This is not investment advice. The information provided is for educational and informational purposes only and does not constitute a recommendation to buy or sell any financial product.
Interactive Brokers (IBKR) is the broker of choice for professional and advanced retail traders who need global market access, the lowest margin rates, and a powerful trading platform. The broker serves over 2.5 million client accounts across 150 markets in 33 countries.
Fees
| Fee Type | IBKR Pro | IBKR Lite |
|---|---|---|
| Stock/ETF commission | $0.005/share (min $1) | $0 (PFOF) |
| Options | $0.65/contract | $0.65/contract |
| Margin rate (USD) | 5.83% (benchmark + 1.5%) | 6.83% |
| Inactivity fee | $0 | $0 |
| Account minimum | $0 | $0 |
IBKR Pro offers tiered pricing based on volume and uses smart routing to find the best price. IBKR Lite is the commission-free tier aimed at casual investors. The margin rates are consistently the lowest in the industry.
Platform and tools
The Trader Workstation (TWS) desktop platform is one of the most powerful in the industry. It supports advanced order types, algorithmic trading, options strategy builders, fundamental and technical scanners, and a customizable multi-monitor layout. The learning curve is steep, but the capabilities are unmatched.
The IBKR mobile app and the Client Portal web platform are simpler and more beginner-friendly. Third-party integrations include TradingView charts, and the API supports Python, Java, C++, and Excel for algorithmic trading.
Product range
Interactive Brokers offers the broadest product range of any broker: stocks, ETFs, options, futures, futures options, forex, bonds, mutual funds, and crypto (via Paxos). You can trade on exchanges in 33 countries and hold accounts in multiple currencies.
Regulation and safety
IBKR is regulated by the SEC, FINRA, NYSE, FCA (UK), and multiple other global regulators. SIPC coverage protects up to $500,000. The broker carries an additional $30 million insurance policy through Lloyd's of London. Read the full safety analysis.
Pros and cons
Pros: Lowest margin rates, broadest global market access, powerful TWS platform, excellent API, multi-currency accounts, strong regulatory coverage.
Cons: Steep learning curve for TWS, IBKR Lite uses PFOF (wider spreads), customer support can be slow for small accounts, the interface can feel dated.
Is Interactive Brokers right for you?
Interactive Brokers is the best choice for active traders and international investors who need institutional-grade tools and the lowest borrowing costs. Beginners may find TWS overwhelming, but IBKR Lite provides a gentler entry point.
Compare IBKR against other brokers in our comparisons. If you are new to investing, start with the best brokers for beginners.
Common questions
What is the difference between IBKR Pro and IBKR Lite? IBKR Pro uses tiered pricing and smart routing for professional execution. IBKR Lite offers commission-free trading but uses PFOF, which may result in a slightly wider spread.
Does Interactive Brokers have an account minimum? No minimum to open an account, but margin accounts require a $2,000 minimum as per FINRA rules.
Is Interactive Brokers good for beginners? The platform is complex, but IBKR Lite and the Client Portal are simple enough for a motivated beginner. There are easier options for absolute beginners.