Overall, Interactive Brokers has a reputable reputation and offers traders user-friendly trading conditions. Interactive Brokers offers quality education material and research tools, Contracts for Difference (CFDs), and trading facilities on shares, forex, commodities, cryptocurrencies, ETFs, options, and indices to a global market.
Broker's Name | Interactive Brokers |
🏛️ Headquarters | Connecticut, United States and Budapest, Hungary for Central and Eastern Europe |
📅 Year Founded | 1978 |
⚖️ Regulating Authorities | CFTC, NFA, IIROC, FCA, CBI, ASIC, SFC, MNB, CSSF |
🌐 Countries not accepted for trade | Afghanistan, Burundi, Iran, Iraq, Somalia, and several others. |
☪️ Islamic account (swap-free) | No |
📒 Demo Account | Yes |
✴️ Institutional Accounts | Yes |
👨🏼💼 Managed Accounts | Yes |
⬆️ Maximum Leverage | 1:5 to 1:400 (ASIC Regulations) |
💰 Minimum Deposit | $0 |
💳 Deposit Options | Bank Wire Transfer and PayPal |
💳 Withdrawal Options | Bank Wire Transfer US Automated Clearing House (ACH) Transfer Initiated at Interactive Brokers Cheques Direct Debit/Electronic Money Transfer Canadian Electronic Funds Transfer, or EFT Single Euro Payment Area (SEPA) BACS/GIRO/ACH |
📊 Platform Types | Interactive Brokers’ Client Portal Desktop TWS IBKR Mobile IBot IBKR WebTrader (Only for IBKR Pro Accounts) IBKR APIs (Only for IBKR Pro Accounts) |
📶 OS Compatibility | Web browsers, Windows, MacOS, Linux, Android, iPhone, tablets, iPads |
📈 Tradable assets offered | Stocks Options Futures Forex Metals Bonds ETFs Mutual Funds Hedge Funds Robo Portfolios |
💬 Languages supported on Website | English, French, German, Spanish, Italian, Russian, Simplified and Traditional Chinese, Japanese |
💬 Customer Support Languages | Multi-lingual |
⏲️ Customer Service Hours | 24/5 |
Interactive Brokers Review – 17 Key Point Quick Overview
- ☑️ Interactive Brokers – Overview
- ☑️ Interactive Brokers Sign-Up Bonus
- ☑️ Interactive Brokers Minimum Deposit
- Interactive Brokers Accounts
- Interactive Brokers Islamic Account
- How to Open an Interactive Brokers Individual Account – Step By Step Guide
- Interactive Brokers Demo Account
- Interactive Brokers Trading Platforms
- Interactive Brokers Fees, Spreads, and Commissions
- Interactive Brokers Deposit Options and Withdrawal Types
- Interactive Brokers Best Countries by Traders
- Interactive Brokers vs eToro vs Saxo Bank – A Comparison
- Interactive Brokers Customer Reviews
- Interactive Brokers Affiliate Program
- Interactive Brokers Pros and Cons
- Conclusion
- Frequently Asked Questions
Min Deposit
USD 0
Regulators
CFTC, NFA, IIROC, FCA, CBI, ASIC, SFC, MNB, CSSF
Trading Platform
Proprietary Platforms
Crypto
Yes
Total Pairs
91
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Interactive Brokers – Overview
Interactive Brokers offers their clients a transparent trading environment, low commissions, and financing rates, coupled with online education and an award-winning trading platform. Interactive Brokers is fully regulated by multiple global authorities including the Hong Kong Securities and Futures Commission, the Financial Conduct Authority, and the Australian Securities and Investments Commission – to name but a few.
Interactive Brokers Sign-Up Bonus
Interactive Brokers does not, at this time (2025) make a Sign-up Bonus or Sign-Up incentive available to new applicants.
Interactive Brokers Minimum Deposit
In Short, there is no minimum required deposit to open a Cash Account at Interactive Brokers. However, due to the vast amount of account types on offer, certain accounts will require minimum deposits. For example, the Portfolio Margin account will require a minimum deposit of $110,000 USD / R1600, 000 ZAR (or the non-USD equivalent).
Min Deposit
USD 0
Regulators
CFTC, NFA, IIROC, FCA, CBI, ASIC, SFC, MNB, CSSF
Trading Platform
Proprietary Platforms
Crypto
Yes
Total Pairs
91
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Interactive Brokers Accounts
Interactive Brokers multiple account structures which are specifically designed to meet the needs of individual traders and investors. This includes Individual, joint, trust, IRA, and UGMA/UTMA accounts.
🔎 Account | 🥇 Individual | 🥈 Joint | 🥉 Trust | ☑️ IRA | ☑️ UGMA/UTMA |
🤝 Client Description | Single account holder | Two Account holders | Legally established entity. One party holds assets on behalf of another. | Individual Retirement account. Individual US Tax residents only. | Individual or Entity manages the account for a minor. US Residents only. |
📌 Account Description | Assets in Single account. | Assets in Single Account. | Single Account controlled by a Trustee. | Same as Individual account. | Single Account managed by a single Custodian. |
✅ Trading Access / Account Management | Full access to account holder. | Full access to account holders. | Full Access to one or more trustees. | Same as Individual account. | Full Access to Custodian. |
💰 Margin | Cash, Reg T and Portfolio Margin are available. | Same as Individuals. | Same as Individuals. | Same as Individuals. | Cash accounts only. Margin is not available |
🚀 Open an Account | Click Here | Click Here | Click Here | Click Here | Click Here |
As there is such a large selection of accounts available Account minimums will differ – Here is an overview of the Interactive Brokers Account Minimums.
Individual, Joint, Trust, and Org Accounts
💰 Account Fees | 🥇 IBKR Pro | 🥈 IBKR Lite |
💵 Account Minimums | $0.00 USD / R0.00 ZAR | $0.00 USD / R0.00 ZAR |
📌 Inactivity Fees | $0.00 USD / R0.00 ZAR | $0.00 USD / R0.00 ZAR |
🚀 Open an Account | 👉 Click Here | 👉 Click Here |
Advisor, Friends and Family, Family Office and Hedge Fund Investment Accounts
🔎 Account Structure | 💳 Monthly Inactivity Fee |
📌 Master Account | $0.00 USD / R0.00 ZAR |
📌 Client Accounts | $0.00 USD / R0.00 ZAR |
🚀 Open an Account | 👉 Click Here |
Broker Accounts
A $10,000 USD or non-USD equivalent will be needed upfront as a deposit and will be applied against commissions during the first 8 months.
⌛ Time Period | 💰 Required Min. Commissions |
📌 First 8 Months | $10,000 USD / R153,000 ZAR |
📌 Starting the 9th month | $2000 USD / R30,500 ZAR |
🔎 Account Structure | 💳 Monthly Inactivity Fee |
📌 Broker Client Accounts | $0.00 USD / R0.00 ZAR |
🚀 Open an Account | 👉 Click Here |
Proprietary Trading Group Accounts
🔎 Category | 💰 Min. Required Deposit |
🥇 Trading Group Masters | $10,000 USD / R153,000 ZAR |
🚀 Open an Account | 👉 Click Here |
Interactive Brokers Islamic Account
Interactive Brokers does not offer Muslim traders the option of converting a live trading account into that of an Islamic Account. However, Interactive Brokers Demo Accounts are available to Muslim investors who which to practice live trading in simulated conditions.
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
How to Open an Interactive Brokers Individual Account – Step By Step Guide
1. Step 1: Start the Application
The Process is started by clicking on the “Open Account” button on the right-hand side of the Interactive Brokers website.
2. Step 2: Username and Password
The applicant will be required to enter an email address and create both a username and password in order to continue.
Once this step has been completed, an account verification email will be sent to the email address supplied. in the email, there will be a link that needs to be clicked in order for the email address to be successfully verified.
3. Step 3: Log in
The email will redirect the applicant back to the Interactive Brokers webpage, where they will be prompted to log in with their newly created username and password.
4. Step 4: Particulars
The applicant will be required to fill in their particulars and select the individual account option. Take note – Take care when completing this section as it can not be changed.
5. Step 5: Account Type and Base Currency
The applicant will need to select their account type and base currency.
There are 3 Account Types to choose from:
Cash:
A Cash account type will require that the account holder has enough cash available to cover the cost of transactions plus commissions. The account holder will not be able to borrow funds in order to support their trading.
Margin:
This is a US regulatory-based margin account. The Margin account allows the account holder to borrow funds in order to support equities trading, stock shorting, full options trading, full futures/futures options trading, currency conversions, and securities/commodities trading in multiple currencies.
Portfolio Margin:
A Portfolio Margin account allows borrowing funds to support equities trading, stock shorting, full options trading, full futures/futures options trading, currency conversions, and securities/commodities trading on multiple currencies.
6. Step 6: Financial Instruments
In this step, the applicant will be required to select the type of Financial Instruments they wish to trade, and in which country they wish to do so.
Once this step has been completed the applicant will be required to complete sections on tax relevance plus read and agree to compliance agreements and disclosures.
7. Step 7: Identity and Adress Verification
This is the final step in the application process and the applicant will be required to submit documentation to verify their identity and address.
Once all the above-mentioned steps have been completed, the applicant will receive an account approval email. Take note, this is not an instant email and can take up to 7 working days.
Min Deposit
USD 0
Regulators
CFTC, NFA, IIROC, FCA, CBI, ASIC, SFC, MNB, CSSF
Trading Platform
Proprietary Platforms
Crypto
Yes
Total Pairs
91
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Interactive Brokers Demo Account
The Interactive Brokers Demo Account (Free Trail) allows traders to compare Interactive Brokers commissions, margins, and low financing charges to other potential broker choices – risk-free!
🔎 Account | 🥇 Demo Account |
✅ Trading Platforms | Access to All |
📊 Market Data | All Products |
⚙️ Trading Tools | Advanced |
🚀 Open an Account | 👉 Click Here |
The user will have the ability to strategies, products, exchanges, and order types with access to a large selection of advanced trading tools. Trading tools available include Probability Lab, Volatility Lab, Option Strategy Lab, Charts, Market Scanner, and the IB Risk Navigator. Furthermore, the Interactive Brokers Demo account provides market data for all products plus subscriptions to research services – cost-free.
Once the user is ready for live trading, the Interactive Brokers Demo account can be converted to a live trading account by simply selecting Log In – Finish an Application. Once the account is approved and funded, the demo account settings will seamlessly be transferred to the live account.
Interactive Brokers Trading Platforms
Client Portal
The Interactive Brokers client portal offers users all tools and features needed to monitor and manage their account, no download is needed. The client Portal homepage provides a streamlined view of the user’s account and gives access to every resource needed.
IB Trader Workstation (TWS)
The market maker-designed IB Trader Workstation (TWS) allows users to trade stocks, options, futures, currencies, bonds, and funds on over 135 markets worldwide from a single integrated account.
Mobile Trading App
The IBKR mobile app provides users with the functionality needed to trade and manage their account, any time, any place, and on the go.
Trading API Solutions
Trading API Solutions allows users to build custom trading applications and automate any part of the process.
Interactive Brokers Trading Platforms – Supported Products
🔎 Trading Platform | 🥇 Client Portal | 🥈 Trader Workstation | 🥉 Mobile | 📌 IBKR API |
📈 Stocks | Yes | Yes | Yes | Yes |
📉 Options | Yes | Yes | Yes | Yes |
📊 Futures | Yes | Yes | Yes | Yes |
📌 Spot Currencies | Yes | Yes | Yes | Yes |
📈 Warrants | Yes | Yes | Yes | Yes |
📉 Combinations | Yes | Yes | Yes | Yes |
📊 Bonds | Yes | Yes | Yes | Yes |
📌 Mutual Funds | Yes | Yes | Yes | Yes |
📈 Structured Products | ❌ No | Yes | Yes | Yes |
📉 Physical Metals | Yes | Yes | Yes | Yes |
📊 Inter-Commodity Spreads | ❌ No | Yes | ❌ No | Yes |
Interactive Brokers Trading Platforms – Trading Features
🔎 Trading Platform | 🥇 Client Portal | 🥈 Trader Workstation | 🥉 Mobile | 📌 IBKR API |
📈 Display Positions and PnL | Yes | Yes | Yes | Yes |
📉 IB SmartRouting SM | Yes | Yes | Yes | Yes |
📊 Simple Orders | Yes | Yes | Yes | Yes |
📌 Advanced Orders and Algos | No | Yes | No | Yes |
📈 Conditional Orders | No | Yes | No | Yes |
📉 Paper Trading | Yes | Yes | Yes | Yes |
📊 Customizable Workspace | No | Yes | Yes | No |
📌 Mutual Fund/ETF Replicator | No | Yes | No | No |
📈 Stock Loan Borrow (SLB) | No | Yes | No | No |
📉 Advanced Portfolio Management Tools | No | Yes | No | No |
📊 IB Risk Navigator SM | No | Yes | No | No |
📌 Backtesting | No | Yes | No | No |
Interactive Brokers Trading Platforms – Advanced Analysis
🔎 Trading Platform | 🥇 Client Portal | 🥈 Trader Workstation | 🥉 Mobile | 📌 IBKR API |
📈 Live/Delayed Market Data | Yes | Yes | Yes | Yes |
📉 Historical Market Data | Yes | Yes | Yes | Yes |
📊 Level II Market Data | No | Yes | Yes | Yes |
📌 Charting | Yes | Yes | Yes | No |
📈 Advanced Technical Analysis | No | Yes | Yes | No |
📉 Scanners | Yes | Yes | Yes | Yes |
📊 Advanced Fixed Income Scanner | No | Yes | No | Yes |
📌 Streaming News Services | Yes | Yes | Yes | Yes |
📈 IBKR Market Signals | Yes | Yes | Yes | No |
📉 Third-Party Research | Yes | Yes | Yes | No |
📊 Streaming Bloomberg TV | Yes | Yes | No | No |
📌 Dividend Schedules | No | Yes | No | No |
📈 Alerts | Yes | Yes | Yes | No |
📉 Options Analysis | No | Yes | No | No |
Min Deposit
USD 0
Regulators
CFTC, NFA, IIROC, FCA, CBI, ASIC, SFC, MNB, CSSF
Trading Platform
Proprietary Platforms
Crypto
Yes
Total Pairs
91
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Interactive Brokers Fees, Spreads, and Commissions
Interactive Brokers have low trading fees in general. The most important fees to take into consideration are commission, spread, and financing rates.
Classification of Interactive Brokers commission and trading fees
📈 Stock and ETF | Low |
📉 Forex | Average |
📊 Fund | Average |
📌 Bond | Low |
📈 Options | Average |
📉 Futures | Low |
📊 CFD | Average |
📌 Financing Rate | Low |
Interactive Brokers stock and ETF commission
📈 US Stock | $1.0 |
📉 German Stock | $3.6 |
📊 Indian Stock | $0.20 |
Interactive Brokers Forex Fees
💴 EUR/USD benchmark fee | $10.4 |
💵 GBP/USD benchmark fee | $8.3 |
💶 AUD/USD benchmark fee | $7.9 |
💷 EUR/CHF benchmark fee | $7.5 |
💴 EUR/GBP benchmark fee | $10.7 |
Interactive Brokers Fund Commissions
📌 Mutual Fund | $15.0 |
Interactive Brokers Bond Commissions
💰 US Treasury Bond | $5.0 |
📌 EU Gov. Bond | $10.0 |
Interactive Brokers Options Commissions
📈 US stock index options | $6.5 |
📉 US stock options | $6.5 |
📊 UK stock index options | $23.8 |
📈 German stock index options | $20.4 |
Interactive Brokers Futures Commissions
📈 US micro e-mini stock index futures | $2.5 |
📉 UK stock index futures | $23.8 |
📊 German e-mini stock index futures | $9.6 |
Interactive Brokers CFD fees
📈 S&P 500 index CFD fee | $2.8 |
📉 Europe 50 index CFD fee | $3.1 |
📊 Apple CFD | $1.1 |
📈 Vodafone CFD | $4.6 |
Interactive Brokers Financing Rates
📈 EUR/USD financing rate | 1.6% |
📉 GBP/USD financing rate | 1.0% |
📊 S&P 500 CFD financing rate | 1.6% |
📈 Europe 50 CFD financing rate | 1.5% |
📉 Apple CFD financing rate | 1.6% |
📊 Vodafone CFD financing rate | 1.6% |
Interactive Brokers non-trading fees
✅ Deposit Fee | $0 |
☑️ Withdrawal Fee | $0 |
✅ Account Fee | No |
☑️ Inactivity Fee | No |
Interactive Brokers Deposit Options and Withdrawal Types.
Traders must take note that a deposit notification will not actually move their funds and they must make arrangements with their bank or broker to deposit the funds. In regards to withdrawals, Traders must submit a one-time-only withdrawal request without using saved bank information or using previously saved bank information to do so.
✅ Deposit Methods | ✅ Withdrawal Types |
Wire | ACH By Us - Available for USD. |
Cheque | EFT – IB Canada - Available in CAD. |
Online bill payment cheque | SEPA By Us - Available in EUR. |
Automated Clearing House (ACH) transfer initiated at IB | Cheque - Available in USD. |
Canadian Electronic Funds Transfer (EFT) initiated by IB (Canada only) | Wire |
AUD Bill payment (BPAY - for Australian Dollars only) | |
Direct Rollover (IRA accounts only) | |
Trustee-to-Trustee (IRA accounts only) |
Interactive Brokers Best Countries by Traders
🌎 Country of Trade | 📌 % of Traders |
🥇 United States | 38.14 |
🥈 Canada | 13.75 |
🥉 Hong Kong | 3.63 |
Singapore | 3.41 |
Germany | 2.18 |
Interactive Brokers vs eToro vs Saxo Bank – A Comparison
🔎 Broker | 🥇 Interactive Brokers | 🥈 eToro | 🥉 Saxo Bank |
✅ Forex Trading | Yes | Yes | Yes |
☑️ CFD Trading | Yes | Yes | Yes |
🔁 Forex Pairs | 91 | 47 | 182 |
💰 Minimum Deposit | $0 USD / R0 ZAR | $10 - $200 USD / R160 - R3050 ZAR | $2,000 USD / R30,500 ZAR |
📌 Social Trading / Copy Trading | No | Yes | Yes |
1️⃣ Tier 1 Licenses | Yes | Yes | Yes |
2️⃣ Tier 2 Licenses | No | No | No |
3️⃣ Tier 3 Licenses | No | No | No |
📱 Mobile Trading | Yes | Yes | Yes |
🚀 Open an Account | 👉 Click Here | 👉 Click Here | 👉 Click Here |
Interactive Brokers Customer Reviews
Very Good and Responsive Support.
Very good and responsive support. I had a headache with other brokers to transfer some shares from a transfer agent service. They just guide me in the process to a successful transfer! Till now I am very satisfied! – Francois
Amazing Platform.
Amazing platform, client service, I think that TWS should have a minimalistic design, wherever amazing Broker. – Jonathan
Responsive.
Responsive, reliable, and highly competent. – Vishvam
Interactive Brokers Affiliate Program
The Interactive Brokers Refer a Friend program allows eligible IBKR clients to refer people to IBKR for flat fee payments. In order to qualify, the referrer must have an account with a net liquidation value of at least $2,000 and have placed at least one securities trade. As a referrer, the account holder will receive $200 for each referral, subject to program conditions. The referred in turn, can earn up to $1000 of IBKR stock, subject to program conditions.
Interactive Brokers Pros and Cons
✔️Pros | ❌Cons |
Wide range of products | Withdrawals and funding by bank transfer only |
Highly regulated | Better for experienced investors |
Trades on 80+ exchanges worldwide | Commission structure benefits high volume trades |
Min Deposit
USD 0
Regulators
CFTC, NFA, IIROC, FCA, CBI, ASIC, SFC, MNB, CSSF
Trading Platform
Proprietary Platforms
Crypto
Yes
Total Pairs
91
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Conclusion
Interactive Brokers is a reputable, fully and globally regulated online brokerage firm which not only has competitive commission rates but also has an extensive range of markets along with innovative technology.
Interactive Brokers makes provision for traders of all levels pertaining to experience, skill and knowledge. Most traders’ needs are fulfilled, if not exceeded with what Interactive Brokers has to offer.
You might also like: Interactive Brokers Account Types Overview
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Disclaimer
Trading financial instruments have a high level of risk that may not be suitable for all investors. Traders run the chance of losing more than their initial deposit and it is imperative that traders evaluate their objectives and their level of exposure to these risks.
Before trading, traders are advised to read the disclosures provided on the website, and should traders deem it necessary, they may seek professional, third-party advice before making decisions pertaining to trading in financial instruments, According to research in South Africa.
Frequently Asked Questions
Is Interactive Brokers a fake or scam?
Our review of Interactive Brokers reveal that this broker adheres to international regulatory requirements, is considered trustworthy and therefore not a scam.
Which platforms are supported by Interactive Brokers?
- Interactive Brokers’ Client Portal
- Desktop TWS
- IBKR Mobile
- IBot
- IBKR WebTrader (Only for IBKR Pro Accounts)
- IBKR APIs (Only for IBKR Pro Accounts)
What is Interactive Brokers Overall Review Rating?
The Overall Review rating for Interactive Brokers is 9/10.
How much is the minimum deposit for Interactive Brokers?
The minimum deposit for Interactive Brokers is $0 USD / R0 ZAR.
Does Interactive Broker have an Islamic (Swap Free) trading Option?
No. Interactive Brokers does not have an Islamic, Swap-Free Forex account option available.
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