What is Interactive Brokers
Interactive Brokers is an ECN broker that was founded in 1977. The head office of the company is located in the USA, other regional offices are located in Canada, Hong Kong, Switzerland, Hungary, Australia, Estonia, Great Britain, India, China, and Russia.
How Does Interactive Brokers Work
Despite the fact that the online broker does not have special offers or bonuses, it is possible to receive $ 200 for each invited trader if he pays a commission of more than $ 666.67. The total amount of commission for invited traders is not limited and the leverage is at 1:40
There are such accounts on the Interactive Brokers:
- Portfolio account that has a minimum deposit of $ 110,000
- Individual account that has a minimum deposit of $ 10,000
- IRA account that has a minimum deposit of $ 25,000
You can also use intraday strategies, scalping, and hedging, regardless of the type of account.
It gives access to such platforms as:
- Webtrader
Webtrader has a convenient interface and is based on HTML. It also provides market data, trading tools, news and more. Logging into this platform is possible through any browser.
- Trader Workstation
The platform has account status tracking, risk management, analytics, and transactions.
- Mobile Trader Workstation
It is compatible with iOS, BlackBerry and Android. There is also a special modification of the Java ME mobile platform that allows you to trade on Windows-based devices and the ability to connect to the MobileTrader platform.
There are also solutions such as Customer Activity Monitor, Smart Routing, API and Order Types.
You can withdraw and deposit funds to Interactive Brokers using a check, bank transfer, automatic settlement, electronic transfer, payment through proxies, internal transfer on the exchange and through BPAY.
The minimum withdrawal amount through ACH, SEPA and EFT systems is $ 5,000,000. A smaller amount can be withdrawn by bank transfer or check. There is no limit on the maximum amount. When withdrawing funds, it is necessary that the balance on the account comply with margin requirements.
Is Interactive Brokers Safe?
Interactive Broker has a BBB + rating with a positive outlook from S&P. Customer accounts are held in segregated accounts and insured for $ 500,000 by the Securities Investors Protection Corporation (SIPC). Also, two-factor authorization is used to enter the account.
It is regulated by FCA, NYSE, AFSL, SEC, IIROC and FINRA.
Review results
Interactive Brokers is suitable for both novice traders and more experienced ones. At first it will be difficult for beginners to work on a website, but over time they will figure it out. The advantage of a broker is that it provides a variety of trading tools that are available only to institutional traders.
