Full Review of Interactive Brokers After 4+ Years

[@VerrilloTrading]

This video shares my thoughts on Interactive Brokers which is a trading service I have been using since late 2019. I explained what I think are some of the main things to look out for when using IBKR including account opening, currency conversion, shorting small caps, and what software I use for analysis. ✅ *Explore My Top Stock Broker Pick:* verrillotrading.com/ibkr/ 👨‍💻 Frustrated with IBKR or Sierra Chart? *Get Expert Help:* www.verrillotrading.com/remote-assistance/

[@DeehS-ru8dt]

I started using IB in 1993 when they were only cash in/out, no registration department, and the due diligence to open an account was a written test. However, they had institutional priced commissions that were available no where else. I worked at a regional brokerage at the time, and our Chicago floor broker introduced us to it. IB has come a long way!

[@yutube5167]

best way to transfer money to interactive brokers|? via us bank ach transfer or wise?

[@VerrilloTrading]

Thanks for sharing!

[@VerrilloTrading]

Let us know your experience with Interactive Brokers below and if you think I missed something let me know and I'll cover it in a future video!

[@christophergarwood2320]

Hello Chris, How long does it take settle a CRYPTO trade on Interactive Brokers???

[@hpmeyer]

Hey Verrillo, great video. On 26:30 you mentioned in FX trading for 200,000 USD/JPY a margin of 597.54 USD, but thats JPY. So 594.54/151.10(USD/JPY)= 3.94 USD Margin. So low Fee's for the amount. Cheers from Luxemburg, Heinz

[@EzekielPrellus]

One of the things I hate about IB is the way they upsell "booster packs" so you can view more contracts. It's a particular pain with options chains where each option counts against your contract limit. I believe in the TWS option chain view they must be using a "viewport limiting" mechanism where only contracts in your viewport hit against your limit. The new IBKR desktop is totally broken in this regard and they had to de-activate the "show all strikes" selector because you immediately exhaust your contract limit. I wish they would let you see chains without that hassle. And don't get me started about the API. To work with an option chain, you need to do a cross product of strikes against expirations and test each one individually to see if it a valid contract. They should provide a means to pull a chain and work with it more easily.

[@remickn]

Their charts are pre-historic and their customer service is non existant. You can chat to 3 customer reps and get 3 different answers on the same topic and all wrong. I got more info on IBK from your videos than from all their customer reps combined. Also, their market fills are probably the worst on the market. If I were a newbie, I would most likely pull up with all this, but when you are intermidiate or advanced, not a chance. I bought TV subscription and integrated them with TV platform. Their data feed is good and prices are probably the best on the market. Thats the only reason I am still using them partially. Still missing TOS with their charts, 5min call away customer service and amazing market order fills. So sad they left Canada. Thanks for a good video as well as tons of other ones you made and I watched in the last 3 weeks!

[@capitaldd3693]

You were lucky enough to get a rep......🤤 There execution seems very slow - I'm only using their paper account - but based on my experience with that, I may go elsewhere. Dropped orders, missed stop losses on a daily basis, can't reach anyone to ask questions....... hard to believe they are one of the better platforms

[@remickn]

I am on margin and using live data, so it might be a bit different. No issues so far when you place limit orders. Plus, I am not using IBK for execution directly, I do it thru DOM on Tradingview. But I hear you, when I called IBK, it is 1-3h wait for them to call me back. And no call returns on Mondays at all. LOL

[@Kuanyin3]

​@@remicknAre you executing in trading view Because it is better? Is the data price cheaper in trading view? I understand it's about $1.50 in IBKR.

[@Kuanyin3]

What do you mean by TV subscription, which vendor is that。

[@justkingj5450]

@@Kuanyin3 Trading View

[@igorbracic1522]

Mr. Verrillo, next great video. You were right, when I downloaded TWS latest version, my data transfer stopped every 20 seconds. TWS works stably, without interruptions. Thank you!

[@VerrilloTrading]

Glad to help!

[@mechael]

Thanks for the video, Chris. Could you do a video of an in depth tutorial of the mechanics of options trading? Not strategies, but just how to use the software to perform the strategies. I have learned the concepts of options trading, but the interface is confusing.

[@VerrilloTrading]

Great suggestion!

[@henry6377]

Hey, great video! I want to ask have you found any tips that could lower the commissions on IB as an active trader? Thank you!

[@VerrilloTrading]

If you use SMART routing, you can sometimes be routed to exchanges that provides fee rebates. You can also specify the SMART routing to prefer exchanges that are offering rebates.

[@Ex_877]

Hey Chris, great video. The reason the commission for USD.JPY seemed so high is because commissions are expressed in the quote currency (in this case JPY, with 597.54 JPY = 3.70 USD)

[@VerrilloTrading]

Thank you for clearing that up!

[@alexanderseredin]

Hi Chris! Thank you for your videos, they are very useful. Tell me, please, how do you work with debugging when compiling a program through the console?

[@VerrilloTrading]

Well in general the best oldschool advice is "When in doubt, print shit out". This means printing out your items to the console to make sure they are correct. This helps to debug the values of variables and the flow of your application.

[@EzekielPrellus]

Which watchlist is the target when you use 'Add to Watchlist' from Strategy builder at 17:16? Is it always a watchlist on that particular layout page? Also is it possible to use the same chart indicator more than once, e.g. with different settings, but split into two different indicator panes? TWS seems to want to cram "like indicators" onto the same indicator pane.

[@VerrilloTrading]

When you use Add to Watchlist, what I have seen it is that it adds the contract to the last watchlist that was in use. Whichever one you last clicked on. Don't think it matters if the watchlist is in a different layout. The indicator functionality for the standard charts in TWS is pretty limited. I never found any functionality that is able to change this behavior.

[@jazujadoo2743]

Thanks. Can you do a video on trade copier feature if it’s possible with IB? And what data feed will you recommend to trade futures with IB?

[@VerrilloTrading]

I recommend the Sierra Denali data feed for anything futures related. They support CME group and EUREX, and US Equities full consolidated tape.

[@mihaelmati288]

@@VerrilloTradingHow can i use Sierra Denali date feed with Jigsaw.

[@ThomasWayne488]

I wanted to ask, are mkt executions fast? i want to trade forex and gold on it. Nice video btw 🙏🏼

[@VerrilloTrading]

They are fast on the live account, though I never really recommend using market orders for entry.

[@dcorrea87]

Great video. Thank you. How did you get the notes panel?

[@dcorrea87]

Found it. Labeled as "trader's journal"

[@VerrilloTrading]

Glad you found it, happy to help.

[@KissRemastersFilms]

Good video mate, but what does the new trading platform look like? And what does the Market Depth and DOM look like in the new trading platform? Can you do a video on this please 👍

[@VerrilloTrading]

Glad it helps, maybe at some point!

[@jeronimosuarez7957]

Great review Chris! Would be great to make videos on the options liquidity tool and volatility trading on ibkr. Thanks a lot and enjoy your coffee!

[@VerrilloTrading]

Thank you! I'll have a look at those tools and see what I can come up with.

[@MrJohny922]

Just discovered your channel, great videos! Going to check more out. Thanks!

[@VerrilloTrading]

Awesome, thank you!

[@i_am_processing_]

Ironbeam for futures day trading. What do you trade on Interactive Brokers? Options, stocks?

[@VerrilloTrading]

Bonds, ETFs, options, and stocks.

[@i_am_processing_]

@@VerrilloTrading cool. I did a spreadsheet comparing both in terms of fees and interactive brokers was cheaper overall. I do want to use Ironbeam, but the international wire out fees add up.

[@jwhinney]

Very helpful, thank you! In your opinion, what are the drivers to switch from Lite to Pro?

[@VerrilloTrading]

Lite is not offered where I live so I could not say.

[@rhondaw6503]

In the past 7 months have you tried the desktop? Do you have an opinion on it yet?

[@VerrilloTrading]

I have tried it a few times yes. It's good but not as stable as TWS in my opinion.

[@sentinelwatch360]

Can you tell me if im ok in buying etf for long term with IB.. maybe buying 2 or 3 times a year to accumulate. IB seems to have all etfs i want and since im european from romania i can sign up.

[@VerrilloTrading]

Hello, as long as they have the ETFs you should be fine.

[@Koolboy881]

You have said before that you use IBKR to wire transfer to Ironbeam. How do you set this up instead of a bank wire transfer?

[@VerrilloTrading]

I send a wire withdrawal from IBKR to the other clearing firm's bank, never had a problem.

[@Koolboy881]

@@VerrilloTradingThank you. When setting up the withdrawal, what would be the reason for payment that I apply for it?

[@F14-talktomegoose]

very refreshing to listen to somebody who can articulate well and not massacre the english language ( like many south of your border)

[@VerrilloTrading]

Thank you I try my best not to massacre it when doing videos like these!

[@luke-da-duke]

you mean like when americans and brits annihilate the spanish language when visiting mexico and spain?

[@tradinggames3836]

Bonjour Chris, is the Mosaic platform different than the Classis TWS. The Mosaic looks exactly like your TWS which I use. Sorry, just to clarify?

[@VerrilloTrading]

Classic TWS is a quote window that is supposed to contain most of the necessary items for placing and managing orders, and seeing quotes. It is similar to the Quote Monitor widget which is shown in the video. In general I prefer to use Mosiac because it allows more customization and you can setup windows like Quote Monitor which contain the same functionality as Classic TWS.

[@beatzbye]

How do I factory reset everything? Like all my watchlists etc. Like everything back to default?

[@VerrilloTrading]

It is recommended to search for this topic online and create a backup of your Settings file before deleting any files if necessary. I cannot provide the steps to do this over a KZbin comment.

[@JacobTaff-r5o]

Being able to use wise is a game changer

[@VerrilloTrading]

I agree that Wise is pretty nice.

[@commercegil]

Good video, spot on. I wish they didn't use Chromium as a base for TWS. That really overworks my system and I use a gaming machine so it has the power. The first thing I have to do is go to task manager and start shutting down Chromium and then its good for the rest of the day.

[@VerrilloTrading]

Thanks for sharing, glad it helped.

[@steve-gabi]

thanks for great video! which Linux destro you are using?

[@VerrilloTrading]

Debian 12

[@StockSlicer]

I mostly use Schwab and Fidelity for trading, but the margin rates are high. On the borderline of switching to IBKR.

[@VerrilloTrading]

Thanks for watching!

[@LuisSiles]

Marco! have you switched? what are your thoughts now?

[@StockSlicer]

@@LuisSiles I’m still using Schwab and fidelity. Fidelity on most trades only charges open option contracts commissions and zero commission on closing. I trade a lot of options. IBKR may have lower margin rate, but it will cost more for options. Schwab lets me buy 0 DTE. Are you using IBKR?

[@prairie_rose]

Do yoi day trade with IBKR? And, if you do, do you find executions slow? Im Canadian

[@VerrilloTrading]

I have day traded with him. The executions are not slow however depending on the way you submit the orders it can result in slower order fills.

[@Kuanyin3]

Thanks for the video. Can't you just transfer funds out of your account by interac since it is free?

[@VerrilloTrading]

Glad it helps. You would need to use one of the supported methods. I typically use EFT method for CAD and Wire for USD.

[@beatzbye]

Hey how come I lose my Market Data like the different streams of data when I’m trading. Like for instance when I first logon and check it I have 17 but then I’ll check it later and it drops down to like 10?

[@VerrilloTrading]

Hello, where are you seeing this number 17 that drops to 10? Then I might be able to provide some info.

[@mamh6]

Keep it up Verrillo, I use IBKR for more than 1 year now but the software unexpectedly close and hang in critical moments (I have 2 MacBook m1 based and intel i9 based where same behavior happens!) I always put backup plan in case of closed in middle of trade (keep another device logged on but disconnected by the active device)

[@VerrilloTrading]

Thanks for sharing!

[@TheJocar76]

@@mamh6 hi, I also have kinda this problem. TWS will be fine at first but it seams like when I get in a trade sometimes it’s will become laggy and super slow to respond. I usually have to restart it and it’s usually ok

[@marc.lepage]

Would a portfolio margin account also be a Reg-T margin account, or would they be separate accounts? Would one want both, or is one strictly better than the other? Though I guess portfolio margin isn't available in Canada?

[@VerrilloTrading]

Correct that account type is not available in Canada. I don't know all the specifics behind it but it depends on your investment style. If you do a lot of hedging, the portfolio margin account should have lower capital requirement which is better.

[@marc.lepage]

@@VerrilloTrading Understood, thanks!

[@Nothing-Everything01]

I love your shirt man! Keep doing your thing

[@VerrilloTrading]

Thanks, will do!

[@crazytrain7721]

Hey man, thanks for this video. I'm still trying to get to grips with IBKR as I@m coming from TastyTrade which is incredibly basic comapred to this. Can I use chart trader to trade options? IF so, do you habe any videos of how to set that up please?

[@VerrilloTrading]

Glad it helps. Yes it is supported to use Chart Trader for options.

[@theRealJohnWayneGacy]

Your institutional IBKR account is for a prop trading group? If so, did you elect IRS Sec475(f)?

[@VerrilloTrading]

It is not for a trading corporation.

[@theRealJohnWayneGacy]

@@VerrilloTrading holding company?

[@VerrilloTrading]

@theRealJohnWayneGacy no it’s a corporation where the active income source is not trading. Still gets categorized as a professional for market data but not subject to those other regulations.

[@capitaldd3693]

Hey Chris , great video. You glazed over funding from your IB account from chequing account - is that fairly fast and easy and how about taking funds from the IB account to the chequing account......and time frame for such...? Also, how is your experience with slow execution of trades ..? What about missed stop loss set ups..? I use a paper account with them - with the intention of funding it and going live. But, I have a daily issue with missed stop loss setting(5 out of 6 the other day missed my set stops) and this is a frequent thing. Is this happening because I have a paper account or is that how their funded accounts work too. Not sure i can afford to miss that many stop losses - one missed by $5+ kinda why I use stop loss settings.....👀 I've tried using limit price and market price - both seem to be slow. I would think market price selling and buying would be instantaneous...? Thanks again

[@capitaldd3693]

I did not mention - but I use only stocks......

[@VerrilloTrading]

Hello, since you mentioned orders being missed, I do not recommend going live until you sort out these issues. The paper trading account should work nearly the same as a live account. If you are experiencing severe issues where orders are being unfilled or missed, and you need to carefully observe what is happening. There are also circumstances in which orders can be rejected by the exchange, these are rare, but they still exist.

[@VerrilloTrading]

In regards to funding using a Canadian checking account. This normally takes two business days from my experience. Let’s say one to a maximum of three business days using the direct deposit EFT method. I have used both the bill pay and direct deposit methods to fund the account. I found direct deposit to be easier since it supports both deposit and withdrawal. A wire transfer is the most ideal scenario for USD funds if you are Canadian.

[@moy-moydiez7194]

​@@capitaldd3693 I have the same issue too with the delayed fills. Did you buy market data for your paper trading?

[@devin22280]

Why does the new advance charts candlesticks start loosing its clarity and looks pixelated ? I have to change the timeframe to make it go back to normal i use a m1 pro Also how do i change my timezone so its on New York time zone ?

[@VerrilloTrading]

I could not say why these charts look pixelated on your machine. Timezone options are typically configured under Chart Parameters for the standard charts. Try looking for a similar setting in the advanced chart settings.

[@devin22280]

@@VerrilloTrading they fix the candles charts are fine but still can put time zone on new york time

[@lucca063last4]

Is there a minimum deposit required for the account to be activated? Is there an inactivity fee or any fee to keep the account open?

[@VerrilloTrading]

No there is no minimum deposit. No inactivity fees.

[@lucca063last4]

@VerrilloTrading thanks

[@aakarzinzuwadia203]

Hello boss! Thank you for all your videos. I have a question regarding conditional order in ibkr. Let’s say I wanna buy call option if the stock reaches certain price, then it should auto buy my call. Is it possible? Thank you!

[@VerrilloTrading]

Yes this is possible. I will see if I can do a video showing how this is done in TWS.

[@peterpanci78]

Hi do you trade stock only? Or do you trade forex us well

[@VerrilloTrading]

I do trade some FX mostly swing positions.

[@misterringer]

Pros: The best margin rate in the industry Cons: everything else 🤣. Out of all the platforms I have used, theirs is the least intuitive. I really miss TOS for options but TD/Schwab are more than double IBKR's margin rate.

[@VerrilloTrading]

Thanks for sharing!

[@Kuanyin3]

Thanks for the vid. Can you please do a video on recommending the best free trade journalling sites? I’ve looked at a few, but they all cost. Free would be best. Thanks.

[@VerrilloTrading]

Almost no good software that is properly supported and reliable is free, especially in the trading industry. I personally journal just using Sierra Chart, trade tags, and some code.

[@stevehalabi]

Can you short on BTC in Interactive Brokers in Canada ? Thanx

[@VerrilloTrading]

Bitcoin futures and micro bitcoin futures on the CME exchange. The only other way would be if there is a BTC ETF available. Spot Crypto on IBKR is not available in Canada right now.

[@sanketpatel1376]

how nuch margin we get in interactive brokers for day trading stocks like tesla or nvidia??

[@VerrilloTrading]

Probably reg t which is 4 to 1 at most.

[@capitaldd3693]

hello, are the Real Time Data fees for IB -for an individual free , if you have a - $500/month balance...? and then commission fees area also applied per trade...... thanks

[@VerrilloTrading]

Some of the market data fees are waived if you generate a certain amount of commission (around USD $30) per month. This can be seen when you access their market data subscription page in your account where it shows each subscription.

[@pavelkatzarski2183]

Hi! I read that Ibkr provides trading Forex. But for some reason it doesn't allow me to do that. I don't know what wrong.

[@VerrilloTrading]

One thing is to check the trading permissions in your account settings. You need to be enabled for currency trading and maybe leveraged currency trading.

[@FuturesScalper_]

Review ironbeam again are they good for high volume futures trading

[@VerrilloTrading]

I think yes as long as you can negotiate.

[@FuturesScalper_]

@@VerrilloTrading bro which best futures scalping platform I use 15 sec and 1min and have big contract size who can execute as per my requirement

[@Fidelb33r]

🙏 I don't see a rival for IBKR if you're RETAIL trader with all the stuff they offer plus the access to all the global markets, margin etc. BUT they need to improve customer service, make the software more stable, less bugs, faster

[@gheadwind]

excellent recap! question, how much capital is required for futures trading approval (permission)?? Thank you!

[@VerrilloTrading]

I am not sure of the exact number, you can try to perform a search online.

[@gheadwind]

@@VerrilloTrading I did try and there was absolutely no info available! Thanks anyway

[@yutube5167]

best way to transfer money to interactive brokers|? via us bank ach transfer or wise?

[@VerrilloTrading]

Best way would depend on where you have the funds. Bank ACH is probably the most simple.

[@sradinsky]

Excellente présentation Chris.

[@VerrilloTrading]

Thank you!

[@danielgeraldes2459]

How fast is IB for day traders with futures?

[@VerrilloTrading]

I would say it's good, though not my favorite!

[@satinderbank4607]

Great Video. Desktop version is pretty good and they are adding more features regularly. Too bad they don't have you tube evanagalists like yourself to promote that platform.

[@VerrilloTrading]

Thanks, I will have a look at it soon!

[@jazujadoo2743]

Also does Sierra allow trade copier? Can you do a video please?

[@VerrilloTrading]

Where do you want to copy the trades? Do you mean copy from one account to another if trading on Sierra through a supported trading service? Yes Sierra has that.

[@jazujadoo2743]

hi Yes. what i meant was that if I take a trade long on NQ, the same trade gets copied on different accounts in Sierra with the same ATMs and if it's possible? can you kindly do a video on that? and is it possible to somehow connect all this multiple trades in Sierra but using Interactive Brokers Canada? does IB support trade copier feature in Sierra@@VerrilloTrading

[@dianasotto2293]

I got Cdn deposit in my acct and USD deposit. I have Option trading US stocks. In my Holdings, i often see balance in cdn and also in usd. I am confused as to how much ( always in USD ) i can still use in my option trading.

[@VerrilloTrading]

If you are mostly trading US products, it would probably be less confusing if you changed the base currency of the account to USD. The number that you have available for trading should be your Excess Liquidity. Keep in mind this number doesn't account for leverage that you may or may not get when trading options spreads or other complex positions. If you require additional assistance feel free to follow up or send an email to [e-mail]

[@yutube5167]

which stock do u keep? do u keep nvdia?

[@VerrilloTrading]

No.

[@TraderDynamics]

Hi Chris, Do you have a way to get in contact. I am looking to have a custom study modified in Sierra. Do you perform this kind of work?

[@VerrilloTrading]

Hello, there is a contact email on the channel about page. You can send your request there. No guarantee I will take the work but I am somewhat experienced with sc interface.

[@gl1mpse00]

Bro great content! newbie investor here. I'm planning to invest on ETFs long term but I'm not sure if I can buy these ETFs (Invesco QQQ, SPDR S&P 500 and iShare Gold Trust) in IBKR. If available, will it allow to buy a fraction of an ETF? or minimum is 1 share per buy?

[@VerrilloTrading]

Hello, yes they do support fractional ETF shares trading.

[@olllyvava5904]

The shittiest broker. Full of defects. So many basic features that are not working as they should (I only use mobile app to trade. I watch graphs, price action and order books elsewhere) Support doesn't get back to you in ages, and when they do they are totally useless, copy pasting some nonsense scripts. And the worst news - they are not even able to track your location properly and can block your account out of the blue because you were passing 200 miles south of Cuba (which is a red jurisdiction). And then you are completely fooked. Account turns restricted, and you can only close it then

[@VerrilloTrading]

Sounds like you had a worse than average experience. I haven’t had a problem when travelling south, I did have one with Paypal. Never had a problem with support either. I guess it’s different for everyone.

[@gasfeesofficial3557]

lost all your money on IBKR right?

[@VerrilloTrading]

I did blow a small account way back in 2019 but right now I manage two of my portfolios there with decent results looking to bet more.

[@TradingWarzOfficial]

Hey brother I'm also an IBKR partner and would love to have you on my channel to chat about futures trading with IBKR!

[@VerrilloTrading]

Maybe one day.

[@MalcolmBooth-x8h]

Interesting and useful but wanders into too much detail and information on esoteric subjects.

[@VerrilloTrading]

Thanks for the feedback.

[@joeyvlljs7931]

I'm going to give honest review no filter but your biased because they are paying you . Come on man 😂

[@VerrilloTrading]

Is there anything you think I overlooked or purposely chose to not cover because I am biased? Looks like a lot of people are finding value from this video that they were not able to find elsewhere.

[@abdelhakimbrahmi1451]

TWS is horrible plate form ever seen to use, I left IBKR because lake of plate form

[@VerrilloTrading]

Thanks for sharing.

[@thetruth5432]

Wordy

[@VerrilloTrading]

Glad to help!

[@sonicewave]

interactive broken platform is hands down hot trash, this guy does a good job of covering this garbage he calls a trading platform, however tws is riddle with bugs that never get fixed, no matter how many tickets you open.

[@VerrilloTrading]

Thank you for the feedback!