Interactive Brokers Review

Company Overview: Interactive Brokers

Headquartered in Connecticut, Interactive Brokers Group is an online stock broker with consolidated equity capital of more than $6 billion. Its mission remains unchanged: “create technology to provide liquidity on better terms. Compete on price, speed, size, diversity of global products and advanced trading tools.” Interactive Brokers conducts its broker/dealer business on over 120 market destinations worldwide. Interactive Brokers Group and its affiliates execute over 800,000 trades per day. Interactive Brokers is a popular online stock broker for investors who like to trade or invest in stocks and options.

Interactive Brokers Overview

Interactive Brokers offers attractive rates and terms compared with other top online stock brokers:

Account Minimum: $10,000 ($3,000 if age 25 or younger; $5,000 for IRAs)

Commission: $0.005 per share (minimum is $1 per trade; maximum is 0.5% of transaction value)

Options: $0.70 per contract

Real-Time Data: Yes

Screening Tools: Yes

Research: Yes

Charts: Yes

Able To Trade: stocks, bonds, mutual funds, ETFs, options, futures and forex

Inactivity Fee: $10 (if less than $100,000 account balance)

IRA Quarterly Fee: $7.50 / quarter

How Interactive Brokers Compares: Key Benefits Of Interactive Brokers

Here are some of the reasons that investors love Interactive Brokers:

  • Low Commissions: Interactive Brokers has relatively low commissions for active traders who trade high volume amounts of shares.
  • Commission-Free: Interactive Brokers offers more than 4,300 commission-free mutual funds and 45+ commission-free ETFs.
  • Real-Time: Interactive Brokers offers real-time quotes and data.
  • Other Features: Interactive Brokers offers free research and data, free investment screening tools and a customizable dashboard.
  • Customer Support: Interactive Brokers offers customer support Monday-Friday and Sunday.

Bottom Line: Is Interactive Brokers right for you?

Interactive Brokers has a top reputation as an online stock broker. Its excellent trading platform, real-time data, free research and screening tools makes Interactive Brokers a solid investment platform. If you are looking for a low commission online stock broker and are an active trader of stocks or options, in particular, then Interactive Broker scan be a reliable match. Interactive Brokers has one of the lowest commissions and highest quality investment and trading platforms.

Interactive Brokers has a top-notch trading platform called Trader Workstation. You can also trade on Interactive Brokers’s mobile app, which is extensive.

Interactive Brokers offers more than 4,300 commission-free mutual funds and 45+ commission-free ETFs, making it one of the best commission-free online stock broker platforms.

The cons of Interactive Brokers are that it requires a high account minimum. However, if you are an active trader and have a high account balance (greater than $100,000), then Interactive Brokers can save you money in the long-term with high volume discounts on online stock and options trading.

Next Steps: How To Apply To Interactive Brokers

You can open a Interactive Brokers account online within a few minutes, and the process is simple.


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Account Minimum:$0

Details

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  • Customer support: M-F 8 a.m. – 8 p.m. EST; email 24/7

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Account Minimum:$0

Details

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  • Customer support: 7 days a week
  • Unlimited access to licensed financial advisors

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Account Minimum:$500

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs from 11 asset classes
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting
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Account Minimum:$0

Details

  • Supports personal brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
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  • Free automatic portfolio rebalancing
  • Customer service: M-F 11 a.m. – 7 p.m. eastern

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Account Minimum:$5,000

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs from 20 asset classes
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting for accounts with a minimum $50,000 balance
  • Free access to licensed financial advisors
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Overview

Account Minimum:$50,000

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, rollover IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolios are individualized and incorporate Vanguard index funds and ETFs, if needed
  • Free automatic portfolio rebalancing
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  • Access to licensed financial advisors
  • 24/7 customer support

Overview

Account Minimum:$100,000

Details

  • Supports personal brokerage accounts, joint brokerage accounts, traditional IRAs, Roth IRAs, SEP IRAs and trusts
  • Portfolio of low-cost, diversified ETFs
  • Free automatic portfolio rebalancing
  • Free tax loss harvesting
  • Access to financial advisors

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Interactive Brokers Review
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