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In this video we share an updated 2021 review of Interactive Brokers – an established and popular stock broker and trading platform that has been around for 43 years.
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Interactive Brokers was actually the first foreign broker I ever used to invest in the US. Back in 2019, I liked the platform, it was trusted, commissions were low, and it was pretty simple to use.
The only issue I had was the inactivity fee of $10 per month. Basically, you had to generate a minimum of $10 in commissions every month and if you don’t, you’d be charged it anyway.
Not many brokers had this fee, so I decided to stop using Interactive Brokers, but now that they’ve made the change very recently, I’ve deposited some money back into Interactive Brokers to give it another try.
- Is Interactive Brokers Safe, Legit, Regulated or Trustworthy?
Interactive Brokers is one of the go-to brokers especially for foreigners looking to invest in the US markets. They’re listed on NASDAQ, with a market cap of over $25b and even brokers like Trading 212 & TradeStation use Interactive Brokers’ execution capabilities.
They’re also regulated in many countries, including UK and the US, and Interactive Brokers is protected by SIPC which means that investors are protected up to $500,000 in the event anything happens to them.
So yes – they’re one of the most established brokers out there and have a very good track record.
- Interactive Brokers User Experience
Most people use their desktop web app, but Interactive Brokers also has a mobile app. They also have more advanced versions that you can download as a desktop app (mostly for trading).
Their user interface is not as friendly or intuitive like Robinhood, Webull, or eToro. Its a bit more traditional in a way, but so are most of the established brokers.
I still can navigate everything fine, and the mobile app is also handy to open positions and check my portfolio.
The only annoying thing is that I keep getting logged out if I’m inactive for a bit, but that’s a safety feature so I guess I can’t complain.
- Features and Available Assets
Interactive Brokers offer most products like stocks & ETF’s, and for traders options & futures as well.
The good thing about Interactive Brokers is that they have a whole host of other markets apart from US like Europe, Singapore, and Hong Kong. This means they cover all stocks within these regions, which is something that brokers like eToro and Webull don’t.
Also, Interactive Brokers offer fractional shares which is very important to beginner-intermediate investors like myself. On top of this, they allow pre-market and after hours trading.
- Interactive Brokers Fees
This is the part where Interactive Brokers is slightly behind the brokers we’ve reviewed previously.
Interactive Brokers don’t offer 0 commission trading, and they do charge a fee which varies by country. In the US, they charge $0.005 per share with a minimum of $1 per trade.
This is acceptable to me because I’ve read that you can get better execution on trades with brokers like Interactive Brokers which could result in slightly lower prices on the stocks you buy and slightly higher on those you sell. Its not guaranteed, but I do know that Interactive Brokers is really good at executing at the best possible prices, minimizing the spread we pay.
- Deposits and Withdrawals
Easy and straight-forward. They do accept deposits in SGD at no fee which is great
For Malaysians, sign up for a CIMB SG account…
Hey! Thanks for reading the description. We can’t fit everything in here, so make sure to watch the whole video to find out more 🙂
00:00 – Interactive Brokers 2021 Review (The Best Is Back)
1:02 – Interactive Brokers removed inactivity fees
1:21 – Is Interactive Brokers safe, legit, regulated or trustworthy?
3:15 – Is the Interactive Brokers user experience easy to use?
4:36 – What features and assets does Interactive Brokers offer?
5:49 – What are the Interactive Brokers fees? (is it free?)
7:42 – Interactive Brokers deposits and withdrawals
8:44 – Is Interactive Brokers any good?
9:17 – How to use Interactive Brokers
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Interactive Brokers disclaimer: https://themillennialfinance.com/disclaimers
These videos are for entertainment purposes only. We are not financial advisors and this is not financial advice. You (and only) you are responsible for your financial decisions.
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Does Interactive Brokers Accept Us, Interactive Brokers 2021 Review (The Best Is Back).
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Interactive Brokers 2021 Review (The Best Is Back), Watch new replays relevant with Does Interactive Brokers Accept Us.
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Getting an account with Interactive Brokers is type of a lengthy procedure. I went to the Canadian website, and began completing a specific account application. It took about one hour, however you can save it partway through if you don’t have that much time at one time. Then there are some pages that I needed to print, sign, and mail to IB’s workplace in Montreal. I included a cheque for $1.00, to produce a link with my checking account, and likewise a cheque to money the account. In overall, it took about three weeks to get whatever prepared to start trading.
Remember, you have to pay commissions two times: When you buy and then once again when you offer. If you are paying a broker $30 commissions per trade and trading just $1,500 worth of stock at a time then if that stock goes up 8% you generally paid your broker HALF your earnings. And the broker didn’t even take on any of the risk. The broker earns money even when you sell for a loss. You just break even and the broker made $60 if the stock only went up 4% and you sold it.
One of the very best ways to make the right investment is networking. You must Interactive Brokers trade connect with the essential individuals in this industry and acquire financially rewarding and interesting news which will give you sure shot high return trading tips. You must be abreast with the current market news and the information is not always pointed out in newspapers and publications.
As soon as each week and sometimes only monthly, the shared funds in this basic plan just need to be inspected. When a sell signal is provided with no commission charges, if you have a 401K you ought to be able to transfer to a cash market fund. If you do this twice a year, it will be a rare event.
When they cross each other the traders sell, in a chart the upper basic discrepancy is above the price line and. The lower basic deviation is listed below the cost line and when they cross each other the traders buy Interactive Brokers .
Among the simple online trading tools that these sites provide is the online search engine. The search engines offered by a few of the brokers are extremely practical as they let you discover them based on the specifications and functions you require.
On the other hand, there are also some bookings on Forex online trading. Some cases of scams have actually been reported in which fraud websites tempt individuals by saying that they can get revenue, which is far higher than the normal. Because the trading occurs online, some skeptics think that traders don’t actually get what they must get.
Why do people invest money? It is rather apparent, as the majority of us desire future financial security. By investing one can save cash for their future. So, why not save cash from today? Buy stocks and make make money from the marketplace.
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