However this time I feel compelled to do it so that other people make the right decision before becoming opening a new account. Kat Peach January 6, 2021. have not been able to trade for a month. Two weeks ago I initiated an inbound transfer of stock. Sort by. No words. Are you interested in investing in a portfolio of securities with reduced exposure to risk? Save my name, email, and website in this browser for the next time I comment. Read other reviews. You have to stick with the IBKR Pro. After using Interactive Brokers for a number of years, I feel that it's a good a time to write a review on the popular online discount brokerage. TWS is a sophisticated desktop trading platform that might go over the heads of any casual investors, but it can be ideal for professional investors. This is by far the worst experience I’ve ever had in 25 years of investing. And the worst thing is that there is no other way to contact them. opened an acoount. Worst onboarding experience ever. Interactive Brokers Canada is the Canadian expansion of the US brokerage Interactive Brokers founded in 1978. New comments cannot be posted and votes cannot be cast. This post may contain an affiliate relationship with companies that Wealth Awesome believes in personally. save. Pre-qualified offers are not binding. As of April 15, 2020, Interactive Brokers has over 20 complaints on its BBB page, all of which it has responded to. Since I cannot access Client Portal, I am not even allowed to open or reply to old tickets or check if there has been progress. If you will ever need anything from them for which you will need to jump on a call, you will literally freak out, guaranteed. I have an actual visceral hatred for them that I will take to the grave.Now I need to begin the likely arduous process of withdrawing my cash after sinking days of effort into getting setup and researching trades.I hate you interactive brokers. Disclaimer: Wealth Awesome strives to keep its information accurate and up to date. Horrible customer experience. EVEN MY FRIENDS AND INFLUENCERS OFFER ME TO JOIN! Two 40 minutes calls on hold and multiple unanswered support tickets later, I'm done with them. Imagine what they will do to a small investor/trader. Imagine the nightmare!!!! 19 4 minute read. I went to buy it - interactive brokers failed (as do all transactionson my account due to some bug). Interactive Brokers Canada review by top forex trading experts, all you need to know about InteractiveBrokers Canada INC or IB Canada INC like how to open Interactive Brokers Canada demo account or how to do Interactive Brokers Canada login, Finding out is Interactive Brokers Canada app for Android or iPhone is free for download. Can't withdraw the funds myself either. The worst service I've ever experienced from any company in my life. In Canada, it is a member of the Industry Regulatory Organization of Canada (IIROC) and the Canadian Investors Protection Fund (CIPF). It is time to give my honest review of Interactive Brokers. I put $1,000 in. Once again, in 2021, Interactive Brokers is our top pick for professionals because of its institutional-grade desktop trading platform and rock bottom margin rates. Interactive Brokers is considered low-risk, with an overall Trust Score of 94 out of 99. Unreal!My honest advice, if you are a new trader or investor looking for a “home”, look elsewhere. I hope my review of the online broker will help you find out whether it’s worth your while. I have a pro account with them and I'm treated like this. 65% Upvoted. Interactive Brokers was founded in 1978 and is one of the biggest US-based discount brokers.The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC). Online discount brokers with a long-standing reputation like Interactive Brokers might be worth considering. Interactive Brokers Canada Review . Terrible customer service and no ability to talk with someone on the phone. Compared to its peers, Interactive Brokers rarely suffers any notable delays or outages on their platforms, which is incredibly important during volatile times such as March 2020 when the coronavirus pandemic hit the … There is no possibility to contact with them because I have blocked access to account managment (can't send ticket or chat). I've been with IB for five years now, and am very satisfied with the low fees, rapid execution, and sheer breadth of markets and securities offered. hide. Stay away from this broker and save yourself a gigantic financial headache. Interactive Brokers Canada’s fixed charges see a fixed low commission per share or a set percentage value of the total trade amount. Interactive Brokers also offers Ask iBot for addressing more straightforward concerns or queries that might not require a person’s help. Cannot access my funds. If you’re looking to invest as cheaply as possible, do-it-yourself (DIY) trading platforms are the way to go. You spend hours on an international call and no one picks up the phone. We would like to let you know that the trading permission issue that you described will be fixed immediately and our Customer Service Representative will notify you of the fix. Interactive brokers. No way to reach them by phone (just a recorded message), platform messages remain unanswered or you get canned replies. Advertising Disclosure This article/post contains references to products or services from one or more of our advertisers or partners. The support couldn't provide even the approximate processing times. Even so, good work is still getting done - I recently requested an inbound DRS transfer, got a ticket response within hours to set it up, and saw the shares arrive only three days later. It is not possible to deposit funds from Norway, and to get that simple piece of information I had to contact them several times, and hold the line for hours alltogether.If you want a broker who is on your team and is not your enemy, stay away from IBKR as an european citizen. I compared six different trading platforms, and Interactive got my pick for the best one for advanced traders. I confirm that IB did fix the Client Portal issue and I was able to update the information required for being MIFIR compliant. Unfortunately, the IBKR Lite is not available to Canadians. The issue started when IB interrupted my trading and asked me to update some information in Client Portal with regards to MIFIR regulation. Is Interactive Brokers a Scam? Mails not working at all you send an email you do not receive a receipt confirmation...For the past 2 days I am lock out of my account with error message that my password is not correct which is a total lie because that is the same password I have been using since I join IBKR. You have to wonder how many people work there in the first place. Interactive Brokers is not accredited with the Better Business Bureau . NO GO! You'll know by the end of this video. i just filed a complaint with finra. If you are a casual investor, the IBKR Lite is a simpler version. I really don't know why TP force you to give a one star as a minimum as Interative Brokers deserve a minus. Was good until Brexit account migration happened. Do not recommend. Professionals aside, Interactive Brokers also appeals to casual investors with $0 trades and its user-friendly web platform. Check out this Interactive Brokers Review and see how you can buy stocks from around the world. Here’s what people have to say about this discount brokerage. Interactive Brokers Review. Brokers Home. However, you need to be a professional or seasoned trader to utilize the platform to your benefit fully. I've had the exact same experience as the previous two reviewers. so i did not hesitate to open a margin account and transefer some securities over from ameritrade. Required fields are marked *. Interactive Brokers (IB) is an excellent broker. I equally HATE THIS COMPANY. Outrageous experience!UPDATE: Thank you for paying attention to my complaint and for the swift response. Been on hold for over 4 hours with no luck.I will give them until the end of day before I report them to the regulators and file a lawsuit if they do not give me access to my account. Reaching to your support is like hard mission. He said I should speak to my current broker to contact them and they hadn't done anything in this time. Was inexplicably locked out of my account and have not been able to reach customer service for the past 2 days. Whether Interactive Brokers charges a monthly inactivity fee or not depends on the account type. For casual investors, I would recommend using a more straightforward platform. I then used their live chat feature and the person said they hadn't even got in contact with my current broker. Client support has always been problematic, and is especially overwhelmed right now with Brexit account migrations. By email? beware of interactive brokers is a scam all the reviews and claims about their 5stars service is a total scam and paid review.I don't get it what you want to say they are for a sophisticated broker when their office is on the street, website no live chat, no assiatance at all by human, the bot is total useless, onboarding process is nightmare! Simple as that. It became the first zero-commission platform to trade ETFs and stocks in Canada when it launched. There is no way to contact them. Interactive Brokers Canada Review 2021: Global Market Trading Platform. My suggestion is find another broker. Online discount brokers with a long-standing reputation like Interactive Brokers might be worth considering. I want to buy $1000 worth of a stock. When something goes wrong on hold hell. Vision. While several of the other Canadian discount brokerage firms are affiliated with or are a part of a major bank, Interactive Brokers is not bank-owned and is more geared towards active traders than “investors” per se. the transfer went in no problem the problems started when i attempted to trade. It is suitable for both beginner-level and professional investors. report. The Bottom Line I am having the same issue in the US the previous reviewers have had with customer service. The company history started back in 1977 when Chairman Thomas Peterffy brought a seat on the American Stock Exchange (AMEX) and became a trading member as an individual market maker in equity options. I scoured the internet for hours to find reviews of people who are or have actively been using Interactive Brokers Canada for their trading activities. After over a week, nothing had happened, so I sent support a message. Despite all the advanced tools, TWS does make the process quite complicated if you want to perform more straightforward research compared to other platforms. This com[pany holds its clients in comp[lete contempt. In other words, I am locked out of my account with my life savings at risk and nobody seems to care. I do not recommend them to any one for the following reasons - website is crap-non existent customer service for Europe -bugs every where in the appI have file in complaint form my country already with organisation called test achat and next week I am filling in a complain with regulators in Ireland as well. Interactive Brokers Canada is a particularly useful platform when it comes to the more professional traders. I have try to follow procedure on their website for a password reset ( 2 days now) still on the phone and no one picks . Interactive Brokers Review 2021 Great Discount Broker for Experienced Traders. I do hope though that IB will take my advice and try to fix or improve their Client Portal for new accounts applications as well as for their existing clients. You should also know there is a slew of miscellaneous fees outside of trading and commission fees you should expect. You can check out my Wealthsimple Trade review to get a better look at the platform. Removing reviews.. well done IB. Only available as a smartphone app, the platform allows you to buy and sell ETFs and stocks without the need to pay commissions. I am still on the account opening process for over a month - and now they're not even responding to my emails. My advice, if you are a new trader or investor looking for a “home”, look elsewhere. In late 2014, IB finally delivered on their promise to offer RRSPs and TFSAs to Canadians. Edit: They also aggressively flag the reviews here, which forces Trustpilot to make you jump through hoops. , and Interactive got my pick for the best one for advanced traders. When I think of alternatives to Interactive Brokers Canada, Questrade, Qtrade, and Wealthsimple Trade come to mind. Live hat is useless and providing them information will not result in getting your application open. When working correctly, both the iOS/Apple and Android versions of the app are supposed to be able to support on-the-go trading, secure spending, mobile check deposit, two-factor security authentication and more. Awful customer service. Questrade has a $1,000 account balance. However, Questrade offers more intuitive trading solutions for investors. Last updated Jan 5, 2021. This is great because the broker won't deduct anything from your deposits and you only have to calculate with the costs charged by the bank / third-party you send the money with. If i don’t update the information, they won’t let me trade again. Absolutely appalling service, considering moving away from IB. 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