Interactive Brokers review
- Stock Trading Fee
- min $1.00, max 0.5%
- Account Fee
- $0
- FX Fee
- 0.2 bps trade value, min $2.00
- Min. Deposit
- $0
- Available Asset Types
- Stocks, Bonds, Options, Index Funds, ETFs, Forex, Currencies, Futures
Our verdict
Interactive Brokers offers low fees and greater access to international investing than any other Canadian trading platform.
Consider Interactive Brokers if you want access to global markets and many types of investments and orders. Look elsewhere if you want a simple, beginner-friendly platform for basic stock trading.
Best for: Active, self-directed investors.
Pros
-
Fully online application
-
Access around 150 exchanges globally
-
Fund your account in 25+ currencies
-
Supports many investments and order types
-
Competitive rates for margin trading
Cons
-
$2–$12 per withdrawal (1 free/month)
-
Advanced features may be overwhelming for beginners
-
Monthly fee for real-time market data
-
No mutual fund or crypto trading in Canada
Interactive Broker’s features
| Fees | Low-fee stock and ETF trades. $2–$12 per withdrawal (1 free/month). Zero minimum balance. |
| Available securities | Trade stocks, ETFs, index funds, bonds, options, futures, forex, warrants and hedge funds. |
| Customer support | Support available by phone (5 days/week during business hours), chat (24 hours 5 days/week + Sundays), email or mail. |
| Mobile app | IBKR GlobalTrader users like the app’s simple, easy interface, but there are some complaints about glitches and feature limitations. IBKR Mobile app users generally like the interface, but some report problems from inconvenient features. |
| Research and tools | Wide range of research tools, and analysis from Morningstar, Zacks and Seeking Alpha. |
| Reliability | Little/no reports of downtime, and no major outages have been reported. |
Interactive Brokers is best for active, self-directed investors
Interactive Brokers is best suited to active or professional traders and those interested in day-trading. Experienced traders will enjoy features like low fees, tiered pricing based on trade volume, access to many investment platforms, portfolio tracking, live updates and company notifications.Where Interactive Brokers shines
Interactive Brokers offers almost unparalleled access to global investing. Customers can invest in more than 150 exchanges in over 30 countries. You can also choose between many different accounts (individual, joint, trust and registered) and order types (market, limit and stop, to name a few). Additionally, the platform’s margin trading interest rates are competitive, ranging from 3.393%–4.393% as of the time of writing.More pros of Interactive Brokers
- Versatile. Trade on desktop and mobile, and choose between apps for regular and active traders.
- Many order types. Supports over 100 different order types, including market, limit and stop orders.
- ESG investing. Choose from among 13 impact values around which to centre your investments with the Interactive Brokers IMPACT app.
- Fractional share trading. Invest as much as you’re willing to afford with fractional share trading.
Where Interactive Brokers falls short
Interactive Brokers‘s biggest advantage—its extensive features and vast array of tools—could be its greatest drawback for some investors. If you’re looking for a basic, uncomplicated trading platform with a simple fee structure to buy and sell stocks, then Interactive Brokers may not be right for you.IBKR Lite is not available in Canada. That means you can’t take advantage of unlimited, commission-free stock and ETF trades if you live in Canada. (IBKR Pro is available in Canada.)
Additionally, you’ll have to pay an extra monthly subscription fee that generally ranges from a few dollars to over $20 USD to stream real-time market data.
Interactive Brokers fees
| Minimum deposit | $0 |
| Annual fee | $0 |
| Stock and ETF trade fee | min $1.00, max 0.5% |
| Interest on margin trading | Around 3.4%–4.4% |
| Inactivity fee | $0 |
| Deposit and withdrawal fee | $0 deposits, 1 free withdrawal per month (then $2 CAD per EFT or $12 per wire transfer) |
Is Interactive Brokers legit?
Yes, Interactive Brokers Group is authorized and regulated by the Canadian Investment Regulatory Organization (CIRO), formerly the Investment Industry Regulatory Organization of Canada (IIROC), and the SEC in the United States as well as other international regulatory institutions.
Interactive Brokers offers many ways to trade
Interactive Brokers definitely lets you trade the way you want with multiple desktop apps, two mobile apps and APIs for advanced users who want to customize their own interfaces.Client Portal is the primary basic desktop app that lets you get quotes, make trades, view performance data and more. Active traders and experienced investors can use Trader Workstation, which offers a more complex, powerful interface and more market data.
Interactive Broker’s mobile apps
Interactive Brokers offers 2 mobile apps: IBKR GlobalTrader, a simplified app for beginners, and IBKR Mobile, a more complex app for experienced investors.Users praise IBKR GlobalTrader for being simple and easy-to-use but criticize its limited features. IBKR Mobile gets good feedback for its design but draws criticism for being complex and sometimes slow.
Interactive Broker’s desktop tools
Desktop TWS
With Interactive Broker’s advanced TWS platform, you can access news and research from sources like Morningstar Equity Ownership, Zacks Investment Research and Seeking Alpha. Fundamentals Explorer lets you access comprehensive, worldwide fundamentals data including historical trends, industry comparisons, key ratios, forecasts, ratings, ownership information and more.
Use IBot, a voice-activated chatbot, to place orders and get answers to market and company queries. All traders in Canada have access to Trader Workstation (TWS), a powerful trading platform with advanced tools for more experienced and active investors.
With Portfolio Builder, you can create custom portfolio strategies using historical data and research. GlobalAnalyst makes it easy to compare stocks by region, country and industry.
IBKR Desktop
More user-friendly than TWS, IBKR Desktop offers a streamlined platform on which you can trade stocks, options and futures. Features you won’t find on any other IB platform include multisort, which lets you filter data using multiple factors, and an option lattice, which shows historical stock prices for the last 30 days with metrics like option volume, open interest and implied volatility.
The idea is to help you visualize current options activity on the market and make educated decisions about how this activity will develop in the future.
Other features of IBKR Desktop include custom layouts, screeners, market news and research, watchlists, Fundamentals Explorer and advanced charting tools.
Interactive Broker’s app store reviews
| Google Play app reviews | IBKR GlobalTrader: 3.9/5 stars based on 849 reviews IBKR Mobile: |
| Apple App Store app reviews | IBKR GlobalTrader: 2.6/5 stars based on 22 ratings IBKR Mobile: |
Interactive Broker’s customer support
You can contact the Interactive Brokers Canada helpdesk by phone, chat or email. Service is available Monday through Friday from 6:00am to 3:30pm EST.
- Phone
- Online chat
- Email support
How to open an account with Interactive Brokers
- Select the Sign up now button below. Use the QR code to download the Interactive Brokers mobile app. Open the app and select Sign up.
- Enter your email address, username and country and make a password to create an account.
- Verify your email address, and complete the online application with details such as your personal and employment information, Social Insurance Number (SIN), your base currency and the type of account you want to open.
- After submitting the application and any required documents, wait 1-2 days for approval.
- Deposit funds to begin trading.
Eligibility and required information
- At least the age of majority your province or territory
- Basic personal information like your legal name, citizenship, residential address and email
- Social Insurance Number (SIN)
- Existing bank account to fund your account
- Employer’s name and address
- Identification like your passport, driver’s license or provincial ID card
- Proof of address like a recent utility bill or government document
- Basic financial info like your assets and income
How safe is Interactive Brokers?
Interactive Brokers follows industry-standard best practices for protecting users’ information and money including data encryption, automatics logoff, multi-factor authentication and IBKR Mobile Authentication for an added layer of security when logging into mobile devices. Trader Workstation users can restrict access based on IP address.The platform is regularly monitored for suspicious activity. Additionally, funds held in eligible accounts are protected by the Canadian Investor Protection Fund (CIPF).
Compare Interactive Brokers with other platforms
Interactive Brokers
Available Asset Types
Stocks, Bonds, Options, Index Funds, ETFs, Forex, Currencies, Futures
Stock Trading Fee
min $1.00, max 0.5%
Min. Deposit
$0
Signup Offer
N/A
CIBC Investor's Edge
Available Asset Types
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, Precious Metals, IPOs
Stock Trading Fee
$6.95
Min. Deposit
$0
Signup Offer
Get 100 free trades when you open a CIBC Investor’s Edge account using promo code EDGE2425. Plus, get $200 or more cash back. Valid until March 31, 2025.
Questrade
Available Asset Types
Stocks, Bonds, Options, Mutual Funds, ETFs, Forex, GICs, Precious Metals, IPOs
Stock Trading Fee
$0
Min. Deposit
$0
Signup Offer
N/A
Frequently asked questions
Your reviews
Stacie Finder
Associate editor
Hi there, looking for more information? Ask us a question.
You are about to post a question on finder.com:
- Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
- finder.com is a financial comparison and information service, not a bank or product provider
- We cannot provide you with personal advice or recommendations
- Your answer might already be waiting – check previous questions below to see if yours has already been asked
Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use & Privacy Policy and Privacy and Cookies Policy.
This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.
