Item: Interactive Brokers Promotions
Rating: 4.5
Author: Chris Andrews

Interactive Brokers offers, bonuses, incentives, promo codes for free trades to open new brokerage or IRA account.

Interactive Brokers Promotion

Interactive Brokers offers the following promotion for opening a new account in the United States:

Open IB Account

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Interactive Brokers Overview

Interactive Brokers (IBKR) is a solid choice for a trader who needs quick access to the markets and the ability to trade multiple markets with multiple products around the world. This review is going to highlight some of the features that potential clients should consider when deciding to use Interactive Brokers as their primary discount broker.

Interactive Brokers Commissions and Fees

IBKR offers some of the lowest commissions and fees. There are two commission structures available for clients. First is a fixed pricing structure. This fee structure charges clients a fixed rate commission per share. The second pricing structure is a tiered structure, which offers a sliding scale on commissions depending on how much the client trades.

Choosing the right commission structure depends entirely on how much trading is done. If trading is less frequent then the fixed pricing scheme is often the better choice. However, each trader should run the calculations based on their own trading frequency to determine which fees structure will offer the best value.

Commissions are not the only fees a client will need to pay. Most brokers require clients to pay additional fees above and beyond trading commissions, and Interactive Brokers is no different. For example, getting access to Level II trading data from the various exchanges will cost about $10 per month depending on which markets are traded. These fees can add up, so it is important to review exactly what data is required so make sure the right data packages are selected.

Available Trading Platforms

Although most people make their choice of broker based on commissions and fees, it is also important to consider a broker’s available trading platforms. The functionality and ease of use of the broker’s trading platforms will have a huge impact on the overall user experience and ability to perform well as a trader or investor.

Interactive Brokers has thrown a lot of money and resources into their trading platforms, and it shows. The company offers a variety of well designed trading platforms that will more than likely meet the needs of most traders and investors. For example, if a simple stock trade is required, then the web based platform is more than adequate. However, if more customization is needed, including the ability to set up a multi-monitor environment, then the desktop version is the best choice. Finally, if a trader or investor needs to make a trade on the go, then the phone app is available. These platforms are available to customers free of charge.

Here is a quick summary of the trading platforms available to clients of Interactive Brokers:

Mobile: Mobile apps available for iOS and Android mobile devices that offers solid access to markets in an easy to use design.

Web: Designed with ease-of-use and the less sophisticated trader in mind, the web-based trading platform allows clients to make trades across various markets in an easy to use interface. This platform is called IB WebTrader.

Desktop: Called Trader Workstation (TWS), the desktop version is the full-featured, and highly customizable trading platform that gives traders and investors access to multiple order types, and multiple markets.

The Trader Workstation screenshot is presented below. Each of the sections of the screen have been individually selected and arranged as presented. This is only one example of what can be displayed.

Interactive Brokers Incentive Disclosure

Interactive Brokers promotions for 2020 can change at any time. Current Interactive Brokers incentive offers for opening new account brokerage or IRA account apply only to US citizens or legal residents.