Interactive Brokers: Reputable Forex Broker
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Interactive Brokers offers rock-bottom share prices that facilitate the investment practices of experienced Forex traders.
Pros
- $0 account minimums
- 17,000+ fee-free mutual funds
- BTC, BCH, LTC, and ETH trading
- Minimal crypto commission
- Phone, email, and live chat support
- Unique investment categorization
Cons
- Website UI has learning curve
- Mobile app is just average
- Forex Market Variety: 4/5
- Experienced retail investors can buy, sell, or trade across 17,000+ fee-free mutual funds.
These mutual funds aren’t attached to any commission fees whatsoever, so you’ll get to keep 100% of your profits.
In addition to BTC, Bitcoin Cash, Litecoin, and Ethereum; you’ll have thousands more stocks, options, ETFs, futures, corporate bonds, and fractional shares at your fingertips.
Although Interactive Brokers’ website and mobile apps can take some time to adjust to; we were impressed by their site’s unique investment categorizations.
Experienced retail investors can get a clear picture of where each company lies in accordance with their stance on LGBTQ+ rights, ocean life conservation, and more.
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Commissions & Pricing: 4.5/5
If you’d like to register an account and explore Interactive Brokers’ platform on your own; you won’t have to deposit any money to do so. Advanced traders can revel in share prices that range from $0.005 to $1, with a maximum price listed at 1% of each transaction’s value.
Their 100% commission-free mutual funds aren’t attached to any sneaky charges; and crypto traders can enjoy a nominal rate of 0.12 - 0.18% in fees per transaction.
To withdraw your cash, you’ll need to pay a minimal $10 surcharge for bank wire transfers.
Customer Support: 4.6/5
Retail investors can get in touch with Interactive Brokers 24 hours a day/6 days a week via phone call, live chat, or email contact options.
While IB doesn’t have any physical branches in the United States; we think their customer support team is more than capable of handling pressing issues on a virtual basis.
Even barebones-empty accounts remain eligible to ask for trading advice and assistance; so feel free to reach out with any questions.