Interactive Brokers

Interactive Brokers The trade name is Interactive Brokers Group; an American brokerage operating since 1977 that is listed on the Nasdaq and is a member of the S&P 500 index. This broker is considered one of the most reputable brokerages in the world, but it has one fundamental obstacle for Iranian users. In this overview, the Teagle editorial team reviews the licenses, accounts, platforms and the reason Iranians are restricted at Interactive Brokers, based on Teagle's data.

What kind of broker is Interactive Brokers?

Interactive Brokers has around 49 years of history, and the headquarters of Interactive Brokers LLC is in Greenwich, Connecticut, USA. According to the broker itself, it has more than 5 million clients with over $903 billion in assets and provides access to more than 170 markets. The group has 9 regulated entities in the US, the UK, Ireland, Canada, Australia, Hong Kong, Singapore, India and Japan. Unlike conventional forex brokers, Interactive Brokers earns mainly from commissions, not from the spread. Its additional services include rebates, education, social trading, expert advisors and trading bots, a trading API, an economic calendar and phone trading; deposit insurance is also recorded in Teagle's tags.

Interactive Brokers licenses and credibility

According to Teagle's expert, Interactive Brokers sits at the highest level in terms of regulatory credibility. Two of its active licenses are recorded in Teagle's listing:

• UK FCA (number 03958476) – active;
• Australia ASIC (number AFSL 453554) – active.

According to Teagle's data, the group's American company also operates under the supervision of the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). These are tier-1 bodies with protection and compensation mechanisms, and compensation support is also listed among this broker's advantages. To understand how this level of regulation differs from offshore licenses, read the guide to broker regulation tiers .

Does Interactive Brokers serve Iranians?

No. Interactive Brokers has an official page titled "Available Countries and Regions", and Iran is not on that list; the site has no Persian version, and according to Teagle's data Iranian IPs are also blocked. Teagle's expert stresses that this restriction stems from US sanctions, not the broker's quality: the group's American company is subject to the sanctions regime of the US Treasury's Office of Foreign Assets Control (OFAC). So residents of Iran should not open an account by circumventing this restriction, because the regulatory protections that make this broker valuable are effectively lost in that case. We have explained the importance of choosing a broker that officially accepts you in the article Prohibited brokers and how to choose a safe broker .

Interactive Brokers trading accounts

Interactive Brokers has defined two pricing tiers based on trading style, and neither has a minimum deposit:

• IBKR Lite: Zero-dollar commission on US-listed stocks and ETFs; suitable for less active investors.
• IBKR Pro: For active traders, with a per-share commission on US stocks and ETFs.

Leverage in both accounts depends on the asset type, no Islamic account is offered, and there is no requote. In Teagle's data, the Pro account commission figure appears differently in two sections, so we have not included it and recommend checking the exact rate in the broker's official table. If you are not familiar with exchange-traded funds, read the article What is an ETF and what are its advantages .

Interactive Brokers trading platforms

Instead of MetaTrader, this broker offers its own proprietary platforms: Trader Workstation (TWS) for professional traders, IBKR Desktop and the IBKR Mobile app. A trading API is also available for connecting automated systems; for this style of trading, see the article Algorithmic and quantitative trading . Teagle's expert considers the relative complexity of these platforms for beginners to be one of the drawbacks.

Deposits and withdrawals at Interactive Brokers

The methods recorded on Teagle are all fee-free: international bank transfer (deposit in 1 to 4 business days and withdrawal in 3 business days), check (withdrawal in 7 business days) and UPI (deposit in 1 business day and instant withdrawal). No Rial or crypto method is recorded for this broker.

Interactive Brokers rating and risk on Teagle

Interactive Brokers' final score on Teagle is 3.51 out of 5: WikiFX 4.41, Teagle expert 4, Trustpilot 3.2 and Forex Peace Army 2.428; no reviews from Teagle users have been recorded yet. The Teagle Eye risk index for this broker is 22 out of 100, in the "low to medium risk" category; tier-1 licenses and a long track record have brought the risk down. See where low-risk brokers stand in the ranking of the lowest-risk brokers .

Interactive Brokers pros and cons

• Pro: very high regulatory credibility and compensation support
• Pro: transparent cost model and no minimum deposit
• Pro: access to more than 170 markets and a trading API
• Con: no service to Iran and blocking of Iranian IPs
• Con: no Persian support and no Islamic account
• Con: relative complexity of the platforms for beginners

Who is Interactive Brokers suitable for?

This broker suits traders who want regulatory structure, market variety and cost transparency at the highest level and who live in a country on its permitted list. It is not suitable for traders residing in Iran. If you live outside Iran, weigh it against another reputable broker in the Interactive Brokers vs Swissquote comparison .

Conclusion

Interactive Brokers ranks among the world's top tier in terms of credibility, but due to sanctions it is not available to residents of Iran. If you are eligible, start with a small account, get familiar with the platform and make a test withdrawal; and in any case, follow the latest market warnings on the Teagle risk warning page .