Beyond learning how to effectively build watch lists, I found only one usability disadvantage that comes from supporting so many investment types, and that is pulling up quotes or trading securities. New and casual investors should be aware of the miscellaneous fees and minimums charged by Interactive Brokers. Morningstar, which are available for a monthly fee. Mobile trading with Interactive Brokers is mostly an enjoyable experience. Interactive Brokers is not known for its research offering. Watch lists can include anything from equities to individual options contracts, futures, forex, warrants, you name it. Considering the depth of functionality, I was surprised to find only eight tools for mark ups. With its core clientele being professional traders and institutions, providing the lowest commissions schedule available is critical for Interactive Brokers. Note though, while 124 option indicators are impressive, TWS still trails the 270 and 370 offered by TradeStation and TD Ameritrade thinkorswim, respectively. Type in any stock symbol and you will see a summary of available securities. No broker offers an experience like TWS.
After assessing TWS across 58 individual variables, the platform not difficult ranked among the best in the industry. Pickiness aside, the charts on TWS have all the core functionality required to succeed: viewing historical trades, alerts, trading off charts, comparisons, and index overlays, to name several. You also cannot perform ACH account transfers within the app. IB Key app instead of simply Touch ID logging into the actual app as you load it. One hundred and twenty four different studies are available to be added to any chart, and customizations cover every possible option. After loading WebTrader, I found a detailed summary of my portfolio balances and margin requirements alongside a full spectrum order ticket. Turning to charting, technical traders will find nearly everything they need.
Algo trading, Options method Lab, Volatility Lab, Risk Navigator, Market Scanner, method Builder, and Portfolio Builder, to name a few, are all available within TWS. The broker placed 15th out of 16 brokers we tested. During testing for our 2017 Review, we found support to be consistently poor regardless of the channel being used: phone, email, live chat. Interactive Brokers is a great choice for investors who fit into its target mold. Watch lists can have up to 338 different columns, and to say they are fully customizable is truly an understatement. Find the right service provider for your trading needs. The platform is set up to trade everything under the sun, including global assets, and is designed to be used by traders with ample market experience. Fees notes further down the page.