Interactive Brokers Review

Written by Jessica Inskip
Edited by Jeff Anberg
Reviewed by Blain Reinkensmeyer

July 01, 2025

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Jessica Inskip

Jessica Inskip is Director of Investor Research at StockBrokers.com, bringing 15 years of experience in brokerage and trading strategy. Jessica focuses on investor education and brokerage industry research.

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For advanced traders who, like me, crave institutional-grade tools and data, Interactive Brokers feels like stepping into a professional’s playground. Want to optimize your taxes or measure your portfolio’s Sharpe ratio, standard deviation, alpha, beta, or even correlation? You can.

The IBKR platform screams "professional trader" in every way. From tax optimization and portfolio risk analysis to its in-depth learning resources and mobile trading tools, Interactive Brokers is built for those who treat trading like both an art and a science. If you’re an advanced trader looking for a platform that truly speaks your language, this is your space.

verified#1 Margin Trading

• Minimum Deposit: $0.00
• Stock Trades: $0.00
• Options (Per Contract): $0.65

Ratings Awards Historical Rankings

5.0

OVERALL SCORE info

Range of Investments
Mobile Trading Apps
Platforms & Tools
Research
Education
Ease of Use
Customer Service

Check out StockBrokers.com's picks for the best stock brokers in 2025.

#1 Range of Investments	Winner
#1 Active Traders	Winner
#1 International Trading	Winner
#1 Trader App	Winner
#1 Ethical Investing	Winner
#1 Professional Trading	Winner
#1 Margin Trading	Winner

2025	#2
2024	#5
2023	#6
2022	#5
2021	#4
2020	#5
2019	#5
2018	#5
2017	#6
2015	#9
2014	#13
2013	#10
2012	#14
2011	#7

Table of Contents

Pros & cons

My top takeaways for Interactive Brokers in 2025:

• Lowest margin rates in the industry: Interactive Brokers continues to lead with unbeatable margin rates, a significant advantage for active and professional traders.
• Unmatched global access: With access to over 150 markets and 27 currencies, IBKR is perfect for investors looking to diversify globally.
• Advanced platform, steep learning curve: The Trader Workstation (TWS) and other platforms are packed with INCREDIBLE features, but new users may face a learning curve before fully benefiting from its capabilities.

Range of investments

Interactive Brokers sets the standard for investment offerings, leading the industry with access to more than 150 markets in over 200 countries. It’s the most extensive lineup we’ve seen, and Interactive Brokers consistently stays ahead by rolling out innovative features that redefine self-directed investing.

Take 24-hour trading, for example. While it might sound like an added benefit for domestic night owls, it’s actually a significant advantage for global traders. The ability to trade around the clock is critical for foreign investors accessing U.S. markets. With growing adoption by other brokerages, liquidity is improving which is an essential ingredient for what makes a market. For the global investor, even cryptocurrency trading is available, with some of the lowest costs in the industry. Interactive Brokers’ forex trading is also unparalleled for exchanging currencies with ease and low fees.

Forecast Contracts have recently been added to the mix, offering a new way to trade on market-impacting questions like “Will inflation rise above 4%?” or “Will the Fed cut rates this quarter?” Available nearly 24 hours a day, six days a week, these contracts let you express views on real-world outcomes without holding a traditional asset. While still emerging, this category blurs the line between speculation and hedging, and adds another layer to Interactive Brokers’ already expansive product suite.

Then there are prediction markets, the newest product emerging in the self-directed investing space. These tools allow you to hedge against event risk, like inflation or election outcomes. From my perspective, these tools have enormous potential when used thoughtfully, much like options trading. They can protect or enhance your portfolio, but they can also amplify losses if used purely for speculation. It’s a high-stakes balancing act, and understanding the risks is key. Personally, I’m not a fan of this new trend.

Interactive Brokers doesn’t just shine in niche offerings; its overall lineup is incredibly extensive. Stocks, funds, fixed income, forex, options, futures and so much more are all here, supported by comprehensive tools that elevate portfolio management to an institutional grade. The self-directed industry is evolving rapidly, and Interactive Brokers is leading the way.

Feature	Interactive Brokers
Stock Trading info	Yes
Margin Trading info	Yes
Fractional Shares info	Yes
OTC Stocks info	Yes
Options Trading info	Yes
Complex Options Max Legs info	6
Bonds (US Treasury) info	Yes
Futures Trading info	Yes
Forex Trading info	Yes
Mutual Funds (Total) info	11456
Crypto Trading info	Yes info
Crypto Trading - Total Coins info	11 info
Traditional IRAs info	Yes
Roth IRAs info	Yes
Advisor Services info	No

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Interactive Brokers fees

Interactive Brokers offers two pricing plans: IBKR Pro, designed for professionals, and IBKR Lite, perfect for casual investors. Both plans are competitive, but they cater to different types of traders based on their needs.

IBKR Lite: With IBKR Lite, all U.S. stock and ETF trades are $0, and there are no market data fees. Options trades come in at $0.65 per contract. Like other $0 commission plans, IBKR Lite makes money through payment for order flow (PFOF), which can result in slightly lower-quality order executions. That said, the impact is minimal — just a few pennies per $1,000 traded — so retail investors shouldn’t lose sleep over it.

IBKR Pro: For those heavy traders who want superior order execution, IBKR Pro is the way to go. Stock trades start at $0.0035 per share (with a $0.35 minimum), and the more you trade, the less you pay. High-volume traders can drive costs down to a low $0.0005 per share. Options are tiered, with rates ranging from $0.65 to $0.25 per contract based on the premium. The best part? IBKR Pro doesn’t accept PFOF, ensuring quality executions which is a major win for serious traders and relatively unique in the industry (Fidelity is the only other major broker not accepting PFOF).

Margin Rates: Let’s talk about one of Interactive Brokers’ most compelling features: they offer some of the lowest margin rates in the industry. The exact percentage charged will depend on the currency, account type, and amount of the loan. For margin loans in USD, IBKR Lite charges the benchmark rate plus 2.5% while IBKR Pro has a blended tier based on the size of the loan: the benchmark rate plus 1.5% on the first $100,000 down to benchmark plus 0.5% on amounts over $50 million. In January 2025, for USD amounts under $100,000, this means the margin rate for IBKR Lite would be 6.830% and 5.830% for IBKR Pro. This is much less than the rates charged by other prominent brokers like Fidelity or Charles Schwab.

Mutual Funds and Penny Stocks: Interactive Brokers offers over 48,000 mutual funds globally, with over 11,000 in the U.S., and more than 4,000 of those are ticket charge-free. For others, the fee is either 1.5% of the trade value or $14.95, whichever is less — still better than most brokers. However, IBKR Pro isn’t ideal for penny stock traders, as per-share commissions can add up quickly.

Feature	Interactive Brokers
Minimum Deposit info	$0.00
Stock Trades info	$0.00
Penny Stock Fees (OTC) info	$0.01
ETF Trade Fee info	$0.00
Options (Per Contract) info	$0.65
Options Exercise Fee info	$0.00
Options Assignment Fee info	$0.00
Futures (Per Contract) info	$0.85
Mutual Fund Trade Fee info	$14.95 info
Broker Assisted Trade Fee info	Varies

Mobile trading apps

Interactive Brokers doesn’t just offer a single mobile app — it offers three, each tailored to a different type of investor: IBKR Mobile, GlobalTrader, and Impact.

IBKR Mobile: Let’s start with the star of the show. IBKR Mobile is hands-down one of the most comprehensive mobile trading apps I’ve tested. Almost everything from the web experience is available here: detailed quotes, watchlists, and even advanced trade tickets. Speaking of trade tickets, this was one of the most advanced stock trade tickets I’ve seen on a mobile app. You can even set up recurring investments directly in the app. And let’s talk options for a moment. I never trade options on mobile. It’s too clunky and usually lacks the tools I need. But with IBKR Mobile, I might just change my stance. The options chain, wizard, and analyzer were seamless, with all the data points a picky trader like me requires.

• Watchlists and Quotes: The watchlist was a standout feature for me. I could add over 50 fields, including my beloved forward P/E ratio, which few apps include. Almost all the data available on the web platform was accessible here as well.
• Charting: Charting is robust, with over 90 indicators, 80 drawing tools, and easy customizations. I loved that my chart markups were saved to the cloud, so I could seamlessly switch between devices.

Interactive Brokers’ flagship mobile app puts professional-grade tools at your fingertips with its fully-loaded Toolbox feature. Investors can access AI-powered trade ideas, options strategies, tax optimization tools, auto-investing, crypto trading, and market scanners, all in one place. This mobile experience makes it easy to manage sophisticated strategies on the go, rivaling many desktop platforms.

GlobalTrader: If you’re new to investing or want easy access to global markets, GlobalTrader is a fantastic option. Fractional shares, foreign stocks, and even options trading are available, all in a beautifully simple interface. Everything is laid out clearly, making it perfect for beginners or anyone dabbling in international markets.

Impact: The Impact app focuses on ESG investing and is a breath of fresh air in this space. You choose what matters most to you, such as clean energy or opposition to animal testing, and the app curates companies that align with those priorities. Even better, the "swap" feature lets you adjust your portfolio in one click to align with your values. Plus, the Impact dashboard assigns your portfolio an A-F grade based on your chosen values. For socially conscious investors, this app is essential.

Feature	Interactive Brokers
iPhone App info	Yes
Android App info	Yes
Apple Watch App info	Yes
Stock Alerts info	Yes
Charting - After-Hours info	Yes
Charting - Technical Studies info	97
Charting - Study Customizations info	Yes
Watch List (Streaming) info	Yes
Watch Lists - Create & Manage info	Yes
Watch Lists - Column Customization info	Yes

Trading platforms

In my view, Interactive Broker’s features and tools redefine how professional traders interact with data. What stood out to me were its innovative screening tools that blend factors in a way most platforms don’t, its personalized approach to impact investing, and its deep analysis tools powered by the kind of data you’d expect from a leader like IBKR.

IBKR Desktop: IBKR Desktop is a downloadable platform designed for advanced traders, and it delivers on every front.

Let’s start with the new MultiSort Screener. Traditional screeners often limit you to an equal weight of filters, leaving you to sift through multiple lists to find securities that fit your strategy. MultiSort redefines that approach with both a qualitative and quantitative lens. It allows you to select up to 10 factors, like price-to-earnings ratio, dividend yield, and beta, and then weights them according to your priorities. For example, if I prioritized a high dividend yield over lower volatility, MultiSort could blend those factors into a single score and rank securities accordingly. In seconds, it produced a list tailored precisely to my preferences.

Interactive Brokers’ MultiSort Screener takes stock screening to the next level by letting users assign custom weightings to each selection criteria. Beyond traditional filters like P/E ratio or dividend yield, investors can prioritize what matters most, whether it’s earnings growth, valuation, or analyst ratings. This advanced screening tool helps surface results that truly match your personal investment strategy.

Jessica's take:

"A standout feature is the options lattice view. This innovative tool overlays a stock’s 30-day price history with visual "bubbles" that represent option volume, open interest, or implied volatility. Instead of scrolling through rows of data, you can instantly see where activity is concentrated across expirations and strike prices."

Jessica Inskip

Customization is another strength of IBKR Desktop. The platform supports up to eight charts at once, all of which can be edited on the fly. Whether I needed to adjust indicators, add trendlines, or switch between time frames, it was seamless. For multi-leg options strategies, the strategy builder paired with advanced order types, including algorithmic orders, made execution effortless. It’s clear IBKR’s platform is built for traders who need precision and flexibility.

Trader Workstation (TWS): TWS is a playground for seasoned traders, packed with tools like Algo Trading, Options Strategy Lab, Volatility Lab, Risk Navigator, Market Scanner, and Strategy Builder. Watchlists are highly versatile, accommodating virtually any asset you trade: everything from equities and options contracts to futures, forex, and warrants. With hundreds of customizable data points, you can tailor the platform to fit your exact needs.

Interactive Brokers offers one of the most comprehensive watchlists in the industry, available on both its web and desktop trading platforms. This screenshot highlights the desktop experience, where investors can track real-time quotes, market data, and customizable columns across multiple asset classes.

Additional features worth mentioning:

IBKR’s Tax Optimizer is designed for the tax-sensitive investor. I loved the ability to adjust lots, switch between tax methods (like FIFO), and request dividend vouchers. It’s all supported by a clear user guide, a necessity for tacking anything in the tax world.

The Impact Dashboard tool asked me what mattered most, things like racial equality, emissions reduction, and LGBTQ+ inclusion, and helped me align my investments accordingly. I could even flag things I didn’t want, like animal testing or greenhouse gas emissions. The experience felt tailored across the experience, thoughtful, and completely aligned with modern investors’ values.

The Advisor Portal combines powerful portfolio management tools with client account features, making it a superb feature for professionals. The Rebalance and Tax Loss Harvesting tools simplify complex portfolio adjustments with just a few clicks. The AI Commentary Generator deserves a special mention. It’s a game-changer for U.S.-based advisors, creating detailed portfolio performance reports and market commentary in seconds. Imagine pulling in insights on your five best and worst-performing holdings, market news, and macroeconomic trends almost instantaneously instead of an hour of research. For advisors managing multiple clients, this tool would be an incredible time-saver.

Feature	Interactive Brokers
Active Trading Platform info	Trader Workstation (TWS)
Desktop Trading Platform info	Yes
Desktop Platform (Mac) info	Yes
Web Trading Platform info	Yes
Paper Trading info	Yes
Trade Journal info	Yes
Watch Lists - Total Fields info	659
Charting - Indicators / Studies info	155
Charting - Drawing Tools info	85
Charting - Study Customizations info	6
Charting - Save Profiles info	Yes
Trade Ideas - Technical Analysis info	Yes
Streaming Time & Sales info	Yes
Trade Ideas - Backtesting info	Yes

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Research

Interactive Brokers provides a comprehensive suite of research tools, with tools useful to both casual investors and seasoned traders. For everyday investors, the Fundamentals Explorer within the Client Portal is a fantastic resource, while professionals will feel right at home with Trader Workstation (TWS) or IBKR Desktop.

When researching markets, investors often lean toward either fundamental or technical analysis, but I’ve found that a healthy balance between the two yields the best results. IBKR excels in the technical department, thanks to its professional-grade platforms, but I wanted to test its ability to help me understand the market’s movements, generate ideas, and validate them through a more fundamentals-leaning lens.

Interactive Brokers takes opinion research to the next level with its à la carte vendor selection, offering insights from nearly every major provider. The result? An overwhelming but incredibly comprehensive library of reports. Personally, I prefer an extensive database like this.

For example, when CPI data was released, I had to navigate multiple layers: first selecting the inflation topic and then finding research reports and commentary. I did appreciate the Trader’s Insights section, which adds community-driven integration to the research experience, and I loved the new feature allowing me to save research for later reading.

Interactive Brokers’ Traders’ Insight delivers expert market commentary from lead strategists, covering global markets, asset classes, and economic trends. This research hub goes beyond static reports by allowing readers to comment and engage with other traders, making it a dynamic community for sharing insights. It’s a valuable resource for anyone looking to stay informed and connect with like-minded investors.

IBKR’s research on stocks and funds is comprehensive, with key ratios, financial trends, and even an impact section tailored to your personal values (incorporating the same insights as the Impact Investing tool). The financials are beautifully presented with YoY changes and trends, while the Analyst Forecasts section offers everything needed to gauge future performance. Unfortunately, I did have to manually calculate the forward P/E ratio but this is a problem every brokerage firm seems to have.

The depth of information extends to funds as well. When analyzing QQQ, for instance, I found Morningstar’s critique of its exclusion of NYSE-listed securities incredibly invaluable for the everyday investor. (Did you know that QQQ, an index tracking the Nasdaq 100, is a flawed view of the technology sector as it only includes Nasdaq-listed securities?). However, I did find the forward estimates for the funds!

For broader market research, IBKR shines with its market overview page, featuring major indices, top gainers and losers, and a “why is it moving” section for top performers. I love the integration of smart text.

Last, but certainly not least, is the PortfolioAnalyst tool. This is what truly sets IBKR apart for research: its portfolio-level integration and monitoring which elevates its research tools to institutional grade.

One of my favorite features, reminiscent of a Bloomberg terminal, is the portfolio performance reporting. PortfolioAnalyst lets me see how my portfolio stacks up against a benchmark, breaking down performance drivers like stock picking, sector allocation, or market timing. And unlike Bloomberg, which costs over $24,000 a year, IBKR offers this feature for free. Better yet, it’s available even to non-clients, allowing users to consolidate accounts from over 15,000 financial institutions and run detailed reports.

Feature	Interactive Brokers
Research - Stocks info	Yes
Stock Research - ESG info	Yes
Stock Research - PDF Reports info	15 info
Screener - Stocks info	Yes
Research - ETFs info	Yes
Screener - ETFs info	Yes
Research - Mutual Funds info	Yes
Screener - Mutual Funds info	Yes
Research - Pink Sheets / OTCBB info	Yes
Research - Bonds info	Yes

Education

When I dove into Interactive Brokers’ Trader’s Academy and the IBKR Campus, I was immediately impressed by the structure and depth. The courses are thoughtfully designed, blending videos, written explanations, related terms, and practical applications.

I like to assess education on the basics as well as the advanced offerings. IBKR offered an Introduction to the Stock Market course. It walks you through the basics with a logical flow and even ends with a platform tutorial, tying education directly to action. That said, it left me wanting more micro-level details. Questions like “What is a stock?” felt implied but not explicitly answered. Still, the macro focus was strong, and the integration of impact investing concepts into the learning materials was very welcome.

What really stood out to me about Trader’s Academy was the community integration. Rather than embedding it into the trading platform as I find at other smaller brokerage firms, which can create compliance headaches, Interactive Brokers smartly tied it to the educational content. Being able to see comments, related resources, and practical applications within the courses added an interactive layer that I loved.

Interactive Brokers’ Traders' Academy is a comprehensive education hub covering everything from beginner investing basics to advanced trading strategies. Organized by product type and skill level, the platform even offers accredited courses designed for financial professionals seeking continuing education.

It’s clear that IBKR is committed to empowering investors with knowledge, and for the most part, they’ve delivered. This is one of the best educational platforms that I have seen at a brokerage firm.

Feature	Interactive Brokers
Education (Stocks) info	Yes
Education (ETFs) info	Yes
Education (Options) info	Yes
Education (Mutual Funds) info	Yes
Education (Bonds) info	Yes
Education (Retirement) info	Yes
Paper Trading info	Yes
Videos info	Yes
Webinars info	Yes
Webinars (Archived) info	Yes
Progress Tracking info	Yes
Interactive Learning - Quizzes info	Yes

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Banking services

One arena where Interactive Brokers does fall short is in offering banking services. As of May 1, 2024, they discontinued their U.S. Debit Card and Bill Pay services, narrowing their focus to investment-centric offerings. While they do provide a cash account, it’s not what I’d consider a true banking solution as it’s a tradable, investable cash account like what you’ll find at most brokerage firms. If you’re looking for flexible cash management features or traditional banking options, this is not the broker you’d want to pick.

Feature	Interactive Brokers
Bank (Member FDIC) info	No
Checking Accounts info	No
Savings Accounts info	No
Credit Cards info	No
Debit Cards info	No
Mortgage Loans info	No

Customer service

To score Customer Service, StockBrokers.com partners with customer experience research firm Confero to conduct phone tests from locations throughout the United States. For this year's testing, 130 customer service tests were conducted over six weeks, with wait times logged for each call.

Customer service representatives were asked for assistance or details for prospective customers in several areas of broker services, including account opening, trading tools, apps, rollovers, active trading, and more. Here are the results for Interactive Brokers.

• Average Connection Time: Under a minute.
• Average Net Promoter Score: 7.4 / 10
• Average Professionalism Score: 6.6 / 10
• Overall Score: 7.50 / 10
• Ranking: 9th of 13

Final thoughts

Interactive Brokers is a standout platform for investors who prioritize low costs, advanced institutional-grade tools, and global market access. From their industry-leading margin rates to their robust trading platform, IBKR has something for every serious investor. That said, the complexity and steep learning curve mean it’s best suited for those willing to invest time in mastering the platform. While IBKR isn't my top pick for beginners, I love its educational offering; simply put, it's one of the best educational platforms I've seen at a brokerage firm. IBKR also offers features and pricing that few others can match.

Interactive Brokers Star Ratings

Feature	Interactive Brokers
Overall
Range of Investments
Mobile Trading Apps
Platforms & Tools
Research
Customer Service
Education
Ease of Use

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About the Editorial Team

Jessica Inskip is Director of Investor Research at StockBrokers.com, bringing 15 years of experience in brokerage and trading strategy. A former FINRA-licensed rep, she held Series 7, 63, 66, and 4 licenses. Jessica focuses on investor education and brokerage industry research, appears regularly on CNBC, Fox Business, and Bloomberg, and hosts the Market MakeHer podcast.

Jeff Anberg is a Senior Editor at StockBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.