facebookInteractive Brokers Reviews and Comparison - Seedly

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Online Brokerages/Interactive Brokers
Online Brokerages/Interactive Brokers
4.1
34 reviews
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Summary

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  • Pays to access additional features

Interactive Brokers Reviews 2022

The fees and charges of Interactive Brokers are as follows:

Singapore Stocks

  • Commission: 0.08%/share
  • Minimum Commission: S$2.50

US Stocks

  • Commission: US$0.00035/share
  • Minimum Commission: US$0.35
  • Maximum Commission: 1% of trade value

UK Stocks

Up to GBP 50,000 Trade Value:

  • Fixed: GBP 6.00
  • Minimum Commission: GBP 6.00
  • Maximum Commission: GBP 6.00

>GBP 50,000 Trade Value:

  • Fixed: GBP 6.00 + 0.05% of incremental trade value (> GBP 50,000)
  • Minimum Commission: GBP 6.00
  • Maximum Commission: GBP 29.00

EUR-Denominated Stocks

  • Fixed: 0.1% of trade value
  • Minimum Commission: EUR 4.00
  • Maximum Commission: EUR 29.00

Hong Kong Stocks

  • Fixed: 0.58% of trade value
  • Minimum Commission: HKD $12
  • Maximum Commission: HKD $18
...see more

Interactive Brokers

None

MINIMUM FEE

Market Spread

TRADING FEES

Custodian

STOCK HOLDING TYPE

Interactive Brokers

None

MINIMUM FEE

Market Spread

TRADING FEES

Custodian

STOCK HOLDING TYPE

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Reviews (34)

4.1

34 Reviews

5
16
4
11
3
2
2
3
1
2

Service Rating

Customer Support

4.2

User Experience

4.1
      Posted 03 May 2022

      Purchased

      Interactive Brokers

      I have been using both an IBKR SG an IBKR LLC account for a little over a year. [Commission Rates] 5/5 One of the lowest commission rates for trading on US and LSE markets, with a very low minimum fee. If you are transacting < $10k per trade, I recommend changing your account pricing plan to "Tiered" instead of "Fixed" to have even lower fees. They offer insanely low margin rates starting at 1.83% (as of writing). Best forex rates for converting currency as they use spot rate. IBKR has also dropped their $10 USD monthly activity fee which makes this one of the most cost-effective and best overall broker in Singapore. [User Interface] 4/5 Trader Workstation (Desktop App) - The one I use 90% of the time. Not the best in terms of UX. Has all the necessary trading features but it has a bit of learning curve to use. Also needs some configuration to set up nicely. I suggest watching some videos on YouTube on how to best set it up. The built-in charting software in this app is terrible. I suggest using an external app if you need to use charts. It’s usable, but sometimes frustrating to use. They recently updated the Mac version and it runs smoothly now. IBKR iOS App - Once again, UI is not the best but it’s usable. The text is small and a bit hard to read. I only use this to approve my login, I have switched to the new IBKR GlobalTrader app on my phone instead. IBKR GlobalTrader App - This is a new iOS app with a simpler and much nicer interface. However, it doesn't support options trading yet. I use this for taking a peek at my portfolio values and occasionally buying my monthly ETFs. IBKR Android App - I don’t use Android so no comments. Web interface - Personally, I only use this to deposit cash into my account, exchange currency and download the monthly statements. [Features] 4/5 Accessible in all major platforms. Supports the well-known options trading strategies. Real-time market data is available as a paid-addon subscription. Accepts deposits in multiple currencies and usually appears in the account within the same day. Able to withdraw once a month for free via wire transfer. [Customer Service] 2/5 Their account opening is quick and straightforward. Took about 2 days for approval. Contacting support is not great. It takes about 15-30 minutes before I get paired with a live chat representative. I once had to link my IBKR SG and IBKR LLC account and the rep took around 5 minutes to reply per message. I was given a reference number for follow up via email. In the end my problem was never solved. [Market Access] 5/5 They offer access to numerous markets including US, UK, SG (for IBKR SG), AU, HK, etc. [Overall] 4/5 Recommended for beginner and experienced investors. I use this as my main broker for DCA and occasional stock picks.

      0

      What are your thoughts?

      Posted 06 Apr 2022

      Purchased

      Interactive Brokers

      Been using this for years. Though the customer support may not be ideal, the platform is relatively easy to use and I have not faced much difficulties over the years.

      0

      What are your thoughts?

      Posted 17 Mar 2022

      Purchased

      Interactive Brokers

      [Commission Rates] One of the lowest commission rates of all brokers, $0.35 per trade (Tiered -Highly recommended!). [User Interface] Not the best user interface and no live market data. However, its easy to use (once you got used to it) app [Customer Service] Top-notch customer service. super friendly staffs and have you will get connected to an agent talking to you. [Market Access] One of the few broker in SG with the widest range of market access. [Fractional Shares Access] For retail investors, we small capital up-front. [Forex Fess - Currency Conversion] Very transparent - Google Rate. SGD$2+ for converting one currency to another which is very good.

      0

      What are your thoughts?

      Posted 05 Jan 2022

      Purchased

      Interactive Brokers

      Reasonable platform with no issues so far. I have a very small % of my portfolio with them primarily for options trading which my primary broker does not offer. I don't particular like the UI. If and when better options become available in the SG market will likely move away from them

      0

      What are your thoughts?

      Posted 01 Jan 2022

      Purchased

      Interactive Brokers

      [NO Live market data] The biggest problem with IBKR is they did not provide live market data for free! The price that you are looking for in their trading platform is delayed data at least 20 mins. The stock and options price are past 20-30 mins and if you anyhow trade then you definitely trade at the wrong price! Very annoying for this! To subscribe for live data you need to pay for inflexible bundle monthly subscription fee of US$4-10! No wonder the lowest commission broker but they get it back from you somewhere! [Day Trade] Lowest commission trade yes but but but the fees structure can be confusing for some trade! Hard to understand why it was not $1 per trade some can be $1.99/2 per trade! [Options trade] Love it! Offer full options strategy for new customer, don't have to apply anything at all unlike TD Ameritrade not giving full options strategy trade and even applying permission they will reject you without a reason ! [Trading platform] One of the most technically difficulty and hard to navigate and hard to understand platform ever. This lead to slow trade and error trade causing risk of loss in trade too! [ Customer Service] Responsive phone call customer service but the live chat service is not responsive at all like broken feature. Overall, I'm not really like it with IBKR trading platform especially their trading platform over technical designed not for street trader like me, NO FREE LIVE MARKET PRICE, trading report / statement very hard to read and understand! If IBKR can remove all problems said, I'd love it!

      0

      What are your thoughts?

      Posted 21 Dec 2021

      Purchased

      Interactive Brokers

      Very good platform with extremely competitive rates, including forex. Recommended to the serious investor.

      0

      What are your thoughts?

      Posted 04 Dec 2021

      Purchased

      Interactive Brokers

      [Commission Rates] One of the lowest commission rates and able to trade fractional shares in the US market. [User Interface] Difficult to navigate and use. [Market Access] Very accessible on all major markets.

      1

      Posted 03 Oct 2021

      Purchased

      Interactive Brokers

      The portal is easy to use, however sometimes it can be quite buggy when market is volatile. I buy my stocks and do options on it. It doesn't provide LIVE market data for free, which is not an issue for me, since I'm using the platform for investing, not active trading. I usually have a target price, and if I want free LIVE market data, I go to Trading View / Yahoo Finance (for stocks), and TD Ameritrade's Think or Swim (for options). The software Trader Workstation is more complicated and initially, it may be daunting to those seeing a technical-looking software for the first time. However there're tons of videos on YouTube to teach how to buy/sell stocks/options. After all, that's all you need to do isn't it? If one's willing to learn, the user interface is not a problem once you get used to it (you can also customize layout to your preference). Commission rates & exchange rates are competitive. Now they also don't have the monthly inactive fee. In addition, you can access the world's markets on a single platform. Customer service via chat is great. Just remember don't forget your password, otherwise you'll have to call CS in HK to reset password. My most expensive password reset! 😂

      0

      What are your thoughts?

      Posted 23 Sep 2021

      Purchased

      Interactive Brokers

      [Features] Difficult to navigate and difficult to use for beginners like me. Can be overwhelming and confusing Also, hard to track back the trades , not as open book as the other brokers out there

      0

      What are your thoughts?

      Posted 02 Sep 2021

      Purchased

      Interactive Brokers

      [User Interface][Market Access] UI experience on the web interface is not as good as other brokers. But pretty efficient by every other metric. Wide access to market.

      0

      What are your thoughts?

    Discussions (0)

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      Brokerage Fees and Charges of Interactive Brokers

      The fees and charges of Interactive Brokers are as follows:

      Singapore Stocks

      • Commission: 0.08%/share
      • Minimum Commission: S$2.50

      US Stocks

      • Commission: US$0.00035/share
      • Minimum Commission: US$0.35
      • Maximum Commission: 1% of trade value

      UK Stocks

      Up to GBP 50,000 Trade Value:

      • Fixed: GBP 6.00
      • Minimum Commission: GBP 6.00
      • Maximum Commission: GBP 6.00

      >GBP 50,000 Trade Value:

      • Fixed: GBP 6.00 + 0.05% of incremental trade value (> GBP 50,000)
      • Minimum Commission: GBP 6.00
      • Maximum Commission: GBP 29.00

      EUR-Denominated Stocks

      • Fixed: 0.1% of trade value
      • Minimum Commission: EUR 4.00
      • Maximum Commission: EUR 29.00

      Hong Kong Stocks

      • Fixed: 0.58% of trade value
      • Minimum Commission: HKD $12
      • Maximum Commission: HKD $18

      Contact us at [email protected] should you require any assistance or spot any inaccuracies.

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