Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
Interactive Brokers Pros & Cons
- extensive and free educational resources through the IBKR Campus;
- access to160markets in 36 countries and territories;
- trading in stocks, options, futures, currencies, bonds, funds and more from a single unified platform.
- Support service does not work on Saturday;
TU Expert Verdict
Interactive Brokers demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
Interactive Brokers User Reviews
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5-star
21%
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4-star
33%
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3-star
45%
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2-star
2%
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1-star
0%
not found yet
After hitting a wall with my old "commission-free" broker, switching to Interactive Brokers felt like unlocking a professional toolkit. The cost savings are real and material to my bottom line; for instance, where I used to pay a $5.95 flat fee per trade, my options contracts now cost me about $0.65 to open and close. This super-efficient pricing makes a huge difference in my strategy of selling cash-secured puts on stocks like Ford. When I felt the US market was getting expensive, I didn't just have to sit on the sidelines. I was able to directly buy shares of Siemens on the German Deutsche Börse (XETRA) and allocate a portion of my portfolio to a Japanese ETF, all from a single account. Having access to these global markets has been crucial for diversification. And little perks like the free Morningstar reports save me hours of initial research—their $1.2 trillion estimated fair value for Apple, for example, was a great starting point for my own due diligence.
none
What stands out for me with Interactive Brokers is their mobile app. I use the IBKR Mobile app a lot when I’m not at my desk, and it offers pretty much the same experience as the desktop version. The ability to trade everything from stocks to options while on the go is a huge plus. It also has features for international trading, which makes it easy for me to handle trades across multiple markets. The app’s interface is straightforward and user-friendly, allowing me to monitor my portfolio, execute trades, and even access research tools seamlessly. While it might lack some advanced charting features, it’s still one of the most versatile apps I’ve used, especially for global traders like me
not suitable for a beginner
As far as my experience is concerned with Interactive Brokers, the thing I love most is the sheer variety of markets available. The GlobalTrader app lets me trade in over 90 different markets, which is super convenient for someone like me who likes to diversify. The interface might feel overwhelming at first, especially on Trader Workstation, but once you get the hang of it, it’s extremely powerful. I also appreciate the competitive pricing and order options that help keep my trading costs low.
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria9 /10The trading and non-trading commissions of Interactive Brokers have been analyzed and rated as having Low fees, with a fees score of 9/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- Withdrawal fee applies
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Is Interactive Brokers Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria10 /10Interactive Brokers has a safety score of 10/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Negative balance protection
- Regulated in the UK
- Track record over 48 years
- Strict requirements and extensive documentation to open an account
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Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.6.8 /10Interactive Brokers offers the following account options: Demo, Standard, ECN/Raw spread, Managed.
However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.
- Demo account
- Tight spread ECN account
- Standard account with balanced trading conditions
- Micro lots are not available
- No Swap Free account
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology6 /10Interactive Brokers received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria9 /10Interactive Brokers offers a wider selection of trading assets than the market average, with over 30000 tradable assets available, including 100 currency pairs.
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Trading Account Opening
We successfully registered an account with Interactive Brokers in 30 minutes. The KYC verification was completed within 3 business days. The minimum deposit amount at Interactive Brokers is $0.Score:We evaluated Trading Account Opening at Interactive Brokers by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.8 /10This is one of the most accessible and hassle-free onboarding procedures on the market.
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Trading platforms & tools
Score:This section evaluates the quality and variety of trading platforms offered by the broker. It considers supported platforms, core features, device compatibility, and the availability of tools for automation, analysis, and different trading styles. Learn the assessment criteria8 /10Interactive Brokers received a score of 8/10, indicating a strong offering in terms of trading platforms and tools. The broker provides broad access to popular platforms and supports a variety of features designed to enhance both manual and automated trading.
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Mobile Apps
Score:This section assesses the quality and functionality of the broker’s mobile trading apps. It takes into account app ratings, number of downloads, platform features such as two-factor authentication (2FA), mobile alerts, and technical indicators, ensuring traders can manage positions and monitor markets effectively from their smartphones. Learn the assessment criteria7.5 /10 -
Customer Support
Score:We evaluated Customer Support at Interactive Brokers by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria6.5 /10
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Interactive Brokers Video Guides
FAQs
How safe is Interactive Brokers in terms of regulation and investor protection?
Interactive Brokers has a safety score of 10/10 and is described as having a high security level, supported by multiple Tier-1 regulators such as the FCA (UK), ASIC, NFA, MAS, SEC, FINRA, CIRO, and the Central Bank of Ireland. Investor protection schemes mentioned include up to £85,000 under the UK FCA, CAD 1,000,000 under CIRO, up to €20,000 under the Central Bank of Ireland, and up to $500,000 for SIPA members under SEC oversight, and the broker also provides negative balance protection and mandatory KYC. The company was founded in 1978, indicating a long operational history, while some regulators listed do not have specific investor compensation funds noted in this section.
What do reviews say about Interactive Brokers’ commissions and fees?
According to this section, Interactive Brokers’ overall fee level is rated 9/10, with low forex trading fees, tight EUR/USD spreads, and no deposit or inactivity fees. For Standard accounts, EUR/USD spreads typically range from 0.2 to 0.8 pips and GBP/USD from 0.5 to 1.5 pips, while RAW/ECN accounts show an average EUR/USD spread of 0.2 pips and GBP/USD of 0.3 pips plus a $2 per lot commission. A withdrawal fee is indicated, but the exact amount is not specified in the review.
What types of trading accounts does Interactive Brokers offer and how are they reviewed?
Interactive Brokers provides Demo, Standard, ECN/Raw spread, and Managed accounts, but does not offer Cent, Micro, Swap Free, or VIP accounts, and this mix is rated with a safety score of 6.8/10. The broker is noted for a low minimum deposit, demo access, and tight-spread ECN accounts, while the absence of Cent and VIP accounts is highlighted as a disadvantage. Additional structures such as Individual, Joint, IRA, and UGMA/UTMA accounts, plus a paper trading account with simulated $1,000,000 equity, are also described in this section.
What feedback is available on the range of markets and tradable assets at Interactive Brokers?
This section states that Interactive Brokers offers over 30,000 tradable assets, including 100 currency pairs, and receives a markets and assets safety score of 9/10. Available instruments include stocks, commodity futures, cryptocurrencies, stock indices, options, bonds, ETFs, and managed accounts, while copy trading and PAMM investing are not supported. The review notes that this asset selection is wider than the market average but does not provide detailed user comments on specific instruments.
How do reviews describe the account opening process at Interactive Brokers?
The account opening process at Interactive Brokers is fully online, with a minimum deposit of $0, and is rated with a safety score of 8/10 in this section. Registration took 30 minutes and KYC verification 3 business days in the described test, and the review notes that approval may take several days depending on documentation. The steps include completing detailed personal and financial information, confirming registration by email, and then gaining access to funding, withdrawals, training materials, and support once the application is approved.
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