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Score

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/10
The WikiFX Score of this broker is reduced because of too many complaints!

IB

Hong Kong|Above 20 years|
Market Making(MM)|Australia Investment Advisory License Revoked|Suspicious Overrun|High potential risk|

https://www.interactivebrokers.com.hk/en/home.php

Website

Rating Index

Capital Ratio

Capital Ratio

Perfect

Capital

$ 12,403,101 (USD)

Influence

AAA

Influence index NO.1

United States 9.42
The WikiFX Score of this broker is reduced because of too many complaints!

Capital Ratio

Capital Ratio

Perfect

Capital

$ 12,403,101 (USD)
Ranking in Japan: 13 /407
904.4%
非常好

Influence

Influence

AAA

Influence index NO.1

United States 9.42

Surpassed 82.00% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+44 207-710-5695
https://www.interactivebrokers.com.hk/en/home.php
Suite 1512, Two Pacific Place, 88 Queensway, Admiralty, Hong Kong SAR.
https://www.facebook.com/InteractiveBrokers/

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

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SMBC

Contact number

English

+44 207-710-5695

English

+852 2156-7907

English

+91 22-61289888

English

+81 (0)3-4588-9700

Other ways of contact

Broker Information

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It has been disclosed by the regulator, please be aware of the risks! 8
Previous Detection : 2024-11-03
  • It has been verified that this broker has been disclosed by National Futures Association. Please be aware of risks!
  • The number of the complaints received by WikiFX have reached 12 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • AustraliaASIC (license number: 245574) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
  • China Hong Kong SFC (license number: AEX264) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
  • This broker exceeds the business scope regulated by Australia ASIC(license number: 245574)Investment Advisory Licence Non-Forex License. Please be aware of the risk!
  • This broker exceeds the business scope regulated by United States NFA(license number: 0258600)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!
  • Global regulators have disclosed 4 pieces of information about this broker, please be aware of the risks!

WikiFX Verification

IB · WikiFX Survey
A Visit to IB in UK - Office Found
United Kingdom

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IB · Company Summary

IB Review Summary in 10 Points
Founded1978
HeadquartersGreenwich, Connecticut, United States
RegulationASIC, FCA, FSA, SFC, CIRO
Market InstrumentsStocks, options, futures, currencies, bonds and funds
Demo Account
Leverage1:400
SpreadFrom 0.1 pips
Trading PlatformIBKR GlobalTrader, Client Portal, IBKR Desktop, IBKR Mobile, Trader Workstation (TWS), IBKR APIs, IBKR ForecastTrader, IMPACT
Minimum Deposit$0
Customer SupportLive chat, phone, email, FAQs

IB Information

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 ASIC (Australia), FCA (UK), FSA (Japan), SFC (Hong Kong), and CIRO (Canada).

IB's homepage

Pros & Cons

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, complex pricing structures and trading platforms are not suitable for all investors.

Below is a table outlining the pros and cons of Interactive Brokers (IB):

ProsCons
• 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
• Access to international markets and exchanges
• Multiple account types to choose from
• Strong regulatory oversight and safety of client funds

Note: This table is based on general observations and may not represent the experience of every individual user.

Is IB Legit?

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 ASIC (Australia), FCA (UK), FSA (Japan), SFC (Hong Kong), and CIRO (Canada). 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.

Regulated by ASIC

Regulated by FCA

Regulated by FSA

Regulated by SFC

Regulated by CIRO

How Are You Protected?

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 MeasureDetail
Regulatory OversightASIC, FCA, FSA, SFC, CIRO
Account ProtectionSIPC protection (up to $500,000) and additional third-party insurance coverage (up to $30 million)
Two-Factor Authenticationadding an extra layer of security to their accounts
Secure Login Systema proprietary security measure that requires users to have a security device to log in to their accounts
Privacy Policyoutlines how it collects and uses customer data
Secure Websiteuses SSL encryption on its website to protect user data and prevent unauthorized access
Cybersecurity Measuresfirewalls, 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.

Our Conclusion on IB Reliability:

Based on the information provided, Interactive Brokers is 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.

Market Instruments

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.
  • Funds: IB offers trading in funds from over 250 fund families.

Account Types

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.
account types
  • 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.

Margin & Leverage

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.

Spreads & Commissions

Spreads:

  • 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.

Commissions:

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.

Trading Platforms

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.
  • 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.
Trading Platforms
Trading Platforms

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.

Deposits & Withdrawals

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.

Minimum deposit requirement

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.

IB minimum deposit vs other brokers

IBMost other
Minimum Deposit$0$/€/£100

Fees

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.

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.

Customer Service

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 1 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.

Education

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.

Education

Conclusion

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.

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.

Frequently Asked Questions (FAQs)

Q 1:Is IB regulated?
A 1:Yes. It is regulated by ASIC, FCA, FSA, SFC, and CIRO.
Q 2:Does IB offer industry-standard MT4 & MT5?
A 2:No. Instead, it offers IBKR GlobalTrader, Client Portal, IBKR Desktop, IBKR Mobile, Trader Workstation (TWS), IBKR APIs, IBKR ForecastTrader, 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:No. Beginners may find IB's trading platforms are difficult to uderstand. It is more suitable for experienced traders.

News

Interactive Brokers Opens New Office in Dubai DIFC

NewsInteractive Brokers Opens New Office in Dubai DIFC

2024-10-17 16:40

Interactive Brokers opens a new office in Dubai DIFC, offering advanced global trading platforms to investors in the Middle East, and enhancing access to international financial markets.

WikiFX
2024-10-17 16:40
News
Interactive Brokers Opens New Office in Dubai DIFC
Interactive Brokers Adds Cboe Australia and CME Group Derivatives

NewsInteractive Brokers Adds Cboe Australia and CME Group Derivatives

2024-10-16 17:09

Interactive Brokers adds new derivatives from Cboe Australia and CME Group, enhancing investment options for traders to diversify portfolios and manage risk.

WikiFX
2024-10-16 17:09
News
Interactive Brokers Adds Cboe Australia and CME Group Derivatives
 Interactive Brokers Launches BookTrader for Optimized Trading

News Interactive Brokers Launches BookTrader for Optimized Trading

2024-10-15 15:22

Interactive Brokers introduces BookTrader, a tool offering real-time data, advanced order management, and customizable features to optimize trading performance.

WikiFX
2024-10-15 15:22
News
 Interactive Brokers Launches BookTrader for Optimized Trading
Interactive Brokers Introduces New Futures and ETFs on HKEX for Global Investors

NewsInteractive Brokers Introduces New Futures and ETFs on HKEX for Global Investors

2024-10-14 16:49

Interactive Brokers continues to enhance the range of investment instruments available to its global clientele. The firm has recently broadened its offerings on the Hong Kong Exchanges and Clearing Limited (HKEX), allowing investors to tap into a wider variety of products across key markets.

WikiFX
2024-10-14 16:49
News
Interactive Brokers Introduces New Futures and ETFs on HKEX for Global Investors

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