Interactive Brokers is an international trading platform with a base of more than 600,000 clients. Every day it attracts thousands of potential users. However, a part of them leaves without registration as they get puzzled by its complicated minimum deposit rules. Yet, when you read our guide up to the end, you will see that there is nothing complicated about it.
First of all, we must highlight that this service has different rules for different categories of clients. In general, for most users, there are no initial deposit requirements. But there are a few exceptions. So, those who want to create broker accounts must make a deposit of $10,000 within 8 months after registration. Besides, starting from the ninth month of use, they have to pay a monthly commission of $2,000. An Interactive Brokers minimum deposit for proprietary trading group accounts is $10,000. And, margin account owners must have at least $2,000 in their balance.
Another related issue is deposit fees. The good news is that there are no commissions for EFT, check, and wire deposits. If you want to trade USD and CAD, be ready to pay 1% (a minimum of $50) for depositing cash. Also, we must mention that users from Mexico must pay $100 for wire transactions.
One more point many clients are interested in is deposit currencies. In fact, this exchange is a perfect variant for those traders who use currencies other than US dollars. They accept 23 currencies, which means you will not have to waste money on conversion. For information, as a rule, other similar services accept a few currencies only.
Speaking about payment methods, you can choose between wire transactions (1–4 business days) and payments by cards (instantly).
Also, clients can take advantage of one free withdrawal per month.