Interactive Brokers is one of the pioneer brokers with a long track record that goes back to 1978.
- Low trading charges.
- Excellent research materials.
- Access to over 135 markets across 33 countries globally.
- A wide array of trading assets.
- Trading platform is not user-friendly.
- Customer service is only available 24/5.
It is also one of the biggest US-based brokers, having been regulated by top-tier authorities. Examples of regulatory bodies overseeing Interactive Brokers’ activities include the Commodity Futures Trading Commission (CFTC) and the Financial Conduct Authority (FCA).
Interactive Brokers – Who Are They?
Interactive Brokers has been existing for over four decades and is overseen by various global regulatory authorities. With its headquarters office in the US, this broker has expanded its services across borders to multiple countries, including Canada, the UK, Switzerland, China, Australia, and more.
Interactive Brokers (IBKR) account opening procedure is straightforward, and you will only be required to provide personal information to get your trading account ready. In addition, there is no minimum deposit requirement since the broker lets you decide on the amount to trade with. Transactions are also free of charge, making IBKR one of the best cost-effective brokers.
There are various assets that you can trade with at the IBKR platform. These include forex, stock, options, futures, bonds, commodities, ETFs, and more. The availability of plenty of assets can benefit you if you make the right moves. Simply put, it’s easy to diversify your portfolio and earn profits from trading various assets.
The trading costs at Interactive Brokers are low, with zero inactivity charges if your trading account remains dormant for a long time. Additionally, the broker has excellent top quality trading tools for learning and research.
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Our Opinion About Interactive Brokers
IBKR is simply perfect for any trader looking for a more advanced trading platform with advanced features for their skills. Unfortunately, this also means that it is not a good fit for beginners unless they are confident with their abilities.
IBKR’s has an intuitive design platform that is easily customisable. However, the platform is not user-friendly, and novice traders with zero experience may encounter challenges navigating through. It has a reliable mobile application that can be easily downloaded and installed on your mobile device to enable you to monitor your trades on the go.
When it comes to product availability, IBKR hosts all tradable assets you may need to trade. Choosing the assets you are familiar with can make you enjoy your trading experience at Interactive Brokers’ platform and improve your profit potential.
Getting started at this brokers platform is easy and free since it offers a free trial account. You can use this account to test and experiment with what the broker offers before jumping the gun.
Make use of the virtual funds and trading tools it offers. If you have any concerns or encounter trading issues, feel free to reach out to its customer service. The support service is available 24/5 through email, phone and live chat.
IB has excellent support. You can always ask a question of your interest to a specialist. In fact, get a professional answer instantly. My opinion of this brokerage service is good, and I have not encountered any problems!
If the value is your strategy, then you’re not likely to be trading often… Certainly not daily. So almost any discount broker is going to be acceptable. I’d choose based on the platform features you like and general creature comforts.
If you’re trading any more often than that, I’d go with Interactive Brokers.
Barron’s magazine has an annual review of discount brokers that is a good overview of what’s available.
I’d also add that your analysis and strategy are much more important than who executes your trades. Again, for a low-turnover value portfolio.
Interactive Brokers is a good broker to work with. It is also regulated by the authorities making it quite safe and secure to invest with. As I always say, when confused about it is better to compare the broker with others available around. Initially, I compared it with brokers like FXPro, CMC Markets, and Interactive Brokers.
For me, Interactive Brokers and FXPro suited quite well.
Guys, I’m using Interactive Brokers platform since 2017, and it was my greatest forex company ever, because of there great customer support, low fees, and totally free trading & deposit & withdraw. When I started, I made a deposit with the third party card and I was told that I can’t make a withdrawal because of that, I made another deposit with my own debit card and all is great!