Trading Futures at Interactive Brokers
Did you know that Interactive Brokers offers more than stocks and options? In addition to warrants, CFDs, and currencies, the company also allows futures trading. These include indexes and interest rates, not just commodities. Below we’ll look at futures at IB and see how its service compares to other brokers.
Buying and Selling Futures on IB’s Desktop Program
Trader Workstation is Interactive Brokers’ main trading platform. It’s free to download and includes a demo mode for practice. The platform is complex, so it takes some time to learn, but you can trade futures in simulation mode until you’re ready to trade live.
To begin trading futures, first create a futures watchlist in Trader Workstation. Click the plus sign in the upper-right corner of the default TWS layout to add a new list. Give it a name related to futures so you can easily recognize it later.
After creating your watchlist, add contracts by typing their ticker symbols into the first column. For example, “LC” represents live cattle. Make sure you select “futures” when entering a symbol because TWS may also show stocks or other products with the same code. You may also see multiple expiration months for each contract.
When you select a contract, a chart automatically appears in the chart window, where you can study price movements and use technical tools.
To place a trade, use the order ticket in the top-left corner of the platform. Select a contract from your watchlist, and the form will fill automatically. Then choose buy or sell, complete the order details, and send it.
WebTrader
You can also trade futures using IB’s simpler browser platform called WebTrader. It’s less advanced than TWS, but you can still place orders. You’ll need to know the contract symbol before trading.
To open a chart, enter the ticker in the field near the top of the page next to the green plus sign. The chart shows up to five years of data, but there are no technical indicators available.
The order ticket is near the bottom. Re-enter the ticker to start your order, then choose the expiration month. This differs from TWS, where expiration months are automatically linked to each contract.
WebTrader lets you set start and end times for orders, which is convenient. You can place market, limit, and on-the-open orders. In testing, we found only one routing option, but you can attach a trailing sell order to limit losses.
Futures Research
A great way to research futures at Interactive Brokers is through the company’s website. Its futures search tool scans global markets and filters by symbol, exchange, country, or currency. You can find contracts from exchanges such as the London Metals Exchange, the Mexican Derivatives Exchange, and the Chicago Board of Trade. IB also offers a helpful video explaining how to trade futures on Trader Workstation.
The futures listing page on IB’s website shows all exchanges where contracts can be traded, along with hours, products, and currencies.
Options on Futures
Interactive Brokers also supports trading options on futures. The trading process is the same as regular futures. You’ll need to know the ticker symbol, and in TWS, be sure to select “Futures Options” instead of “Futures” when choosing a contract.
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IBKR Futures Pricing
Futures and options on futures cost the same to trade at Interactive Brokers. Regulatory and exchange fees are passed directly to customers.
On the fixed commission plan, each contract costs $0.85. Certain products, such as e-mini FX and bitcoin futures, have different prices.
A tiered pricing plan is also available, where commissions range from $0.85 to $0.25 depending on trading volume. Fees start to drop after 1,000 contracts per month.
Because IB is a global broker, traders can access foreign futures exchanges. Commissions vary by region. In Europe, tiered commissions range from €0.90 to €0.25 per contract. Fixed pricing differs by country, from €0.40 in France up to €4.50 in Belgium.
Comparison
Some of IB’s competitors also offer futures trading. E*TRADE is one of them, charging $1.50 per contract for both futures and options on futures. Bitcoin contracts cost more. Although IB’s rate is lower, E*TRADE doesn’t have a monthly minimum. However, E*TRADE does not provide access to international futures markets, which IB does.
E*TRADE has better educational resources and a more user-friendly layout for futures traders. Beginners will likely find its materials easier to follow.
Robinhood is another low-cost broker with futures commissions of $0.50 or $0.75 per contract.
IBKR Futures Trading Recommendation
Interactive Brokers is best for experienced and international futures traders. Because the tools can be complex and the platform has higher learning requirements, beginners may prefer a simpler, lower-cost broker.
Updated on 10/7/2025.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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