Interactive Brokers Review

Interactive Brokers is the largest electronic brokerage firm and leading forex broker in the U.S. IB is globally recognised as a leading financial company and provides clients with the ability to invest in an array of online traded products such as options, stocks, forex, futures, bonds, CFDs and funds from across the globe. The company is based in the United States, however it provides financial services for clients worldwide through their fully disclosed and non-disclosed brokering accounts as well as services in clearing for more than 200 brokers across the globe. IB have also expanded their offerings in Australia by introducing direct market access for Australian CFDs since 2008. With offices located in all major financial markets, IB has continually proven itself to be an industry leader in the online trading world. A review of the company has been provided below to outline what the company provides to their clients and who these offerings may be best suited to.

Since the company’s inception in 1993, Interactive Brokers has been recognised through numerous prestigious awards, some of which include:

  • 2016 Barron’s Awards:
  • Rated 4.5/5 for Best for Options Traders
  • Rated 4.2/5 for Lowest Cost
  • Rated 4.6/5 for Best Portfolio Analysis Reports
  • Rated 4.5/5 for Best Trading Experience and Technology
  • Rated 4.5/5 for Best for International Traders
  • Rated 4.5/5 for Best for Frequent Traders
  • Rated 4.4/5 for Range of Offerings
  • 2016 WSL Institutional Awards:
  • Winner Best Options Trading Platform – Broker
  • Winner Best Broker Dealer Futures
  • 2015 FX Week Awards: Best Retail FX Platform
  • 2015 WSL Institutional Awards: Winner Best Cross-Asset Trading Solution

Trading with Interactive Brokers

Interactive Brokers provides two trading platforms for their clients, one being a HTML-based platform which is the IB WebTrader, and the other being their downloadable application designed platform, the Trader Workstation (TWS). Features of the two platforms are as follows:

Trader Workstation

IB’s Trader Workstation allows users to access over 100 markets across the globe, with the ability to trade instruments such as options, stock, futures, bonds, forex and funds, all from a single account. The platform features a variety of resources for clients to utilise, some of which include:

  • Access to TWS Mosaic, which allows users to utilise tools such as charts, order management, watchlists, portfolio tools and more, all from a highly customisable workspace
  • Access to the most up-to-date news feeds from leading services
  • Access to real-time market data on specific exchanges across the world
  • Access event calendars
  • Some of the best analysis research from the most highly regarded providers
  • Ability to install IB’s real-time monitoring system so traders can view their accounts at any time
  • Access to highly advanced trading tools

The IB WebTrader

The IB WebTrader was specifically designed to provide traders with an un-cluttered, simple to use trading platform but also still contain all of the necessary advanced trading tools and features. This platform allows users to access over 100 markets from across the globe and the ability to trade instruments such as options, stocks, forex, futures, warrants, bonds and more, all from the one account. Further features of the IB WebTrader include:

  • Access to pre-defined trading strategies or the ability to develop your own so that spread orders can be completed quickly and efficiently
  • Access to an array of advanced trading tools to keep users updated with global market conditions
  • Ability to view the latest markets news and updates as well as contract-specific fundamentals
  • Highly customisable interface with the ability to add and remove tools and functions to suit your preferences and trading style
  • Access to a free Demo Account
Account Minimums Required
Type of Account Required Minimum Deposit
Individual Account USD$10,000
Broker Masters Account USD$10,000
Trading Group Masters Account USD$10,000
Individuals aged 25 years or younger USD$3,000
IRAs USD$5,000
Advisor and Broker Clients USD$5,000
Indian Residents Trading with an IB India Account INR deposits equivalent to USD$2,000
Indian Residents Trading with an IBLL-US Account USD$5,000

Interactive Brokers Summary

Interactive Brokers is a leading online trading company with over 23 years experience in providing their clients with the most advanced charting and market analysis tools on a highly sophisticated trading platform. IB continually strives to provide transparent prices with low financing rates and commissions using the most innovative trading technology. Clients are able to access the most advanced trading tools through their array of charting features and analysis instruments which delivers an increase in speed and execution of trades, access to and the diversity of global market places and many other beneficial advantages. It is important to note that IB has tailored their offerings to facilitate for active professional traders and therefore the features offered by the company would best suit these experienced investors.