Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team. Of the 60+ brokers reviewed on BrokerNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer ZuluTrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5. Finally, Interactive Brokers differs in the product offering depending on your country of origin. Thus, we will focus this review on Europe and other non-US customers since they are our primary target audience and have fewer nuances. If you’re all about saving money and don’t need extra tools, Lite is a good choice.
Interactive Brokers is one of the world’s largest and most stable brokers. It stands apart from other brokers with its massive range of tradable instruments, competitive fees, advanced trading platforms, and fast order execution. Novice forex traders may not find as much information specific to forex or CFD trading and the IBKR platform suite has a steep learning curve.
Customer Support
- To score Customer Service, StockBrokers.com partners with customer experience research firm Confero to conduct phone tests from locations throughout the United States.
- Interactive Brokers offers a range of state-of-the-art platforms, from the web-based client portal to the advanced Trader WorkStation (TWS) platform and two proprietary mobile apps.
- Interactive Brokers provides access to a suite of highly advanced and versatile trading platforms.
- Traders can find the Client Agreements in the accounts section of the website.
Zacks Trade is a broker that should appeal to active traders with its advanced trading platform and ample research offering. New investors may be turned off by the high account minimum and fees for mutual fund trades. As before, active traders will likely find the offerings very useful, especially as they expand their circle of competence.
The projections or other information generated by the Interest Calculator tool are hypothetical in nature, do not reflect actual results and are not guarantees of future results. The interest calculator is based on information that we believe to be accurate and correct, but neither Interactive Brokers LLC nor its affiliates warrant its accuracy or adequacy and it should not be relied upon as such. Neither IBKR nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this calculator. This is commentary on economic, political and/or market conditions within the meaning of CFTC Regulation 1.71, and is not meant provide sufficient information upon which to base a decision to enter into a derivatives transaction.
Webull is a great pick for mobile trading, not only for no commissions on stocks and options but also for its new addition of futures. If you’re looking for a few of the more specialized retirement account types, Interactive Brokers may not be for you. If there’s a downside here, it’s that you may be charged for the dividend reinvestment.
However, if you’re in the Lite tier, you’ll skip the commission, which is in line with the industry. Besides these traditional choices, Interactive Brokers introduced in 2022 what it calls event trading, which is binary options betting on whether specific events occur in a set time frame. Essentially, you bet on how a futures contract on the Chicago Mercantile Exchange will perform by the end of the day on a “yes-no” question, such as “Will Security X close above $10? Such cheap margin may allow some clever investors to use their Interactive Brokers account as a way to fund larger purchases cheaply, but the margin rate is variable and if overall rates rise, so will the costs of your loan.
Customer support
IBKR’s research on stocks and funds is comprehensive, with key ratios, financial trends, and even an impact section tailored to your personal values (incorporating the same insights as the Impact Investing tool). The financials are beautifully presented with YoY changes and trends, while the Analyst Forecasts section offers everything needed to gauge future performance. Unfortunately, I did have to manually calculate the forward P/E ratio but this is a problem every brokerage firm seems to have. Interactive Brokers was the clear winner in our study in terms of range of offerings. They offered nearly every type of investment we were looking for as part of our research. They also offer fractional share trading, where you can buy less than a full share of stock depending on your budget.
Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional. At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions. Providing valuable content for beginners and advanced traders, I rated IBKR’s educational materials as better than average for the industry. Interactive Brokers provides 24/5 customer service each business day via regional Client Service Centers across America, Europe, and Asia.
Trading platform stock chart features
Still, the macro focus was strong, and the integration of impact investing concepts into the learning materials was very welcome. Interactive Brokers takes opinion research to the next level with its à la carte vendor selection, offering insights from nearly every major provider. Interactive Brokers provides the standard $500,000 of SIPC insurance for your account balance as well as an additional $30 million of coverage for your investment assets and $900,000 for cash provided by Lloyd’s of London. Interactive Brokers offers more funding options than just about any other broker we review. Some, like snail mail, can take a week or more, but others, such as wire transfers, can settle in less than a day. Interactive Brokers only pays an interest rate on uninvested cash balances above $10,000 — and even then, it doesn’t pay interest on the first $10,000.
- The interest calculator is based on information that we believe to be accurate and correct, but neither Interactive Brokers LLC nor its affiliates warrant its accuracy or adequacy and it should not be relied upon as such.
- Would you mind providing us with more information on this to , so we can help resolve this with you.
- Here, we focus on the broker’s longevity, the company’s size, and its transparency.
- One of the most unusual is a fee of $1 or more per withdrawal, if you exceed one withdrawal per calendar month.
Mutual fund research features
These platforms provide advanced charting capabilities, easy navigation, and support algorithmic and high-frequency trading strategies. In general, the broker has made an effort to extend its appeal by releasing additional products, services, and instructional material geared for less active traders and investors. Exchange-traded funds (ETFs), as a rapidly expanding area of the financial products universe, are ideally suited for adopting a wide range of investing strategies for IBKR clients. They cover a variety of investing subjects, including stocks, fixed income, and alternative investments. TradeStation caters to advanced traders, including sophisticated trading platforms and options tools, as well as the ability to trade futures. WellsTrade offers a basic trading experience that may appeal to investors who bank with Wells Fargo, but more active traders may be disappointed by the bare bones approach.
The casual traders who find IBKR Lite appealing will find the IBKR Mobile app or Client Portal platform adequate for their trading needs. IBKR Mobile can, however, be a bit laggy at times, and sometimes takes a while to log you in. NinjaTrader offers a simulation account that you can access through the client portal after signing up. It’s a great way to explore the platform and practice trading without risking any real money. With the demo account, you can switch between the mobile, web and even desktop platform where the full range of advanced features are found.
You’ll be able to trade Bitcoin, Bitcoin Cash, Ethereum and Litecoin at an attractive commission and, again, without those hidden markups. The broker’s IMPACT mobile app allows you to look at your holdings from an ESG perspective and trade in or out, among other features. However, if you’re using the Lite program, you won’t enjoy rates that are quite so cheap. That’s still much better than comparable brokerages, however, and if you don’t use margin, then it’s not a deal-breaker anyway.
The Rebalance and Tax Loss Harvesting tools simplify complex portfolio adjustments with just a few clicks. It’s a game-changer for U.S.-based advisors, creating interactive brokers forex review detailed portfolio performance reports and market commentary in seconds. Imagine pulling in insights on your five best and worst-performing holdings, market news, and macroeconomic trends almost instantaneously instead of an hour of research. For advisors managing multiple clients, this tool would be an incredible time-saver. The platform supports up to eight charts at once, all of which can be edited on the fly.
Interactive Brokers turned in another strong showing in Bankrate’s annual brokerage reviews, scoring a top five-star rating. With the addition of various features such as mobile apps or clearer site navigation in the last few years, the broker has become a more attractive place for average investors. Those joined with the broker’s traditional strengths – its robust trading platforms, the ability to invest seemingly anywhere, low margin rates and more – make Interactive Brokers a powerhouse offering.
No transaction Fee ETFs
Their sophisticated trading technology earned them top rankings in our listings of the best online brokers and the best online brokers for day traders. The flagship IBKR Pro platform can be a little intimidating for beginners, but when paired with their simplified mobile and web-based options, Interactive Brokers stands out as an excellent option. Interactive Brokers has always been a great choice for active traders, especially those who can move into the broker’s cheaper volume-pricing setup.