Interactive Brokers Minimum Deposit Guide (2022)

logomark Anthony Gallagher calendar Last Updated: January 2022 timer 6 min read

Interactive Brokers is one of the best-respected names in the industry. Considering trading with them then be sure to check out our full Interactive Brokers review for all the information.

Here we will focus on the Interactive Brokers minimum deposit. What to expect, and how much you will need. We will also take you through getting your account open and making a deposit step-by-step.

Let’s get started.

Table of contents

What is the Interactive Brokers Minimum Deposit?

Interactive Brokers minimum deposit depends on the account type choice. There is a no requested amount for Cash accounts, a $2,000 requested amount for T Reg Margin Accounts, and a $110,000 requested amount for Portfolio Margin Accounts.

IBKR minimum deposit Features
Minimum deposit From $0
Deposit fees Only for Mexican clients
Withdrawals fees Yes, depending on the country and payment method
Base currencies AUD, CAD, CHF, CNH, CZK, DKK, EUR, GBP, HKD, HUF, ILS, INR, JPY, MXN, NOK, NZD, RUB, SEK, SGD, USD

Interactive Brokers Deposit Bonus and Promotions

Currently, IBKR does not offer any bonus. This is besides their refer a friend program. This has some criteria that you need to meet including having a net liquid value of at least $2,000 and having placed at least one securities trade.

You can then earn up to $200 for each referral while the friend can earn IBKR stock up to the value of $1,000. This incentive is not available to financial advisors, hedge funds, introducing brokers, or proprietary trading firms. Nor is it open to residents of Japan, Spain, Israel, and clients under the Singapore entity. There are also other conditions that you can confirm through the broker website or contacting them directly.

The IB's refer clients program

How to Deposit Funds into Your Interactive Brokers Account

Here is a step-by-step look at how you can get started with making your first deposit to Interactive Brokers.

1. Open an Interactive Brokers Demo Account First

The very first step will be to get your account open. You can visit the Interactive Brokers website to do this and also open an IB demo account (74-89% of retail CFD accounts lose money). This is a great way to get to know any broker and you will have $1,000,000 in virtual funds available to trade.

For more information on the demo account, you can check out our Interactive Brokers demo review.

2. Choose the Account Type You Wish to Open

Once you are ready, you can choose between the different live account types at your disposal. These include individuals and corporate accounts, as well as cash and margin accounts. You should choose the one most fitting to your circumstances.

To get to know more about each account type, you can read our Interactive Brokers account types review for more.

3. Verify Your Identity with the Broker

During the process of opening a live account with the broker, you will need to pass verification. This means verifying your identity ideally with your passport, and residence preferably with a bank statement or utility bill. Both documents can be conveniently uploaded online and are usually approved quickly within 1-2 days at most.

4. Choose Your Preferred Deposit Method

When you are verified and ready to make your first deposit, this is as simple as choosing the payment method you wish to use from your funding page and making a deposit. We have gone through all of the various payment methods below.

5. Wait for the Deposit to be Processed

With your deposit made, it is as simple as waiting a short time for your deposit to be processed and your account credited. This time will depend on the funding method you use. You will be then ready to start trading.

Interactive Brokers Payment Methods

Mentioning payment methods, you will find many available with the broker. These include all of the following, bank wire transfer, check (all checks, including retirement checks), online bill payment, Canadian bill payment, Automated Clearing House (ACH), ACH transfer initiated at your bank, Canadian electronic funds transfer (EFT), Direct Rollover (IRA), Trustee-to-Trustee (IRA), and BPAY (for Australian traders). The availability of the methods depends on the regulation you’re trading under.

Funding with credit/debit cards is not accepted by IB. The exception here comes if you’re a US or Canadian client. In this case, you can get an IBKR MasterCard that will allow you to fund your account, but you still can’t use your existing card.

Deposit Fees

There is no Interactive Brokers deposit fee with the exception of Mexican traders who, after a free monthly deposit do have to pay a 100 MXN fee. You may also incur a small conversion fee if you are depositing non-base currency. Finally, if your deposit is less than $2,000 then a commission is possible.

From your bank or payment provider side, they may charge a fee. This is something you should double-check with them first.

Withdrawal Fees

When it comes to withdrawals, IB allows for one free withdrawal per month. After that, a fee will be charged which depends on the currency, and your location. You can check the table below for more information.

Withdrawal currency Withdrawal fee
US dollar 10 USD
Canadian dollar 12 CAD
Mexican peso 100 MXN
Swiss franc 11 CHF
Euro 8 EUR
British pound sterling 7 GBP
Hungarian forint 6000 HUF
Russian ruble 330 RUB
South African rand 200 ZAR
Australian dollar 15 AUD
Chinese Yuan 60 CNY
HK dollar 95 HKD
Japanese yen 1600 JPY
NZ dollar 15 NZD

Interactive Brokers Accepted Base Currencies

Many base currencies are accepted by Interactive Brokers. These include the AUD, CAD, CHF, CNH, CZK, DKK, EUR, GBP, HKD, HUF, ILS, INR, JPY, MXN, NOK, NZD, RUB, SEK, SGD, and USD. The availability of these will depend on your location, and where you are regulated.

As mentioned, if you deposit a non-base currency, you may be charged a conversion fee.

Interactive Brokers Minimum Deposit Pros and Cons

Pros

  • There is no minimum deposit required for cash accounts
  • An excellent number of base currencies are offered
  • Multiple payment methods are made available.

Cons

  • No credit/debit card payments are accepted besides the company Mastercard
  • The minimum deposit for margin accounts is quite high

Interactive Brokers Minimum Deposit FAQs

Can anyone open an Interactive Brokers account?

IBKR is available in many countries and offers its service to many clients. Though, remember there are still some areas in the world where service is not offered. You can check our full Interactive Brokers review to see more information on these areas.

Can non-US citizens Open an Interactive Brokers account?

Yes, they can. IBKR is regulated by both the SEC and the CFTC with services available and popular in the USA among traders.


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About the Author

Anthony Gallagher

Broker Expert

Anthony is a financial journalist and business advisor with several years’ experience writing for some of the most well-known sites in the Forex world.

A trader turned industry writer, he is currently based in Shanghai with a finger on the pulse of Asia’s biggest markets.

He is a keen golfer with a very high handicap so when not helping you find the best broker for your needs, you may find him on the course or just as likely following any number of sports from the comfort of his sofa.


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