Do not recommend. Contact via phone is also impossible even you hang for hours. The problem is that Client Portal does not work. In late 2014, IB finally delivered on their promise to offer RRSPs and TFSAs to Canadians. I went to buy it - interactive brokers failed (as do all transactionson my account due to some bug). Interactive Brokers Canada began in December 2000 to provide Canadians with direct and high-speed access to trade in markets around the world. The positive thing about it is that I have access to Client Portal. Anyone use interactive brokers here? Vision. 300% in 1 day (the ticker is $BLSP and it happened the day of this review). My suggestion is find another broker. Website is made of buggs - can't do anything - trying to it says unknown error. Waiting (in Europe) in line to get someone on the phone for like 10+ hours. I am giving IB another couple of days. 65% Upvoted. A free inside look at company reviews and salaries posted anonymously by employees. Pre-qualified offers are not binding. Check out this Interactive Brokers Review and see how you can buy stocks from around the world. When something goes wrong on hold hell. Total nonsense. I am also hoping that Interactive Brokers look into these reviews … 230 Interactive Brokers reviews. In this section of my Interactive Brokers Canada review, I will give you real-life examples of user experience with the platform. It is time to give my honest review of Interactive Brokers. Live hat is useless and providing them information will not result in getting your application open. By email? Brokers Home. While the Interactive Brokers website gives its iOS/Android app glowing reviews, it is easy to see users do not precisely agree. Interactive brokers. 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. I am giving Interactive Brokers a 1 star because I can’t give them a negative rating! After 3 weeks still unable to access the account and get back my prefund. Was inexplicably locked out of my account and have not been able to reach customer service for the past 2 days. After a week, they hadn't replied. Awful customer service. However this time I feel compelled to do it so that other people make the right decision before becoming opening a new account. They told me that they have "delays" because they're busy. It became the first zero-commission platform to trade ETFs and stocks in Canada when it launched. Interactive Brokers does not charge a deposit fee. Removing reviews.. well done IB. Now I'm going backwards and forwards because they can't handle a simple transfer and it's impossible to speak to anyone. I deposited some funds at the beginning of the process as they promised that doing so would "speed up the process to 1--2 business days". The customer service is non-existent. I am very disappoint as a client . Interactive Brokers is considered low-risk, with an overall Trust Score of 94 out of 99. Pro customers do have to pay commissions on U.S.-listed (and foreign-listed) stocks and ETFs. There is no such a thing as email for customer support. Additionally, the range of products is very good in my opinion. Qtrade, not to be confused with Questrade, is another discount broker product available to Canadians. 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. For more information about “Interactive Brokers Canada … We are sorry that we failed to meet your expectations. Two 40 minutes calls on hold and multiple unanswered support tickets later, I'm done with them. We are sorry that we failed to meet your expectations. If i don’t update the information, they won’t let me trade again. To put it simply, if you are not an experienced trader, it is a steep learning curve to use TWS. Unfortunately, the IBKR Lite is not available to Canadians. If you cannot figure out how to use the platform, you might find it useless to help you. Not sure how the regulator in Ireland gve them a licence. Last updated Jan 5, 2021. The worst broker - DON'T JOIN THEM The worst broker experience I have ever encountered. 2020 update: While IB are going … Can't withdraw the funds myself either. Canadastock.ca is commited to providing quality stock data and analysis to Canadian investors and those living abroad. Worst onboarding experience ever. Simple as that.My account is blocked for about two weeks after migration from IBUK to IBCE. Online discount brokers with a long-standing reputation like Interactive Brokers might be worth considering. I was recommended few weeks ago by a friend to join IBKR. 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. save. i have had an existing ira count with IB for over a decade with no problems. Simple as that. They block my account because I don't update my MiFir 2 form but this is impossible to do because they provide buged www site with this form (after click of continue button nothing happen only site is refreshing). The platform decreases the commission depending on the volume, exchange, regulatory, and clearing fees. Interactive brokers. The worst service I've ever experienced from any company in my life. Are you interested in investing in a portfolio of securities with reduced exposure to risk? Wouldn't suggest this broker to my worst enemy. Chat not working , email not working , website full of bugs nothing responding. 19 4 minute read. I found mostly positive reviews, while some users were disappointed. Despite this contradiction, IBKR Lite does offer a good value with … It offers you access to several sophisticated research tools and metrics to help you make well-informed trading decisions. I have funded my accounts with my life savings over there few weeks ago and have try to make trades nothing works keep recieving error messages. You'll know by the end of this video. I WILL NEVER JOIN THIS SCAM COMPANY THAT ASK YOU DEPOSIT MONEY BEFORE APPROVE YOUR APPLICATION! Great broker despite client support issues, I am giving Interactive Brokers a 1 because of terrible support, Terrible support - can't handle simple position transfer, fail to reply. For casual investors, I would recommend using a more straightforward platform. When evaluating offers, please review the financial institution’s Terms and Conditions. Reaching to your support is like hard mission. You can open several types of accounts with Interactive Brokers Canada that can cater to a variety of financial goals you may have: The type of account you open with the platform can vary depending on your investing goals. Sort by. 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. Your email address will not be published. I have transferred significant money into my account and yet when I try to buy a share it says I have zero cash balance - even though the p&L shows a five figure sum. You can check out a more comprehensive review of Questrade here. I confirm that IB did fix the Client Portal issue and I was able to update the information required for being MIFIR compliant. Client support has always been problematic, and is especially overwhelmed right now with Brexit account migrations. Many customers have complained about the horrible customer support from the platform. Terrible customer service and no ability to talk with someone on the phone. A winner of several awards in the industry over the years, is regulated by several authorities and is a member of the NYSE Financial Industry Regulatory Authority (FINRA), Securities Investor Protection Corporation (SIPC), and regulated by the US Securities and Exchange Commission (SEC). It takes over 40 minutes to get in touch with customer service, and once you have, they make you hold the line and try to avoid responsibility. I see that my situation is not unique. There is no possibility to contact with them because I have blocked access to account managment (can't send ticket or chat). The issue started when IB interrupted my trading and asked me to update some information in Client Portal with regards to MIFIR regulation. I am still on the account opening process for over a month - and now they're not even responding to my emails. Interactive Brokers (IB) is an excellent broker. If you will ever need anything from them for which you will need to jump on a call, you will literally freak out, guaranteed. Interactive Brokers Canada Review 2021: Global Market Trading Platform. In Canada, it is a member of the Industry Regulatory Organization of Canada (IIROC) and the Canadian Investors Protection Fund (CIPF). opened an acoount. You can check out my Wealthsimple Trade review to get a better look at the platform. Interactive Brokers has the dubious distinction of being the only major online broker that allows you to buy fractional shares but doesn’t allow you to reinvest your dividend in … Interactive Brokers Review Summary It seems that a paradox has been discovered: Interactive Brokers is designed for professional-level traders, but IBKR Lite is designed for basic trading. Interactive Brokers does not have a minimum account balance required before you can start trading with the platform. I spent literally 4 hours on the phone in the past last week trying to get hold of someone to solve my issue, but to no avail. The support couldn't provide even the approximate processing times. Interactive Brokers Canada’s fixed charges see a fixed low commission per share or a set percentage value of the total trade amount. And the worst thing is that there is no other way to contact them. Be prepared to wait 1-2 hours on the phone and then be spoke to by a rude customer service agent. Outrageous experience!UPDATE: Thank you for paying attention to my complaint and for the swift response. This post may contain an affiliate relationship with companies that Wealth Awesome believes in personally. This is by far the worst experience I’ve ever had in 25 years of investing. The platform offered by Interactive Brokers is called the Trader Workstation (TWS), and it supports trading of any kind of equity you can imagine, including global assets. 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. I know this isn't how transfers how - they need to send a transfer form first. Edit: They also aggressively flag the reviews here, which forces Trustpilot to make you jump through hoops. Summary: Looking for a cheap way to invest in global markets? Kat Peach January 6, 2021. Absolutely appalling service, considering moving away from IB. 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! All financial products, shopping products and services are presented without warranty. I put $1,000 in. Qtrade is a product suitable for Canadian investors who want to focus on Canadian and US markets. Interactive Brokers Review. Eventually, I found out that they had already declined the transfer because it had gone "stale" while they took their sweet time to consider it. Interactive Brokers Canada allows you to capitalize on its proprietary ‘SmartRouting’ technology to search for and avail the best market prices, connecting to 125 markets in 31 countries. 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. If you want to know more about Interactive Brokers fees, check out the fee chapter of our Interactive Brokers review. Offering is available with Interactive Brokers AU - located in Australia, regulated by the end of this interactive brokers canada review.... 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