Interactive Brokers
Current Promotions
Never a promotion. Interactive Brokers is differentiated in that it is the only recognized US-based online broker that allows access to foreign currencies and foreign equity markets. Due to this feature and lower margin rates, they never offer promotions.
Equity Commission Rate
Equity commissions for everything other than IBKR Lite work according to a tiered structure but are never more than 1% for US listed equities. Equity commissions on non-US listed issues may actually by higher (such as for Norwegian listed stocks). Interactive Brokers complete commission structure on equities is listed here.
Option Rate
Pricing is a tiered structure according to trades per month. More active traders will pay as little as $0.25 per US contract, but others will pay $0.50 or $0.65.
Margin Interest Rate
Interactive Brokers charges the benchmark rate plus 1.50% on margin under $100,000.
It charges the benchmark rate plus 1% on margin between $100,000 and $1 MM.
It charges the benchmark rate plus 0.5% on margin above $1 MM.
Margin rates in IBKR Lite are much higher.
Learn more here.
Interest on Uninvested Cash
1.83% on USD deposits, but Interactive Brokers is charges negative interest margin to hold cash in currencies where the interest rate is below the US benchmark rate (basically the Japanese Yen and every European currency).
Customer Reviews for Interactive Brokers
Please share your experience below.
McMahon
September 20, 2022 |
Just an utter disgrace with this Victor Orban fellow. They rip you off any way possible.
jay
June 6, 2022 |
quietly suck small fees with no notice and no way to know why are your accounts are being depleted.
LT56222
May 5, 2022 |
Great for trading on foreign markets (non-US). I opened an account to do that and I haven't been disappointed on the trading side (but see below). I do not see it as compelling at all for those who have no interest in foreign markets (and that is about 99% for the US population). Again, I am not disappointed on the trading side, but you will need to convert to foreign currency to settle trades and this had me wondering if I could use the account to carry large Yen, quid and Euro positions and the answer is that you cannot without being charged negative carried interest fees (close to 1% annually) and that is disappointing.
fruisx8
March 28, 2022
Opened account years ago. Interactive would not connect to my bank, and returned my valid personal check when tried to fund account. Thus 0.00 balance since inception. Complicated interface I can not quite master despite having been an investor online for 2 decades and old-fashioned investor for another 3 decades before that. Believe it charges high bourse commissions when making transactions in foreign markets, of, say, $50 plus-minus. I am still receiving account holder emails despite no activity beyond attempts to fund.
Jayzy
March 7, 2022 |
Opened ibkr account in order to trade european energy stocks directly that i cannot do with schwab or etrade. i've done well with stocks and will continue to do so, but ibkr is a complete racket and should be avoided without some sort of a compelling reason (like mine). i would not be involved in this if anyone else provided the same international trading access.
Trinity
January 18, 2022 |
Good luck getting in touch with anyone if you have less than a couple of million. The standard customer service involves hours on hold. I also consider myself a fairly sophisticated investor and I cannot get the website to work.
jay leyton
November 24, 2021 |
trying to attract a more sophisticated investor but replete with fees, obfuscation
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