Interactive Brokers | General financial discussion | Discussion forum

COIN said
Does anyone here have any experience with Interactivebrokers? It appears they have really good interest rates on margin loans.

https://www.interactivebrokers.ca/en/index.php?f=45250&wid=857811032  

had them since 2009 and no issues at all. Their commission rates esp US is pennies compares to bank owned discount brokers. CAD equities are charged per share so may not be most cost efficient if you trade big clips of pennies stocks.

Downside is you have to do ETF to move money in and out. And only 2 free ETF withdrawal per month if I remember correctly. Unlimited deposit obviously. Also they provide real time streaming quote but NOT free, you subscribe to the exchange you want and pay monthly fee. My fee is about $30 a month for NYSE, Nasdaq, TSE, Montreal options, and thats for non professionals. So you have to gauge how often you plan to trade/invest vs the cost.

Think of it as pretty much 100% online (support is there but limited availability) and if you need "holding hands" tech wise regularly, its not for you. They are more catered to more sophiscated users, financial advisors who manage multiple accounts, and hedge fund traders. Most individual uses less than 10% of what they offer technology and trading strategy wise. A discount broker tech offering is like kindergarten compare to IB at university degree.