Interactive Brokers (IBKR) is a comprehensive brokerage platform that caters to a wide range of investor needs. It stands out for its extremely low fees, extensive product range and powerful research tools, making it an excellent choice for Australian expats in the UAE.
IBKR offers access to multiple global markets, allowing investors to trade stocks, ETFs, options, futures and various other assets worldwide. While the platform might seem complex for beginners, its advanced features and competitive pricing make it worth the learning curve in our opinion.
One of IBKR’s standout features is its industry-leading margin rates, which can be particularly advantageous for experienced investors. Additionally, for accounts with a net asset value of AUD $15,000 or more, IBKR pays interest on cash balances, enhancing overall returns.
The platform offers a tiered pricing structure that can result in even lower fees for high-volume traders. However, Australian expats should note that currency conversions incur a 0.2% fee for volumes below $US1 million, which is low compared to many other brokers.
While IBKR’s account opening process may be more complex than competitors, the platform’s robust security measures and regulation by top-tier financial authorities (including the SEC in the US and the FCA in the UK) provide peace of mind. Forbes Advisor Australia also tested the telephone support and got onto a helpful representative in under 10 minutes.
Overall, IBKR is an excellent choice for Australian expats in the UAE who are looking for a sophisticated trading platform with access to global markets, low fees and advanced tools.
