Interactive Brokers is simply not for the average trader. There are a lot of differences between this broker and your average forex dealer.
This means that you will not have the broker dealing against you, and the people at IB actually have an interest in seeing you succeed as they get paid in commission and not the spread. It should be noted that this is a professional platform, and as such has variable spreads.
You will never hear a word about scalping, or placing an order within the current spread. It should also be noted that there are multiple order types, and as such gives massive flexibility to the trader. Also of note is that IB is a globally focused broker, allowing you to trade stocks , bonds, forex, futures, and options in over 90 markets around the world.
However, the massive amount of order types certainly makes it a viable platform. In fact, many professional traders will get a third party charting package such as NinjaTrader to display markets as the included charts are functional, but not great.
Interactive Brokers has customer agents around the world, and depending on the time you may find yourself talking to someone on the phone from Hong Kong, America, or even the UK. From experience, the customer service has been very helpful and professional through this broker. All agents speak English, and all call centers have multi-lingual agents in order to help customers worldwide. The platform is very reliable, and the orders can be looked into as to whether or not they were valid as this is a true ECN, and professional set up.
The broker itself is extremely reliable, and is regulated in the United States as well as several other countries around the world such as the UK, Australia, and Japan. All accounts are segregated and deposited in accounts in home-based banks.
If you are trading through IB Australia, your money will sit in an Australian bank for instance. The commissions at IB are billed at 0. The broker is a choice of large funds as well as retail clients, meaning that the massive amount of capital that flows into the company make it unnecessary in order to bring people in. Interactive Brokers is without a doubt one of the best brokers in the business, be it forex or otherwise. Because of this, the broker is out of reach for a lot of people. However, if you have the correct sized account — this is the Cadillac of brokers as you can trade just about everything from the same platform.
Those complaining of commissions - are you serious? Would you rather trade with a broker with a 3 pip spread or one with 0. You get what you see and you can work the spread. Interactive Brokers Review InteractiveBrokers Review Interactive Brokers is simply not for the average trader.
Customer Service Interactive Brokers has customer agents around the world, and depending on the time you may find yourself talking to someone on the phone from Hong Kong, America, or even the UK. Reliability The platform is very reliable, and the orders can be looked into as to whether or not they were valid as this is a true ECN, and professional set up. Commissions and Spreads The commissions at IB are billed at 0. Pros The ability to trade all over the world.
The commission structure ensures that the broker has an interest in seeing you succeed. The platform shows true liquidity. The ability to trade currency futures as well as spot opens up all kinds of possibilities. The platform offers over 30 different types of orders for your trades. The spreads are incredibly small. True ECN and the deposits are segregated into local banks. The platform is a bit intimidating to new traders, as it offers so much. Conclusion Interactive Brokers is without a doubt one of the best brokers in the business, be it forex or otherwise.
Account Type Info Min. English, French, German, Italian, Spanish. Interactive Brokers Reviews Rate this broker. I like it a lot and so I stayed. I scalp almost all the time. I hardly ever keep my windows open for longer than a few minutes but it seems to work well and they permit it. I could use a lot of nasty words about some less regulated brokers outside theUSA. SO I came to invest with, Interactive Brokers, a properly regulated company and I actually get back the money I make on my trades.
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