Full HBC Broker Review 2020

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Contents

Complaint And Reviews About HBC Broker

I started work with HBC Broker ( http://www.hbcbroker.com/Home ). I made inital payment $250, but main broker, Valeryi Panteleev, stubbornly insisted for that i put there $5000 on deposit for make deal on Apple Stocks, after they stopped connect with me. We communicated by Skype, but now i have not any news from they.

I would want check this company on fraud and finally know is it real company or not?

Choosing A Reliable Broker

Broker Bonus Min Deposit Payout Review Open Account
Up to 100% deposit $10 Up to 90% Review Visit Broker
$10 Up to 91% * Review Visit Broker
10 USD Review Visit Broker

I got conned by HBC Broker via their scam “The Aussie Method”.
I fell for the aussie method video and deposited US$250.
It turned out I had deposited with HBC Broker without my knowing it.
Then I was contacted by a senior analyst Ian Wolffe who immediately started to try to get me to increase the amount of my investment.
I told him to show me some growth of the 250.
That happened over a few days and he made very convincing arguments why I should invest with HBC broker.
I then deposited $5000US.
This continued to grow and I noticed that an additional $3000 had been deposited.
When I asked him what that was he told me it was a bonus. I asked what for. He was evasive on the question and just said some bull that HBC Broker wanted me to succeed and was willing to help me. I couldn’t understand. By this time my account was at around $11,000US. This is after only a couple of weeks. I was suspicious.
I did some research on the bonus thing and found out second hand that it is a scam to lock you into their system and with terms and conditions that you have to earn a fortune before you can make any withdrawal. I couldn’t find the terms and conditions on their web site at the time, in fact going to their web site to search for any information was ineffective on any topic. They don’t want you to know.

DO NOT INVEST WITH HBC BROKER. THEY ARE SCAM ARTISTS.

DO YOUR HOMEWORK. DON’T TRUST ANYONE WITH YOUR MONEY UNLESS YOU HAVE RESEARCHED AND RESEARCHED SOME MORE. ONCE YOU HAVE DONE THIS YOU WILL PROBABLY NOT BOTHER WITH THE INVESTMENT.

I have similar problem but they gave me credit od 4500 and I have put mine 500. Before i took credit I asked if I can oay for that credit from money earned as I can’t afford this kind of money from my wallet. They said yes but then after I agreed and week past they told me that I need to pay them that 4500 and then I can withdraw any money.
I don’t know what should I do but I want to ask you if they will take me to court are you willing to go with me and stand by my side? Maybe we can stop this bullshit together. Contact me at [email protected]

Which broker is the best forex broker?

BRKV – When I say the best forex ECN brokers, I actually mean the ECN accounts of those brokers. People are so used to the term ‘ECN brokers’ that I will use it from now on. The best forex brokers have different types of accounts that suit different levels of forex traders. The regular accounts are for beginners and experienced traders while ECN accounts are for experienced traders or experts only. So you should only trade ECN account when you think you’re experienced enough in the forex market.

Why is ECN account is for experienced ones only? Because ECN account is highly fluctuated, has high slippages and unstable quotes. Only traders with experience can deal with these trading conditions. The only advantage of ECN account is that it has very low trading cost and you get to trade in the real market. Sometimes the spread can be as low as zero, so experts want to take advantage of this to make more money. Here are the best ECN brokers in my opinion:

  1. Exness.com: 9/10
  2. HotForex.com: 8/10
  3. FXTM.com: 7.5/10
  4. FBS.com: 6.5/10
  5. FxPro.com: 6/10

What is ECN broker?

ECN stands for Electronic Communication Network. The mission of this network is to help the orders of all customers interact with each other. It is like a common platform including banks, bookmakers and traders sending orders in. The best bid/ask price in the ECN system will be offered to traders who want to trade the market at that price. The price is offered by a certain provider (bank, banker) in the system.

So what makes a good ECN broker? Let’s walk through the features of an ECN account again. ECN account has high slippage and unstable quote. Also, it has commission because brokers have to charge commission for it since they don’t make anything from spreads. Therefore, to be among the best, ECN brokers must meet these standards:

Trustworthy Trading costs Trading conditions Local services
Regulations Low commission Good quotes Payment system
Historical activities Low slippages Trading platforms Local offices

Let me explain why these standards are important for ECN brokers.

The best ECN brokers 2020 must be reliable brokers

Because ECN traders often deal with large amount of money, a broker’s trustworthy is without a doubt the most important criteria since you can only deposit thousands of dollars to someone you can trust.

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How to know which broker is reliable?

The answer is actually very simple. It’s the regulation and that broker’s historical activities . A broker’s validity is based on whether they have a regulation or not, and the regulation itself must be confirmed its validity as well as coming from one of the more trusted agencies such as FCA, CySEC, NFA… Regulations are provided by the financial organizations whose purpose is to safeguard the general public, which consequently makes obtaining a regulation become a challenging and difficult mission for forex brokers. A regulation would limit a broker in a lot of aspects in exchange for the security as well as their services. To name a few limitations that a broker would have to deal with, there are:

  • Limits of maximum Leverage.
  • Limits of quotes quality.
  • Minimum operation fund limit.
  • Limited Bonus.
  • Segregated accounts to protect clients.
  • Limit advertising messages to avoid misleading for traders.

As for us traders, doing business with a broker that has one or two trusted regulations always feel more comfortable and safer than doing business with brokers that have none. Although for trusted brokers, their trading fees might cost a little bit more in exchange for the better service and security.

This is due to the fact that the aforementioned organizations charge their brokers a large amount of fee in exchange for their service as well as reputation, so in order for brokers that have regulations to make a profit, they’d have to charge their customers more by making their margin requirements higher or charging higher spread and commission and so on. Moreover, the most reliable forex brokers are also the largest forex brokers.

My professional opinion about licenses

I think we can all agree that a regulation should always be healthy for any broker. It shows that the broker cares enough to put up with the downside of a regulation to provide their customers overall better service and safety. However, one regulation in my opinion should be more than enough most of the times. Owning two or more regulations would indirectly put a lot more costs on their customers by making them pay more to cover for the regulation fees.

What regulations do these brokers have?

Brokers Regulations
Exness.com CySEC, FCA Learn more
Hotforex.com CySEC , FSCA , FSC Learn more
FXTM.com IFSC Learn more

The best ECN brokers 2020 charge lowest trading cost

What is the trading cost of the best ECN brokers?

When you trade with the best ECN brokers, you don’t have to worry about their spread. ECN brokers have very tight spread since they work with many liquidity providers, and sometimes, their spreads can be zero. Well, then you only have to pay attention to the commission. Due to the low spread rate, brokers have to charge commission for ECN accounts as their main income. And I know the brokers from my list charge the least. Here are the commission rate of my best ECN brokers:

You can see that FXTM’s commission rate is lower than that of Exness, but I still rank it last because Exness’ spread is way lower than FXTM’s rate for ECN accounts.

The best ECN brokers must have good trading platforms

A good ECN broker must have a good trading platform. The best trading platforms are the ones that have fast servers, can close and open orders instantly. Since ECN is not very stable, the spreads, and quotes will change in seconds. That’s why you need a good trading platform. All three brokers I mentioned have great trading platforms. I hardly encounter any errors when trading with them.

The best ECN brokers 2020 support better

Needless to say, customer service is one of the most important when doing business since business is all about people, trust and profit. Not to mention that the whole forex trading market is a rather vast and complicated place that the beginners/new traders sometimes find themselves lost. They are almost always in need of professional help as well as advices on how to make money safely. The aforementioned brokers all have excellent customer service including 24/7 and multiple language support. Most of them have their own branches in China, Thailand, Indonesia, Malaysia, and Dubai… For countries that don’t have regional offices, they offer support online as well as via phone in English or your native language. The language support is very crucial to traders who want to work with ECN brokers in South Africa or Asia because those traders may not be very good at English. Here is the ECN brokers list of those who can help you in different languages.

  • Exness supports 13 languages and 24/7.
  • HotForex supports 9 languages in business time.
  • FXTM supports 8 languages and 24/5.

Moreover, you can check out here (they’re completely different)

Efficient payment system

BRKV – While this might not be that big of a deal for US and UK traders since most of the brokers there have relatively good payment system. As for Asia and Africa, however, most of the brokers’ payment system are quite bad and in need of a lot of work. I myself am from an Asian country and the banks here would charge 1.7 to 4% alone just for depositing in my Credit Card, which just makes no sense since it’s already hard for us traders to earn even 5% monthly. Therefore, I think that it’s very important for you to choose an ECN broker that offer local payment system or just overall excellent payment system.

As for my professional opinion on which broker should you choose based on their payment system, I personally find Exness to be the best in this area. Exness offers over 30 different payment methods as well as free of charge local payment support. Furthermore, Exness offers their own fully automatic transfer/withdrawal system which I find a lot more efficient as well as advanced compared to the other brokers. While it might take you hours or even days to transfer/withdraw money in other brokers, the transfer/withdraw time in Exness is instant. With Exness instant transfer/withdrawal time, I can do my own ECN trading more efficiently and make more money this way. Lastly, Exness is the only forex broker up-to-date allowing deposit and withdrawal on weekends.

Why is Exness Payment system so fast?

Exness payment system is truly a step ahead of every other brokers. It’s fully automatic, all the works are done by the machine. Exness payment system is programmed to compare your transfer/withdrawal information with your personal ID to ensure that each transaction is always secured. Check Exness Payment system here.

Who are the best ECN brokers?

  1. Exness.com: 9/10
  2. HotForex.com: 8/10
  3. FXTM.com: 7.5/10
  4. FBS.com: 6.5/10
  5. FxPro.com: 6/10

The advantages of the best ECN brokers

Very low spreads

The spread is zero or very low, which makes ECN the perfect place for you to play Scalping (surfing). Will help players enter and close orders quickly without slipping too much, especially when the market fluctuates, the price fluctuates continuously.

Rates listed by the market

This is somewhat different from the market maker (house), which helps the brokers not to conflict with customers’ interests, so it is not possible to trade in reverse with customers nor to spread the spread for traders.

Quick order execution, no requote

Orders are pushed directly into the market where there is the participation of banks, large and small funds so orders often match very quickly, with low latency. Typically, at ICMarkets, the average execution time is less than 40 ms for Forex and Metals (ECN products). Especially, because ECN is not a form of order-holding brokers, even when the market fluctuates sharply, traders will not be required.

No slippages with ECN accounts

Do you know what slippage is in forex trading? Slippage happens when you enter the price for a trade but while waiting for the platform to execute your order, the price has changed because of the market. The gap between the new price and your initial price is called slippage. Traders hate slippage, even though it is a totally normal thing in forex trading. The only way to avoid slippage is choosing a broker that has excellent execution speed. If it can processes your orders quickly, slippage cannot happen. ECN accounts often has the best execution speed and Exness has the best ECN account.

Check out Exness ECN account now.

Differences between ECN brokers and regular brokers?

As mentioned before, ECN was originally a market that pushed orders to the market, so it was impossible to interfere with these orders, or to spread spreads to profit from traders, mainly from commission fees. So, many current brokers often advertise they have ECN-type accounts, but actually not. Therefore, to identify a real ECN broker you can base on the following conditions:

  • Fast execution of orders.
  • The price is closest to the market.
  • The spread fee is zero, and the commission is low.

Display Depth of Market (DOM) is a table showing buy and sell orders from participants at different prices and market volumes. This is one of the important points to evaluate the ECN brokers. In fact, only ECN brokers have DOM. Market Makers do not.

What level of experience is suitable for ECN account?

For traders who follow the style of a Scalping Trader, perhaps creating an ECM account to trade is perfectly correct, because the Spread of ECN accounts is very small, even close to 0 pips on some forex pairs, which Scalping Traders usually place and exit orders very frequently and continuously, so they will save a decent amount from Spread fees.

Actually, the fee from Spread (Bid / Ask difference) may not be much, but in the long run it will also be a significant number. Moreover, with fast order execution, leading to high liquidity, and most importantly, No Dealing Desk, it is understandable that more and more traders are dealing with ECN system.

What you should know when trading ECN

The biggest disadvantage of ECN is the minimum deposit to deposit, and the leverage is quite modest. The minimum deposit is normally from $300 and up and the leverage is usually only 1:200 or the highest is 1:500. In fact, this is easy to understand, because ECN brokers push orders directly to the market and only “live” because of commission fees, so the minimum capital is too little will not be enough to trade in a standard lot, the broker will be difficult to survive.

In addition, your order is decided from the market, the broker cannot directly intervene, and must comply with strict regulations from financially rigid institutions such as FCA. As a result, the rights of traders are guaranteed not to be priced or deliberately spread spreads to cut losses or account. If you are an experienced investor, especially, if you want to trade straight into the interbank market where there is high liquidity, consider trading at ECNs instead of choosing other types of broker.

Which one should we choose, dealing desk or non-dealing desk?

It’s hard to judge which one is better. It’s up to your trading strategies. People tend to think that Dealing desk will trade against traders while Non-dealing desk brokers are the opposite. That’s not true at all. When it comes to big Dealing desk brokers, they let the system operate automatically. So, in terms of large scale, Dealing desk and Non-dealing desk brokers are not much of a difference. Choosing the best ECN brokers is like choosing the best brokers after all.

Warrior Trading Blog

Summary

Rithmic is a top-of-the-line futures trading platform. With order routing your execution will be as fast as your data feed. This platform is directed towards people who understand the futures market and are technical-proficient. Customer support will not help you if you have never traded before. Rithmic clients include 20% of the daily futures market.

Rithmic is one of the most advanced futures trading platforms available on the market today.

Focusing on day trading strategies, Rithmic offers users all the essential functionality for staying ahead of fast-moving markets: robust analytics, depth of market, advanced order types and more.

The combination of low price and high quality makes Rithmic an easy contender for the top spot in terms of futures trading platforms.

Fees and Commissions

• Platform fee: free or $20 per month for advanced platform.

• $0.50 per contract commission.

• Designed by knowledgeable and passionate technicians. A futures trading platform designed by people who intimately understand the futures market.

• Low price of subscription and commissions.

• Full essential functionality.

• Fastest order-routing and data feeds available.

• Focused on futures trading only.

• No support for beginners.

Rithmic Services

Rithmic is a very focused trading platform designed specifically for advanced futures traders, day traders making short term trades in particular.

As such, Rithmic offers an impressive range of technical services, including analytics, lightning fast and extremely accurate data feeds, options expiry data, top quality order routing, excel functionality and more.

Day traders will not be able to find a more comprehensive suite of tools designed specifically for their futures trading needs.

That said, for anyone who is not an advanced futures trader, Rithmic will be intimidating and overwhelming, with little in the way of guidance or education materials available.

This is not a criticism of Rithmic, but it is important to establish that this is a very focused suite of futures trading tools meant only for very advanced and experienced traders.

Data Flow and Order Execution

Rithmic’s main draw for advanced futures traders is its fast order routing. Day traders trading on the order book will be pleased to see their order execution and their data feed line up almost perfectly, which cannot be said of many other service providers.

Rithmic’s order execution system handles around 20% of the daily traffic on major futures exchanges, and clients from hedge funds to retail investors rely on them for timely data feeds and order execution.

Analytics and Order Types

Rithmic offers strong flexibility in designing the interface to suit your personal needs, as well as a full range of order types for creating sophisticated trading positions that execute at lightning speed.

Advanced day traders will find that they have every necessary tool for undertaking virtually any contemporary trading strategy.

Excel Functionality, Proprietary Signals and Automated Trading

As with any advanced trading platform, Rithmic allows users to develop their own trading signals and automated trading execution, using Excel as an interface.

Day traders can use Rithmic’s Excel functionality to design complex proprietary trading signals that will operate in the trading platform. Extending this functionality, traders can also create automated trading strategies that will execute flawlessly using the Rithmic market interface.

Hardware and Redundancies

Rithmic has taken great precautions to ensure that its access to the markets and full functionality will be operational under any circumstances.

Both its hardware and its connectivity to exchanges are backed up by layers of redundancies, ensuring no unexpected outages for market access, real-time data and order execution.

Customer Service

Rithmic offers limited customer service aimed generally at ensuring the proper installation of its platform.

Users of Rithmic are expected to be comfortable with the full range of advanced functionality, and there is little support available for new traders or day traders who are not technically proficient.

Education Resources and Research

As Rithmic aims its services at advanced and experienced traders, it offers little in the way of educational resources or research for its customers. In the age of booming retail trading, it has become almost an expectation that trading platforms will provide a wealth of supporting resources, research and social and community platforms.

Rithmic is a highly technical platform that provides little to no support for traders who are not already at the advanced stages of futures trading of most of its customers.

Final Thoughts

Simply put, for advanced futures traders looking for the highest quality and reliability in data feeds and order execution, Rithmic may be the best on the market today.

Add in the cutting-edge analytical tools, automation features and low price, and Rithmic is probably the perfect platform for the very specific range of day traders that it is designed for, from retail to institutional.

However, for the average day trader Rithmic is focused on futures to the exception of all other assets, highly technical and advanced and offers a huge range of features that they may never use.

That said, the one feature that may still draw the average day trader to use the Rithmic platform is the industry-beating data flow and trade execution.

For an extremely low price, day traders can ensure that their futures orders are being executed flawlessly using the absolute latest and most accurate data available on the market.

For any day trader who trades even occasionally in the extremely lucrative and competitive futures markets, it may be worth routing their order through Rithmic’s market interface.

The combination of top of the industry data and execution with the lowest possible prices means that there are few better places to trade futures, and it can be worth the added hassle and complication of using an additional platform solely for futures trades.

However, this decision will depend on how committed the day trader is to the performance of their futures trades, while many will be happier to simply use their existing full service broker and avoid added complications.

Any day trader who wishes to learn to focus on the futures market should become accustomed to using Rithmic or similar platforms, as they are essential to staying competitive.

While Rithmic itself offers little in the way of resources for education and training, day traders can find other resources on the Internet for free or as paid services and products.

Then they can gradually learn to fully employ the complex interface of Rithmic to maximize the benefits to futures trading that it offers.

From time to time we refer third-party products or services to you. We may receive compensation from those third parties whose products or services we refer, however, our reviews and recommendations are independent of any compensation we may receive. There is no obligation for you to interact or transact with these third parties.

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Testimonials

Before I started trading, I would make $1000 in 2 weeks. Now after taking the warrior trading course, I can make that in a single day, at 26, I now own my own house and I am fully independent, thank you warrior trading for everything you have done for me, my future looks brighter than ever!

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After 3 years of trading as a student my portfolio has net more than $230k. For year 2020, in less than 6 months I’ve net more than 140k. With Warrior Trading’s mentorship and my investment knowledge prior to coming on-board, I developed my own short term swing trading strategy.

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On January 24th 2020 I started with $690 in my account. In March I made $4,433.89 and by April, my account was up 1,000%. I’d made $6,900 in 42 trading days.

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I think trading is the only place in life where I can say I am totally responsible for my outcomes. That’s huge in a world where previously waiting on someone else to make decisions about my income felt like a prison. I now have full autonomy.

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If you do not agree with any term of provision of our Terms and Conditions you should not use our Site, Services, Content or Information. Please be advised that your continued use of the Site, Services, Content, or Information provided shall indicate your consent and agreement to our Terms and Conditions.

Warrior Trading may publish testimonials or descriptions of past performance but these results are NOT typical, are not indicative of future results or performance, and are not intended to be a representation, warranty or guarantee that similar results will be obtained by you.

Ross Cameron’s experience with trading is not typical, nor is the experience of students featured in testimonials. They are experienced traders. Becoming an experienced trader takes hard work, dedication and a significant amount of time.

Your results may differ materially from those expressed or utilized by Warrior Trading due to a number of factors. We do not track the typical results of our current or past students. As a provider of educational courses, we do not have access to the personal trading accounts or brokerage statements of our customers.

Available research data suggests that most day traders are NOT profitable.

In a research paper published in 2020 titled “Do Day Traders Rationally Learn About Their Ability?”, professors from the University of California studied 3.7 billion trades from the Taiwan Stock Exchange between 1992-2006 and found that only 9.81% of day trading volume was generated by predictably profitable traders and that these predictably profitable traders constitute less than 3% of all day traders on an average day.

In a 2005 article published in the Journal of Applied Finance titled “The Profitability of Active Stock Traders” professors at the University of Oxford and the University College Dublin found that out of 1,146 brokerage accounts day trading the U.S. markets between March 8, 2000 and June 13, 2000, only 50% were profitable with an average net profit of $16,619.

In a 2003 article published in the Financial Analysts Journal titled “The Profitability of Day Traders”, professors at the University of Texas found that out of 334 brokerage accounts day trading the U.S. markets between February 1998 and October 1999, only 35% were profitable and only 14% generated profits in excess of than $10,000.

The range of results in these three studies exemplify the challenge of determining a definitive success rate for day traders. At a minimum, these studies indicate at least 50% of aspiring day traders will not be profitable. This reiterates that consistently making money trading stocks is not easy. Day Trading is a high risk activity and can result in the loss of your entire investment. Any trade or investment is at your own risk.

Any and all information discussed is for educational and informational purposes only and should not be considered tax, legal or investment advice. A referral to a stock or commodity is not an indication to buy or sell that stock or commodity.

This does not represent our full Disclaimer. Please read our complete disclaimer.

Citations for Disclaimer

Barber, Brad & Lee, Yong-Ill & Liu, Yu-Jane & Odean, Terrance. (2020). Do Day Traders Rationally Learn About Their Ability?. SSRN Electronic Journal. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2535636

Garvey, Ryan and Murphy, Anthony, The Profitability of Active Stock Traders. Journal of Applied Finance , Vol. 15, No. 2, Fall/Winter 2005. Available at SSRN: https://ssrn.com/abstract=908615

Douglas J. Jordan & J. David Diltz (2003) The Profitability of Day Traders, Financial Analysts Journal, 59:6, 85-94, DOI: https://www.tandfonline.com/doi/abs/10.2469/faj.v59.n6.2578

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Interactive Brokers Review 2020: Pros, Cons and How It Compares

Interactive Brokers attracts active traders with low per-share pricing, an advanced trading platform, a large selection of tradable securities — including foreign stocks — and ridiculously low margin rates. Its new offering, IBKR Lite, offers commission-free trades of stocks and ETFs.

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

Our Take

The bottom line: Active and casual traders alike will benefit from Interactive Brokers’ advanced execution, strong trading platforms and rock-bottom pricing.

Best Broker for Low-Cost Investing, Best Broker for Stock Trading Platform and Research

on Interactive Brokers’s website

Interactive Brokers IBKR Lite

on Interactive Brokers’s website

Account Minimum
Promotion

No promotion available at this time

Pros & Cons

Large investment selection.

Strong research and tools.

Over 4,300 no-transaction-fee mutual funds.

NerdWallet users who sign up for IBKR Pro get a 0.25 percentage point discount on margin rates.

Website is difficult to navigate.

Inactivity fees on IBKR Pro.

Compare to Similar Brokers

Account Minimum
Account Minimum
Promotion

No promotion available at this time

Promotion

minimum trade cost

Best Online Brokers

Full Review

Interactive Brokers has long been a popular broker for advanced traders, but in 2020 the company launched a second tier of service — IBKR Lite — for more casual investors.

With IBKR Lite, you get unlimited free trades of stocks and exchange-traded funds that are listed on U.S. exchanges. If you’re interested in trading other investments, including options, futures, mutual funds, fixed income and more, you can do that on 125 markets in 31 countries with a Lite account, but the trading costs will be the same as what IBKR Pro investors pay.

As the name implies, IBKR Pro is geared toward advanced traders. 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.

Both tiers of service have a $0 account minimum and offer fractional shares of stock. IBKR Lite has no account maintenance or inactivity fees. IBKR Pro charges an inactivity fee, though it’s possible to skirt that if you trade relatively frequently.

Interactive Brokers is best for:

Casual and advanced traders.

Research and data.

Interactive Brokers at a glance

Stock trading costs

• IBKR Lite: Unlimited free trades on U.S.-listed stocks and ETFs.

• IBKR Pro: $0.005 per share; minimum $1 and maximum 1% of trade value; volume discount available.

IBKR Lite and IBKR Pro: No base commission; 65 cents per contract with $1 minimum. Volume discount available.

Account fees (annual, transfer, closing, inactivity)

• IBKR Pro: $10/month commission minimum for accounts with $100,000 or less, and a $20/month commission minimum for accounts with $2,000 or less.

Number of commission-free ETFs

• IBKR Lite: Unlimited commission-free trades on all available ETFs.

• IBKR Pro: 98 commission-free ETFs.

Number of no-transaction-fee mutual funds

Over 4,300 no-transaction-fee mutual funds.

• Stocks. • Bonds. • Mutual funds. • ETFs. • Options. • Futures. • Forex. • Metals.

IBKR Lite and IBKR Pro customers get access to Client Portal trading platform and powerful Trader Workstation platform.

Advanced features mimic the desktop app.

Research and data

Extensive research offerings, both free and subscription-based.

Customer support options (includes website transparency)

24-hour phone, email and chat support, available six days a week.

NerdWallet users who sign up for IBKR Pro get a 0.25 percentage point discount on margin rates.

$1,000 worth of commission credits for 1 million new customers who participate in IBKR’s simulated sports betting exchange.

Where Interactive Brokers shines

Low commissions: If you’re a casual investor, it’s hard to beat the free trades you’ll enjoy with IBKR Lite. 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. There’s a $1 minimum trade commission and a maximum of 1% of the total trade value, and exchange and regulatory fees are included. 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. Rates can go even lower for truly high-volume traders.

Options trading , too, is offered at competitive pricing, for both Pro and Lite customers, with a 65 cent charge per contract and no base, plus discounts for larger volumes. The minimum options trade commission is $1 per order.

Margin rates: Margin traders will also benefit from the low rates at Interactive Brokers. For IBKR Pro customers, the maximum margin rate is the benchmark rate plus 1.5% — and NerdWallet users get an extra 0.25 percentage point discount. For IBKR Lite, it’s the benchmark rate plus 2.5%. Those rates apply on balances up to $100,000; the rates drop at higher balances. The broker charges a blended rate based on the size of the margin loan, and has a calculator on its website to help investors quickly do the math based on their balance.

Interactive Brokers also offers an integrated cash management feature, which allows investors to borrow against their accounts with a debit Mastercard, also at low interest rates.

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. That, in turn, makes it easier to maintain a diversified portfolio, especially for investors with smaller accounts. For example, rather than paying more than $260 for one share of Apple, you can divvy up that money among different companies.

Trading platform: The casual traders who find IBKR Lite appealing will find the Client Portal platform adequate for their trading needs. 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. (Until recently, only IBKR Pro traders had access to the advanced platform.)

The platform is fast and includes standard features such as real-time monitoring, alerts, watchlists and a customizable account dashboard. An options strategy lab lets you create and submit both simple and complex multileg options orders and compare up to five options strategies at one time.

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. InteractiveBroker’s For You notifications offer customized alerts about events that could affect a trader’s investments.

Worth noting: Another broker we review, Zacks Trade , offers its customers access to white-labeled versions of Trader Workstation. Zacks Trade charges higher trade commissions, but offers clients free calls with support reps, who are licensed brokers. It’s an option worth considering for traders who want the power of Interactive Brokers’ trading platforms alongside a bit more personal support.

Mobile app: The IBKR mobile app, available to both Lite and Pro customers, is Trader Workstation on the go, with advanced trading shortcuts, over 50 data columns, option exercise and spread templates, news, research, charting and scanners. Users can create order presets, which prefill order tickets for fast entry. Presets set up on Trader Workstation are also available from the mobile app.

Research: 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. Other research providers available to all clients include Zacks Investment Research, Morningstar Equity Ownership, Market Realist, 24/7 Wall Street and Seeking Alpha. Over 100 additional providers are also available by subscription.

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 retirement-investor set will be happy with the broker’s impressive list of no-transaction-fee mutual funds — over 4,300 in all — and respectable selection of 98 commission-free ETFs (and Lite customers get to trade all U.S.-listed ETFs commission-free).

Interactive Brokers also has a robo-advisor offering, which charges management fees ranging from 0.08% to 1.5%. The service offers about 70 portfolio options, and 41 of those portfolios require just $1,000 to get started. (The management fees and account minimums vary by portfolio.)

Where Interactive Brokers falls short

Interactive Brokers’ shortcomings are primarily due to the company’s focus on advanced traders:

Inactivity fees: Interactive Brokers caters to active traders, and that focus shows up in its inactivity fees for IBKR Pro customers. Accounts with balances of $100,000 or less must meet a minimum of $10 a month in trade commissions, or Interactive Brokers will charge the difference as a monthly fee. Accounts with an equity balance of $2,000 or less must meet minimum trade commissions of $20. IBKR Lite doesn’t charge inactivity fees.

There is a break here for clients 25 or younger, who have a minimum monthly trade commission of just $3.

» Don’t trade that much? View our best online brokers roundup

Website ease-of-use. Interactive Brokers provides a great deal of information on its website, but finding and interpreting the information you want isn’t always easy. For IBKR Pro customers, the various commission and fee structures can make it hard to quickly identify what your costs will be. Portions of the website are dedicated to institutional, broker and proprietary trading accounts, and that can be confusing.

Is Interactive Brokers right for you?

Interactive Brokers has always been a great choice for active traders, especially those who can move into the broker’s cheaper volume-pricing setup. Now, with the availability of free trades with IBKR Lite, even casual traders might find Interactive Brokers a strong contender. But beginner investors might prefer a broker that offers a bit more hand-holding and educational resources.

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