Platform review · Updated October 2026
Interactive Brokers Review UK (2026): Fees, ISA, SIPP and Safety
Interactive Brokers (IBKR) is a global broker known for very low costs and huge market access. However, IBKR started as a broker for professionals, and that shows. This review explains what UK investors really pay, how the ISA and SIPP work, and who IBKR suits best.
- Our rating
- 4.3 / 5 best for large and global portfolios
- UK shares
- £3 per trade, fixed plan
- FX fee
- 0.03% among the lowest in the UK
- Markets
- 90+ stock exchanges worldwide
Our verdict
Unbeatable for large, global portfolios; overkill for small ones
Interactive Brokers has some of the lowest costs in the UK for large trades, US shares and currency conversion. Moreover, it offers an ISA, a Junior ISA and access to SIPPs. However, its £3 UK trade fee, ISA minimum charge and complex platforms make it less suitable for small monthly investors.
Key facts
Interactive Brokers at a glance
| UK company | Interactive Brokers (U.K.) Limited, authorised by the FCA |
|---|---|
| Parent | Interactive Brokers Group, listed on Nasdaq (IBKR) |
| UK shares and ETFs | £3 per trade up to £6,000, then 0.05% (fixed plan) |
| US shares | $0.005 per share, $1 minimum |
| Currency conversion | 0.03%, with a small minimum |
| Platform fee | None |
| ISA | Yes, plus Junior ISA; £3 monthly minimum activity charge |
| SIPP | Via approved third-party administrators |
| Investment range | 70,000+ stocks and 19,000+ ETFs in 90+ markets |
| FSCS protection | Up to £85,000 for eligible claims |
Sources: Interactive Brokers and independent reviews, checked September and October 2026.
Fees
Interactive Brokers fees explained
IBKR charges small commissions instead of hiding costs in spreads or high FX fees. As a result, it gets cheaper relative to rivals as your trades get bigger.
| Fee | Fixed plan cost |
|---|---|
| UK shares, ETFs and trusts | £3 per trade; 0.05% above £6,000 |
| US shares | $0.005 per share, $1 minimum |
| European shares | €3 per trade (most markets) |
| Currency conversion | 0.03% of trade value |
| Platform or custody fee | None |
| ISA activity minimum | £3 a month, offset by commissions |
| Transfers in and out | Free |
What a £10,000 US share purchase costs
Approximate one-way cost including commission and currency conversion, October 2026.
By contrast, small regular buys tell a different story. For example, a £100 monthly VWRP purchase costs £3 at IBKR, or 3%, while Trading 212 charges nothing. Compare your own numbers with our VWRP cost calculator.
ISA and SIPP
Interactive Brokers ISA and SIPP
Stocks and shares ISA
First, the IBKR ISA has no platform fee. However, it carries a £3 monthly minimum activity charge, which your commissions count towards. So if you make one £3 trade each month, you pay nothing extra. Also, the ISA is cash-only, without margin, and transfers in are free.
Junior ISA
In addition, IBKR offers a Junior ISA, which many low-cost apps lack. Its minimum activity charge is just £1 a month.
SIPP
However, IBKR does not run its own SIPP. Instead, you open one through an approved administrator, which charges its own fees. Also, you need prior trading experience and a minimum deposit. As a result, the SIPP mainly suits experienced investors with larger pensions.
Interest on cash
Interest on uninvested cash
Overall, IBKR pays interest on cash, but not on the first £8,000 in pounds. Above that, larger accounts earn a rate linked to the Bank of England base rate. Smaller accounts, by contrast, get a reduced blended rate. So for small balances, a savings account or money market fund may pay more.
Platforms and apps
IBKR platforms: from simple to professional
- IBKR GlobalTrader: a simplified mobile app for buying shares and ETFs.
- IBKR Mobile: the full-featured app with advanced order types.
- IBKR Desktop and Trader Workstation: powerful desktop platforms for active traders.
- PortfolioAnalyst: free tools to track performance across accounts.
In practice, beginners should start with GlobalTrader. Meanwhile, the demo account lets you practise with paper money before risking your own.
Safety
Is Interactive Brokers safe?
The FCA authorises and regulates Interactive Brokers (U.K.) Limited. Furthermore, the Nasdaq-listed parent group has operated since 1978. The firm also segregates client assets, and the FSCS covers eligible claims against the UK firm up to £85,000.
However, protection never covers market losses. Also, crypto held through IBKR has no FSCS cover. Finally, customer service is mainly ticket-based, so problems can take longer to fix than at smaller apps.
Alternatives
Interactive Brokers compared with alternatives
| Platform | UK ETF trade | FX fee | Best for |
|---|---|---|---|
| Interactive Brokers | £3 | 0.03% | Large, global portfolios |
| Trading 212 | £0 | 0.15% | Small, regular ETF investing |
| eToro | £0 | About 0.5% | Copy trading and crypto |
Summary only. Fees vary by account; check each provider.
Who it suits
Is Interactive Brokers right for you?
IBKR suits you if
- You invest larger amounts per trade
- You want shares from many countries
- Low currency costs matter to you
- You want a Junior ISA alongside your own
Look elsewhere if
- You invest £100 or so a month
- You want the simplest possible app
- You value phone support
- You want an easy, low-cost SIPP
Getting started
How to open an Interactive Brokers account
- Apply online. Choose an individual account, or an ISA.
- Verify your identity. Upload ID and proof of address.
- Pick a pricing plan. The fixed plan is simplest for most UK investors.
- Turn on two-factor login. IBKR requires secure login on its apps.
- Fund in pounds. Bank transfers are free.
- Try the demo first. Then place your first real order in GlobalTrader.
FAQ
Interactive Brokers review: frequently asked questions
Safety, accounts and fees
Is Interactive Brokers safe for UK investors?
The FCA authorises Interactive Brokers (U.K.) Limited. Also, its Nasdaq-listed parent is one of the largest brokers in the world. In addition, the FSCS covers eligible claims against the UK firm up to £85,000.
Does Interactive Brokers have an ISA?
Yes. IBKR offers a stocks and shares ISA and a Junior ISA. There is no platform fee, but a £3 monthly minimum activity charge applies, and commissions count towards it.
Does Interactive Brokers offer a SIPP?
Only through approved third-party SIPP administrators. Requirements include previous trading experience and a minimum deposit, and both IBKR and the administrator charge fees.
How much does Interactive Brokers charge for UK shares?
On the fixed plan, UK shares and ETFs cost £3 per trade up to £6,000. Above that, you pay 0.05% of the trade value. The tiered plan starts at 0.05% with a £1 minimum.
How much does IBKR charge for US shares?
US shares cost $0.005 per share with a $1 minimum on the fixed plan. Currency conversion costs just 0.03% of the trade value, with a small minimum.
Using IBKR
Is Interactive Brokers good for beginners?
IBKR can suit beginners who want low costs, especially with the simpler GlobalTrader app. However, its main platforms are complex, and customer support is mainly ticket-based.
Can I buy VWRP on Interactive Brokers?
Yes. VWRP trades on the London Stock Exchange and costs £3 per trade on the fixed plan. For small monthly purchases, a zero-commission app may work out cheaper.
Does Interactive Brokers pay interest on cash?
Yes, but not on the first £8,000 of GBP cash. Above that, larger accounts earn a rate linked to the Bank of England base rate. Smaller accounts, however, receive a lower blended rate.
Is there an inactivity fee at Interactive Brokers?
There is no inactivity fee on the general account. However, the ISA has a £3 monthly minimum activity charge if your commissions fall below that.
Interactive Brokers or Trading 212: which is better?
Trading 212 is cheaper and simpler for small, regular ETF purchases. Interactive Brokers usually wins for large portfolios, international shares and frequent US trading.
Keep reading
Related guides
Sources
Sources
- FCA Financial Services Register
- Interactive Brokers UK – Commissions
- StockBrokers.com – Interactive Brokers UK review (October 2026)
- Campaign for a Million – IBKR UK review (September 2026)
- FSCS – Investment protection
This review is general information, not personal financial advice. We based it on published information. Some links may be affiliate links, which never affect our rating. vwrp.co.uk is independent and not affiliated with Interactive Brokers or Vanguard. Capital is at risk.