General Information & Regulation
This Interactive Brokers is suspected to be a clone one, and operate by a company called Interactive Brokers Group, Inc. Clearly, this Interactive Brokers is unregulated, so traders should stay away from this broker.
Markets Instruments
Tradable financial instruments on the IBRK platform include Stock, ETF, Forex, Fund, Bond, Options, Futures, CFD, Crypto, Warrants, Structured Products.
Minimum Deposit
IBRK does not requires any minimum initial deposit requirements. Although this sounds encouraging, given the fact that IBRK is unregulated, traders are not advised to registered real trading accounts here.
Order Types
IBKR supports a flexible array of order types on the Client Portal and mobile app, as well as over 100 order types and algos on Trader Workstation. One-triggers-other (OTO) orders are supported on TWS with attached orders and on mobile as part of bracket order functionality. With one-cancels-other (OCO) orders, you can choose from and combine logical conditions from price, time, and volume variables (using <, =, > operators), as well as margin cushion, daily P&L, percent change, number of shortable shares, and rebate rate.
What are Clone Brokers？
Clone brokers are on the rise these days, with fraudulent companies setting up shop by using names of reputable companies to trick clients into thinking that theyre trading with a regulated forex firm. They even use the license number of regulated brokers to fool traders into opening accounts with them!
Constant vigilance is key in avoiding falling victim to these scams. Apparently, these firms also employ boiler room tactics by pressuring clients into opening accounts or depositing more funds. If something sounds too good to be true, then it probably is!
