Interactive Brokers Review

Interactive Brokers

Founded 1978

Minafi Score

60 /100

Usability Rating

4 /10

Cost Rating

1 /10

Trust Rating

10 /10

Retirement Score

5 /10

Company Age Score

5 /5

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Interactive Brokers Alternatives

All comparisons:

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Interactive Brokers

60

Minafi's Take

Interactive Brokers is a long-standing platform for trading focused on advanced day trading options. While not ideal for investors focused on long-term retirement investing, IB has industry-leading tools and software for options, futures, and other financial instruments.

If you’re planning to invest long-term for retirement then IB is overkill for your needs, but if you’re aiming to learn how to day trade, they offer courses and content to help learn the ropes.

Just The Facts

Here’s everything you want to know about Interactive Brokers.

Who Manages Your Money?

Interactive Brokers is categorized as a Self-Guided Account.

What Features Does Interactive Brokers Offer?

Interactive Brokers allows you to invest using at least 6 different account types, over at least 7 platforms.

How Much Does Interactive Brokers Cost?

Assuming a 0.25% expense ratio and a 0.25% drag on earnings due to day trading.

Current Promotions

Fees & Expenses View all fees

  • Depending on your tier, free trades for ETFs and mutual funds.
  • Minimum $0.35 per stock trade.
  • Somewhat confusing fee structure.

How Do I Sign Up?

Open an Account

Pros

  • Apps for every platform.
  • Just about every trading option you can imagine.
  • Lots of day trading options.

Cons

  • So much security, you’ll need to confirm your account 10x to just get setup.
  • Advanced configuration and options require training to use.
  • Extreme overkill if you’re aiming to just invest in ETFs and mutual funds for retirement.

Interactive Brokers Alternatives

Here's a look at how Interactive Brokers compares with it's closest competitors.

Interactive Brokers

60

Open An Account
Ratings
Rating Type Rating
Minafi Rating /10
Usability Score 4 /10
Cost Rating 1 /10
Trust Rating 10 /10
Company Age Score 5 /5
JD Power Score -
Overview
Overview Feature Included
Founded 1978
Min Investment $0.00
Classification
Accounts Offered
How to Access
Allows Investors from
Features
Feature Included
Automatic Investing
Automatic Rebalancing
Automatic Tax-Loss Harvesting
Checking Account
Fractional ETF Shares
Free Trades
Good for Beginners
Good for Day Trading
Good for Retirement
Sign Up Bonus
Fees & Expenses
Fee Type Included
Management Fee -
Monthly Fee -
Options Fee -
Trade Fee

Webull

70

Open An Account
Ratings
Rating Type Rating
Minafi Rating 7 /10
Usability Score 8 /10
Cost Rating 3 /10
Trust Rating 8 /10
Company Age Score 5 /5
JD Power Score -
Overview
Overview Feature Included
Founded 2017
Min Investment $0.00
Classification
Accounts Offered
How to Access
Allows Investors from
Features
Feature Included
Automatic Investing
Automatic Rebalancing
Automatic Tax-Loss Harvesting
Checking Account
Fractional ETF Shares
Free Trades
Good for Beginners
Good for Day Trading
Good for Retirement
Sign Up Bonus
Fees & Expenses
Fee Type Included
Management Fee -
Monthly Fee -
Options Fee -
Trade Fee -

Robinhood

37

Open An Account
Ratings
Rating Type Rating
Minafi Rating 5 /10
Usability Score 9 /10
Cost Rating 0 /10
Trust Rating 2 /10
Company Age Score 5 /5
JD Power Score -
Overview
Overview Feature Included
Founded 2013
Min Investment $0.00
Classification
Accounts Offered
How to Access
Allows Investors from
Features
Feature Included
Automatic Investing
Automatic Rebalancing
Automatic Tax-Loss Harvesting
Checking Account
Fractional ETF Shares
Free Trades
Good for Beginners
Good for Day Trading
Good for Retirement
Sign Up Bonus
Fees & Expenses
Fee Type Included
Management Fee -
Monthly Fee -
Options Fee -
Trade Fee -

Compare Interactive Brokers with other platforms »

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Open an Account

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