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InteractiveBrokers is a stockbroker. Interactive Brokers provides online and mobile trading platforms for trading platforms. InteractiveBrokers.com provides stocks, futures, options, ETFs, foreign exchange, CDs, bonds, etc. for your personal investment and trading options.
The identity of the broker owner has been hidden. There is a valid reason for this, because spammers use this information to send emails to broker owners. Unfortunately, this also makes it difficult to identify the owner. If the broker does show his true identity, we prefer it. When we analyzed the reviews, we found that the reviews were very positive or negative. We have seen this pattern on several scam brokers. Scammers buy fake reviews to hid...
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IF I can convince just 1 person to stay away then it will hopefully prevent another person from getting charged $1000 over the course of 3 years draining my account to $0 with fees. Screw these guys.
Honestly I thought Etrade and TD Ameritrade had problems, but Interactive Brokers made me feel lucky to be customers of these other two brokers. I can't believe IB is even allowed to advertise itself as a broker it's that horrible. Half the time the website doesn't work, the mobile application usually works but it's so crowded and convoluted I find it impossible to actually use for trading, and the desktop application looks like it was created in the 1980s and is almost unusable. Most of the time I have to login multiple times to the website just to successfully load my account details. They have this ridiculous "two factor auth" app that you must download to your phone just to be able to login to your account, instead of doing something smart like just using google authenticator. Maybe if they had focused on creating one single useful platform like a website OR an app, OR a desktop application they would have succeeded at one instead of royally screwing up all three. And "low cost" isn't an excuse - Robinhood works just fine and they don't chart any trading fees. The only reason someone might want to use IB is if they desperately need to be able to trade stocks on foreign exchanges. I can't imagine any other reason to put yourself through the horror of it.
The following are my opinions and experiences with Interactive Brokers. They took my money in a fiduciary relationship and converted it , defrauded my account, failed to disclose all fees. gouged my account and in the end half of my funds had become I.A.s, the stock losses and transfer fees were about 5% of the losses. Hopefully there company will be arrested for these frauds. I am experienced investor and have never been financially violated by a Gatekeeper of my funds before.
AVOID AT ALL COST!!! So much hidden fees! Don't let their low commission trades full you, they will make it all up with hidden fees. My Roth IRA has been charged with crazy amount of fees. Trying them out was the worst thing I ever did.
Deposits are easy...no so with withdrawals/wires. I followed their directions to a tee and they still refused/declined it.