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Interactive Brokers Review

(4 out of 5 stars from 587 Reviews)
Phone+81 (0)3-4588-9700
Minimum DepositUS$0
Last Update03/05/2022

A lot of online trading platforms and brokers provide their top-notch services all over the world. So, the competition in the online brokerage world is high and Interactive Brokers is one of the best platforms.

However, knowing every aspect of Interactive Brokers is still important for you before you make your decision. So, in this Interactive Brokers review, we will discuss everything that you need to know about it.

Other Brokers Like Interactive Brokers in Singapore

Overview of Interactive Brokers

Interactive Brokers or IBKR is an American financial services company that is currently providing its brokerage services in several countries around the world. The reason for it becoming very successful is that it comes with a long list of trading options and a long list of regulations as well.

Another reason worth mentioning here is that it has been there since 1987 making it among the oldest brokerage platforms available today. Good trading options and reliability is not the only thing that Interactive Brokers provides. It also focuses on a good list of features and benefits which make it valuable for its users. Here we will try to cover all of them in this Interactive Brokers review.

Interactive Brokers review

How to get started with Interactive Brokers?

It is the user experience that matters the most when we talk about the platforms that hold such huge names in the whole world. When it is to Interactive Brokers, the process to start trading and investing is pretty straightforward. There are three main phases that you have to go through.

Creating account and verification

Like many other platforms, you will start with the signup process where you will be creating a username and a password while providing your email and all the basic information. When you do this, you have to wait for Interactive Brokers to verify your email address.

Completing the information

Once the verification part is complete you need to fill the application with all the necessary information. The things that you may need to include are income, residency, and tax information that are mainly for verification purposes. Make sure to provide the right details in all the necessary fields.

Funding your account

When the application is complete you can start funding your account. Funding is the only thing left as afterward you can start trading. The good part is that you can also go for different funding options as well as different currencies for funding your account at Interactive Brokers.

The process may not be instant in your case, so it is important to deal with the situation patiently.

What are the benefits of going with Interactive Brokers?

IBKR brings a good list of benefits for its users which makes it a valuable option. So, here are some of those benefits.

Competitive pricing in the world

Interactive Brokers comes with some of the most competitive pricing schemes. There are many different terms different platforms use including trading fees, commissions, and whatnot. When we talk about Interactive Brokers, all of that is set very competitively. So, it is very hard to beat Interactive Brokers in terms of trading costs.

One-stop trading platform

Another amazing thing about Interactive Brokers is that it is your one-stop trading platform. It means that you get a wide range of trading options here including the following:

  • Options
  • Stocks
  • Bonds
  • Funds
  • Futures
  • Currencies and more

With all of these trading options, you do not have to go anywhere else to trade so it is the only platform that you will ever need.

Easy to meet requirements

Sometimes what stops people from starting to trade is that they select a platform with a lot of requirements they cannot meet. With Interactive Brokers this will never be a problem. It is because there are not a lot of requirements that you need to meet. There are no concepts of things like minimum balance requirements at Interactive Brokers. So, it becomes a very easy platform to start with.

Valuable resources

Everyone does not have the same level of trading and investing knowledge and Interactive Brokers care for this fact. So, it provides tools and material that can take your trading experience to the next level. The good part is that the information and functionalities provided here are not meant for beginners only. So, experienced traders can also amazingly benefit from this.

These and many other benefits may make it a very fascinating platform to start with. However, if there is something you may not like is that there are no bonuses. Most of the trading platforms provide signup bonuses and such offers but there is no such thing at Interactive Brokers.

Features of Interactive Brokers that make it unique

The last thing worth adding to the Interactive Brokers review is the set of features it brings. While many features are standard, here we will be elaborating on the features that are unique at Interactive Brokers.

Different pricing structures

When it is to the pricing structures at Interactive Brokers, there are 2 main options.

  • Tiered prices are the prices where the fees or commission depends on your trading volume.
  • The fixed price charges you a fixed rate that will include all the regulatory and exchange fees for a trade.

This makes Interactive Brokers a unique choice for many users. It is important to note that depending on trades and stocks, the prices and minimum options can change.

Different account choices

When you are setting up your account or portfolio at Interactive Brokers you get to choose between Lite and Pro options. The main differences here are:

  • Commissions
  • EFTs
  • Minimum requirements
  • Inactivity fees

However, you also need to meet some requirements to go for either of these choices. You can find all the requirements and important things when opening an account.

Final Verdict

IBKR is not only among the best platforms in the USA, but it is also one of the top trading platforms that you can go for in the whole world. In this Interactive Brokers Review, we tried to cover every aspect of Interactive Brokers so that you can have a better experience when it is the selected time. The best thing that you can do is to do your comparison with all the alternatives available so that you have a better idea of what value IBKR is bringing for you.

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