Many people have been nervous of using Interactive Brokers because the company is based in the US. It has clarified estate tax and fund/ETF domicile issues on record in the past few days, so I wanted to pass the info on to you and reassure you.
Interactive Brokers used to charge $10 per month. As of July those fees are gone, leading to less confusion and fewer reasons to avoid jumping in and getting started. Let’s have a look at the implications.
Interactive Brokers is by far the cheapest brokerage for people living in developing countries. I use them myself (and I don’t have any further affiliation with them). They are large, well-capitalised and secure. The extra capital protects them against shocks, unlike Robinhood which had to scramble to raise money in January. But what would happen to your money if IB failed?