Top Options
73/ 100
Regulated: Regulated by the SEC, NYSE, FCA and more
Min Deposit: $10,000
US Clients:
Bonus: No Bonus Available.
Free Demo Account:
Trading Platform: Web-based, Mobile and Interactive (with API)
Payment METHOD NAME Charge Time


Full Review

About Interactive Brokers

Interactive Brokers is an ECN broker that was founded in 1977. It has its headquarters in Greenwich Connecticut, with offices in Switzerland, Canada, Hong Kong, UK, Australia, Hungary, Russia, India, China, and Estonia.It is regulated by SEC, FINRA, NYSE (US), FCA (UK), IIROC (Canada).


Special Offers and Bonuses

There are no bonuses or promotions on Interactive Brokers. However, there is a Trader Referral program which lets you receive a bonus of up to $200 when the commissions amassed by that trader has exceeded $666.67. There is no limit to the number of referral bonuses you can receive.


Types of Trading Accounts

Four account types are available on Interactive Brokers:

a)    Individual: Requires a minimum deposit of $10,000

b)    Reg T IRA: This requires a minimum deposit of $25,000.

c)     Portfolio Margin: The portfolio margin account requires a minimum deposit of $110,000.

EAs cannot be used on the Interactive Brokers platform. However hedging strategies, scalping and intraday strategies can be used irrespective of account type.


Trading Platform Features

The platform solutions on offer by Interactive Brokers are given below:

a)    Trader Workstation (TWS): The Interactive Brokers market maker-designed platform enables offers a simplified workspace that has order management, analytics, and account monitoring; integrated news and fundamentals subscriptions, real-time account balance and activity monitoring, built-in risk management and option pricing applications, and task specific tools among others.

b)    Mobile Trader Workstation: Features four mobile platforms: the mobileTWS for iOS (iPhone and iPad devices), the mobileTWS for BlackBerry, the mobileTWS for Androids and the mobileTWS for Java ME which is compatible with phones that run on the Windows software. Users of other mobile devices can also connect to their accounts through the MobileTrader platform.

c)     WebTrader: This is the HTML-based trading platform offered by Interactive Brokers to its clients. It features a simple and customizable trading interface, market data and charts, advanced trading tools, access to news and fundamentals, and account monitoring tools. It can be accessed through any web browser.

d)    Interactive Brokers offers API Solutions, Customer Activity Monitor, Paper Trading Account, Order Types and Algos, and SmartRouting.


Commissions and Spreads

The spreads available for selected currency pairs available on Interactive Brokers are given below:



Charting Packages

Interactive brokers boasts of advanced charting tools. The proprietary product offered by Interactive Brokers in this regars is the Interactive Brokers Information System (IBIS). The IBIS Research Platform equips active traders with a robust arsenal of research tools powered by a variety of tier one content providers. Subscription costs $69 per month for the first year, and $89 per month subsequently. It provides traders with market data and reports such as those available to institutional traders. On the IBIS platform, traders can get:

a)    3 chart types (line, bar, and candle).

b)    22 configurable technical indicators including Bollinger bands, money flow, and ATR.

c)     Alert “wand” supports point-and-click alert creation.

Traders can also get access to Market Scanners. These scanners help identify trading opportunities based on price action and market fundamentals. Scanner results can be exported to MS-Excel.


Education and Demo Accounts

There is a Traders University which features webinars, trading tours and video downloads. These are resources that will enable traders get added knowledge of various topics in forex. There are also various apps for the iOS devices such as a Trader’s Calendar, various tools and widgets and a forex glossary. There is also a IB Student Trading Lab which contains resources that can be used for academic purposes such as those studying for exams based on financial trading.

Traders can also gain access to a free but limited demo account on the WebTrader.


Customer Service

Customer Support on Interactive Brokers can be reached via the following means:

a)        Phone: US – 1 (877) 442 – 2757(toll free), 1 (312) 542 – 6901(direct dial)

Canada – 1 (877) 745 – 4222(toll free), 1 (514) 847 – 3499(direct dial)

Europe – 00800 – 42 – 276537(toll free), +41 – 41 – 726 – 9500(direct dial)

Hong Kong – +852 – 2156 -7907(direct dial)

Australia – +61 (2) 8093 7300(direct dial)

India – +91 22 61289888(direct dial), +91 22 33259888(direct dial)

China – +86 (21) 6086 8586(direct dial)

b)        Live Chat.

c)         Online Contact Form


Deposit and Withdrawals

Deposits and withdrawals can be made on Interactive Brokers using the following methods:

a)    Bank Wire

b)    Check

c)     BPAY

d)    Online Bill Payment

e)    Canadian Electronic Funds Transfer

f)     ACH initiated at Interactive Brokers or at your Bank

g)    Direct Rollover

h)    Trustee-to-Trustee.

i)     Internal Transfer from one Interactive Brokers account to another.


Deposit Limits

The minimum deposit amounts allowed on Interactive Brokers are shown as follows:

Category Required Deposit
Individual Accounts (unless listed below) USD 10,000 (or non-USD equivalent)
Trading Group Masters USD 10,000 (or non-USD equivalent)
Broker Masters USD 10,000 (or non-USD equivalent)
Indian residents 2 trading with an IB India account INR deposits only, equivalent to USD 2,000
Indian residents 2 trading with an IBLLC-US account USD 5,000 (or non-USD equivalent)
IRAs 3 USD 5,000 (or non-USD equivalent)
Individuals age 25 or younger USD 3,000 (or non-USD equivalent)
Advisor and Broker Clients USD 5,000 (or non-USD equivalent)


Withdrawal Limits

The minimum withdrawal limit for ACH, SEPA, and Canadian EFT is 5,000,000 USD. Lower withdrawal limits are allowed for bank wires and check transfers. There is no maximum withdrawal limit.

It is required that customers have sufficient available funds and equity in excess of the initial margin requirement; and all withdrawals must be sent in the name of the account holder.



Interactive Brokers basically offers a professional-style trading environment for traders. New traders will find it a bit difficult to use their platforms but once some experience has been attained, it becomes a breeze. The advantage is that the tools offered by Interactive Brokers are the same tools available to institutional traders. Thus a trader using the IBIS platform will have an advantage over other retail traders in the marketplace.