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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.
 
 
 
160 Total Reviews
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5-Star       (67)
4-Star       (55)
3-Star       (23)
2-Star       (6)
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 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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IB for life
I love Interactive Brokers. Their platform is stable and the commissions are fair. I have been profitable using them as compared to other brokerages. I was losing more money to the boutique shops over time just through commissions. I can also scale in and out frequently into positions without having to worry about commissions eating into everything.

In the beginning, IB's platform may be hard to digest but if you take the time to learn it, its pretty good. The best feature they have is the shortable indicator. I can see what stocks are easy to borrow and I don't have to go through the hassle to find out things. As for the customer service, I have had no problems. I have never complained about anything even if my fill was bad. They have been straight forward and direct with me. If you are contacting them for other reasons rather than trading or opening account privileges, I can understand why they are annoyed. They do have higher minimum requirements when it comes to opening accounts and getting certain trading privileges so be aware of that.

Executions are fast and great. The platform is stable. Good shortable indicator but borrows are not perfect. Borrows are better than most boutique shops. Higher net worth clients have more access to borrows (pre-borrows) through Portfolio Margin.

On the downside, the Level 2 and charts are very weak. Even OTC and Pink quotes are limited or non-existent on Level 2. The login process can be a little annoying too with the special added security but I understand why. I also wish they could simplify the order entry box too. They should look at Lightspeed or Das or Realtick as examples.

In an ideal world for me, I think IB has a great execution platform with fair commissions but they need the Level 2 detail of Etrade Pro and the simple charts of TOS.

4.5 out of 5.0 stars. It just needs some minor refinements.

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Excellent value, average customer service
Strong: excellent execution, cheap commissions, good stable platform.

Weak: customer service.

Overall: recommended for active traders who know what they are doing.

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Poor customer service
Interactive Brokers is horrible when you have a legitimate complaint. It is nearly impossible to get compensated for their mistakes since their general conditions state that they are never responsible for anything, even when they make a technical error.

They do not allow telephone calls to discuss a complaint. Everything has to be handled through the trouble ticket systems which allows them to avoid any questions they have no valid answer for. Dishonest is the word that comes to mind.

Execution is supposed to be their strong suit, but in my experience it has been disappointing. I subscribe to a newsletter and often others are already in the trade at the recommended price and I never get filled at the same price. I also noticed that an order that does not execute often does execute when I cancel and re-enter it. What is that about?

The TWS platform is a bit too complicated for my taste. I prefer the TDAmeritrade system (which they got through Think or Swim).

The Webtrader is not stable at all. I type in a bid and when I move to the next field, the price already has flopped to the ask instead of the price I want to pay. I have seen this happen several times. Often the value of the field changed back even before I finished typing.

The iPad app is nice, but prone to connection problems.

Prices are OK, but as my commissions are over 15k/year I'd still appreciate a discount but the website nor their call tree does not allow me to contact some sort of account manager.

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Good and Cheap
They are a good broker to use compared to regular retail firms such as TD Ameritrade, and ScottTrade. Their fees are way lower and feels like a prop environment without the leverage.

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Ib
Fast execution, excellent short lists. IB charge low commission on per share basis, great for scale-in or scale-out trading.

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expensive
expensive and my account got flagged to be monitored for 90 days am much happier with td

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Heres the good and the bad
Positives: Great execution (best out there), cheapest rates and their trading platform has some pretty cool things like risk navigator, what-if portfolios, etc.

Negatives: Lacking customer service. Getting on the phone with them is not the best experience. I have found the interactive chat is much better. The trader work station platform is really big and confusing to use. Have clicked way too many wrong buttons and have entered the opposite of the trade I wanted a few times

Overall, Best broker for execution

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