Interactive Brokers

1 (877) 442-2757, 00800-42-276537, 1 (877) 745-4222
Greenwich, Connecticut, United States

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

  • International market access
  • Can trade from multiple account types (IRA, single registered, Joint, etc.)
  • Many different asset classes and investment/trading options
  • A robust Trader Workstation (TWS) with MANY tools
  • Direct market access
  • Free real time paper trading account for practicing in a simulated environment (when main account is funded)
  • Competitive commission rates
  • A robust online education center with tutorials for using the software
  • Institutional level research and tools available to retail traders
  • Competitive platform pricing
  • Great options analytics tools and pricing
  • Smartphone app works wells

Interactive Brokers Disadvantages

  • High required minimum equity to open trading account ($10,000)
  • Poor customer service via phone/online chat
  • Slow executions via the SMART routing
  • Per share pricing only, no per trade pricing (Expensive for high volume traders)
  • Slow desktop software (almost too many features that bog it down)
  • Limited hot key functionality (not ideal for scalpers)
  • Annoying multi step security/login that requires the use of a physical decoder device

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.

Founded in: 1993
Platforms: Trader Workstation (TWS), IB WebTrader
Minimum Deposit: 2000

Mobile Trading Seminars, Education

User Reviews


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.

I think this happened to me once before when I neglected to refresh the security code card or something like that. I ended up calling them up and having them give me 1 code card that stays the same forever instead of needing to be refreshed every month. I also had them make it so I could trade without entering the codes, and would only need the codes to log in to account management.
never happened with me ever. I have couple of accounts with them (company, individual, SIPP etc) since 2008 and overall customer services is great. The platform suites professional traders and active traders.

TV commercial shows children learning to trade on “free” paper accounts. But when you follow the link 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.