Interactive Brokers
Interactive Brokers Review 2022
Interactive Brokers, one of the biggest US-based discount brokers, was founded in 1977. The broker is regulated by several financial authorities globally, including top-tier ones like the UK’s Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).
Given that the broker has licenses from multiple top-tier regulators, has a long track record and publicly disclosed financials while being listed on a stock exchange; it all points towards IB being a safe service provider.
Interactive Brokers recently launched a new app for global stock trading
In addition, Interactive Brokers also has an app you can use for ESG investing
Pros
- • Low trading fees
- • Wide range of products
- • Many great research tools
Cons
- • Complicated account opening process
- • Complex desktop trading platform
- • Understaffed customer service
Interactive Brokers
Interactive Brokers (IBKR) leads the list of the most comprehensive investment platforms. Clients can trade stocks, options, futures, forex, cryptocurrencies, bonds, and funds in 150 markets from a single integrated account. Sustainable investors will be happy with the Impact Dashboard and app, which helps you evaluate assets through a socially responsible investing (SRI) lens. The Trader Workstation (TWS) downloadable platform serves professional traders and sophisticated, active investors interested in complex technical and fundamental trading tools and deep research. Interactive Brokers stands alone in its breadth of assets, research reports, global market access, tools, calculators, and educational materials. This range of products and services is both a blessing and a curse. IBKR’s sheer wealth of information sometimes can be challenging to digest.
That said, the free paper trading and 3-month trial give users a path to try out this comprehensive investment broker. Founded in 1993, by current chairman Thomas Peterffy, Interactive Brokers has a streamlined approach to brokerage services that focuses on broad market access, low costs, and superior trade execution. Well-capitalized and publicly traded, IBKR has 1.92 million client accounts and $2.17 million in daily trade values. This discount broker offers a competitive and transparent fee schedule along with rock-bottom margin pricing. On the negative side, with the breadth of assets and complex tools, it takes time to wade through the pricing guide and navigate the platform.
Continuing its commitment to innovate, the company recently added cryptocurrency access and fractional shares trading for U.S. and European stocks. The Impact app is a big initiative to provide investors the opportunity to trade companies based on their environmental, social, and governance (ESG) leanings at a granular level. Last but not least, the GlobalTrader app is a boon for international investors who are looking for mobile access to markets. New features and products are regularly added to the IBKR trading platforms, with additional funds regularly added to the massive number of U.S. and international mutual funds.
IBKR is a superb platform for advanced and professional traders looking for a massive selection of order types to execute sophisticated trading strategies across assets and markets. Intermediate investors will also appreciate the breadth of assets and the growing educational and research resources. Beginners may be best suited to a more streamlined investment broker, as IBKR can have too many products and services for the new investor.
