Interactive Brokers (IBKR) is an international brokerage firm founded in 1978 and headquartered in Greenwich, Connecticut, USA. The company provides multi-asset trading services to retail and institutional clients in over 200 countries. Its offering includes access to various global markets, a range of trading platforms, and pricing structures designed for active traders.
Pros and Cons
Pros
- Advanced Technology – Interactive Brokers trading platforms, especially Trader Workstation (TWS), are among the most powerful and professional platforms available.
- Ultra-Low Fees – ECN-style spreads, low commissions, and competitive pricing, particularly beneficial for high-volume traders.
- Strong Regulatory Oversight – Heavily regulated across multiple jurisdictions with robust investor protection measures.
- Wide Range of Markets – Ability to trade and invest in numerous global markets from a single account.
- Education and Research – Comprehensive IBKR Campus offering courses, webinars, podcasts, and access to 200+ research providers.
Cons
- Platforms Complexity – Trading platforms can be intimidating and less user-friendly for beginners.
- Lack of Copy Trading – No native social or copy trading features are available.
Basic Information About Interactive Brokers
| Website | https://www.interactivebrokers.ie/en/ 74-89% of retail investor accounts lose money when trading CFDs with this provider. |
| Authorisation / Regulation | CBI(Central Bank of Ireland), FCA, ASIC, CIRO, MAS |
| Minimum Deposit | $0 |
| Spreads | Variable, often from 0.1 pips on major forex pairs |
| CFD Instruments | Indices, forex, metals, shares, energies |
| CFD Leverage | Up to 1:30 |
| Real Assets | Stocks, forex, options, futures, bonds, mutual funds, ETFs, gold, cryptocurrencies, forecast contracts, hedge funds |
| Trading Platforms | Trader Workstation (TWS), IBKR GlobalTrader, IBKR Mobile, IBKR Client Portal, APIs, TradingView integration |
| English | Yes |
| Demo Account | Yes, with $1,000,000 in virtual funds |
| Mobile App | Yes |
| Deposits & Withdrawals | Bank transfer, ACH, SEPA, wire transfer, BPAY, region-specific methods |
| Extra Benefits | Access to 90+ stock exchanges |
Interactive Brokers Trading Platforms
Interactive Brokers provides several platform options tailored to different user needs. The flagship platform, Trader Workstation (TWS), is a powerful desktop application designed for professional and active traders. It offers advanced charting tools, customisable layouts, multi-monitor support, over 100 order types, real-time data, and risk management tools. Despite its powerful capabilities, TWS can feel overwhelming for newcomers due to its complexity, although experienced traders often consider it one of the best platforms available.
On the other hand, the Client Portal is a web-based dashboard that offers full trading and account management features. It is the simplest platform on IBKR for everyday tasks like checking balances, making transfers, and placing basic trades. It is generally recommended for passive or newcomer traders.
For mobile users, IBKR Mobile delivers a streamlined experience with charting, alerts, and trade execution on the go. Meanwhile, IBKR GlobalTrader is a user-friendly app focused on stocks, ETFs, and options, featuring intuitive search, enhanced watchlists, and simplified order tickets.
Interactive Brokers also supports API integration for algorithmic trading in languages like Python and seamless connectivity with third-party tools like TradingView for enhanced charting and community insights.
Trading Instruments Available on Interactive Brokers
Interactive Brokers is one of the most diversified multi-asset brokers in the world, offering a wide range of instruments. Its collection of products features both real assets alongside CFDs. Here is a breakdown of the products available:
Real assets
- Forex – IBKR provides access to over 100 currency pairs, covering majors, minors, and exotics, with institutional-grade pricing.
- Stocks and ETFs – Direct market access to shares and ETFs across over 90 global exchanges, including US, European, Asian, and emerging markets.
- Bonds – Interactive Brokers offers over 1 million bonds, including U.S. Treasuries, corporate, and municipal bonds, with low commissions.
- Futures and Options – The broker provides thousands of contracts on indices, commodities, and currencies across global exchanges for hedging and speculation.
- Gold – IBKR offers both trading in spot gold, allowing traders to speculate on the price movement of the metal and own the actual asset.
- Cryptocurrencies – IBKR supports the trading of major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), available in a regulated environment for eligible clients.
- Hedge Funds – The platform provides access to a selection of hedge funds for accredited investors.
- Forecast Contracts – Interactive Brokers also offers the trading of Forecast Contracts (event-based futures) for speculating on various economic and political outcomes.
- ETFs – Through IBKR, traders can access a plethora of Exchange-Traded Funds covering every major asset class, strategy, and region.
CFDs
Alongside real assets, Interactive Brokers supports the trading of CFDs on forex, shares, indices, energies, and metals. These allow traders to speculate on the price movement of assets without owning them.
Interactive Brokers Spreads and Fees
Interactive Brokers offers competitive pricing structures depending on the asset being traded. For spot currency pairs, the broker offers ultra-low spreads from as low as 0.1 pips plus a tiered commission structure depending on the trading volume. Traders with a monthly trading volume of less than or equal to $1 billion pay a commission of 0.20 basis points multiplied by the trade value.
Other asset classes feature similar pricing structures. Interactive Brokers has two main ways of charging for share trading. IBKR Lite is the simplest: U.S. residents can trade U.S. shares and ETFs with no commission, paying only very small regulatory fees. Non-U.S. clients usually cannot use Lite.
IBKR Pro charges a commission and is meant for active traders. Under Fixed Pricing, you pay $0.005 per share, with a $1 minimum per trade and a cap of 1% of the trade value. Under Tiered Pricing, the cost per share starts at $0.0035 and gets cheaper if you trade more shares monthly, but you also pay small exchange and regulatory fees.
Overnight financing fees apply for leveraged positions. Always confirm all the current trading fees on the broker’s official website before trading, as pricing can change with time.
Interactive Brokers’ Small Business and Joint Accounts
Interactive Brokers supports joint accounts with two or more individuals, allowing shared ownership and trading access. All account holders must complete identity verification. Joint accounts can be opened as tenants in common, joint tenants with rights of survivorship, or community property (where applicable).
Small Business accounts are available for businesses, trusts, partnerships, and institutions. The application requires business documentation, such as certificates of incorporation, tax IDs, and ownership details. Small business accounts gain access to the same global markets and platforms, with the ability to manage multiple sub-accounts under a single login.
Overall, Interactive Brokers’ corporate and joint accounts are designed to support shared or professional trading needs. However, they involve more verification and may require higher activity for fee waivers compared to individual accounts.
Interactive Brokers Customer Support
Reliable support is vital when managing investments. Interactive Brokers offers 24-hour multilingual assistance via several channels. To reach customer support, IBKR clients can use phone, live chat, and email. The broker also maintains an extensive online Knowledge Base with articles, video tutorials, and FAQs.
In addition, the broker maintains active social media channels on X, LinkedIn, Instagram, Reddit, and Facebook. Such channels are valuable as they provide ways for the broker to engage with its clients and provide updates.
The Credibility of Interactive Brokers
Assessing the credibility of a financial institution requires prioritising its regulatory status. Interactive Brokers operates under the regulation of several financial authorities around the world. These include the FCA in the UK, the ASIC in Australia, the MAS in Singapore, and the CIRO in Canada, among others. This multi-jurisdictional regulation is a significant factor in its credibility.
On top of that, Interactive Brokers is a publicly traded company listed on the NASDAQ under the ticker IBKR. This status means that it operates with a high degree of transparency and substantial operational capital, which is a major benefit for client fund security. Moreover, the broker has over 45 years of history and 4+ million accounts.
However, customer feedback is mixed regarding platform usability for new traders and support responsiveness. On Trustpilot, Interactive Brokers holds a rating of around 3.7 stars out of 5, with praise for its product range and costs, but some criticism concerning the user experience for novice traders.
Interactive Brokers Education Section
Interactive Brokers offers a robust education centre via IBKR Campus, accessible on the website’s home page. It features interactive courses, videos, webinars, and podcasts on trading basics to advanced strategies. Additionally, the broker has recently introduced a microlearning app called IBKR InvestMentor for bite-sized lessons on economics and investing. The App is completely free, designed for aspiring investors to learn on the go.
Live webinars with experts cover market outlooks and tools; podcasts are released weekly on platforms like Spotify. Resources suit all levels, from basic concepts to algorithmic trading, making it comprehensive for serious users.
How Interactive Brokers Compares With Competitors
Together with a colleague, we prepared a detailed comparison of Interactive Brokers with key competitors. We assessed it in a head-to-head matchup with XTB, eToro, Pepperstone, and Saxo Bank. Overall, Interactive Brokers stands out for its institutional-grade tools and global market access. Nonetheless, each broker brings something unique.
Against XTB, IBKR excels with a larger collection of global markets and low margins, though XTB offers a more beginner-friendly xStation platform. When compared with eToro, the distinction is clear. eToro focuses heavily on social and copy trading features, making it more suitable for casual investors or users who want community-driven insights. Interactive Brokers, by contrast, prioritises market depth, with no social trading features.
Versus Pepperstone, IBKR provides broader assets but lacks third-party platforms like MT4 and MT5. Moreover, Pepperstone also offers copy trading through various platforms. Saxo Bank is perhaps the closest match to IB in terms of global reach and professional-grade tools. Both brokers offer a wide suite of instruments and sophisticated platforms.
Final Verdict
Interactive Brokers is a top-tier broker for serious traders, investors, and professionals seeking low-cost access to global markets. Its strengths lie in its vast product range, advanced trading platforms, competitive pricing, and strong regulatory standing.
However, the complexity of its platforms and the lack of social trading features may not suit new traders or those looking for a simple investing experience. The mixed reviews can also act as a deterrent for potential clients. Generally, the platform’s full potential is realised by those willing to climb the learning curve.
Interactive Brokers is an excellent choice for active traders, international investors, and anyone prioritising low costs and direct market access. Aspiring traders or those wanting a more guided or social experience may prefer alternative brokers.
74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.