Any intelligent person would not get on to the online portal after knowing how vicious can it get for traders. The interactive Brokers stands for a red flag. It should alert investors when they hear the name. The brokerage firm is a scourge for market players who do not have any guidance. The brokerage company is a nemesis for those who support the right ways for trading and do not evade taxes. It takes wrong paths and forces newbie to experience traders to give up on the sheer amount of profits. So, if you want to adopt sanity, then read the Interactive review 2021 and decide for yourself how it is hazardous to your money and mental peace.
Poor UI design and dire outlook
When you see the website for the first time, one thing that strikes your mind is the absurdity and tacky look that it adorns. First of all, on top of the portal, you can check a warning of initiating migration process is written by the broker. It is unnecessary and not required. But the company wants to trouble its users and make them do it to trade their important information in the meanwhile. It will only kick-off hassles for market players instead of offering them respite that they need during financial transactions.
The combination of red and white spears eyes and distract onlookers. It seems like the website has been created haphazardly for some ulterior purpose of cheating. These are the tricks mostly formulated by cheapskate brokerage firms. They are in a hurry because their main aim is the public’s money and not offering them the best possible trading experience.
Moreover, the design is so bad that you do not find important tabs and information. The website carries some other types of statics that seem forged up than authentic. The categories are not well placed. And the home page of the interactive Brokers does not give a feel of a broker but some betting site. Suspicion is written all over it. Plus, the broker has compromised with vital information while creating other pages.
Interactive Brokers safe or not?
The broker raises a suspicion case because there’s no proper mention about registration number, license number, and regulatory body governs the activities. It is dealing on its own which violates rules of trading. What is the guarantee of investors’ money then? The brokerage firm would run away taking all funds, but a trader can never file a complaint because there’s no affiliation.
One can keep on searching for headquarter, but there’s hardly any information regarding it. Moreover, the website confuses people with multiple addresses in different countries. It is not how an authentic broker performs. There should be a central authority looking after it all so that the fraud broker gets nabbed. Also, the news of defrauding cases against the Interactive Brokers create objections.
Missing customer care service
Like every bad brokerage firm, Interactive Brokers has flimsy customer care and a record that makes a client victim of the worst kind of service. Firstly, no one takes up the call even after multiple attempts. One may try for the entire day or a week. Hence, the waste of time that happens here is shocking. Furthermore, there’s no one a trader can complain about such an act of irresponsibility because only genuine brokers like T1Markets, PrimeFin, and ABinvesting can offer these services.
Thus, there’s no resolution of issues, as the focus of imposters is on the money, why they resolve any issue? Interactive Brokers is part of the biggest problem. Moving further, the chat room option is as vague as the website itself. There’s no help either. The assistant does not work. Also, the user guides option and email are there like a vase in a showcase. Besides, the FAQs do not offer any satisfactory answers either. They are out of sync and queries that aa general investor may ask. It all looks like some untidy tale.
In short, there’s no way a customer can communicate the problem during registration or trading in the market. Laughingly, the report a problem section has issues in itself. It does not comply with clients.
No trading account
The missing priority is dangerous precedence that Interactive Brokers set for its users. A trader does not find any account types which leaves him/her with zero options to choose. So, there’s no point in registering on a platform that does not have alternatives for different types of traders. Not everyone is a novice or experienced.
The growth opportunities cease to exist this way. However, the brokerage firm does not care because it needs the money coming in for its luxuries and bad ideas. On registration, a trader gets exposed to set rules, where he/she becomes a puppet in the hands of Interactive Brokers.
An investor cannot decide which tools to use or have an option of selection. That stitches the hands and of the market player, and the broker can easily loot the client. That’s the plan. So, save your funds and do not interact with the Interactive Brokers.
Not updated education material
The education material that the broker exhibits on its platforms does not seem genuine or authentic. It is all a cut, copy and paste job. The brokerage company appears to have copied everything from other brokers, and that does not comply with what’s mentioned on its portal. It’s an apparent breach of trust. How would a trader deal further with the so-called broker?
Even if someone believes the outdated information, the potential loss cannot be imagined because based on knowledge, traders and investors create their strategies of investment. Also, ways of trading change daily on different instruments and financial assets.
Thus, if a client receives misinformation, then the mishap is waiting to happen. So, one more reason, that defines why the Interactive Brokers doesn’t deserve anyone’s attention, time and money.
Interactive Brokers: Hidden charges
There are fees and commission which remain hidden like an agenda with Interactive Brokers. A customer has to mandatorily pay heavy levies every time he/she trades in the market. So, the weightage of funds is too much to handle for everyone. Moreover, there is no intent of decreasing it. However, the broker may increase it. Thus, it raises serious questions on its transparency policies, which is a must for good a broker, which Interactive Brokers is not.
Doubtful withdrawal and deposit
After in-depth analysis and research of the website, one cannot conclude about a decent way of depositing funds. The options lead to only losing your funds midway while depositing them. There’s no policy regarding it mentioned on the web portal for trading.
Improper research tools
If you accidentally create an account on Interactive Brokers, then you’ll have to face the problem of no proper research tools. Instead, one will have to drop the idea of trading with the broker.
Interactive Brokers is doubtful. The brokerage firm does not share complete information hides pivotal knowledge that a trader needs to know while trading on it. Brokers like Global Trade ATF, ROinvesting, 101invsting are class-apart options which stand by the side of investors from different brokers.
Plus, Interactive Brokers does not tell about the minimum or maximum deposits, and there are no provisions for beginner traders, which is highly disappointing.
Be the first to leave a review.