Interactive Brokers Review 2025

Pros

• IBKR, primarily designed for skilled traders, has expanded its appeal recently by eliminating its initial $10,000 deposit requirement.
• Interactive Brokers was named Best US Broker for 2025 by DayTrading.com for its dedication to US traders, ultra-low margin rates, and affordable global market access.
• There's a large selection of free or paid research subscriptions available to all traders. If you subscribe to Toggle AI, you will also receive commission refunds from IBKR.
• IBKR provides a cost-effective platform for traders by offering low fees, narrow spreads, and clear pricing.
• The TWS platform is designed for intermediate to advanced traders. It includes over 100 order types and a dependable real-time market data feed that rarely experiences downtime.

Cons

• IBKR offers many research tools. However, the tools are not uniformly distributed across trading platforms and the web-based 'Account Management' page, causing confusion for the users.
• Customer service may take time to respond, and there may be delays in fixing problems based on tests. It could be difficult to reach the customer service promptly.
• TWS's platform may be difficult for beginners to grasp because of its complexity. Plus500's web platform, on the other hand, is more appropriate for those new to trading.
• Only one active session per account is allowed, which means you can't run the desktop version and mobile app at the same time. This can sometimes lead to a frustrating trading experience.

Regulation & Trust

Interactive Brokers has built a solid reputation over more than 40 years, and knowing that over two million clients trust the platform gives more confidence in its reliability.

It’s authorized by top-tier regulators, such as the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the Financial Industry Regulatory Authority (FINRA) in the US, and the UK’s Financial Conduct Authority (FCA).

Plus, since it’s a Nasdaq-listed company, it goes through regular audits, so you know the numbers are out there for everyone to see.

But it’s not all roses. For instance, we were concerned to discover that in 2023, the CFTC ordered Interactive Brokers to pay $20 million for record keeping and supervision failures related to the widespread use of unapproved communication methods.

Accounts & Banking

Trading Accounts

The Individual Account seems the most straightforward option if you’re trading alone. It gives you access to various assets, like stocks, options, and futures.

If you wanted to trade with a partner or family member, the Joint Account would make that easy, letting you manage trades together.

There is also the Corporate Account, which is available for businesses. It requires a bit more documentation for legal purposes.

If you are in the US and thinking about retirement, you may consider an IRA Account since it offers tax advantages, though it does follow some strict IRS rules.

There are also options for more specific needs. The Trust Account allows a trustee to manage assets on behalf of beneficiaries, while the Advisor Account is set up for registered advisors who manage multiple portfolios.

Although initially daunting, knowing these available choices makes it easier to pick the correct account when you’re ready to proceed with your trading plans.

When I first tried out Interactive Brokers, I started with a free, non-expiring demo account, which gave me $1,000,000 in virtual funds to practice with.

It’s an excellent way to test different strategies without risking real money, though news feeds sometimes have a 15-minute delay.

Deposits & Withdrawals

Deposits and withdrawals are limited to bank wire or Wise.

I find it frustrating that I can’t use a debit card or e-wallet like PayPal, and the bank transfer method sometimes results in extra fees.

Since I’m not in the US, I cannot access the additional options available to US traders, like ACH transfers, checks, or direct rollovers for IRA accounts.

Withdrawals usually take around two business days. You must also remember the daily withdrawal limit of $50,000 and a five-day cap of $100,000.

It’s good that the first withdrawal each month is free, but any additional ones cost about $10, depending on where you are.

There’s a $4 fee if you ever need a USD check payment. Plus, if you receive funds in a different currency, you pay a conversion fee, though at least the rates match forex market prices.

While you can choose from an industry-beating selection of 27 base currencies, your options depend on your account type.

Overall, the funding process is less intuitive than with brokers like eToro or IC Markets, where the process feels smoother and more convenient.

Assets & Markets

Interactive Brokers offers incredible market access.

You can choose from a wide range of assets not available at most other brokers, such as ETFs, bonds, warrants, and structured products, which gives you plenty of options to diversify your portfolio.

While the forex and CFD offerings don’t always match what other brokers like BlackBull Markets provide, availability depends on your location.

What excites most is the access to around 150 exchanges worldwide.

I also like exploring Interactive Advisors, which combines robo-advisory features with social trading—it’s a helpful tool when I want to diversify without micromanaging everything myself.

Another feature to appreciate is overnight trading hours. You can access over 10,000 US stocks and ETFs almost any time during the week, which fits well with my schedule.

Plus, trading fractional shares in both the US and European markets makes it much easier to trade, even if you have a smaller balance.

Interactive Brokers is also now the first international broker to let foreign retail traders access the Saudi Stock Exchange, known as Tadawul.

This move gives you direct access to the Middle East’s largest exchange, which is a great opportunity if you decide to explore new markets.

Fees & Costs

The low fees are a big reason individual traders and larger institutions stick with Interactive Brokers.

You pay a fixed commission rate of $0.005 per share, with a $1.00 minimum, whether you’re trading stocks, futures, options, forex, bonds, or CFDs.

Since I’m based in Europe, I’ve noticed the commission structure is slightly different.

For trades under 6,000 EUR or GBP, I pay a flat 3 EUR/GBP. If I go beyond that, the rate drops to 0.005%, which makes larger trades more cost-effective.

Stock and ETF trading fees align and adjust based on volume, either as a per-share amount or a percentage of the total trade.

One thing that caught me off guard during testing is the exposure fee for high-risk margin accounts.

Interactive Brokers calculates this fee using its algorithm, which varies depending on your trading activity and the risk in your positions.

On the plus side, you can earn interest on uninvested cash, which is a nice bonus.

If you keep your net asset value above $10,000, you can earn rates up to 3.83% on your USD balance. The best rates come when your account hits $100,000.

It’s incredibly convenient that Interactive Brokers doesn’t charge a monthly inactivity fee, making it much more flexible when you trade less frequently.

Platforms & Tools

When I use Interactive Brokers, I rely on the proprietary Trader Workstation (TWS) platform for most of my trading.

It gives me access to various instruments, from ETFs and futures to cryptocurrencies.

It runs smoothly on Mac, Windows, and Linux and offers valuable features like backtesting and trailing stop limits. Sadly, there’s no Web-based version and the interface is unintuitive.

Depending on how you want to manage my watchlists, you can choose between the Mosaic and Classic setups.

TWS provides powerful trading tools, but its complex interface can be overwhelming

The platform even lets you customize up to 338 columns, which is impressive, though sometimes it feels overwhelming on account of the sheer amount of information available.

The charting tools, which are based on TradingView, offer 155 studies for technical analysis.

I use tools like trendlines and Fibonacci analysis regularly. It’s handy to access historical trades, set alerts, and compare indices directly on the charts.

I appreciate the flexibility with order types. TWS supports 63 different ones, allowing me to test various strategies.

The Options Strategy Lab makes creating more advanced options orders easier when you’re feeling ambitious. There’s also algo trading and a Mutual Fund/ETF Replicator to help you find cheaper ETF alternatives.

On the downside, TWS’s interface feels outdated, and the frequent pop-ups can get annoying. For more straightforward navigation, I sometimes switch to Interactive Brokers’s mobile app or IBKR Desktop, which are much more beginner-friendly.

The 2024 desktop update, in particular, added some of my favorite TWS tools — like the options lattice and advanced screeners — while cleaning up the interface.

Overall, TWS is packed with features, and while it takes time to get familiar with everything, the level of control and customization it provides is worth the effort.

Research

Interactive Brokers’ research tools are incredibly useful, but navigating them can be confusing.

Some tools are tucked away in the trading platform, while others are buried in the ‘Account Management’ page. I wish it felt more consistent across the board.

Fundamental analysis tools help you assess a company’s stock performance when considering new investments. I also regularly use the economic calendar to keep track of market-moving events.

For options trading, tools like Trading Central’s reports and strategy ideas give valuable insights.

One feature I enjoy is ‘Market Buzz’ by Trading Central. It visualizes which companies are getting the most attention, and you can hover over the bubbles to see how frequently they’re mentioned or click for more details.

Trading Central’s ‘Market Buzz’ highlights the most talked-about stocks in real time

My go-to tool, though, is ‘PortfolioAnalyst.’ It’s like a personal financial command center. I can link all my financial accounts — checking, savings, and investments — and get a clear view of my overall economic health.

The tool breaks down my asset allocation, assesses portfolio risk, and even provides ESG ratings, which I appreciate as someone who cares about socially responsible investing.

While the research options are solid, Interactive Brokers could make the experience smoother by centralizing everything in one place.

Education

You can turn to the ‘Education’ tab on the broker’s website to sharpen your trading knowledge.

The resources are free and surprisingly high-quality, making learning at your own pace easy.

‘IBKR Campus‘ and ‘Trader’s Academy’ offer videos, webinars, podcasts, and quizzes, and they have tools for tracking progress.

Interactive Brokers’ free courses feature videos, webinars, and expert insights for all skill levels

Beginners should find the content straightforward and helpful, especially when learning the basics of asset classes and trading strategies.

I enjoy the more advanced insights and market commentary available for experienced traders.

The daily webinars are also a great resource. Interactive Brokers hosts sessions with industry experts that cover everything from platform tutorials to options strategies and trading global products.

Interactive Brokers’ educational content is amongst the best in the business. It’s professional and practical, helping you better understand how markets work and how to use the broker’s tools more effectively.

Customer Support

I’ve used several ways to contact Interactive Brokers but found wait times annoying during testing.

Phone support is available 24/7, but it can be challenging to reach anyone overnight because of the broker’s international service hours.

Live chat is easy to access on the platform or website, but there are often standard wait times and sometimes even outages.

When I need a quicker response, I turn to the automated ‘iBot,’ which can handle basic questions. If I’m not in a rush, I send my inquiries through the secure message center.

The chat rooms and forums are also more responsive. They’ve been invaluable when I’ve needed assistance with account promotions, margin account upgrades, or how-to-access research guides. I’ve also used them to check on interest rates or trade history.

While these resources are helpful, I still find the occasional delays frustrating, significantly when they slow down my trading.

Should You Trade With Interactive Brokers?

Interactive Brokers stands out because of its low commissions, competitive spreads, and access to a wide range of assets.

Its valuable tools, research, and global market access are excellent benefits. If you have significant capital to trade with, you can take full advantage of its comprehensive platform.

However, beginners might feel overwhelmed by the information available. The platform also sometimes feels outdated, and it can be tricky for someone just starting to navigate.

A more straightforward and user-friendly experience offered by eToro and Plus500 might be better for new traders.

Article Sources

• Interactive Brokers Website
• Interactive Brokers Options Strategy Lab
• Interactive Brokers Mutual Fund/ETF Replicator
• Interactive Brokers IBKR Campus
• Interactive Brokers Trader’s Academy
• Interactive Brokers Webinars
• IBKR – SEC License
• IBKR – CFTC License
• IBKR – FCA License
• IBKR – FINRA License
• CFTC – Interactive Brokers Record Keeping And Supervision Failures

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