What is IBKR's margin rate?

IBKR Pro USD margin runs 5.83% – 6.83% on a tiered basis as of May 7, 2026 — the lowest in retail brokerage. Lite runs ~2.5 percentage points higher.

Does Interactive Brokers offer 24-hour trading?

Yes. IBKR supports overnight trading on 10,000+ US stocks and ETFs from 8 p.m. to 3:50 a.m. ET via the IBEOS and Blue Ocean ATSs — by far the broadest 24-hour list in the industry.

IBKR Lite vs. IBKR Pro — which should I pick?

Lite is US-only, $0 commission, uses PFOF, has 7 a.m. ET extended-hours start, and ~2.5 pp higher margin. Pro is global, tiered or fixed pricing, no PFOF, SmartRouting across 90+ venues, 4 a.m. extended-hours start, and the lowest margin rates in retail. Pick Pro if you use margin, trade actively, or want best execution.

Does IBKR support futures and forex?

Yes — both. Futures and futures options on 35+ exchanges including CME, CBOT, NYMEX, COMEX, Eurex, HKFE, SGX, OSE, ASX, and NSE. Forex via IdealPro institutional ECN on 26 currencies with ~1/10 pip spreads on majors.

Can beginners use IBKR?

Technically yes — $0 account minimum, Lite tier is commission-free, and Client Portal is approachable. But TWS density intimidates many novices; if you primarily want a polished app for occasional investing, Fidelity or Robinhood is a softer landing.

Does IBKR offer crypto?

Yes — 11 coins (BTC, ETH, LTC, BCH, SOL, ADA, XRP, DOGE, AVAX, LINK, SUI) via Paxos Trust or Zero Hash. Commission is a transparent 0.12–0.18% of trade value with no spread markup. Wallet transfers to external addresses are supported.

What's IBKR's API capability?

TWS API (Java, C++, Python, C#, VB, ActiveX, DDE), FIX CTCI, and the modern Client Portal Web API (REST + WebSocket). Paper trading with $1M simulated funds is identical to live. No competitor matches this breadth in retail.

Interactive Brokers review

4.6 / 5

Last reviewed May 13, 2026

Visit Interactive

Best for active, global, and advanced traders. Lowest margin rates in the industry, broadest international access (160+ exchanges, 36 countries), and the most complete API stack in retail brokerage.

Lowest margin rates
160+ markets, 36 countries
~120 order types & algos
Full API stack
10,000+ overnight stocks

At a glance

Founded: 1978
Customers: 4.6M
Minimum deposit: $0 (Lite & Pro); $2,000 required to enable margin
Regulators: SEC · FINRA · CFTC
FDIC sweep: Up to $5M

Strengths and weaknesses

Strengths

Lowest margin rates in retail brokerage — IBKR Pro USD blended 5.83–6.83%
Broadest international access — 160+ exchanges across 36 countries, 28 currencies
Trader Workstation (TWS) with ~120 order types, algos, Risk Navigator
Deepest short-locate inventory; SYEP shares 50% of borrow fees with clients
Full retail API: TWS, FIX, REST/WebSocket — 7 languages
Futures and futures options on 35+ global exchanges
10,000+ US stocks and ETFs with 24-hour overnight trading
Portfolio Margin available ≥$110K (2–4× lower requirements vs. Reg-T)
Tiered options pricing drops to $0.15/contract at volume
$30M per-account excess SIPC via Lloyd's of London + FDIC sweep to $5M/$10M

Weaknesses

TWS density intimidating for beginners and casual investors
IBKR Lite accepts PFOF and runs ~2.5 pp higher margin than Pro
Mobile app learning curve vs. polished Robinhood/Fidelity apps
US-based customer service consistently rated below Fidelity and Schwab
Crypto selection (11 coins) trails Robinhood (~25) and Webull (40+)
Mutual fund TF buys are $14.95 — Fidelity is $0 NTF on 10,000+
No retail branch network

Best for

Sub-ratings

Commissions & fees: 4.8
Platforms & tools: 5.0
Mobile app: 4.0
Research: 4.2
Education: 4.0
Customer service: 3.8
Range of investments: 5.0
Active trading: 5.0

Pricing & fees

Full fee schedule

Category	Item	Price	Notes
Stocks & ETFs	US stock / ETF (Lite)	$0	PFOF-routed
Stocks & ETFs	US stock / ETF (Pro Fixed)	$0.005/share	$1 min, 1% max
Stocks & ETFs	US stock / ETF (Pro Tiered)	$0.0035 → $0.0005/share	$0.35 min; volume tiers
Options	Options per contract	$0.15–$0.65	Premium-based volume tiers
Futures	Futures per contract	$0.85 → $0.25	Volume tiers
Crypto	Crypto commission	0.12–0.18% of trade	$1.75 min, 1% max; transparent — no spread markup
Bonds	US Treasuries	$5 + 0.002%	—
Mutual funds	Mutual funds — transaction-fee	$14.95 per buy	8,800+ NTF available

PFOF: Does not accept payment for order flow on equities; does not accept PFOF on options. IBKR Pro does NOT accept PFOF. IBKR Lite uses PFOF on equity routing.

Margin rates vs. peers

Effective interest rate by debit balance. Lower is better. Step-line — rate is constant within each tier.

Cash sweep

Default cash sweep

4.33%(IBKR Pro cash interest)

Pro pays benchmark – 0.5% on settled cash above $10,000 (proportional accrual below $100K NAV). Lite pays benchmark – 1.5%.

As of May 7, 2026

Asset coverage

US stocks (NYSE/Nasdaq/AMEX)
Yes
OTC / penny stocks
Pink Sheets, ArcaEdge accessible with permission; $0.0035/share, 0.5% max
Yes
Fractional shares
≥ $1 on US stocks/ETFs + select European/Canadian shares
Yes
Options (US + global)
US equity/index/ETF + Eurex, Euronext, HKEX, OSE, ASX
Yes
Mutual funds
48,000+ globally; ~21,000 to US clients incl. ~8,800 NTF
Yes
ETFs
All US-listed commission-free on Lite
Yes
US Treasuries
Yes
Corporate / muni bonds, CDs
1M+ CUSIPs incl. sovereigns (gilts, Bunds, JGBs, EM)
Yes
Forex
26 currencies via IdealPro ECN; ~1/10 pip spreads on majors
Yes
Futures / futures options
CME, CBOT, NYMEX, COMEX, ICE, Eurex, HKFE, SGX, OSE, ASX, NSE — 35+ exchanges
Yes
Crypto (direct)
11 coins via Paxos/Zero Hash; transparent 0.12–0.18% commission; wallet transfers allowed
Yes
International stocks
160+ exchanges in 36 countries, 28 currencies
Yes
IPOs
Yes
Pre-market trading
4:00 a.m. ET start on Pro; 7:00 a.m. on Lite
Yes
After-hours trading
Until 8:00 p.m. ET
Yes
24-hour overnight equity trading
10,000+ US stocks/ETFs via IBEOS + Blue Ocean, 8 p.m.–3:50 a.m. ET
Yes
Prediction markets
ForecastEx / IBKR ForecastTrader — CFTC-regulated DCM
Yes

Platforms & tools

Platform deep-dive

Desktop
Trader Workstation (TWS)
- ~120 order types & algos (Adaptive, VWAP, TWAP, MidPrice, ScaleTrader)
- Mosaic and Classic layouts; ChartTrader
- Risk Navigator, Option Strategy Lab, Probability Lab
- +1 more — see platform deep-dive
Flagship desktop; Java-based, Win/Mac/Linux
Desktop
IBKR Desktop
- Streamlined desktop launched 2023, Windows/macOS
- AI tools: Sentiment-by-Headline, Option Lattice, Performance Forecasting
- Bridges TWS power with a lighter UI
Web
Client Portal (WebTrader)
- Browser-based account management + trading
- Reports, tax docs, transfers, deposits
Mobile
IBKR Mobile
4.6★ App Store
- TWS-grade order types on iOS/Android
- Overnight trading, ForecastTrader, alerts, mobile authentication
Mobile
IBKR GlobalTrader
- Simplified mobile app for stocks/options
- Global market access in a casual UI
API
APIs
7 languages
- TWS API: Java, C++, Python, C#, VB, ActiveX, DDE
- FIX CTCI for institutional routing
- Client Portal Web API (REST/WebSocket) — recommended modern integration
- +1 more — see platform deep-dive

Key capabilities at a glance

Commission: $0 (Lite) / per-share (Pro)
Fractional shares: Yes
Extended hours: Yes
Overnight (24/5): Yes
~10,000 eligible · Broadest in industry — effectively all US equities
Options: per-contract pricing
OTC access: 5/5 full, 0/5 limited
Penny-stock surcharge: Per-share pricing applies
Short locate: best

OTC market access by tier

OTC Markets organises non-exchange-listed securities into five tiers by disclosure quality. Interactive Brokers’s coverage:

OTCQXFull
OTCQBFull
Pink CurrentFull
Pink LimitedFull
Grey MarketFull

Awards & recognition

2026 Best Range of Investments — StockBrokers.com
2026 Best for Active Traders — StockBrokers.com
2026 Best for Futures — StockBrokers.com
2026 Best Online Broker for Advanced Traders — NerdWallet
2025 Best Online Broker — BrokerChooser
2025 Added to S&P 500 — S&P Dow Jones Indices

Recent changes

Dec 2025product
Brazil B3 exchange added to direct international access
Nov 2025product
Taiwan TPEx added
Aug 2025regulatory
Interactive Brokers added to the S&P 500
Mar 2025product
Crypto expansion: SOL, ADA, XRP, DOGE added (later AVAX, LINK, SUI)
2025product
UAE equities added to direct international markets
Jan 2024regulatory
Limited employee-email breach affecting ~600 clients; disclosed and remediated

Frequently asked

What is IBKR's margin rate?: IBKR Pro USD margin runs 5.83% – 6.83% on a tiered basis as of May 7, 2026 — the lowest in retail brokerage. Lite runs ~2.5 percentage points higher.
Does Interactive Brokers offer 24-hour trading?: Yes. IBKR supports overnight trading on 10,000+ US stocks and ETFs from 8 p.m. to 3:50 a.m. ET via the IBEOS and Blue Ocean ATSs — by far the broadest 24-hour list in the industry.
IBKR Lite vs. IBKR Pro — which should I pick?: Lite is US-only, $0 commission, uses PFOF, has 7 a.m. ET extended-hours start, and ~2.5 pp higher margin. Pro is global, tiered or fixed pricing, no PFOF, SmartRouting across 90+ venues, 4 a.m. extended-hours start, and the lowest margin rates in retail. Pick Pro if you use margin, trade actively, or want best execution.
Does IBKR support futures and forex?: Yes — both. Futures and futures options on 35+ exchanges including CME, CBOT, NYMEX, COMEX, Eurex, HKFE, SGX, OSE, ASX, and NSE. Forex via IdealPro institutional ECN on 26 currencies with ~1/10 pip spreads on majors.
Can beginners use IBKR?: Technically yes — $0 account minimum, Lite tier is commission-free, and Client Portal is approachable. But TWS density intimidates many novices; if you primarily want a polished app for occasional investing, Fidelity or Robinhood is a softer landing.
Does IBKR offer crypto?: Yes — 11 coins (BTC, ETH, LTC, BCH, SOL, ADA, XRP, DOGE, AVAX, LINK, SUI) via Paxos Trust or Zero Hash. Commission is a transparent 0.12–0.18% of trade value with no spread markup. Wallet transfers to external addresses are supported.
What's IBKR's API capability?: TWS API (Java, C++, Python, C#, VB, ActiveX, DDE), FIX CTCI, and the modern Client Portal Web API (REST + WebSocket). Paper trading with $1M simulated funds is identical to live. No competitor matches this breadth in retail.