What is Interactive Brokers?

Interactive Brokers helps Investors globally in stocks, options, futures, currencies, bonds and funds from a single integrated account . Accounts can be funded in multiple currencies and trade assets denominated in multiple currencies. with access market data 24 hours a day and six days a week.

What are Interactive Brokers's top competitors?

E*TRADE and Fidelity Active Trader Pro are common alternatives for Interactive Brokers.

Who uses Interactive Brokers?

The most common users of Interactive Brokers are from Small Businesses (1-50 employees).

Interactive Brokers Reviews & Ratings 2024

Deployment Types	Software as a Service (SaaS), Cloud, or Web-Based
Operating Systems	Unspecified
Mobile Application	No

February 11, 2023

IB TWS is exceptionaly good / One of class of the fastest, multy assets and reliable platforms / All type of accounts

Andrey Lokshin

Senior Financial Analyst

Team Harbour, Inc. (Capital Markets, 11-50 employees)

Score 10 out of 10

Vetted Review

Verified User

Use Cases and Deployment Scope

We are a subsidiary of the family office established 15 years ago and managing VC projects and investing in US equity listed on exchanges and equity options. We develop custom internal applications to allocate office assets eligible for investment and rebalance the portfolio every week. The Interactive Brokers makes our way sustainable because IB Trader Workstation is a reliable instrument for investment allocation suitable not only for retail but also for institutional quality or trading group capabilities. It is a lightweight and speedy tool, stable even for mobile version. It is easy to make downloads of data for internal reporting.

Pros and Cons

Large financial instruments are available for trading - options, forex, derivatives, USTs
All main international exchanges are available to allocate
Fast and stable user interface
Fast connectivity
Python and Java API
Applications from Vendors
Data feed on demand could be added
Fast funds transfers and account set up
Supported all types of account: retail, trading group, retirenment, institutional
Fast quotes update without viable delay even for retail

Simplification of design (classic multy window to plain colorful palette Z-focused)
Choise of routes for order flow with clear comission cost
International bonds inclusion
Consider offering of CDS derivatives for ICE products
ESG selection - CO2 allowances instruments
Crypto wallets as a cource of margin connectivity are interesting for hybryd account
Sponsorship for FINRA licenses for non-institutional customers

Likelihood to Recommend

Interactive Brokers is appropriate for retail equity investing and pension accounts holding - totally appropriate. Institutional accounts and proprietary trading group accounts - appropriate for those managing risks themselves because there is no automatic or supervised control and you trade at your own discretion.

Not appropriate - is you look for crypto trading with instruments not accepted by regulator authorities as featured instruments with acceptable risk, to make sustainable and regulated investments with the main aim to preserve capital. All not regulated instruments are not appropriate and it is good and professional.

Most Important Features

Custody in regulated and respectable jurisdiction
Reliable trading platform
24 hours support
International instruments
Well developed API
Options trading capabilities
Reasonable comissions schemas depending on data feeds and instrument choise

Return on Investment

Scalability - easy managed exposure of any size
ROI is sustainable, no exponencial growth but we get what is expected, not less SP500 return + KPI %
Comission flow is very low as compared to 3 - 4 years before the date

Alternatives Considered

TradeStation, Merrill Edge and MetaTrader 5

Reliable connection, fast interface, rapid data updates, lower comission costs that is all features coinsided at one place for Interactive Brokers trader workstation. Even account types offering is wider to include also trading group accounts not only retail, IRA 401. Interactive Brokers makes easy to enter the prop business or serve large family office needs as an adviser or discretionary mandate trader (EU).

Asset management
API testing for future projects
Portfolio rebalancing
Equity options tading to get some edge with Alpha

Innovative Uses

Trying to set up bactesting tool
Weekly options trading
International instruments purchases for US based family office

Future Planned Uses

Arbitrage strategies development
We need to test premarket trading till MOO become available
We need to test pastmarket trading after MOC become unavailable

Product Features
Product Usability
Product Reputation
Prior Experience with the Product

It is reliable ... and has fast access to multiple international instruments.

Evaluation Lessons Learned

We would do the same. Probably would be interested in technical workshops for API integrations and algo practices with use of TWS.

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