Interactive Brokers

February 2009. Interactive Brokers (IB) offers services that that the average investor may seldom need: a customizable trading platform, cutting-edge charting and research services, dynamic streaming quotes, tools for risk management, and the ability to place orders that go directly to the market. IB stands out as well for its low costs and access to foreign markets. Customers place orders through its proprietary platform, Trader Workstation, which is available in both a browser-based and a standalone format. A commission of one half cent per trade makes it among the lowest-cost brokers around, though IB also charges $10 monthly for those who don't spend at least that much in commissions and market data fees each month. If you want the low trading costs but not the bells and whistles, TradeKing may be a better option, according to reviewers.

Of our top-ranked reviewers, SmartMoney and Barron's include IB among the online brokers whose products and services they test and review. We found another mention of IB in the 2008 Readers Choice Awards in the publication Technical Analysis of Stocks & Commodities.