Interactive Brokers
Published: Updated:
- Trust score
- 8/10
- Legal simplicity
- 1/10
- Min. deposit
- 0
- Trading platforms
- Payment systems
- Instruments
- Forex, Stocks, Options, Futures, Bonds, ETFs, Indices, Commodities, Metals
- Legal entity
- Interactive Brokers LLC
- Jurisdiction
- United States
- Fees
- Interactive Brokers charges commission on volume with tiered and fixed pricing, and spot forex trades against interbank quotes with a commission scaled to trade size and a stated minimum. Its cost structure is among the lowest available to retail clients, and financing rates on margin balances are published as a formula rather than a marked-up rate.
- Withdrawals
- One free withdrawal per calendar month is included on most account types, with subsequent transfers charged. Withdrawals go to a bank account in the client's own name and follow standard banking timelines.
Features
- Seminars and educational training
- Daily market analysis
- Low minimum deposit
- Managed (trust) accounts
- Islamic accounts
- Telephone trading
- MAM terminal
- Segregated client accounts
- ECN accounts
- Affiliate program
- Wide range of trading instruments
Pros
- US broker with over 40 years in the industry, founded in 1978
- Regulated by multiple top-tier authorities, including the CFTC, FCA, and ASIC
- Extensive range of tradable assets: currencies, stocks, futures, options, and ETFs
Cons
- Account opening and verification is a lengthy, complex process
Interactive Brokers is a US brokerage founded in 1978, serving close to a million clients worldwide. Regional entities are regulated by the CFTC, FCA, ASIC, IIROC, MAS, SFC, and JFSA, and the broker gives access to forex, stocks, options, futures, ETFs, and more. There is no minimum deposit, but account opening and the Trader Workstation platform suit experienced traders better than beginners.
US brokerage regulated by the CFTC, FCA, ASIC, and other top-tier authorities, offering forex, stocks, options, futures, and ETFs with no minimum deposit.
Company Background
Interactive Brokers is a US brokerage founded in 1978, serving close to a million clients worldwide with access to a wide range of tradable assets.
Regulation
Interactive Brokers operates through regional entities, each licensed locally:
- Interactive Brokers US — Commodity Futures Trading Commission (CFTC)
- Interactive Brokers UK — Financial Conduct Authority (FCA)
- Interactive Brokers AU — Australian Securities and Investments Commission (ASIC)
- Interactive Brokers CA — Investment Industry Regulatory Authority of Canada (IIROC)
- Interactive Brokers SG — Monetary Authority of Singapore (MAS)
- Interactive Brokers HK — Securities and Futures Commission (SFC)
- Interactive Brokers JP — Financial Services Agency of Japan (JFSA)
Trading Instruments and Leverage
The broker covers currency pairs, cryptocurrencies, commodities, and stocks, plus investment products such as mutual funds, ETFs, options, futures, and bonds. Maximum forex leverage is 1:50 on selected instruments.
Trading Platforms
Interactive Brokers does not offer MT4 or MT5. Its own platforms are:
- Web Platform — for placing trades and basic analysis
- Trader Workstation (TWS) — a full desktop platform for advanced traders, available on Mac, Windows, and Linux
- FXTrader — an interface built specifically for forex trading
- IBKR Mobile and API — mobile access and integration with third-party platforms
A demo account and automated trading are both supported.
Account Types and Pricing
A tiered account lowers commissions as trading volume rises, while a fixed account charges a flat commission regardless of volume. US stocks can be traded commission-free under certain conditions; forex, fixed income, and mutual funds are commission-based. Interactive Brokers does not publish detailed forex spreads, though the EURUSD spread has been quoted around 0.6 pips.
Deposits and Account Features
There is no minimum deposit, and the main funding method is international bank transfer. Base currencies include USD, EUR, GBP, AUD, and CAD. An inactivity fee applies, but there is no withdrawal fee. Islamic (swap-free) accounts and segregated client funds are available; PAMM accounts, VPS, deposit bonuses, and trading contests are not offered. Client support runs 24/5.
Who Interactive Brokers Suits
Account opening and verification take longer than at most retail forex brokers, and Trader Workstation has a steep learning curve. Interactive Brokers fits experienced traders with larger capital who want a wide range of asset classes rather than a simple forex-only setup.
Trading conditions
Interactive Brokers is a multi-asset broker rather than a forex specialist, and its forex offering sits inside a platform that also trades equities, options, futures and bonds on more than a hundred market centres. For a trader who wants currency exposure alongside other assets in one margin account, there is little competition at this cost level.
The trade-off is complexity. Trader Workstation is built for professional use and presents a learning curve that MetaTrader does not, and the account structure, margin calculations and market data subscriptions all require attention. Forex leverage is modest by retail standards and set by regulation in each jurisdiction.
The firm is publicly listed, publishes audited accounts, and reports client equity and daily trade volumes monthly — a level of financial disclosure no offshore broker matches.
Verification
Account opening is closer to a brokerage account application than a forex signup: identity documents, proof of address, employment and financial information, and a trading experience assessment that determines which products are enabled. Options and futures permissions are granted separately based on stated experience.
Approval typically takes one to several business days. Market data for exchange-traded products requires separate subscriptions, and forgetting to enable them is the most common source of confusion for new accounts.
