Interactive Brokers

Interactive Brokers is a global brokerage offering stocks, exchange traded funds, options, futures, futures options, bonds, funds, forex and prediction markets across a very large number of markets worldwide. It is aimed at active and professional traders, and its reputation rests on execution quality, breadth of market access and the rates it pays and charges on cash.

Interest treatment is where it differs most visibly from the commission free retail apps. The firm publishes the rate it pays on uninvested cash and the rate at which margin loans begin, which for an active account is often a larger annual figure than commissions. A brokerage that pays little on idle cash and charges heavily to borrow can cost far more than one with a slightly higher commission, and publishing both makes the comparison possible.

Market breadth is the second reason professionals choose it. Access to a wide range of international exchanges from a single account avoids maintaining separate brokerage relationships per region, which is a substantial operational saving for anyone trading outside their home market.

The IBKR Lite tier offers commission free trading on United States stocks and exchange traded funds for those who do not need the professional pricing structure. Extensive API access, analytics and execution quality reporting support algorithmic and institutional use.