Interactive Brokers Review 2025
The broker professionals use. Lowest margin rates, 150+ global markets, sophisticated platform. Powerful but not for everyone.
The Bottom Line
Interactive Brokers is the broker for professionals, active traders, and sophisticated investors. They offer the lowest margin rates, access to 150+ global markets, and professional-grade tools.
The trade-off is complexity. The Trader Workstation platform has a steep learning curve, customer service is limited, and the experience isn't designed for casual investors.
IBKR Lite vs IBKR Pro
Interactive Brokers offers two tiers:
- IBKR Lite: Commission-free stocks, uses PFOF, higher margin rates (6.83%)
- IBKR Pro: $0.005/share commissions, no PFOF, lowest margin rates (5.83%), best execution
If you're choosing IBKR specifically for their advantages, go Pro. Lite defeats the purpose—you'd get similar execution at Fidelity with better service.
What IBKR Does Best
Lowest Margin Rates
IBKR Pro offers 5.83% margin—lower than Robinhood Gold (5.75%) for most balances, and way below Fidelity (10.575%). For large margin users, this is thousands in annual savings.
Global Market Access
Trade stocks, options, futures, forex, and bonds across 150+ markets in 33 countries. Want to buy stocks in Tokyo, Frankfurt, or Sydney? IBKR makes it straightforward.
Currency Conversion
IBKR offers institutional-quality forex rates—far cheaper than the 1%+ spreads typical brokers charge for international trading.
Professional Tools
Trader Workstation (TWS) offers advanced charting, algorithmic trading, risk management tools, and real-time analytics. It's what professional traders actually use.
Where IBKR Falls Short
Learning Curve
TWS is intimidating. Expect to spend a weekend learning the platform before you're comfortable. This isn't Robinhood's one-tap simplicity.
Customer Service
Support exists but isn't great. Phone wait times can be long, and the ticket system is frustrating. Fidelity's 24/7 responsive support this is not.
Not Beginner-Friendly
IBKR assumes you know what you're doing. Minimal education, complex interface, professional terminology. New investors should start elsewhere.
Fees & Pricing
| Fee Type | IBKR Lite | IBKR Pro |
|---|---|---|
| Stock Trades | $0 | $0.005/share ($1 min) |
| Options | $0.65/contract | $0.15-$0.65/contract |
| Margin Rate | 6.83% | 5.83% |
| PFOF | Yes | No |
| Outgoing Transfer | $0 | |
Who Should Use IBKR
- Active traders who want low costs and best execution
- Margin users seeking the lowest rates
- International investors trading global markets
- Professional/institutional traders needing sophisticated tools
- Experienced investors comfortable with complex platforms
Who Should Look Elsewhere
- Beginners: Start with Schwab or Fidelity
- Mobile-first users: Robinhood's app is better
- Those who value service: Fidelity's support is superior
- Casual investors: The complexity isn't worth it
The Verdict
IBKR is the best broker for people who know what they're doing and want maximum power at minimum cost. The margin rates, global access, and execution quality are unmatched.
But it's not for everyone. If you're not trading actively, using margin, or accessing international markets, the complexity isn't worth it. Fidelity offers 80% of the quality with 100% more user-friendliness.