Interactive Brokers Employee Reviews

5 stars based on 36 reviews

Last month I blogged about opening up a new Interactive Brokers account to invest in stocks. Then follow the online instructions. Sometimes Interactive Brokers may need to verify your identity before you can start using its service. This happened to me. Choose the correct institution and your account number that the portfolio will be transferred from. If both instructions are not entered around the same time then TD will reject the transfer instructions because the pair of accounts must move together.

Transferring funds from TD to Interactive Brokers will take about 1 week. Getting money out from your IB account is more straightforward. Interactive Brokers allows traders to buy stocks on margin. This means you can borrow money to buy stocks using your existing holdings as collateral. This section will be specific to using margin with IB. If this number is too low then traders will risk getting a margin call. The actual calculations for the maintenance margin requirement depends on a number of different factors.

Logging into my IB account, I can see the following basic information about my account. This represents my net present value total assets — total liabilities. This basically shows how much immediate cash I have to trade or withdraw from IB. Since debt is fungible, margin accounts allow investors to do much more than simply buy stocks with borrowed money. This is the essentially the same as having an open line of credit at 1. This is very unlikely to happen over the course of days or even weeks.

Fortis also has a strong track record of dividend payment. It has increased dividends every year for the past 42 consecutive years, longer than any other Canadian public corporation. Simply choose the stock symbol. Select whether you want to buy or sell.

Choose the quantity of stocks to trade. This means the order can only be executed at this price or lower. Yes, I transferred over all my debt. I hope the same is true for IB.

I read on internet that their customer service is really bad and sometime it takes weeks or even months to get answers. Although they did call me once asking me to send a second set of instructions to TD so they can transfer both my US and Canadian margin accounts over. With Interactive Brokers both accounts are kind of combined so you have one margin balance. Biggest downfall I think will be the margin interest, 4. Still better than 6. Oh well, next year maybe. And this is the case for each account you have open.

You are not forced to subscribe to any research. You can choose to unsubscribe to any material to save fees. Thank you for the detailed information about IB. I am looking to move portion of my investing along with margin loans to IB in order to reduce margin interest rate. His review of IB is a must-read for anyone looking to make the switch to the low-cost […]. The total cost came to […].

Thank you, this is very useful. Could you please explain the FX and your experience with it in IB? IB lists different stocks in their respective currencies.

You can trade currencies back and forth easily by selling one and buying another. If you want to pay down this debt in the future, simply deposit money into your IB account and convert it to USD if necessary.

Part of this purchase was financed from a margin loan at 2. Borrowing money at low interest rates to invest in long term appreciating assets was how many […]. This site has been a great resource, answering a lot of questions. I am looking at opening an IB account, moving my Questrade, and just wanted to confirm a couple of things.

I lied, another question: My current plan is to open an IB non-registered margin account and transfer most of my Questrade, leaving one position in Questrade since I sold a covered call on it ending in Jan So far so good, couple minor hiccups but account was set up next day after answering the questions. Minor delay with funding as transfer of positions from Questrade was delayed due to incomplete account number my fault really.

Most places in Questrade show an 8 digit account number, you actually need the full 10, including the part after the hyphen. Encountered another issue trying to do an options trade, turns out I was in pending approval for permissions for options. We shall see in a couple of days.

Overall process was fairly quick and easy, much less painful than Questrade, where at least a couple of accounts took more than a month due to issues with paperwork. Hey Liquid, Thank you for the detailed information about IB. Weekly Linkfest 11 - Financial Uproar.

How to invest in the United Kingdom - List of popular stock index funds. How to Invest with Leverage and Probability Theory. Nov Fiscal Update www. Reducing my Shares in Canopy Growth.

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Written by Jin Won Choi on Aug. Last update on July 27, Man using trading terminal from Shutterstock. Unfortunately, answering this question can be complicated because each broker has his or her own unique way of charging fees.

This means that different brokers will cost more depending on how the individual uses the account. In particular, I will look into three popular Canadian brokers - Questrade , Interactive Brokers , and Virtual Brokers - to see which one of the three would end up being the least expensive, taking earnings into consideration. Before we go on, I must disclose that I receive affiliate income from Questrade. The following list spells out the exact assumptions I used in my analysis.

Note that Virtual Brokers has different commissions structures, so I chose to use the "Classic" commission structure for comparison. Out of the three brokers, trading stocks cost the most with Virtual Brokers.

This wasn't the case up until recently, when they used to charge just 1 cent per share for each trade. However, they have since changed commission structures to court more active traders. Questrade's trading costs are half that of Virtual Brokers. That means a trade would only cost 1 cent per share if you buy between and shares.

The biggest drawback of Interactive Brokers is their inactivity fee. If you pay less than 10 USD in trading fees each month, they will charge the remainder as an inactivity fee. Furthermore, they will charge this amount per account. Lastly, whereas it costs nothing to register an RSP account with either Questrade or Interactive Brokers, it can cost substantially more if you want to hold U.

While an RSP account that can only hold Canadian dollar investments costs nothing, an account that can hold U. Under Virtual Broker's old commission structure, determining which broker was cheapest wasn't so straightforward. But with the commissions changes, I believe Questrade is currently the cheapest out of all the major discount brokerage firms that offer registered accounts.

Broker Interactive Questrade Virtual. If you enjoyed this article, you might be interested in our free newsletter. Enter your email to get free updates. Choi is the founder of MoneyGeek.

He has a PhD in financial mathematics, and he worked at a top performing fund for 2 years. Virtual Brokers Questrade vs. This article has been updated to reflect prices as of July 27, Has 2 registered savings accounts RSPs. This fits the description of someone who makes a monthly contribution to buy one ETF a month.

I will also assume that each trade i. Will purchase stocks 4 times a year and sell stocks once a year. I will also assume that each trade consists of shares. A Canadian who wants to buy U. Which One Should You Choose? Broker Interactive Questrade Virtual Short url: Choi's commentary on current financial events All this is available for free. Join others and subscribe using the box below.