Interactive Brokers
interactivebrokers.com
Global broker reaching 170+ markets in 40 countries, with $0 US stock commissions on IBKR Lite, low per-share IBKR Pro pricing and Trader Workstation.
What it is
Interactive Brokers (IBKR) is a large, Nasdaq-listed broker with more than 5 million clients. From one account you can trade stocks, ETFs, options, futures and futures options, currencies, bonds, mutual funds, US spot gold and prediction markets across more than 170 markets in 40 countries, funding in up to 29 currencies. Platforms range from the professional Trader Workstation (TWS) to the newer IBKR Desktop, the browser-based Client Portal, IBKR Mobile and the simplified GlobalTrader app, plus paper trading and APIs.
There are two pricing plans. IBKR Lite, for US residents only, charges $0 commission on US exchange-listed stocks and ETFs, but pays less interest on cash (up to 2.38%) and charges more for margin (from 6.38%). IBKR Pro charges per share, $0.005 fixed or from $0.0035 tiered with a $0.35 to $1.00 minimum per order, and in exchange offers up to 3.38% on uninvested cash, margin from 4.38% and what IBKR calls enhanced price execution. US options cost $0.65 a contract on both plans at normal volumes, less for low-premium contracts or high Pro volume.
Market data is where new clients get caught out. Free real-time US stock quotes come from Cboe One and IEX and are not consolidated, so they do not show the full national quote (NBBO). Consolidated quotes, options quotes and most foreign markets are paid subscriptions, some waived once you generate enough commission, and any paid data requires at least $500 of account equity.
Key features
- Global market access
- Stocks, options, futures, forex, bonds and funds on more than 170 markets in 40 countries from one account, with deposits in up to 29 currencies.
- Trader Workstation and IBKR Desktop
- TWS is the full professional platform with advanced order types and risk tools; IBKR Desktop is a newer, streamlined alternative.
- IBKR Lite and Pro pricing
- Lite: $0 on US-listed stocks and ETFs for US residents. Pro: $0.005 a share fixed or tiered from $0.0035, with better cash and margin rates.
- Interest and margin
- Up to 3.38% on uninvested USD cash and margin from 4.38% on Pro; up to 2.38% and from 6.38% on Lite.
- Options tools
- Dedicated options trading tools and Risk Navigator for portfolio risk analysis; US options at $0.65 a contract at standard volumes.
- Paper trading and education
- A simulated account for practice and free courses through IBKR Campus and Traders' Academy.
- APIs and AI integration
- TWS, Web (REST) and FIX APIs, plus connections for AI assistants that support the Model Context Protocol.
Pricing
| Plan | Price | What you get |
|---|---|---|
| IBKR Lite | $0 per US stock/ETF trade | US residents only; options $0.65/contract; cash interest up to 2.38%; margin from 6.38% |
| IBKR Pro Fixed | $0.005/share | $1.00 minimum and 1% of trade value maximum per order; cash interest up to 3.38%; margin from 4.38% |
| IBKR Pro Tiered | $0.0035/share and lower | Falls with monthly volume; $0.35 minimum per order; exchange and clearing fees passed through |
US options: $0.65 per contract up to 10,000 contracts a month, $0.50 or $0.25 for low-premium contracts, $1.00 minimum per order. No account minimum and no custody fee from IBKR. Real-time consolidated quotes, options quotes and most non-US data are paid subscriptions and need at least $500 in account equity; some are waived above a monthly commission threshold.
Free option: No account minimum. IBKR Lite trades US-listed stocks and ETFs without commission, and every client gets free non-consolidated real-time US stock quotes (Cboe One and IEX), delayed data on other products where available, 100 free snapshot quotes a month and a paper trading account.
Checked September 25, 2026 on interactivebrokers.com. Prices change; confirm on the provider's site before you subscribe.
Strengths
- Unusually broad global access: 170+ markets in 40 countries from one account
- Low per-share and per-contract costs on Pro, and $0 US stock trades on Lite
- Competitive interest on cash and margin rates
- Professional-grade platforms and APIs for automated trading
Limitations
- Free real-time US quotes are non-consolidated; full NBBO and options quotes cost extra
- Paid market data requires at least $500 in account equity
- IBKR Lite is only for US residents and pays less interest with higher margin rates
- Trader Workstation is complex; the range of platforms and settings takes time to learn
Good fit for
- Active and professional traders who want low commissions and margin rates
- Traders who want international stocks, futures or forex in the same account
- Developers who want to automate trading through an API
Look elsewhere if
- Beginners who want the simplest possible app (GlobalTrader helps, but the ecosystem is large)
- Traders who expect free consolidated real-time data with no subscriptions
Compare
Alternatives to Interactive Brokers
Interactive Brokers questions
What is the difference between IBKR Lite and IBKR Pro?
Lite charges $0 on US-listed stocks and ETFs but pays up to 2.38% on cash with margin from 6.38%. Pro charges per share ($0.005 fixed or from $0.0035 tiered) and pays up to 3.38% with margin from 4.38%.
How much does Interactive Brokers charge for options?
US options are $0.65 per contract at standard volumes on both Lite and Pro, with a $1.00 minimum per order. Contracts with very low premiums cost $0.25 or $0.50.
Is there a minimum deposit at Interactive Brokers?
No account minimum is required, but subscribing to paid market data needs at least $500 in account equity.
Is market data free at Interactive Brokers?
Real-time US stock and ETF quotes from Cboe One and IEX are free but not consolidated. Consolidated quotes, options data and most foreign markets are paid monthly subscriptions.
Does Interactive Brokers have paper trading?
Yes. A simulated trading account is available to practise without risking money.
Written from Interactive Brokers's own website and documentation. All Trading Tools lists and compares tools; it does not recommend trades or give financial advice. Sources: interactivebrokers.com/en/home.php, interactivebrokers.com/en/pricing/commissions-stocks.php, interactivebrokers.com/en/pricing/commissions-options.php, interactivebrokers.com/en/pricing/market-data-pricing.php.