Interactive Brokers review offers a detailed evaluation of one of the most reputable and technologically advanced multi-asset brokerage firms globally. Founded in 1978, Interactive Brokers (IBKR) is renowned for its institutional-grade trading platforms, access to over 150 markets in 33 countries, and deep regulatory compliance. It caters to retail, professional, and institutional traders with robust infrastructure and transparent pricing.

Regulation and Safety

Interactive Brokers is regulated by top-tier financial authorities including the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Financial Industry Regulatory Authority (FINRA) under CRD# 36418. It is also authorised by the UK’s Financial Conduct Authority (FCA: 208159), the Investment Industry Regulatory Organization of Canada (IIROC), the Monetary Authority of Singapore (MAS), and others. Client assets are protected by SIPC (up to $500,000, including $250,000 cash) and additional Lloyd’s of London insurance.

Execution Model and Trading Platforms

Interactive Brokers offers a true agency model with no dealing desk intervention. It operates a smart order routing system and direct market access (DMA). FIX API is available for institutional clients, while retail users can trade through the powerful Trader Workstation (TWS), IBKR Mobile, and IBKR Web platforms. The execution quality is consistently among the best in the industry, with millisecond-level latency.

Markets and Instruments

IBKR clients can access over 1.5 million instruments across multiple asset classes:

• Forex (105+ pairs)
• Stocks (25+ countries)
• ETFs and mutual funds
• Options and futures
• Bonds (corporate, municipal, sovereign)
• Commodities
• Cryptocurrencies via Paxos (Bitcoin, Ethereum, Litecoin)

Accounts, Spreads and Leverage

Interactive Brokers offers individual, joint, institutional, and retirement accounts. Forex spreads are interbank-grade, often below 1.0 pip, with no markups. Commissions are ultra-low, starting at $0.005 per share for stocks. Forex leverage is up to 1:50 for eligible clients. Margin rates are tiered and among the lowest globally. There is no minimum deposit, though margin accounts require $2,000 to access leverage.

Funding and Base Currencies

Funding methods include wire transfers, direct bank transfers, and ACH. IBKR supports 23 base currencies including USD, EUR, GBP, AUD, CAD, CHF, and HKD. Most deposits are processed within 1–2 business days. Withdrawals are free once per calendar month; subsequent withdrawals incur a small fee. The platform does not support funding via credit/debit cards or e-wallets.

Client Protections and Features

IBKR offers industry-leading protections: SIPC coverage, excess Lloyd’s insurance, negative balance protection (where applicable), two-factor authentication (2FA), biometric logins, and advanced account monitoring tools. Client funds are held in segregated custodial accounts, and the firm is publicly listed on NASDAQ (Ticker: IBKR), offering full financial transparency.

Institutional and Retail Offering

Interactive Brokers supports hedge funds, proprietary trading groups, registered advisors, introducing brokers, and family offices with services such as FIX API, white-label solutions, and client onboarding tools. Retail clients benefit from IBKR GlobalTrader, low commissions, SmartRouting, paper trading, and deep research integrations via Refinitiv, Morningstar, and more.

Pros and Cons

Pros

• Top-tier regulation and global market access
• Ultra-low commissions and tight spreads
• Professional-grade platforms (TWS, IBKR Mobile)
• SIPC + Lloyd’s insurance protection
• Institutional services including FIX API and DMA

Cons

• Platform complexity may overwhelm beginners
• No crypto deposit or credit card funding
• Monthly inactivity fees for legacy accounts (now mostly removed)

Frequently Asked Questions

Is Interactive Brokers regulated?

Yes, IBKR is regulated by the SEC, CFTC, FINRA, FCA (UK), IIROC (Canada), MAS (Singapore), and other top-tier authorities worldwide.

What trading platforms does IBKR offer?

IBKR provides Trader Workstation (TWS), IBKR Mobile, IBKR WebTrader, and FIX API for institutions.

Can I trade crypto with Interactive Brokers?

Yes, IBKR offers crypto trading via Paxos, including Bitcoin, Ethereum, and Litecoin, for eligible clients.

What are the commissions and spreads?

IBKR charges ultra-low commissions (as low as $0.005/share) and offers tight interbank spreads, especially on forex and equities.

Are client funds protected?

Yes, client assets are protected under SIPC up to $500,000 and additional Lloyd’s of London insurance, with fund segregation and robust security.