Interactive Brokers, Inc. (IB) is an American multinational brokerage firm that operates the largest electronic trading platform in the United States. Founded in 1977 by Thomas Peterffy, the company has grown to become one of the premier securities firms, with $373.8 billion in client equity and $10.01 billion in equity capital as of 2024.
Interactive Brokers Operations
Interactive Brokers is the largest electronic brokerage firm in the US by number of daily average revenue trades, and is the largest forex broker. The company targets commodity trading advisors, making it the fifth-largest prime broker servicing them. It provides correspondent clearing services to 200 introducing brokers worldwide, as of 2014. As of December 2021, the company serves 1.68 million client brokerage accounts.
Interactive Brokers Products and Services
IB brokers a wide range of electronically traded products, including:
- Stocks
- Options
- Futures
- Currencies
- Bonds
- Gold
- Cryptocurrencies
- Mutual Funds
across over 150 market destinations worldwide. In 2023, IB processed an average of 3 million trades per trading day.
Interactive Brokers Trading Platforms
Interactive Brokers offers several trading platforms, including:
- Trader Workstation (TWS): A customizable desktop platform for advanced traders and professionals.
- IBKR GlobalTrader: A simple mobile trading app for beginners and casual traders.
- Client Portal: A web-based platform for forex trading and includes integrated news headlines and an economic calendar.
Interactive Brokers Fees and Commissions
Interactive Brokers is known for its low fees and competitive commissions. The company offers highly sophisticated order type configurations, which can be a boon for advanced forex trading strategies. However, the platform can be overwhelming for beginners, and MetaTrader is not available as an alternative platform option.
Interactive Brokers Customer Service
Interactive Brokers has a reputation for providing excellent customer service, with dedicated account managers for large clients. However, online support can be slow for smaller clients.
Interactive Brokers Education and Research
Interactive Brokers offers a wide variety of quality educational content, including a growing selection of forex-specific content. The company’s educational resources are highly regarded, but the primary focus is on the stock market.
Does Interactive Brokers charge a monthly fee?
Interactive Brokers does not have a monthly inactivity fee, and it doesn’t charge an account or deposit fee, either. The first withdrawal each month is free of charge while subsequent withdrawals carry a fee (e.g. $10 in case of USD withdrawal).
Interactive Brokers Awards and Recognition
Interactive Brokers has received numerous awards and recognition for its services, including:
- Best Trading Platform – 2023
- Best Bond Broker – 2023
- Best Futures & Options Broker – 2023 & 2020
- Best Options Broker – 2022
- Best DMA Broker – 2022
- Best Prime Broker – 2022
- Best Algo & API Trading – 2022.
Interactive Brokers Safety and Regulation
Interactive Brokers is regulated by the SEC, FINRA, NYSE, FCA, and other regulatory agencies around the world. The company is rated investment grade by Standard & Poor’s and has a consolidated equity capital of $14.7 billion.
