Why Selected It
Due to its wide range of worldwide assets, sophisticated analytical tools, and calculators, Interactive Brokers (IBKR) once again ranks as our top brokerage for both advanced daily traders and international traders, leaving its nearest rivals well behind. As it is best stock trading platform.
Cons & Pros
Advantageous
- order execution
- Orders on demand for every scenario imaginable
- Unmatched variety of investable domestic and international assets
- Low interest rates on margin
- Trader Workspace (TWS) is a highly effective and adaptable trading platform.
Cons
- Clients of IBKR Lite are not eligible for IBKR’s SmartRouting.
- TWS can be challenging to learn.
- No automated trading or bespoke trading algorithms backtesting
- The tiered, modest fee-based pricing offered by Interactive Brokers can be a little perplexing.
Overview
Since no other broker offers such a broad range of investable worldwide assets, advanced trading technology, and robust research tools, Interactive Brokers is our top recommendation for both advanced and international traders. IBKR is a reliable, well-capitalized broker that is also traded openly, with 1.92 million customer accounts and $2.17 million in daily deal values.
Foundations:
Thomas Peterffy, the organization’s current chairman, established T.P. & Co. in 1978. Although the company was a pioneer in the use of computers in trading, Interactive Brokers Inc. didn’t become a U.S. broker-dealer until 1993. It is currently one of the most comprehensive brokers in the market. IBKR is without a doubt the greatest worldwide broker, offering access to 150 markets, support for trading in 200 countries across stocks, options, futures, currencies, bonds, ETFs, and more, as well as funding choices in 24 different currencies.
Ideas for innovation:
The corporation continually innovates to keep a significant lead over the competition. More recent improvements worth noting include the advent of fractional share trading for European shares and ETFs, a market rate accrued interest on uninvested capital, and the IBKR GlobalTrader mobile app.
On the IBKR Mobile and IBKR GlobalTrader apps, as well as on the desktop, web, and mobile editions, international traders have access to financial markets and all assets. TWS is a beautifully made tool that integrates technical analysis, social sentiment, basic research, and financial calculators in a way that better prepares users to take advantage of price inefficiencies than any other platform we studied.
Usability of eOption
It’s simple to use the eOption website and create an account. Any eOption website page can be accessed by clicking a green “OPEN AN ACCOUNT” link at the top. Either a paper trading account or a real trading account can be used to begin (hover over each to learn what you can do with that type of account). If you need assistance, there is eOption review and helpful FAQ area as well as keep it going or phone support.
Although it operates in a browser, eOption Trader offers the appearance and feel of a downloaded direct-access platform. You can choose between the “Full” design, which has more buttons and tabs, and the “Basic” layout, which is intended for novices, when you log in. You can easily locate the available tools and alter your layout by dragging and dropping widgets, including those for order entry. For active options traders, the platform includes OptionsPlay and allows you to add an options strategy to a watchlist.
Although the style and feel are comparable, the smartphone app isn’t quite as user-friendly or adaptable as the web-based platform. On both the web-based and mobile platforms, you can trade the same asset classes, and watchlists sync between both. Both platforms offer real-time streaming data and news, however mobile has fewer graphing and order entry options.
Experience in a Trade
Orders can be entered in eOption Trader using the “Trade” and “Options Chains” tabs. The trade verification screen displays all of your trading expenses, including exchange fees, which is a great feature that guarantees complete cost transparency. In addition to a screen-top marquee that shows your watchlist tickers or open position information, you’ll find streaming real-time quotations and news. The platform includes conditional orders, such like one (OCO) and one-triggers-the-other (OTO) orders, as well as chart trading and trailing stops. Orders cannot be staged for later entry, though.
The company provides access to the eOption Trader, Sterling Trader Pro, DAS|WEB, and DAS|Pro Immediate Access Trading platforms. These are all intended for high-frequency traders, and additional access charges might be necessary.
Fees:
$0.00 commissions for stocks and ETFs offered on IBKR’s TWS Light, or minimal fees scaled by activity for active traders desiring access to cutting-edge features like order routing. Options on TWS Light are $0.65 per contract; TWS Pro customers pay a base charge of $0.65 per contract with scaling prices dependent on volume. Futures contracts cost $0.85 each.