Interactive Brokers (IBKR) was founded in 1977 by Thomas Peterffy, a pioneer of electronic trading. What started as a market-making firm has grown into the most powerful retail brokerage available — offering access to 150+ global markets, the lowest margin rates in the industry, and professional-grade tools that rival institutional platforms. This review covers what IBKR offers, who it’s built for, and where it falls short for everyday investors.
Bottom line: Interactive Brokers is the best brokerage for advanced traders, international investors, and anyone who needs low margin rates. It’s overkill (and overwhelming) for casual investors who just want to buy index funds.
Interactive Brokers at a Glance
Feature
IBKR Lite
IBKR Pro
US stock/ETF commissions
$0
$0.005/share ($1 min)
Options
$0.65/contract
$0.15-$0.65/contract (tiered)
Futures
—
$0.25-$0.85/contract
Forex
—
0.08-0.20 bps (tiered)
Global markets
Limited
150+ markets, 34 countries
Margin rate
Higher
5.33-6.83% (lowest tier)
Account minimum
$0
$0
Fractional shares
Yes
Yes
Mobile app
4.2/5 (iOS)
Same app
Desktop platform
IBKR Desktop
Full Trader Workstation (TWS)
Payment for order flow
Yes
No
Global Market Access
This is IBKR’s defining feature. No other US retail brokerage comes close.
Region
Markets Available
Example Exchanges
North America
10+
NYSE, NASDAQ, TSX, BMV
Europe
15+
LSE, Euronext, XETRA, SIX
Asia-Pacific
10+
TSE (Tokyo), HKEX, ASX, NSE India
Other
5+
Tel Aviv, Johannesburg, Mexico
What You Can Trade Globally
Asset
Available
Stocks
150+ markets
Options
30+ markets
Futures
35+ markets
Forex
23 currencies
Bonds
US, European, Asian
Mutual funds
40,000+
ETFs
13,000+ globally
CFDs
Yes (non-US accounts)
Crypto
Yes (via Paxos for US)
Accounts Available
Account Type
Available
Notes
Individual brokerage
✅
—
Joint brokerage
✅
With/without survivorship
Traditional IRA
✅
—
Roth IRA
✅
—
SEP-IRA
✅
—
SIMPLE IRA
✅
—
Solo 401(k)
❌
—
529 plan
❌
—
HSA
❌
—
Custodial (UGMA/UTMA)
✅
—
Trust
✅
—
LLC / corporate
✅
Unique for retail brokers
Advisor master account
✅
For RIAs and financial advisors
Friends & Family
✅
Manage multiple linked accounts
Unique: IBKR offers entity accounts (LLC, corporate, partnership) and advisor accounts — features most retail brokerages don’t provide.
Fees Breakdown
Commission Comparison: Lite vs Pro
Trade Type
IBKR Lite
IBKR Pro (Tiered)
IBKR Pro (Fixed)
US stocks
$0
$0.0035/share ($0.35 min)
$0.005/share ($1 min)
US ETFs
$0
$0.0035/share ($0.35 min)
$0.005/share ($1 min)
US options
$0.65/contract
$0.15-$0.65/contract
$0.65/contract
Futures
N/A
$0.25-$0.85/contract
$0.85/contract
Forex
N/A
0.08-0.20 bps
0.20 bps
Margin Rates vs Competitors
Balance
IBKR Pro
Fidelity
Schwab
E*TRADE
$25,000
5.83%
11.325%
12.075%
12.70%
$100,000
5.83%
10.075%
10.575%
11.20%
$500,000
5.33%
8.325%
9.575%
10.20%
$1,000,000+
5.33%
8.325%
8.575%
9.20%
For a $100,000 margin balance, IBKR saves $4,000-$6,800/year compared to major competitors.
Other Fees
Fee
Amount
Account maintenance
$0
Market data (US basic)
Free
Market data (US premium)
$1.50-$14.50/month
International market data
$1-$25/month per exchange
Wire transfer (outgoing)
1 free/month, $10 after
Account transfer (ACAT out)
$0
Inactivity fee
$0
Trader Workstation (TWS)
Feature
Rating
Charting
Excellent — 120+ studies, multi-timeframe
Options analytics
Excellent — Greeks, vol surface, strategy builder
Order types
Unmatched — 100+ including algos
Scanning / screening
Excellent — real-time market scanner
Risk management
Excellent — portfolio margin, risk navigator
Backtesting
Available
Paper trading
Yes — full simulation
Learning curve
Steep — designed for professionals
Overall
5/5 for power users, 2/5 for beginners
IBKR Desktop and Mobile
IBKR also offers simplified interfaces:
Platform
Target
Rating
Trader Workstation (desktop)
Professional traders
5/5 power, 2/5 ease
IBKR Desktop (new)
Intermediate investors
3.5/5 (improved in 2025)
IBKR Mobile
All users
3.5/5 (functional, not beautiful)
The new IBKR Desktop application is a significant improvement — cleaner layout, simplified trading, and better portfolio visualization. It bridges the gap between TWS complexity and modern app expectations.
WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.
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