Interactive Brokers Review & User Rating 2020
Interactive Brokers is a financial services market giant. It has been successfully operating in the industry for over 40 years. The company was founded by Сhairman Thomas Peterffy. Interactive Brokers provides its services for institutional and professional traders. Around 1 million deals are made on a day-to-day basis.
- Start year:1977
- Country of origin:US
- Regulation:SEC, NASD, NYSE, SFA, and other international agencies
- Payment options:bank transfer
- Minimum account size:$10,000
- Minimum lot size:0.25 lot
- Leverage:1:4 – 1:100
- Spreads:1.3 pips on EUR/USD
There is a tremendous list of instruments at clients’ disposal, such as stocks, bonds, options, futures, currency pairs, and CFD. IB’s headquarters is located in the US. The company’s full address is listed on the main website. It has branches in European and Asian countries.
IB clients can choose among several types of trading terminals. TWS deserves special attention. The platform is equipped with various useful functions such as fundamental analysis and risk management. It allows traders to control deals and track trade balance. However, there is one minor problem. New entrants can face difficulty using the platform. Therefore, the broker recommends paying attention to an easy-to-use IBKR WebTrader trading platform. It has the IBKR Mobile and IBot apps.
There are more than 100 trading sites in 31 countries around the world. The company provides investment and trading accounts. The trading commission is usually lower than competitors’. The clients who pay above $10 of commission per month or keep more than $100,000 in their accounts can count on a free monthly service. The company has specific conditions for traders under 26 years.
The registration process may seem complicated and time consuming. The company requests a large amount of client information and the filling procedure takes about 30 minutes. Account verification will take 2 days if all the requirements are met.
Deposit and withdrawal of funds
Deposits and withdrawals are made through a bank transfer. Deposit is always free of charge while withdrawal is only once a month. Сommission of $10 per month will be charged for all further procedures. It is available to make a deposit in 23 different world’s currencies, including the Russian ruble.
Current IB clients can contact customer service 24/5. Potential clients can get in touch with the service by clicking the link ‘Looking for help’ in the electronic application form.