Interactive Brokers – Is it Legit? (March 2024)

Interactive Brokers offers multiple trading platforms, the platform that is offered is based on your trading location and other factors. These include:

Trader Workstation (TWS) is an advanced trading platform designed for active traders and investors, offering the ability to trade stocks, options, futures, currencies, bonds, and funds across more than 150 markets worldwide from a single, integrated platform. Its Mosaic interface provides intuitive usability, combining trading, order management, charting, watchlists, and portfolio tools in a customizable workspace. Users can access direct trading functions, real-time quoting, technical analysis tools, and manage orders and portfolios easily. TWS also features comprehensive news, research, and market data access, including real-time updates from leading news services and world-class analyst research.

Key features include:

• Multiple order types and trading algos to limit risk and optimize execution.
• Real-time monitoring to stay informed on account status and market conditions.
• Customizable alerts and watchlists to track market changes and trading opportunities.
• Integrated research, news, and market data from top providers like Reuters and Dow Jones.
• Classic TWS for advanced tools and quick click order entry, alongside the intuitive Mosaic interface for a comprehensive trading experience.

Interactive Brokers’ Client Portal is designed for ease of use, allowing investors to view, trade, and manage their accounts through a single login without any downloads. It streamlines account management by providing a clear, comprehensive overview of your investments and financial metrics in one intuitive interface. Here are the highlights:

• Streamlined Account Overview: The Client Portal offers a simplified view of your account, displaying essential metrics like Net Liquidation Value, P&L, and Buying Power in real-time.
• Portfolio Performance Tracking: It features easy-to-understand charts for tracking both cumulative and monthly returns, helping you gauge your investment performance over time.
• Efficient Organization: All crucial information, including rate of return, portfolio positions, recent transactions, and notifications, is neatly organized on the homepage for quick monitoring and trading.
• Comprehensive Access: With one login, you get access to everything you need to manage your account, including placing orders, viewing recent trades, and accessing messages and notifications.
• Advanced Features: The portal provides detailed quotes, customizable charts with technical indicators, and a live news stream to keep you informed about relevant market developments.

The Client Portal by Interactive Brokers merges simplicity with functionality, offering an all-encompassing tool for efficient account management and investment oversight.

For advanced traders they also offer APIs, and other tools.

Alongside this easy access to a bevy of tools, Interactive Brokers does well by appealing to a broad range of investors through its various platform tiers.  As previously mentioned, these include both IBKR Lite and IBKR Pro.

While IBKR Pro gives a full-fledged trading experience, those who choose an IBKR Lite account will have access to a streamlined service and fees to reflect casual trading habits.  Interactive Brokers indicates that users are not locked into a chosen tier, and can change if they like.

With such a broad range of services, platforms, and fee structures available, it is obvious that Interactive Brokers and its intuitive interfaces receive full marks.