly appealing to experienced and active traders.

That said, the breadth and sophistication of IBKR’s offering can also present challenges. Opening an account tends to be time-consuming, the platforms may feel overwhelming for beginners, and customer support can be difficult to reach during busy periods. Investors who prefer a simpler setup may find the IBKR GlobalTrader app more suitable, as it allows trading in stocks, options, and cryptocurrencies with similarly competitive fees.

Overall, Interactive Brokers is considered a top-tier brokerage, especially for those who value global market access, powerful tools, and cost-efficient trading.

There’s no need to worry about safety, as Interactive Brokers has been around since 1977 and is one of the biggest brokers worldwide. It enjoys strict regulation in most markets, with US clients eligible for investor protection up to $500,000.

Interactive Brokers pros and cons

Pros	Cons
• Low trading fees	• Complicated account opening process
• Wide range of products	• Complex desktop trading platform
• Many great research tools	• Understaffed customer service

Interactive Brokers main highlights

Country of regulation	USA, Ireland, UK, Hungary, India, Australia, Canada, Japan, Hong Kong, Singapore
Trading fees class	Low
Inactivity fee charged	No
Withdrawal fee amount	$0
Minimum deposit	$0
Time to open an account	1-3 days
Deposit with bank card	Not available
Depositing with electronic wallet	Not available
Number of base currencies supported	23
Demo account provided	Yes
Products offered	Stock, ETF, Forex, Fund, Bond, Options, Futures, CFD, Crypto, Warrants, Structured Products

Our overall Interactive Brokers rating

Fees

10
Account opening

10
Deposit and withdrawal

5.4
Trading platform

10
Markets and products

10
Research

10
Customer service

10
Education

10

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Interactive Brokers review

Fees

Interactive Brokers has low trading fees and the best margin rates in the industry. For US clients, stock and ETF trading is free if they choose the Lite plan.

Pros	Cons
• Low trading fees	None
• Free stock and ETF trading for US clients
• Low margin rates

Interactive Brokers fees snapshot
Assets	Fee level	Fee terms
US stock	Low	$0.005 per share, min. $1, max. 1% of trade value. Free for US clients choosing IBKR Lite plan.
EURUSD	Low	Trade value less than $1 billion: 0.2 bps * trade value; min. $2
Mutual fund	Average	$14.95 per transaction or 3% of trade value, whichever is lower
Inactivity fee	Low	No inactivity fee

How Fee Levels Were Evaluated

We categorized Interactive Brokers’s costs as low, medium, or high by measuring them against the pricing of a broad set of other brokers.

Before looking at specific numbers, it’s helpful to understand the two main types of brokerage charges: trading fees and non-trading fees.

Trading fees apply when you execute a trade and may include commissions, bid-ask spreads, financing charges, and currency conversion costs. Non-trading fees are unrelated to placing trades and can involve expenses such as withdrawal charges or inactivity fees.

In the sections below, we outline the most important costs Interactive Brokers applies across different asset classes. For example, when investing in shares, commissions are typically the most relevant expense.

We also benchmarked Interactive Brokers’ pricing against two comparable platforms, Saxo Bank and DEGIRO. These peers were selected using objective criteria such as product range, typical investor profile, and overall pricing structure. A more detailed overview of alternative brokers is available separately.

To build a clear understanding of Interactive Brokers’ pricing, we begin with its trading fees.

Interactive Brokers Trading Costs

Interactive Brokers is known for low trading fees, making it an attractive option for investors who trade frequently.

Only clients based in the United States can choose the IBKR Lite plan, which allows commission-free trading in US-listed stocks and ETFs.

Investors from other countries can select the IBKR Pro plan, which offers two different pricing models:

The fixed-rate option generally applies a set fee per share or contract, covering both commissions and exchange fees.
The tiered option bases commissions on monthly trading volume. Higher activity typically results in lower per-trade costs, although additional exchange, regulatory, and clearing fees may still apply.

For the purposes of this analysis, the fixed-rate pricing model was used.

Stock and ETF Fees

Interactive Brokers generally offers very competitive commissions for stock and ETF trading.

For IBKR Pro users, the platform’s SMART routing system continuously scans multiple trading venues and automatically directs orders to the market offering the most favorable price, while also considering factors such as execution speed and automated order availability.

**Interactive Brokers stock and ETF commission of a $2,000 trade**
	Interactive Brokers	Saxo Bank	DEGIRO
US stock	$1.0	$10.0	$1.2
UK stock	$3.4	$11.2	$3.9
German stock	$3.0	$12.0	$5.9

The stock trading fee at Interactive Brokers is volume-based: it’s calculated either per share or as a percentage of the trade value, with a minimum and maximum. ETF fees are the same as stock fees.

It’s also great that Interactive Brokers provides fractional shares trading for US and European stocks and ETFs.

**Interactive Brokers stock fees**
Market	Commission	Min	Max
*North America*
US	$0.005 / share	$1	1% of the trade value
Canada	CAD 0.01 / share	CAD 1	0.5% of the trade value
Mexico	0.1 % of the trade value	MXN 60	No
*Europe*
UK	0.05% of the trade value	£3	No
Belgium, France, Germany, Spain, Italy, Netherlands	0.05% of the trade value	€3	No
Switzerland	0.05% of the trade value	CHF 5	No
Austria	0.1% of the trade value	€4	No
Poland	0.1% of the trade value	PLN 15	No
Norway, Sweden	0.05% of the trade value	NOK/SEK 49	No
Portugal	0.15% of the trade value	€6	No
Estonia, Latvia, Lithuania	0.2% of the trade value	€10	No
Hungary	0.1% of the trade value	HUF 200	No
*Asia-Pacific*
Australia	0.08% of the trade value	AUD 6	No
Hong Kong	0.08% of the trade value	HKD 18	No
Japan	0.08% of the trade value	JPY 80	No
Singapore	0.08% of the trade value	SGD 2.5	No
India	0,01% of the trade value	INR 6	INR 20

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Margin Trading Costs at Interactive Brokers

If you intend to trade stocks using leverage, it’s important to review the margin interest rates offered by Interactive Brokers.

What does the margin rate mean?
A margin rate is the interest charged when you trade on margin, which involves borrowing funds from your broker to place trades. In return, you pay interest on the amount borrowed.

These rates depend on both the size of the loan and the currency in which the funds are borrowed.

Interactive Brokers is widely recognized for offering some of the most competitive margin rates in the industry for IBKR Pro clients. In contrast, users on the IBKR Lite plan face higher annual interest costs. For instance, on balances below $100,000, the markup is approximately 2.5% for IBKR Lite, compared with around 1.5% under the IBKR Pro plan.

**Interactive Brokers annual margin rates**
	Interactive Brokers	Saxo Bank	DEGIRO
USD margin rate	5.3%	–	4.0%
GBP margin rate	4.5%	–
EUR margin rate	2.8%	–	4.0%

Margin rates are lower for higher debit balances.

Interactive Brokers annual margin rates for USD
Debit balance	Rate%
$200,000,000.01 –	4.33%
$50,000,000.01 – $200,000,000	4.33%
$1,000,000.01 – $50,000,000	4.58%
$100,000.01 – $1,000,000	4.83%
Under $100,000	5.33%

Foreign Exchange Trading Costs

To provide a clear overview of foreign exchange pricing, we calculated a standardized forex benchmark cost for major currency pairs. This all-in benchmark reflects the combined impact of commissions, bid–ask spreads, and financing charges across different brokers.

Based on this comparison, Interactive Brokers’ forex fees align closely with the broader market average. However, for a $20,000 trade in the scenario examined, these costs are higher than those charged by Saxo Bank.

**Interactive Brokers forex benchmark fee of a $20,000 30:1 long position held for one week**
	Interactive Brokers	Saxo Bank	DEGIRO
EURUSD benchmark fee	$14.7	$6.9	–
GBPUSD benchmark fee	$10.7	$4.7	–
AUDUSD benchmark fee	$8.4	$5.1	–
EURCHF benchmark fee	$4.7	$5.1	–
EURGBP benchmark fee	$12.6	$8.3	–

When you trade forex, IB charges a volume-based commission. The higher the volume of your trades, the lower commission you pay.

**Interactive Brokers forex commissions**
Monthly traded amount	Commission	Min
USD ≤ 1,000,000,000	0.20 basis point of the trade value	$2.00
USD 1,000,000,001 – 2,000,000,000	0.15 basis point of the trade value	$1.50
USD 2,000,000,001 – 5,000,000,000	0.10 basis point of the trade value	$1.25
USD > 5,000,000,000	0.08 basis point of the trade value	$1.00

Mutual Fund Fee Structure

With Interactive Brokers, investors located outside the United States can access a large selection of non-US mutual funds without paying any transaction fees, while most other fund trades typically cost a flat €5.

Likewise, clients based in the US can buy thousands of US mutual funds free of transaction charges. This includes offerings from major asset managers such as Allianz, BlackRock, and Schroders.

The minimum investment for an initial fund purchase is set at $3,000, while any additional investments can be made with a minimum amount of $100.

For funds that do not fall under the “free to buy” category, a straightforward pricing model applies. This single fee covers all applicable regulatory and exchange-related costs, ensuring transparent and predictable pricing.

**Interactive Brokers commission for a $2,000 fund purchase**
	Interactive Brokers	TradeStation Global	Zacks Trade	CapTrader	ARMO Broker
Mutual fund	$15.0	$0.0	$0.0	$0.0	$0.0

The fee structure is percentage-based and can have a minimum and a maximum. Note that for European mutual funds, the pricing is a bit different:

**Interactive Brokers fund fees**
Country of the fund	Fee	Min	Max
US funds	3% of the trade value or $14.95, whichever is lower	$3	$14.95
US funds with no transaction fees	0%	$0	$0
Euronext Fixed Pricing Structure	0.1% of the trade value	€4	€29.00
Fund Settle Exchange Pricing	Tier 1: €19, €5 in other tiers	–	–

Bond fees

Interactive Brokers has generally low bond fees.

**Interactive Brokers commission of a $10,000 government bond trade**
	Interactive Brokers	Saxo Bank	DEGIRO
US Treasury bond	$5.0	$96.0	–
EU government bond	$10.0	$96.0	$3.6

Interactive Brokers charges a volume-based commission with a minimum amount.

**Interactive Brokers bond fees**
Bonds	Volume	Commission	Min	Max
US Corporate	Face value ≤ 10,000	0.10% * face value	$1	$250 or 1% of trade value, whichever is lower
US Treasuries	Face value ≤ 1,000,000	0.002% * face value	$5	No
Europe	Trade value ≤ 50,000	0.10% * trade value	€2	No
Hong Kong Government	Trade value ≤ 15,000,000	0.08% * trade value	HKD 18	No

Options fees

Options fees at Interactive Brokers are generally low/average.

**Interactive Brokers stock index options commission of 10 contracts**
	Interactive Brokers	Saxo Bank	DEGIRO
US stock index options	$6.5	$30.0
UK stock index options	$19.2	$35.0
German stock index options	$16.8	$48.0	$10.8

You pay options fees depending on the number of contracts you traded in any given month.

If you choose the IBKR Pro tiered plan and use limit orders when trading US listed options, you’ll often find that fees will be lower than 65 cents/contract or might be even negative. That’s because IBKR’s Smart Routing uses many exchanges and some of them give you a rebate for adding liquidity to the market.

If you trade option spreads, IBKR Pro’s Smart Routing is very beneficial for you as this order type submits each leg at the best possible venue for execution.

**Interactive Brokers options fees for stock index options**
Market	Commission	Min
*North America – all options*
US, monthly contracts <= 10,000	$0.65 / contract	$1.0
Canada, monthly contracts <= 10,000	CAD 1.25 / contract	CAD 1.5
Mexico (AMXL)	MXN 25 / contract	MXN 25
*Europe – index options*
UK	GBP 1.7 / contract	GBP 1.7
Germany	€1.7 / contract	€1.7
Belgium, France	€1.5 / contract	€1.5
Italy	€3.0 / contract	€3.0
Netherlands	€1.5 / contract	€1.5
Norway	NOK 12 / contract	NOK 12
Spain	€0.8 / contract	No
Switzerland	CHF 2.8 / contract	CHF 2.8
*Asia-Pacific – index options*
Australia	AUD 2.0 / contract	AUD 2.0
Hong Kong	HKD 30 / contract	HKD 30
India	0.01% of the trade value	INR 6
Japan	0.12% of the trade value	JPY 100
Singapore	$2.85 / contract	$2.85
South Korea	0.2% of option value	KRW 1,000

Futures fees

Interactive Brokers’s futures fees are low.

**Interactive Brokers stock index futures commission of 10 contracts**
	Interactive Brokers	Saxo Bank	DEGIRO
US Treasury bond	$2.5	$40.0	$7.5
EU government bond	$19.2	$42.0	–
German e-mini stock index futures	$7.9	$48.0	$9.0

You pay options fees depending on the number of contracts you traded in any given month.

If you trade option spreads, IBKR Pro’s Smart Routing is very beneficial for you as this order type submits each leg at the best possible venue for execution.

**Interactive Brokers options fees for stock index options**
Market	Commission	Min
*North America – all options*
US, monthly contracts <= 10,000	$0.65 / contract	$1.0
Canada, monthly contracts <= 10,000	CAD 1.25 / contract	CAD 1.5
Mexico (AMXL)	MXN 25 / contract	MXN 25
*Europe – index options*
UK	GBP 1.7 / contract	GBP 1.7
Germany	€1.7 / contract	€1.7
Belgium, France	€1.5 / contract	€1.5
Italy	€3.0 / contract	€3.0
Netherlands	€1.5 / contract	€1.5
Norway	NOK 12 / contract	NOK 12
Spain	€0.8 / contract	No
Switzerland	CHF 2.8 / contract	CHF 2.8
*Asia-Pacific – index options*
Australia	AUD 2.0 / contract	AUD 2.0
Hong Kong	HKD 30 / contract	HKD 30
India	0.01% of the trade value	INR 6
Japan	0.12% of the trade value	JPY 100
Singapore	$2.85 / contract	$2.85
South Korea	0.2% of option value	KRW 1,000

Futures fees

Interactive Brokers’s futures fees are low.

**Interactive Brokers stock index futures commission of 10 contracts**
	Interactive Brokers	Saxo Bank	DEGIRO
US micro e-mini stock index futures	$2.5	$40.0	$7.5
UK stock index futures	$19.2	$42.0	–
German e-mini stock index futures	$7.9	$48.0	$9.0

Similarly to options, you pay a commission based on the number of contracts you trade.

**Interactive Brokers futures fees for stock index futures**
Futures	Commission
North America
US Future and Future Options	$0.85 / contract
US – CME: MES, MNQ, M2K CBOT: MYM NYMEX: MGC, SIL	$0.25 / contract
Canada	CAD 2.4 / contract (min CAD 2.4)
Mexico	MXN 25/ contract (min MXN 25)
*Europe*
Belgium	€4.5 / contract (min €4.5)
France, Germany	€0.40 – 0.80 / contract
Italy, Netherlands, Spain	€3 / contract (min €3)
Switzerland	CHF 4 / contract (min CHF 4)
UK	GBP 1.7 / contract (min GPB 1.7)
*Asia-Pacific*
Australia	AUD 1 / contract (min AUD 1)
Hong Kong	HKD 30 / contract (min HKD 30)
Japan	JPY 400 / contract (min JPY 400)
Singapore	SGD 4 / contract (min SGD 4)

CFD fees

Interactive Brokers charges low CFD trading fees.

To have a clear understanding of CFD fees, we calculated a CFD benchmark fee for the selected products. This catch-all benchmark includes commissions, spreads and financing costs for all brokers.

**Interactive Brokers CFD benchmark fees, for a $2,000 long position held for one week**
	Interactive Brokers	Saxo Bank	DEGIRO
S&P 500 index CFD fee	$3.3	$1.2	–
Europe 50 index CFD fee	$4.2	$1.6	–
Apple CFD fee	$4.3	$1.6	–
Vodafone CFD fee	$9.3	$24.5	–

We calculated with 20:1 leverage for stock index CFDs and 5:1 leverage for single stock CFDs.

In the case of stock index CFDs, all fees are incorporated into the spreads. When you trade stock CFDs, you pay a volume-tiered commission.

**Interactive Brokers stock CFD fees**
CFDs	Monthly traded amount	Commission	Min
US share CFDs	≤ $300,000	$0.005 per share	$1.0
European share CFDs	≤ €10,000,000	0.05%	€3.0
Australian share CFDs	≤ AUD 10,000,000	0.05%	AUD 5.0
Hong Kong Share CFDs	≤ HKD 300,000,000	0.05%	HKD 12.0
Japanese Share CFDs	≤ 9,000,000,000	0.03%	JPY 100.0
US 500 index CFD	–	0.005%	$1.0
UK 100 index CFD	–	0.005%	GBP 1.0
Japan 225 index CFD	–	0.01%	JPY 40.0
Forex CFD	≤ 1,000,000,000	0.20 basis points * trade value	$2.0

Cryptocurrency Trading Fees

Interactive Brokers provides several ways to gain exposure to cryptocurrencies, each with its own pricing structure.

Bitcoin futures can be traded on the CME Group. The commission is $5 per standard Bitcoin futures contract and $2.25 for Micro Bitcoin futures.
Bitcoin and Ether ETNs are available on the Stockholm Stock Exchange. Trades there are charged a 0.05% fee, with a minimum cost of SEK 49.
Grayscale Bitcoin Trust (GBTC) and other crypto-related investment trusts are accessible via the OTC market, with trading costs of $0.005 per share and a minimum fee of $1.
Direct cryptocurrency trading is also possible through Paxos on Interactive Brokers’ platforms. Commissions range from 0.12% to 0.18% of trade value, with a minimum charge of $1.75 per order (capped at 1% of trade value). No additional spreads, markups, or custody fees are applied.

Asset Management Services

Interactive Brokers also offers a managed investing solution called Interactive Advisors. This service combines elements of mutual fund investing with automated portfolio management and can be suitable for investors who prefer a hands-off approach or want added guidance.

In addition to standard trading commissions, Interactive Advisors charges an annual management fee ranging from 0.08% to 1.50%, depending on the invested amount. The minimum required investment is $5,000.

There are two main ways to invest through Interactive Advisors:

Complete a short questionnaire, after which a personalized portfolio is created and periodically rebalanced automatically.
Select from a range of ready-made portfolios overseen by professional portfolio managers.

Non-trading fees

Interactive Brokers eliminated their monthly inactivity fee in 2021. There is no account or deposit fee, either. The first withdrawal each month is free of charge while subsequent withdrawals carry a fee.

**Interactive Brokers non-trading fees**
	Interactive Brokers	Saxo Bank	DEGIRO
Account fee	No	No	No
Inactivity fee	No	Yes	No
Deposit fee	$0	$0	$0
Withdrawal fee	$0	$0	$0

How Interactive Brokers fees compare with competitors?

Interactive Brokers has low trading fees and the best margin rates in the industry. For US clients, stock and ETF trading is free if they choose the Lite plan.

Start trading at Interactive Brokers

Interactive Brokers review

Account opening

IB’s account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated and account verification takes relatively long.

Pros	Cons
• Fully digital	• Not user-friendly
• No minimum deposit for most account types

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Account Availability, Minimum Deposit, and Account Types

Interactive Brokers operates worldwide, with a presence across virtually every continent, meaning most investors are eligible to open an account. Access is generally restricted only in countries facing severe political or economic instability, such as North Korea.

Minimum deposit requirements
Interactive Brokers does not require a minimum deposit to open a standard account. However, if you plan to trade on margin or engage in short selling, a minimum balance of $2,000 is required. Margin trading involves using borrowed funds, commonly referred to as leverage.

Account types
Interactive Brokers provides a wide range of account options that vary based on ownership structure and the level of services offered.

Ownership-based account categories
Accounts are broadly divided into two main groups:

Accounts designed for individual traders and investors
Accounts intended for institutional clients

Individual investors can choose from several account types, although certain options—such as IRA accounts—are available exclusively to US-based clients.

**Interactive Brokers account types**
Account types	Short description
Individuals	Account is owned and used by a single individual
Joint	Account is owned and used by two individuals
Trust	Account is held by a Trustee (separate legal entity) for your benefit
IRA	Individual retirement account, which is only available to US clients
UGMA/UTMA	Account for clients who are minors, which is only available to US clients
Friends and Family	Account for a client group of up to 15 members
Family Office	Account for an individual who is a Family Office Manager
Small Business	Account for small corporations
Advisor	Account for an individual who manages both client administration and the client’s money
Money Manager	Account for an individual who is hired on behalf of another advisor

Cash, Margin, and Service Plan Options

After choosing the ownership structure of your account, Interactive Brokers allows you to select between Cash, Portfolio Margin, or Reg T Margin accounts. Clients based in the European Union are automatically assigned a Portfolio Margin account when they opt for margin trading.

For beginners who are not yet comfortable with the mechanics and risks of margin trading, a cash account is often the most suitable choice. With a cash account, there are no margin calls, and positions are not exposed to margin violations. In contrast, margin accounts allow only a short window to resolve margin issues before positions may be liquidated, although traders can mark specific positions as “liquidate last” within the account settings.

IBKR Lite and IBKR Pro
In addition to account types, US-based clients can choose between the IBKR Lite and IBKR Pro service plans, which mainly differ in their pricing structures. Investors outside the United States have access only to the IBKR Pro plan.

**Comparison of IBKR LITE and IBKR PRO**
Features	IBKR LITE	IBKR PRO
Commission	US exchange-listed stocks and ETFs are commission-free while other products have fixed or tiered pricing	Fixed or tiered pricing for all products
SMART Routing	not available	available

How to open your account

The account opening process is fully digital but a bit complicated. After the online registration, the account verification takes around 2 business days, which is a bit longer than the usual account verification time at most brokers.

During the account opening process, you have to provide some personal information and answer questions about your trading experience.

Interactive Brokers review – Account opening

In the end, you have to verify your identity and residency by uploading the required documents:

Verification of identity: passport / national ID / driver’s license
Verification of residency: bank statement / utility bill / driver’s license / credit card statement / other document

This is a standard process, which in financial lingo is called a KYC (know-your-customer) process. This is required to make sure you are truly identifiable.

Interactive Brokers review – Account opening – Infographic

Our best alternatives to Interactive Brokers are:

The highest ranking competitors are:

Saxo Bank full review
DEGIRO full review
TD Ameritrade full review
Charles Schwab full review

Interactive Brokers review

Deposit and withdrawal

Interactive Brokers offers several account base currencies and one free withdrawal per month. The main drawback is that you can only use bank transfer.

Pros	Cons
• No deposit fee	• Credit/Debit card not available
• Several account base currencies
• First withdrawal free each month

Account base currencies

Interactive Brokers provides several account base currencies, which is great if you want to trade assets in various currencies.

**Interactive Brokers account base currencies**
Australian Dollar	British Pound	Canadian Dollar	Chinese Yuan
Czech Koruna	Danish Krone	Euro	Hong Kong Dollar
Hungarian Forint	Indian Rupee (only in India)	Israeli Shekel	Japanese Yen
Mexican Peso	New Zealand Dollar	Norwegian Krone	Polish Zloty
Russian Rouble	Singapore Dollar	South African Rand	South Korean won (KRW)
Swedish Krona	Swiss Franc	US Dollar

The selection of available currencies may differ based on the legal entity you’re onboarded with. Just to mention three exceptions:

Clients under the Hungarian entity (IBCE) can deposit in EUR, USD, GBP, CHF, DKK, NOK, SEK, HUF, CZK and PLN. If you have a Cash account (as opposed to a margin account), when you transact in currencies other than the aforementioned currencies, IBCE will convert the currency value of the transaction into your nominated base currency.
Clients under the Irish entity (IBIE) can deposit in GBP, EUR, USD, CZK, DKK, NOK, PLN, SEK and CHF
Clients under the Indian entity can deposit in USD and INR.

When compared to its competitors, you can see that IB’s base currency selection is largely similar to that of Saxo Bank.

**Base currencies at Interactive Brokers vs similar brokers**
	Interactive Brokers	Saxo Bank	DEGIRO
Number of base currencies	23	26	9

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. They offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Deposit Methods and Fees

Interactive Brokers does not charge any fees for deposits. That said, the range of available funding methods is relatively limited, as payments via credit or debit cards and electronic wallets are not supported.

Clients based in the United States have access to several additional funding options, including:

ACH (Automated Clearing House) transfers
Check deposits
Online bill payment services
Direct rollovers (available for IRA accounts only)
Trustee-to-trustee transfers (also limited to IRA accounts)

Starting in early 2020, Interactive Brokers also added direct debit card funding for its Integrated Investment Management account, although this option is available exclusively to US residents.

In Australia, clients can fund their accounts using BPAY, providing an extra local payment option.

**Interactive Brokers deposit options**
	Interactive Brokers	Saxo Bank	DEGIRO
Bank transfer	Yes	Yes	Yes
Credit/debit card	No	Yes	No
Electronic wallets	No	No	No

A bank transfer can take 2-3 business days to arrive. You can only deposit money from sources that are in your name.

Interactive Brokers review – Deposit and withdrawal – Deposit

Interactive Brokers withdrawal fees and options

The first withdrawal each month is free of charge, while subsequent withdrawals have a fee.

Similar to deposits, you can only use bank wire for outgoing transfers. US residents can also withdraw via ACH or check.

**Interactive Brokers withdrawal fees and options**
	Interactive Brokers	Saxo Bank	DEGIRO
Bank transfer	Yes	Yes	Yes
Credit/debit card	No	Yes	No
Electronic wallets	No	No	No
Withdrawal fee	$0	$0	$0

The fee for subsequent withdrawals after the first free one depends on the currency and the method used for withdrawal.

**Interactive Brokers withdrawal fee**
Withdrawal currency	Wire	BACS/GIRO/ACH/EFT/SEPA
USD*	10	1
EUR	8	1
GBP	7	1
CAD	12	2
CNH	60	7
HKD	95	8
NZD, SGD	15	1
AUD	15	N/A
CHF	11	N/A
CZK	300	N/A
DKK	30	N/A
HUF	6,000	N/A
ILS	30	N/A
JPY	1,600	N/A
NOK, SEK	50	N/A
MXN	100	N/A
PLN	40	N/A
RUB	330	N/A
ZAR	200	N/A

Withdrawals, Processing Time, and Integrated Account Services

Interactive Brokers also supports check payments in USD, which are subject to a $4 processing fee.

Withdrawal timing
Based on our testing, withdrawals typically take around two business days to be completed. Since early 2020, clients can monitor the progress of their withdrawal requests in real time through the Client Portal, adding extra transparency while funds are being processed.

How to withdraw funds from Interactive Brokers
To make a withdrawal, follow these steps:

Log in to the Client Portal and select “Transfer & Pay,” then “Transfer funds.”
Choose the account you want to withdraw from.
Click the “Withdraw Funds” tab at the top of the page.
Select the withdrawal currency and preferred withdrawal method.
Enter the required details and submit your request.
You can track the status of the transaction under “View Transaction History.”

Integrated Investment Management services
Interactive Brokers has broadened its offering for US-based clients through the Integrated Investment Management program and the introduction of an Interactive Brokers debit card. These features allow eligible clients to:

Make deposits using a debit card
Access borrowing facilities
Pay bills electronically through the Bill Pay service, without using checks

All US cash and margin accounts are eligible to apply. To get started, log in to the Client Portal, navigate to “Transfer & Pay,” and open the “Debit Card” section to submit an application.

Interactive Brokers review

Web trading platform

The Interactive Brokers web platform is simple and easy to use, even for beginners, however there are some minor but annoying glitches.

Pros	Cons
• User-friendly	• User experience could be better
• Clear fee report
• Two-step (safer) login

**Interactive Brokers platforms to choose from**
Trading platform	Score	Available
Web	3.8 stars	Yes
Mobile	3.5 stars	Yes
Desktop	3.8 stars	Yes

Web Platforms and User Experience

Interactive Brokers offers two browser-based platforms: Client Portal and WebTrader. For this assessment, the Client Portal was used, as it provides a smoother and more accessible experience compared with WebTrader. Users on the IBKR Lite plan have access exclusively to the Client Portal.

The Client Portal supports multiple languages, including Dutch, English, French, German, Italian, Japanese, Russian, Simplified Chinese, Slovak, Spanish, and Traditional Chinese.

Design and usability

Overall, the Client Portal stands out for its clean layout and intuitive navigation. Key tools and functions are easy to locate, even for those who are new to trading.

That said, occasional technical issues can arise. For instance, users with a large number of open positions may encounter display problems when sorting holdings—such as alphabetical ordering—particularly while scrolling through long lists.

Interactive Brokers review – Web trading platform

Login and security

For the 2 factor authorization, use the IBKR Mobile Authentication (IB Key), which requires fingerprint or PIN, depending on the hardware capabilities of your phone. Until the IB key is set up, you will receive an SMS message each time you log in.

Search functions

The search function is OK but as the picture below shows, it can be a little confusing when there are several companies with a similar name or if a given company has both common and preferred shares.

Interactive Brokers review – Web trading platform – Search

Order Placement Options

The Client Portal on Interactive Brokers supports a wide range of order types, giving traders flexibility when executing trades. The available order options include:

Limit
Market
Stop
Stop Limit
Limit-on-Close
Market-on-Close
Trailing Stop
Trailing Stop Limit

For those who are not yet comfortable with standard order types, it’s recommended to review a basic explanation before trading.

If you require more advanced or complex order configurations, the desktop trading platform provides broader functionality.

In addition, traders can apply different order duration settings, such as:

Day
Good-’til-Canceled (GTC)
Immediate or Cancel
Market-on-Open
Limit-on-Open

Interactive Brokers review – Web trading platform – Order panel

Alerts and notifications

You can set price alerts using the bell icon.

Portfolio and fee reports

Portfolio and fee reports are transparent. The portfolio tab gives a clear overview of your trading performance, including a historical profit/loss balance and fees paid.

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Interactive Brokers review

Mobile trading platform

The Interactive Brokers mobile trading platform boasts a lot of functions and a useful chatbot, but its user interface could be better.

Pros	Cons
• Two-step (safer) login	• Minor technical glitches
• Good variety of order types
• Price alerts

IBKR Mobile, Interactive Brokers’s mobile trading platform, is available both for iOS and Android devices. In this review, we tested it on Android.

The number of available languages on IBKR Mobile is almost the same as on the web trading platform; only Slovakian is not supported.

This review is about the IBKR Mobile platform. To learn about IB’s new mobile app called IBKR GlobalTrader, launched in early 2022, read our separate review.

Interactive Brokers also has an app you can use for ESG investing, called IMPACT: read our review of the app here.

Look and feel

The mobile trading app is much like the web platform. Its overall look and user-friendliness lag behind competitors’ mobile platforms.

There are some annoying glitches. For example, when we received a bulletin in our inbox informing us of margin requirement changes, we could see half of the text and could not resize the window or scroll.

Somewhat surprisingly, the app sometimes displays text in English and sometimes in the client’s local language.

Interactive Brokers review – Mobile trading platform

Login and security

You can use a two-step login, which is safer than a simple login. Furthermore, if your device supports such features, you can also use biometric authentication for more convenience.

Search functions

The search function is OK and is much like what the web trading platform offers. As the picture below shows, it can be a little confusing when there are several companies with a similar name or if a company has both common and preferred shares.

We actually liked the previous version of the search function better.

Interactive Brokers review – Mobile trading platform – Search

After you select the product you are interested in, the system will display an information and trading window that shows

asset market information,
an interactive chart with technical indicators,
related news,
some fundamental data,
summary of the latest analyst report,
and the ‘Buy’ and ‘Sell’ buttons that transfer you to the order panel.

Placing orders

IBKR Mobile has the same order types as the web trading platform.

Interactive Brokers review – Mobile trading platform – Order panel

Alerts

You can set price alerts using the bell icon.

Special feature – Chatbot

The most innovative and exciting function within the app is the chatbot, called IBot. You can use the chatbot to execute or close an order, as well as to get basic info quickly.

The chatbot understands basic commands, such as “apple price” or “buy 1 apple share.” On top of this, you can also search for company fundamentals, like dividend yields and PE ratios. Some other functions, like displaying a chart, are also available via the chatbot.

Interactive Brokers review – Mobile trading platform – Chatbot charting

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Interactive Brokers review

Desktop trading platform

IB’s desktop platform, TWS comes with great customizability and advanced order execution, but it’s not user-friendly and caters more to advanced traders.

Pros	Cons
• Clear fee report	• Not user-friendly
• Good customizability (for charts, workspace)	• Complexity might be overwhelming
• Good variety of order types

Interactive Brokers review – Desktop trading platform

Login and security

The system has the same security features as the web trading platform. You can log in using a two-step authentication, which makes the platform unquestionably safer to use.

Search functions

The search function is great. You can check/uncheck boxes to include/exclude searching for derivatives (like CFDs).

Interactive Brokers review – Desktop trading platform – Search

Placing orders

Trading through TWS, IKBR PRO offers many different order types.

**Order types at Interactive Brokers**
Limit	Mid Price	Market	Market-to-Limit
Stop	Stop-Limit	Trail	Trail-Limit
Relative	Retail Price Improvement	Snap Market	Snap To Midpoint
Snap to Primary	Market-on-Close	Limit-on-Close	IBALGO
Hedge (with Forex, or Pair Stock)

The desktop platform provides Smart Routing, a great feature that detects the best possible route (e.g. exchange) for your trades automatically. TD Ameritrade also has a similar service.

If you are not familiar with the basic order types, read this overview.

Order term options also include some special types beyond the usual ones:

Good ’til Canceled (GTC)
Good-’til-Date (GTD)
Market-on-open (MOO)
Limit-on-open (LOO)
Immediate-or-cancel (IOC)
Fill-or-Kill (FOK)
Day-’til-canceled (DTC)

Interactive Brokers review – Desktop trading platform – Order panel

Alerts and notifications

Price alerts can be set from a dropdown menu in the ‘Order Entry’ panel.

You can also set additional alerts such as daily profits or losses on the Client Portal.

Portfolio and fee reports

You can access reports under the “Account” menu item. It will open a new tab in your browser and will take you to the Client Portal’s reports, which are of high quality.

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Interactive Brokers review

Markets and products

At Interactive Brokers, you have access to an extremely wide range of markets and all product types are available.

**Interactive Brokers asset classes**
	Interactive Brokers	Saxo Bank	DEGIRO
Stocks	Yes	Yes	Yes
ETFs	Yes	Yes	Yes
Forex	Yes	Yes	No
Funds	Yes	Yes	Yes
Bonds	Yes	Yes	Yes
Options	Yes	Yes	Yes
Futures	Yes	Yes	Yes
CFDs	Yes	Yes	No
Crypto	Yes	Yes	No

Interactive Brokers has a great selection of products, with an exceptionally wide range of ETFs and bonds. 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.

IB provides access to roughly 150 exchanges worldwide, including its alternative services, such as Interactive Advisors. This is an asset management service that is a mix of robo-advisory and social trading.

Stocks and ETFs

Interactive Brokers allows you access to more stock markets than its competitors.

This includes major stock markets like the NASDAQ, the New York Stock Exchange (NYSE) and the London Stock Exchange (LSE), as well as minor ones such as the Warsaw Stock Exchange or Mexican markets. In addition to regular stocks, penny stocks are also available.

Besides stocks, you can also trade more than 13,000 ETFs at IB. This is an extensive selection compared to its competitors.

**Interactive Brokers stock and ETF selection**
	Interactive Brokers	Saxo Bank	DEGIRO
Stock markets (#)	83	50	31
ETFs (#)	13,000	6,400	5,400

Interactive Brokers provide the possibility of buying and selling fractional shares of a stock, which allows traders to invest small amounts and still diversify their portfolios. Fractional shares are available for US and European stocks.

Forex

The number of forex pairs available is average and a bit below what Saxo Bank offers.

**Interactive Brokers forex selection**
	Interactive Brokers	Saxo Bank	DEGIRO
Currency pairs (#)	105	190	–

Funds

Through IB, you have access to more than 250 fund providers, including big names like BlackRock and Vanguard.

**Interactive Brokers mutual fund selection**
	Interactive Brokers	Saxo Bank	DEGIRO
Fund providers (#)	400	17	64

Bonds

Interactive Brokers gives you access to a massive number of bonds. Out of all government and corporate bonds available at IB, 1.4 million are so-called municipal bonds: these are fixed income investments issued by US local governments, cities, states and counties, but they are tradable only by US residents. The table below does not include municipal bonds in the overall number of bonds, but even so, the figure is higher than at competitor brokers.

**Interactive Brokers bond selection**
	Interactive Brokers	Saxo Bank	DEGIRO
Bonds (#)	1,065,000	4,500	649

Options

As with other product types, Interactive Brokers offers an extremely wide range of options markets.

You can access the biggest ones, like the Chicago Board Options Exchange (CBOE) or the CME Group, as well as smaller markets, such as the Korea Stock Exchange (KSE) and the Mexican Derivatives Exchange (MEXDER).

**Interactive Brokers options selection**
	Interactive Brokers	Saxo Bank	DEGIRO
Options markets (#)	34	20	12

Futures

Interactive Brokers offers an extensive selection of futures products and markets. At the time of writing, there were 32 markets available, which is more than what competitors offer. Similarly to options, you will find both major and minor markets.

**Interactive Brokers futures selection**
	Interactive Brokers	Saxo Bank	DEGIRO
Futures markets (#)	32	28	14

CFDs

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60.0% 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.

Clients from the US are not eligible to trade CFDs. Compared to other products and competitors, IB offers an average range of CFDs, mainly stock and stock index CFDs.

**Interactive Brokers CFD selection**
	Interactive Brokers	Saxo Bank	DEGIRO
Stock index CFDs (#)	13	20	–
Stock CFDs (#)	7,100	7,800	–
ETF CFDs (#)	–	1,100	–
Commodity CFDs (#)	–	20	–
Bond CFDs (#)	–	8	–

Cryptos

At IB, you can trade cryptos the following ways:

Bitcoin and Ethereum ETNs are traded on the Stockholm Stock Exchange and the US OTC (Pink) markets
Bitcoin Index is available on the New York Stock Exchange (NYSE), on the CME Group and the Chicago Board Options Exchange (CBOE)
Bitcoin futures are available on the CME Group
Through a partnership with Paxos, you can trade and custody cryptocurrencies including Bitcoin, Ethereum, Litecoin and Bitcoin Cash

If you want to know more about crypto investing, we recommend our crypto blogpost.

**Interactive Brokers crypto selection**
	Interactive Brokers	Saxo Bank	DEGIRO
Cryptos (#)	4	3	2

Please note that the FCA banned the sale of crypto-derivatives by UK retail consumers from 6 January 2021.

Asset management service

Interactive Advisors is IB’s own asset management service, which allows you to copy professional portfolio managers and lets you automatically make trades as professionals do.

You can choose from among many portfolio managers to find the one that fits you best, with real-time portfolio performance available.

The minimum investment depends on the portfolio you want to invest in: the lowest investment amount starts at $5,000.

Interactive Brokers review

Research

Interactive Brokers has almost limitless research possibilities, but the user interface is not the most user-friendly.

Pros	Cons
• Good interactive chart	• Not user-friendly
• Trading ideas
• Data on asset fundamentals

Research Quality, Insights, and Fundamental Data

Interactive Brokers offers solid research capabilities, with access to a wide range of tools and the option to integrate insights from multiple third-party research providers.

Recommendations and alerts
Investors can choose to receive email notifications when new analyst buy or sell ratings are issued for stocks they own. Alerts can also cover events such as upcoming dividend payments, options expirations, and other relevant market updates. This notification system is particularly useful for equity investors who want to stay informed without constant monitoring.

In addition, users can opt in to receive free daily ETF trading ideas provided by Trading Central. Both the analyst alerts and ETF ideas are available at no cost.

For those seeking deeper analysis, Interactive Brokers also allows subscriptions to premium research from external providers such as Morningstar through the Client Portal. These can be activated via Menu → Settings → User Settings → Research Subscriptions, although most third-party research services require a paid subscription.

Fundamental data
Across its platforms, Interactive Brokers delivers a comprehensive set of fundamental information. This includes detailed financial statements—such as income statements covering the past six years—dividend schedules, and peer company comparisons, among other data points.

The platform also incorporates environmental, social, and governance (ESG) ratings sourced from Refinitiv, helping investors factor sustainability metrics into their analysis.

Interactive Brokers review – Research – ESG

For screening stocks, we recommend using IBKR GlobalAnalyst. It will create searchable and sortable tables so that you can compare companies grouped by region or country or industry at current prices in the currency of your choice.

In the picture below, we searched for US-listed consumer discretionary companies and sorted them so we see those with the highest earnings growth first.

Interactive Brokers review – Research – screener tool

Charting

The charting features are almost endless at Interactive Brokers. There are 127 technical indicators; however, similar to the platforms, the charting tool is not user-friendly.

Interactive Brokers review – Research – Charting

Advanced Technical Tools and News Resources

Interactive Brokers provides a variety of specialized technical tools designed to support deeper market and portfolio analysis. These include a Stock and ETF benchmarker, which allows investors to measure individual holdings or entire portfolios against chosen benchmarks, as well as a mutual fund and ETF replicator. Other advanced features include the Volatility Lab, the Options Probability Lab for options-related scenario analysis, and portfolio performance metrics such as Value at Risk (VaR) and Sharpe ratio calculations.

News and market updates
Users also gain access to a comprehensive news environment that includes real-time news articles, daily market briefings, and several economic calendars.

Interactive Brokers operates its own news hub called Traders’ Insight, while also integrating external news sources and analyst commentary directly into its desktop platform. Upon logging in, traders can review daily market overviews through the Daily Lineup, which summarizes key developments and analyst views. In addition, dedicated Earnings and Economic Event calendars provide quick access to upcoming corporate results and macroeconomic releases, helping investors stay prepared throughout the trading day.

Interactive Brokers review – Research – News

The Economic Calendar informs you about upcoming events that will have an economic impact. This feature can be accessed separately any time from the menu, though the design could be better. If you are looking for an all-around economic calendar that includes upcoming national holidays, you can find it here on IB’s page.

Interactive Brokers review – Research – Economic calendar

Mutual Fund Search Tool

As of June 2020, Interactive Brokers has launched the Mutual Fund Search Tool on their website. This tool enables clients to browse and select international mutual funds by country, fund family and whether the fund charges extra commissions. With the ‘Fund Type’ filter, you can also search for funds based on their structure (e.g. only bond, only equity, or mixed investments).

Interactive Brokers review – Research – Mutual Fund Search

Investor Networking and Advanced Utility Features

Interactive Brokers launched the Investors’ Marketplace in mid-2020 as a comprehensive networking environment that brings together investors, brokers, hedge fund participants, and other market professionals. The platform is designed to support a wide range of interactions, from learning and career growth to advisory services, operational support, and technology-focused collaboration.

Tax efficiency, short-selling tools, and alternative resources

Clients based in the United States can benefit from the Tax Optimizer, a tool that helps determine the most appropriate tax treatment after trades are completed, in accordance with Internal Revenue Service guidelines. This feature allows investors to align outcomes with their tax strategy, such as emphasizing long-term gains or limiting long-term losses.

Another practical feature is the Shortable Instruments (SLB) search tool, which shows which securities are available for short selling directly within the web platform, along with current borrowing availability. Covering most major markets and regions, the SLB tool—short for Securities Lending/Borrowing—makes it easier for traders to identify short-selling opportunities across global exchanges.

Interactive Brokers review

Customer service

Interactive Brokers’s customer service could be better. You can contact them via phone, email, live chat and an automated ‘iBot’, and receive mostly relevant answers. However, waiting times can be long, especially on the phone.

Pros	Cons
• Phone support	• Slow support
• Live chat
• Relevant answers

You can contact Interactive Brokers via:

Live chat
Phone
Instead of email, you have to use the ‘Message Center’ that is accessible from the Client portal

Customer service is available in several regions and languages, namely English, Russian, Chinese, Indian and Japanese.

**Regional Service Desks and hours of operation**
Location	Number	Hours of operation (Time Zone)
United States	1 (877) 442-2757 Toll free 1 (312) 542-6901 Direct dial	14:00 (Mon – Fri) – 02:00 (Tue – Sat) (Europe/Berlin) 19:00 (Sun) – 01:00 (Mon) (Europe/Berlin)
Canada	1 (877) 745-4222 Toll free 1 (514) 847-3499 Direct dial	14:00 – 23:30 (Mon – Fri) (Europe/Berlin)
Europe	00800-42-276537 Toll free +41-41-726-9500 Direct dial +44 207-710-5695 Direct dial (United Kingdom)	09:00 – 18:00 (Mon – Fri) (Europe/Berlin)
Russia	8-800-100-8556 Toll free +41-41-726-9506 (Russian)	08:00 – 17:00 (Mon – Fri) (Europe/Berlin)
Hong Kong	+852-2156-7907 Direct dial	02:00 – 11:00 (Mon – Fri) (Europe/Berlin)
Australia	+61 (2) 8093 7300 Direct dial	00:30 – 10:00 (Mon – Fri) (Europe/Berlin)
India	+91 22 61289888 Direct dial +91 22 39696188 Direct dial	02:30 – 14:00 (Mon – Fri) (Europe/Berlin)
China	+86 (21) 6086 8586 Direct dial	03:00 – 12:00 (Mon – Fri) (Europe/Berlin)
Japan	+81 (3) 4588 9700 Direct dial +81 (3) 4588 9710 Direct dial (English)	01:30 – 10:30 (Mon – Fri) (Europe/Berlin)

Customer Support Experience

Our overall interaction with customer service has been inconsistent.

In 2019, we carried out multiple tests of live chat, email, and phone support. Email replies generally arrived within 24 hours. Live chat wait times were on the longer side—often exceeding three minutes—but once an agent joined the conversation, the assistance was efficient and the responses were relevant. Phone support performed better, with an average waiting time of around one minute.

In January 2021, service levels dropped sharply for European clients due to account migrations triggered by Brexit, which required many users to move from the UK entity to another jurisdiction. During this period, support emails often went unanswered for up to 5–10 days, and phone support was largely unavailable.

At present, customer service has stabilized and returned to its usual standard. While functional, the current level of support sits slightly below the industry average.

Interactive Brokers review – Customer Service

The platform to me is not user-friendly at all and very confusing. I have played around with many other platforms and all have been easier to use and customize. But my biggest issue was the customer service. Very long wait times. Agents have no enthusiasm, they don’t have much knowledge about their own processes and policies.

Rend777

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Interactive Brokers review

Education

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

Pros	Cons
• Demo account	• None
• Trading platform tutorial
• Educational videos

At Interactive Brokers, you can learn in the following ways:

Paper (demo) account
Online courses
Webinars
Educational videos
Platform tutorial videos
Glossary
News

Interactive Brokers review – Education

Once you set up a trading account, you can also open a Paper Trading Account. This is a demo account: all paper accounts start with $1,000,000 in virtual money, which you can use to experiment with IB’s platforms and trading services.

In addition to the above services, you can choose from multiple courses based on your trading skills. There is also a glossary that helps you understand technical terms, unfamiliar expressions and acronyms.

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Interactive Brokers review

Safety

Interactive Brokers is regulated by several financial authorities, including top-tier ones like the SEC in the US and the UK’s FCA. Its parent company is listed on the NASDAQ exchange.

Pros	Cons
• Listed on stock exchange	• None
• Negative balance protection
• Regulated by top-tier financial authorities

Regulation and Safety at Interactive Brokers

Is Interactive Brokers regulated?
Yes. Interactive Brokers is supervised by several leading financial regulators worldwide, including the U.S. Securities and Exchange Commission (SEC) and the Financial Conduct Authority (FCA) in the United Kingdom.

Is Interactive Brokers safe?
When evaluating a broker’s safety, two key aspects should be considered: the level of protection available if problems arise, and the broker’s overall corporate structure and background.

How client protection works
Interactive Brokers Group operates internationally through multiple regulated entities. This structure is important because investor safeguards—such as protection limits and regulatory oversight—can vary depending on the specific entity under which an account is held.

Interactive Brokers offers negative balance protection for retail clients in the European Union when trading spot forex and CFDs, ensuring losses cannot exceed the deposited amount. However, this protection does not apply to professional clients or to customers based outside the EU, who are not covered by negative balance safeguards.

**Interactive Brokers legal entities**
Country of clients	Protection amount	Regulator	Legal entity
UK	£85,000 *	Financial Conduct Authority (FCA)	Interactive Brokers (U.K.) Limited
USA	$500,000 ($250,000 cash limit) **	Financial Industry Regulatory Authority (FINRA), US Securities and Exchange Commission (SEC)	Interactive Brokers LLC
EU countries in Northern and Western Europe	€20,000	Central Bank of Ireland (CBI)	Interactive Brokers Ireland Limited
EU countries in Central/Eastern Europe & Cyprus & Malta & Greece	€100,000 ***	Central Bank of Hungary (MNB)	Interactive Brokers Central Europe Zrt.
Canada	CAD 1,000,000	Investment Industry Regulatory Organization of Canada (IIROC)	Interactive Brokers Canada Inc.
Australia	No protection	Australian Securities and Investments Commission (ASIC)	Interactive Brokers Australia PTY LTD
India	No protection	Securities and Exchange Board of India (BSE)	Interactive Brokers (India) PVT. LTD.
Japan	No protection	Financial Services Agency (FSA)	Interactive Brokers Securities Japan Inc.
Hong Kong	No protection	Hong Kong Securities and Futures Commission	Interactive Brokers Hong Kong Limited
Singapore	No protection	Monetary Authority of Singapore	Interactive Brokers Singapore Pte. Ltd.

Investor Protection and Company Background

Protection for UK-based clients
For investors located in the UK, the applicable regulator and level of protection depend on the types of instruments being traded.

When trading forex, CFDs, non-US stock index options, and futures, client funds fall under the supervision of the Financial Conduct Authority, with protection available up to £85,000.
When trading shares, bonds, funds, and US stock index options, protection is provided under the US framework, with coverage of up to $500,000, including a $250,000 cash limit, through the Securities Investor Protection Corporation (SIPC).

In general, SIPC protection applies to assets such as stocks, bonds, mutual funds, and other registered securities. It does not extend to products like unregistered investment contracts, certain partnerships, fixed annuities, currencies, or commodity-related instruments such as futures and options on precious metals.

Clients holding accounts with IBCE are protected under Hungary’s capital market legislation, specifically Act CXX of 2001, with coverage up to €100,000. Compensation is structured as follows:

Full coverage up to the forint equivalent of HUF 1 million (around €2,800 as of December 12, 2020).
Above this threshold, compensation includes the first HUF 1 million plus 90% of the remaining amount, capped at €100,000.

Company background and stability
Interactive Brokers is headquartered in the United States and was founded in 1977. Over more than four decades, the firm has maintained a strong position in the global brokerage industry, successfully operating through multiple economic downturns—an important indicator of long-term resilience.

The holding company, Interactive Brokers Group, is publicly listed on the NASDAQ Stock Exchange. As a listed company, it is required to publish regular financial reports, which enhances transparency. Combined with oversight from both the U.S. Securities and Exchange Commission (SEC) and the UK’s Financial Conduct Authority, this regulatory framework supports a high level of operational credibility.

That said, there have been some negative developments in the past. In August 2020, Interactive Brokers was fined $38 million by US regulators for deficiencies in monitoring large volumes of wire transfers that may have been linked to money-laundering risks. The firm was also cited for shortcomings in reporting potential manipulation involving certain micro-cap securities.

Is Interactive Brokers safe?

Yes, Interactive Brokers is considered safe because of the following:

Listed on stock exchange
Offers negative balance protection
Regulated by top-tier financial authorities

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Interactive Brokers review

Bottom line

Interactive Brokers Review Summary

Interactive Brokers is among the largest US-based brokers known for tight spreads and oversight from multiple top-tier regulators worldwide. It is well suited both to experienced traders and to long-term investors who want broad access to global equity markets.

On the positive side, the broker stands out for its very low trading costs, extensive selection of markets and financial instruments, and a wide array of research and analytical resources.

However, there are some notable limitations. Customer support quality can be inconsistent, and the account opening procedure is more involved than at many competing brokers. In addition, while the web and mobile platforms are relatively approachable, the desktop platform is highly complex and may feel overwhelming, particularly for newcomers.

Overall, if you are comfortable working with sophisticated trading platforms and value cost-efficient, transparent access to global markets, Interactive Brokers can be an excellent choice.

A really excellent broker truly the most comprehensive that serves all US & most free markets advanced securities to UK & EU clients.

Simeon

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Interactive Brokers review

FAQ

Does Interactive Brokers charge a monthly fee?

Interactive Brokers does not charge any recurring fees such as account maintenance fees or inactivity fees.

What is the minimum amount to deposit in Interactive Brokers?

To open an Interactive Brokers account, the required minimum deposit is $0. Meaning, there is no minimum deposit. To start trading you need to deposit at least $100.

Is Interactive Brokers free?

Yes, Interactive Brokers is free, if you are from the US and use IBKR Lite. IBKR Lite charges $0, and provides US stocks and ETFs only. However, order execution quality is bad because of PFOF (payment for order flow).

What fees does Interactive Brokers charge?

US clients can trade US-listed stocks and ETFs for $0 per share with the IBKR LITE plan. If you choose IBKR Pro, you pay $0.005 per share with $1 minimum and 1% maximum for US-listed stocks and ETFs. Annual margin rates are also really favorable at Interactive Brokers: benchmark rate + 1.5% for IBKR Pro (3.08% as of the writing), and benchmark rate + 2.5% for IBKR Lite (4.08% as of the writing).

How long does it take to withdraw money from Interactive Brokers?

It takes 2 to 4 days to withdraw money from IBKR depending on your bank and location. You can make one withdrawal per calendar month for free.

Can I open a cash account with Interactive Brokers?

Yes, you can open a cash account at Interactive Brokers. When you use cash account, you’re not allowed to borrow from the broker, ie. you can’t use margin. Cash account limits the potential losses, you can’t lose more than the originally invested amount.

How long does it take to get an IBKR account?

To get a live IBKR account takes usually 2-3 days.

How is Interactive Brokers so cheap?

Apart from their most basic features, Interactive Brokers charges other, extra aspects of the service, from which they generate revenue. For example extra features include live market data & news subscriptions.

How do I buy stock in Interactive brokers?

On the Client Portal hover to the ‘Trade’ menu and choose the product you like to trade with
Click on “Enter symbol” and find the product of your choice. Some tickers may have alternative versions on different exchanges
Choose how many shares / how big of an investment you’d like to make
Choose your order type, limit price and time-in-force (if needed)
Submit your order
You’ll see the status of your order in ‘Trade’ – ‘Orders & Trades’ once it’s filled

How long does it take for IBKR to approve?

It usually takes about two or three working days for Interactive Brokers to approve your account once you have completed the online application form and submitted all required documents.

Who can open an interactive broker account?

Interactive Brokers is present in almost all countries of the world, so unless you live in a politically or economically unstable or isolated country such as North Korea or Syria, you will be able to open an account. In most countries, you need to be 18 or older to open a Cash account, and 21 or older to be able to trade on margin.

How do I know if my IBKR account is approved?

You will be notified by email once your IBKR account is approved. This usually happens about two working days after you have completed your application. You can also log in through the “Complete Application” link you received earlier to view your application status.

How much do I need to open an Interactive Brokers account?

To open an Interactive Brokers account, the required minimum deposit for a basic Cash account is $0, meaning there is no minimum deposit. To actually start trading, you need to deposit at least $100. If you want to trade on margin (ie. use leverage), you must deposit at least $2,000.

How long does it take to open an account at IBKR?

It usually takes about 2-3 working days to get a live IBKR account. Completing the application form takes about 30+ minutes

How do I transfer money to Interactive broker?

The only way to deposit money to Interactive Brokers is via bank transfer. To initiate a deposit, log in to the Client Portal, navigate to the ‘Transfer & Pay’ menu and select ‘Transfer Funds’. Select the exact method and currency of your deposit, then follow the on-screen instructions.

How long does deposit take IBKR?

It takes around 2-3 business days using bank transfer.

Can I use debit card with Interactive Brokers?

Deposit by debit cards is only available to US customers.

Can I use PayPal to fund Interactive Brokers?

No, you can’t use PayPal to fund your Interactive Brokers account.

Can I transfer USD to IBKR?

Yes, you can transfer USD to your IBKR account.

Does Interactive Brokers have instant deposit?

No, Interactive Brokers does not have instant deposit.

What is ATS on IBKR? Is this a way to automate my investments?

Automation can mean multiple things, such as IBKR’s ‘ATS’ or Automated Trading System. ‘ATS’ is an algo trading service which is a complex order method primarily used to trade against incoming SmartRouted orders. If you’d like to use this feature, choose ‘IBKRATS’ in the ‘Destination’ field on the order panel using TWS.

If you’d like to dwell in algo trading, Interactive Brokers has a Python native API to let you automatize your trades through Python codes.

Which language can you use for API trading on Interactive Brokers?

Interactive Brokers offers the following API programming languages: DDE, Java, C++ and ActiveX. These can be used to connect directly to the trading system.

What are fractional shares?

Fractional shares are a portion of a real share. It means that you own only a part of a share. Let’s say you need $1000 to buy a company’s stock but you only want to invest $400. You can then buy a fractional share and own 0.4 of the stock.

What is IBKR GlobalTrader?

IBKR GlobalTrader is a simple, easy-to-use mobile application dedicated to stock trading worldwide. Through this app, users all over the world have access to Stocks, Fractional Shares, ETFs, and Funds. Cryptos are available as well, but only in certain regions. For US clients, the service is commission free. Non-US clients are charged $0.0035 per share, which is considered low.

If you’d like to read more we have published a full review on IBKR GobalTrader, detailing more platform features like fractionals, stock swap, and the account opening process.

What is IBKR GlobalAnalyst?

IBKR GlobalAnalyst is a free analytical tool on the Interactive Brokers website. It helps to compare the relative value of global stocks by region, industry, market capitalization, and currency. The purpose of this tool is to help you find undervalued stocks around the world.

How to do taxes after I close my position?

Please bear in mind that the information provided here is only a general guideline and there are many exceptions.

If you sell a security with a profit (i.e. at a higher price than the purchase price), it will qualify as capital gains and will therefore trigger a tax liability. So after you close a position on IBKR, you have to declare any such capital gains in your annual tax returns. As a useful starting point, you can check the ‘Portfolio’ tab to view your realized and unrealized profit/loss positions at IBKR.

The precise rules, procedures and tax rates depend on the tax legislation of the country where you qualify as a tax resident.

A tax liability could also be triggered when you earn interest on bonds or dividends on stocks/ETFs/funds. To help you, we have written a piece to explain what happens in such situations.

Does Interactive Brokers have margin trading?

Yes, Interactive Brokers provides two types of margin accounts: a rule-based account named ‘Reg T’, and a risk-based account called ‘Portfolio Margin’. The difference between the two accounts is how margin requirements are calculated. The margin requirement is the percentage of your marginable portfolio that you must pay from your own funds.

For a ‘Reg T’ account, margin requirements are calculated by the US Federal Reserve Board by governing and controlling the amount of credit that broker-dealers may make available to customers.

For a ‘Portfolio Margin’ account, the requirements are calculated based on the Theoretical Intermarket Margin System (TIMS), which calculates the value of a portfolio given a series of hypothetical market scenarios and bases margin requirements on this information.

Lower fees, lower costs?

We detailed this in our Interactive Brokers fees article.

What about the minimum deposit?

Our ultimate guide to the Interactive Brokers minimum deposit is updated regularly.

How to start your Interactive Brokers account?

Look no further than our evaluation of the Interactive Brokers account opening.

How’s their trading app?

Here’s our expert view after checking the Interactive Brokers trading app.

Is the quality of customer service satisfactory?

All you need to know about the Interactive Brokers customer service.

Legit or scam?

Is Interactive Brokers legit features all the key aspects you need to consider to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether Interactive Brokers is really free.

Is this broker good for beginners?

We checked it in Is Interactive Brokers good for beginners.

Should you buy your silver bullets on Interactive Brokers?

Research for silver bugs in the Silver buy on Interactive Brokers guide.

I want to trade options, are they available at Interactive Brokers?

We explored the topic in Can you trade options on Interactive Brokers?

What is the minimum account balance at Interactive Brokers?

Check out account balance requirements at Interactive Brokers in our What is the minimum account balance at Interactive Brokers article.

Looking for commission and fee data for Interactive Brokers?

We collected them in Interactive Brokers commission and fees.

How do you withdraw money from Interactive Brokers?

We tested it and collected the options and costs in How to withdraw money on Interactive Brokers.

How to trade after hours on Interactive Brokers?
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How to use Interactive Brokers for Paper Trading
How to withdraw funds from Interactive Brokers
How to convert currency on Interactive Brokers?
How to change trading permissions on Interactive Brokers?
How to buy fractional shares on Interactive Brokers?
How to change the base currency on Interactive Brokers?
What is the cost of buying US stocks at Interactive Brokers?
How to transfer my portfolio to Interactive Brokers?
How do I see how much cash I actually have?
How to download Interactive Brokers’ TWS?
What is the Interactive Brokers debit card?

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Learn more about these Interactive Brokers alternatives on this page.

Trader Workstation (TWS) Desktop Platform Overview

Interactive Brokers’ desktop platform, Trader Workstation (TWS), is so feature-rich that a brief overview can only scratch the surface of its capabilities.

The platform includes an extensive set of professional tools, ranging from advanced options strategies—such as attaching delta-hedging orders—to building charts for synthetic instruments. Users also have access to a wide selection of trading algorithms. One notable example is ScaleTrader, which is designed for strategies like gradually buying into a declining market as prices fall, or conversely, selling incrementally into a rising market to scale out of positions.

TWS is available in several languages, although the selection is narrower than that of the web-based platform. For instance, some languages such as Dutch and Slovak are not supported.

Design and usability

In terms of depth and complexity, TWS stands out as one of the most sophisticated trading platforms available. Despite this, it offers a high degree of customization, allowing users to create personalized layouts, templates, and workflows.

This platform is best suited for experienced and professional traders who want maximum control and advanced functionality. Beginners or less active investors may initially find the interface overwhelming. That said, all advanced features are optional—users can keep the setup simple and use TWS purely for order placement without engaging with its more complex tools.