This brokerage firm was launched in 1977 in the United States. Interactive Brokers remains one of the top-rated Forex companies worldwide with its top-notch services and products that Singapore traders can benefit from.
Interactive Brokers Markets
Unlike many Forex brokers in this industry, Interactive Brokers offers a plethora of trading instruments that you can trade directly or via CFDs. First and foremost, clients of this broker gain access to the US stock market with its thousands of trading instruments. The brokerage firm offers US stocks and ETFs at low costs, meaning you don’t have to pay huge commissions to buy them (to buy a particular asset, you need to pay as low as $0.005 per trade).
Singapore traders and investors also gain access to the Singapore stock market products. The minimum commission, in this case, is 2.5 SGD. The average trading fee is 0.08% per trade volume.
Apart from stock markets, Interactive Brokers provides traders and investors with the opportunity to buy various types of contracts like options and futures, Forex currency pairs, bonds, physical metals, bonds, warrants, combinations, MFs, etc.
Interactive Brokers Singapore offers a variety of trading platforms, including the dashboard. The latter is a web application that you can start using right away after creating an account with the company. The platform offers the basic features allowing you to open trades and conduct market analysis.
If you want something more advanced, you can use the Trader Workstation trading terminal. This is a downloadable application that you can install on any desktop device.
Trader Workstation allows you to conduct deep market analysis, offering market research, news, and other important data. On top of it, you can also use various automated algorithms to automatically place orders and trade even if you are far from your desktop device. There are also several order types, allowing you to buy and sell assets by the market or delayed orders.
Apart from all those features, you can also use advanced risk management tools and gain access to constant market monitoring.
TWS (short form from Trader Workstation) offers a so-called paper trading feature. This is an excellent opportunity for traders to test the trading terminal and to familiarize themselves with all its features.
IBKR Mobile — is a special dedicated mobile app that you can use to trade on the go. The platform offers many useful features that help you to do deep market research and place various types of orders.
Education and Market Research
Interactive Brokers accepts all types of traders. Beginner market participants are offered a variety of services, allowing them to learn more about trading. The Education section includes Campus, Academy, Insights, Podcasts, videos, webinars, etc.
Traders are provided with the basics of the financial market and trading. Interactive Brokers education program reveals the basic concepts of trading including market analysis, supply, and demand, risk and money management as well as trading psychology.
Last but not least, you can also practice trading by using paper trading facilities. Like many other brokerage firms, Interactive Brokers allows you to use a demo and place orders without risking your own investments.
Apart from education, traders and investors can benefit from various market research materials, helping you to make reasonable trading and investing decisions. You will find various market reviews, the latest news, macroeconomic calendar, quarterly reports, etc.
Interactive Brokers Experts Verdict
The brokerage firm is legit and regulated in various jurisdictions, including the United States, the UK, Europe, and Asia. The company provides its clients with a variety of services, proprietary and stand-alone platforms, education services, and market analysis.