Access to webinars, detailed performance and tax reports, as well as a comprehensive menu of third-party services. A broker with higher commissions and spreads will generate more revenue than a similar sized broker with lower spreads. This is why it has a very high average volume per client compared to other brokers. Please also note that the ratings we give to forex brokers are based on our own research and criteria, but do not represent an endorsement or a critique of any broker. The major forex brokers in Australia are also very successful in other English speaking countries as well as in China and Southeast Asia. Every review goes through a rigorous verification process to maintain editorial separation and ensure an unbiased ratings result. The best news about the tiered pricing is that in case an exchange offers rebate, the savings are passed onto the customer if you add liquidity to the markets.
Interactive Brokers' forex vendors provide 60% 2 of global market share. Our tight spreads and substantial liquidity are a result of combining quotation streams from 16 of the world's largest foreign exchange dealers which constitute more than 60% 2 of the market share in the global interbank market.
Shifting to charting within the TWS desktop platform, there are available studies that can be added to a chart, which is far above the industry average of 42 compared to other brokers reviewed, and only surpassed by thinkorswim by TD Ameritrade, which has , followed by Dukascopy Bank with , and then City Index with The drawing tools were not as extensive, with only 10 to choose from, and while the number of customizations that can be made in the TWS platform is impressive, the complexity and long lists of possible configurations can be intimidating to unseasoned investors.
Moving to the web-based version of the TWS, Interactive Brokers is light compared to the desktop version, as far as functionality goes. It comes equipped with everything traders need to go about their business, specifically trading, but lacks the depth of its desktop counterpart. Unless you cannot access the desktop, or you prefer a more simplified trading environment, then web-based TWS is worth checking out. Otherwise, stick with the flagship desktop TWS platform. The advanced features of the desktop version are positive attributes compared to other platforms from multi-asset brokers that lack depth of options, such as Plus or XTB.
TWS finished Best in Class in our review. Interactive Brokers offers several mobile applications, including its TWS mobile trading app for Android smartphones and tablets as well as all iOS devices, including iPhone, iPad, and the Apple Watch. My testing was conducted using the Android smartphone app. Charting within the mobile app had nearly one-third less indicators than the desktop platform, but it still packed in 70 indicators, which is far more than most brokers offer in their mobile apps or even on their desktop and web platforms.
Surprisingly, one drawback was the lack of drawing tools, including the ability to plot a trend line. Otherwise, Indicators were easy to add, and can be saved as a template for quick analysis on other charts. Charting aside, the TWS mobile app is easy to navigate and offers a good range of sophisticated tools, ranging from the trading assistant to customized scanners, and most recently the iBot chat bot. Other parts of the app, such as the complex order dialogue and watch list management, are not as easy to figure out, yet provide sophisticated functionality such as multi-leg options trading.
Overall, Interactive Brokers provides a great mobile experience that competes among the best multi-asset brokers in the industry. Besides the algorithmic-driven orders, Interactive Brokers offers multiple options for algorithmic traders or those who wish to connect programmatically via API using various protocols across its trading platforms, including the FIX CTCI platform for traders who need to build their own trading systems.
In , Interactive Brokers launched Bitcoin futures, helping to position itself to cater to the growing demand from traders and investors who look for exposure to speculative digital assets within their portfolios. While futures are offered, CFDs are not, which reflects the conservative focus of Interactive Brokers management. Until cryptocurrencies are well established, we do not anticipate further support beyond futures contracts. With nearly every type of forex instruments available across 85 currency pairs, including spot, forwards, futures and options trading, Interactive Brokers provides a diverse and bespoke offering for currency traders, on top of over CFDs across global markets.
For low-volume traders and beginners, I do not recommend Interactive Brokers. Even though experienced traders will require time to learn the TWS platform, Interactive Brokers is a great choice for professional and active traders. For our Forex Broker Review we assessed, rated, and ranked 43 international forex brokers.
Each FX broker was graded on variables. 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.
Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry. Customer support is not available on Saturdays. Live chat and email support is also available. The Knowledge Base also supports streaming news and helpful videos. Another note on customer service: A search might even lead you to believe that IB offers poor customer service.
Also, for the right person , key words! Benzinga is a fast-growing, dynamic and innovative financial media outlet that empowers investors with high-quality, unique content. Login Email Password Forgot your password? Melissa Brock Contributor, Benzinga October 16, Best For Day traders Penny stock traders Forex traders.
Pros Interactive Brokers offers the lowest margin rates in the industry Low pay-per-share commissions on stock trades up to 1, shares and on options trades up to 20 contracts Vast order types options for professional traders. Here, too, the minimums are high for all but very frequent traders. The website and trading platforms are clearly geared toward advanced traders. But less-active beginners might be best served somewhere else.
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Interactive Brokers Competitors
Sep 19, · Interactive Brokers data is cheap, but it is not comparable with professional data feeds. -> The real-time tick data is snapshot data and not genuine tick data. -> Real-time volume is zooguillem.gas: Interactive Brokers (IB) is a low cost provider of trade execution and clearing services for individuals, advisors, prop trading groups, brokers and hedge funds. IB's premier technology provides direct access to stocks, options, futures, forex, bonds and funds on over markets worldwide from a single IB Universal account. Member NYSE, . Largest Forex Brokers by Volume in A lot has changed in the retail forex market in the last two years. Without a doubt, the Swiss National Bank (SNB) decision in January to stop supporting the Swiss Franc (CHF) was the biggest event of