Interactive Brokers Review

Introduction

Founded in 1978, Interactive Brokers (IBKR) is one of the biggest US-based DMA brokers, regulated by several top-tier authorities on a global scale, like the UK’s FCA and the US SEC. Also listed on the NewYork Stock Exchange (NYSE), it is considered to be a safe broker, due to its long track record.

The company attracts active traders with per-share pricing, an advanced trading platform, a large selection of tradable securities, and other important features that will be discussed in our current review. We”ll try to assess how Interactive Brokers compares to other companies which we’ve discussed in the past.

Platforms

In terms of trading platforms, IBKR had done a really great job, currently offering three pieces of trading software for its clients. The Client Portal is a web-based platform providing a streamlined view of one’s account, including all the relevant information needed. Key account metrics, Portfolio Performance, and all the essential details of the trading account will make easier for clients to monitor and trade without any desktop software installation.

On the second spot, the market maker-designed IB Trader Workstation (TWS) lets traders, investors, and institutions trade stocks, options, futures, forex, bonds, and funds on over 100 markets worldwide from a single account. The platform is tailored towards more advanced traders since it comes with features like research, market data, algos, and other trading tools.

Thirdly, the IBRK Mobile is an app that enables access to over 125 markets worldwide right from the palm of your hand, with advanced quotes and research integrated into it. There are plenty of innovative trading tools and security features, designed to make the trading process smooth and comfortable.

DMA Trading

Traders who choose to work with IBKR will be able to trade stocks in 125 markets, options, futures/FOPs, spot Forex, metals, fixed income, ETFs, and mutual funds. Both US and global assets are available through a single integrated investment account, which is an advantage.

When it comes to pricing, IBKR is another company allowing clients to choose what type of fee tiering pricing structure they want. Thee are three main options (tiered, fixed, and free) for stocks, ETFs, and warrants, while flexible options for other instruments do not miss.

Thankfully, there are account minimums, neither for IBKR Pro or IBKR Lite, but there is an account maintenance fee of up to $10 (IBKR Pro) if the average equity for a calendar month won’t be greater than $100,000 or if $10 in commission won’t be generated in a calendar month.

Pros and Cons

• A broad portfolio of trading instruments both from the US and the rest of the world
• Multiple fees tiering structures available for clients
• Great and diverse research tools.

• Account maintenance fee.
• Funding and withdrawals only through bank transfer
• Complicated desktop platform, suited only for advanced traders.

Summary

To summarize, Interactive Brokers (IBKR) is one of the most reliable US-based DMA brokers, but as seen in our review, it has its own weaknesses, like any other company. It’s good to see clients can get access to different fee structures, and global trading instruments.