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Score
Hong Kong
Above 20 yearsRegulated in Australia
Market Making(MM)
Self-developed
Global Business
Australia Investment Advisory License Revoked
Suspicious Overrun
High potential risk
Capital Ratio
Influence
Add brokers
Comparison
Quantity 13
Exposure
Score
Regulatory Index9.51
Business Index9.32
Risk Management Index0.00
Software Index7.61
License Index9.50
Single Core
1G
40G
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Sanction
Danger
Sanction
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Company Name
Interactive Brokers Hong Kong Limited
Company Abbreviation
IB
Platform registered country and region
Hong Kong
Company website
YouTube
Company summary
Pyramid scheme complaint
Expose
Capital
Higher than 93% Japanese brokers $12,403,101(USD)
Stay away from it. They rejected my withdrawal of $7000 and ran away.
The money in the account can’t be withdrawn, even if it’s delayed, it’s still asked me to pay the different fees. I can’t get the money. It is ok, but I will not give you any penny, and I want to find other people to be victimized by myself. Serious fraud.
Fraudulent platform, intentionally not allowing withdrawals. Up to now, I have intentionally locked my account and not allowed me to access it. Currently, this floor has signs of fraud.
The chart was manipulated. I wanted to make the withdrawal, while IB gave no access to it, suffering huge losses.
I’ve never encountered with such situation. I don’t know whether it is a scam.
This forex trading platform operates fake activities to induce customers to participate. After the customer makes profit, they say that they have to pay 20% of the tax and tax must be paid separately and cannot be deducted from the account. I already deposit all my money and there is no more left for paying tax. This regulation was not stated before activities. This is fraud.
The platform gives no access to withdrawal with excises including wrong bank information, inadequate credit score and even unpaid individual tax. I have paid all fees, but the withdrawal is still unavailable.
Many clients have complained about the poor customer service of this broker and so their queries remain unanswered by the broker.
The withdrawal hasn’t been received yet for 7 days.No one replies to the email.
I beg you all in the name of God, dont ever trade with Interative Brokers. They are worse than the devil… They wont give me my $7000, i worked hard to earn that amount trading almost 24hours, i asked for withdrawal, they begin stupid stories… They claim they are regulated by cysec… Amy Parker one of the top people in interactive option, was with iOption that went bankrupt before, she knows all about this crime they are committing… She ran with people’s money @ iOption… If you have money there, better take out your funds, they wont even give you. and if you know anyone that wants to deposit with this thief broker, advise them not to ever… Because you will be trading for this company and not yourself… you will make money and they wont give you. Devil is nicer than this company, thats how bad they are…
I requested to withdraw the deposited money but I couldn't because the floor required a 3-month VIP upgrade. I sent a message to the customer base asking how to withdraw money but was not informed about this issue.
A client has complained about the very poor customer service of this broker and also claimed they do not allow transfer and steals people's money.
IB Review Summary in 10 Points | |
Founded | 1978 |
Headquarters | Greenwich, Connecticut, United States |
Regulation | SASIC, FCA,FSA, SFC |
Market Instruments | stocks, options, futures, forex, bonds, ETFs, CFDs |
Demo Account | Available |
Leverage | 1:400 |
EUR/USD Spread | 0.1 pips |
Trading Platforms | IBKR GlobalTrader, Client Portal, IBKR Mobile, Trader Workstation (TWS), IBKR APIs, IBKR Event Trader, IMPACT |
Minimum deposit | $0 |
Customer Support | 24/7 phone, email, live chat |
IB, or Interactive Brokers, is a discount brokerage firm founded in the United States in 1978. It is headquartered in Greenwich, Connecticut, and has offices in several other countries, including the United Kingdom, Hong Kong, and Australia. The company provides electronic brokerage services to individual and institutional clients, offering a range of financial products, including stocks, options, futures, forex, bonds, and funds. Interactive Brokers is regulated by several financial authorities, including the US Securities and Exchange Commission (SEC), the UK Financial Conduct Authority (FCA), etc.
IB is primarily known as a direct access broker, which means they enable traders to directly access various financial markets through a proprietary trading platform, rather than relying on intermediaries such as brokers or dealers. IB is also known for providing advanced trading tools and technologies to both individual and institutional clients.
Interactive Brokers (IB) has many advantages, including low commissions, access to a wide range of financial products, and a highly customizable trading platform. Additionally, IB is known for its advanced research tools and competitive pricing.
However, some potential downsides to consider include high minimum balance requirements and complex pricing structures that may not be suitable for all investors. It is also worth noting that customer support may not be as robust as some other brokers.
Overall, IB is a solid choice for experienced traders looking for a powerful trading platform with a range of options for investing in the financial markets.
Here is a table outlining the pros and cons of Interactive Brokers (IB):
Pros | Cons |
• Wide range of trading instruments | • Complex platform and steep learning curve |
• Advanced trading platform with many features | • Monthly inactivity fee if account balance is below $100,000 |
• Low trading fees and commissions | • High minimum deposit requirements for some account types |
• Access to international markets and exchanges | • Limited research and educational resources |
• Multiple account types to choose from | • Customer service can be slow and unresponsive |
• Strong regulatory oversight and safety of client funds | • No fixed spread available |
Note: This table is based on general observations and may not represent the experience of every individual user.
Some popular alternative brokers to Interactive Brokers (IB) include:
TD Ameritrade: A US-based broker that offers a range of trading instruments and platforms, including a powerful desktop platform for active traders.
E*TRADE: Another US-based broker that offers a variety of investment options, including stocks, bonds, and mutual funds. It also has a user-friendly trading platform.
Charles Schwab: A well-known US-based broker that offers a wide range of investment products and services, including a robust trading platform and research tools.
Robinhood: A popular US-based broker that allows commission-free trading of stocks, options, and cryptocurrencies through a user-friendly mobile app.
Fidelity: A US-based broker that offers a wide range of investment options and research tools, as well as a comprehensive trading platform.
It's important to note that each broker has its own strengths and weaknesses, and it's important to do your research and choose the one that best fits your trading needs and preferences.
Interactive Brokers is a well-established and reputable broker. The company is publicly traded and regulated by multiple top-tier financial authorities around the world, including the SEC in the United States and the FCA in the UK. Furthermore, the broker has a long history of providing high-quality services to its clients, with a track record of financial stability and reliability. Therefore, based on these factors, it can be concluded that IB is a legitimate broker, not a scam.
Interactive Brokers (IB) provides a range of security measures to protect its clients' funds and personal information. Some of the key security measures include:
Protection Measure | Detail |
Regulatory Oversight | SEC, FCA, CBI, SFC, ASIC |
Account Protection | SIPC protection (up to $500,000) and additional third-party insurance coverage (up to $30 million). |
Two-Factor Authentication | adding an extra layer of security to their accounts |
Secure Login System | a proprietary security measure that requires users to have a security device to log in to their accounts. |
Privacy Policy | outlines how it collects and uses customer data. |
Secure Website | uses SSL encryption on its website to protect user data and prevent unauthorized access. |
Cybersecurity Measures | firewalls, intrusion detection systems, and encryption, to protect against cyber threats. |
It's important to note that while no investment platform can completely eliminate risk, IB's measures are designed to mitigate risk and protect its clients as much as possible.
Based on the information provided, Interactive Brokers appears to be a reliable broker with a strong focus on client protection and security measures. It is regulated by multiple authorities and has a history of being in the industry for several decades. It also offers a wide range of trading instruments and a variety of trading platforms to choose from.
However, some of the drawbacks include a higher minimum deposit requirement compared to some other brokers and a less user-friendly trading platform for beginners. Overall, IB seems to be a solid choice for experienced traders looking for advanced trading tools and access to a wide range of markets.
IB offers a wide range of trading instruments across multiple asset classes, including:
Stocks: IB provides access to over 135 markets and 35 countries, with more than 9,000 stocks available to trade.
Options: IB offers options trading across a variety of markets, including stocks, indices, and futures.
Futures: IB offers futures trading on over 70 global markets, including indices, commodities, and currencies.
Forex: IB provides access to forex trading in over 100 currency pairs.
Bonds: IB offers trading in bonds, including corporate, municipal, and government bonds.
ETFs: IB provides access to more than 8,000 ETFs from over 80 providers.
Mutual funds: IB offers trading in mutual funds from over 250 fund families.
Metals: IB offers trading in precious metals such as gold, silver, platinum, and palladium.
CFDs: IB offers CFD trading in a variety of markets, including stocks, indices, forex, and commodities.
Cryptocurrencies: IB offers trading in select cryptocurrencies, including Bitcoin and Ethereum.
Interactive Brokers (IB) offers various types of accounts for different trading needs, including individual, joint, corporate, and trust accounts. The following is a brief overview of the main IB account types:
Individual: A standard account for individual traders that allows access to all trading products and services provided by IB.
Joint: An account for two or more individuals who share ownership of the account and have equal rights to trade and manage the account.
Corporate: An account for corporations, partnerships, LLCs, and other business entities that require a tax ID number to establish an account.
Trust: An account for trusts and estates, which must be established with proper documentation and verification of the trustee's authority.
Advisor: An account for registered investment advisors (RIAs) who manage assets for clients and require tools for managing multiple accounts.
Friends and Family: An account for multiple individuals who are related or known to each other, and who want to trade together while maintaining separate account ownership.
Proprietary Trading Group: An account for proprietary trading firms that require multiple sub-accounts, customizable risk management tools, and other advanced trading features.
Each account type has its own requirements and features, so it's important to review them carefully and choose the one that best suits your trading needs.
While the margin rates that IB offers are the same for all customers, local regulators may impose different or higher rates. Regulatory requirements for margin deposits in a given jurisdiction will take precedence over those set by the IB if they are greater.
And since high-risk leverage is regulated differently in different countries, your ability to use it will vary based on the trading instrument you use and the law where you live. As a result, IB provides a convenient online tool to let you quickly and easily view all applicable margins, allowing you to select the optimal trading conditions.
For customers who come under the jurisdiction of the Australian Securities and Investments Commission (ASIC), the maximum leverage available on Forex trades is 1:400.
It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Forex: IB offers competitive spreads on major forex pairs, with typical spreads ranging from 0.1 to 0.3 pips for EUR/USD, 0.1 to 0.6 pips for USD/JPY, and 0.3 to 0.7 pips for GBP/USD.
Stocks: IB offers tiered pricing for stocks, with spreads ranging from $0.0035 to $0.01 per share, depending on monthly volume. For example, the spread for a trade of 100 shares of Apple (AAPL) would be $0.35 to $1.00, depending on the monthly volume.
Options: IB offers competitive spreads on options, with typical spreads ranging from $0.10 to $0.30 per contract for major options.
A tiered commission of $0.0035 per share for a monthly volume of fewer than 300,000 shares, $0.002 per share for a monthly volume of 300,001-3,000,000 shares, $0.0015 per share for a monthly volume of 3,000,001-20,000,000 shares, and $0.0015 per share for a monthly volume of 20,000,000 shares. $0.001 per share for a monthly volume of 20,000,001-100,000,000 shares and $0.0005 per share for a monthly volume of 100,000,000 shares or more. The minimum commission is $0.35, and the maximum commission is 1% of the trading volume. The commission for metals trading is 0.15 basic points of the volume, with a minimum of $2.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
IB | 0.1 pips | variable |
TD Ameritrade | 0.9 pips | $0 |
E*TRADE | 1.0 pips | $0 |
Charles Schwab | 1.2 pips | $0 |
Robinhood | 1.3 pips | $0 |
Fidelity | 1.6 pips | $0 |
Note that the spreads and commissions listed above are subject to change and may vary depending on market conditions and account type. It's important to do your own research and compare different brokers before making a decision.
IBKR GlobalTrader, Client Portal, IBKR Mobile, Trader Workstation (TWS), IBKR APIs, IBKR Event Trader, and IMPACT are different trading platforms and tools offered by Interactive Brokers (IB) to its clients.
IBKR GlobalTrader is a web-based platform designed for trading and managing international accounts. It provides access to 125 global markets and 31 countries. It also allows clients to trade in multiple currencies and offers currency conversion at competitive rates.
Client Portal is a web-based platform that enables clients to manage their accounts, view balances and positions, access research and news, and monitor trading activity. It also provides account management tools such as funding, withdrawals, and statements.
IBKR Mobile is a mobile application that allows clients to manage their accounts, place trades, and access real-time market data. It is available for both iOS and Android devices.
Trader Workstation (TWS) is a desktop trading platform that provides advanced trading tools, real-time market data, and research. It is designed for professional traders and investors who require advanced trading capabilities.
IBKR APIs are a set of programming interfaces that allow clients to integrate their own software and applications with IB's trading systems. This enables clients to automate their trading strategies and access real-time market data.
IBKR Event Trader is a platform that allows clients to place orders based on real-time news events. It provides access to a wide range of news sources and allows clients to set up custom alerts and filters.
IMPACT (Interactive Brokers Market Place and Corporate Technology) is an online marketplace that offers a range of third-party applications and services to clients. These include trading tools, research, analytics, and other resources to enhance trading capabilities.
Overall, IB offers a variety of trading platforms and tools that cater to the needs of different types of traders and investors. These platforms provide access to a wide range of markets and instruments, advanced trading tools, real-time market data, and research resources. Additionally, the IBKR APIs enable clients to customize and automate their trading strategies.
Broker | Trading Platform | Desktop | Web | Mobile |
IB | IBKR GlobalTrader, Trader Workstation (TWS), etc | Yes | Yes | Yes |
TD Ameritrade | Thinkorswim | Yes | Yes | Yes |
E*TRADE | E*TRADE Pro | Yes | No | Yes |
Charles Schwab | StreetSmart Edge | Yes | Yes | Yes |
Robinhood | Robinhood Web, Robinhood App | No | Yes | Yes |
Fidelity | Active Trader Pro | Yes | No | Yes |
There are several major options for traders to deposit and withdraw funds from their accounts, including bank wire transfers, ACH, BPAY, EFT, online bill payment and more.
Note that the availability of deposit and withdrawal methods may vary depending on your location and account type.
The minimum deposit requirement for Interactive Brokers (IB) varies depending on the account type and the location of the account holder. For example, the minimum deposit for a US-based individual account is $0 for IBKR Lite and $0 for IBKR Pro, while for a non-US-based individual account, the minimum deposit is $0 for IBKR Lite and $10,000 for IBKR Pro. However, the minimum deposit for other account types, such as institutional accounts or margin accounts, may be higher.
It's important to note that while there may be no minimum deposit requirement, there may be other fees associated with maintaining an account, such as inactivity fees or market data fees.
IB | Most other | |
Minimum Deposit | $0 | $/€/£100 |
To withdraw funds from an Interactive Brokers (IB) account, you can follow these steps:
Step 1: Log in to your account on the IB website.
Step 2: Click on the “Transfer & Pay” menu and select “Transfer Funds”.
Step 3: Select the account you want to withdraw funds from and the destination account.
Step 4: Enter the amount you want to withdraw and select the currency.
Step 5: Choose the withdrawal method you prefer and follow the instructions provided.
Step 6: Confirm the details of the withdrawal and submit the request.
The withdrawal methods available may vary depending on your location and account type. Keep in mind that withdrawal requests may take a few business days to process, and additional fees may apply depending on the method chosen.
IB charges a variety of fees to its clients, including account fees, and market data fees. Account fees include a monthly activity fee of $10, which is charged to clients who do not generate a minimum monthly commission of $10 in trades or who do not maintain a minimum account balance of $100,000. There are also fees for certain types of account transfers and for paper statements.
Market data fees are charged by exchanges and other data providers for real-time and delayed market data. IB offers a variety of market data packages to suit different trading needs, with fees ranging from free to several hundred dollars per month depending on the package and the markets covered.
Overall, while IB's fee structure may seem complex at first, it is generally transparent and competitive compared to other brokers. Clients can use IB's fee calculator tool on its website to estimate their total trading costs.
See the fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee | Inactivity Fee |
Interactive Brokers | None, but may be subject to a fee by the funding bank | First withdrawal each month is free, subsequent withdrawals have varying fees | $10 per month if account balance is less than $100,000 |
TD Ameritrade | $0 | $0 | $0 |
E*TRADE | $0 | $0 | $0 |
Charles Schwab | $0 | $0 | $0 |
Robinhood | $0 | $0 | $0 |
Fidelity | $0 | $0 | $0 |
Interactive Brokers (IB) provides customer service to its clients through various channels, including phone, email, live chat, and a knowledge base. Here is some information about IB's customer service:
Phone support: IB offers 24/7 customer service through phone support. Clients can call IB's toll-free numbers from their registered phone number to receive assistance in several languages.
Email support: Clients can send an email to IB's customer service team at any time. IB aims to respond to emails within one business day.
Live chat: IB offers live chat support through its website and trading platforms. Clients can chat with IB's customer service representatives in real-time to receive assistance with their account.
Knowledge base: IB has an extensive knowledge base that includes frequently asked questions, user guides, and tutorials. Clients can search the knowledge base for answers to their questions or to learn more about IB's products and services.
You can also follow IB on some social networks such as Facebook, Instagram, LinkedIn, Twitter and YouTube.
Overall, IB's customer service is well-regarded by clients and industry experts. The company's 24/7 phone support and live chat options are particularly appreciated by clients who need immediate assistance.
Pros | Cons |
• 24/7 customer support through phone, email, and live chat | • Customer service can be slow and unresponsive at times |
• Multilingual support available | • No branch offices for in-person support |
• Knowledgeable representatives with trading expertise | |
• Online help center with extensive resources and FAQs |
Note: These pros and cons are subjective and may vary depending on the individual's experience with IB's customer service.
Interactive Brokers offers a variety of educational resources for traders, including webinars, courses, videos, and articles.
The education section of their website includes topics such as trading basics, options trading, technical analysis, and trading strategies. They also offer a wide range of educational videos on their YouTube channel.
In addition, Interactive Brokers offers a simulated trading account that allows traders to practice trading with virtual funds before risking real money. This is a useful tool for beginners who are learning to trade.
Overall, Interactive Brokers provides a comprehensive range of educational resources for traders of all skill levels.
In conclusion, Interactive Brokers is a reputable and reliable broker that offers a wide range of investment products and trading platforms to its clients. The broker is known for its low commission rates and competitive pricing structure, making it a good choice for active traders and investors.
IB also provides a high level of security and protection to its clients, through various measures such as SIPC and excess SIPC insurance, and two-factor authentication. The broker also offers educational resources, customer support, and a variety of account types to meet the needs of different traders.
However, IB may not be the best fit for beginners due to its complex trading platforms and sophisticated tools. Additionally, the broker's account minimums and inactivity fees may not be suitable for all traders.
Overall, Interactive Brokers is a good choice for experienced traders and investors who are looking for a reliable broker with low commissions and a wide range of investment products.
Q 1: | Is IB regulated? |
A 1: | Yes. It is regulated by SASIC, FCA,FSA, and SFC. |
Q 2: | Does IB offer industry-standard MT4 & MT5? |
A 2: | No. Instead, it offers IBKR GlobalTrader, Client Portal, IBKR Mobile, Trader Workstation (TWS), IBKR APIs, IBKR Event Trader, and IMPACT. |
Q 3: | What is the minimum deposit for IB? |
A 3: | There is no minimum initial deposit with IB. |
Q 4: | Is IB a good broker for beginners? |
A 4: | Yes. IB is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions. |
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