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General


Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities and foreign exchange around the clock on over 135 markets in 23 currencies, from a single IBKR Integrated Investment Account, to clients from over 200 countries and territories. We service individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation have enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. Barron’s ranked Interactive Brokers #1 - Best Online Broker four years in a row in its February 26, 2021, Best Online Broker Review. 1

  • IBG LLC was founded by its Chairman, Thomas Peterffy. Over the last 43 2 years, it has grown internally to become a major securities firm with equity capital exceeding USD 10.01 billion 3.
  • Interactive Brokers' headquarters is in Greenwich Connecticut, and it has 2,400+ employees in its offices in the United States, Switzerland, Canada, Hong Kong, United Kingdom, Australia, Japan, Hungary, Russia, India, China, Luxembourg, Ireland, Singapore and Estonia. IBKR is regulated by the SEC, FINRA, SFA and other regulatory agencies around the world.
  • IBKR is among the largest electronic brokers based on daily average revenue trades (DARTs) executing 2,260,000 trades per day4.
  • Interactive Brokers Group 2 has consistently been at the forefront of trading innovation, starting with the invention of the first floor-based handheld computer in 1983.
  • Standard & Poor's issues investment grade ratings to both IBG LLC and IB LLC (IBKR).

Question Answer

In what year did you begin brokerage operations?

1993

The original organization was first created as a market maker in 1977

Ending Client Equity (as of 10/1/2021)

USD 353.8 billion

52% higher than prior year and 3% lower than prior month.

Equity capital

USD 10.01 billion

Excess regulatory capital

USD 6.2 billion

Number of client accounts (as of 10/1/2021)

1.54 million

57% higher than prior year and 3% higher than prior month

Daily Average Revenue Trades (DARTs) (as of 10/1/2021)

2,260,000

16% higher than prior year and 4% higher than prior month

Minimum to open a brokerage account

USD 0.00

Number of market centers worldwide

135

Number of currencies

23

Account insurance provided over SIPC

Excess SIPC coverage per account: USD 30 million, including USD 900,000 for cash. Excess SIPC coverage cap: USD 150 million.

In addition, for clients who have received the full SIPC protection, the Lloyd's policy provides up to an additional USD 30 million (including USD 900,000 for cash), subject to an aggregate limit of USD 150 million.

Products & Commissions


Product Commissions Notes

Stocks and ETFs

USD 0.0005 to USD 0.0035 per share* (based on volume)

* Plus, exchange, regulatory, and clearing fees, and if an exchange provides a rebate, we pass some or all the savings directly back to clients.

IBKR clients access the IB SmartRoutingSM system, which provides $0.47 per 100 shares price improvement vs. the industry5

Clients can trade Stocks on 83 market centers in 27 countries.

As an accommodation, IBKR also offers a fixed commission plan at USD 0.005 per share.

There are 10,652 stocks available to trade in fractional shares as of 10/4/2021.

Minimum fractional-share trade is USD 0.01

Interactive Brokers was the first to offer fractional share trading and, based on our research, what is publicly stated on other companies' websites, we offer a larger selection of securities available for fractional share investing than any other broker.

Interactive Brokers has a "fee waived" no transaction fee (NTF) program for exchange-traded funds (ETFs) where we will reimburse IBKR clients for commissions paid on ETF shares held for at least 30 days.

Options

USD 0.65/contract

  • Lower rates for low premium contracts
  • Minimum USD 1.00
  • Volume tier discounts down to USD 0.15/contract

Assuming option premium is greater than 10 cents.

Clients can trade Options on 34 market centers in 18 countries.

These options costs are the maximum. If you do more volume in a month, it goes down to USD 0.15 per contract with no extra charge.

Futures

USD 0.25 to USD 0.85 per contract plus exchange, regulatory and carrying fees.

Clients can trade Futures on 31 market centers in 18 countries.

Bonds

Corporate bonds:
0.1% * first USD 10,000 face value, plus 0.025% * face value above USD 10,000. Min USD 1.00 per transaction and max fee of smallest value between USD 250.00 or 1% of trade value.

Municipal bonds:
0.05% * first USD 10,000 face value, plus 0.0125% * face value above USD 10,000. Min USD 1.00 per transaction and max fee of smallest value between USD 125.00 or 1% of trade value.

Treasury bill, note and bonds:
0.002% for first USD 1 million, with a USD 5.00 minimum.
Additional face value is 0.0001% times face value with USD 5.00 minimum.

IBKR offers low and fully transparent commissions on bonds, with no mark-up on bond prices, and provides access to a full universe of US government securities, corporate bonds, municipal securities, CDs, and non-US sovereign bonds, plus fixed income futures and fixed income options.

Mutual funds

Inside the US: the lesser of 3% of trade value or USD 14.95 flat rate.*

Outside the US: EUR 4.95 or currency equivalent.*

*For funds not in the No Transaction Fee (NTF) program

Total Number of U.S. Funds: 11,229
No Fee Funds (free): 4,331 (39%)
Fee Funds: 6,898 (61%)

Total Number of Offshore (Non-U.S.) Funds: 33,533
No Fee Funds (free): 3,689 (11%)
Fee Funds: 29,844 (89%)

(as of 10/22/2021)

Neutral – no proprietary funds.

Spot currencies

0.08 to 0.20 basis points * Trade Size

Direct access to interbank quotes. No hidden price spreading, no markup, no kickbacks. Just the combination of real time prices from 17 of the world's largest FX dealing banks plus a transparent, low commission that avoids the conflict of interest of FX platforms which deal for their own account.

Our tight spreads and substantial liquidity are a result of combining quotation streams from 17 of the world's largest foreign exchange dealers. This results in displayed quotes as small as 1/10 PIP wide.

23 trading currencies including USD, AUD, CAD, CHF, CNH, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RUB, SEK, SGD, TRY, ZAR and KRW (with special conversion functionality).

Non-US products are available at equivalent low rates.

Financing


Financing Rates Notes

Current margin rates

0.75% to 1.59%

Rate charged is based on the Benchmark rate +2.5%.

Rates charged decrease depending on the size of the debit balance. Benchmark rate +0.3% to 1.5%.

Current rates and tiers can be viewed here.

Interactive Brokers is consistently offering the lowest margin rates of all competitors. See comparison here: ibkr.com/compare

Other Fees


Category Fees Notes

Monthly inactivity fee

USD 0.00

Inactivity fees have been eliminated as of July 1, 2021.

Platforms


Category Description

Trader Workstation

Trader Workstation (TWS) is our flagship platform designed for active traders and investors who trade multiple products and require power and flexibility, TWS includes all of our most advanced algos and trading tools, and offers a library of tool- and asset-based trading layouts for total customization. See Trader Workstation(TWS)

IBKR Mobile

Our IBKR Mobile smartphone app for iOS and Android makes it easy to trade and monitor your IBKR account on-the-go. It includes many of the same advanced capabilities as our flagship desktop trading platform, such as chart trading and options analysis, and supports trading in all the product types we offer. See IBKR Mobile

Client Portal

Client Portal is our one-stop, web-based platform to check quotes and place trades, see account balances, P&L and key performance metrics, funding, reporting, and more. See Client Portal

Tools


Category Description

Stock and ETF Tools

Fundamentals Explorer
Fundamentals Explorer provides comprehensive, worldwide fundamentals data to IBKR clients at no cost. It covers over 30k companies, shows more than 300 data points per company, has more than 80 sources for newswires and reports and features 5.5k+ analyst ratings from TipRanks. See Fundamentals Explorer

Fractional Shares
With the introduction of fractional shares, Interactive Brokers created Cash Quantity Stock Orders, which let clients placer orders in a specific dollar amount instead of specifying the number of shares - eliminating the need to pull out a calculator. See Fractional Shares

Short Securities Availability
The Shortable Instruments (SLB) Search tool is a fully electronic, self-service utility that lets clients search for availability of shortable securities from within Client Portal. See Short Securities Availability

Mutual Fund/ETF Replicator
Use the Mutual Fund/ETF Replicator to identify and invest in lower cost ETFs with similar strategies to higher-fee mutual funds. See Mutual Fund/ETF Replicator

Stock Yield Enhancement Program
Earn extra income on the fully-paid shares of stock held in your account by allowing IBKR to borrow shares from you in exchange for cash collateral, and then lend the shares to traders who want to sell them short and are willing to pay interest to borrow them. See Stock Yield Enhancement Program

Social Sentiment by Social Market Analytics (SMA)
Spot positive and negative changes in investor attitudes with Social Market Analytics’ (SMA) patented social sentiment processing technology. See Social Sentiment

Options Tools

OptionTrader
IBKR's proprietary trading tool for executing speculative trades or building complex, multi-leg orders to hedge a position. See OptionTrader

Options Portfolio
Options Portfolio continuously and efficiently scours market data for low-cost option strategies to bring a portfolio in line with user-defined objectives for the Greek risk dimensions (Delta, Gamma, Theta and Vega). See Options Portfolio

Mobile Options Trading
Exercise options wherever you are with our new mobile option exercise tool. Choose a strategy and then simply tap different tiles in the grid to quickly change the legs that are part of the strategy. See Mobile Options Trading

Options Analytics
Manipulate key option pricing criteria – including price, time and implied volatility – and visualize the impact on premiums. See Options Analytics

Options Strategy Lab
Generate potentially profitable stock and option combinations, based on your forecast for stock and ETF prices, market volatility and other market variables. See Options Strategy Lab

Probability Lab
Redefine the price and volatility outlook for an underlying stock or ETF, and identify potentially profitable options strategies, based on that view. See Probability Lab

Futures Tools

ComboTrader
Create proprietary combination order strategies or choose from multiple templates with pre-defined programs to execute futures trades. See ComboTrader

SpreadTrader
Seamlessly integrated into Trader Workstation (TWS), SpreadTrader is the single-screen command center for managing futures positions. See SpreadTrader

Index Arbitrage Meter
Analyze index arbitrage strategies with the Index Arbitrage Meter, our measurement tool that illustrates the spread between futures contracts and their respective spot prices. See Index Arbitrage Meter

Bond Search Tool

IBKR offers low and fully transparent commissions on bonds, with no mark-up on bond prices, and provides access to a full universe of US government securities, corporate bonds, municipal securities, CDs, and non-US sovereign bonds, plus fixed income futures and fixed income options. This is one of the easiest ways to get pricing on bonds, rather than calling around to various brokerages. See Bond Search Tool

Mutual Fund Search Tool

The Interactive Brokers Mutual Fund Marketplace provides our clients access to funds worldwide including access to no-load funds from over 400 fund families. It can be accessed by clients from over 200 countries and territories and includes many prominent fund families, including funds from Allianz, American Funds, BlackRock, Fidelity, Franklin Templeton, Invesco, MFS and PIMCO. Over 7,700 funds are available with no transaction fees.

The Mutual Fund Search Tool can be used to identify funds by your country of residence, commission charged, fund type or fund family. See Mutual Fund Search Tool

Portfolio Management Tools

PortfolioAnalyst
PortfolioAnalyst is a robust performance reporting tool that lets you see the performance of all your financial accounts in one place on any desktop or mobile device. You can quickly link your investment, checking, savings, annuity, incentive plan and credit card accounts held at almost any financial institution. You can see summary values at a glance for each individual financial institution or consolidated across all financial institutions and different time periods, including current and prior balances, return percentage, and percent change in value. The tool also lets you drill down to view positions and transactions by account or by asset class.

PortfolioAnalyst is also avaiable as a standalone product for non-clients. Standalone PortfolioAnalyst is also free. The tools shows how much money people could potentially save or earn if they had an Interactive Brokers account. See PortfolioAnalyst

Portfolio Checkup
Portfolio Checkup is an easy-to-use online portfolio analysis tool that provides people with a single page analysis of their current financial situation. This tool is also free for clients and non-clients.

With Portfolio Checkup, investors can:

  • Measure performance against 230 industry benchmarks or their custom benchmarks and toggle between money and time weighted returns with the click of a mouse.
  • Use risk metrics such as max drawdown, peak-to-valley, Sharpe ratio and standard deviation to understand at a glance their portfolio’s risks relative to returns.
  • Understand their portfolio exposure by geography, sector and asset class.

See Portfolio Checkup

Mutual Fund / ETF Parser
Also part of the PortfolioAnalysis tool, Mutual Fund / ETF Parser categorizes the individual components of stocks within mutual funds and exchange traded funds. This lets investors get an accurate, granular picture of their overall exposure to asset classes, industry sectors, and companies. See Mutual Fund / ETF Parser

Sustainable Investing

Environmental, Social and Governance (ESG)
ESG scores from Refinitiv give you and your clients a new set of tools for making investment decisions based on more than just financial factors. See Environmental, Social and Governance (ESG)

Impact Dashboard
Use the Impact Dashboard to identify and invest in companies that share the values held by your clients. See Impact Dashboard

API Solutions

Our proprietary API and FIX CTCI solutions let institutions create their own automated, rules-based trading system that takes advantage of our high-speed order routing and broad market depth. See API Solutions

Order Types and Algos Tools

Order Types and Algos
100+ order types – from limit orders to complex algorithmic trading – help you execute any trading strategy. See Order Types and Algos

Accumulate/Distribute
The Accumulate/Distribute algo can help you to achieve the best price for a large volume order without being noticed in the market, and can be set up for high frequency trading. See Accumulate/Distribute

IB Risk Navigator

The Risk Navigator is a real-time market-risk management platform that provides a comprehensive measure of risk exposure across multiple asset classes around the globe. See IB Risk Navigator

Model Portfolios

Advisors can use a more organized approach to investing client assets with Model Portfolios. Construct a custom portfolio of financial instruments, and then trade this model on behalf of your clients. See Model Portfolios

IBot

IBot is an Artificial Intelligence-powered resource that provides access to a wide spectrum of information, account data and trading tools. With IBot you can speak or type plain English commands to:

  • trade stocks, options, futures, currencies and bonds
  • get quick account information and manage your account
  • get detailed quotes, run advanced scanners, see charts and fundamentals
  • get fast answers to common issues and questions that previously had to be answered by Client Services

IBot can respond to:

  • Plot SPY
  • What's my P&L
  • Chart AAPL vs MSFT
  • Show my filled orders
  • Buy 300 shares of IBKR
  • Show top tech companies by volume
  • and much more

Available within Trader Workstation, Client Portal and IBKR Mobile. See IBot

Education – IBKR Campus


Category Description

Traders' Academy

51 courses including over 300 lessons.

Interactive Brokers' Traders' Academy is intended for financial professionals, investors, educators and students seeking a better understanding of the asset classes, markets, currencies, tools and functionality available on IB's award-winning Trader Workstation (TWS), IBKR Mobile, Account Management and TWS API applications. Please see www.tradersacademy.online for more information.

Our complimentary courses use a blended delivery method of lessons, videos, quizzes, and notes to help TWS users improve their understanding of its tools and capabilities. See Traders' Academy

IBKR Webinars

Watch, listen and learn about current market topics, IBKR tools and more by participating in any of our free webinars or browsing our extensive offering of recorded webinars. Topics span market research, fundamental & technical analysis, options trading strategies, institutional topics, algorithmic trading, trader tax issues, and more. See IBKR Webinars

Traders' Insight

Traders' Insight, our market commentary blog, features written and video market commentary from nearly 100 contributors. In addition, IBKR's Chief Strategist Steve Sosnick offers market commentary and Senior Analyst Steve Levine provides weekly previews. See Traders' Insight

IBKR Quant

The IBKR Quant Blog serves quantitative professionals who have an interest in programming. Discussion topics include deep learning, IBKR API, artificial intelligence (AI), Blockchain and other transformative technologies influencing modern markets. Discussions about R, Python and other popular programming languages often include sample code to help you develop your own analysis. See IBKR Quant

Student Trading Lab

A free online resource for educators looking to blend finance or computer science classwork with real-world trading experiences. See Student Trading Lab

Disclosures
  1. For more information, click here
  2. Includes Interactive Brokers Group and predecessor companies.
  3. Includes Interactive Brokers Group and its affiliates.
  4. Based on the latest Interactive Brokers Group Brokerage Metrics report.
  5. Average net benefit is calculated using IHS Markit® price improvement and IBKR monthly execution statistics. For more information see ibkr.com/info.
  • As of 04/01/2021

The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed income can be substantial. Options are not suitable for all investors. For more information read the "Characteristics and Risks of Standardized Options". For a copy click here.

Your capital is at risk and your losses may exceed the value of your original investment.

Interactive Brokers (U.K.) Limited is authorised and regulated by the Financial Conduct Authority. FCA Reference Number 208159.

Interactive Brokers LLC is regulated by the US SEC and CFTC and is a member of the SIPC (www.sipc.org) compensation scheme;
products are only covered by the UK FSCS in limited circumstances.

Before trading, customers must read the relevant risk disclosure statements on our Warnings and Disclaimers page.

For a list of IBG memberships worldwide, click here.