Traders are constantly looking for a convenient service that will become profitable and comfortable. All of this can be offered by Interactive Brokers (IB). This company’s name is known worldwide, so its customers can count on the most favorable terms of cooperation. Like it or not, our Interactive Brokers review will help you find out.
About IB
Likely, any experienced traders have yet to hear of the existence of IB. This service is owned by Interactive Brokers Group, Inc., which has 45 years of experience providing various trading services. This company, with a capital of about 11 billion dollars, is known worldwide, and its clients are millions of people. Nearly 2 million financial transactions are made daily using the IB platform. The excellent reputation of the company is due to its openness. All activities are designed to find common ground with customers and meet their needs. This approach could be more innovative, but it gives a good result.
IB offers clients a wide range of services. Using the service, you can conduct online trading of various assets, including cryptocurrencies, bonds, futures, and options. The whole process is monitored by status regulators so that you can forget about shadow schemes and illegal activities. In addition, IB attracts attention with its accessibility, which makes it a good option for beginners.
Interactive Brokers allows you to choose between two Lite and Pro plans. The first one is suitable for traders who have little capital. In this case, trading in stocks and ETFs will accompany a 0% commission. The Pro package is designed for experienced traders who are used to handling large volumes of assets. For them, a multi-level system of commission fees is provided. Because of it, the exact cost depends on many factors and is no more than $0.0035 per share. At the same time, ETF trading also remains commission-free.
Service features
The trader’s professionalism does not insure him against various mistakes. Therefore, any business needs to find the right approach and follow specific rules. In the case of IB, you need to start and consider the order of the preparatory steps.
Procedure:
- By any means, go to the IB website.
- There, on any page, find Interactive Brokers login (if you already have an account) and “Open Account” (if you want to become an IB client).
- Click on the selected inscription. In the first case, enter your username and password and go to your account. If you do not have an account, go through the standard registration procedure. The registration form is available in many languages, making your work as easy as possible.
- Confirm your email address and open an account.
- Next, log into your account through the IB web app or download the mobile version.
- Study commissions and choose a tariff.
- Top up your account, after which you can start working.
Each trading service has its characteristics. They make it unique and help it stand out from the competition. Interactive Brokers also has such features.
Nuances of cooperation with IB:
- Mobile and web versions. Interactive Brokers makes it possible to use the application on computers and mobile gadgets. Both versions are as similar as possible, so you can safely use each without fear of any inconsistencies in the settings, interface, or functionality. The mobile version is available in popular app stores, and you don’t have to pay for its installation.
- Test period. To get an idea of the possibilities of IB, you can order a test account. To get it, you need to complete a simple registration, after which you will have 1 million dollars on your virtual account. You can spend this “money” as you wish and train to achieve good trading results. A test account is ideal for getting acquainted with IB and all available trading instruments.
- Customer support. At IB, it is implemented quite well. Representatives of the company respond to all user requests within a few hours. The maximum waiting time for a response is one day. You can use email, phone, and online chat to get in touch. In all cases, the support service is available around the clock on weekdays. She works 6 hours on weekends and only helps in emergencies. Standard applications left on Saturday or Sunday are processed at the beginning of the following week.
- Affiliate program. IB has an affiliate program, and to participate in it, you must undergo additional registration. This will open up the opportunity for users to invite others to the project and receive good financial benefits. At the same time, remember the limitations. The maximum number of referrals that can be asked is 30.
Advantages/Disadvantages
IB has a reasonably broad client base. It was formed not just like that, but thanks to many advantages. They persuade traders to open an account and start full-fledged cooperation. There are several negative points in the work of Interactive Brokers. They do not significantly affect the service’s popularity, but everyone should know about them.
IB pros:
- extensive experience in providing services to traders
- building good relationships with clients
- status regulators
- transparency of all actions
- access to trading in various assets
- wide availability
- a large selection of additional tools
- low commission fees
- test period
- high-quality mobile version
- the efficiency of the support service
- thousands of positive reviews
IB cons:
- inconvenient site
Not all traders can enjoy work. To do this, you need to love your job endlessly and use the services of Interactive Brokers. This company performs its work qualitatively, receiving increased attention from users. Having learned all the intricacies of cooperation with IB, you can demonstrate all its advantages by personal example and save yourself from searching further for a reliable partner.
Conclusion
Features: 4
Exchanges Supported: 3
Security: 4
Price: 4
Customer Support: 5
