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Interactive Brokers

Successful traders and investors understand that superior technology and lower trading costs can result in greater returns. For 32 years the IB Group has been building electronic access trading technology that delivers real advantages.
 
 
 
168 Total Reviews
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5-Star       (71)
4-Star       (57)
3-Star       (24)
2-Star       (7)
1-Star       (11)
   
Top Review
 
Cheap, Quick, Safe
I've been to many brokers in my time of trading and IB is one of the best I've ever used. Their commissions are unmatched. If you...
JohnCA
 
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Great borrows low fees
Have not had any problems getting borrows with these guys, great support and low fees. Minimum to open an account is a little high, but if you have the capital go with them.

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Excellent service and best value
I've used IB for a year now and I only have good things to say.

Tools/ Interface - I see many comments about the complexity of IB's trading platform and the learning curve. Yes IB has a very complex and customizable trading platform called TWS, but they also offer an online trading platform called WebTrader which is extremely easy to use. One note TWS does not work behind closed firewalls, whereas WebTrader does.

Initial deposit - at $10k it's pretty high for the average guy.

Trade execution - extremely fast. I've had stop limit orders executed flawlessly as a stock was selling out and dropping like a knife. Very thankful for getting me out at my stop price.

Customer service - another area where I've seen IB get bad reviews. I have not had to deal with the customer service department much, but the time or two I did they were pretty helpful and courteous. I guess one thing to keep in mind is that I don't think IB wants rookie traders. They want people who know what they are doing and won't be on the phone twice a day wasting their time. It's the only way they keep their rock bottom fees.

Fees - lowest I've seen. If you trade frequently, daily and have a small account the $7 each way commission you pay to other discount brokers can add up quickly. IB charges pennies and I've spent many weeks testing trading ideas with IB and their low commissions helped a lot.

Security - very secure. Unlike most brokers that stop with a user name and password, IB provides you with a printed card mailed to your home of over 200 randomly generated characters unique to your account and it asks you to enter a number of these characters every time you log in. A hacker might be able to get your user name and password, but as long as your card is secure you should be pretty safe and it's the size of a credit card. I've seen people complaint bitterly about this security feature and quite frankly I can't understand why.

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Too high of minimum for starters
$25,000 minimum!

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Good Borrows
Great broker with good borrows. They have a required minimum balance of $10,000 unless you are under 24 (I think), then it's $3,000.

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Great brokerage
I think IB is great. They have a very stable platform and provide low commissions to traders. Their TWS is stable but clunky. Some traders are frustrated with it because it is hard to put in orders quickly if you are scalping. The platform is great for investors who are patient. There might be issues with customer service but that's what you get with a deep discount broker. This is not a hand holding place. Unfortunately, they have higher requirements to opening an account and getting permissions to trade certain instruments. You can also use other platforms with IB and link Ninjatrader and DAS Trader Pro too if you don't like the TWS interface.

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Good value but there are some problems
Love the low commissions and decent fills (they boast the best in the business), but twice now I've watched stocks trade BELOW my stop....my stop order just sits there unfilled as the stock continues to drop!!! Obviously this is completely unacceptable and when I contact customer service they just blame me somehow....super frustrating. I guess you get what you pay for ultimately.

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The best broker I've ever used
I have closed down speedtrader account because it started to suck :) and opened IB and I have to say I'm amazed. This is the real deal. Executions are great and commissions are cheap. I'm sticking with IB for life. Thank you Interactive Brokers!!

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Using IB more and more
Very Happy- Little cheaper than TOS.

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great for shorting
usually plenty of shares to short on all the hard to borrow stocks, pump and dumps and OTCs. customer service is rude though

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so bad
always disconnected data feed , trading platform is very inconvenient to use

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