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|
|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 their offering. Besides this, Interactive Brokers has a low minimum deposit and low transaction costs.
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.
Interactive Brokers is a top online broker in 2021 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:
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Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.
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All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.