Interactive Brokers Pros & Cons | Get Information at a Glance

  • يونيو 29, 2021
  • Posted by: ForexTradeOn
  • Category: Interactive Brokers review
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Interactive Brokers Pros & Cons | Get Information at a Glance

Introduction

Interactive Brokers is a US-based broker founded in 1978. It’s basically a forex and CFD broker and has a wide variety of other trading instruments. It’s also regulated by top-tier FCA, the Financial Conduct Authority in the UK.

In this article we’re addressing the main pros and cons of Interactive Brokers in each broker aspect.

Interactive Brokers

Pros

Cons

Safety
  • Regulated by top-tier financial authorities
  • Negative balance protection
  • Listed on stock exchange
  • Founded in 1978
  • Over 720,000 clients worldwide
  • None

Offering of Investments
  • Forex and CFD trading
  • Stocks, options, and futures trading
  • Metals, bonds, ETFs, and Mutual funds trading
  • Crypto trading
  • None

Account Opening
  • Individuals, joint, trust, IRA, and UGMA accounts
  • Various account types
  • Fully digital registration
  • Fast opening
  • Minimum deposit is $0
  • Account fees on some account types

Fees and Commissions
  • Low commissions
  • Low trading fees
  • Monthly inactivity fees

Deposit & Withdrawal
  • Several account base currencies options
  • Free deposits
  • No credit/ debit card option
  • No digital bank transfers
  • Limited deposit options

Platforms and Languages
  • Customized platform
  • Available on desktop, web, and mobile
  • User friendly UI
  • Notifications available
  • Two-factor authentication
  • Clear portfolio and reports
  • Slow desktop app
  • Complicated desktop version

Research Tools
  • Good charting tool
  • Newsfeed
  • Recommendations
  • Mutual funds search tool
  • None

Customer Service
  • Email support
  • Phone support
  • Live chat
  • No 24/7 support

Education
  • Demo account
  • Various educational materials
  • Webinars
  • Videos
  • glossarie
  • None

FAQs

  1. How long does it take to verify my account?
  • It takes about 2 to 3 weeks to verify your Interactive Brokers account.
  1. Can I open more than one trading account?
  • Yes, you can create a linked account and log into Account Management, you can perform any action, such as modify trading permissions or transfer funds, for a specific linked account.
  1. Does Interactive Brokers allow bot trading?
  • Yes, it does.
  1. Does Interactive Brokers give a bonus?
  • Yes, Interactive Brokers will give you a bonus of up to $200 if you refer a friend that opens an account and maintains a balance of at least $10,000 for one year.
  1. Does Interactive Brokers allow scalping and hedging?
  • Yes, Interactive Brokers does.
  1. Does Interactive Brokers has a swap-free account?
  • No, Interactive Brokers does not have an islamic account.
  1. When will my demo account expire?
  2. Can I login to the same account through different devices?
  • Unfortunately, Interactive Brokers does not support logging in to your account from different devices. You should log out from one of them to login to another.
  1. Does Interactive Brokers accept payments from third parties?
  • No, the payments should be under your name only.

If you want more information, please check out Interactive Brokers Full Review.



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