Interactive Brokers is usually a pretty huge name in relation to the forex trading sector. This forex broker has been a constant in the Forex business for almost four decades and is still going strong. Interactive Brokers was founded in 1977 and started operations in 1978. Since then, it has managed to keep its head to become a credible giant in this trade.
From his headquarters in the United States, he has managed to spread his influence to many other countries around the world. Currently, its offices are in India, Japan, Canada, Hong Kong, and the UK. This growth strategy is to bring its services close to its many clients found all over the world.
About Interactive Brokers And The Security Of Their Funds
The company was formed to provide trading services for the young financial sector in Forex trading. With this in mind, he managed to attract several clients who wanted to know more about forex trading and even participated in it. Over the years he has managed to grow rapidly cementing his name as one of the most credible forex traders.
Interactive Brokers has succeeded in expanding its territory to many regions of the world. This is to take his services near his clients. This is very beneficial as it has succeeded in bringing him near many business centers such as Hong Kong and London where he takes advantage of the busy financial nature of these places to seek out more clients.
This company is credible and has proof of courtesy many licenses under its ownership. This license has been granted by the regulatory body in the country of operation. Among the main points of focus by these agencies is the security of client funds. This has prompted Interactive Brokers to take the following steps to maintain this security.
- Use a credible bank to deposit the funds.
- Use state-of-the-art voice encryption techniques to deter cybercriminals.
- Use of separate bank accounts to separate company funds from client funds.
The following are the licenses held by Interactive Brokers:
- UK Financial Conduct Authority (FCA) has licensed Interactive Brokers
- Hong Kong securities and futures commission also grants licenses to Interactive Brokers
- And the Investment Industry Regulatory Organization of Canada is also one of the licensees for Interactive Brokers
Trading Accounts Owned by Interactive Brokers
Having a trading account with Interactive Brokers will allow you to trade on many financial trading instruments as well as enjoy their unique trading conditions. To have an account, you must register for the account using valid details.
Interactive Brokers has two account types that have been specially designed to meet the needs of each client. This is a free trial account and an individual account.
Free Trial Account
A free trial account is also referred to as a demo account. This account type is designed to meet the needs of novice traders who have little or no knowledge of forex trading concepts. This account is free to register and provides a simulated environment where the trader will be able to perfect his trading skills. They are also provided with virtual funds to assist in trade execution practices. This account type may also be employed for refresher lessons by those that have forgotten about trading ideas.
Individual Account
Individual accounts are standard trading accounts offered by Interactive Brokers. It really is appropriate for both knowledgeable skilled traders and novice traders. Following would be the numerous options of this account form.
- The minimum deposit is $10,000.
- Allows for hedging and scalping.
- Has a market execution type.
- Allows the use of the United States dollar, Canadian dollar, British pound, and Japanese yen among others as base currency units.
- Have a minimum position size of 0.25.
Trading Platform Owned By Interactive Brokers
Interactive Brokers has some of the best trading platforms that have been specially designed for its clients’ needs for a smooth trading process. These platforms are TWS desktop, IBKR mobile platform, and IBKR webtrader platform.
TWS Desktop Platform
The desktop TWS platform is a downloadable platform suitable for your desktop. Its features are:
- Easy-to-use interface.
- Lightweight software.
- Has advanced analysis tools.
- Easy to customize.
- Real-time monitoring.
- Risk management.
IBKR Mobile Platform
The IBKR mobile platform is a downloadable platform that allows you to trade from your mobile phone. It has versions for ios and android operating systems. It comes with numerous options in analytical tools together with sophisticated drawing tools. It is lightweight so it will not take up substantially of the device’s storage space.
Webtrader Interactive Brokers Platform
The web trader platform is a platform that will allow you to execute your trades from your browser. It is compatible with most browsers and is famous for its short duration. The web trader platform is accessible to your desktop as well as your mobile device.
Wrapping Up
Interactive Broker is a credible broker with many years in the business which gives it a higher level of expertise. It is truly appreciated and loved by clients, as evidenced by Interactive Brokers’ customer comments and reviews. This is a recommended broker for professional forex traders.