Interactive Brokers
History of Interactive Brokers
Interactive Brokers is a renowned brokerage firm based in the United States, with its establishment dating back to 1978. With a rich history spanning over four decades, Interactive Brokers has expanded its operations to cover 125 global markets. The company executes nearly a million trades daily and boasts a capital exceeding $7 billion.
Founded by Thomas Peterffy, Interactive Brokers emerged from his acquisition of a seat on the American Stock Exchange (AMEX) in 1977. Recognized as a pioneer in computerized trading, Peterffy introduced groundbreaking solutions to the industry, such as the first portable computers for trading and automated order creation and submission to the market. In 1993, Interactive Brokers was established, and in 2014, it made history as the first platform to provide direct access to IEX.
Headquartered in Greenwich, Connecticut, Interactive Brokers operates through 24 offices across 12 countries, including a presence in Russia. The company is affiliated with NYSE, FINRA, SIPC, and other exchanges, operating under the regulatory oversight of the SEC and CFTC.
Trading Terms and Account Options
Interactive Brokers offers a diverse array of trading instruments, including stocks, options, futures, currencies, indices, and funds, accessible through a single account to facilitate seamless trading experiences.
Types of Accounts
The brokerage firm presents clients with a range of account options, such as individual, joint accounts, IRAs (Individual Retirement Accounts), trust accounts, and accounts tailored for institutional clients. Accounts can be categorized as cash or margin accounts, with the latter enabling trading using credit funds.
Minimum Deposit
Interactive Brokers has eliminated the requirement for a $10,000 minimum deposit, enabling traders to commence with as little as $100. However, maintaining an account balance below $2,000 may result in higher inactivity fees.
Trading Platforms and Order Execution
Interactive Brokers offers a selection of five distinct trading platforms, each catering to the unique needs of different trader categories. The company provides access to a wide range of orders and algorithms, tailored to suit various assets and transaction types.
Withdrawal Process and Customer Support
For fund withdrawals, clients are required to submit a formal request, with the first withdrawal within 30 days incurring no fees, while subsequent withdrawals may be subject to charges. Interactive Brokers offers customer support in Russian, facilitating communication via telephone.
Client Feedback and Referral Incentives
Interactive Brokers aggregates feedback from clients, encompassing both positive endorsements and constructive criticism. Clients commend the platform for its extensive range of trading instruments, competitive commissions, and other advantages, while also highlighting certain shortcomings. Additionally, the company features a referral program that rewards participants with bonuses for attracting new clientele.
This review has been prepared by the specialists at ExpertsReview.