They simply use different graphical interfaces. The two systems provide a lot of the same tools. TWS offers two basic layouts: Classic and Mosaic. Doing so will give you some practice before committing real money. Unlike the client portal, you can launch the program in demo mode. It is found with the IB icon in the lower-right corner of the screen.įor a more advanced experience you can use Trader Workstation. I posed several questions to it and received both correct and incorrect answers. This is the company’s artificial intelligence.
The newest feature on the client portal is iBot. This means you can specify a whole-dollar amount instead of a whole number of shares.įor example, you can trade less than one share of Amazon, which is currently trading above $3,000 per share. Interactive Brokers recently added whole-dollar investing to its trade ticket on the client portal. Multiple watchlists with trading straight from a list.
This is a browser-based trading environment that has several good tools. The simplest trading experience will be found on Interactive Brokers’ client portal.
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When you find the asset you want to trade, Interactive Brokers has several software platforms to choose from. The tool also displays the fees and rebates that are available on a stock. What I really like about it is that it returns total equity shares that are available for shorting. Interactive Brokers has a web-based short locate tool that can identify bonds and stocks available for borrowing. Lite customers still get a very good rate at a flat 2.59% at any balance. Currently, Pro clients pay between 0.75% and 1.59% for margin debits, which is an absolute steal. IBKR Pro customers get lower margin rates than Lite customers. The exact value depends on the price of the stock. Overnight leverage is 2:1.įor short positions, initial and maintenance margin requirements vary from 100% to 30%. Interactive Brokers provides 4:1 leverage on intraday long positions.
In all cases, day and swing traders at Interactive Brokers get a lot of great tools. You can day trade futures or forex at Interactive Brokers without maintaining $25,000 in account equity. If you don’t have a foreign address and want to day trade securities, you’ll need $25,000 in assets. The only way around this policy is to have a foreign address on your account. Day TradingĪlthough Interactive Brokers is a global company, it does enforce America’s pattern day-trading rule for U.S. exchanges, they typically are less than a dollar per contract. On the Belgian exchange, for example, futures are €4.50 per contract. The primary advantages of the Pro system are:Ĭommissions for options and futures vary based on a wide variety of issues. Commissions on foreign assets vary by exchange. Commissions can be as high as 1% of trade value or as low as 35¢ for U.S. Traders can choose either a fixed or tiered schedule. Pro customers do have to pay commissions on U.S.-listed (and foreign-listed) stocks and ETFs. It is reduced by commissions paid during the month. Interactive Brokers is known for its $10 per-month maintenance fee, which it does assess on the IBKR Pro schedule. There is no minimum balance requirement, and perhaps most importantly, no monthly maintenance fee. The Lite plan offers commission-free trading in U.S.-listed ETFs and stocks. Interactive Brokers has two commission schedules: IBKR Lite and IBKR Pro. These include:īesides trading these products on the American exchanges, IB provides access to many foreign exchanges. Interactive Brokers specializes in global trading of a wide range of assets. Despite its new pricing schedule, it still provides some really good software. While many day-trading brokers continue to charge equity commissions, Interactive Brokers is one firm that has launched $0 trading.
Commissions are required to get the lowest margin rates.Commission schedules can be complicated.
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