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4.6
Regulated by several financial authorities
Free stock and ETF trading for US traders
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Interactive Brokers (U.K.) Limited is authorised and regulated by the Financial Conduct Authority. FCA Register Entry Number 208159. Products are only covered by the UK FSCS in limited circumstances.

Interactive Brokers review 2024

Investing options: 4.7

Platforms & usability: 4.3

Products, markets, & assets: 4.8

Safety & reliability: 4.7

Deposits & withdrawals: 4

Research & analysis tools: 4.8

Fees & costs: 4.7

Education & learning resources: 4.6

Interactive Brokers review Summary

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Updated: Nov 29, 2023
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19 min read
IBKR is one of the largest online brokers in the world that offers access to a range of global markets. Use this Interactive Brokers review to help decide if it’s the right broker for you.

Our opinion of Interactive Brokers

Interactive Brokers is one of the best online brokers we’ve reviewed. Known for its extremely low fees, wide range of markets, and sophisticated trading platform IBKR offers a service for all levels of trader or investor. With over 100 global markets available, traders can access stocks, options, futures, forex, bonds, and funds using Interactive Brokers’ proprietary trading software. 

In this Interactive Brokers review, we’ll dig deeper into the trading experience and range of offerings. We’ll look at the trading platforms, mobile apps, research capabilities, educational resources, and customer service. Whether you’re a beginner or an experienced trader, this review will help you determine if Interactive Brokers is the right fit for your investing needs. 

Interactive Brokers highlights

Features Interactive Brokers summary
No. of tradable assets 10,000+
Min. Deposit $0
ID verification required Yes
Free demo account Yes
Supported assets Stocks, Cryptocurrencies, Commodities, Currencies, Indices, ETFs, Bonds
Mobile trading app Yes
Web trading platform Yes
Regulatory bodies FSAS, FCA, SFC, MAS, ASIC, FCA, SEC, FINRA, CNV, CVM
View more > Interactive Brokers >

Pros & Cons

Pros:

Regulated by several financial authorities
Free stock and ETF trading for US traders
Earn interest on cash balance
Free demo trading account available

Cons:

Can I open an account with Interactive Brokers?

Investing options
4.7

What can I do with Interactive Brokers?

Interactive brokers offer a comprehensive suite of features and tools. The main feature of the platform is the vast range of markets available to trade. IBKR has a selection of proprietary trading platforms that provide the tools to invest in nearly any asset class. 

Beyond trading, Interactive Brokers has additional services to help manage your portfolio. There are different account types designed for all types of traders. You can access margin trading at competitive rates allowing you to borrow against your account balance for additional buying power. You can also earn passive income on any cash balance you have sitting in your account as IBKR pays competitive interest rates. 

What accounts does Interactive Brokers offer?

Interactive Brokers has a choice of different account types depending on your own requirements. It also offers additional options which you can find below.

Account type Interactive Brokers accounts Plus500 accounts TastyTrade accounts
Trading platform Yes Yes
Crypto staking No No
Crypto wallet No No
Money management Yes Yes
Spread betting broker No No
View more > Interactive Brokers > Plus500 > TastyTrade >

Products, markets & assets
4.8

What products and assets can you trade on Interactive Brokers?

The IBKR trading platform has over 15,500 assets available to trade from over 150 global markets. You can trade stocks and ETFs from various exchanges. All of the most active forex pairs are available. There’s a massive selection of funds and bonds and a small choice of cryptocurrencies. Here’s a close look. 

Product Interactive Brokers assets Plus500 assets TastyTrade assets
Stocks 7,000+
ETFs 13,000+
Currencies 100+
Cryptocurrencies 4
Indices 150+
Commodities 100+
Bonds 38,000+
View more > Interactive Brokers > Plus500 > TastyTrade >

What leverage trading options are there?

Leverage on Interactive Brokers is available for CFD markets. The maximum available is 30:1 for retail clients. It can be higher for professional traders. Margin trading is also available for other markets such as stocks, but will depend on your account type. Below is the maximum leverage available for different assets on IBKR. 

Product Interactive Brokers maximum leverage Plus500 maximum leverage TastyTrade maximum leverage
Stocks 5:1
ETFs 5:1
Currencies 30:1
Cryptocurrencies 2:1
Indices 5:1
Commodities 10:1
Bonds 5:1
View more > Interactive Brokers > Plus500 > TastyTrade >

What are the spreads?

Spreads on Interactive brokers are floating which means they can change throughout the day. Below is the average spread for each type of asset on IBKR. 

Product Interactive Brokers spreads Plus500 spreads TastyTrade spreads
Stocks 0.03 to 0.35%
ETFs Up to 2%
Currencies 0.66 pips (average)
Cryptocurrencies 0.50%
Indices 0.05 points
Commodities $0.50
Bonds 0.5% – 2%
View all tradable assets > Interactive Brokers > Plus500 > TastyTrade >

Interactive Brokers trade sizes and limits

The minimum trade size on Interactive Brokers starts at just 0.20 lots for spot forex, or 1 share for stocks. However, the minimums may increase depending on the market you’re trading. So for example, if you want to buy a stock from a smaller exchange, the minimum may be much higher. Below is an indication of the minimum trade size at IBKR.

Product Interactive Brokers minimum trade Plus500 minimum trade TastyTrade minimum trade
Stocks 1 share
ETFs 10 shares
Currencies 0.20 lots
Cryptocurrencies $100
Indices 1 index point
Commodities $100
Bonds $100
View more > Interactive Brokers > Plus500 > TastyTrade >

Stocks

Which stocks are available on Interactive Brokers?

Interactive brokers has one of the widest selection of stocks from any online trading platform and it is possible to trade over 10,000 stocks from over 130 markets. Below is an approximate breakdown of the number of stocks available from the largest markets.  

Country No. of stocks on Interactive Brokers
United States 10,000+
United Kingdom 3,000+
Hong Kong 1,500+
Germany 1,000+
France 600+
Switzerland 500+
Sweden 400+
Spain 400+
Italy 400+
Netherlands 400+
Norway 400+
Denmark 200+
Finland 200+
Belgium 200+
Portugal 200+
Saudi Arabia 100+
View more > Interactive Brokers >

What are the fees for buying and selling stocks?

Interactive Brokers has a tiered pricing model for buying and selling stocks. Commissions vary depending on account type, order type, and trade size. Below is a summary of the fees for buying and selling stocks on Interactive Brokers. 

IBKR Lite

• Zero commission for US exchange-listed stocks and ETFs

• $0.75 per contract for options trades

• $0.01 per share for OTC stocks 

Tiered accounts

• US stocks. $0.005 per share, capped at 1% of trade value

• International stocks. $0.01 per share, capped at 1% of trade value

• OTC stocks. $0.01 per share 

There are also additional fees that apply when trading stocks which you can find below. 

Additional fees

• SEC Transaction Fee. $0.000008 per share for US stock sales

• FINRA Trading Activity Fee. $0.000145 per share for US stock sales

Crypto

What cryptocurrency pairs can be traded on Interactive Brokers?

The number of cryptocurrency pairs on Interactive Brokers is fairly limited compared to other online brokers such as eToro or Robinhood. However, there are several other crypto markets available such as funds or ETFs. Below is a look at the cryptos you can trade on Interactive Brokers. 

Cryptocurrency Cryptocurrency Cryptocurrency
Bitcoin (BTC) Ethereum (ETH) Bitcoin Cash (BCH)
Litecoin (LTC)
View more > Interactive Brokers >

What are the fees for buying and selling cryptocurrencies?

One of the benefits of using Interactive Brokers to trade crypto is the low fees. The commission rate for crypto trades on IBKR ranges between 0.12% – 0.18% of the trade value. There is also a minimum commission of $1.75 per order. 

Does Interactive Brokers offer staking and rewards?

No, Interactive brokers allow you to buy and sell a selection of cryptocurrencies but does not offer additional services such as staking and rewards. 

Forex

What forex pairs can be traded on Interactive Brokers?

Interactive Brokers has a good choice of foreign exchange pairs including the majors, minors, and exotics. There is also a growing number of emerging market currencies available on the trading platform. In the table below you will find which forex pairs you can trade on IBKR. 

Currency pair Currency pair Currency pair
EUR/USD GBP/USD USD/JPY
AUD/USD EUR/GBP USD/CAD
GBP/JPY EUR/JPY AUD/JPY
NZD/USD NZD/CAD NZD/JPY
EUR/AUD EUR/CAD USD/MXN
USD/CHF GBP/CHF AUD/NZD
GBP/AUD GBP/CAD
View more > Interactive Brokers >

What are the minimum spreads for trading forex?

Spreads on Interactive Brokers are variable and can change throughout the day based on market conditions. On average, for the largest pairs like EUR/USD spread tends to be around 0.6pips. For exotics and emerging currencies, the spread can be much higher. 

Commodities

What commodities can be traded on Interactive Brokers?

Interactive Brokers has a good choice of commodity markets. Not only can you trade the best known like gold, silver, and oil, but there is also a number of commodity indexes available. Here’s a look at which commodity markets you can trade with IBKR.

Commodity Commodity Commodity
Gold Silver Natural gas
Oil Brent oil Crude oil
Platinum Palladium Corn
Sugar Wheat Arabica coffee
Orange juice Cocoa Soybeans
Live cattle Lean hogs Cotton
Gasoline Lead
View more > Interactive Brokers >

What are the minimum spreads for trading commodities?

Like with other markets, on Interactive Brokers spreads for commodities are variable and can change throughout the trading day. Below is the average spread for different commodity types:

  • Energy: 0.25 to 0.50 pips
  • Grains: 0.5 to 1.0 pips
  • Softs: 0.75 to 1.50 pips
  • Metals: 0.25 to 0.50 pips
  • Livestock: 0.5 to 1.0 pips
  • Indices: 0.05 to 0.10 pips

Deposits & withdrawals
4

The payment options for making a deposit and withdrawal are limited compared with similar online brokers. With Interactive Brokers, the options available to you will depend on your location. In the following sections of this Interactive Brokers review, we’ll go through the various ways you can add and withdraw funds and what it may cost you to do so. 

What are the minimum & maximum deposits?

With Interactive Brokers you can make deposits into your trading account by selecting from 23 base currencies. This means you’ll save on conversion fees unless of course, your preferred currency is not available. 

Payment method Minimum deposit (USD)* Maximum deposit (USD)
Bank transfer $100 $500,000
ACH transfer $100 $250,000
Online Bill Pay $100 $250,000
Check $50 No max
View more > Interactive Brokers >

What are the minimum and maximum withdrawals?

The minimum and maximum withdrawals are similar to deposits and vary depending on the payment option you are using. Here’s a closer look.

Payment method Minimum withdrawal Maximum withdrawal
Bank transfer $100 $500,000
ACH transfer $100 $250,000
Online Bill Pay $100 $250,000
Check $50 No max
View more > Interactive Brokers >

What are the deposit and withdrawal options fees, limits, and speeds?

You get one free withdrawal per month. If you withdraw more than once, you may be charged a fee, although this will depend on the payment method you’re using.

Payment method Withdrawal fee Withdrawal speed
Bank transfer $20 1-3 business days
ACH transfer $0 2-5 business days
Online Bill Pay $0 3-5 business days
Check $15 5-7 business days
View more > Interactive Brokers >
Great, I’m Ready to Sign Up Now
Interactive Brokers (U.K.) Limited is authorised and regulated by the Financial Conduct Authority. FCA Register Entry Number 208159. Products are only covered by the UK FSCS in limited circumstances.

Fees & costs
4.7

How do Interactive Brokers fees work?

Interactive Brokers operates a simple to understand fee structure and you may have to pay a charge depending on the activity you are undertaking.

Fee Interactive Brokers fees Plus500 fees TastyTrade fees
Trading fees Yes No
Inactivity fees No Yes
Rollover/overnight fees Yes Yes
Withdrawal fees Yes, for some payment methods No
Spreads Yes Yes
Conversion fees Yes Yes
View more > Interactive Brokers > Plus500 > TastyTrade >

What are Interactive Brokers’s trading fees?

Interactive brokers charge spreads and commissions, although the amount differs depending on the asset and also which account type you have. Below are the average fees for most account types on Interactive Brokers. 

Asset Interactive Brokers fees Plus500 fees TastyTrade fees
Cryptocurrencies 0.5% to 1% From 2%
Commodities 0.50 to 1.00% From 0.04%
Currencies 0.08 to 0.20 pips From 0.8%
Indices 0.05% to 0.08% From 0.7%
Stocks Commission-free for US exchange-listed stocks From 0.08%
ETFs Commission-free for US exchange-listed stocks
Bonds 0.25 to 1%
View more > Interactive Brokers > Plus500 > TastyTrade >

Platforms & usability
4.3

What devices can I use Interactive Brokers on?

Interactive Brokers has its own proprietary trading platform and software that can be used across all devices. This means you can trade on the go from your mobile device or use a dedicated trading terminal on your home computer.

Device Browser/operating system
Web browser Google Chrome, Microsoft Edge, Mozilla Firefox, Safari
Mobile app iOS, Android
Tablet iOS, Android
View more > Interactive Brokers >

Interactive Brokers mobile app review

The Interactive Brokers mobile app seamlessly integrates trading capabilities with user-friendly features, making it an excellent tool for investors on the go. With an intuitive interface and comprehensive functionality, users can effortlessly access real-time market data, place orders, manage portfolios, and stay informed about the latest financial news. 

The app has many customisable features which allow you to tailor your experience to your specific preferences. Beyond its trading capabilities, the Interactive Brokers mobile app serves as a comprehensive portfolio management tool. You can easily track your portfolio performance, view detailed holdings information, and receive notifications about important events related to your investments. 

Web trading platform

The most important question any user has is: How easy is it to use Interactive Brokers?

It is fairly easy to use the IBKR web trading platform. The platform blends advanced trading capabilities with user-friendly features, making it a top choice for investors seeking a robust trading experience. You can tailor the platform’s layout and features to your specific trading preferences, ensuring an efficient and personalised trading experience. 

The platform offers a range of charting tools and technical indicators, allowing traders to analyse market trends and make informed decisions.

When using the web-based platform you’ll benefit from lightning-fast order execution. You can also execute using a wide range of order types, including market orders, limit orders, stop orders, and conditional orders.

If you’re an experienced trader, the platform offers advanced order routing options, allowing you to optimise order execution for the best possible prices.

Desktop trading platform

If you prefer the power and flexibility of a desktop application, Interactive Brokers offers a sophisticated desktop trading platform. This platform is designed to meet the demands of active traders and institutional investors, providing a suite of trading tools and advanced features.

There are lots of features available on the desktop platform including powerful order management capabilities. You can easily create and manage complex order strategies, including algorithmic orders, conditional orders, and basket orders. There are also several other tools and order types letting you execute with precision.

Key features

Portfolio management tools

When you use the Interactive Brokers trading platform you’ll gain access to portfolio management tools which provide real time insights into your investment performance. You can track your portfolio performance, view detailed holdings information, and receive notifications about important events related to your investments. 

User-friendly interface

The Interactive Brokers trading platform is very user-friendly. Designed with intuitiveness in mind, it is accessible to all levels of trading experience. The platform has clear navigation tools so you can easily find what you’re looking for. It also uses easy-to-understand terminology allowing retail traders to quickly grasp the functionalities of the platform. 

Customisable trading interface

Interactive Brokers’ trading platforms offer customisable interfaces, allowing you to tailor your workspace to your specific preferences. This flexibility ensures an efficient and personalised trading experience, allowing you to focus on your strategies and execute trades with ease.

Real-time market data and news

Interactive Brokers provides real-time market data, including streaming quotes, charts, and news, giving retail traders the ability to make informed decisions based on up-to-date information. This real-time access to market insights lets you stay ahead of market trends and respond promptly to market movements.

Safety & reliability
4.7

Is Interactive Brokers safe?

Interactive Brokers is a safe broker to use. It is a well-established and reputable broker firm that has been in business for many decades. It has multiple tier-1 financial regulators including the U.S. Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and the Financial Conduct Authority (FCA). 

Users’ assets are protected using multi-layered security features including: 

  • Segregated client accounts. Client funds are held in segregated accounts with custodial banks, ensuring that they are never mixed with Interactive Brokers’ own funds.
  • SIPC protection: U.S. clients are protected by the Securities Investor Protection Corporation (SIPC), which provides up to $500,000 in coverage for securities accounts and up to $250,000 in cash claims for cash accounts.
  • Two-factor authentication (2FA): 2FA adds an extra layer of security to client accounts by requiring users to enter a code from their mobile phone in addition to their password when logging in.

Is Interactive Brokers regulated?

Yes, Interactive Brokers holds multiple regulatory licences from some of the world’s leading authorities. Here’s a closer look. 

Region Interactive Brokers regulators Plus500 regulators TastyTrade regulators
Africa FSAS FSA
Asia FCA, SFC, MAS
Australasia ASIC ASIC, FMA
Europe FCA FCA, CySEC
International
North America SEC, FINRA
South America CNV, CVM
View more > Interactive Brokers > Plus500 > TastyTrade >

Interactive Brokers customer support review

Interactive Brokers offers comprehensive customer support to its users through a variety of channels. The support options include:

Support type Interactive Brokers customer support Plus500 customer support TastyTrade customer support
Help Centre/FAQs Yes Yes
Email Yes Yes
Live chat Yes Yes
WhatsApp No Yes
Telephone Yes No
View more > Interactive Brokers > Plus500 > TastyTrade >

What are the risks of using Interactive Brokers?

The main risk of using Interactive Brokers is losing money, however, this is largely down to your ability as a trader, as opposed to the broker itself. Here’s a few more risks to consider before using Interactive Brokers. 

  • Market volatility. As with any type of investing, trading through Interactive Brokers carries the inherent risk of market volatility and potential losses. The value of investments can fluctuate significantly due to various factors. You should carefully consider their risk tolerance and investment objectives before making any trading decisions.
  • Trading platform risk. While sophisticated and powerful, the IBKR trading platforms are complex systems that can be susceptible to technical glitches or software bugs. These issues could potentially disrupt trading activity, lead to false order executions, or cause financial losses. You should regularly update your software and monitor system performance.
  • Cybersecurity. IBKR employs advanced security measures to protect client data, however, there is always a risk of cyber breaches or unauthorised access. You should take precautions to safeguard your account information, such as using strong passwords and enabling two-factor authentications.

Research & analysis tools
4.8

What trading tools are on offer?

IBKR offers a wide range of diverse trading tools and there is something for everyone. In addition to cutting-edge charting capabilities, there is a dedicated research panel where you can design custom algos and more. 

Trading tool Interactive Brokers tools Plus500 tools TastyTrade tools
Charts Yes Yes
News feeds Yes Yes
Analyst recommendations Yes Yes
Fundamental analysis Yes Yes
Financial calendar Yes Yes
MetaTrader integration No No
View more > Interactive Brokers > Plus500 > TastyTrade >

Risk Navigator SM

As its name suggests, the Risk Navigator SM is a risk management tool that helps you identify, quantify, and manage risk while trading. The tool has several in-built features including portfolio risk analysis, stress testing, and margin management. 

PortfolioAnalyst®

PortfolioAnalyst® is a portfolio management tool that helps you track, analyse, and optimise your portfolio. The tool provides performance tracking, asset allocation analysis, and benchmark comparison. This comprehensive tool helps you make informed decisions about your asset allocation and portfolio diversification.

IB TWS API

The Interactive Brokers Trader Workstation (TWS) API is a powerful programming interface that allows you to automate your trading strategies. The API provides order execution, real-time market data access, and backtesting capabilities. This tool lets you develop and execute complex trading strategies with greater efficiency and precision.

Education & learning resources
4.6

What educational resources are on offer?

The Interactive Brokers website has a vast range of educational material available making it easy for beginners to learn new skills and experienced traders to brush up on their techniques. There are beginner-friendly guides for all of the assets it has available so you’ll be able to learn at your own pace for markets you’re new to investing. 

Educational resource Interactive Brokers resources Plus500 resources TastyTrade resources
Demo/virtual account Yes Yes
Video tutorials/webinars Yes Yes
Walkthrough guides Yes Yes
Copy trading No No
Trading academy Yes Yes
View more > Interactive Brokers > Plus500 > TastyTrade >

Interactive Brokers Academy

The academy is an online learning platform designed to help traders of all experience levels. The Interactive Brokers Academy offers a wealth of educational resources, catering to every stage of your trading journey. From investment fundamentals and technical analysis to options trading, the academy provides a structured learning environment to improve your trading skills and knowledge. 

Interactive Brokers Trader Workstation (TWS) helps guide

The TWS help guide serves as a reference guide providing detailed information on every aspect of the platform’s functionalities. Organised by topic and with easy-to-follow instructions, screenshots, and videos, the guide ensures a seamless learning experience. You can learn about order placement and management across various asset classes and more. 

Interactive Brokers Interactive Blog

The IBKR blog is regularly updated with articles written by experienced traders and analysts. The blog is a treasure trove of knowledge, catering to a wide range of trading interests. You’ll find in-depth market analysis, trading strategies, risk management practices advice, and the latest industry trends. 

Interactive Brokers Webinars and Seminars

Led by industry experts who share their knowledge and insights the Interactive Brokers webinars and seminars are an excellent feature for all types of investors. These interactive events provide an opportunity to learn from experienced professionals, gain valuable perspectives from diverse areas of trading, participate in live Q&A sessions and exchange ideas, and connect with fellow traders.

Interactive Brokers video review

Interactive Brokers customer reviews

IBKR has an excellent reputation and its online customer reviews back that up. On average it boasts a rating of between 3.8 and 5 stars, and the Interactive Brokers app rates highly among the community as well. Here are its scores from several leading review sites.

Interactive Brokers reviewsReview rating
Trustpilot3.8
Google Play store3.8
App Store5

Our verdict

Interactive Brokers is a top rated trading platform that has a long history of providing users with an excellent environment for investing. In this Interactive Brokers review we’ve investigated all of the features it has to offer and compared to similar platforms, it comes out on top in most. 

One area where IBKR is lacking is cryptocurrency. With only a handful of tokens available, if you’re a crypto trader, it is probably best to look elsewhere. However, if you’re interested in legacy markets, then Interactive Brokers is certainly worth considering. Not only will you pay some of the lowest fees in the indsutry, you will also be able to access tens of thousands of assets. 

The trading interface may appear to be complex when compared to more user-friendly options like MetaTrader 4 or TradingView, however during our time testing the platform, we were able to quickly get to grips with the software and could easily find what we were looking for. If you’re a beginner just starting out, or an experienced trader looking to broaden your arsenal, Interactive Brokers is one of the best trading platforms around. 

Who is Interactive Brokers suitable for?

IBKR is suitable for all levels of traders, although experienced users will find it easier to use the platform. Many of its features are designed for investors who have been involved in markets for a long time, but that’s not to say beginners won’t find the platform useful. 

During our IBKR review, we tested the features of Interactive Brokers with several experienced traders and several that were new, and both sets found it easy to navigate and use. 

Is Interactive Brokers good for beginners?

Yes, however, there are probably better options available such as eToro that are more suitable for beginners. Many of IBKR’s features are better suited for experienced traders, although, beginners could still make use of some such as the educational content, which is excellent. 

Visit IBKR & Create Account
Interactive Brokers (U.K.) Limited is authorised and regulated by the Financial Conduct Authority. FCA Register Entry Number 208159. Products are only covered by the UK FSCS in limited circumstances.

Our methodology

Helping people make better financial decisions is at the heart of our mission at Invezz. 

We test each broker to provide clear, accessible guidance on the service it offers and how it compares to the 63+ other trading platforms we review. Testing is carried out by our panel of industry experts, analysts, and active traders who sign up to the platform, conduct research, and score the service.

To supplement our practical testing and experience, we research the service to gather any further relevant information and provide context to help you decide whether the broker is right for your investing needs. We read online customer reviews, app reviews on the Play Store and App Store, and conduct user surveys to get feedback from real people about what works, and what doesn’t.

The trading platform is awarded a final score based on 130+ data points across 8 ranking categories: cost, reliability, user experience, deposit & withdrawals, investing options, range of products/markets, research & analysis tools, and the availability of educational & learning resources.

We work closely with the individual brand to ensure all factual information displayed here is accurate. All data is then fact-checked by an independent reviewer. You can learn more about our expert panel and how we test, rate, and review platforms in our review process

FAQs

Who owns Interactive Brokers?
How does Interactive Brokers make money?
Does Interactive Brokers offer CFD trading?
How do I delete my Interactive Brokers account?


Sources & references
Risk disclaimer
Prash Raval
Financial Writer
Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.

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