Interactive Brokers (IB) is one of the top brokers around the world and also one of the most popular among stock traders. Clients have myriad reasons to choose IB as their broker of choice, but one of the main reasons is the ability to trade many stocks with ease from IB’s client portal. This post is a review of the broker’s client portal and why many traders prefer IB over many other brokers.
We have all seen movies about eccentric Wall Street traders with 2 or more screens all showing different data. Such a scene makes one think that trading stocks is complicated and not easy to understand. IB does not share this view, so its client portal is very easy to understand and use. Achieving this feat took the collaboration of smart designers and professional traders to decide what was necessary when trading day-to-day. The truth is that one doesn’t need multiple screens as long as every useful tool is made available and easily accessible.
Interactive Broker’s client portal does just that, by including all trading tools you will ever need to trade while maintaining order and clarity. This makes it easy for every trader to understand the markets from a single portal without the need for a second monitor. Even professional traders enjoy this simple portal because all tools are easily accessible and the portal is very responsive. When trading stocks, time is often crucial and you should not waste any minute, so this client portal is really one of the most attractive features by Interactive Brokers.
Numerous trading tools
There are perhaps millions of traders buying and selling stocks on every given day, which is why the NYSE alone records over 2 billion stock trades every day. Knowing this can be very intimidating, but success comes down to getting an edge over the other traders competing with you. To achieve this, you need to have the latest news announcements on your fingerprints and all the necessary trading tools including technical indicators.
The IB client portal gives you all of these exactly when you need it. That way, all your trades are well informed and you can make better decisions about the markets. Once again, this is thanks to IB’s expertise in the markets and professional market participants, giving you an edge over traders working with other brokers.
Interactive Brokers client portal demo
Everyone knows that trading stocks can be risky, especially when you don’t know what you’re doing. It takes professional traders years to practice the trade and get really good at it, but most retail traders don’t have the same experience. IB understands this, so to help new traders get acquainted with the trading environment and financial markets, a demo is made available on the same client portal.
On a demo, you’re trading the same financial markets as everyone else except that the capital you use is only virtual. This means that you’re not actually risking your money on the trades you make. That gives you the opportunity to see how you can actually trade once you’re ready to make real profits. Besides the appeal to new traders, the demo client portal is also useful to professional traders as well because this is where you can practice novel trading strategies. Supposing you came across a trading strategy on an investment book, rather than putting it into use right away with money on the line, you can try it out on the demo portal and see if it really works.
Is this enough to choose Interactive Brokers?
This review focused mainly on the client portal, but it is definitely a reason to consider IB. Many other brokers find it difficult to balance between functionality and design, but IB has managed to do it. Besides, there are a lot more advantages toward working with IB which you can learn as soon as you start trading on the demo client portal.