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Interactive Brokers Minimum Deposit

Interactive Brokers Minimum Deposits

 

Overall Rating

4.9/5

Rated #41 of
Recommended FX Brokers

💰Minimum Deposit

🌐 Regulators

FCA, ASIC, NYSE, SEC, FINRA, IIROC. Regulated in Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, UK 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

The Interactive Brokers minimum deposit amount to open a real trading account is 0 (zero) US Dollar.  The Minimum Deposit for 1st-time traders might vary based on the trading account type selected. Deposit activation can be up to 72 hours

They have a comprehensive offering and due to the various accounts, generally, there is no minimum deposit amount but there are however some accounts that require a minimum deposit (Professional trader-tailored accounts), such as:

  • Margin: minimum deposit of US Dollar 2,000 which is equivalent to ZAR35,176.60 at the current exchange rate between the US Dollar and South African Rand on the day that this article was written.
  • S and non-U.S residents who have an account carried by IB LLC or IB UK and who are Pattern Day Traders will have to make a minimum deposit of US Dollar 25,000 or currency equivalent of ZAR449,650 at the current exchange rate of US Dollar 17.99/ZAR1.00
  • Portfolio Margin – minimum deposit of US Dollar 110,000 or ZAR1,978,460.00 at the current exchange rate of US Dollar 17.99/ZAR00

They are based in Greenwich and the U.S, authorized and regulated by the strictest regulating entities namely US SEC & CFTC, ASIC, FCA, and regulated in Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, UK.  As a regulated broker, one of the requirements is that client funds be kept in segregated accounts.

In complying with this, amidst several other strict rules and regulations, all client funds must be kept separate from the broker account, and it can only be used by traders to conduct trading activities.

In addition to ensuring client fund security through segregated accounts, regulated brokers such as Interactive Brokers are required to be a member of a compensation scheme or fund which pays out a certain amount to eligible clients in the case of company insolvency.

 

Deposit fees and deposit methods

 

They do not charge any fees when deposits are made into the trader’s account. Traders can use the following methods through which traders can deposit funds into their trading account:

  • Bank Wire Transfer
  • PayPal

 

There is no clear indication of the specific deposit currencies that they support, but it is safe to assume that most currencies such as USD, EUR, GBP, and CAD will be accepted.

Transactions in other currencies may be subjected to conversion rates, traders will need to verify this with Interactive Traders before opening an account.

 

There are, however, withdrawal currencies indicated which can be used depending on the payment method used when requesting a withdrawal, these include, but is not limited to:

  • USD
  • CAD
  • MXN
  • CHF
  • EUR
  • GBP, and several more

 

Step by step guide to depositing the minimum amount

 

They do not require a minimum deposit when opening a live account, but should the trader wish to fund their account, they will either have to do it from their Client Portal or by using the trading platform that they chose to use.

 

Overall Rating

4.9/5

Rated #41 of
Recommended FX Brokers

💰Minimum Deposit

🌐 Regulators

FCA, ASIC, NYSE, SEC, FINRA, IIROC. Regulated in Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, UK 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Pros and Cons

✔️PROS ❌CONS
Deposit fees are not charged Deposit currencies not indicated specifically
Variety of deposit methods

 

You might also like: Interactive Brokers Sign Up Bonus

You might also like: Interactive Brokers Demo Account

You might also like: Interactive Brokers Fees and Spreads

You might also like: Interactive Brokers Account Types

 

FAQs

 

What is the minimum deposit for Interactive Brokers?

They do not have a specified minimum deposit.

Professional accounts, however, have certain minimum deposits depending on the account that the professional trader opens.

 

How do I make a deposit and withdrawal from Interactive Brokers?

You can make use of the following payment methods to deposit or withdraw funds:

  • Bank Wire Transfer
  • PayPal

 

Does Interactive Brokers charge withdrawal fees?

The first withdrawal is free, thereafter traders will be charged per withdrawal depending on the size of the withdrawal and the method of payment.

 

How long does it take to make a withdrawal?

  • Bank Wire Transfer – can take from a day to several days.
  • PayPal – depends on your on your banking institution.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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