Page Summary
Interactive Brokers is a trustworthy online broker with an excellent proprietary platform and a professional mobile app. It offers some educational resources and reliable customer service. We recommend it for traders who want to improve their trading knowledge and experience.
| Interactive Brokers | Saxo Bank | TradeStation Global | |
|---|---|---|---|
| Web platform score | 4.5 stars | 5.0 stars | 4.5 stars |
| Mobile platform score | 3.8 stars | 5.0 stars | 3.8 stars |
| Fees | Low | Average | Low |
| Account opening score | 3.4 stars | 2.5 stars | 2.8 stars |
| Education score | 4.5 stars | 4.5 stars | 2.5 stars |
| Customer service score | 3.4 stars | 4.0 stars | 4.0 stars |
| Deposit and withdrawal score | 3.5 stars | 4.8 stars | 3.5 |
This article discusses whether Interactive Brokers is a good fit for new traders.
Interactive Brokers & Beginner-Friendly Services
Interactive Brokers is not a good fit for beginners, as its services are tailored for professional investors and traders. It offers access to a beginner-friendly web platform with safe authentication. However, the mobile app is challenging for new traders. Interactive Brokers has complex platforms designed for experienced users.
We review brokerage firms based on 105 criteria. Our results depend on many factors, including safety, tools, and ease of access.
This broker offers some educational materials, including platform tutorials and videos. It has a demo account to let you test its offering. Besides this, Interactive Brokers has a low minimum deposit and low transaction costs.
Safety
Safety is a key aspect we review. Interactive Brokers has top-tier licenses from the IIROC, FINMA, FSA, FCA, SFC, MAS, and CFTC. It provides access to secure authentication methods and platforms.
Final Verdict
Interactive Brokers is a top online broker recommended for advanced traders. It has excellent trading platforms with premium features and trading tools. Check our in-depth reviews to learn more about Interactive Brokers and its services.
Interactive Brokers compared to other brokers:
Interactive Brokers Review
Disclaimer
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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.