Interactive Brokers

Name: Interactive Brokers review
Item: Interactive Brokers
Rating: 4.9
Author: ValidBrokers

US-listed broker — 30,000+ instruments and the lowest commissions in retail.

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4.9/5

3,214 reviews

Founded

1978

Min. deposit

Regulated by

SEC · FINRA

Platforms

PROPRIETARY

Interactive Brokers homepage — www.interactivebrokers.com

Quick take · 30s

Founded 1978 — over four decades of continuous US-listed operation
Eight major regulators including SEC, FINRA, FCA, CFTC, ASIC, MAS
Industry-lowest commissions on stocks, options, and futures
Publicly listed on NASDAQ (IBKR) — institutional-grade transparency

What we liked & What we didn't

What we liked

+SEC + FINRA regulation — gold-standard US oversight
+Industry-lowest commission structure on stocks, options, futures
+Universal account access to 150+ markets in 33 countries
+Sophisticated Trader Workstation platform for professionals
+Margin rates among the lowest available to retail

What we didn't

−Trader Workstation has a steep learning curve
−No MetaTrader support — proprietary platforms only
−Inactivity fee on accounts below $100,000 (waived under certain conditions)

Overview

Interactive Brokers (IBKR) is the institutional broker that opened its doors to retail. Founded in 1978 in Greenwich, Connecticut by Thomas Peterffy — one of the most respected figures in US market structure — Interactive Brokers operates as a publicly listed (NASDAQ: IBKR) US broker-dealer. The platform provides access to 150+ markets across 33 countries through a single universal account.

Regulation & safety

Interactive Brokers operates the most regulated stack in retail:

SEC and FINRA (US) — gold-standard US oversight, SIPC coverage up to $500,000 per account
FCA (UK) — IBUK, FSCS coverage
CFTC and NFA — for futures and forex
ASIC, MAS, JFSA, IIROC, FINMA — regional subsidiaries

The publicly listed parent (IBKR) provides quarterly financial disclosures unmatched by private brokers.

Account types

Two main account types: IBKR Pro (commission-based pricing optimal for active and high-volume traders) and IBKR Lite (commission-free US stocks/ETFs, available to US clients). Margin and cash account variants available within each tier.

Fees & spreads

Interactive Brokers is famously cheap. US stock commissions start at $0.0035/share with a $0.35 minimum on Pro tier. Options commissions $0.65/contract. Forex commissions 0.08–0.2 bps. Margin rates among the lowest available — typically 1–2% below industry average. The cost advantage compounds significantly for active traders.

Trading platforms

Trader Workstation (TWS) is the flagship desktop platform — extraordinarily powerful, with thousands of order types and analytical tools, but a steep learning curve. IBKR Mobile and Client Portal serve casual users. API access available in Python, Java, C++, and FIX for algorithmic traders. No MetaTrader support.

Asset class coverage

30,000+ instruments across stocks (150+ exchanges in 33 countries), options, futures, forex (105 pairs), bonds, ETFs, mutual funds, and cryptocurrencies (via subsidiary). The international reach is the differentiator — direct access to European, Asian, and Australian markets without intermediaries.

Customer support

24/6 phone and email support. Live chat available. Response times average 5–15 minutes. The support model is built around self-service first — Interactive Brokers' documentation is exhaustive but expects technically capable users.

Verdict

Interactive Brokers is the broker for serious traders who prioritize cost efficiency, regulatory weight, and international market access. The TWS platform rewards users who invest time to learn it — once mastered, nothing else in retail comes close to its analytical depth.

Not the choice for beginners who want point-and-click simplicity, and the lack of MetaTrader support rules it out for traders with existing EA libraries. But for cost-sensitive multi-asset traders, no other retail broker is competitive.