Home | Interactive Brokers LLC (2024)

FAQs

Is Interactive Brokers LLC legit? ›

The company has historically catered to institutional and high-volume traders, and IBKR continues to meet the needs of these customers, earning our top choice for best broker for advanced traders, international trading, algorithmic trading, and risk management, cash management, among other categories.

In order to day trade, the account must have at least 25,000 USD in Net Liquidation Value, where Net Liquidation Value includes cash, stocks, options, and futures P+L.

Applications will be processed within 36 business day hours of the receipt of the application under normal business conditions. If we have received your funds, you may begin to trade. Funds received by 16:00 ET are available for trading the next business day under normal business circ*mstances.

IBKR is regulated by the SEC, FINRA, NYSE, FCA and other regulatory agencies around the world.

Interactive Brokers LLC (IB) is an American multinational brokerage firm. It operates the largest electronic trading platform in the United States by number of daily average revenue trades.

IBG LLC

Interactive Brokers

Since IBKR does not make proprietary bets, the risk of IBKR going bankrupt and client funds being tied up in a liquidation is significantly less than other broker-dealers that which take proprietary positions.

Interestingly enough, your assets in USD with Interactive Brokers are protected by the Securities Investor Protection Corporation (SIPC). This means that in the event of bankruptcy, customers are protected for amounts up to $500,000. This is a lot more than your assets held in €.

Unfortunately, Interactive Brokers is not considered good for beginners. If you'd like to see alternatives, check out our picks for the Best brokers for beginners.

Broker Accounts

A USD 10,000 (or non-USD equivalent) up front deposit will be required that will be applied against commissions during the first 8 months.

How much does Interactive Brokers charge for withdrawal? ›

No worries - Interactive Brokers is a reliable broker that lets you access your funds any time. You can use only bank transfers to withdraw funds. In most cases, you can get your money back within 2 days. Interactive Brokers charges $0 for basic withdrawals, but some methods may cost more.

For US Persons, IBKR issues 1099 forms in a consolidated format. Most 1099 forms will appear on one statement rather than as separate forms. Information reported on the Consolidated Form 1099 is also reported to the IRS and should be reported on your federal tax return.

IBKR is currently integrated with the following Custody Banks: Bank of New York. Fifth Third Bank. Huntington Bank.

"Because Interactive Brokers' core clientele are professional traders and institutional investors (e.g., hedge funds), it is crucial to provide the lowest commissions schedule available. In our rigorous assessment, there is no question Interactive Brokers delivers."

Interactive Brokers LLC 2 Pickwick Plaza, Greenwich, CT 06830 - member NYSE, FINRA, SIPC.

Interactive Brokers (India) Private Limited offers only services as permitted under the NSE, NSDL and SEBI regulations.

Unlike a mutual fund investor, you continue to be the direct owner of the underlying securities that are held in your own brokerage account. Your assets are held in an Interactive Brokers LLC brokerage account in your own name.