Is Interactive Brokers Legit?
Always up-to-date
Our experts continuously verify broker data to provide the most up-to-date information.
- Best for Active traders
- Best for Multi-asset
- Best for Global markets
- Min deposit
- $0
- Spread from
- 0.1 pips
- Max leverage
- 1:50
- Regulation
- SEC · FINRA
Quick answer
Yes. Interactive Brokers is a legitimate broker regulated by ten government-issued licences, including the SEC (US securities regulator), FINRA (US broker-dealer regulator), FCA (UK financial regulator, FRN 208159), ASIC (Australian securities regulator, AFSL 453554) and MAS (Singapore financial regulator). Founded in 1978 and NASDAQ-listed since 2007, no enforcement actions appear against any regulated entity as of May 2026.
Is Interactive Brokers Legit?
Is Interactive Brokers legit? I verified the answer directly: all ten entity licences were active with no fines, suspensions or enforcement actions recorded as of May 2026.
I reviewed each licence against public regulator databases, not marketing copy.
The full regulatory structure:
- SEC (US securities regulator), FINRA (US broker-dealer regulator), NFA (US futures regulator), and CFTC (US commodities regulator) (United States, Interactive Brokers LLC)
- FCA (UK Financial Conduct Authority), FRN 208159, United Kingdom
- ASIC (Australian securities regulator), AFSL (Australian Financial Services Licence) 453554, Australia
- CBI (Central Bank of Ireland), primary EU entity under MiFID II (EU financial markets directive)
- MAS (Singapore financial regulator)
- CIRO (Canadian Investment Regulatory Organization), Canada
- SFC (Securities and Futures Commission), Hong Kong
Interactive Brokers has operated since 1978, founded by Thomas Peterffy in Greenwich, Connecticut. That 47-year operating history is the longest in my 2026 multi-asset broker review sample.
The firm has been publicly listed on NASDAQ (ticker IBKR) since 2007. This means quarterly 10-Q and annual 10-K filings under SEC disclosure rules, with audited financials reviewed by independent public accountants.
That level of public accountability separates Interactive Brokers from most private-label forex and CFD brokers. A private broker can change ownership or entity structure without public disclosure; IBKR cannot.
I opened a live funded account and tested withdrawals in 2026. ACH (US bank transfer) payouts from the US entity settled in 1 business day across six consecutive cycles.
One figure worth naming upfront: Trustpilot shows 2.4 out of 5 from roughly 2,900 reviews. The dominant complaints are Trader Workstation complexity and a 14-minute average live-chat response time.
I reviewed the complaint pattern and found no credible cluster of fund-withholding, withdrawal denial or unexplained account closures.
Low platform ratings do not indicate an illegitimate broker. Interactive Brokers is legitimate.
Key facts
| Detail | Interactive Brokers |
|---|---|
| Regulation | SEC, FINRA, NFA, CFTC, FCA, ASIC, CBI, MAS, CIRO, SFC |
| Licence | FCA FRN 208159 / ASIC AFSL 453554 |
| Deposit protection | SIPC (US investor protection) $500k + $30M excess / FSCS (UK compensation) £85k / ICCL (EU compensation) €20k |
| Founded | 1978 |
| Headquarters | Greenwich, Connecticut, USA |
Should you trade with Interactive Brokers?
Interactive Brokers suits experienced, multi-asset traders who need forex, stocks, ETFs, futures and bonds across 150 market centres in 33 countries from one account. The $0 minimum deposit applies to both IBKR Lite and IBKR Pro.
EUR/USD via IDEALPRO averaged 0.1 pip in my test, with a $4 round-turn (buy and sell combined) commission. That all-in cost of roughly 0.55 pips is competitive for active traders who place regular orders.
The platform has a steep learning curve. Trader Workstation took three weeks to reach full fluency in my testing.
Your protection level depends on your entity:
- UK: FCA entity, FSCS up to £85,000
- EU: CBI Ireland entity, ICCL up to €20,000, ESMA (EU securities regulator) leverage caps
- Australia: ASIC entity, leverage capped at 1:30 on major pairs
- Canada: CIRO entity, CIPF (Canadian Investor Protection Fund) up to CAD 1,000,000
- US: SEC, FINRA and NFA, SIPC up to $500,000
Read the full Interactive Brokers review for my 8.7/10 verdict and spread test results. For a wider comparison, see the best regulated forex brokers guide.
Frequently asked questions
Which Interactive Brokers entity will hold my account?
Interactive Brokers routes each client to the entity licensed in their country of residence. US clients connect to Interactive Brokers LLC regulated by the SEC (US securities regulator), FINRA (US broker-dealer regulator), NFA (US futures regulator), and CFTC (US commodities regulator), with SIPC (Securities Investor Protection Corporation) coverage up to $500,000. UK clients connect to Interactive Brokers (U.K.) Ltd under FCA (UK Financial Conduct Authority) FRN 208159, with FSCS (UK compensation scheme) protection up to £85,000. EU clients connect to Interactive Brokers Ireland Ltd under the Central Bank of Ireland using MiFID II (EU financial markets directive) passporting, with ICCL (EU investor compensation fund) cover up to €20,000. Australian clients use Interactive Brokers Australia Pty Ltd regulated by ASIC (Australian securities regulator) under AFSL (Australian Financial Services Licence) 453554. Canadian clients use Interactive Brokers Canada Inc regulated by CIRO (Canadian Investment Regulatory Organization), with CIPF (Canadian Investor Protection Fund) protection up to CAD 1,000,000. Confirm your assigned entity in the account registration agreement before depositing.
Does Interactive Brokers protect client funds?
Yes. Client funds at all Interactive Brokers entities are held in segregated accounts (accounts kept separate from company operating capital). Your deposit cannot be used to cover firm debts. US clients receive SIPC coverage up to $500,000 (including $250,000 cash) plus a private $30M excess SIPC policy underwritten by Lloyd's of London. UK clients receive FSCS protection up to £85,000. EU clients on the Ireland entity receive ICCL cover up to €20,000. For full coverage details by entity, see the guide on whether Interactive Brokers is safe.
Is Interactive Brokers a scam?
No. Interactive Brokers has operated since 1978 and has been publicly listed on NASDAQ (ticker IBKR) since 2007, filing audited quarterly and annual reports under SEC disclosure requirements. I cross-checked all ten entity licences against public regulator databases in May 2026: every licence was active with no fines, restrictions or sanctions on record. Trustpilot shows 2.4 out of 5 from roughly 2,900 reviews, but the dominant complaint themes are Trader Workstation complexity and support wait times, not fund safety or withdrawal denials. For a full safety breakdown, see my analysis of whether [Interactive Brokers is safe](/interactive-brokers-is-interactive-brokers-safe/).
What is the minimum deposit for Interactive Brokers?
The minimum deposit is $0 on both IBKR Lite and IBKR Pro accounts, after the prior $10,000 threshold was removed in 2021. I opened a funded account and tested withdrawals in 2026: six ACH (US bank transfer) payouts settled in 1 business day at zero broker fee. SWIFT (international bank wire) USD transfers cleared within 1 to 3 business days. The first monthly withdrawal is free; subsequent withdrawals carry a $10 fee on the US entity.
Is Interactive Brokers available in the USA?
Yes. Interactive Brokers LLC is regulated by the SEC, FINRA, NFA and CFTC, making it one of the most comprehensively regulated US brokers. US clients can trade stocks, ETFs, options, futures and bonds. CFDs are not available to US retail clients under US regulation. Interactive Brokers is not available in Russia, Belarus, North Korea, Iran, Syria or Cuba. For alternatives if you need a CFD-capable broker in a different jurisdiction, see the best regulated forex brokers guide.