Interactive Brokers Review

Active investors and multi-asset traders

SEC CFTC FINRA FCA CBI ASIC SEBI MAS CIRO

Founded 1993 · United States

Why investors choose this broker

$0 Lite commissions on US stocks and ETFs
IBKR Pro stocks from USD 0.0005 per share
US options from USD 0.15 per contract
Margin loans start at USD 4.14%

Review summary

Interactive Brokers is a multi-asset broker with stocks, ETFs, options, futures, currencies, bonds, funds and crypto across web, mobile and desktop platforms.

Pros

$0 Lite commissions on US stocks and ETFs
IBKR Pro stocks from USD 0.0005 per share
US options from USD 0.15 per contract
Margin loans start at USD 4.14%
Cash interest up to USD 3.14%
No inactivity fees
No minimums for general investment accounts
Paper trading with simulated funds

Cons

IBKR Pro stocks cost up to USD 0.0035 per share
IBKR Lite stock orders include PFOF
US options cost up to USD 0.65 per contract
Crypto execution and custody are for eligible clients
Forecast contracts are limited to eligible clients

Company background

Interactive Brokers is a global broker that provides direct-access trade execution and clearing services to sophisticated investors, active traders and institutions. Interactive Brokers Inc., now known as IB LLC, was incorporated as a US broker-dealer in 1993. The broker lists stocks, ETFs, options, futures and futures options, spot currencies, US spot gold, bonds, mutual funds, prediction markets, hedge funds and cryptocurrency trading through third-party providers for eligible clients.

Fees and pricing

Interactive Brokers publishes separate pricing signals for IBKR Pro and IBKR Lite. For US exchange-listed stocks, IBKR Pro lists low commissions of USD 0.0005 to USD 0.0035 per share, while IBKR Lite lists USD 0.00 per share. US options commissions are from USD 0.15 to USD 0.65 per contract. Margin loans start at USD 4.14%, and instantly available cash balances can earn up to USD 3.14%. The broker also lists no minimums for general investment accounts, no inactivity fees, no added spreads, ticket charges or platform fees, and no recurring fees.

Regulation and safety

Interactive Brokers LLC is a member of NYSE, FINRA and SIPC and is regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. The group lists other regulated affiliates, including entities overseen by FCA, CBI, ASIC, SEBI, MAS and CIRO. Interactive Brokers describes client asset handling through reserve and segregation arrangements, with a portion of client money held in special bank or custody accounts for the exclusive benefit of clients.

Platform experience

The platform range covers browser, desktop, mobile and API access. Client Portal is the browser-based trading and account management platform. IBKR Desktop is a streamlined desktop platform, while Trader Workstation is the professional platform. IBKR Mobile is available for iOS and Android. Interactive Brokers also names IBKR GlobalTrader, IMPACT, IBKR APIs and IB Gateway.

Pros and cons

The main strengths are specific pricing advantages, broad market access and a large platform set. The broker lists USD 0.00 Lite stock commissions, low per-share Pro stock commissions, low US options commissions, margin pricing from USD 4.14% and no inactivity fees. Limitations include PFOF for IBKR Lite stock orders, per-share Pro stock commissions, options contract fees, and eligibility restrictions for crypto execution, custody and forecast contracts.

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Open an account directly with the broker. Confirm current fees and account eligibility on the broker's website before depositing.

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Your capital is at risk. Other fees apply.

Trading fees & commissions

IBKR Lite lists USD 0.00 per share for US exchange-listed stock commissions, while IBKR Pro lists USD 0.0005 to USD 0.0035 per share. US options commissions are from USD 0.15 to USD 0.65 per contract, margin loans start at USD 4.14%, and cash balances can earn up to USD 3.14%.

Fees

Item	Fee
Margin	Margin loans start at USD 4.14%
Account	No minimums for general investment accounts
Options	From USD 0.15 to USD 0.65 per US options contract
Platform	Free Access to all IBKR's trading platforms
Inactivity	No inactivity fees
Stocks Pro	USD 0.0005 to USD 0.0035 per share
Market Data	Free real-time streaming data on all US-listed stocks
Stocks Lite	USD 0.00 per share

Trading platform & features

Platforms

Client Portal
IBKR Desktop
IBKR Mobile
Trader Workstation
IBKR GlobalTrader
IMPACT
IBKR APIs
IB Gateway

Regulation and investor protection

Interactive Brokers LLC is a member of NYSE, FINRA and SIPC and is regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Other Interactive Brokers affiliates are regulated by agencies including FCA, CBI, ASIC, SEBI, MAS and CIRO.

Broker FAQs

Is Interactive Brokers safe?

Interactive Brokers LLC is a member of NYSE, FINRA and SIPC and is regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Interactive Brokers also describes reserve and segregation arrangements for client assets.

Is Interactive Brokers a scam?

No. Interactive Brokers LLC is a regulated broker-dealer, a member of NYSE, FINRA and SIPC, and part of a group that lists regulated affiliates overseen by agencies including FCA, CBI, ASIC, SEBI, MAS and CIRO.

Is Interactive Brokers regulated and by whom?

Interactive Brokers LLC is regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. The group also lists other regulated affiliates, including entities overseen by FCA, CBI, ASIC, SEBI, MAS and CIRO.

What happens to my money if Interactive Brokers goes bankrupt?

Interactive Brokers says properly segregated client assets are available to be returned to the client in the event of a default or bankruptcy of the broker, provided no money or stock is borrowed and no futures positions are held.

Does Interactive Brokers keep client funds in segregated accounts?

Yes. Interactive Brokers says a portion of client money is segregated in special bank or custody accounts designated for the exclusive benefit of IBKR clients.

Are there hidden fees at Interactive Brokers?

Interactive Brokers lists no added spreads, ticket charges or platform fees for its stock offering. It also lists no recurring fees and no inactivity fees.

What does Interactive Brokers charge for stock trades?

For US exchange-listed stocks, IBKR Pro lists commissions of USD 0.0005 to USD 0.0035 per share. IBKR Lite lists commissions-free pricing at USD 0.00 per share and includes PFOF.

Does Interactive Brokers charge an inactivity fee?

No. Interactive Brokers lists no inactivity fees.

What does Interactive Brokers charge for options?

Interactive Brokers lists commissions from USD 0.15 to USD 0.65 per US options contract.

What products does Interactive Brokers offer?

Interactive Brokers lists stocks, ETFs, options, futures and futures options, spot currencies, US spot gold, bonds, mutual funds, prediction markets and hedge funds. It also describes cryptocurrency trading through Paxos Trust Company and crypto execution and custody through Paxos Trust Company and ZeroHash for eligible clients.

Does Interactive Brokers offer ETFs?

Yes. Interactive Brokers lists ETFs as a trading and investment product and describes a No Transaction Fee ETF program with over 150 ETFs.

Does Interactive Brokers offer crypto?

Yes. Interactive Brokers introduced cryptocurrency trading through Paxos Trust Company and says cryptocurrency trade execution and custody are provided by Paxos Trust Company and ZeroHash to eligible clients of Interactive Brokers LLC.

Does Interactive Brokers offer options?

Yes. Interactive Brokers lists options and options trading tools. It also describes commissions from USD 0.15 to USD 0.65 per US options contract.

Can I buy fractional shares on Interactive Brokers?

Yes. Interactive Brokers lists Fractional Shares and says fractional shares let clients invest regardless of share price.

What is the minimum deposit at Interactive Brokers?

Interactive Brokers lists no minimums for general investment accounts.

How do I open an account at Interactive Brokers?

Interactive Brokers describes a three-step process: complete the application, fund the account and get started trading.

Does Interactive Brokers have a demo account?

Yes. Interactive Brokers offers paper trading with simulated funds.

Does Interactive Brokers have a mobile app?

Yes. Interactive Brokers lists IBKR Mobile for iOS and Android. It also names IBKR GlobalTrader and IMPACT among its platform options.

Is Interactive Brokers good for long-term investing?

Interactive Brokers offers stocks, ETFs, bonds, mutual funds, fractional shares and recurring investments. The broker also provides PortfolioAnalyst for portfolio insights.

Is Interactive Brokers good for day trading?

Interactive Brokers provides direct-access trade execution, Trader Workstation and more than 100 order types. It also serves active traders and lists products such as stocks, options, futures and currencies.

Bottom line

Interactive Brokers suits active investors and multi-asset traders who want broad market access, several platforms and explicit low-cost pricing. It may be less suitable for users who want only a simple app or who want commission-free pricing without PFOF.

Interactive Brokers

Active investors and multi-asset traders

Open Account

Your capital is at risk. Other fees apply.