Interactive Forex Broker
| Name of the Company | Interactive Brokers Group, LLC |
|---|---|
| Established In | 1977 |
| Online since | 1998 |
| International Offices | Australia, Canada, Hong Kong, United Kingdom, United States |
| Payment Methods | Check, Wire Transfer |
| Demo Account and Platforms | Web Trader, FX Trader, Trader Work Station. |
| Account currencies | Australian dollar, Canadian dollar, Euro, Great Britain pound, Hong Kong dollar, Indian rupee, Japanese yen, Mexican peso, New Zealand dollar, Swedish krona, Swiss franc, United States dollar |
| Regulated or Registered By | CFTC/NFA, FSA (UK), SEC (US) |
| Are US Traders Allowed? | Yes |
| Languages in which website is available | Chinese, French. German, Japanese, Spanish |
| Languages in which support is available | Chinese, French. German, Japanese, Spanish |
| Different Support Methods | Email, Web Form, Phone and Live Chat |
| Types of Account (micro standard executive islamic) | Individual |
| Minimum Deposit in Accounts | $10,000 |
| Minimum position size | 0.25 lots |
| Type of Spread | Fixed |
| Minimum spread on EUR/USD, pips | 1.3 |
| Is Scalping Allowed | Not Allowed |
| Types of Trading instruments (GOLD; CFD, etc. and the leverage) | Forex- 1:40, Gold & Silver – 1:16, CFD – 1:10, Stocks – 1:4, Options, futures – 1:5, Bonds- 1:100, ETF- 1:100 |
| Real Trading platforms | FX Trader, Trader Work Station |
| Digits after the dot in quotes | 4 |
| Total Number of Currency Pairs | 92 |
| Is Free education Available | Yes |
| Any Segregated accounts | Yes |
| Do they have Managed accounts | Yes |
| Do they have Trailing stop | Yes |
| Do they have Pending orders | Yes |
| Is One-click trading option Available | Yes |
| Browser-based platform Present | Yes |
Interactive Forex Broker is one of the companies that are in the forex market from a long time and have been able to keep up the hopes of its customers. The company was established in the year 1977 and keeping pace with the changing time started its online trading service which is based on internet in the year 1998. They have their offices in UK, USA, Hong Kong and Australia and are regulated in United States by CFTC/NFA, in UK by FSA and by SEC in US. Being regulated by so many regulating authorities in different companies makes it all the more reliable. The payment options are limited and both the deposit as well as withdrawal can be made using check and wire transfers. They allow 12 different currencies in the account of the trader. They do allow traders from United States to trade from their account. Their website contains all the information that a trader may require in detail and is available in Chinese, Japanese, German, French and Spanish. The customer support service is also available in as many languages and is very responsive. The staffs are well trained to handle queries of any kind and are also very prompt and friendly.
The demo account offers three different types of trading platforms that is Web Trader, FX Trader and Trader Work Station. However, for real trading the platforms offered are only FX Trader and Trader Work Station. The trading instruments offered by the company are forex, Gold and Silver, CFD, stocks, Options, futures, bonds and ETF and the maximum leverage is 1:100 while the minimum leverage can be as low as 1:4. They offer 92 currency pairs to trade in and it includes all the major pairs. They do not allow scalping to their traders.
The reviews for the Interactive Forex Broker are very positive and are liked by most of the traders for its reliability factor. They offer a number of trading instruments to their clients and are liked by many traders who do not only want to trade forex. However, the leverage on each of them is very less and is a drawback. It being regulated in US and IK is also liked by many traders. They allow 12 currencies in the account of the traders and are liked by many traders. Their website and customer support service is multilingual and is of great help to the traders all over the world. The spread on the trade is fixed and this allows the trader to know the cost of their trade before placing the order and it help the trader maximize their profit. A few cons of trading from their account is that they offer only individual account and the minimum deposit required to open an account with them is as high as $10,000, also the payment options are very limited and cause some problem in transactions. However, the overall reviews are very positive and the average rating given to the company by its users is 5.8 out of 10.