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ONLINE BROKERAGE REVIEW

Interactive Brokers Review 2023

Updated January 24, 2023

Quick Info

  • Standard Equity Commission
    0.5% of trade value
  • Best Commission Price
    $1
  • Minimum to Open Account
    $0
  • Maintenance/Inactivity Fees
    $0
  • Commission-free ETF Trading
    Yes (About 90 U.S-traded ETFs; mainly in the Global X, Cambria, Legg Mason, Reality Shares families)
  • Young Investor Offer
    No

HIGHLIGHTS

3.7/5 (1)

Interactive Brokers Canada is the Canadian arm of Interactive Brokers, an American discount brokerage firm. While several of the other Canadian online brokerage firms are affiliated with or are a part of a major bank, Interactive Brokers is not bank-owned and is more geared toward active traders than “investors” per se.

If you are an active trader, then Interactive Brokers’ pricing structure can certainly keep your trading costs in check. Important things to consider are your typical order sizes and your typical trading volumes on a monthly basis, as there are slightly different pricing plans suited to each category. The required account minimums are also important to note. Since adding registered accounts, Interactive Brokers has become much more competitive with many of the other Canadian online brokerages in regards to price and functionality.

Interactive Brokers Full Review

What Account Types does Interactive Brokers offer?

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    Registered Accounts

    Non-Registered Accounts

Account Fees & Requirements for Interactive Brokers

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    Registered Accounts

    Non-Registered Accounts

Trading Commissions & Fees provided by Interactive Brokers

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Interactive Brokers Rankings & Reviews for 2023

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  • Sorry, no data is available.

How can I contact Interactive Brokers customer support?

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Interactive Brokers Downtime Report

Interactive Brokers down? Submit an incident report using our exclusive online brokerage outage tracker and view reported incidents from other users.

Click here to view current Interactive Brokers Downtime Report

What do people think of Interactive Brokers?

rmf2021
interactivebrokers
2/3/2023
The amount of EUR you can safely withdraw as a loan from Interactive Brokers (IBKR) depends on several factors, including the current market conditions, the terms of the loan, and your personal financial situation. It is difficult to determine a specific amount without taking these factors into consideration. However, as a general rule of thumb, it is advisable to limit loan amounts to a manageable percentage of your total investment portfolio, so as to maintain a healthy level of diversification and to reduce the risk of financial loss. In your case, with $25,000 worth of US T-bills, you may want to consider a loan amount that represents a relatively small portion of your total investment portfolio, such as 10-20%. However, it is important to note that this is just a suggestion and you should carefully evaluate your own financial situation before making any decisions. Additionally, it may be helpful to consult with a financial advisor to determine the maximum amount of EUR you can safely withdraw as a loan. \- ChatGPT
EXabytE407
AusFinance
2/3/2023
I moved to Aus ~5 months ago (originally from the US). And I would say depends on your money timing needs needs. I personally have kept all my US assets (stocks/ETFs/bonds) and transferred enough cash to get me off the ground. I am currently renting, so my normal job income covers that, and I don't have a particular need for more cash. My general plan is to move back to the US (or somewhere else eventually) so I am mostly holding my money in US brokerage accounts. Like you said the exchange rate is more or less impossible to peg down so I would not worry about it too much. If you do as one of the other users specified and xfer a regular amount every set unit of time, you'll more or less even out. Just keep in mind on larger amounts the wise/xe fees do add up. You can trade the market rate yourself, but it does require a bit of set up (I personally do this via interactive brokers and can explain it more in depth if you want). You'll eventually need AUD if you follow through on your plan to buy a place, so if I were you, I'd figure out when you plan to buy (should that after you arrive) and move the money over a period of 6 months+ (I'd say 1 year). Note that bank interest rates are more or less the same. Depending on whether you are holding primarily cash or other assets you may want to check with an accountant on your tax implications as that could affect your decision on liquidating some. Tax in Australia is generally higher than the US and you may get taxed on some capital gains whilst here on your US holdings (I'm still not exactly sure the rules around this one myself). If you do eventually become a permanent resident I'm fairly certain you will taxed on it. Cheers and welcome!
Empire Down...
GrabbingHands1
2/3/2023
@DonnyKerabatso4 Interactive brokers (mobile)
AdMinimum8487
merval
2/3/2023
interactive brokers tambien
Fang Li
fleavis
2/2/2023
RT @IBKR: What interest rate does your broker pay? Interactive Brokers’ clients earn up to USD 4.08% on idle cash balances.