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Want to know about Interactive Brokers platform? Browse Interactive Brokers Trading Review posts now and get more information regarding it through the traders' views.

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Interactive Brokers is the biggest U.S based electronic brokerage firm, favored by active traders by volume of daily average revenue trades. Interactive Brokers (IBKR) was established in 1977 and is known for its industry-driving commission's plan, margin rates, and backing for global trading. Interactive Brokers offers one all-inclusive universal portal for its customers, by which they can trade in more than 125 market centers, 31 countries, and 22 currencies. Moreover, customers can deal with a wide variety of choices like stocks, futures, ETFs, bonds, forex and several more. Interactive Brokers has something or the other to offer for seasoned traders as well.

Features

Interactive Brokers has an industry-driving commissions plan, which incorporates the lowest margin rates and exclusive advantage such as acquiring interest on the idle money beyond 10,000 dollars. Casual traders can likewise trade for free.

Moreover, Interactive Brokers offers an extensive selection of investment choices which includes undisputable support for global trading. Another important feature this broker offers is, it offers 65 different types of orders.

By 1994, Interactive Brokers had become a complete full-fledged electronic trading platform. It is rated as No.1 Best Online Broker 2019 and a Top Online Broker for Nine Consecutive Years by Barron's among several awards.

Interactive Brokers offers low margin rates for margin investors that are lowest in the Industry.

Interactive Brokers provides BlackBerry App for its BlackBerry clients.

The firm offers wide choices on Investments for precious metals, forex, futures, options, penny stocks, mutual funds, bonds, ETFs and traditional stocks as well. Moreover, it offers a Free Trial Account for its clients.

Recently, the Interactive Brokers introduced a new order type known as mid-price order that can be directed to various venues including IEX (The Indian Energy Exchange). Besides, it is a floating order that automatically changes with moving markets and searches out quicker fills and price improvement.

Interactive Brokers is best suited for -

Casual and advanced traders

Margin accounts

Penny stock traders

Day traders

Options trading

Research and data

Products

Some of the products offered by Interactive Brokers are -

Stocks

Options

Futures

Forex

Metals

Fixed Income

ETFs

Mutual Funds

CFDs

EFPs

Hedge Funds

Cryptocurrency

Robo Portfolios

Advantages of Interactive Brokers Trading Platforms

Few advantages of the trading platform are discussed below -

Designed by keeping professional traders in mind.

Traders can maximize their online trading speed and efficiency with their maker-designed Trader Workstation (TWS).

Traders can trade the IBKR account anytime in a mobile device with IBKR Mobile.

Uses HTML-based WebTrader, an easy and simple interface that works from behind a firewall.

Account types

IBKR offers two types of Accounts -

Individual Investor, or trader

Proprietary trading group

Trader Workstation

Interactive Brokers utilizes a few distinctive trading platforms. Currently, the most well-known is Trader Workstation (TWS), which works on a desktop. TWS enables the user to screen trades side-by-side, keep up watchlists and get alerts.

While comparing with WebTrader, the other desktop platform, it is loaded with rich features. Additionally, it is Java-based, which few clients may find it difficult. Moreover, it supports all types of trading, which also includes global assets.

Even though Trader Workstation is not intended for new investors, it effectively positions itself as the best trading platform in the business. Besides, watch lists can incorporate anything from equities to individual options, futures, forex, and warrants. Around 453 data points are accessible for column customization.

For traders who need progressively organized methodology, they can use WebTrader, a platform that is HTML-based. In any case, WebTrader still permits clients to access certain features like charting and news feed.

Also, this broker provides mobileTWS and MobileTrader, which are smartphone equivalents of TWS and WebTrader, accordingly. The traders can access Interactive Brokers with these applications on the Android, iPhone, or even BlackBerry. Besides, WebTrader will also work with Windows-based smartphones.

Pricing

Interactive Brokers offers its clients two pricing models - Fixed-rate and Tiered.

By using fixed-rate pricing on standard stock trades, the trader needs to pay just 0.005 dollars per share with at least 1 dollar per request and a limit of 1 percent of the trade value.

Moreover, frequent traders can also benefit from the tiered pricing structure, which will drop rates as low as 0.0005 dollars per share when they trade over 100 million shares every month with 0.35 dollar minimum per order and a limit of 1.0 percent of the trade value.

Additionally, options contracts are extremely cheap, at a charge of 70 cents per contract with no base and at least 1 dollar per order. Further, some discounts are applied to high-volume traders.

IBKR Lite customers do not pay commission on U.S. based equities, however, they are confined to the web-based client portal and mobile applications. The typical commission plan applies to all the other trades. Besides, Interactive Brokers has not charged a base fee for options contracts; occasional traders need to pay 0.70 dollars per contract.

Minimum Investment

Interactive Brokers can be less appealing for less active traders. For beginners, the firm requires a 10,000 dollars minimum investment, which is a lot higher than normal. Presently, if the trader is 25 or younger, the minimum amount is brought down to 3,000 dollars and if the trader is investing in an IRA (Individual retirement account) they need to have 5,000 dollars.

IBKR Pro

As the name suggests, IBKR Pro is intended for experienced traders. Experienced traders might like -

Advanced trading platform

Broker's per-share pricing of 0.005 dollars per share - with a minimum of 1 dollar

Wide range of tradable securities which includes foreign stocks

Very low margin rates

Advanced Trading Tools

Interactive Brokers' suite of Option Labs and advanced web-based trading tools help traders to implement optimal trading methodologies. For instance, Probability Lab offers a reasonable method to consider options without complex mathematics, and the Option Lab gives the trader to create a simple and complex multi-step option dependent on the price and volatility prediction.

Order Types and Algos

Interactive Brokers' Trader Workstation (TWS) supports more than 60 order types, from the very basic limit order to advanced trading to the complex algorithmic trading. These assist the traders to execute a wide assortment of trading methodologies.

Besides, Order types and Algos help the trader to limit risk, provide price improvement, speed up the execution, permit privacy, time the market and streamline the trading procedure through advanced trading functionalities.

Account Management tools

Interactive Brokers has 4 types of portals for account management-

Client Portal

Advisor Portal

Broker Portal

Compliance Portal

Trading Platforms

Client Portal
The client portal can be explained as the one-stop place where the trader can check quotes and place trades; can go through account balances, profit & loss, key performance measures, reporting, funding and so on. The trader can click "Ask IBot" to place an order, get quotes, discover information and more. Further, IBot supports speech entry and text.

Desktop Trader Workstation
TWS is the most popular platform designed for active investors and traders who trade various products. TWS incorporates the most advanced trading tools and Algos and offers a library of tools and asset-based trading formats for complete customization.

IBKR Mobile
By using IBKR mobile application, the trader can effectively trade and monitor the IBKR account from iOS or Android devices.

IBot
With the help of IBot, the trader can place orders in their own words. Succinctly, IBot understands the language content and voice commands and gives instant results without the requirement for special coding or technical jargon. IBot is available on TWS for Desktop, IBKR Mobile, client Portal through the site search and IBot-enabled FAQ browser.

IBKR WebTraderIBKR Web Trader, a web-based trading platform offers the same functions as the desktop with a simple interface and works behind a firewall.

IBKR APIs
No matter what the experience level of the trader, this broker provides easy-to-utilize Excel API to industrial-strength FIX API. Their TWS API is well-backed with various models that make it simple to get started.

IBKR Lite

In October 2019, Interactive Brokers introduced a commission-free offering, known as IBKR Lite. This service offers customers commission-free, unlimited free trading on US-listed stocks and ETFs, with Interactive Brokers standard pricing on different products.

By using IBKR Lite, there are no inactivity charges or data fees. All US stock and ETF trades are free, while options trades pursue the same IBKR Pro pricing.

The primary requirements for this new program are lower quality order executions, marginally higher margin rates than IBKR Pro, and there is no access to the Trader Workstation (TWS) platform. Rather, all trades must be made through the mobile app or website client portal.

Further, pricing is at the low range, particularly margin rates. IBKR Lite permits commission -free trading on the company's client portal.

Customers of IBKR Lite can only utilize the Client Portal and mobile applications, which do not provide advanced order types. Moreover, the order router for Lite clients organizes payment for the order flow, which is not shared with the client.

SmartRouting
One of the benefits of Interactive Brokers' SmartRouting is, it delivers the best Price execution. Interactive Brokers' SmartRoutingSM scans for the best firm's option, stock, and combination of prices accessible at the time of the order, to quickly execute the order electronically.

Scope of Offerings

Interactive Brokers offers a wide scope of offerings to its clients. Apart from direct access to 125 worldwide exchanges, Interactive Brokers has included a huge stock of fixed income items, including several European corporate bonds and Euro-denominated government securities. Even though they offer over 11,000 mutual funds, the trader can utilize their mutual fund replicator to discover lower-cost Robo advisory assistance called Interactive Advisors.

Sophisticated Risk Management

Interactive Brokers offers real-time market risk management and monitoring to provide a complete risk exposure over different asset classes around the world. This continuous data will give the trader an edge to respond rapidly to the markets.

Extensive Reporting

The company's announcements and reports incorporate real-time trade confirmations, transaction cost analysis, margin details, advanced portfolio analysis, tax optimization, and an assortment of other supplemental reports.

Trader's University

Interactive Broker offers free tutorials exclusively for its clients in the following areas:

Webinars

Courses and Interactive Tours

Trader's Insight

FX Auto Swap Program

The broker had created this component for specific customers who hold large forex positions, offering superior carry costs, when they are holding positions that are not closed on intraday. Suffice to say, this Auto swap program is not intended for and would not profit any customer who holds a single currency balance.

This facility is related to equal and offsetting positions in the forex market. The structure enables customers to profit by the participation in the interbank forex swaps market; where the suggested interest rate spreads are commonly much smaller than spreads accessible in the retail deposit market.

IBIS Research Platform

Research and news memberships are accessible through Interactive Brokers Information System (IBIS). Further, separate data services are additionally accessible. The platform incorporates subscription to few research services that are accessible free of charge. Moreover, these services are available to all demo clients and do not require an application to be funded or supported.

Probability Lab

The Probability Lab provides a practical method to consider options without the complexity of mathematics. The Probability Lab shows the Probability Distribution for any market, which deciphers the investor's present conviction over certain results.

The trader can interact with the tool to make their forecast and can find out option trading techniques with the highest risk-balanced return for the forecast.

The Probability Lab App is free for investors to use on their smartphones. When a trader opens an account with Interactive Brokers they will discover a lot of other supportive stock scanners and option trading tools which includes the IB Option Strategy Scanner and the IB Volatility Lab.

IBot

IBot offers access to a wide range of data, features, trading tools, and account information. Regardless of whether the trader needs to view a chart, sell an option, find stocks that are progressing, check the account balance, or find support from client services, IBot offers help.

Further, advanced artificial intelligence empowers IBot to react to the several ways that the trader asks for. Scanners, charts, orders, and several more are accessible with IBot.

News and Research

Options traders will have the advantage of many built-in tools like Probability Lab, which lets the trader compare the market standpoint with current conditions, recommending techniques to the trader to trade.

Interactive Brokers offers its customers free research from about 100 providers which includes Alexandria Social Sentiment, Zacks, Market Realist, ValuEngine, TipRanks, Dow Jones, and some more.

ESG ratings are accessible from Thomson Reuters, allowing the trader to compare and rank organizations dependent on factors that matter. Moreover, the trader can buy discounted subscriptions for premium research.

Education

The Trader's Academy offers free online seminars on a wide range of topics, starting from TWS for beginners, in-depth clarifications of different trading algorithms that are useful for the trader. Trader's Academy can be accessed from all platforms, including mobiles.

The Broker holds around 250 live webinars a year and has an archive with almost 900 earlier recorded webinars.

The Trader's Insight blog comprises of educational content on tax and retirement topics, along with outlooks for Asia-Pacific, US, Europe, and other different market areas. The IBKR Quant Blog is there for customers who want to trade in the financial markets and write their trading algorithms.

Trader's Academy

Trader's Academy is meant for finance experts, educators, investors, and for students looking for an understanding of asset class, currencies, tools, markets, and functionalities accessible on IBKR's Trader Workstation (TWS), Account Management, IBKR Mobile, and TWS API applications.

Cryptocurrency

Interactive Brokers offers traders to trade with Bitcoin and Ethereum ETNs and Bitcoin Futures.

Bitcoin and Ether ETNs are traded on the US OTC (Pink) markets and Stockholm Stock Exchange markets.

Bitcoin Index is accessible on the New York Stock Exchange (NYSE) and the CME Group and Chicago Board Options Exchange (CBOE)

Besides, Bitcoin Futures are accessible on the CME Group and Chicago Board Options Exchange.

Investments Offering

Interactive Brokers offers the most diverse offering in the business and leads by a wide margin in various areas, including global trading, order types, and money management. Any money staying idle on the account past 10,000 dollars will earn interest to clients. The rate will vary depending on the account balance.

Inactivity fees

Interactive Brokers provides services to active traders and that shows in its inactivity fees for IBKR Pro clients.

Accounts with a balance of 100,000 dollars or less should meet at least 10 dollars per month in trade commissions or there will be a charge for the difference as monthly fees.

Accounts having an equity balance of 2,000 dollars or less should meet minimum trade commission of 20 dollars. IBKR Lite does not charge inactivity fees.

Customer Support

Interactive Brokers offers customer support to all its clients. They can be reached through telephone, email, live chat, and an automated 'IBot' to get quick and relevant answers. Regardless, most choices are not accessible 24/7. Besides, customer assistance is accessible in various languages and regions, in particular in English, Chinese, Indian, Russian, and Japanese.

Drawbacks

Unlike its other active trader centered competitors, Interactive Brokers fails to meet expectations in the areas of market research, usability, and education for beginners.

Interactive Brokers' margin requirements for Intraday are not good, compared to other Indian discount brokers.

Further, Interactive Brokers has an inactivity charge of Rs.200 per month for Indian customers, which may be a disadvantage for investors who rarely trade.

TWS is designed for extremely active traders, which might be difficult for beginners to use.

Small or inactive accounts might be subject to data charges or maintenance fees.

Wrap up

Interactive Brokers is a good choice for active and advanced traders who are hoping to cut commissions. It offers industry-driving commission rates, over 60 distinctive order types, excessively low margin rates, support for every investment by trading in 125 global markets. This abundance of tools makes the platform apt for intraday and experienced traders. Their Robo-advisory assistance is a low-cost approach to get acquainted with the platform. Active traders can be benefitted from the wide assortment of global asset classes, order types, and trading algorithms offered by this broker.

Pros

Interactive Brokers has an industry-driving commissions plan,

Interactive Brokers offers an extensive selection of investment choices.

Interactive Brokers offers low margin rates for margin investors.

Interactive Brokers provides BlackBerry App for its BlackBerry clients.

It offers a Free Trial Account for its clients.

Cons

Interactive Brokers fails to meet expectations in the areas of market research, usability, and education for beginners.

Interactive Brokers' margin requirements for Intraday are not good, compared to other Indian discount brokers.

Interactive Brokers has an inactivity charge of Rs.200 per month for Indian customers.

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Interactive Brokers Review 2020 | CoinNewsSpan

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Interactive Brokers is the biggest U.S based electronic brokerage firm, favored by active traders by volume of daily average revenue trades. Interactive Brokers (IBKR) was established in 1977 and is known for its industry-driving commission's plan, margin rates, and backing for global trading.