Interactive Brokers Review
Interactive Brokers are a professional gateway to investment with minimum initial costs as their USP. The platform is highly transparent and charges a low commission in return for its services. Interactive Brokers also offer a stock yield enhancement program solely designed to maximize investment returns. The trading and financing costs are meager which help traders earn more profits. The budding traders get various trading options like stocks, bonds, and currencies at their platform. Interactive Brokers is available in several countries and allows trading in different financial instruments.
Merits and Demerits:
- Access to worldwide markets
- Superior technology
- Unified cash management system
- Safety and security
- Real-time reporting
- Controlled personal details
Interactive Brokers Company Details
Interactive Brokers has been in the business for the past 44 years. Since its inception, the motive of the entity has never changed. The platform constantly works hard to offer superior technology when it comes to providing liquidity on excellent terms. Additionally, the entity competes on price, progressive trading tools, size, and range of financial products. The entity offers its services in more than 150 countries. Furthermore, Interactive Brokers accounts for direct access to professional trading services in different financial tools via electronic mode.
Interactive Brokers provides its services in 33 countries. However, in the countries where trading is considered illegal, the entity is not present and does not render its services.
Interactive Brokers Trading Platforms
The client portal is available where traders can check every minute detail regarding their trading. It is a one-stop portal where traders can check their account balance, profit and loss, funding, reporting, etc.
A trader workstation is the best option for traders that trade different financial products and demand flexibility and power.
The traders can check their account activity via their mobile phones using the IBKR application.
The traders can trade in different global financial options with the global trader, including stocks, mutual funds, and ETFs.
The IMPACT allows investing in financial tools that you want.
The API is well-known and highly supported with multiple technical supports.
Trading Accounts: Interactive Brokers
Individual, Joint, Trust, IRA and UGMA/UTMA Accounts
The account is used to hold assets where the assets are owned by one party for the benefit of another party.
Family Advisor and Non-Professional Advisor Accounts
It is an account that is linked with the client’s account. Generally, the master account is used for collecting the fees and allocating trade.
Family Office Accounts
The account is linked with several client accounts.
Small Business Accounts
The account holds the assets owned by the enterprise account holder.
The advisor account is linked with the enterprise or client’s accounts. The work is similar to the Family Advisor account.
Money Manager Accounts
In this, a different account is created for the client. A money manager manages the money on behalf of the client.
Interactive Brokers- Payment Options
The Interactive Brokers allow for different payment options. They also accept cryptocurrencies as an effective payment method. Crypto wallets are offered to clients, and they are incredibly encrypted.
Interactive Brokers- Trading Instruments
With the Interactive Brokers, the traders get a wide range of trading instruments. The traders can deal in a variety of financial instruments like stocks, options. ETFs, spot currencies, cryptocurrencies, bonds, mutual funds, and hedge funds. Every financial tool is easy to operate and simple to trade.
Interactive Brokers Contact and Customer Support
Interactive Brokers is available 24 hours a day and six days a week for its clients. The general queries get answered via email and their mobile application. Traders can also contact them through their email address.
Interactive Brokers- Account Opening
The account opening process at Interactive Brokers is not very complicated. The individuals need to generate a username and a password. After that, a confirmation mail is sent. Once the email is verified, the budding traders need to click on Open Account in the top-right corner of the website. A form is presented on the screen, and the individuals are required to complete every column. The individuals must fill in the correct contact and personal details.
Interactive Brokers- FAQ
How to get along with the client portal?
Client Portal offers a hassle-free web interface for customers to view account metrics, place and track orders, and perform different activities. It can be accessed from the Login button available on the main website.
How to place an order on Client Portal?
Click on the Trade menu, followed by the kind of financial product. Once the product is selected, enter the symbol and select the asset. The trader needs to choose the buy or sell option depending upon their requirement. The parameters must be defined ideally. Lastly, to transmit the order, select the submit order.
What is Interactive Brokers Platform?
Interactive Brokers account for a wide range of trading platforms. Furthermore, all the trading activities can be accessed via mobile phones.
What are different accounts offered at Interactive Brokers?
The Interactive Brokers accounts for individual accounts, joint accounts, retirement accounts, family advisor, non-professional, and institutional accounts.
How to open an account on Interactive Brokers?
Opening an account with Interactive Brokers requires three general steps:
- Fill in the application form
- Deposit a minimum account into your account.
- Start trading.
What financial products do Interactive Brokers offer?
The Interactive Brokers is a storehouse of unique financial products, including stocks, cryptocurrencies, ETFs, spot currencies, bonds, mutual funds, etc.
What is a cash management service?
With the cash management service, the traders can borrow money at the lowest interest rates without any hassle of transferring cash.
Interactive Brokers is designed according to the requirements of future trading. Individuals who want to trade in various assets with excellent trading conditions can consider creating a trading account with Interactive Brokers.