Interactive-Broker (Clone) has been flagged by Financial Services and Markets Authority for "Registered/Licensed entity impersonators". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Opened my account with Interactive-Broker (Clone) after attending a webinar they hosted and regretted it within the first month. The platform crashed during a critical moment, I lost potential gains, and support basically told me it was not their problem. Absolutely unacceptable behavior.
Pros: Instant funding|Intuitive for beginners|Clean UI
Cons: Limited demo account features
Interactive-Broker (Clone) advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Easy withdrawals|Segregated accounts
Cons: Minor UI glitches occasionally
Interactive-Broker (Clone) seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Regular platform improvements|Responsive team|Easy withdrawals|Multi-device support
Cons: Wish they had more educational resources|Help articles are sometimes vague
I requested my data from Interactive-Broker (Clone) under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Low minimum deposit|Portfolio tracking tools|High security standards|Educational resources
Cons: Currency conversion fee exists|No dark mode on mobile