Interactive Brokers Review Canada

Posted by seomypassion12 on March 23rd, 2023

Interactive Brokers is an international broker that offers clients a full range of markets including stocks, options, futures, forex and bonds. It also provides its services through a variety of entities around the world, each regulated within their own jurisdictions.

IBKR is a well-established company that has been offering services in over 135 investment markets and 33 countries since 1978. It is a member of the Investment Industry Regulatory Organization of Canada and the Canadian Investor Protection Fund.
Fees

Interactive Brokers Canada offers finxpd low FX fees and a wide variety of trading products for advanced investors. This online brokerage is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF), and it’s available in more than 200 countries and territories.

The platform is built for traders with a high-volume approach and comes with a tiered commission structure that declines as your volume increases. It’s best suited for active day trader and swing traders, but it also supports stock lending and margin purchases.

You can also make use of a wide range of research providers and news services, including Market Realist, 24/7 Wall Street, Dow Jones, Morningstar Equity Ownership and more. These provide you with a wealth of information to help you make informed trading decisions.

They also offer a wide range of educational materials and tools, such as videos, courses, webinars and a glossary. You can also sign up for a free demo account and try out their trading platforms before you open an actual account.

Although not a traditional bricks-and-mortar broker, it does have a great customer support team with phone, email and chat options available 24/7. You can contact the Interactive Brokers Canada team by calling or sending a secure message via the online chat interface.

One of the most important features of Interactive Brokers Canada is its low FX fees. The broker charges a minimum of USD 2 for each currency transaction, which is significantly cheaper than alternatives such as Sharesies or Hatch.

Another notable feature is its iBot artificial intelligence tool, which allows you to self-service your trading needs. This can save you time and money, especially if you’re new to trading.

iBot is designed to work on all mobile devices, and it’s a good way to stay up to date with market news, as well as your own trading. It also has a built-in calculator and trading journal.

If you want to use a desktop trading platform, Interactive Brokers has three choices: TWS Classic, TWS Mosaic and IBKR Pro. TWS Mosaic is a more comprehensive work space that makes it easy to access all your technical research tools in one place. Alternatively, TWS Classic offers a quicker way to place orders and interact with your watchlists and charts.
Trading platform

If you’re looking for an online brokerage that offers low fees and access to a wide range of trading tools, Interactive Brokers Canada (also known as IBKR) is a good choice. The platform features an advanced Trader Workstation and Client Portal that support trading all types of financial assets. It also has partnerships with leading research firms and offers free online trading education through its Traders’ Academy.

While a lot of the research tools and features are great, some people might find it hard to get started with IBKR’s platform. It can be overwhelming for new investors, and the Trader Workstation requires a considerable amount of time to master.

The Trader Workstation is an advanced desktop-based platform that’s best suited to experienced traders. It offers two workspace options: TWS Mosaic and Classic, along with a variety of charts and technical analysis tools. The company also has a wealth of tutorial videos that can help you become familiar with the platform.

Another good feature of the Trader Workstation is its ability to trade cryptocurrency. Currently, only Bitcoin, Bitcoin Cash, and Ethereum are supported, but the fee structure is highly competitive at 0.12% to 0.18% of trade value with no additional spreads or markups.

IBKR’s margin rates are among the lowest in the industry, and they offer both risk-based and rules-based margin models. Margin rates are designed to evaluate the risk in your portfolio and are based on two criteria: your account type and the security you’re trading.

Traders who want to trade responsibly can choose to use the Impact Dashboard that’s available on the Trader Workstation, Client Portal and mobile apps. This allows them to set personal investment criteria from 13 principles, including clean air and water, LGBTQ inclusion and gender equality.

In addition to the Impact Dashboard, Traders can also access a huge selection of research providers and news services through their client portal. These include Fundamentals Explorer, which provides fundamental data from Thomson Reuters and market reports from Zacks and Morningstar.
Customer service

Interactive Brokers Canada is one of the largest brokers in the world, offering its services in 135 markets worldwide. Its services include stocks, options, ETFs, currencies and bonds, all of which are available to clients from a single account. The company is regulated in several jurisdictions, including Canada and the US.

The quality of a brokerage’s customer service is determined by the speed and relevance of their response. They need to answer your questions in a timely manner and provide clear answers that help you understand what they are saying. Moreover, they should be available around the clock and not just on business days. In this respect, we compared the speed and relevance of their live chat, phone and email support.

If you’re looking for a Canadian online broker with a solid customer service, we recommend Questrade. They offer a simple, straightforward account opening process and excellent online chat support. However, their lack of pro features makes them less appealing to active traders. For these traders, IBKR Canada offers a good value. They are a great option for international investors who are looking for a reliable Canadian broker with an advanced trading platform.
Research tools

For investors looking for a one-stop shop, Interactive Brokers offers a comprehensive suite of research and trading tools that is sure to satisfy even the most sophisticated of trader. Their most comprehensive offering is TWS Mosaic, a workspace that allows users to place orders and perform advanced analysis in one fell swoop. A well-designed UI and a number of useful features make it an excellent choice for professional traders and newbies alike. It also has the distinction of being named the best overall stock trading platform by 2022 Finder. The most impressive is its ability to offer an extensive range of tradable securities, including stocks, futures, forex and options.