I’m getting frustrated with E-trade because they don’t give me access to enough international markets. Since I have dual citizenship, I should be able to invest in way more stuff than what most American brokers offer. I looked at Schwab International and they’re a bit better but still pretty restrictive. Interactive Brokers seems different though. They let you invest globally and you can even keep your money in different currencies. I think you can also base your account in places like Canada or Europe. Has anyone here actually used Interactive Brokers? What was your experience like? The only bad thing I’ve heard so far is that their customer service isn’t great if you need help outside of US business hours.
Been using IB for 3 years. Platform’s confusing at first but execution’s rock solid once you get it. Blows away most retail brokers.
Margin rates are insanely low - saved me a fortune on carry trades. Currency conversion fees aren’t bad either.
But yeah, the interface is a nightmare initially. Took me weeks to set up everything right. Support’s hit or miss too. I just search their help docs instead of waiting for someone to respond.
For international trading though? Can’t beat their market access. Just plan to spend serious time learning the system.
The multi-currency feature is great for trading in different markets. You can keep positions without converting everything back to USD constantly.
Commissions decrease as your volume increases. It was a bit pricey starting out but now it’s better than most brokers.
Be cautious of their minimum activity fees before you sign up.
Good for forex but their platform feels ancient.
IB’s solid for global trading but you’ll be troubleshooting most issues yourself. Their support isn’t great.