Interactive Brokers Stock Brokerage Review
Updated November 8, 2009. I’ll make this real easy for you: Do you have $10,000? Are you an active trader? Do you trade in large volumes? If the answers are no, then you’ll want to check out other stock brokerages.
Interactive Brokers is targeted towards active and more experienced traders. The brokerage actually conducts trades for many professionals, so you know its game time when you mess around them.
With Interactive Brokers, you can trade stocks, options, futures, FOREX, bonds and funds, so you don’t have to worry about being limited in investment options.
Pricing and Commissions
- Commissions range based on trading volume, frequency and/or other criteria*
- $10,000 minimum to open account ($3,000 if younger than 21)
*What makes Interactive Brokers unique is their varying price structure. You can more in-depth details here.
Because everything is done in-house commissions are cheaper, but in order to really experienced the change trading volume should be relatively higher.
Details and Summary
Their tools are are not meant for the average trader. There is a web-based and software-based application that take some time to learn and get used to. You can demo them before you sign up.
Pros
- Cheap commissions
- Lot of stocks and shortable options to choose from
Cons
- Bad support
- Lack of tools and resources
Overall Interactive Brokers is best for active traders that just need cheap stock trades, and not worried about other things.
What to do next – Sign up for Interactive Brokers here
Similar stock brokerages – MB Trading… Find the broker that best meets your needs.