Interactive Brokers Review

Our Verdict

Interactive Brokers is the best platform for serious, active traders.

GetASearch Score: 8.5/10

Rating: 4.6/5 (1543 reviews)

Score Breakdown

What is Interactive Brokers?

Interactive Brokers (IBKR) is the platform of choice for professional and institutional-grade traders, offering access to 150+ markets across 34 countries from a single unified account. Founded in 1978 by Thomas Peterffy, IBKR has grown into one of the largest electronic brokerage firms globally, executing over 3 million trades per day and holding more than $400 billion in client assets. The platform supports virtually every asset class: stocks, options, futures, forex, bonds, funds, metals, and even cryptocurrencies. What sets IBKR apart is its pricing - offering some of the lowest margin rates in the industry (as low as 5.33% for USD) and commission rates that active traders find unbeatable. The tiered pricing model rewards high-volume traders with progressively lower costs. Trader Workstation (TWS), the flagship desktop platform, is a powerhouse for professional trading. It features advanced order types (over 100), algorithmic trading tools, real-time risk management, portfolio margining, and customizable scanners that can filter thousands of securities by technical and fundamental criteria. The IBKR mobile app brings much of this functionality to smartphones, while the web portal offers a simplified experience for less frequent traders. IBKR is particularly strong for international investing, offering access to exchanges in North America, Europe, Asia, and Australia with multi-currency accounts. Investors can hold and trade in 27 different currencies, convert between them at interbank rates, and earn interest on idle cash balances. The Securities Lending program allows clients to earn additional income by lending their shares. Research tools include Fundamentals Explorer, analyst ratings, options analytics, and free access to news from Reuters, Dow Jones, and other providers. The IBKR campus provides educational content for all levels, from beginner courses to advanced webinars on derivatives strategies. With regulatory oversight from the SEC, FINRA, and FCA, plus SIPC protection, Interactive Brokers delivers institutional-quality infrastructure at retail-accessible prices.

Integrations: TradingView, Bloomberg Terminal, MetaTrader

How We Tested Interactive Brokers

We traded US stocks, international stocks, options, futures, and forex on IBKR Pro over 8 weeks. We compared execution quality against Fidelity, Schwab, and Robinhood using identical order types and sizes. We benchmarked margin rates, evaluated TWS and Client Portal workflows, tested the API with Python scripts, and measured customer support response times across phone, chat, and email channels.

What Is Interactive Brokers?

Interactive Brokers (IBKR) is the most sophisticated online brokerage available to individual investors, founded in 1978 by Thomas Peterffy and publicly traded on NASDAQ (IBKR). The platform serves over 2.5 million accounts across 200+ countries and markets, offering access to stocks, options, futures, forex, bonds, mutual funds, ETFs, and cryptocurrencies across 150+ global exchanges. IBKR is the broker of choice for professional traders, institutions, and sophisticated individual investors who demand the lowest costs, widest market access, and most powerful trading tools.

Key Features and Capabilities

**Global Market Access:** Trade on 150+ exchanges in 33 countries, in 27 currencies. No other retail broker comes close to this breadth. **Trader Workstation (TWS):** Professional-grade desktop trading platform with real-time streaming data, 100+ order types, algorithmic trading, portfolio analytics, and risk management tools. **IBKR Mobile:** Full-featured mobile app with trading, watchlists, scanners, options chains, and account management. **SmartRouting:** Proprietary order routing technology that finds the best available price across exchanges, providing genuine best execution. **Options and Futures:** The most comprehensive derivatives platform available to retail traders. Supports complex multi-leg strategies, portfolio margining, and futures options. **Forex:** Trade 100+ currency pairs with institutional-level spreads starting at 0.1 pips. **IBKR GlobalAnalyst:** Tool for comparing valuations across global markets. **Impact Dashboard:** ESG-focused investing tools. **API Access:** Full API for automated trading strategies in Python, Java, C++, and other languages.

Pricing and Fee Structure

Interactive Brokers offers two pricing plans: **IBKR Lite (Free):** - $0 commissions on US stocks and ETFs - Uses payment for order flow (PFOF) - 4.5% interest on cash balances - Good for passive investors **IBKR Pro (Active Traders):** - US Stocks: $0.005/share ($1 minimum) with direct market access - Options: $0.65/contract ($1 minimum) - Futures: $0.85/contract - Forex: 0.08-0.20 basis points - No PFOF — direct exchange routing for best execution **Margin Rates (Key Differentiator):** - IBKR Pro: 5.83%-6.83% (benchmark + 0.75-1.50%) - This is the lowest margin rate among all retail brokers - Comparison: Robinhood 12%, Fidelity 8.3%, Schwab 9.3% **Interest on Cash:** - IBKR Pro: Up to 4.83% on USD balances (benchmark minus 0.5%) - IBKR Lite: Up to 4.5% For active traders using margin, IBKR's cost advantage over competitors is substantial — saving thousands annually on margin interest alone.

Interface and Learning Curve

Interactive Brokers has the steepest learning curve of any retail brokerage: **Trader Workstation (TWS):** Extremely powerful but overwhelming for beginners. The desktop platform looks like a Bloomberg terminal and requires significant time to configure and learn. **Client Portal:** Web-based interface that is simpler than TWS but still more complex than Robinhood or Fidelity. Adequate for basic trading and account management. **IBKR Mobile:** Surprisingly good mobile app that balances power and usability. The best entry point for new IBKR users. **Account Opening:** The most complex account application process of any retail broker. Requires detailed financial information and can take 1-3 days for approval. **IBKR Campus:** Comprehensive educational platform with courses, webinars, and trading simulations. Essential for new users. The learning curve is IBKR's biggest weakness. Users migrating from Robinhood or Fidelity should expect 1-2 weeks of adjustment. However, the power and flexibility available once you learn the platform is unmatched.

Security and Financial Strength

Interactive Brokers is one of the most financially stable brokerages in the world: - **$14.4B+ in equity capital** (as of 2025) — more than most competitors combined - **SIPC Member:** $500,000 in securities protection - **Excess SIPC Insurance:** Additional protection through Lloyd's of London for up to $30M per account - **Regulated in 10+ jurisdictions:** SEC, FINRA, FCA, ASIC, MAS, and others - **No Significant Security Incidents:** Clean operational track record - **Segregated Client Accounts:** Customer funds are fully segregated from company assets - **Daily Risk Monitoring:** Real-time margin calculations and position risk assessment IBKR's financial strength and multi-jurisdiction regulation make it one of the safest brokers in the world.

Who Interactive Brokers Is Best For

**Ideal Users:** - Active traders who need the lowest commissions and margin rates - International investors who want access to 150+ global exchanges - Options and futures traders who need advanced order types and strategies - Algorithmic traders who want API access and direct market routing - High-net-worth investors who want the highest interest on cash balances - Professional traders and institutions **Not Ideal For:** - Complete beginners who want the simplest possible experience (use Fidelity or Robinhood) - Passive buy-and-hold investors who only trade US stocks (IBKR Lite works but Fidelity is simpler) - Users who want a beautiful, modern mobile app (IBKR Mobile is functional but dated) - Investors who want integrated banking, credit cards, or financial planning (IBKR is pure brokerage)

Final Verdict

Interactive Brokers is the best brokerage for serious traders and global investors, period. Its combination of the lowest margin rates, widest market access, professional tools, and strongest financial position makes it the obvious choice for anyone who has outgrown Robinhood or Fidelity. The learning curve is real, but the payoff — in lower costs, better execution, and more capability — is worth the investment. IBKR Pro for active traders, IBKR Lite for passive investors who want low costs without the complexity.

Interactive Brokers Features

Key Specifications

Interactive Brokers Pricing

• IBKR Lite: $0 US stocks
• IBKR Pro: $0.005/share

Best For

• Active professional traders
• Global investors

Not Ideal For

• Investing beginners
• Casual long-term investors

Final Verdict

Interactive Brokers is the best platform for serious, active traders.

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Frequently Asked Questions