Interactive-trading Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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Interactive-trading's website is down...I'm really feeling hopeless as I've been dealing with their staff for the past few months trying to get my money out. Now I have lost contact with them and I don't think there is any way to get my money back... I regret it so much now, but it's already too late.
In the ever-evolving landscape of online trading, Interactive Trading has emerged as a formidable player, catering to a diverse range of investors from beginners to seasoned professionals. This review synthesizes insights from various sources to provide a comprehensive overview of the broker's strengths and weaknesses, focusing on user experiences, expert opinions, and key features.
Overall, Interactive Trading is recognized for its competitive pricing and extensive range of tradable assets, making it a strong contender for both casual and active traders. However, users have expressed concerns regarding the complexity of its platforms and customer service experiences. Notably, the broker's operational structure varies across regions, which can impact user experience.
It is crucial to highlight that Interactive Trading operates through different entities in various jurisdictions, which may affect regulatory protections and service quality. This complexity necessitates a careful examination of the specific entity servicing your account to ensure a fair and accurate trading experience.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 8 |
| Tools and Resources | 9 |
| Customer Service and Support | 6 |
| Trading Experience | 7 |
| Trustworthiness | 8 |
| User Experience | 7 |
| Overall | 7.5 |
Our ratings are derived from a comprehensive analysis of broker features, user feedback, and expert evaluations.
Founded in 1978 by Thomas Peterffy, Interactive Trading has established itself as a leader in the online brokerage industry. The firm is headquartered in Greenwich, Connecticut, and provides access to a wide array of trading platforms, including the advanced Trader Workstation (TWS) and mobile applications. Clients can trade various asset classes, including stocks, options, futures, forex, and cryptocurrencies. The broker is regulated by multiple authorities, including the SEC and FINRA in the U.S., ensuring a robust compliance framework.
Regulated Geographical Areas/Regions:
Interactive Trading operates in over 150 markets across 34 countries. Its diverse regulatory framework includes entities like Interactive Brokers LLC in the U.S. and Interactive Brokers (UK) Limited in the U.K., each adhering to local regulations.
Deposit/Withdrawal Currencies/Cryptocurrencies:
The platform supports various currencies for deposits and withdrawals, including USD, EUR, and GBP. Clients can also trade cryptocurrencies like Bitcoin, Ethereum, and Litecoin through partnerships with Paxos and Zero Hash.
Minimum Deposit:
There is no minimum deposit requirement for the Interactive Trading Lite account, making it accessible for new investors. However, the Pro account may require a minimum balance depending on the trading strategy.
Bonuses/Promotions:
Currently, Interactive Trading does not offer any promotional bonuses. However, they have competitive pricing structures that appeal to both casual and high-volume traders.
Tradable Asset Classes:
The broker provides an extensive range of tradable assets, including over 37,000 stocks, options, ETFs, mutual funds, bonds, futures, forex, and cryptocurrencies. This variety allows investors to diversify their portfolios effectively.
Costs (Spreads, Fees, Commissions):
Interactive Trading offers commission-free trading on U.S. stocks and ETFs through its Lite account. The Pro account features a tiered pricing structure, where commissions can drop to as low as $0.0005 per share based on trading volume. Options trades are priced at $0.65 per contract for Lite users, with lower rates available for Pro users.
Leverage:
The platform provides competitive margin rates, with rates as low as 5.83% for Pro users. This feature is particularly attractive for active traders looking to leverage their investments.
Allowed Trading Platforms:
Interactive Trading offers multiple trading platforms, including the advanced Trader Workstation (TWS), a simplified client portal, and mobile applications tailored for both casual and professional traders.
Restricted Regions:
While Interactive Trading is available in many countries, some regions may have restrictions based on local regulations. Users are advised to check the specific terms applicable to their location.
Available Customer Service Languages:
Customer support is primarily offered in English, with additional languages available depending on the region. Support channels include phone, email, and live chat.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 8 |
| Tools and Resources | 9 |
| Customer Service and Support | 6 |
| Trading Experience | 7 |
| Trustworthiness | 8 |
| User Experience | 7 |
| Overall | 7.5 |
Account Conditions: The absence of a minimum deposit for Lite accounts is a significant advantage, making it accessible for new investors. Pro accounts, while offering advanced features, may require a higher initial investment.
Tools and Resources: The platform excels in providing advanced trading tools and resources. The Trader Workstation is particularly noted for its analytical capabilities, making it suitable for sophisticated investors.
Customer Service and Support: User feedback indicates that customer service is a mixed bag, with some users reporting long wait times and unsatisfactory support experiences. However, the availability of online resources and a chatbot for quick queries is a positive aspect.
Trading Experience: The trading experience is generally smooth, although the complexity of the TWS may be overwhelming for beginners. The mobile app provides essential functionalities, but user ratings suggest room for improvement.
Trustworthiness: Interactive Trading is well-regulated and has a strong financial position, contributing to its reputation as a trustworthy broker. However, the practice of holding assets in "street name" raises concerns about liquidity in case of insolvency.
User Experience: The user interface can be complex, especially for beginners. While the platform offers extensive features, navigating them may require a steep learning curve.
In conclusion, Interactive Trading stands out as a robust platform for serious investors, particularly those engaged in active trading. However, potential users should weigh the complexity of its offerings against their trading experience and needs. The broker's commitment to low costs and extensive asset access makes it a compelling choice in the competitive brokerage landscape.
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