Interactive Brokers Review
Interactive Brokers (IB) is a brokerage firm based in the United States. The firm currently holds the record as being the market leader in digital brokerage in regards to revenue trades. To calculate its actual position, however, the trades are averaged on a daily performance.
The company, whose main on-ground headquarters are in Greenwich, Connecticut but with other supporting offices across the region, is also revered due to its continued lead on Forex broker trading.
Interactive Brokers is part of Interactive Brokers group, Inc, which has ground offices countries and a worldwide online digital brokerage base.
As a listed and regulated brokerage firm by US Securities and Exchange Commission, the firm promises absolute credibility and authenticity to regular and first-time customers. IB is also regulated by Financial Industry Regulatory Authority, New York Stock Exchange, among other regulatory bodies across the world.
Opening Interactive Brokers Account
There are two major types of accounts that traders can open at IB and these include Institution Accounts and Trader & Investor Accounts. Either of the accounts can easily be opened online through Interactive Brokers official website.
Institution Accounts: There are several types of institution accounts accessible at Interactive Brokers. Registered Advisor account, Money Manager account, Broker account, Proprietary Trading Group account, Hedge or Mutual Fund account, Compliance Officer Account and Administrator account.
Trader & Investor Accounts: This category contains a list of accounts that are suitable for strict investors and traders. Users can register for a Trader or Investor account, Small Business account, Friends and Family Advisor account as well as Family Office account.
Interactive Brokers also supports free or trial accounts where first time users can explore company’s capacity to make them money.
Trading At Interactive Brokers
Trading at IB has featured in most reviews as a state-of-the-art modern technology thus giving access to an intuitive easy to use interface. To understand the end results, it is necessary to focus on the platforms used, accessible technology, products, and services.
Platforms: Traders can enjoy tracking market performances through mobile, desktops, and the web. The company boasts the capacity to support all smartphone operating systems, unique trader workstation and a comprehensive HTML-based trading platforms.
There are also free platform demos that first-time users can download to help them get started with trying out IB. The company also boasts its ability to offer API solutions where users can easily build their own trading applications. Clients with knowledge and resources have access to FIX CTCI, a renowned industry acceptable solution to Trading,
Other available platforms at IB include research and TWS software platforms. Research platform helps users understand the changes occurring in international markets thus make informed decisions before trading whereas TWS is a robust offline app that can be installed on desktops.
Technology: To build a high-end brokerage firm, a few things must be brought into focus and technology is one of those. IB offers SmartRouting technology—a way to smartly compare and market performances, customer monitoring technology, third party integration options as well as white branding for users to use their own logos when trading on the company’s site.
Products: There are several types of products that can be traded at IB and these include: futures, stocks, options, forex, bonds, ETF’s and CFD’s. All those products can easily be purchased or sold using a single universal Interactive Brokers account.
The products section also opens a new world of trading by introducing new products in the market, products margins as well as listings and exchanges.
Services: IB offers a list of services that have been credited with playing a key role in the company’s position on the market. Some of the renowned services include account management for clients, employee tracking thus giving clients a hedge on their investments, IRA information as well as securities financing among others.
Prices At Interactive Brokers
IB prides itself on offering high-end services to professionals and serious investors and for this, the organization insists that each account must produce a given minimum commission every month.
The required deposits needed depend on several options such as the age of the individual, the account type, and residence. The fees range from USD 3,000 to USD 10,000 respectively.
Interest rates at IB are usually defined by the outcomes of international benchmarks. This helps the company calculate the interest tier based on margin loan balances. The benchmarks are represented by the currency type, loan amount and rates charged respectively.
IB offers interactive customer service solutions. The base regional offices are ready to attend to customers on the ground on all weekdays 24hrs a day while at the same time offering 24/7 customer telephone services.
The company’s ready to assist staff are also available on chat, email, fax, and response is immediate.
Interactive Brokers is a US-based brokerage firm operating in more than 100 countries around the world. The company is part of Interactive Brokers Group, Inc, which is registered and regulated by US financial regulatory bodies among other financial institutions worldwide.