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Interactive Brokers Review 2024

Written by
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by Jeff Anberg

May 03, 2024

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail CFD accounts lose money. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Interactive Brokers is a top choice for traders looking for a superior forex and CFD trading platform. Our research and hands-on testing reveal that it stands out with its exceptional range of offerings and low trading costs, backed by its impressive regulatory credentials.

Overall Rating

9.9 / 10

Minimum Deposit


Trust Score info

Highly Trusted

Pros and Cons

thumb_up_off_alt Pros

  • Low Spreads: Offers competitive average spread costs for EUR/USD pairs at 0.63, well below the industry average.
  • Extensive Asset Range: Traders can access a wide selection of 8,500 tradeable symbols and 90 forex pairs.
  • Regulatory Trust: Licensed and regulated by numerous top-tier authorities, ensuring a high degree of security and trustworthiness.

thumb_down_off_alt Cons

  • No MetaTrader Offering: Does not support popular platforms like MetaTrader 4 or MetaTrader 5.
  • Limited Funding Options: Does not support credit cards or common eWallets like PayPal, Neteller, or Skrill, potentially limiting some users.
  • No Copy Trading: Lacks the option for copy trading, which could be a drawback for those looking to duplicate trading signals from more experienced investors.

Ratings Summary

  • Investment Types - 10/10
  • Commissions & Fees - 10/10
  • Trading platforms - 10/10
  • Research - 10/10
  • Mobile Apps - 9.5/10
  • Education - 10/10
  • Overall - 9.9/10

Can I trust Interactive Brokers?

Yes, Interactive Brokers is highly trusted. It is a publicly traded company (NASDAQ: IBKR) and authorised by ASIC in Australia, MiFID in Europe, and the FCA in the United Kingdom. With a Trust Score of 99, it ranks as highly trusted according to, indicating a top-notch level of security and reliability.

Interactive Brokers is currently licensed and/or authorised by the following regulatory bodies:

Is Interactive Brokers good for beginners?

While Interactive Brokers is an excellent choice for beginners seeking a wealth of educational resources, including advanced and beginner videos, and comprehensive education on the stock market, its focus has traditionally been geared toward more sophisticated traders. Novice forex traders may not find as much information specific to forex or CFD trading and the IBKR platform suite has a steep learning curve.

Feature Interactive Brokers logoInteractive Brokers
Education (Forex or CFDs) info Yes
Client Webinars info Yes
Videos - Beginner Trading Videos info Yes
Videos - Advanced Trading Videos info Yes
Investor Dictionary (Glossary) info Yes

Interactive Brokers commissions and fees summary

Interactive Brokers is a great choice for cost-conscious traders. It charges no inactivity fees and offers active trader discounts. With an average spread cost of 0.63 on the EUR/USD pair (as of Q3 2023 - IBKR unfortunately does not publicly list their average spreads) it is significantly lower than the industry average of 1.08. Along with a top rating for commissions and fees, IBKR is highly recommended for those looking to minimize trading costs.

Feature Interactive Brokers logoInteractive Brokers
Minimum Deposit info $0
Average Spread EUR/USD - Mini info 0.63 info
Average Spread EUR/USD - Standard info 0.63 info
All-in Cost EUR/USD - Active info 0.63 info
Active Trader or VIP Discounts info Yes

Interactive Brokers trading platforms and tools

tips_and_updates Did you know? Trading platforms comparison

Of the 60+ brokers reviewed on BrokerNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer ZuluTrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.

Interactive Brokers delivers excellent trading platforms and tools, with an advanced proprietary platform but no MetaTrader support.

Trading platforms offered: Proprietary platform available.

Trading tools: Offers advanced trading signals.

Metatrader: Does not support MetaTrader platforms.

Copy trading: No copy trading options available.

Feature Interactive Brokers logoInteractive Brokers
Virtual Trading (Demo) info Yes
Proprietary Platform info Yes
Desktop Platform (Windows) info Yes
Web Platform info Yes
MetaTrader 4 (MT4) info No
MetaTrader 5 (MT5) info No
DupliTrade info No

Interactive Brokers trading platform screenshots

Mobile trading apps at Interactive Brokers

Interactive Brokers offers an excellent mobile trading app, suitable for trading on the move.

Feature Interactive Brokers logoInteractive Brokers
Android App info Yes
Apple iOS App info Yes
Mobile Economic Calendar info Yes
Mobile Alerts - Basic Fields info Yes
Mobile Charting - Draw Trendlines info Yes
Mobile Watchlist info Yes

Interactive Brokers mobile app screenshots

How do I open an account with Interactive Brokers?

  1. Visit the Interactive Brokers website.
  2. Select the account type you wish to open.
  3. Fill in the required personal information.
  4. Provide your financial details and trading experience.
  5. Verify your identity by submitting the necessary documents.
  6. Fund your account and start trading.

What can I trade at Interactive Brokers?

At Interactive Brokers, traders have access to a vast range of markets. You can trade 90 forex pairs and a total of 8,500 tradeable symbols, which is considerably higher than the industry average of 3,623.

Feature Interactive Brokers logoInteractive Brokers
Tradeable Symbols (Total) info 8500
Forex Pairs (Total) info 90
Social Trading / Copy Trading info No
Cryptocurrency (Physical) info Yes
Cryptocurrency (Derivative) info No
Spread Betting info No

Interactive Brokers research screenshots

Account funding at Interactive Brokers

Interactive Brokers supports account funding through bank wires. It does not support Neteller, PayPal, credit cards, or Skrill eWallet options.

Feature Interactive Brokers logoInteractive Brokers
Visa/Mastercard (Credit/Debit) info No
Bank Wire (Deposit/Withdraw) info Yes
PayPal (Deposit/Withdraw) info No
Skrill (Deposit/Withdraw) info No
Neteller (Deposit/Withdraw) info No

About Interactive Brokers

Interactive Brokers (NASDAQ: IBKR), founded in 1977, has grown into a major player in the financial services industry, known for its sophisticated trading platform and comprehensive offerings. It has established a strong reputation for reliability and innovation, supported by its high trust score and adherence to numerous top-tier regulatory standards.

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At, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.

Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.

Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).

AI disclaimer

We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Learn more about our AI Policy and How We Test.

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.

About the Editorial Team provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.

Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for and Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

Joey Shadeck
Joey Shadeck

Joey Shadeck is the Content Strategist and Research Analyst for and He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.

Jeff Anberg
Jeff Anberg

Jeff Anberg is a Staff Editor at and Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.