My opinion on Interactive Brokers
Interactive Brokers is a globally recognized brokerage established in 1978, now serving over 1.75 million clients worldwide—including a significant Canadian clientele—with robust regulation by CIRO (formerly IIROC), CIPF, and multiple international authorities. With a commission-based fee model offering ultra-low trading costs (for example, FX from 0.1 pips plus minimal commission, and Canadian stocks from $0.01/share), a vast array of tradable assets (10,000+ including stocks, ETFs, options, futures, forex, and direct crypto trading), and advanced platforms like the Trader Workstation (TWS), Interactive Brokers scores highly for asset variety and professional-grade tools. The absence of inactivity fees, registered account options (TFSA, RRSP, RESP), and highly responsive bilingual support further enhance its appeal. However, the learning curve and platform complexity—especially on TWS—may be challenging for beginners, and features like copy trading and swap-free (Islamic) accounts are lacking. With a Trustpilot score of 3.6/5 drawn from 2,000+ reviews, Interactive Brokers positions itself above the competition in Canada by providing the lowest fees and most choice for advanced and cost-conscious active traders. According to my experience, Interactive Brokers is best suited for the following types of traders: ➡️ Beginner investors seeking long-term growth who want low-cost, direct access to global markets and registered account support like TFSA or RRSP. ➡️ Active and intermediate traders who value tight spreads, strong regulation, and professional, advanced tools supplemented by customizable research capabilities. ➡️ Advanced or institutional clients needing wide asset coverage, API or algorithmic trading access, premium execution, and efficiency in managing large or multi-asset portfolios.
- ✅Commission-based pricing with some of the lowest spreads and fees available in Canada
- ✅Access to 10,000+ assets across 150+ markets: stocks, ETFs, options, futures, forex, bonds, mutual funds, and direct crypto trading (via Paxos)
- ✅No minimum deposit for most account types; margin trading available with a $2,000 CAD minimum
- ✅Registered account support: TFSA, RRSP, RESP, and more
- ✅Powerful, advanced trading platforms (Trader Workstation, Web Client Portal, IBKR Mobile, IBKR APIs)
- ✅Availability of unlimited demo (paper trading) accounts for funded users
- ✅Highly regulated (CIRO/IIROC, CIPF, international licenses) and robust client asset protection
- ✅No inactivity or maintenance fees for Canadian clients
- ✅Responsive, bilingual (English/French) customer support and direct phone/chat access
- ✅Comprehensive order types and advanced features for research, risk management, and algorithmic trading
- ❌Complexity and steep learning curve for new or casual traders, especially on TWS desktop
- ❌No copy trading, social trading, or swap-free (Islamic) accounts for Canadians
- ❌Direct crypto offering is limited (8+ coins, no staking, no lending, no personal crypto wallet; custody handled by Paxos)
- ❌No commodity CFDs and no leverage on direct crypto trading
- ❌Stock and ETF CFDs not available to Canadian residents
- ❌Some features (e.g., advanced order routing, certain international markets) may incur extra or variable fees
- ❌Paper trading requires a funded account to access
- ❌Withdrawal fees after the first free withdrawal per month ($2 CAD per additional withdrawal)
- ❌Account verification process may be slow or require substantial documentation
Score- ✅Commission-based pricing with some of the lowest spreads and fees available in Canada
- ✅Access to 10,000+ assets across 150+ markets: stocks, ETFs, options, futures, forex, bonds, mutual funds, and direct crypto trading (via Paxos)
- ✅No minimum deposit for most account types; margin trading available with a $2,000 CAD minimum
- ✅Registered account support: TFSA, RRSP, RESP, and more
- ✅Powerful, advanced trading platforms (Trader Workstation, Web Client Portal, IBKR Mobile, IBKR APIs)
- ✅Availability of unlimited demo (paper trading) accounts for funded users
- ✅Highly regulated (CIRO/IIROC, CIPF, international licenses) and robust client asset protection
- ✅No inactivity or maintenance fees for Canadian clients
- ✅Responsive, bilingual (English/French) customer support and direct phone/chat access
- ✅Comprehensive order types and advanced features for research, risk management, and algorithmic trading
My opinion on Interactive Brokers
- ✅Commission-based pricing with some of the lowest spreads and fees available in Canada
- ✅Access to 10,000+ assets across 150+ markets: stocks, ETFs, options, futures, forex, bonds, mutual funds, and direct crypto trading (via Paxos)
- ✅No minimum deposit for most account types; margin trading available with a $2,000 CAD minimum
- ✅Registered account support: TFSA, RRSP, RESP, and more
- ✅Powerful, advanced trading platforms (Trader Workstation, Web Client Portal, IBKR Mobile, IBKR APIs)
- ✅Availability of unlimited demo (paper trading) accounts for funded users
- ✅Highly regulated (CIRO/IIROC, CIPF, international licenses) and robust client asset protection
- ✅No inactivity or maintenance fees for Canadian clients
- ✅Responsive, bilingual (English/French) customer support and direct phone/chat access
- ✅Comprehensive order types and advanced features for research, risk management, and algorithmic trading
- ❌Complexity and steep learning curve for new or casual traders, especially on TWS desktop
- ❌No copy trading, social trading, or swap-free (Islamic) accounts for Canadians
- ❌Direct crypto offering is limited (8+ coins, no staking, no lending, no personal crypto wallet; custody handled by Paxos)
- ❌No commodity CFDs and no leverage on direct crypto trading
- ❌Stock and ETF CFDs not available to Canadian residents
- ❌Some features (e.g., advanced order routing, certain international markets) may incur extra or variable fees
- ❌Paper trading requires a funded account to access
- ❌Withdrawal fees after the first free withdrawal per month ($2 CAD per additional withdrawal)
- ❌Account verification process may be slow or require substantial documentation
Score- ✅Commission-based pricing with some of the lowest spreads and fees available in Canada
- ✅Access to 10,000+ assets across 150+ markets: stocks, ETFs, options, futures, forex, bonds, mutual funds, and direct crypto trading (via Paxos)
- ✅No minimum deposit for most account types; margin trading available with a $2,000 CAD minimum
- ✅Registered account support: TFSA, RRSP, RESP, and more
- ✅Powerful, advanced trading platforms (Trader Workstation, Web Client Portal, IBKR Mobile, IBKR APIs)
- ✅Availability of unlimited demo (paper trading) accounts for funded users
- ✅Highly regulated (CIRO/IIROC, CIPF, international licenses) and robust client asset protection
- ✅No inactivity or maintenance fees for Canadian clients
- ✅Responsive, bilingual (English/French) customer support and direct phone/chat access
- ✅Comprehensive order types and advanced features for research, risk management, and algorithmic trading
Why trust Hellosafe?
I spent significant time opening and funding an account with Interactive Brokers, putting its platforms—Trader Workstation (TWS), Client Portal, and mobile app—through real-world use. I executed trades in stocks, ETFs, forex, and even tested out their direct crypto offering, making note of the fee structure, platform speed, order types, and general usability. I also reached out to customer service with actual questions to see how efficiently and effectively they respond in both routine and more complex scenarios.
My personal impression is that Interactive Brokers is exceptionally reliable for Canadian investors who want the widest market access, advanced tools, and professional-grade costs. The trade-off, though, is the platform’s complexity—there’s a noticeable learning curve if you’re new or only need basic investing features. I found the fee model to be transparent and extremely competitive, and the demo (paper trading) environment is invaluable for hands-on learning, though you do need a funded account to access it. Compared to other regulated stockbrokers, CFD, and crypto platforms, Interactive Brokers delivers unmatched choice and cost-efficiency, though it may not be the best fit for absolute beginners.
Everything I share here is based on my own practical experience, not just what’s written in guides. I’ve used other major Canadian brokers and global platforms, so my review factors in not only what Interactive Brokers claims, but how it performs against real alternatives in Canada.
Interactive Brokers at a glance
| Fonctionnalité | Détail |
|---|---|
| 💰 Minimum deposit | $0 (most accounts); $2,000 CAD (required for margin accounts) |
| 🛡️ Regulation | IIROC, CIPF member, OSC, global licenses (SEC, FCA, ASIC, SFC, MAS, etc.) |
| 🪙 Crypto license | Direct crypto trading via Paxos partnership (regulated, selection limited) |
| 📝 FSMA registration | Not applicable (no European FSMA for Canadian users) |
| 📈 Available assets | 10,000+ stocks & ETFs, 100+ forex pairs, 30+ commodities, options, futures, bonds, mutual funds, 8+ cryptos |
| 📊 Trading platforms | Trader Workstation (desktop), Client Portal (web), IBKR Mobile, IBKR GlobalTrader, IBKR APIs |
| 🛠️ Trading tools | Advanced charting, algo trading, portfolio analysis, risk tools, real-time screeners, comprehensive order types |
| 🧪 Demo account | Yes (paper trading with $1,000,000 USD virtual funds; requires funded account) |
| ☪️ Islamic account | Not available |
| 🔑 Key order types | Market, Limit, Stop, Stop-Limit, Trailing Stop, OCO, Conditional, Bracket, Iceberg, Good-‘til-Cancelled (GTC), more |
| ⚡ Leverage | Up to 2:1 for stocks, up to 40:1 forex (varies by asset and regulation) |
| 💸 Fees | Stocks/ETFs from $0.01/share (min $1 CAD), forex from 0.2 bps + spread, 0.12% crypto, no inactivity, free monthly withdrawal |
| 📞 Customer support | Phone, email, live chat, secure message (24h Mon–Fri global; 8am–8pm ET Canadian support, EN/FR) |
| 🌟 Trustpilot reviews | 3.6 / 5 (2,000+ reviews, as of July 2025) |
Security & Regulation
Interactive Brokers is among the most robust and globally recognized brokers for Canadian investors seeking security and reliability. The firm is regulated by IIROC, the OSC, and other provincial authorities in Canada, while simultaneously holding licenses with some of the world’s strictest tier-1 regulators, including the SEC, FCA, ASIC, and more—this globally layered compliance structure is a key trust factor for me. Investor accounts are protected by the Canadian Investor Protection Fund (CIPF), and client assets are always segregated from IBKR’s own capital, aligning with global industry best practices.
For fund security, Interactive Brokers employs state-of-the-art risk controls and ensures that money and securities are strictly separated, including in the case of multiple asset classes. The direct crypto functionality leverages third-party providers (Paxos), keeping digital asset risk distinct from traditional brokerage services. This separation of custody responsibilities further enhances overall protection.
Risk management is sophisticated: the platform features an extensive suite of order types, powerful margin and exposure controls, immediate stop loss execution, and two-factor authentication. Negative balance protection is available on spot forex and some cash accounts, but not universally on leveraged products. While the advanced platforms and tools are a huge strength for professionals, they may challenge beginner traders without prior experience.
Interactive Brokers enjoys an excellent reputation, backed by over four decades of continuous operation, technological innovation, and access to virtually all global markets. User reviews confirm its stability and breadth, though the complexity of the interface and onboarding may be intimidating to some. Overall, I consider Interactive Brokers an outstandingly secure and credible choice, especially for experienced investors in Canada.
| Indicator | Description | Evaluation |
|---|---|---|
| Regulatory compliance | IIROC, CIPF, OSC, major global regulators (SEC, FCA, ASIC, SFC, etc.), among the world’s strictest oversight | 5/5 |
| Fund security | Complete segregation of assets, CIPF protection, strong protocols, third-party custody for crypto | 5/5 |
| Risk management tools | 2FA, advanced margin controls, many order types, stop loss, negative balance protection only in limited scenarios | 4.5/5 |
| Notoriety and coverage | Decades-long global track record, large user base, 3.6/5 Trustpilot rating, leading brand among active investors | 5/5 |
Fees, Spreads & Commissions
Interactive Brokers offers what I consider the industry’s most cost-efficient trading environment for Canadian investors who require global access and advanced functionality. Equity and ETF commissions start as low as $0.01 per share (minimum $1 USD per order), and forex trading is billed on a transparent, commission-based system with variable, institution-grade spreads. This means that even for lower-volume clients, trading costs remain consistently lower than the flat-fee models of most Canadian bank brokerages. I appreciate that there is no account opening or maintenance fee, and no inactivity charge—a benefit for passive investors and occasional traders alike.
Beyond core trading commissions, currency conversion fees are highly competitive. Interactive Brokers offers rates at approximately 0.2% above the interbank rate, making this platform one of the least expensive for those converting CAD to USD or trading internationally. This is a standout feature when compared to the 1–2% FX markups charged by Canadian retail banks and mainstream brokers. The withdrawal policy is also reasonable: one free withdrawal per month (by wire or EFT), with a nominal $2 USD fee thereafter.
Crypto trading on Interactive Brokers is possible through a partnership with Paxos and is regulated in a similarly transparent fashion. The commission is just 0.12% of the trade value (minimum $1.75 USD), with tight bid-ask spreads relative to most retail crypto platforms. There are no overnight funding or custody fees for holding crypto on the platform, and assets are held with Paxos. For highly cost-aware crypto investors who want regulatory protection, IBKR is much more efficient than most Canadian or offshore competitors—although no leverage or staking options exist.
One of the platform’s main strengths is its absence of hidden costs: no inactivity fees, zero account maintenance charges, and straightforward disclosed commissions. While the platform is not the most intuitive for beginners, its fee structure makes it exceptionally attractive to both regular and institutional-size traders who value low costs, global reach, and transparency in pricing.
What are the account-related fees?
| Fee Type | Conditions at Interactive Brokers | Market Average |
|---|---|---|
| Opening fee | $0 | $0–$50 |
| Maintenance fee | $0 | $0–$100/year |
| Withdrawal fee | 1 free/month, then $2 per withdrawal | $0–$10 |
| Inactivity fee | $0 | $0–$25/quarter |
| Currency conversion fee | 0.2% per conversion | 1%–2% |
Trader Tip Trip:
Plan your capital movements to make use of the one free withdrawal per month, and batch currency conversions whenever possible to maximize savings from IBKR’s very tight FX spread, especially if you trade US markets or international securities frequently.
What are the fees on stocks and ETFs?
Trading stocks and ETFs through Interactive Brokers is extremely cost-efficient for Canadian users. Commissions start at $0.01 per share (min. $1 USD/order), with no custody or maintenance fees for most self-directed accounts. The absence of platform surcharges and tight bid-ask spreads—particularly on North American exchanges—mean that total costs remain among the lowest globally. There are no overnight or annual custody fees, and UK stamp duty only applies to UK-listed shares.
| Fee Type | Conditions at Interactive Brokers | Market Average |
|---|---|---|
| Commission | $0.01/share (min. $1 USD/order) | $5–$10/trade |
| Spread fee | None explicit (market spread only) | $0.01–$0.03/share |
| Overnight fee | $0 (cash settlement) | $0 |
| Custody fee | $0 (self-directed accounts) | $0–$25/year |
| UK stamp duty tax | 0.5% (on UK share purchases only) | 0.5% (where relevant) |
What are the fees on cryptocurrencies?
Crypto trading via Interactive Brokers—enabled through Paxos—is among the cheapest for self-directed Canadian investors. The commission is just 0.12% of each trade (minimum $1.75 USD per order), lower than practically any major crypto platform in Canada. There are no spread markups, overnight, or custody fees. You may face a small withdrawal fee depending on the underlying blockchain, but IBKR itself doesn’t tack on extra charges beyond the exchange commission.
| Fee Type | Conditions at Interactive Brokers | Market Average (crypto or CFD brokers) |
|---|---|---|
| Buy/sell fees | 0.12% per trade (min $1.75 USD) | 0.2–2% |
| Spread fees | No markup (uses market price) | 0.1–1% |
| Overnight fees | $0 (no leverage or CFD) | 0–0.1%/day (CFD) |
| Custody fees | $0 (assets held via Paxos) | $0–$25/year or % of holdings |
| Transfer fees | $0 for fiat withdrawals, network fee for crypto | $0–$5/network fee |
Assets & Markets
Interactive Brokers distinguishes itself through its sheer breadth and global coverage of tradeable asset classes. I value the flexibility to invest in or trade more than 13,000 equities, ranging from major North American exchanges to international markets in Europe, Asia, and beyond. The availability of both spot stocks and ETFs ensures efficient access to diversified investment themes, while the inclusion of options, warrants, and futures expands the risk management and strategy toolkit for advanced users.
For currencies, Interactive Brokers provides access to over 100 forex pairs, offering institutional-grade pricing, deep liquidity, and some of the tightest spreads in the industry. Commodities traders, too, will find robust choices, with direct and derivative exposure through futures, spot metals, and ETPs/ETFs. The ability to trade on more than 100 global indices via index futures and options gives tactical investors flexibility rarely matched by domestic Canadian platforms.
Cryptocurrency access, although still developing compared to pure crypto exchanges, is available through direct trading (facilitated by Paxos) and via regulated ETPs/ETFs. This is significant for those seeking digital asset diversification within a regulated brokerage environment, but token selection remains narrower than top crypto-native competitors, and neither staking nor lending is supported.
Fixed income is a further strength, with thousands of government, municipal, and corporate bonds available for direct investment. The vast mutual fund supermarket (over 48,000 funds) enables further portfolio customization. Where the platform is less versatile is in the absence of some niche digital assets (such as NFTs or stablecoin-specific markets), and direct crypto CFDs are not offered to Canadian residents.
Interactive Brokers is especially attractive for active, globally oriented investors, quant traders, and those demanding advanced analytics. The learning curve can be steep due to the complexity and wide feature set, but the overall market reach and low costs are unmatched for Canadian residents seeking institutional-level access under local regulation.
| Asset Class | Type | Number at Interactive Brokers | Market Average | Example Assets |
|---|---|---|---|---|
| Stocks | Spot | 13,000+ | 5,000–10,000 | Royal Bank (RY), Apple (AAPL), Samsung |
| ETFs | Spot | 1,000+ | 500–2,000 | iShares S&P 500, Vanguard FTSE Global |
| Cryptocurrencies | Spot (via Paxos) | 8+ | 10–200 | Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) |
| Currencies | Spot (FX) | 100+ | 30–100 | USD/CAD, EUR/USD, GBP/JPY |
| Commodities | Futures, spot, ETPs/ETFs | 30+ | 10–40 | Gold future, WTI Crude Oil, GLD ETF |
| Indices | Derivatives, ETFs | 100+ | 15–50 | S&P 500 futures, Nikkei 225 ETF, DAX future |
| Bonds | Spot | 1,000+ | 100–500 | Canada Govt Bond, Apple Inc. Corp Bond |
| Stablecoins | Not available | 0 | 2–10 | — |
| NFTs | Not available | 0 | 10–30 | — |
| Other derivatives | Options, futures, warrants | 10,000+ | 100–1,000 | TSX options, E-mini S&P 500 future, Apple warrant |
Trading Tools and Apps
Interactive Brokers is recognized for offering a platform environment that caters to the most demanding and globally oriented investors and traders. The flagship Trader Workstation (TWS) stands out with a deep, feature-rich desktop experience: advanced charting, comprehensive order types, integrated risk tools, and a powerful suite for multi-asset and multi-leg strategies. While TWS is second to none for data depth and customization, its complexity introduces a steeper learning curve, making it best suited for those who require high precision and breadth rather than absolute simplicity.
The Client Portal and IBKR Mobile provide much of the same robust functionality in more accessible packages. The Client Portal (web-based) lays out positions, research, order entry, and account tools in a clear, modular interface, simplifying daily trading tasks without sacrificing essential analytics. IBKR Mobile manages a remarkable balance between power and usability, supporting quick monitoring, full order entry, mobile charting, and secure biometric access for traders and investors on the move.
Order management on Interactive Brokers is a major differentiator. There’s support for sophisticated commands: market, limit, stop, stop-limit, trailing stop, bracket, OCO, and algorithmic execution options like VWAP, adaptive, and iceberg orders. These tools enable granular risk management and flexible execution for both equities and derivatives. The platform provides extensive real-time charting, hundreds of built-in indicators, custom studies, and market scanners. However, professional-grade scripting via IBKR APIs unlocks automation and advanced systematic trading, outpacing what is available through typical plug-and-play solutions.
For automation, Interactive Brokers’ ecosystem accepts powerful API integrations (REST, FIX, even Python), allowing coders to deploy, test, and adapt scripts for trading strategies in real time. While MetaTrader and TradingView are not natively supported, the ecosystem presents similar or superior capabilities through TWS and supported APIs. Copy trading and social trading are not available, but TWS and Client Portal are suitable for all asset classes offered, and crypto trading is provided (via Paxos partnership) with the same attention to regulatory compliance and transparency.
Negative balance protection is not guaranteed for all leveraged positions, as Canadian IIROC rules and brokerage practices dictate strict but not always capped downside risk—advanced users must exercise careful risk management, particularly with margin products.
Asset search and filters are deep and customizable. Stocks, ETFs, options, futures, bonds, and crypto are all easily discoverable by watchlists or custom screens, but those seeking user-friendly simplicity may prefer the mobile or web platform. Cryptocurrency trading is supported for major coins, but staking and yield features are absent; crypto custody remains with trusted third-parties.
| Feature | Verified Details |
|---|---|
| Mobile app | IBKR Mobile (iOS/Android); no MetaTrader, TradingView, or external crypto wallet |
| Usability | Advanced (TWS: technical, highly customizable); Client Portal and IBKR Mobile: fluid, more accessible |
| Compatible software | Proprietary platforms (TWS, Client Portal, GlobalTrader, IBKR Mobile); extensive API support; no native MT4/5 or TV |
| Order types | Market, limit, stop-loss, stop-limit, trailing stop, OCO, bracket, conditional, iceberg, algo-execution |
| Charting and technical analysis | 100+ built-in indicators, advanced multi-asset charting, custom studies and real-time analytics |
| Auto trading / Automated strategies | Fully supported through APIs (REST, Python, FIX); no built-in copy trading; third-party bots via API |
| Algorithmic trading | Coded strategies enabled (APIs); professional platform for systematic and AI trading |
| Negative balance protection | Not guaranteed for all positions or products; strict margin calls per IIROC rules |
| Trading signals | Custom scan tools, alerts, research integration; no native social/copy signals or external TV signal integration |
| Asset search and filters | Robust multi-asset screening, watchlists, customizable filters for global stocks, forex, options, crypto |
| Spot stock purchase | Direct spot purchase of equities and ETFs for global markets; CFDs not available to Canadian residents |
| Staking and earn | Not available for crypto assets |
Trader Tip
New users should start with Paper Trading (demo mode) on Trader Workstation to practice complex order workflows, screen layouts, and asset classes before risking capital. Make full use of built-in alerting and conditional orders to manage exposure, and always enable two-factor authentication for both mobile and desktop access.
Account Opening and Deposits
Account opening
Opening an account with Interactive Brokers is a fully online process designed for efficiency but requires careful attention to documentation. Start by registering with your personal information through the Interactive Brokers website. You’ll be guided through a multi-section application: choose your account type (individual, joint, registered, margin, or more), and provide details about your financial background and investing experience. To meet regulatory requirements, you’ll answer a questionnaire regarding your investment objectives and risk tolerance. Next, upload KYC documents, typically a government-issued photo ID, proof of address (utility bill or bank statement), and your SIN for tax purposes. For corporate accounts, supplementary business documents will be required. Once all information is submitted, your application is reviewed—this can take from several hours to a couple of business days, depending on the volume and verification complexity. You will receive a confirmation email upon approval, after which you can fund your account and access IBKR’s trading platforms.
Good to know
Pick your base currency (CAD or USD) carefully during registration. It determines your reporting currency and can help avoid unnecessary conversion costs, especially if trading US assets.
| Item | Details |
|---|---|
| Opening procedure | Online application, KYC regulatory questionnaire, upload ID, proof of address, SIN |
| Validation time | Several hours to 2 business days |
| Accepted deposit methods | EFT (bank), wire transfer, bill payment, cheque |
| Minimum required deposit | $0 (most accounts); $2,000 CAD for margin accounts |
| Required documents | Government-issued ID, proof of address, SIN; extra documents for business accounts |
| Practical tip | Double-check document clarity and completeness to avoid processing delays |
Deposits and withdrawals on Interactive Brokers
Deposits to Interactive Brokers accounts can be initiated via electronic funds transfer (EFT), bank wire, bill payment from your Canadian bank, or by mailing a cheque. Most methods support both CAD and USD with no IBKR-imposed fees and are typically credited in 1–2 business days. There is no minimum deposit for standard accounts (margin accounts require $2,000 CAD). Withdrawals are available via EFT or bank wire; you get one free withdrawal per calendar month (then $2 CAD per transaction). Withdrawals are usually processed within 1–2 business days. Credit cards and e-wallets are not supported, and while Interactive Brokers allows direct crypto trading via partnership with Paxos, all deposits and withdrawals are in fiat only—there is no crypto or stablecoin transfer capability and no integrated crypto wallet.
Good to know
Check that your withdrawal currency matches your receiving bank account to avoid unwanted conversion charges. Also, track your free monthly withdrawal to minimize fees.
| Payment method | Accepted currencies | Minimum amount | Processing time | Possible fees |
|---|---|---|---|---|
| Credit card | Not supported | – | – | – |
| Bank transfer (EFT, wire) | CAD, USD | $0 (standard) / $2,000 (margin) | 1–2 business days | First per month free, then $2 CAD per withdrawal (wire/EFT) |
| E-wallets | Not supported | – | – | – |
| Stablecoins or cryptos | Not supported* | – | – | – |
| Other local options | Bill payment, cheque (CAD, USD) | $0 | 1–5 business days | None |
Account Types
Interactive Brokers is a global multi-asset platform, serving as both a top-tier CFD/Forex broker and a direct-access securities provider for Canadian users. It supports personal, joint, business, institutional, and all major Canadian registered accounts (TFSA, RRSP, RESP). Interactive Brokers offers paper (demo) trading, standard and professional accounts, and excels with its Raw ECN/STP-like execution and deep liquidity for active traders. While it provides access to stocks, options, forex, futures, and crypto (via partnership), there are no Islamic (swap-free) or staking/cold storage crypto accounts. This platform is best suited for experienced traders, active investors, and institutions seeking low fees, global access, and sophisticated tools.
| Account Type | Available | Main Features |
|---|---|---|
| Demo account | ✅ | Paper trading available—practice with $1M virtual funds (requires a funded account) |
| Standard account | ✅ | Individual, joint, corporate, and registered accounts; access to stocks, ETFs, forex, and more |
| Raw ECN account | ✅ | True direct market access, tight spreads, commission-based; ideal for active/algorithmic traders |
| Islamic account | ❌ | Not offered; no swap-free or Sharia-compliant option for Canadians |
| Professional account | ✅ | Institutional, advisor, and proprietary trading group accounts |
| CFD account | ✅ | Offered globally, but not available to Canadian residents; extensive CFD markets elsewhere |
| Classic securities account | ✅ | Canadian and US stocks, ETFs, mutual funds, bonds, and options |
| Staking/earn account | ❌ | Not available; no crypto staking/yield-generating features |
| Cold storage account | ❌ | Not offered; crypto held via partners (Paxos), no on-platform wallet or cold storage |
| Tax-advantaged account | ✅ | TFSA, RRSP, RESP, RRIF, LIRA, LIF for registered/tax-advantaged investing in Canada |
| Accepted base currencies | ✅ | 24+ base currencies including CAD, USD, EUR, GBP, JPY, etc. |
Tip
If you’re an active or professional trader, take full advantage of Interactive Brokers’ Raw ECN/principal spread model and sophisticated order types—this can significantly reduce costs and improve execution. Always start with a paper trading account to learn the platform’s tools before funding a live account.
Interactive Brokers compared to its competitors
How does Interactive Brokers compare to competitors?
| Feature | Interactive Brokers | Oanda | FXCM (via Friedberg Direct) | Webull |
|---|---|---|---|---|
| Minimum deposit | $0 CAD | $5,000 CAD | $0 CAD | |
| Number of instruments | 100+ (Forex, CFDs, Crypto CFDs) | Forex, Stock CFDs, Index CFDs, Commodity CFDs | US & Canadian Stocks, ETFs, US Options, OTCs | |
| Spreads (examples) | Forex: from 1.4 pips (EUR/USD); no commissions | Forex: from $0.14 round turn per 10k lot; variable | Stocks: $2.99/trade (commissions); no FX/CFD | |
| Trading platforms | OANDA Trade, MT4 | Trading Station, MT4 | Proprietary Platform (Web, Mobile, Desktop) | |
| Regulation | CIRO (formerly IIROC), CIPF | CIRO (via Friedberg Mercantile Group Ltd.) | CIRO, CIPF | |
| Demo account | ✅ | ✅ | ✅ | ✅ |
| Copy trading | ❌ | ❌ | ❌ | ❌ |
| Read the review | Read the review Oanda | Read the review FXCM (via Friedberg Direct) | Read the review Webull |
Customer reviews
Interactive Brokers currently has a Trustpilot rating of 3.6 out of 5, based on over 2,000 reviews.
Les utilisateurs mettent en avant plusieurs aspects positifs de la plateforme, notamment :
- Exceptionally low commissions and transparent pricing
- Access to more than 150 global markets and a vast range of assets
- Powerful trading tools, advanced order types, and algorithmic trading support
- Reliable trade execution and deep research resources
En revanche, plusieurs points négatifs sont régulièrement évoqués dans les avis :
- Complex and sometimes intimidating interface, especially for beginners
- Lengthy or complicated account opening and verification processes
- Occasional delays in customer support or follow-up
- Learning curve associated with the Trader Workstation and mobile apps
Voici quelques exemples représentatifs d’avis publiés sur Trustpilot :
_T.R. – 07/03/2025 : “IBKR offers the lowest commissions I’ve found, and the platform is very powerful, but it can be overwhelming for beginners.”_
_L.K. – 18/05/2025 : “Customer service is responsive, but the account verification process took longer than expected.”_
_E.S. – 21/06/2025 : “Great for active traders and investors who want access to global markets, but the interface could be more user-friendly.”_
FAQ
Is Interactive Brokers regulated in CA?
Interactive Brokers is fully regulated in Canada through IIROC (Investment Industry Regulatory Organization of Canada) and is a member of the Canadian Investor Protection Fund (CIPF), ensuring client asset protection and regulatory compliance for Canadian residents.
What is the minimum deposit on Interactive Brokers?
Most account types, including standard investment, TFSA, or RRSP accounts, have no minimum deposit requirement. However, margin accounts require a minimum deposit of $2,000 CAD to access borrowing and leveraged trading features.
Does Interactive Brokers offer a welcome bonus?
Interactive Brokers does not typically offer a welcome bonus or sign-up incentive for new Canadian clients. Promotional incentives are rare and not a core part of their business model, focusing instead on offering low fees and advanced trading tools.
How does leverage work on Interactive Brokers?
Leverage with Interactive Brokers depends on the asset class and account type. For stocks, Canadian users can access up to 2:1 leverage, subject to IIROC rules. Forex trading can reach up to 40:1, but leverage levels vary according to regulatory constraints and user eligibility.
How does Interactive Brokers make money?
Interactive Brokers earns revenue from trading commissions, spreads, interest on margin balances, and currency conversion fees. Their transparent pricing model is designed to keep costs low for active traders while also providing institutional-grade trading infrastructure.
Who is behind Interactive Brokers?
Interactive Brokers was founded by Thomas Peterffy in 1978 and remains a major publicly traded company (NASDAQ: IBKR). The firm is led by an experienced management team and operates globally with a strong reputation in online trading.
When was Interactive Brokers launched?
Interactive Brokers was officially launched in 1978, evolving from a pioneering market-making firm to one of the world’s largest electronic brokerage platforms, with Canadian operations established to serve local and global investors.
Does Interactive Brokers offer copy trading or social trading?
Copy trading and social trading features are not available to Canadian retail clients with Interactive Brokers. Trading decisions must be made directly by each individual account holder, although advanced trading automation is possible through their APIs.
How can I contact Interactive Brokers’s customer service?
Canadian clients can contact Interactive Brokers customer service by toll-free phone, secure message via the client portal, live chat, or email. Support is available 24 hours from Monday to Friday, with dedicated local service in English and French during Canadian business hours.
Does Interactive Brokers offer any promotions or referral programs?
Interactive Brokers occasionally runs referral programs, allowing existing clients to invite friends and earn incentives. However, these promotions may be limited in scope and availability, so it is best to consult the official website or client portal for current offers.
Is Interactive Brokers regulated in CA?
Interactive Brokers is fully regulated in Canada through IIROC (Investment Industry Regulatory Organization of Canada) and is a member of the Canadian Investor Protection Fund (CIPF), ensuring client asset protection and regulatory compliance for Canadian residents.
What is the minimum deposit on Interactive Brokers?
Most account types, including standard investment, TFSA, or RRSP accounts, have no minimum deposit requirement. However, margin accounts require a minimum deposit of $2,000 CAD to access borrowing and leveraged trading features.
Does Interactive Brokers offer a welcome bonus?
Interactive Brokers does not typically offer a welcome bonus or sign-up incentive for new Canadian clients. Promotional incentives are rare and not a core part of their business model, focusing instead on offering low fees and advanced trading tools.
How does leverage work on Interactive Brokers?
Leverage with Interactive Brokers depends on the asset class and account type. For stocks, Canadian users can access up to 2:1 leverage, subject to IIROC rules. Forex trading can reach up to 40:1, but leverage levels vary according to regulatory constraints and user eligibility.
How does Interactive Brokers make money?
Interactive Brokers earns revenue from trading commissions, spreads, interest on margin balances, and currency conversion fees. Their transparent pricing model is designed to keep costs low for active traders while also providing institutional-grade trading infrastructure.
Who is behind Interactive Brokers?
Interactive Brokers was founded by Thomas Peterffy in 1978 and remains a major publicly traded company (NASDAQ: IBKR). The firm is led by an experienced management team and operates globally with a strong reputation in online trading.
When was Interactive Brokers launched?
Interactive Brokers was officially launched in 1978, evolving from a pioneering market-making firm to one of the world’s largest electronic brokerage platforms, with Canadian operations established to serve local and global investors.
Does Interactive Brokers offer copy trading or social trading?
Copy trading and social trading features are not available to Canadian retail clients with Interactive Brokers. Trading decisions must be made directly by each individual account holder, although advanced trading automation is possible through their APIs.
How can I contact Interactive Brokers’s customer service?
Canadian clients can contact Interactive Brokers customer service by toll-free phone, secure message via the client portal, live chat, or email. Support is available 24 hours from Monday to Friday, with dedicated local service in English and French during Canadian business hours.
Does Interactive Brokers offer any promotions or referral programs?
Interactive Brokers occasionally runs referral programs, allowing existing clients to invite friends and earn incentives. However, these promotions may be limited in scope and availability, so it is best to consult the official website or client portal for current offers.
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