Forex brokers

Adrian Forex brokers Views: 425

Interactive Brokers

0 (0 Reviews)
Compare with:

Interactive Brokers

Date founded

Dec 31, 1976

Publicly traded company

Regulation in major hub





Demo version


Regulation (trading)

The Financial Conduct Authority (FCA)


United States


English, French, Italian, Spanish

Spot trading










Decimal pricing

4 Digits

Max Leverage


One click execution


Minimal Lot


Cryptocurrency trading support



Referral bonus of up to $200


Currency pairs


Deposit methods

Bank wire

Minimum Initial Deposit


Mini Account:


Standard Account:


ECN Account:




Withdrawal methods

Bank wire

Contact phone

1 (877) 442-2757

Contact email

Interactive Brokers has been described as one of the best broker platforms for advanced and professional traders. Professional or active traders will enjoy the platform's full range of financial instruments, low commissions, and excellent margin rates. New traders would probably not enjoy the platform seeing as there is an inactive fee for accounts that fail to meet the required minimum commission. The platform is also rather complex and advanced. The broker is regulated by FCA, indicating that it is secure and investors can be guaranteed the safety of their investments.



•     Trading Platforms: Interactive Brokers offer traders one trading platform, their proprietary IBS Trader Workstation. However, like the rest of the website, this platform is not exactly easy to use and might prove to be somewhat complicated for new traders. The fact that the broker has not offered traders popular platforms such as Metatrader 4 is not precisely a disadvantage, as the Trader Workstation is extremely impressive and contains more customizable tools than Metatrader 4 itself. Additionally, Trader Workstation includes over 60 order types, which is way more than what your average trading platform has to offer. However, extra caution should be taken when setting up the various specifications and options as one wrong step can throw off the entire system or cause unexpected results.

 •     Trading accounts: interactive brokers offers numerous account options classified under two big account types: accounts for individuals and accounts for institutions. Registering for an account on the platform is a rather tedious affair that can take up to 30 minutes. There is a 5 step verification process which requires users to provide lots of personal identification data.

 •     Payment methods: the payment methods available on Interactive brokers are; Trustee to trustee, AUD Bill Payment, Online Payment, Automated Clearing House, Direct Rollover, Canadian Electronic Funds Transfer, Cheques and Bank wire transfers. However, European traders are limited to only bank wire transfer.

 •     Mobile traders: Interactive brokers offer clients with a mobile-based platform that is compatible with both Android and iOS phone. The application is rather difficult to operate.

 •     Education and customer support: the education resource center is full of lucrative material. Traders can learn both how to use the platform and how to navigate the trade professionalism they are engaged in. Resource material is in the form of webinars, online courses, tutorials and a glossary. The customer support team can be reached through telephone, live chat or email.



•     Remarkable Trading Platform: The IBS Trader Workstation is quite exemplary, offering traders speedy executions and very lucrative tools and charts.

•     Extremely Low Charges Fees: The low margin rates offered by IBS are also quite an advantage, especially so for margin traders.

•     Several available financial instruments: Traders have also been offered a comprehensive list of financial instruments to trade in, not to mention the fact that high volume traders pay very low fees.



•     Trading platform intended for advanced traders: IBS is structured for advanced traders, to the point that inactive accounts or accounts that fail to meet the requisite commission minimum attract a penalty.

•     High Minimum Rates: For those retail traders, the minimum rates are extremely high and the trading platform rather complicated to use.

•     Gained “red flags” due to poor customer support: The customer service team has also been faulted for extreme laxity.



Interactive Brokers seems to have been structured with a particular set of clients in mind- high volume traders and advanced traders-, which is not necessarily a bad thing. It has proved quite lucrative for professional traders though it cannot be recommended to retail and new traders as it is rather complicated.

Pros & Cons
  • Leader in access to international markets as well as investment offerings
  • Lowest trade commissions and margin rates in the industry
  • Endless order types for professionals
  • Fees charged for inactive accounts
  • Poor customer service
0 0


1 Comment

  1. User avatar

    Kamjin (15) 5 months ago

    I've been using them for some time, they offer a good product and good trading but if you want something from them they reply like robots without trying to help you

    0 0

Copyright © 2017 - 2019. All rights reserved.