Traders Union: Interactive Brokers (IBKR) Reviewed By Trading Specialists

Cyprus, September 27, 2023 /MarketersMEDIA/ -- Forex trading is a great way to earn a profit. On the other hand, choosing the right platform is crucial to a trader’s investment success, and this is where the TU review becomes helpful. 

After evaluating 75 companies in the investment industry using its trusted TU Methodology, Traders Union has placed Interactive Brokers (IBKR) on the sixth spot, with a TU Overall Score of 7.75. 

Interactive Brokers has 42 years of experience under its name, launching in 1977. It offers a wide-range of trading instruments including stocks, Contract for Differences (CFDs), indices, exchange-traded funds (ETFs), and futures contracts, aside from currency pairs. 

IBKR customers have access to over 135 markets in 33 countries, with the platform regulated by the US Securities and Exchange Commission (US SEC), the US Financial Industry Regulatory Authority (FINRA), and the UK Financial Regulatory Authority (FCA).

How Traders Union evaluated Interactive Brokers

Traders Union’s comprehensive evaluation system consisting of over 100 parameters.

These parameters, distributed across five fundamental categories, have been used to evaluate investment companies, ultimately placing Interactive Brokers in 6th place.

• Financial and Economic Viability - experts leveraged 38 criteria to evaluate the financial stability of these brokers, including factors such as solvency, trade growth or decline, and the current economic health of the company.
• Reliability - a total of 27 criteria have been used to assess the level of trustworthiness exhibited by each broker, taking into account their reputation since launch and overall customer satisfaction.
• Security of funds - experts examined 18 criteria to gauge the safety of funds held in the broker's accounts, including the presence of licenses and adherence to regulatory standards.
• Trading Conditions - through the analysis of 15 criteria, experts assessed how well the trading conditions offered by each broker align with real-world scenarios.
• Client Service - TU evaluated the quality of technical and customer support provided by the platform using nine focus areas

The TU Overall Score

Traders Union's TU Overall Score was devised by TU analysts with the primary aim of simplifying the process of identifying secure and trustworthy brokers for traders.

The scoring has a straightforward principle: the higher the score, the greater the level of trustworthiness shown by the broker.

• Brokers with scores ranging from 8.0 to 10.0 - are regarded as the most dependable platforms within the Forex market. Traders Union experts strongly recommend opening and funding an account with these platforms.
• Brokers with scores from 7.0 to 7.99 - are considered highly reliable and deserving of trust. Traders Union experts have observed that these platforms are just one step away from being highly trusted.
• Brokers with scores from 5.0 to 6.99 - are categorized as mid-level companies that are generally reliable. Traders Union experts advise traders to conduct thorough research before deciding to open an account with them.
• Brokers with scores from 3.0 to 4.99 - pose a significant level of risk. Traders Union experts recommend thorough analysis before considering the possibility of opening an account with them.
• Brokers with scores from 2.99 or lower - do not fare favorably when compared to their better-ranked counterparts. Traders Union strongly advises against engaging in trading activities with these platforms.

Traders Union experts advise using Forex demo accounts 

Before going all in, Traders Union experts highly recommend using Forex demo accounts to avoid losing money while getting started. 

Here are the Top 7 Free Forex demo accounts, as determined by TU.

1. Roboforex - best MetaTrader demo account
2. Exness - best for advanced Forex trading demo
3. IC Markets - best ECN demo account
4. FxPro - best for demo CFD trading
5. eToro - best free stock trading
6. Oanda - best demo account for unlimited Forex trading
7. XM - best for Forex education
   

About Us: Traders Union is a financial portal providing traders and investors with necessary information to make their endeavors in the financial markets profitable. Our mission is to build a space where traders and investors can quickly find information about the best brokerage companies that offer the most beneficial and comfortable working conditions in the financial markets.

Contact Info:
Name: Peter Halt
Email: Send Email
Organization: Traders Union.
Phone: +35725060055
Website: https://tradersunion.com/

Release ID: 89108510