Interactive Brokers
Good for serious investors who want the cheapest fees, 150+ markets, and SIPC protection. Skip if you're new to investing — TWS is famously complex; XTB is kinder.
Excellent · above median (83)
Affiliate link · doesn't change your terms
Interactive Brokers is the cheapest cross-border broker we cover — IBKR Pro Fixed charges $0.005/share with a $1 min, capped at 1% of trade value. Best for cost-conscious investors with $5k+ who can stomach the TWS learning curve. Skip if you want a polished mobile-first experience or you're investing under $2k.
Not sure if it fits you?
Take the 2-min quiz →About Interactive Brokers
Interactive Brokers (IBKR) is a NASDAQ-listed US broker founded in 1978 and regulated across more than 15 jurisdictions, including SEC/FINRA, FCA, CIRO, ASIC and the Central Bank of Ireland. SIPC covers US accounts up to $500,000 (incl. $250k cash); FCA-supervised IBUK accounts are protected up to £85,000 by FSCS.
The platform is built for serious investors: 150+ markets, 28 currencies, fractional shares on US/European stocks, complex options chains, futures, bonds, mutual funds and a competitive margin rate. Commissions start at $0.0035 per share (Tiered) or zero (IBKR Lite, US-only).
The trade-off is product complexity — Trader Workstation has a famously steep learning curve, and the account opening pipeline asks for more documentation than CFD-only brokers. Beginners typically prefer XTB or Trading 212; IBKR rewards traders who already know what they want.
FOUNDED
1978
48 years operating
HEADQUARTERS
Greenwich, CT, USA
Greenwich, CT, USA
MIN. DEPOSIT
$0
Below industry median
COMPENSATION
SIPC ($500,000)
ICF / investor protection
What you'll actually pay
Estimated all-in annual cost on a $10,000 portfolio with 24 stock trades and one $10k FX conversion. Inactivity and custody not included unless you trigger them.
- Stock commissions
- Free
- FX markup
- $0.02
- Custody
- Free
- Stock commissions
- Free
- FX markup
- $0.20
- Custody
- Free
- Stock commissions
- Free
- FX markup
- $2.00
- Custody
- Free
Interest on uninvested cash
What the broker pays on money sitting in your account between trades. Rates are variable and verified against the broker's own page.
From $10,000
IBKR Pro (benchmark minus 0.5%); no interest on the first $10k, blended rate reaches full above NAV $100k
From €10,000
IBKR Pro (benchmark minus 0.5%)
From £8,000
IBKR Pro (benchmark minus 0.5%)
Rate tracks the IBKR benchmark; IBKR Lite pays roughly 1% less. No interest on the first $10k equivalent. Cash is SIPC-covered, not FDIC.
Verified 2026-07-01 · broker source →
Why this broker scores 100/100
Full methodology →How safe is your money
Segregated client accounts
Client funds held separately from operating capital. Required by regulator.
Investor compensation: SIPC ($500,000)
If broker becomes insolvent, your covered assets are reimbursed up to the scheme's limit.
Publicly traded company
Listed on a regulated exchange — financials are public.
48 years of operations
Founded 1978. No major regulatory actions on record.
Negative balance protection
You cannot lose more than your account balance.
What you can trade
Real assets you own
Stocks
NYSE · NASDAQ · LSE · XETRA
ETFs
0% commission on most US/EU listed ETFs
Options
US options on stocks & indices
Bonds
Government & corporate bonds
Forex
50+ currency pairs · raw spreads
Futures
CME & EUREX futures
Where you trade
IBKR Trader Workstation
IBKR pro-grade desktop platform with deep order types
Win · Mac · Linux
IBKR Mobile
IBKR mobile companion app
Mobile
Client Portal
IBKR web portal — lighter than TWS, full account management
Web
How to open + where you can
ACCOUNT TYPES
Individual · Joint · Corporate · Retirement
BASE CURRENCIES
USD · EUR · GBP · CAD · AUD · CHF · JPY · HKD · SGD · KRW
DEMO ACCOUNT
Unlimited · $1.0M virtual
KYC VERIFICATION
1-2 days typical
WITHDRAWAL SPEED
Wire 1-2 days
CUSTOMER SUPPORT
24/7 · EN · DE · ES · FR · IT · JA
Open fast
EASY · 5Open slower
4Restricted / blocked
READ FIRST · 211 jurisdictions · grouped by friction
Industry-cheapest per-share commission on US stocks (IBKR Pro Tiered $0.0035/sh, Fixed $0.005/sh)
Sub-half-cent execution for Tiered plan; Fixed at $0.005/sh is still ~10x cheaper than Admirals or EXANTE on the same trade. Cap at 1% of trade value protects small-dollar trades from disproportionate fees.
SIPC protection up to $500,000 per account ($250k cash) — strongest US-domiciled coverage
Cash equities held under IBKR LLC (US) are covered by SIPC. EU clients trading via IBKR Ireland get ESMA + Irish Investor Compensation Scheme (€20k) instead — different protection but explicit on the regulator's register.
150+ markets from one account, including direct access to LSE / XETRA / HKEX / TSE
Multi-market execution is rare among retail brokers; most aggregate via CFD wrappers. IBKR routes directly to native exchanges, which matters for tax-residency-sensitive holdings (e.g. UK ISA + EU equities).
Public NASDAQ-listed parent (IBKR) — financial transparency above industry norm
Quarterly 10-Q + annual 10-K filings. Cap structure, capital ratios, and segregated client funds are all auditable from public filings — uncommon for retail brokers (most are private).
Wide instrument selection (10k+)
Single account covers stocks, ETFs and major derivatives
Trader Workstation (TWS) has a famously steep learning curve
TWS is built for institutional / professional flow: order-routing controls, conditional orders, advanced charting are powerful but cluttered for beginners. The simpler 'Client Portal' web UI exists but lacks features. Three weeks to feel comfortable is typical.
IBKR Lite (zero-commission plan) is US-residents-only
Lite uses payment-for-order-flow (PFOF) to fund $0 commissions. Non-US residents only see Pro Tiered / Fixed pricing — not necessarily worse, but the marketing 'free trades' angle doesn't apply outside the US.
Customer support thin relative to peers — chat queues commonly multi-hour
Phone support exists but tier-1 quality varies by region. For account-opening / KYC questions, response times of 24-48h via web ticket are common. Compare to Saxo / Admirals where chat is typically <15min.
Mobile app is functional but utilitarian — not a Robinhood-style experience
IBKR mobile (iOS/Android) covers order entry, charts, account management. UX feels like a desktop port; users who prefer single-tap fractional-share buying find it heavier than competitors.
- ✓Cost-conscious investor with $5k+ portfolio
- ✓Active trader needing 150+ markets from one account
- ✓EU/UK resident wanting SEC + FCA dual regulation
- ×Beginners (TWS desktop has a famous learning curve)
- ×Mobile-first investors (IBKR mobile is functional but utilitarian)
- ×Accounts under $2k (until 2021 there was a $20/mo inactivity fee for small accounts; check current entity terms)
How to open a Interactive Brokers account
- 1
Visit Interactive Brokers
Click the button below to open Interactive Brokers's registration page. The link is affiliate — no extra cost to you.
- 2
Provide personal info
Enter your legal name (as in passport), residential address, date of birth, and tax residency country. Use the exact spelling from your ID — mismatches delay verification.
- 3
Submit verification documents
Upload passport or national ID + proof of address (utility bill or bank statement, dated within the last 3 months). Interactive Brokers typically completes KYC verification in 1-2 days.
- 4
Fund the account
Make your first deposit. Interactive Brokers's minimum is no minimum. Wire transfers usually clear in 1-2 days; card deposits are instant where supported.
- 5
Start trading
Log into the platform — IBKR Trader Workstation, IBKR Mobile, Client Portal — and place your first order. Start small to confirm execution and fees match expectations before scaling up.
Frequently asked questions
Is Interactive Brokers safe and regulated?
What is the minimum deposit on Interactive Brokers?
What fees does Interactive Brokers charge?
What can I trade on Interactive Brokers?
Does Interactive Brokers offer negative balance protection?
How long does it take to open an account at Interactive Brokers?
Can I withdraw to a bank card on Interactive Brokers?
Does Interactive Brokers support W-8BEN forms for US stock trading?
Does Interactive Brokers have a demo account?
What is Interactive Brokers's Trustpilot rating?
How much does Interactive Brokers cost to trade US stocks?
Are EU clients covered by SIPC at Interactive Brokers?
Should I use IBKR Lite or IBKR Pro?
Interactive Brokers vs alternatives
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How we verified this review
Every fact below is verified against primary sources. We refresh on a schedule and on reader feedback.