Interactive Brokers is a brokerage firm based in Greenwich, Connecticut. It also has offices in Europe, Asia and Australia. In addition to trading forex, you can trade stocks, bonds, options and futures.
Interactive Brokers Group has been around since 1977, and has had the same owner and CEO that entire time. Interactive Brokers is a broker dealer and has consolidated equity capital of over $5 billion. They offer trading in over 100 markets world-wide. Interactive Brokers is a direct access broker and works with professional trades and large institutions around the world, executing trades in a variety of asset classes including, stocks, options, futures, forex, bonds, CFDs and international mutual funds. They are responsible for nearly 1 million trade executions per day.
Interactive Brokers is an international firm, offering non US traders the ability to open a live account from just about everywhere in the world.
Interactive Brokers Advantages
Interactive Brokers Disadvantages
Commission structure can be fixed or tiered, based on volume and even where you are trading from. There are many nuisances to consider, but generally, for most retail traders, the fixed pricing will be the most cost effective.
Interactive Brokers is a great choice for international traders looking got take part in the US stock and options markets. It can be a great resource for new traders with decent capital. The tools and Trader Workstation can be overwhelming for newbs at first, especially since learning to use the software is a do it yourself kind of deal. The cost of actual trading is for the most part, competitive if you aren’t trading big lots. The ability to switch between Forex, futures, options and equities from one screen and have multiple types of trades going can be very appealing to diverse traders. Also, if you are like me, you can trade from your IRA or other account types not allowed at many other US based brokerages.
Mobile Trading Seminars, Education
Interactive brokers are scammers. Stay away from these shady brokers. They will deactivate your account login just to have you call their customer support number.
Instead, when you call them, they attempt to sell you add-ons these you don't even need. Horrible experience. Much rather work with a real broker instead of these scammers. Buyer be aware.
TV commercial shows children learning to trade on “free” paper accounts. But when you follow the link interactivebrokers.com/practice you have to open and fund the “Free” account for your child to trade on.
This isn’t what their commercial stated or even implied. There is no way I’m going to fund an account for my 16 year old son to learn with. Very disappointing!
Maybe they think it’s a clever way to open new accounts but I think it’s a deceptive and poorly thought out marketing idea and a blatant bait and switch.
I'm from the Ukrain. I cannot trade with IB directly, because according to our laws it is forbidden to transfer currency abroad. That's why I have to work with a subbroker.