There is no minimum balance required for an IBKR Lite account and no monthly maintenance fee. Cancel Application . The hottest global brokerage firm has finally planted roots in Singapore. If you are a “buy and hold”/long-term investor with only a few hundred bucks to your name, you could use IBKR Lite or Robinhood with few issues. Fractional shares: The ability to purchase a portion of a company's stock, rather than a full-priced share, makes it easier to invest in companies that have lofty share prices. As noted above, Interactive brokers opens the door to investing on 135 exchanges in 33 countries, and lets clients fund and trade accounts in 23 currencies. Interactive Brokers pro vs. lite. The platform is fast and includes standard features such as real-time monitoring, alerts, watchlists and a customizable account dashboard. But both IBKR Lite and IBKR Pro traders seeking something more powerful can now enjoy access to Interactive Brokers’ Desktop Trader Workstation, which is considered one of the best trading platforms available for advanced traders. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Andrea Coombes is a former NerdWallet authority on retirement and investing. 35. Our estimates are based on past market performance, and past performance is not a guarantee of future performance. Interactive Brokers Review: IBKR Lite With the ongoing price wars among brokers, Interactive in October launched IBKR Lite, which offers unlimited, commission-free trades on … It's an option worth considering for traders who want the power of Interactive Brokers' trading platforms alongside a bit more personal support. NerdWallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. Disclaimer: ACM MEDIA LLC provides reviews of services based on our personal opinions. Last edited: Jun 16, 2020 #1 Jun 16, 2020. IBKR Lite accounts cannot access the TWS. (Bloomberg) -- Interactive Brokers announced IBKR Lite, a new offering that will provide commission-free, unlimited trades on … Press J to jump to the feed. 0.15 basis point * trade value; minimum $2; storage cost 0.10% per annum, 0.20 basis point * trade value if monthly volume<= $1,000,000,000; minimum $2, stocks, options, mutual funds, ETFs, bonds, futures, currency transactions, US SSFs, EFPs, metals, CFDs, warrants, futures options, $0 for cash account, $2,000 for margin account. ET. IBKR Lite: With IBKR Lite, there are no inactivity fees or data fees. Interactive Brokers (IBKR) is a US brokerage known for its competitive trading fees and commissions. • IBKR Pro: Accounts with less than $100,000 pay $10/month minus any trade commissions; accounts with less than $2,000 pay $20/month minus commissions. IBKR Lite offers unlimited $0 commissions on US-listed stocks and Exchange Traded Funds (ETFs) trades, with no account minimum required and no inactivity fees. IBKR Lite and IBKR Pro customers get access to Client Portal trading platform and powerful Trader Workstation platform. About You. Even though trading is free, traders still have full access to the financial markets just like those on IBKR Pro. No account maintenance fees are charged on IBKR Lite accounts or accounts with balances of at least $100,000 USD. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. Customer support options (includes website transparency). Interactive Brokers Canada is a particularly useful platform when it comes to the more professional traders. There is a break here for clients 25 or younger, who have a minimum monthly trade commission of just $3. About You. As noted above, Interactive brokers opens the door to investing on 135 exchanges in 33 countries, and lets clients fund and trade accounts in 23 currencies. For IBKR Pro customers, the various commission and fee structures can make it hard to quickly identify what your costs will be. To become eligible, return to the previous page and edit your application. It does not support a lot of account types. So how do we make money? Interactive Brokers provides access to a huge selection of research providers and news services, many for free, including Fundamentals Explorer, which offers fundamentals data from Thomson Reuters on over 30,000 companies, plus more than 5,500 analyst ratings, and reports and newswires from 82 companies. To become eligible, return to the previous page and edit your application. If you're interested in trading other investments, including options, futures, mutual funds, fixed income and more, you can do that on 135 exchanges in 33 countries with a Lite account, but the trading costs will be the same as what IBKR Pro investors pay. Only to discover it was a PRO account. Interest is automatically paid on qualifying cash balances. The retirement-investor set will be happy with the broker's impressive list of no-transaction-fee mutual funds — over 8,300 in all — and respectable selection of 96 commission-free ETFs (and Lite customers get to trade all U.S.-listed ETFs commission-free). There is just no simple way to do that. For either Fixed or Tiered schedule, max=1% of trade value. Read more, Kevin Voigt is a personal finance writer at NerdWallet. About You. On IBKR Lite, all these costs are completely taken off the table so that trading is free. In this review, we tested the fixed-rate plan. Trading platform: The casual traders who find IBKR Lite appealing will find the Client Portal platform adequate for their trading needs. There is nothing about IBKR's platform that is simple or intuitive. , offers its customers access to white-labeled versions of Trader Workstation. Our partners compensate us. • IBKR Lite: Unlimited commission-free trades on all available ETFs. Other tools include a volatility lab, advanced charting, heat maps of sector and stock symbol performance, paper trading and a mutual fund replicator, which helps users identify ETFs that replicate the performance of a selected mutual fund but offer lower fees. Rates can go even lower for truly high-volume traders. IBKR Pro customers get lower margin rates than Lite customers. This article includes links which we may receive compensation for if you click, at no cost to you. » Don't trade that much? Mobile app: The IBKR mobile app, available to both Lite and Pro customers, is Trader Workstation on the go, with advanced trading shortcuts, over 400 data columns, option exercise and spread templates, news, research, charting and scanners. If that's you, you'll probably like the broker's per-share pricing of $0.005 per share (the minimum is $1), advanced trading platform, unmatched range of tradable securities — including foreign stocks — and ridiculously low margin rates. Interactive Brokers is better for beginner investors than Robinhood. In this review, we tested the fixed-rate plan. Log In Sign Up. This is essentially Interactive Broker’s response to Robinhood, who offers a very similar broker service.If you are a “buy and hold”/long-term investor with only a few hundred bucks to your name, you could use IBKR Lite or … Investment selection: Interactive Brokers offers something for everyone here: Advanced traders will love the huge selection of products, from standard offerings of stocks, options and ETFs to precious metals, forex, warrants and futures. The Lite plan is not available to institutional clients, but the Pro schedule is. Interactive Brokers zero fee. The bottom line: Active and casual traders alike will benefit from Interactive Brokers' advanced execution, strong trading platforms and rock-bottom pricing. But even advanced traders who opt for IBKR Pro will like the low stock and ETF commission structure at Interactive Brokers, which favors frequent, high-volume traders at just $0.005 per share. Interactive Brokers has always been a great choice for active traders, especially those who can move into the broker's cheaper volume-pricing setup. On IBKR Lite, all these costs are completely taken off the table so that trading is free. The development is a complement to existing services that will be rebranded as IBKR Pro. IBKR reserves the right to reject any IBKR Lite order or series of orders if IBKR determines the order(s) appear to show non-retail trading behavior. Both subscription plans also come with all of the desktop program’s many widgets and tools, including free simulated trading on the platform. Here’s what the value proposition is like for investors, and read on for who should be hopping on the IBKR bandwagon. IBKR Lite offers its customers the same lineup of investments that IBKR Pro clients get: stocks, bonds, warrants, contracts for difference, forex, futures, options, options on futures, precious metals, global equities, ETFs, closed-end funds, penny stocks, OTC socks, and mutual funds. All rights are reserved. 2,334 Posts; 894 Likes; Now that you do have a PRO account you can contact their … The broker also offers tiered pricing to lower rates even more: Investors who trade more than 300,000 shares a month can pay $0.002 or less per share, depending on trade volume, although exchange and regulatory fees are extra on this plan. It's an option worth considering for traders who want the power of Interactive Brokers' trading platforms alongside a bit more personal support. Interactive Brokers Review 2021. This platform allows for commission-free trading on US-listed stocks and ETFs. To trade ETFs and stocks in Canada as of late 2019, US clients can only use the Client! 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