Interactive Brokers Broker Review
Interactive Brokers (IB) is a reliable broker platform. It started working in the United States in 1978, and within just a few years, it became a well-established broker firm. They are currently one of the largest trading firms in the US.
You can find our transparent Interactive Brokers review below. Broker reviews are updated frequently!
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IB is offering vast access to bonds, stocks, futures, options, and few primary financial instruments. In addition, Interactive Broker is a great platform for:
- Day Traders
- Casual or advanced traders
- Optional Trading
- Margin accounts
- International investors
Furthermore, Interactive Brokers is available with two different trading accounts. One is a cash account in which you can trade with the money you already have in your account. The second is the margin account, which is used for trading on margin.
Interactive Brokers’ feed system consists of two main categories:
- Fixed Fee System
- Tiered Fee System
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A fixed fee system is a simple one in which you pay a fixed fee for each exchange. For the Swiss Stock Exchange, you have to pay around 0.10% on transactions. In the Tiered Fee system, the process is a bit complicated. You have to pay individual fees, including transaction fees, trade reporting fees, and clearing fees.
Pros / Cons
- Low Spreads
- No FSCA Regulation
- No ZAR Account Currency
- Broker Not Verified
With Interactive Brokers, it is possible to perform withdrawals and deposits using different options. Among them are bank wire transfers, online bill payments, US Automated Clearing House, and more. IB even allows the transfer of any funds between internal accounts. The minimum deposit requirements will vary based on the account type.
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Heinrich is a forex and CFD enthusiast with a passion for writing good informative quality content. He strives to showcase the best forex brokers in Africa. Join him on his Journey!
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