Interactive Brokers Referral Bonus (2024)


Interactive Brokers (IBKR) referral bonus program code for recommended friend trader to open a new brokerage account in June 2024


Interactive Brokers Referral Bonus



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Interactive Brokers Referral Code




Interactive Brokers Referral Program


If you have an Interactive Brokers account, listen up: the company has a refer-a-friend program that could put serious cash in your pocket. Here are the details:


interactive brokers referral


Free Cash, Free Stock


This is how the IBKR referral bonus works: the account owner, who could be an individual or a firm, invites another person or firm to open an account. The inviting party gets $200 of cash. The invited party receives shares of stock in Interactive Brokers (ticker symbol IBKR with a current market price of around $80).


Opening the New Account


In order for both parties to qualify for this referral bonus, Interactive Brokers requires the inviting party to share a link with the friend, who must open the new account through the link.

To get the necessary hyperlink to an existing account, log into the website and head over to the Settings page. This can be accessed by clicking on the head-and-shoulders icon in the top-right corner of the website and then selecting Settings in the drop-down window.


IBKR Referral


On the Settings page, scroll down to the Account Configuration section. There will be a link for “Refer a Friend.” Click on this link to get a new page. It will have the account’s hyperlink that is necessary to send to friends. This referral link can easily be copied (there’s a copy link button right next to it).


IBKR Referral Bonus Fine Print


Before you run off and start inviting long lost relatives to become Interactive Brokers customers, there’s quite a bit of fine print on this deal that you should be aware of first. Not following the rules runs the risk of not getting the bonuses, which are sort of the point here.

The first rule is that the inviting account must have a net liquidation value of at least $2,000 at all times. It should not fall below this level.

Second, some account types are not eligible at all. Only joint, individual, trust, and some organization accounts can invite friends. IRAs are not eligible, nor are hedge funds, institutional accounts, proprietary trading firms, or financial advisors.

Residents of Israel, Spain, and Japan are not eligible, either. Residents of Canada can get the cash bonus but not the IBKR shares. Residents of Australia and India have restrictions. Employees and affiliates of Interactive Brokers are not eligible for this promo.

Third, the inviting account must not have any involvement with the new account once the referral is done. This rule includes training the new account holder in the use of IB’s software, acting as a point of contact between the broker and the new account, or trading in the new account.

Fourth, this may be obvious, but the old account cannot refer itself. It also cannot refer anyone within its household. Apparently, friends don’t include family members.

Fifth, the invited account must deposit and maintain at least $10,000 for one year.

Sixth, if that balance is successfully maintained for a full year, the account will receive $1 in fractional stock of IBKR for every $100 in assets. The maximum payout is $1,000. This would require a deposit of $100,000, ten times the minimum.

Seventh, the inviting account can only refer up to 15 friends in a single year and a total of 30 over the lifetime of this deal.


IBKR Referral Bonus Assessment


This is a very lucrative offer judged by the total amount that can be earned on both sides. It does take more than a year to receive any payouts, though, so patience is an absolute requirement.


Webull Friend Referral Program


If you want to be rewarded with free stocks valued up to $36,000 for referring clients to a brokerage, use Webull's referral program too.


Webull Promotion


Visit Webull Website


Interactive Brokers Review and Rating

Interactive Brokers rating

Read Interactive Brokers Review »


Overview of TradeStation and Interactive Brokers


TradeStation (TS) and Interactive Brokers (IBKR) are very similar in many ways. They both offer excellent software and active trader services. And which one has the upper hand? Let our research provide the answer.


Pricing


Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
Tradestation $0 $14.95 $0.50 per contract $120* $35
IB $0 $14.95 $0.70 per contract $0 $30


Services


Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating
Tradestation
IB


Promotion Links


Interactive Brokers: Use this referral link to get up to $1,000 of IBKR stock for free!

TradeStation: Get up to $150 cash bonus with a $5,000+ qualifying deposit



Investment Vehicles


At Interactive Brokers, traders can buy and sell the following assets:

  • Precious metals
  • Forex
  • Futures (including Bitcoin)
  • Structured products
  • Contracts for difference
  • Warrants
  • Stocks (including penny and OTC)
  • Options (including options on futures)
  • ETFs
  • Closed-end funds
  • Mutual funds
  • Bonds
  • Cryptocurrencies

That’s quite a long list. TradeStation clients get the following investment vehicles:

  • Futures
  • Stocks (including penny and over-the-counter stocks)
  • Options (including options on futures)
  • ETFs
  • Closed-end funds
  • Mutual funds
  • Bonds
  • Cryptocurrencies (Ethereum, Bitcoin, Bitcoin Cash, Litecoin, and XRP)

Both brokers offer access to Initial Public Offerings as well. TradeStation does have a global stock service, although it’s actually offered through Interactive Brokers, who has a much larger global investment service.

Although TradeStation does have the better crypto offering, the overall victory in this category is awarded to Interactive Brokers.


Desktop Platforms


TradeStation has a desktop platform that is free for TS Select customers. The software has some very powerful features, including a trade ticket with very advanced tools. Features include bracket orders, OCO, direct-access routing, and several duration choices.


ibkr referral


Charting on TradeStation’s platform comes with some very robust tools, including drawing tools, technical studies, and an order ticket that sits to the right of the chart.

Many other widgets exist on the platform under the TradingApps menu. Highlights include an options platform, a time & sales window, and Level II quotes.

Over at Interactive Brokers, we found another desktop platform. Named Trader Workstation, this one also packs quite a punch. During our test drive of the software, we really liked the trade ticket, which sits in the top-left of the platform. It has many of the same features that TradeStation’s platform has.


interactive brokers referral


Charting on TWS has many advanced tools, including 30-second candles and right-click trading. One feature that TWS has that TradeStation doesn’t is iBot, an artificial intelligence. Both platforms have a simulated trading mode, a must-have feature to learn either program.

Overall, we’ll call it a tie here.


Other Computer Software


If you don’t want to use a desktop program, both brokerage firms offer other trading platforms for laptops and desktops.

The TradeStation website offers basic account management functions like downloading statements, transferring funds, and updating contact information. For actual trading, there is a browser platform. It offers several important tools, although the platform isn’t nearly as complex as its desktop cousin. On the browser platform, we found charts with technical indicators, multiple graph styles, and a few drawing tools. The order form includes direct-access routing, multiple order types, and the same duration choices as the desktop platform. News stories are displayed on the platform along with a trading matrix.

TradeStation also has a dedicated browser platform for cryptocurrency trading. Order tickets are integrated with charts.

Over at Interactive Brokers, there is a client portal. Accessed through the website, it offers both account management features and trading tools. The order ticket offers several advanced tools, including whole-dollar investing and algo trading, neither of which is available at TradeStation. IB’s charting, however, is much simpler than TradeStation’s browser platform.

IBKR WebTrader is a browser platform (available only to IBKR Pro clients) that delivers another trading experience. Charting is even worse than on the client portal, however. But we did like the order ticket, which offers direct-access routing for options.

Overall, it’s pretty close here.


Mobile Apps


Traders at Interactive Brokers get a mobile platform with several great tools. iBot makes another appearance, along with advanced charting and two order tickets. Combined, they offer several advanced order types. Options can be traded either as calls and puts or as spreads. Charting can be accomplished in horizontal mode with multiple tools, including graph styles and technical indicators.


ibkr referral bonus


Moving to TradeStation, we get horizontal charting, but the top of the screen is occupied by trade data, which decreases visibility. The app offers better options trading, though, with more pre-defined spreads in the app. We also like the trade ticket better, as we found it easier to use than IB’s.


interactive brokers referral bonus


Once again, pretty close here overall.


Day Trading


Extended Hours. IB and TradeStation both offer pre-market and post-market trading. IB has a longer early-bird session.

Level II Quotes. Level II data is available at both broker-dealers (although not for free).

Margin. Trading with borrowed funds is available at either firm. IB consistently has lower rates than TradeStation.

Shorting. Both companies offer online short locating tools.

Routing Fees and Rebates. Adding and removing liquidity with directly-routed orders at both brokers can result in fees and rebates.

Looks like Interactive Brokers has a slight edge.


Other Services


Dividend Reinvestment Program: Interactive Brokers, but not TradeStation, offers a DRIP plan free of charge.

IRAs: An Individual Retirement Account can be opened at either IB or TradeStation. The latter broker has the SIMPLE account, but the former doesn’t.

Automatic Mutual Fund Investing: Neither broker-dealer provides automatic mutual fund investing.

Draw.


Lastly, Our Recommendations


Beginners: Neither brokerage house is spectacular for newbies as both of them are designed for experienced traders. Interactive Brokers does seem to have a larger selection of learning materials.

Long-Term Investors and Retirement Savers: TradeStation has a slight edge here due to its SIMPLE IRA.

Mutual Fund Traders: Neither broker is designed for mutual funds, although they do offer them.

Stock/ETF Trading: This one is quite difficult. Both brokerage firms now have similar pricing schedules with very comparable platforms. It really boils down to software, which is a matter of personal preference.

Small Accounts: Both brokers have decent policies for accounts with a $0 balance.


IBKR Referral Judgment


These two companies are really similar and many active traders use both of them. TradeStation is definitely the better firm for cryptocurrencies, while Interactive Brokers has the advantage for global trading.


Updated on 6/5/2024.


About the Author
Arthur Chachuna is a professional personal finance blogger, and the owner of Brokerage-Review.com. He has been an avid investor for 25 years, and has a background in both applied math and programming.