facebookInteractive Brokers Reviews and Comparison - Seedly

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Online Brokerages/Interactive Brokers
Online Brokerages/Interactive Brokers
4.0
32 reviews
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USER RATINGS

Customer Support

4.2

User Experience

4.0

Interactive Brokers

None

MINIMUM FEE

Market Spread

TRADING FEES

Custodian

STOCK HOLDING TYPE

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Interactive Brokers

None

MINIMUM FEE

Market Spread

TRADING FEES

Custodian

STOCK HOLDING TYPE

[PROMO] Get transaction fee-free ETFs. Valid till 31 Dec 2022. T&Cs apply. Learn more below.

Details

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Interactive Brokers Reviews 2021

The fees and charges of Interactive Brokers are as follows:

US Stocks

  • Commission: US$0.005/share
  • Minimum Commission: US$1.00
  • 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: 0.08% of trade value
  • Minimum Commission: HKD 18
  • Maximum Commission: N/A
Read More about Interactive Brokers
Reviews (32)

4.0

32 Reviews

  • 5
    14
  • 4
    11
  • 3
    2
  • 2
    3
  • 1
    2

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      Posted 15d ago

      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

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      Posted 19d ago

      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!

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      Posted 21 Dec 2021

      Purchased

      Interactive Brokers

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

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      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.

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      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! 😂

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      Posted 23 Sep 2021

      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 1.56% (as of writing). Best forex rates for converting currency as they use spot rate. Recently, IBKR dropped their $10 USD monthly activity fee which makes this one of the most cost-effective and best overall broker in Singapore. [User Interface] 3/5 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. This app is also quite slow/laggy on a Mac. It’s ssable, but sometimes frustrating to use. 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 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 - Most polished UI out of the 3, but doesn’t have all the trading features. Buying and selling stocks is ok, but you can’t view option chain using the web UI. 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.

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      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

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      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.

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      Posted 24 Jul 2021

      Purchased

      Interactive Brokers

      Waiver of monthly inactivity fee is definitely a welcome addition. One of the best brokerages due to its wealth of tools for sophisticated/more experienced investors.

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      12 Jul 2021

      Purchased

      Interactive Brokers

      [Commission Rates] Really low rates especially after dropping the inactivity fees. [Market Access] Provide excess to LSE to buy Irish domiciled ETF [User Interface] A little complicated as compared to Tiger and Moomoo but you will get used to it after awhile.

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      Get Transaction fee-free ETFs available from 10 institutions

      • Promotion is valid till 31 December 2022
      • Promotion is applicable to new Interactive Brokers clients only
      • Clients may be reimbursed for commissions paid instead of receiving a fee waiver
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      Brokerage Fees and Charges of Interactive Brokers

      The fees and charges of Interactive Brokers are as follows:

      US Stocks

      • Commission: US$0.005/share
      • Minimum Commission: US$1.00
      • 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: 0.08% of trade value
      • Minimum Commission: HKD 18
      • Maximum Commission: N/A

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

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