Interactive Brokers won Best Trading Platform at the Good Money Guide Awards 2024 because of their institutional-grade platform that handles complex orders for professionals and institutions while also being accessible and simple for retail investors.
Expert Review
Name: Interactive Brokers
Description: Interactive Brokers is a major US online automated electronic broker company. The financial broker is listed on the Nasdaq Exchange with ticker IBKR. The firm operates in 150 electronic exchanges in 34 countries, and offers trading in 28 currencies. Interactive Brokers has more than 3.19 million institutional and retail customers.
Is Interactive Brokers any good?
Yes, Interactive Brokers is simply unmatched in terms of market access, account types and execution options for retail traders. It always has been and remains one of the cheapest trading and investing platforms globally.
Interactive Brokers is an exceptional trading platform that offers institutional-grade trading capabilities to private clients around the world. IBKR has some of the lowest trading and investing fees and the widest market range in the industry.
Pricing: Top marks as IBKR don’t charge a custody (account) fee and commission are the cheapest around
Market Access: Top marks again for the widest selection of markets available
App & Platform: Hard to beat – excellent range of institutional grade execution tools and simple apps for beginners
Customer Service: IBKR let themselves down a bit here. If you are a big customer you get an account manager, otherwise online support is slow
Research & Analysis: Some of the best education, screeners and market data for free on their website and integrated into IBKR platforms.
Pros
- Very low dealing fees
- Wide market range
- Direct market access
- Complex order types
Cons
- Customer services can be slow
- No financial spread betting
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