Best Brokers

Interactive Brokers

TD Ameritrade

0.1

Interactive Brokers

Interactive Brokers was founded in 1978 and is one of the biggest US-based discount brokers. The broker is regulated by several financial authorities globally, including top-tier ones like the UK’s Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).

 

As it has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. Having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.

 

Recommended for traders looking for low fees and a professional trading environment

Pros

Low trading fees

Wide range of products

Many great research tools

Cons

Complicated account opening process

Complex desktop trading platform

High forex fees

Fees

Interactive Brokers has low trading fees; for US clients, stock and ETF trading is free. On the negative side, there is a high inactivity fee for non-US clients.

Pros

Low trading fees

Free stock and ETF trading for US clients

Low margin rates

Cons

Inactivity fee

Interactive Brokers fees

Fees

IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated, and account verification takes relatively long

Pros

Low trading fees

Free stock and ETF trading for US clients

Low margin rates

Cons

Inactivity fee

Not user-friendly

Interactive Brokers minimum deposit and time to open an account

Deposit and withdrawal

Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawback is that you can only use bank transfer.

Pros

Low trading fees

Free stock and ETF trading for US clients

Low margin rates

Cons

Inactivity fee

Interactive Brokers fees

Verdict

Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawback is that you can only use bank transfer. Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker mainly for advanced traders.

 

On the plus side, IB has low fees, a vast range of available markets and products, and diverse research tools.

 

There are some drawbacks, though: there is a high forex fees, and the account opening process is complicated. The desktop platform is complex and hard to get a handle on, especially for beginners.

TD Ameritrade

E*Trade

Fidelity

Charles Schwab

What makes a good online broker

0.2

TD Ameritrade

Interactive Brokers was founded in 1978 and is one of the biggest US-based discount brokers. The broker is regulated by several financial authorities globally, including top-tier ones like the UK’s Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).

 

As it has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. Having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.

 

Recommended for traders looking for low fees and a professional trading environment

Pros

Low trading fees

Wide range of products

Many great research tools

Cons

Complicated account opening process

Complex desktop trading platform

High forex fees

Fees

Interactive Brokers has low trading fees; for US clients, stock and ETF trading is free. On the negative side, there is a high inactivity fee for non-US clients.

Pros

Low trading fees

Free stock and ETF trading for US clients

Low margin rates

Cons

Inactivity fee

Interactive Brokers fees

Fees

IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated, and account verification takes relatively long

Pros

Low trading fees

Free stock and ETF trading for US clients

Low margin rates

Cons

Inactivity fee

Not user-friendly

Interactive Brokers minimum deposit and time to open an account

Deposit and withdrawal

Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawback is that you can only use bank transfer.

Pros

Low trading fees

Free stock and ETF trading for US clients

Low margin rates

Cons

Inactivity fee

Interactive Brokers fees

Verdict

Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawback is that you can only use bank transfer. Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker mainly for advanced traders.

 

On the plus side, IB has low fees, a vast range of available markets and products, and diverse research tools.

 

There are some drawbacks, though: there is a high forex fees, and the account opening process is complicated. The desktop platform is complex and hard to get a handle on, especially for beginners.