The title sums it all.
IBKR advertises low commissions but in fact have a way of making money in fees and other things.
Customer service over the phone is useless and helpless. Not willing to explain things in detail as if their own trades are on the line when called during trading hours. Also, from not knowing their own policies. A rep over the phone says one thing and another agent over the email says another.
Last but not the least, their Platform (Trader Workstation) is buggy and as confusing as one could. They could not even design a trade ladder properly.
Better go with those brokers who are more honest in their dealings for a little higher price.
Review by Quanetta3 weeks ago
Best Broker of the World
Review by MarkGowing4 weeks ago
Very good trading platform.
Excellent trade execution.
Wide access to global markets.
ABSOLUTELY HORRIBLE customer service.
So, if you don't run on any problem, there are very good. But if ever you run into a problem, buckle up your patience to get it resolve.
Thankfully, in more than 5 years as a customer, I run into only a few problems.
Overall, I am a satisfied long term customer.
Review by Drkskin4 weeks ago
very good online brokerage. good phone support. feature filled trading platform.
Review by Bodhild1 month ago
Perfect for the investor who want to be at the helm of his own ship of Fortune! Lots and lots of information, technical analysis, etc available. Trading fees are extremely low and reasonable.
Review by Praveen1 month ago
I used to sell trading platforms for large brokerage houses for a living and but I still did all my personnal trading on IB. It's the most complete, simplest and cheapest system in the world! Just give it a try and you'll see for yourself.
Review by Sashalee Godenzi1 month ago
In trading its important my information and data is secure and Trustplot provides that security
Review by Srij1 month ago
Best online stock broker !
Review by Lekutano1 month ago
Very low transaction cost. Transparent pricing. Customer service is getting better but still needs work. IB is really best for someone who is in the investment business and has several clients. The transaction costs are rock bottom but the required real time quotes for numerous different platforms can easily run $200+ per month so best if that cost is shared over many clients.
Review by Claudeania1 month ago
Efficient customer service, nice mobile apps, cheap.
Review by CarolynS1 month ago
The basic account management software is among the worst I have ever encountered. The trading platform is OK once you learn it, but things like funding your account, transferring securities, signing up for stock yield enhancement, these all went wrong for me several times and took over a month to straighten out. The online support is terribly incomplete and does not tell you what will happen as a result of your selections. Phone support, if anyone answers, is unable to help. That is actually one of their policies according to a manager I finally got to chat with me. Only the customer can make account changes. That is hard to do without guidance. Luckily, there is some support via non IB user groups. What a way to run a business! Good Luck, You are going to need it!
Review by Rouda1 month ago
Costumer service is very poor, especially if there is a problem that they are not "programmed" to solve.
Review by Bytheway1 month ago
IB does some wonderful things that other custodians don't do - like the ability to deal with people in practically any country and access to multi currency accounts and exchanges world-wide. However they miss the boat in some really basic ways. For example, they do not offer the full suite of IRA distribution codes so if a person is taking early distributions under one of the exceptions to penalty that can't be coded properly, which creates a tax reporting issue. Also, when someone moves from one country to another changing the legal country of residence is a real pain necessitating new account openings, manual position transfers, and numerous emails, messages, and calls to get this done. Also the new account management software, while it looks better, still has some bugs and in some instances doesn't work as well as the old software plus it's confusing when some accounts default to the old software (like trust accounts) and some to the new AM, and then some to the portal.
Review by KoHoSo1 month ago
The user experience could improve drastically, whether it is the TWS which is lacking drawing tool which is funny and it still is too complicated. And the whole explaination of rules and the proccess of trading is not clear enough.
Review by Christabell1 month ago
Complicated platform, mainly for professionnel use.
Difficult to reach french or German speaking assistance.
All the contacts did their best.
Review by LordGM1 month ago
Too complicated for newer users. Basic logins and multiple versions of the platform aren't necessary. I have to login multiple times to use account management features and then desktop or web versions. Please simplify the access and entry menus. Trying to be all things to all people, without doing product segment screens for different assets classes, makes the site very challenging. Layering the functionality of the screens from basic to more complex tasks makes sense when you start from one basic platform. I don't need 'current', 'web' or 'beta' versions to do my investment work. They are confusing options for the less experienced- just give me one
logical platform. You can do upgrades behind the scene.
I'd like more simplicity.
Review by Iltid1 month ago
Interactive Brokers is on the cutting edge of online trading with APIs but support is not supporting the technology to improve API functionality.
Review by Meagn1 month ago
Why I use IB....I use IB because I can trade from 4AM to 8PM. They typically have plenty of inventory for shorting, even on small cap and low float stocks. You can see immediately if the stock is available to short and how many shares are available, one of my favorite features. Very quick execution on stock and options trades. The commissions are very reasonable, especially if trading small share size, much less than TD or E Trade. My account and P&L are updated in real time. The TWS platform is very polished, but a bit quirky. I like the appearance but it is not the easiest to use. For example I can only put one L2 and one T&S window in my work space. I have no idea why but I like to monitor at least 2 stocks at a time. Cannot do it, only one at a time on each screen. That makes no sense to me. When I place an order the screen tends to whip around and go to another stock. So, you jump in and take a position, you need to get out quick for whatever reason, next thing you know your L2 and T&S have switched to another stock. They really need to get the bugs worked out and make it more user friendly for fast trading. Because I love everything else about IB I deal with it and have work arounds to minimize the unstable behavior of the platform. You feel like you have a better handle on order flow and actual buyers and sellers. The L2 shows way more orders than my TD L2 did, it is always nice to see all the orders when day trading, not some of the orders. I highly recommend IB, I have been trading on and off for 15 years and have used at least 5 different brokers. IB is by far my favorite.
Review by Asfa Cinti1 month ago
The best trading platform, with the information you need, fast and cost effective trading experience
Review by TwelvenTwelve1 month ago
The best of IB:
1) Low prices that helps with my day trading.
2) Better cross navigation between TWS windows.
I am missing:
1) The auction prices before and after trading hours.
2) Half way share price when the difference between buy/sell prices is one price increment.
3) A simple order form for placing an order instead of the not very clever ibot.
4) The ability to see my order in the depth window.
Review by MKaras1 month ago
There's no other platform like IBKR...it is the best for doing anything with the markets, handling friends & family accounts, reporting and, of course, low-low costs (commissions and margin). There is, however, one huge drawback...
Customer service is, more often than not, surly, impatient and wanting you off the line as soon as possible. If there's a way to make a customer regret calling in, they'll come up with it. I know I'm not alone in this feeling as everyone in our investing group feels the same way. Occasionally one lucks out and gets a patient, friendly customer service person...it just doesn't happen nearly enough. Too bad, as then the platform would be PERFECT, but I cannot give it 4 or 5 stars with the service issue.
Review by Hridayesh1 month ago
The trade prices are as low as I could want and the customer service is both available and effective answering my questions regarding the use of the web pages. I had extended difficulty merging my accounts, but they continued to help me with this until it was solved.
Review by Tradelink Heydet1 month ago
Interactive Brokers has an overall service level for advisor's with clients using the platform that is very poor. Notable issues are (1) lack of testing of technology changes causing user difficulties that should have been caught before rolled out live, (2) Estate Processing is a disaster. It is often hard to get a hold of a representative and processing takes 6 weeks which is cumbersome for families dealing with after-death circumstances, (3) new clients not receiving security cards in a timely manner or, even worse, receiving those of other customers, and (4) just a general lack of attention and focus on making the experience better for advisors.
Review by Luzbella1 month ago
Best broker in Canada. Reasonable rates for all their services. TWS platform could be modernized but other than that it's a great product all around.
Review by Mark Kloosterhuis1 month ago
It was such a painful experience to me that I contacted so many companies and recommended traders to help me recover back my lost funds from scam brokers and none of them could render me the help I needed most but only Mrs Elizabeth who helped me recover back all my money. Here is her email.... [email protected] com