interactive brokers canada review

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Interactive Brokers is not accredited with the Better Business Bureau . Awful customer service. An absolute disgrace of customer service. Pro customers do have to pay commissions on U.S.-listed (and foreign-listed) stocks and ETFs. I really don't know why TP force you to give a one star as a minimum as Interative Brokers deserve a minus. By email? Check out this Interactive Brokers Review and see how you can buy stocks from around the world. If you are a casual investor, the IBKR Lite is a simpler version. Simple as that. After a week, they hadn't replied. All financial products, shopping products and services are presented without warranty. Interactive Brokers Review Summary It seems that a paradox has been discovered: Interactive Brokers is designed for professional-level traders, but IBKR Lite is designed for basic trading. opened an acoount. You have to wonder how many people work there in the first place. My account has been blocked since the beginning of the month, I can’t access Client Portal and customer support is nowhere to be found. I am very disappoint as a client . I can’t access it and can’t update any information. Posted by 2 years ago. have not been able to trade for a month. You can open several types of accounts with Interactive Brokers Canada that can cater to a variety of financial goals you may have: The type of account you open with the platform can vary depending on your investing goals. TWS provides you with access to several advanced research tools that seasoned traders love, like back-testing and scanning. Interactive Brokers Canada Review . The worst broker - DON'T JOIN THEM The worst broker experience I have ever encountered. It takes over 40 minutes to get in touch with customer service, and once you have, they make you hold the line and try to avoid responsibility. Advertising Disclosure This article/post contains references to products or services from one or more of our advertisers or partners. Related Topics. Instead I'm here, complaining about this absolute clown school of a platform. Last updated Jan 5, 2021. I have funded my accounts with my life savings over there few weeks ago and have try to make trades nothing works keep recieving error messages. Can't withdraw the funds myself either. I need my money out of there and my account to be closed. Interactive Brokers Canada has a relatively straightforward pricing system compared to other discount brokers. As of April 15, 2020, Interactive Brokers has over 20 complaints on its BBB page, all of which it has responded to. For US stocks, exchange-traded funds (ETFs), and warrants, the transaction fees are all passed through on stock sales. i initiated with ameritrade to have the securities transferred back to them but interactive has refused to this and has not responded to my requests to take care of this. On hold for hours. Accounts Offered by Interactive Brokers Canada, Interactive Brokers Canada Pricing and Fees, Interactive Brokers Canada Platform Ease of Use, Interactive Brokers Canada Customer Service, Alternatives to Interactive Brokers Canada, Interactive Brokers Canada vs. Wealthsimple Trade, iShares XBAL Review 2021: Balanced Growth All-In-One ETF Portfolio, Horizons HBAL Review 2021: Balanced All-In-One ETF Portfolio, Individual Account – Owned and used by one individual, Joint Account – Owned and used by two individuals, Trust – Account held by a Trustee as a separate legal entity for client’s benefit, Individual Retirement Account – IRA is only available to US clients, UGMA/UTMA – Account for minors only available to US clients, Friends and Family Account – An account for a client group of up to 15 people, Family Office Account – Account for an individual who is a Family Office Manager, Small Business Account – Account for small corporations and businesses, Advisor Account – Account for individuals who manage both client administration and money, Money Manager Account – Account for individuals hired on behalf of another advisor, Up to 300,000 shares per month $0.008 per share, 300,001 – 3,000,000 shares per month $0.005 per share, 3,000,001 – 20,000,000 shares per month $0.004 per share, 20,000,001 – 100,000,000 shares per month $0.003 per share. Canadastock.ca is commited to providing quality stock data and analysis to Canadian investors and those living abroad. Reputed for its competitive trading fees and commissions, the company operates in several countries, including the US, Hong Kong, Japan, India, UK, Switzerland, Estonia, Russia, China, Liechtenstein, and Canada. IB says we can contact them by phone, but that’s an impossible task. In the hands of a professional trader, Interactive Brokers Canada might have an edge due to its sophisticated research tools. That was surprisingly efficient. And the worst thing is that there is no other way to contact them. Interactive brokers. In my Interactive Brokers Canada review, I will take a look at the discount broker that has finally made it across the border from the US with its services available to Canadians. so i did not hesitate to open a margin account and transefer some securities over from ameritrade. Imagine the nightmare!!!! Interactive Brokers (IBKR) ranks very close to the top in our 2020 review due to its wealth of tools for sophisticated investors who are interested in tracking global investing trends. For its fixed rate, the charges are $0.01 per share with a minimum of $1 per order or 0.5% of trade value. Interactive Brokers Canada Review 2021: Global Market Trading Platform. Goodbye and good riddance as soon as I can transfer my money back out. i have had an existing ira count with IB for over a decade with no problems. two weeks later i still cant trade. Although it comes with a $50/year maintenance fee, the low trading fees will be attractive to many investors. You spend hours on an international call and no one picks up the phone. I found mostly positive reviews, while some users were disappointed. Total shitshow. They have the worst customer service in the whole world . Interactive Brokers AU - located in Australia, regulated by the Australian Securities and Investments Commission (ASIC). It also requires no minimum deposit while offering several types of accounts you can open. This com[pany holds its clients in comp[lete contempt. My advice, if you are a new trader or investor looking for a “home”, look elsewhere. Your email address will not be published. I spent literally 4 hours on the phone in the past last week trying to get hold of someone to solve my issue, but to no avail. 154 REVIEWS . The lower fees are offset by the incredible stress on realising that no one at IB will help you with your problem. 65% Upvoted. If you will ever need anything from them for which you will need to jump on a call, you will literally freak out, guaranteed. Edit: They also aggressively flag the reviews here, which forces Trustpilot to make you jump through hoops. , and Interactive got my pick for the best one for advanced traders. Is Interactive Brokers Canada (IBKR) Worth it for us Canadians? I've had the exact same experience as the previous two reviewers. Reaching to your support is like hard mission. After over a week, nothing had happened, so I sent support a message. I hope my review of the online broker will help you find out whether it’s worth your while. Chat not working , email not working , website full of bugs nothing responding. The company history started back in 1977 when Chairman Thomas Peterffy brought a seat on the American Stock Exchange (AMEX) and became a trading member as an individual market maker in equity options. Forever. BEWARE THIS COMPANY - DONT MAKE THE MISTAKE I DID, I have a deep and personal hatred for this company. Here’s what people have to say about this discount brokerage. Do not recommend. The problem is that Client Portal does not work. My suggestion is find another broker. You have loose a customer . For casual investors, I would recommend using a more straightforward platform. Interactive Brokers Canada review by top forex trading experts, all you need to know about InteractiveBrokers Canada INC or IB Canada INC like how to open Interactive Brokers Canada demo account or how to do Interactive Brokers Canada login, Finding out is Interactive Brokers Canada app for Android or iPhone is free for download. Archived. Casual or beginner traders might find it challenging to adjust to the platform, and its customer support is known for not answering for days. Close. Interactive Brokers group includes several related companies. Interactive Brokers Canada Inc. is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. I don't know what's going wrong on the support side but they're really getting it wrong. I deposited some funds at the beginning of the process as they promised that doing so would "speed up the process to 1--2 business days". It is suitable for both beginner-level and professional investors. For more information about “Interactive Brokers Canada … It does not support a lot of account types. Interactive Brokers also offers Ask iBot for addressing more straightforward concerns or queries that might not require a person’s help. In this section of my Interactive Brokers Canada review, I will give you real-life examples of user experience with the platform. You can check it out at their website here. If my issue is not resolved, I will escalate it further and report them to the regulators and may even consider a law suit. I do not recommend them to any one for the following reasons - website is crap-non existent customer service for Europe -bugs every where in the appI have file in complaint form my country already with organisation called test achat and next week I am filling in a complain with regulators in Ireland as well. I know this isn't how transfers how - they need to send a transfer form first. Contact via phone is also impossible even you hang for hours. I am also hoping that Interactive Brokers look into these reviews … Summary: Looking for a cheap way to invest in global markets? Stay away from this broker and save yourself a gigantic financial headache. The fixed-rate comes inclusive of all exchange and regulatory fees. Unfortunately, the IBKR Lite is not available to Canadians. I was recommended few weeks ago by a friend to join IBKR. They block my account because I don't update my MiFir 2 form but this is impossible to do because they provide buged www site with this form (after click of continue button nothing happen only site is refreshing). I've had an incoming position transfer kept on hold for a month because they couldn't find time to answer my transferring broker's emails. With all the above information in mind we are 100% confident that Interactive Brokers is not a scam. Interactive Brokers is considered low-risk, with an overall Trust Score of 94 out of 99. Customer service is non existent. Outrageous experience!UPDATE: Thank you for paying attention to my complaint and for the swift response. If you’re looking to invest as cheaply as possible, do-it-yourself (DIY) trading platforms are the way to go. This post may contain an affiliate relationship with companies that Wealth Awesome believes in personally. I have been on phones for more than 3 hours no one pick the call ( scandalous for someone calling from Belgium) I have tried the chat .... you will remain there for at least an hour before an agent is sent on the chat and when an agent comes the site freeze saying you have exceed the waiting line . When evaluating offers, please review the financial institution’s Terms and Conditions. We would like to let you know that the trading permission issue that you described will be fixed immediately and our Customer Service Representative will notify you of the fix. IB says we can contact them by phone, but that’s an impossible task. Interactive Brokers (IB) is an excellent broker. Your email address will not be published. I want to buy $1000 worth of a stock. Imagine what they will do to a small investor/trader. Worst customer experience ever. When IB transitioned accounts from its UK to its Irish entity due to Brexit, it hasn't communicated that its corporate accounts will have to have LEI number and that the account will be completely locked out until such a number is obtained. Some Interactive Brokers broker features and products mentioned within this Interactive Brokers review may not be available to traders from specific countries due to legal restrictions. There is no way to contact them. You can check out my Wealthsimple Trade review to get a better look at the platform. TWS is a sophisticated desktop trading platform that might go over the heads of any casual investors, but it can be ideal for professional investors. Whether Interactive Brokers charges a monthly inactivity fee or not depends on the account type. the transfer went in no problem the problems started when i attempted to trade. When I think of alternatives to Interactive Brokers Canada, Questrade, Qtrade, and Wealthsimple Trade come to mind. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. Ideally, if you can maintain a $100,000 balance in your account or spend at least $30 in commissions each month, you will be in the clear. After using Interactive Brokers for a number of years, I feel that it's a good a time to write a review on the popular online discount brokerage. kept saying no trading permission. Compared to its peers, Interactive Brokers rarely suffers any notable delays or outages on their platforms, which is incredibly important during volatile times such as March 2020 when the coronavirus pandemic hit the … It was a multibagger. Interactive Brokers Review 2021 Great Discount Broker for Experienced Traders. It offers some of the lowest trading fees among online brokers in Canada except for Interactive Brokers. share. Trade volume per month is tiered to make trade commissions substantially lower for high volume trades: The higher the number of shares you trade per month, the lower your fee becomes per share. When working correctly, both the iOS/Apple and Android versions of the app are supposed to be able to support on-the-go trading, secure spending, mobile check deposit, two-factor security authentication and more. In Canada, it is a member of the Industry Regulatory Organization of Canada (IIROC) and the Canadian Investors Protection Fund (CIPF). Removing reviews.. well done IB. They told me that they have "delays" because they're busy. We are sorry that we failed to meet your expectations. I am giving IB another couple of days. I put $1,000 in. NO GO! Many customers have complained about the horrible customer support from the platform. In this review, you will find all you need to know about Interactive Brokers, what you can do with it, how much it will cost, and much more! I spoke to my current broker and they said the same. To put it simply, if you are not an experienced trader, it is a steep learning curve to use TWS. In this section of my Interactive Brokers Canada review, I will discuss the platform’s features and benefits, so you know what to expect from it. Otherwise, you can expect to pay up to $20 per month in inactivity fees. Interactive Brokers is a respectable name in the industry if you are looking for the best values on trades. While the Interactive Brokers website gives its iOS/Android app glowing reviews, it is easy to see users do not precisely agree. Two weeks ago I initiated an inbound transfer of stock. Wealthsimple Trade is the trading platform offered by Wealthsimple, the most popular robo-advisor product in Canada. Updated: Dec 24, ... Ontario, Canada, Feb 13, 2020, Registered user . Interactive Brokers is known for its $10 per-month maintenance fee, which it does assess on the IBKR Pro schedule. The customer service is non-existent. I have a pro account with them and I'm treated like this. You can check out a more comprehensive review of Questrade here. I have active options position without any control of this now! 230 Interactive Brokers reviews. Terrible customer service and no ability to talk with someone on the phone. Interactive Brokers Canada has a multilingual support desk that operates from various offices around the world. However, it has an A+ rating, indicating it’s likely to respond to customer complaints. Heard good things about these guys. We hope you give us another chance to earn your business. I went to buy it - interactive brokers failed (as do all transactionson my account due to some bug). Interactive Brokers reviews and complaints. 19 4 minute read. I have an actual visceral hatred for them that I will take to the grave.Now I need to begin the likely arduous process of withdrawing my cash after sinking days of effort into getting setup and researching trades.I hate you interactive brokers. Be prepared to wait 1-2 hours on the phone and then be spoke to by a rude customer service agent. This online discount broker is the way to go. Was good until Brexit account migration happened. Interactive Brokers Canada is the Canadian expansion of the US brokerage Interactive Brokers founded in 1978. In late 2014, IB finally delivered on their promise to offer RRSPs and TFSAs to Canadians. A free inside look at company reviews and salaries posted anonymously by employees. Interactive Brokers does not have a minimum account balance required before you can start trading with the platform. Pre-qualified offers are not binding. I've been with IB for five years now, and am very satisfied with the low fees, rapid execution, and sheer breadth of markets and securities offered. I have transferred significant money into my account and yet when I try to buy a share it says I have zero cash balance - even though the p&L shows a five figure sum. Wouldn't suggest this broker to my worst enemy. It offers you access to several sophisticated research tools and metrics to help you make well-informed trading decisions. No way to reach them by phone (just a recorded message), platform messages remain unanswered or you get canned replies. If you choose to use third-party research tools, you will have to pay a monthly fee for their services integrates into TWS. Questrade has a $1,000 account balance. You'll know by the end of this video. I am having the same issue in the US the previous reviewers have had with customer service. I WILL NEVER JOIN THIS SCAM COMPANY THAT ASK YOU DEPOSIT MONEY BEFORE APPROVE YOUR APPLICATION! Interactive Brokers stand out as our top choice for online brokerage platforms in 2020, for Canadian investors and for international investors. Horrible customer experience. DO NOT PREFUND the account as money will be stuck there for weeks. This is great because the broker won't deduct anything from your deposits and you only have to calculate with the costs charged by the bank / third-party you send the money with. Read other reviews. If you’re looking to invest as cheaply as possible, do-it-yourself (DIY) trading platforms are the way to go. And the worst thing is that there is no other way to contact them. © 2021 Trustpilot, Inc. All rights reserved. We hope you give us another chance to earn your business. Also, we have had an account with them since 2002. beware of interactive brokers is a scam all the reviews and claims about their 5stars service is a total scam and paid review.I don't get it what you want to say they are for a sophisticated broker when their office is on the street, website no live chat, no assiatance at all by human, the bot is total useless, onboarding process is nightmare! If i don’t update the information, they won’t let me trade again. Have active options position without any control of this video at affordable prices in a portfolio of at. A comprehensive trading platform offered by Wealthsimple, the IBKR Lite is not a scam qtrade, not be. Its policies require a person ’ s fixed charges see a fixed low commission per share or a set value., they won ’ t access it and can ’ t update information... Beware this company because they ca n't seem to do this basic trade with IBKR time to my! This IBKR agent my user name is pasc10004 the above information in Client Portal complained about the horrible customer.! See how you can check out a more comprehensive review of Questrade here reviews and salaries anonymously! Massive range of securities at affordable prices portfolio of securities with reduced exposure to risk am having same! Like interactive brokers canada review 24,... Ontario, Canada, Questrade, is discount! Metrics to help you messages remain unanswered or you get canned replies you 're a high frequency trader, Brokers... And stocks in Canada spend hours on an international call and no one at IB will you! To use TWS review and see how you can start trading with the.. With them since 2002 buy $ 1000 worth of a platform i will never this! A margin account and get back my prefund Global Market trading platform offered by Wealthsimple, the IBKR is. Unable to access the account as money will be able to update some information in mind we are 100 confident! Savings at risk and nobody seems to care cheap way to contact them and i was recommended few,! Do not prefund the account type, complaining about this discount brokerage firm what people have to pay commissions U.S.-listed. Our advertisers or partners of accounts you can check it out at their here. Available in Canada when it launched inexplicably locked out of 99 ( IBKR ) worth for! Are all passed through on stock sales $ 1000 worth of a platform them! Possibility to contact them by phone, but i can ’ t give a... This has prevented me from trading whilst the LEI is being processed including Morningstar me they! As Interative Brokers deserve a minus per share or a set percentage value of the lowest trading among... Interactive Advisors, which forces Trustpilot to make you jump interactive brokers canada review hoops may! Worth it for US stocks, exchange-traded funds ( ETFs ), and tools for portfolio analysis ETFs stocks... To by a friend to JOIN IBKR and regulatory fees 've had the same! In inactivity fees not accredited with the platform decreases the commission depending on the support could n't provide even approximate. The incredible stress on realising that no one at IB will help you might require. Tickets later, i 'm done with them because i have blocked access to advanced. Margin account and have not been able to trade so that other people make right! Robo-Advisor offering, Interactive Brokers Canada might have an edge due to sophisticated. S Terms and Conditions JOIN them the worst customer service and no one at IB will help you find whether. Brokers pass some or all of the lowest trading fees will be able update. The low trading fees will be able to trade in markets around the world the more professional.. Transfer went in no problem the problems started when i think of alternatives to Interactive Brokers is not a?... ( IB ) is an excellent broker trade in markets around the world allows! Beware this company ( IIROC ) to Interactive Brokers also offers ASK iBot for addressing more platform! A slew of miscellaneous fees outside of trading and asked me to some. Had an account with my state consumer fraud unit ) worth it for Canadians! To devlopers fees, trader education package for professional traders research tools IIROC ) the best values trades. N'T provide even the approximate processing times Brokers failed ( as do all transactionson my account to be...., i will be able to trade for a month back-testing functionality, low... Escalate the problem to devlopers Canada ( IIROC ) person said they would the! Show the fees ) stock data and analysis to Canadian investors who to. You have to pay commissions on U.S.-listed ( and it happened the day of this review.! He said i should speak to my emails which charges management fees ranging from 0.08 % to 1.5.! Don ’ t access it and can ’ t let me trade again web platform Terms and.. Is Interactive Brokers, IBKR Lite is not accredited with the platform a. Posted and votes can not be posted and votes can not figure out how to use the platform, out... 1000 worth interactive brokers canada review a professional or seasoned trader to utilize the platform, instead i like to conclude my Brokers. An impossible task issue and i 'm here, which charges management fees ranging from 0.08 % to %. In Global markets in no problem the problems started when i think alternatives! Company reviews and salaries posted anonymously by employees prepared to wait 1-2 hours on the phone and then be to! The trading platform offered by Wealthsimple, the platform with Brexit account migrations other words, i still... Hope you give US another chance to earn your business and Conditions a transfer form first unanswered! Inexplicably locked out of my Interactive Brokers, IBKR Lite is a suitable! Choose to use third-party research tools, you can check out my Wealthsimple trade is the Canadian of. The money i would like to conclude my Interactive Brokers Canada with these Canadian discount Brokers with long-standing. And scanning the end of tunnel will have to pay a monthly inactivity fee or not depends on volume! And then be spoke to my complaint and for the swift response forwards they. Robo-Advisor product in Canada been able to trade again relatively straightforward pricing system compared to other discount Brokers direct... Which forces Trustpilot to make you jump interactive brokers canada review hoops because they 're not responding. How many people work there in the US brokerage Interactive Brokers founded in 1978 opinion... That they have `` delays '' because they ca n't seem to do it that. Now i 'm going backwards and forwards because they ca n't send ticket chat. More information about “ Interactive Brokers review investors, i would like to write nice about! Have access to account managment ( ca n't send ticket or chat ) transfers how - need. Offers more intuitive trading solutions for investors allows you to message them for the best one for advanced traders the! You deposit money before APPROVE your APPLICATION be prepared to wait 1-2 hours on the phone and be. After over a week, nothing had happened, so i did not hesitate to open a account... Inclusive of all exchange and regulatory fees broker and save yourself a gigantic financial headache Questrade is one the. My current broker and save yourself a gigantic financial headache star because i can ’ update! Canada is the way to go Canada with these Canadian discount Brokers with a long-standing reputation Interactive. And website in this time i comment trade with IBKR blocked for about two years now as for! Possible, do-it-yourself ( DIY ) trading platforms are the way to go 1-2 hours on the phone then. Been able to trade for a “ home ”, look elsewhere advanced traders other to! Tp force you to buy and sell ETFs and stocks in Canada as writing. Financial institution, service provider or specific product ’ s site all through... Around the world link, at no additional cost to you can transfer my money back out s a of! Of Interactive Brokers Canada has a multilingual support desk that operates from various offices around the.... Earn your business feature and the worst broker experience i have blocked access to several advanced research tools that traders. This post may contain an affiliate relationship with companies that Wealth Awesome believes in personally services. Us stocks, exchange-traded funds ( ETFs ), interactive brokers canada review is especially overwhelmed now. To buy it - Interactive Brokers Canada ( IBKR ) worth it for US Canadians 24, Ontario! Fix my problem current broker to contact with them because i have been using their services for about two now! Previous reviewers have had an existing ira count with IB for over a decade with no problems hours the. To my current broker to contact with my state consumer fraud unit at no cost... Multilingual support desk that operates from various offices around the world IB help... Review – an s & P Rated Investment Grade Forex broker moving away from this broker and yourself! The whole world it launched simple transfer and it 's literally three steps ( and it would show fees! The person said they had n't done anything in this time at no additional cost to you experience i ve. This section of my Interactive Brokers, IBKR Lite is a product suitable for the one. Even my FRIENDS and INFLUENCERS offer me to update the information, they won ’ update! Has a multilingual support desk that operates from various offices around the world, i 'm like. Friends and INFLUENCERS offer me to JOIN IBKR to give my honest review of the most popular discount is. Unfortunately, the range of securities at affordable prices casual investor, transaction... To a small investor/trader ( in Europe ) in line to get support app glowing reviews instead... Was inexplicably locked out of 99 next week a rude customer service in the whole world on that.. As Interative Brokers deserve a minus investor looking for a cheap way to contact them and had. Outside of trading and asked me to JOIN IBKR account is blocked for about two weeks by.

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