Interactive Brokers Logo
Written by:
Fact checked by:
Updated:
Dec 2022
Recommended for
  • equity trading 4.9/5
  • forex trading 3.9/5
Trusted broker
  • Top-tier regulation in the US
  • Compensation in case of broker bankruptcy (terms apply)
  • Long track record - founded in 1977
Popularity
129,235 people chose this broker in the last 6 months

Our take on Interactive Brokers

Interactive Brokers (IBKR) is highly recommended for those seeking all-round great services at low fees. It has an unrivaled selection of all asset types from exchanges across the globe. Its trading platforms offer great functionality and advanced research. However, the size and complexity of IBKR’s services is also behind its drawbacks. Account opening is long and tedious, platforms may be too complex for novice traders, and customer service can be busy. For a more streamlined experience, check out the IBKR GlobalTrader app to trade stocks, options and crypto for similar fees. In all, IBKR is the highest-rated broker at BrookerChooser.

BrokerChooser score
4.9 /5
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Interactive Brokers is available in United States
Stock fee
Low
Fractional shares
Yes
Minimum deposit
$0
Inactivity fee
$0
Pros
Cons
Low trading fees
Complicated account opening process
Wide range of products
Complex desktop trading platform
Many great research tools
Understaffed customer service
Expert opinion
“Interactive Brokers has one of the broadest product offerings and a complex and advanced trading platform, all at reasonable fees. This makes IBKR a popular choice for experienced and professional traders and investors. If you’re a beginner, I suggest you try the IBKR Global Trader app with its easy-to-use interface; or the Impact app if you’re interested in ESG investing.”
Gergely Korpos
Co-founder / CPO

Interactive Brokers main highlights

🗺️ Country of regulation USA, Ireland, UK, Hungary, India, Australia, Canada, Japan, Hong Kong, Singapore
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1-3 days
💳 Deposit with bank card Not available
👛 With electronic wallet Not available
💱 Number of base currencies 23
🎮 Demo account provided Yes
🛍️ Products offered Stock, ETF, Forex, Fund, Bond, Options, Futures, CFD, Crypto, Warrants, Structured Products

Interactive Brokers summary

To read much more details about the broker's services and features, expand on the sections below.

Interactive Brokers review
Fees

Score: 4.5/5
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Interactive Brokers has low trading fees and the best margin rates in the industry. For US clients, stock and ETF trading is free if they choose the Lite plan.
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Interactive Brokers review
Account opening

Score: 3.2/5
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IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated and account verification takes relatively long.
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Interactive Brokers review
Deposit and withdrawal

Score: 3/5
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Interactive Brokers offers several account base currencies and one free withdrawal per month. The main drawback is that you can only use bank transfer.
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Interactive Brokers review
Web trading platform

Score: 3.8/5
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The Interactive Brokers web platform is simple and easy to use, even for beginners, however there are some minor but annoying glitches.
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Interactive Brokers review
Mobile trading platform

Score: 3.5/5
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The Interactive Brokers mobile trading platform boasts a lot of functions and a useful chatbot, but its user interface could be better.
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Interactive Brokers review
Desktop trading platform

Score: 3.8/5
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IB's desktop platform, TWS comes with great customizability and advanced order execution, but it's not user-friendly and caters more to advanced traders.
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Interactive Brokers review
Markets and products

Score: 5/5
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At Interactive Brokers, you have access to an extremely wide range of markets and all product types are available.
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Interactive Brokers review
Research

Score: 4.3/5
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Interactive Brokers has almost limitless research possibilities, but the user interface is not the most user-friendly.
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Interactive Brokers review
Customer service

Score: 4.3/5
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Interactive Brokers's customer service could be better. You can contact them via phone, email, live chat and an automated 'iBot', and receive mostly relevant answers. However, waiting times can be long, especially on the phone.
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Interactive Brokers review
Education

Score: 4.5/5
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Interactive Brokers offers a wide range of quality educational materials and tools, including videos, courses, webinars, a glossary, and a demo account.
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Interactive Brokers review
Safety

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Interactive Brokers is regulated by several financial authorities, including top-tier ones like the SEC in the US and the UK's FCA. Its parent company is listed on the NASDAQ exchange.
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Interactive Brokers review
Bottom line

Interactive Brokers is one of the biggest US-based lowest spread brokers, regulated by several top-tier regulators globally. We recommend this broker both for advanced traders and for everyday investors who want to have access to many stock markets.

On the plus side, IB offers very low fees, a vast range of markets and products, and diverse research tools

There are some drawbacks, however. We weren't satisfied with the quality of the customer service and the account opening process is complicated. Unlike the web and mobile platforms, the desktop platform is complex and hard to get a handle on, especially for beginners.

If you have experience navigating complex platforms and enjoy transparent, low-cost trading, Interactive Brokers is a great fit for you.

Visit broker

A really excellent broker truly the most comprehensive that serves all US & most free markets advanced securities to UK & EU clients.

Simeon

Interactive Brokers review
FAQ

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Author of this review

Adam Nasli

Author of this review

Adam is a motivated finance expert. He joined BrokerChooser in 2018 and has since tested almost all 100+ brokers covered by BrokerChooser. Adam holds a professional degree from CEU and he helps teach finance and programming courses at his alma mater. Previously he worked in the banking sector, including at Citi Bank. He loves researching the financial industry, managing his long-term investments, and trading with algorithms.

Adam Nasli

Analyst Head

Adam is a motivated finance expert. He joined BrokerChooser in 2018 and has since tested almost all 100+ brokers covered by BrokerChooser. Adam holds a professional degree from CEU and he helps teach finance and programming courses at his alma mater. Previously he worked in the banking sector, including at Citi Bank. He loves researching the financial industry, managing his long-term investments, and trading with algorithms.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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