HomeInvestingCommission Free Interactive Brokers account: IBKR Lite
Commission Free Interactive Brokers account: IBKR Lite
3 November 2019
What is IBKR Lite
IBKR Lite account is the latest offering by Interactive Brokers. It offers unlimited, commission- free trading on US exchange listed stocks and Exchange Traded Funds (ETFs). IBKR Lite account is a low cost trading account because there is no account minimums to maintain or inactivity fees.
IBKR Lite pays competitive interest on your idle cash balances and offers low financing rates for borrowing against your account i.e margin loan.
This new offering will complement Interactive Brokers existing account, which is re-branded as IBKR Pro.
Disclosure: Some of the links below are affiliate links, meaning, at no additional cost to you, I will earn a commission if you click through to make a purchase.
Through the Interactive Brokers Client Portal. Your first three requests for reclassification will be processed on the Friday following your request. After three reclassifications, subsequent reclassifications will be processed on a quarterly basis.
Comparison Between IBKR Pro vs IBKR Lite
Screenshot taken from IBKR site
IBKR Pro is a legacy IBKR pricing plan designed for the active trader and sophisticated investors.
IBKR Lite is a hassle free trading account recommended for investors who do not trade frequently and does not require sophisticated features from Interactive Brokers platform to perform analysis and backtesting on trades. Do note that the commission free trading only applies to US Exchange listed stocks and ETFs. The commission free cost for trading US Exchange listed stocks and ETF and zero charges for inactivity is definitely an attractive option to many of us.
However, if you are looking to trade outside the US market and if you are a sophisticated investor who requires access to the Trader Workstation (TWS) a desktop application for in depth analysis, IBKR APIs and Algos then IBKR Pro account will be more suitable for you.
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