The Interactive Brokers
Group established in 1994, by Thomas Peterffy, the Chairman and CEO. This Brokers
is part of international corporation known as Interactive Brokers Group LLC
(IBG LLC).
The
businesses of the group are an automated global electronic market maker and
broker. The group headquarters are in Greenwich, Connecticut, however, it also has offices around the globe.
Including Hong Kong, London, Montreal, Tokyo, and Sydney.
Interactive Brokers LLB is
the biggest subsidiary of the group, and is a US broker-dealer that was made in
1993. Based on the figure of daily average revenue trades, it is measured to be
the largest US electronic broker.
Interactive Brokers offers more than 100 market centers in 24
countries, together with dealing
in stocks, futures, bonds, Forex, options, and a number of other instruments,
which they can choose from. This can be made through one account, and using the
same trading platform.
This broker targets its
services at the more knowledgeable trader, instead of a beginner, however, one
great feature that might interest novices is their demo account.
Trading Platform
Interactive Brokers have their
own trading platform, instead of using one of the more popular choices, however,
this shouldn’t be perceived as a
negative.
Although, It is not the
easiest of platform, mostly if you are not very experienced. It is a very
powerful and tremendously customizable platform. However, with so many instruments available for
trading, it is definitely a requirement. With Trader Workstation there is beyond
60 different order types, that can be generated under a number of different circumstances.
This Broke aims its services at more professional, classy, and
experienced traders. There are also a few
requirements to keep in mind:
Minimum
deposit is $10,000 USD – But if you are under 25 years of age, then the minimum
deposit drops down to $3,000 USD
Minimum trade
commission – The minimum trade commission is $2, that is if the
trade is less than $10,000 then you are subject to commission.
But since this broker intention
is to offer services at traders who trade well in excess of such figure, this hardly
proves to be a problem.
Minimum
monthly activity – It is a main requirement that the traders produce at
least £10 per month in commission, this is $3 per month for traders below 25 of
age. There is an activity fee, which will carry charges up to $10, should
activity result in commission less than this amount.
IBs customer support is 24 hours, during weekday. It comes via a series of regional customer
service centers located in different places across America, Europe, and Asia.
So much for this today, there are still few Best Forex
Brokers like MXTrade Trade12 Netotrade and xtrade, FBS and a
few more that I am considering, but that will be in my next post. Feel free to
share your choice of Best Forex Brokers in the
comment below.
