Interactive Brokers earned the top spot in our listing thanks to its powerful Trader Workstation platform, easy access to a vast selection of global markets and rock-bottom trading commissions. These features and more make Interactive Brokers the preferred trading platform for professionals at hedge funds and investment firms.
In our research, we found that Interactive Brokers stood out by charging substantially lower fees than its rivals in several areas. It’s IBKR Pro tiered pricing plan offers better rates for direct access trading than other leading trading platforms for professionals. We also noted lower commissions for futures trading, and the lowest margin rates among the platforms we surveyed.
Note that $0 stock commissions are available on Interactive Brokers’s IBKR Lite platform for non-professional traders.
We were impressed by the flagship Trader WorkStation platform and the quality of order execution. Trader WorkStation offers highly customizable alerts, watchlists and sophisticated charting. It features advanced order types. Traders can stay on top of the news with the latest reports from Reuters, Dow Jones and a variety of other sources on the platform.
Trader WorkStation includes essential features for day traders, such as hot keys, which allow traders to rapidly place preset orders with the stroke of a single key. Traders also have access to Level 2 quotes, which show the best bid and ask prices from each market participant. Time and sales data, sometimes…