Interactive Brokers: Official Review 2024

07 April 2023


  • 160 global markets available
  • Platforms developed for experienced traders
  • Poor customer service
  • Daily interest on unused cash

pros Pros:

  • Competitive fee structure for all markets
  • One of the widest offers of products and worldwide markets
  • Advanced and professional trading platforms
  • Advanced short-selling and margin system

pros Cons:

  • Inactivity monthly fee
  • Tax report not customizable depending on the country of the investor
  • Forex and leveraged CFDs not available
  • Platform not suitable for beginners
star rating 4.7  4.7
Fees and Costs:
Products and Markets:
Trading platform:
Tax regime:
Ease of use
Overall rating

Interactive Brokers review and rating

Interactive Brokers (hereinafter IB) is an American online broker founded over 40 years ago and probably the global leader in the brokerage industry. It is listed on the Nasdaq Stock Exchange (IBKR: US45841N1072). In 2018 IB received a BBB+ rating with a positive outlook from Standard & Poor's.

IB success is founded on a modern structure that allows investors to benefit from advanced services at affordable prices. Such setup generates a competitive advantage on a global level over all the other players in the financial industry.

Trading fees and Costs

IB adopts a unique global fee structure, regardless of the investor's country of residence. By virtue of this setting, the investors will find the fees on some markets particularly convenient, while on other markets the competition of local brokers could prevail. Let's examine this aspect in greater detail.

Regarding the stock markets, the fees can be very convenient for stocks listed on the US and Canadian stock exchanges (0.005 USD and 0.01 CAD per share respectively). But beware of the number of shares traded for each transaction, as above a certain threshold the use of a broker with a fixed fee structure could be cheaper.


Use our tool to calculate trading fees on US stocks with Interactive Brokers →


For European stocks, IB applies a variable commission rate. For German markets, the fee is 0.12% of the amount traded (minimum fee € 6,00); for French, Italian, Dutch and Spanish markets, the fee is 0.1% of the amount traded (minimum fee € 4,00); for UK markets the commission is fixed when the countervalue is up to £ 50,000: £ 6.00 per trade.


Use our tool to calculate trading fees on European stocks with Interactive Brokers →


Very advantageous are fees for derivative products: European futures cost between € 1 and € 3 per contract; US futures cost about $ 2.50; slightly cheaper are options.

The TWS platform is free for the first 3 months. After this period it has a monthly fee of $ 10. Such cost can be cut by generating the same amount of trading fees in the reference month. This requirement represents an inactivity fee that can discourage the less active investors from choosing IB.

Currency conversion is one of the most advantageous aspects: the cost to convert currency is just 0.002% (min. $ 2), which would make it a service that can be exploited not only by traders but also in a business context by import/export companies who operate in the currency markets.

Another big advantage is the financing costs, which is the passive interest for the borrowed money: up to € 100,000 the annual interest rate is equal to 1.5%: this value can lead to huge savings for investors who are used to trade with leverage, thus using part of the capital granted by the broker to have more liquidity available.

Beware of money transfers, as only one withdrawal per month is free: from the second onwards IB charges a cost of € 8 per withdrawal.

If the tariffs on the US and derivatives markets are incredibly low with Interactive Brokers, those on European markets are on average of the rates of European brokers. If you are a passive investor pay attention to the inactivity costs, since they can cancel the advantages of low trading fees.

Author of the review:

Alfredo de Cristofaro
Graduated in Economics of Financial Intermediaries, after having worked for several years at one of the main financial brokers in Europe, he decided to make available to investors the knowledge gained over the years. On he's responsible of reviewing the stockbrokers, making sure that the highest standards of safety and transparency are guaranteed.
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