| Revision as of 05:54, 16 March 2007 edit70.73.4.197 (talk) added API and FIX← Previous edit | Revision as of 13:54, 18 March 2007 edit undo70.73.4.197 (talk)No edit summaryNext edit → | ||
| Line 16: | Line 16: | ||
| '''Interactive Brokers LLC''' is a United States-based deep discount online brokerage firm, operating on most major worldwide ], ], ], ], and ] exchanges. Its founder, Chairman, and CEO is Thomas Peterffy. Interactive Brokers' features include low fees, ], and electronic order entry, processing, statement delivery, ]s and account management. Their clients can manage their accounts and issue trades using web-based interfaces, custom applications written by Interactive Brokers, client-based applications through API or ], and verbal orders, albeit at a substantial commission. | '''Interactive Brokers LLC''' is a United States-based deep discount online brokerage firm, operating on most major worldwide ], ], ], ], and ] exchanges. Its founder, Chairman, and CEO is Thomas Peterffy. Interactive Brokers' features include low fees, ], and electronic order entry, processing, statement delivery, ]s and account management. Their clients can manage their accounts and issue trades using web-based interfaces, custom applications written by Interactive Brokers, client-based applications through API or ], and verbal orders, albeit at a substantial commission. | ||
| As of 2004, the firm's clients were making some 500,000 trades per year on various international markets and accounted for 21.4% of the trading volume of North America. They maintain offices in Chicago, Switzerland, |
As of 2004, the firm's clients were making some 500,000 trades per year on various international markets and accounted for 21.4% of the trading volume of North America. They maintain offices in Chicago, Switzerland, Montreal, Hong Kong, London and Sydney. IB is regulated by the SEC, NASD, NYSE, SFA, and IDA. The company had ]s of $1.6 billion USD and ] of $734 million USD in the twelve month period ending in August, 2006. | ||
| Most US Equity purchases or sales, 200 shares or less, can be accomplished through Interactive Brokers for a commission of $1. A minimum commission of $10/month is charged ($3/month if the account holder is under 25), and strict account eligibility criteria are enforced. | Most US Equity purchases or sales, 200 shares or less, can be accomplished through Interactive Brokers for a commission of $1. A minimum commission of $10/month is charged ($3/month if the account holder is under 25), and strict account eligibility criteria are enforced. | ||
Revision as of 13:54, 18 March 2007
| Company type | Public (Nasdaq: IBKR) |
|---|---|
| Industry | Financial Services |
| Headquarters | Greenwich, Connecticut, USA |
| Key people | Thomas Peterffy, Chairman, CEO, and Founder |
| Products | online trading |
| Website | www.interactivebrokers.com |
Interactive Brokers LLC is a United States-based deep discount online brokerage firm, operating on most major worldwide stock, futures, bonds, forex, and options exchanges. Its founder, Chairman, and CEO is Thomas Peterffy. Interactive Brokers' features include low fees, papertrading, and electronic order entry, processing, statement delivery, margin calls and account management. Their clients can manage their accounts and issue trades using web-based interfaces, custom applications written by Interactive Brokers, client-based applications through API or FIX, and verbal orders, albeit at a substantial commission.
As of 2004, the firm's clients were making some 500,000 trades per year on various international markets and accounted for 21.4% of the trading volume of North America. They maintain offices in Chicago, Switzerland, Montreal, Hong Kong, London and Sydney. IB is regulated by the SEC, NASD, NYSE, SFA, and IDA. The company had revenues of $1.6 billion USD and income of $734 million USD in the twelve month period ending in August, 2006.
Most US Equity purchases or sales, 200 shares or less, can be accomplished through Interactive Brokers for a commission of $1. A minimum commission of $10/month is charged ($3/month if the account holder is under 25), and strict account eligibility criteria are enforced.
Margin lending rates are amongst the most competitive in the industry, with typical accounts charged the Federal funds (or LIBOR) rate plus 150 basis points on outstanding debit balances with progressive discounts for larger balances. Unlike many other brokers, interest credit is also made for cash pledged as collateral for short selling.
Recently Interactive Brokers filed paperwork with the SEC for an Initial Public Offering on the Nasdaq exchange. The proposed ticker symbol is IBKR.
Trading software
- Traders Workstation, a cross-platform Java desktop application. It is primarily designed for daytrading, although it can also be used by buy and hold investors and all other account holders (including papertraders).
- PaperTrader, a slightly simplified version of Traders Workstation targeted developers and papertraders. Papertraders can use it to experiment with trading for free in a virtual marketplace, while developers use it to test programs written around for the Traders Workstation API.
- MobileTrader, for certain personal digital assistants and smartphones.
- WebTrader, their web application.
References
independent review of Interactive Brokers by Elite Trader