Interactive Brokers 2021 Review: Pros, Cons, and More

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Customers will find that Interactive Brokers has several different trading platforms designed for the needs of active traders and long-term investors alike. Its platform earns high reviews from active traders who appreciate access to a fully-featured trading platform on their desktop.

Here are the platforms Interactive Brokers has to offer:

Client Portal: Interactive Brokers’ modern and user-friendly desktop trading platform. This is the easiest way for an investor to log in and place a trade on the platform. But all clients (IBKR Pro and Lite) have access to all three of these.

IB Trader WorkStation (TWS): TWS is a fully-featured desktop trading platform that offers all the functionality (and more!) that investors have come to expect from desktop solutions. Fully customizable, you can design your screen how you want to. Its watch list feature can include an extraordinary amount of information on every stock, from its P/E ratio to how many days it takes the company to sell its inventory, on average. TWS is chock full of screeners, stock option analysis tools, and backtesting options.

Mobile platforms: Interactive Brokers also offers a powerful mobile application for iOS and Android devices. The apps offer streaming data, charting tools, and the ability to place even the most complex trades from a mobile device. With access to over 120 worldwide markets, mobile users will find that there are no limitations on their ability to trade from the palm of their hand.

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As long-term buy and hold investors, we don’t necessarily make full use of all the bells and whistles of a fully-featured trading platform. Frankly, the impressive functionality offered by its desktop platform, IB TWS, can be as much of an advantage for active traders as it is a disadvantage for inexperienced investors.

New investors seeking a good stock broker for beginners may be put off by all the moving parts of its desktop platform. Even the basics can be overwhelming since the platform is built to offer access to so many different markets. For example, after entering a ticker symbol for a popular ETF, the platform prompted us to select whether we wanted a quote for the stock, options, or futures contracts based on its value. It’s simple to navigate, but new investors may be lost in the shuffle.

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View more information: https://www.fool.com/the-ascent/buying-stocks/interactive-brokers-brokerage-review/

Xem thêm bài viết thuộc chuyên mục: Stocks

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