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Interactive Brokers Assets Under Management (AUM)


2021 IB total assets under management. Interactive Brokers AUM: client assets and number of brokerage accounts/users.



Interactive Brokers: Number of Users and Assets Under Management


Are you interested in the financial strength of Interactive Brokers? We’ve done all the research for you, and the answers may surprise you. Read below.


Interactive Brokers Assets Under Management


Client assets $232 billion
Funded accounts 981,000
Average # of trades per day 1,953,000
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Interactive Brokers Number of Customers


Interactive Brokers has about 981,000 brokerage accounts open and funded right now. This number is 15% higher than prior year and 4% higher than prior month.


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Customer Support


Interactive Brokers emphasizes global investing. As such, it has several customer service departments for a variety of nationalities. The phone number for US-based customers is live from 7:00 am until 7:00 pm during the week. The time zone is Central Standard Time. On Sunday, the hours are noon until 6 pm. Interactive Brokers is closed all day Saturday.

In case you're traveling outside the U.S., Interactive Brokers has phone numbers for Canada, Europe, Russia, Hong Kong, Australia, India, China, and Japan. Or you can just go to the Interactive Brokers website where there is a helpful chatbot, aptly named iBot. It answered our questions with links to pages that did a sufficient job of providing relevant information.

Besides chatbots and phone service, Interactive Brokers also provides an on-line chat feature. It is up and running 24 hours a day Monday through Friday. It's down on Saturday but comes back online on Sunday at noon, CST.

We also liked the ability to contact the broker-dealer with a user-friendly message system on its website. Service tickets can be submitted through the Interactive Brokers website as well.

Although a lot of these features are certainly advantageous, we didn't care for the lack of branch locations, which some of Interactive Brokers's competitors do offer.


Banking Features


Interactive Brokers is one of the few day-trading and active-trading specialists that offers a debit card. It's a Mastercard, and it functions with Apple Pay, Samsung Pay, and Android Pay. It comes with price protection, extended warranty, travel services, and emergency card replacement.

Free cash balances in an Interactive Brokers account currently earn 1.4% for balances above $10,000. Below that level, the broker doesn't pay any interest.


Other Investment Vehicles


Now we come to a category where Interactive Brokers is going to really outperform the competition. Interactive Brokers specializes in offering a variety of markets, and that includes not only geographic markets but also multiple asset classes.

We found stocks, ETFs, warrants, options, futures, options on futures, IPO's, forex, precious metals, bonds, contracts for differences, single stock futures, structured products, inter-commodity spreads, and EFP's. Can't get much better than that.


IB Commissions, Fees, and Account Requirements


Interactive Brokers Fees Rating

Now we come to a rather complicated section, which is pricing. Because IB caters to investors in a variety of countries, there are multiple commission schedules based on different currencies. We're going to look at the US schedule, which itself isn't the easiest to analyze.

There are two plans available to US-based investors. On the IBKR Pro schedule, trades cost 0.5¢ per share with a minimum of $1 and a maximum of 1% of trade value. Exchange and regulatory fees are included in the commission.

For the IBKR Lite plan, stocks and ETFs cost $0. Unlike the IBKR Pro schedule, regulatory and exchange fees are passed onto the customer. Clients also pay 1% more on margin rates and have much lower returns on their cash balances.

The schedule for options is equally complex, with different rates for how orders are routed and how many contracts are traded in a month. On the high end, derivative trades cost $1 per contract, and on the low end, the commission is 25¢ per contract. There is a consistent $1 minimum commission per trade. There are no exercise and assignment fees, a nice bonus.

Interactive Brokers charges for some data packages, and there is a $2,000 account minimum to subscribe. Research and news from Dow Jones, ETFguide, Seeking Alpha, Thomson Reuters, Zacks, and Morningstar are all free. Monthly data from all major countries costs $55 for non-professionals and $155 for pros. TheStreet.com costs $9.98 per month and includes a free trial. Many other data services are available, and the prices vary considerably.


IRAs


Interactive Brokers IRA Rating

A variety of IRAs can be opened at Interactive Brokers. These include Roth, Traditional, Inherited, and SEP account types. We did not find a SIMPLE account, although rolling over an old employer's plan is a possibility. There is a quarterly $7.50 IRA fee at IB.

An IRA at Interactive Brokers can be opened in any currency, although withdrawals are only permitted in US dollars. Futures can be traded in an IB IRA.


Comparison


Interactive Brokers Comparison

Interactive Brokers has a very robust trading platform with Trader Workstation. However, thinkorswim from TD Ameritrade is also very sophisticated; and TD Ameritrade doesn't have a monthly account fee. TD Ameritrade charges $0 per equity trade.

Anyone looking for the lowest commissions should check out Firstrade that charges $0 commission on stocks, ETFs and mutual funds. There is no catch.


Recommendation


Interactive Brokers specializes in serving professional and advanced traders. Therefore, we don't recommend the firm for beginner investors. The flip side of this is that IB would be ideal for day traders and other active traders. It has great pricing for this group.

Although there is no minimum deposit requirement to open a brokerage account, small investors who don't trade very much will have to pay $120 per year to maintain an account. These traders can find better values elsewhere.

Likewise, there are better brokers out there for IRAs and mutual fund investors.


Interactive Brokers Review Summary


As you see, Interactive Brokers charges little and delivers a lot in many areas. Active traders will be hard pressed to find a better firm.