Following on from an earlier post, I wanted to do a more in depth review of Interactive Brokers.

As I mentioned here I have been extremely happy with them since making the switch from TD Ameritrade. You should seriously consider switching to them, read on to find out why. Interactive Brokers, or IB as they are commonly known, were one of the early players in the electronic trading sphere.

They currently offer trading capabilities on just about any market with a very technically advanced trading platform known as the Trader Workstation.

So far, I have only used the platform to trade stocks and options, so that will be the focus of this article. IB have really low commissions on stock and option trades.

Interactive Brokers Review

I have had some pretty bad experiences with other brokers in the past with opening or transferring account, but with IB it was a breeze. All the forms can be filled in online and even signed by typing in your name. This was amazing as i really hate filling in pages and pages of documents which is usually what it takes. They are also one of the few brokers that allow residents of the Cayman Islands to open an account.

Probably not that relevant for most people reading this, but yay for me!! There are a multitude of recorded webinars and each month there are around live webinars. With IB you can trade stocks, options, forex, bonds, futures, commodities, warrants, structured products and mutual funds from the one account. In total there are over 90 global markets you can trade.

Thankfully, as mentioned above there are a lot of free tutorials and live webinars. They do have a live chat support system, but occasionally it can take minutes for someone to join your chat and even then they may not be able to answer your question. When he moved me to the other room, the chat froze and I had to close it down.

This interactive brokers option trading platform happened to best non market maker forex broker times. I guess interactive brokers option trading platform is the compromise you make for a low commission structure.

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This may prove to be restrictive for some people especially those just starting out. It has all the bells and whistles you need, but it is just not quite as slick as the charting packages offered on other platforms such as Think or Swim. However, one great feature of the chart package is that you can place trades and set stop loss levels directly on the chart screen with 2 mouse clicks. These can be things such as order cancellation fees, but they do also charge for certain types of market data and news services.

This is the main trading platform at Interactive Brokers, although they also have a slightly easier to use WebTrader platform. You are able to place virtually every type of order through their software and their system is excellent at tracking trades in your portfolio.

The main feature of the Trader Workstation is speed. You are also able to trade stocks, futures and options from the same platform. Value for money — 5 Stars Platform usability — 4 Stars Platform functionality — 5 Stars Customer Service — 3 Stars. Beginners may find it a little difficult, but given the amount of Webinars and the detailed help section on the website, you should be money supermarket advert £1000 man to get the hang of it fairly quickly.

There is a lot of functionality that is not available on many of the mainstream brokers and the commissions structure is probably the best you will find. Overall, I highly recommend them. Wow, great info, very detailed.

I had not heard of Interactive Brokers before. Would I have to sell all my positions? If you trade option spreads there are no cancellation fees. Ie an Iron Condor would not be subject to a cancellation fee. I actually found the commission to be on the high side, especially when you are taking liquidity.

I would use optionshouse or eoptions if you want to save on commissions. I tried a narrow butterfly trade on SPX with total of 40 contracts. Which means the fees comes to usd??

That commission seems much too high so there must be something else going on. Can you send me a screenshot of the trade log? All my withdrawal requests cancelled by broker. Stay away from that crap company! Does it apply to options? How much are they? Blog My Story Work With Me Contact. Read This Free Report Volatility Trading Made Easy - Effective Strategies For Surviving Severe Market Swings.

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