Interactive Brokers | NEWs @ IBKR Vol. 20

News @ IBKR

2023 - Volume 20

IBKR Advantage

Trade Popular US Stocks
and ETFs Around the Clock

With Overnight Trading Hours on the IBKR Eos ATS ("IBEOS"), clients can trade dozens of US stocks and ETFs around the clock, five days per week. IBEOS provides our global client base access to US stocks and ETFs when market-moving news happens and lets you trade during Asian market hours or whenever it is convenient.

Overnight Trading Hours are from 8:00 pm ET to 3:50 am ET, with the first session beginning on Sunday at 8:00 pm ET and the last session ending on Friday at 3:50 am ET and trades executed between 8:00 pm ET and 12:00 am ET will carry a trade date of the following trade day.

Clock

All clients with US Stock trading permission will have access to US Overnight Trading and can take advantage of multiple order types and free overnight market data.

For a full listing of the available stocks and ETFs, please refer to the exchange listing page.

All clients with US Stock trading permission will have access to Overnight Trading on IBEOS and can take advantage of multiple order types and free overnight market data. If you would like to request US Stock trading permission:

  1. Log in to Portal
  2. Click the User (head/shoulders icon in the top right corner) > Settings menu
  3. Click Settings
  4. Click Trading Permissions
  5. Click StocksAdd/Edit
  6. Click "United States"
  7. Click Continue
  8. Review and Confirm Your Selection
  9. Review and/or Sign Disclosures
  10. Click Continue

Please note that trading permissions are typically approved overnight.

Any discussion or mention of an ETF is not to be construed as a recommendation, promotion or solicitation. All investors should review and consider associated investment risks, charges and expenses of the investment company or fund prior to investing. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

IBKR Advantage

IBKR Clients Earn Up to USD 4.58% on Instantly Available Cash Balances

As an Interactive Brokers client, you are likely aware that client accounts receive credit interest on positive settled cash balances.1 After recent increases in interest rates by the US Federal Reserve, Interactive Brokers now pays up to USD 4.58% on positive settled cash balances.2

Accounts with a Net Asset Value (NAV) of USD 100,000 (or equivalent) or more are paid interest at the full rate for which they are eligible. Accounts with NAV of less than USD 100,000 (or equivalent) receive interest at rates proportional to the size of the account.

For example, an account with a NAV of USD 50,000 earns credit interest at a rate equal to one-half the rate paid by IBKR to accounts with a NAV of USD 100,000 or more.

Interest accrues and is payable daily. IBKR posts the interest payments monthly on the third business day of the following month. IBKR uses a blended rate based on the tiers outlined on our website. The tiers on which interest rates are based are subject to change without prior notification.

For balances held in CHF, DKK, EUR or SEK, IBKR may apply an effective negative rate to long balances held. The negative rate applied to accounts holding these currencies is the same regardless of account size. For other currencies in which the benchmark rate plus the interest rate paid is less than zero, the interest paid is 0%.

[1] Rate shown applies to IBKR Pro clients only. Positive settled cash balances held in the securities segment of accounts with NAV>100k earn the stated interest rate (May 5, 2023) and those with NAV<100k earn a proportional rate. Cash held in the commodities segment of an account does not earn interest. For more information, visit our website.

[2] Rate as of May 5, 2023. Restrictions apply. For additional information on interest rates click here.

EXPANDED OFFERING

PortfolioAnalyst

Introducing PortfolioAnalyst® 3.0

consolidate track and analyze your complete financial performance.

Major Upgrades for PortfolioAnalyst,
Including a Dynamic Analytics Dashboard

PortfolioAnalyst offers multi-custody solutions, advanced reporting, global support, benchmarks, risk metrics, GIPS® verified returns,1 and powerful on-the-go analytics. Whether you are new to trading, an advanced investor, or a financial advisor, PortfolioAnalyst is free to use.

PortfolioAnalyst consolidates, tracks, and analyzes your complete financial performance. Link your investment, checking, savings, annuity, incentive plan and credit card accounts to understand your current and historical financial state and plan for the future.

IBKR clients enjoy free access to PortfolioAnalyst's advanced features and receive real-time updates about their IBKR portfolio positions.

In March, we rolled out a major platform upgrade that includes an updated, modern look and feel, as well as an integrated, real-time reporting dashboard with snapshot views of a broad range of charts and tools. Now you can quickly drill into GIPS® verified performance reports and analyze portfolio movers, allocations, risk measures, position concentrations and more without downloading PDF/CSV reports.

To use this new feature, log in to Portal, click on Performance & Reports and then choose PortfolioAnalyst.

PortfolioAnalyst Interface

[1] PortfolioAnalyst was verified as calculating Time-Weighted Returns and Money-Weighted Returns in accordance with the Global Investment Performance Standards (GIPS®) calculation methodologies. GIPS was developed by the CFA Institute, is used by investment management firms around the world, and establishes standards for investment performance, making it easier for you to compare firms and make more informed investment decisions.

The projections or other information generated by PortfolioAnalyst regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. Please note that results may vary with use of the tool over time.

GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.

NEW PRODUCTS

New Products Available on the IBKR Platform

We recently expanded the number of products available to clients on the IBKR platform.

CBOE
CME
ICE Futures US (NYBOT)
  • ICE Futures Options on Three Month SONIA Index Futures (SO3)
  • A note for clients who hold or recently held a future and/or future options position in one of the following products on the ICE Futures US exchange: CT (FUT, OPT), SB (FUT), SO (OPT), SF (FUT), KC (FUT), KO (OPT), OJ (FUT, OPT). The display of prices for these products was recently changed from dollars to cents. This change has no effect on your trading and/or the market value of your positions.
EUREX
Nasdaq Copenhagen Exchange (CPH)
Prague Stock Exchange (PRA)
Hong Kong Futures Exchange (HKFE)
Taiwan Stock Exchange (TWSE)
Osaka Stock Exchange (OSE)
Singapore Exchange (SGX)
National Stock Exchange of India (NSE)

TRADING IN BITCOIN FUTURES IS ESPECIALLY RISKY AND IS ONLY FOR CLIENTS WITH A HIGH RISK TOLERANCE AND THE FINANCIAL ABILITY TO SUSTAIN LOSSES. More information about the risk of trading Bitcoin products can be found on the IBKR website. If you're new to Bitcoin, or futures in general, see Introduction to Bitcoin Futures.

Options and Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading options read the "Characteristics and Risks of Standardized Options". Before trading futures, please read the CFTC Risk Disclosure.

REMINDER

A Broker You Can Trust

We wanted to share commentary on IBKR's position given the turbulence in the financial sector earlier this year.

Interactive Brokers holds USD 12.7 billion in equity capital, USD 9.0+ billion in excess of regulatory capital,1 and prides itself on its conservative risk management and financial security. As a matter of prudent risk management, IBKR invests cash in very short-term government securities maturing within a few months.

In an interview earlier this year, Thomas Peterffy, Founder and Chairman of the Board of Directors, shared his views on the current state of the financial markets and IBKR's prudent risk management. He also discussed IBKR's interest rates on uninvested cash balances and how clients are positioned to navigate the current environment.

March 13, 2023 | 8:08 PM EDT

CNBC interview with Thomas Peterffy

Watch Video

[1] As of second quarter, 2023. For more information, visit our investors relations website.

IBKR Trading Platform

New Tools

New Features Added to
IBKR Trading Platforms

We recently added functionality to deliver a powerful and seamless trading experience across all our platforms, whether you are trading from your desktop or on-the-go.

IBKR Mobile
  • Discover: Discover ideas and new markets for potential investments using the Discover tool, your link to market-defining third-party content selected specifically to help you improve your success as a trader. Discover supports content from Trading Central, a premium, one-stop shop for investment decision support.
  • Recurring Investments: Put your favorite investments on autopilot with recurring investments in the stocks and ETFs of your choice! Previously offered in Client Portal, now also available in IBKR Mobile. Tap "Recurring" in the Trade Launchpad to create investment schedules. Monitor, add, edit, or cancel investments at any time. Learn more on our website.
  • Improved Login Screen: IBKR Mobile for Android now supports Face Authentication for devices that support it.
  • Quote Details: You can now put positions and orders into the Quote tab instead of showing them in the swipe-up drawer at the bottom of the screen. Tap three horizontal dots in the top right corner of Quote Details, then tap Position Display. Select "In-Line" to move this widget just below the chart in the Quote tab.
  • Navigation Improvements: As part of our ongoing efforts to improve navigation within IBKR Mobile, you can now reorganize tabs on your Portfolio, and access Quote Details from the Trade Details screen.

    In the Settings menu we have:
    • Added sub-pages to group similar settings together and renamed settings to reflect their functionality more directly.
    • Added sub-pages to group similar settings together and renamed settings to reflect their functionality more directly.
    • Moved function-specific settings out of Configuration and into their function's overflow menus, for example the "Tap to Transmit Order" feature was moved to Order Entry, and "Sync Watchlist Columns" was moved to Watchlist.
    • Removed settings that are not used, for example the "Device Name" setting.
Trader Workstation (TWS)
  • IBUSOPT Destination: Clients who trade US options can now choose to direct route their options orders to IBUSOPT to participate in the retail order flow for US equity and index options.
  • Morningstar Analyst Ratings Data: We recently added Morningstar proprietary Ratings and Analyst Commentary to Fundamentals Explorer for both Equities, and Funds/ETFs. This includes Morningstar's latest update to Funds/ETF data – the Medalist Rating. See an overview in the Morningstar summary tile when you open Fundamentals Explorer, and find complete data in the Analyst Ratings tab.

    Morningstar Analyst Ratings Data is available in TWS, Client Portal and IBKR Mobile.
  • Orbisa Securities Lending Dashboard: Now get access to the same valuable short/securities lending data for US equities historically available only to banks, broker-dealers and institutional investors. The Orbisa Securities Lending Dashboard in Fundamentals Explorer gives you professional-level access to key metrics and data to see when borrowing demand is increasing or decreasing so you're better able to gauge in which direction market sentiment is trending. Orbisa data includes 189,000 unique securities over more than 50 global markets. The Securities Lending Dashboard is available in TWS and Client Portal and coming soon to IBKR Mobile.
IBKR GlobalTrader and IMPACT
  • Recurring Investments: Put your favorite investments on autopilot with recurring investments in the stocks and ETFs of your choice! Previously offered in Client Portal, now also available in IBKR GlobalTrader and IMPACT. Tap "Recurring" in the Trade Launchpad to create investment schedules. Monitor, add, edit, or cancel investments at any time. Find out more in the Recurring Investment Feature article.
  • We've improved interactions with options — for example, you can now easily see when markets are open and find products to trade.
  • Android device users can now use Face Authentication for devices that support it.
Client Portal
  • Discover ideas and new markets for potential investments using the Discover tool, your link to market-defining third-party content selected specifically to help you improve your success as a trader. Currently Discover supports content from Trading Central, a premium, one stop shop for investment decision support. Find Discover in the Research menu and select the third-party data you would like to see, for example Trading Central. Use the sub-tabs to dig deeper. Find out more in the Client Portal release notes.
  • The "Morning Expiration" notice for relevant options is shown in Quote Details and on Exercise/Lapse screens.
  • Consolidated Navigation in Advisor Portal is the new default.
For Advisors: Tax Loss Harvest Tool
  • We are pleased to introduce our Tax Loss Harvest tool. Advisors can use this tool to realize the tax benefits of both long- and short-term capital losses more easily. To open the tool, right-click a position and select Tax Loss Harvest. Find out more about using Tax Loss Harvesting in the TWS Release Notes.

Visit the Release Notes section of the Documentation page to find out more about recent enhancements.

Options involve risk and are not suitable for all investors. For information on the uses and risks of options, you can obtain a copy of the Options Clearing Corporation risk disclosure document titled Characteristics and Risks of Standardized Options by visiting ibkr.com/occ.

Multiple leg strategies, including spreads, will incur multiple commission charges.

Download
IBKR GlobalTrader

Download
IBKR Mobile

NEW TOOL

Achieve Better Price Execution on US Options Trades with the IBUSOPT Destination and Options Liquidity Tool

IBUSOPT Destination

The IBUSOPT destination provides clients with an opportunity to compete with major liquidity providers for marketable orders prior to the orders being routed to an exchange. Orders on IBUSOPT will wait for an offsetting order from another IBKR client and are not shown to the market. Once there is an offsetting order on IBUSOPT, the orders will be used to start an auction at the exchange. The exchange auction provides price improvement opportunities over the current matched price and lets the orders from IBUSOPT execute against each other or other participants responding to the auction – thereby potentially enhancing execution rates and quality.

To route a US equity or index options order to IBUSOPT from Mosaic, set up the order in the Order Entry panel and open the "Advanced" panel to select a new destination. Once you select IBUSOPT as the destination, available order types will be shown in the dropdown.

To provide liquidity throughout the trading day, use the Options Liquidity Tool.

IBKR Options Liquidity Tool

Advisor using options liquidity tool in Trader Workstation (TWS)

Our Options Liquidity Tool1 lets options traders create liquidity-adding strategies by directly routing orders to the IBUSOPT destination where it interacts with our order flow.

  • A variety of order types are available for posting liquidity in IBUSOPT, including Pegged-to-Midpoint, Pegged-to-Best, and Relative/Pegged-to-Primary.
  • Review and update values from presets via corresponding fields for offsets, limit price, quantity and Pegged-to-Best fields.
  • Click BUY, SELL, or BUY and SELL to set the number of strikes in both call and put chains.
  • Easily preview, start, stop or reset strategies.
  • The tool includes a number of risk management features, including stopping a strategy if a negative realized P&L occurs, the strategy delta exceeds a specific value or the strategy delta dollars exceed a specific value.

Each side (i.e., set of strike orders) will be setup as a one-cancels-another (OCA) order attribute in the Trader Workstation (TWS). TWS will attempt to fill one of the orders completely and either cancel the other completely or partially fill multiple orders to equal a final quantity.

TWS tracks strategy performance by creating individual models for each underlying in each account. While a strategy cannot be shared with different users on an account, each user can view the other's trading strategy. In addition, a Metrics tile provides a real-time summary of P&L and Sensitivity to help you monitor the current strategy.

To open the Option Liquidity Tool from Mosaic use the New Window drop down and from the Option Tools section select Advanced Option Tools > Option Liquidity Tool. From Classic TWS, select Trading Tools > Option Liquidity Tool.

[1] The projections or other information generated by the Option Liquidity Tool regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. Please note that results may vary with use of the tool over time.

Options involve risk and are not suitable for all investors. For information on the uses and risks of options, you can obtain a copy of the Options Clearing Corporation risk disclosure document titled Characteristics and Risks of Standardized Options by visiting ibkr.com/occ.

Multiple leg strategies, including spreads, will incur multiple commission charges.

NEW TOOL

New Services for
Advisors of Any Size

Interactive Brokers offers turnkey solutions that help advisors of any size build competitive advantage, efficiently manage their business and serve clients at low cost.

Advisor sitting with clients at a table

NEW TOOL

New Services for
Advisors of Any Size

Interactive Brokers offers turnkey solutions that help advisors of any size build competitive advantage, efficiently manage their business and serve clients at the lowest cost.

We recently introduced several new features and services to help advisors on our platform.

Enhanced CRM and Introduction of DocuSign

Advisors on the IBKR platform have access to a powerful client relationship management (CRM) platform that was recently updated to improve ease of use. Tools such as the Market, Bond and Mutual Fund scanners were integrated with Advisor Portal, and we expanded our Account Queries to provide you with more ways of exporting information.

In addition, US advisors can now create semi-electronic applications, for which clients can securely submit signatures using DocuSign.

Full Client Lifecycle Management

Introducing Custom Indexing

Custom Indexing allows RIAs to create custom portfolios for their clients that directly hold the underlying securities of an index rather than purchasing a traditional index fund. This approach provides several benefits, including the ability to customize portfolios to align with specific investment objectives, as well as include or exclude specific stocks based on ESG preferences and other factors. Unlike traditional ETF investing, Custom Indexing does not have an expense ratio and comes with low minimums, allowing RIAs to customize and personalize investing to suit their clients' needs.

RIAs using Custom Indexing through Interactive Brokers have access to a wide range of index options, including popular indices and ETFs such as the S&P 500 and the NASDAQ 100. They can fine-tune portfolios by adjusting the weightings of individual securities within the index.

How It Works

As an illustrative example, the SPY ETF, which tracks the SPDR S&P 500, is comprised of 102 stocks, each with its own weighting. Using Custom Indexing, advisors can download the list of SPY's individual holdings along with each weighting, save it as a Custom Index and apply it as a model, which is adjustable for individual clients as needed.

IBKR Custom Indexes offer several advantages over ETFs:

  • No expense ratio
  • Low to no commissions
  • Low minimums
  • Ability to customize and personalize to suit client needs
  • Flexibility when harvesting tax losses

Advisors can:

  • Set cash targets
  • Exclude any selected stocks
  • Apply ESG-related exclusion lists (e.g., 'Fossil fuels')
  • Set custom rules (e.g., exclude small cap stocks; overweight stocks where PE is within a certain range and stock is in a particular sector; and so on)
  • Swap stocks in the model for stocks you want with a single click

IBKR's Custom Index tool is accessible from TWS Latest and TWS Beta. Additional information is available in our FAQs and on our website.

Any discussion or mention of an ETF is not to be construed as a recommendation, promotion or solicitation. All investors should review and consider associated investment risks, charges and expenses of the investment company or fund prior to investing. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

LinkedIn Logo

Advisor Forum

Interactive Brokers for Advisors on LinkedIn

We invite Registered Investment Advisors to join our LinkedIn group, Interactive Brokers for Advisors.

The group serves as a forum for learning how to grow your business on the IBKR platform. Engage in discussions with our team of dedicated professionals and use the group to learn more about how IBKR helps advisors create competitive advantage, efficiently manage their business and serve clients at low cost.

Join the conversation today!

  • The TWS Layout Library: Using the TWS Library to switch to pre-set screen layouts built for specific tasks.
    The first in a short series that takes you through how to use the Layout Library in TWS to switch to pre-set screen layouts, built for specific tasks. Screens include Integrated Stock Window, Stock Scanner, Rebalance Portfolio, Portfolio Risk, Bond Scanner, Markets, Analyst Research, Company Research and News.
  • Using Advisor Portal's CRM with White Branding: Using Advisor Portal's CRM to help create lasting client relationships.
    A quick intro to Advisor Portal's CRM, and how it combines with White Branding to help you customize and brand emails, invitations, statements, account application updates, performance reports, contracts and IBKR web interfaces to stay front-and-center with clients and prospects.
  • Practice Planning: A changing practice may benefit from a changed account type.
    Family Advisors become RIAs, RIAs start Family Offices, others add new models to existing ones. Take a quick tour of key IBKR account types, built to support you as you grow and change.
  • Are you making the most of PortfolioAnalyst?: Using IBKR's PortfolioAnalyst to calibrate complete client portfolio performance. The platform lets you track each client's total performance, including assets-held-away, while keeping your own track record separate and easily accessible. Keep your clients informed with presentation-ready, GIPS®-verified reports that you can custom-brand to your specifications and manage through automated dashboards seamlessly integrated with Advisor Portal.

Join the conversation today!

EXPANDED OFFERING

New Funds and Fund Families
Available at the Mutual Funds Marketplace

The Interactive Brokers Mutual Funds Marketplace provides clients from over 200 countries and territories with access to more than 49,000 funds from over 560 fund families, including Allianz, American Funds, BlackRock, Fidelity, Franklin Templeton, Invesco, MFS and PIMCO.

Unlike most firms, IBKR never charges a custody fee. In addition, we offer over 19,000 funds with no transaction fees and low, transparent commissions. Inside the US, commissions are the lesser of USD 14.95 or 3% of trade value, while fee funds outside the US are EUR 4.95 (or equivalent).

To help provide you with a broad selection of funds, we recently added the following fund families to the Marketplace:

Global Fund Families
  • Alma Capital (LU)
  • AQA Capital Ltd (LU)
  • Bank Julius Baer
  • BNY Mellon IM (IE)
  • BNP Paribas III N.V.
  • WHEB AM (IE)
  • HSBC Global (IE)
  • Nevastar Finance (LU)
  • Human Edge Funds
  • PGIM LTD (IE)
  • Gemini Capital Mgmt (IE)
  • Jupiter UT Mgrs TLTD. (GB)
US Fund Families
  • Advisors Asset Mgmt. (AAM) Funds
  • Aristotle Funds
  • FBP Funds
  • Summit Global Funds

Mutual Funds are investments that pool the funds of investors to purchase a range of securities to meet specified objectives, such as growth, income or both. Investors are reminded to consider the various objectives, fees, and other risks associated with investing in Mutual Funds. Please read the prospectus accordingly. This communication is not to be construed as a recommendation, solicitation or promotion of any specific fund, or family of funds. Interactive Brokers may receive compensation from fund companies in connection with purchases and holdings of mutual fund shares. Such compensation is paid out of the funds' assets. However, IBKR does not solicit you to invest in specific funds and does not recommend specific funds or any other products to you. For additional information please view our Mutual Fund Product Listings.

bond scanner

EXPANDED OFFERING

Find Your Next Opportunity at the Bond Marketplace

Search for the best yields from a vast universe of bonds from issuers in the Americas, Europe and Asia in our Bond Marketplace. IBKR provides direct market access at a low cost to a wide array of corporate, government and municipal securities. Our clients have access to the best bids and offers with low, transparent commissions and no hidden mark-ups.

Browse availability with our Bond Search Tool and:

  • Use filters like Maturity Date to find and invest in companies that suit your strategy. Plot results based on Yield to Worst and Duration to dive deep and compare issuers.
  • Easily place orders by copying your results into a watchlist or exporting your list.
  • Save your scan and run it again at any time if you need to find other similar bonds.
Desktop and Mobile screens with Bond Marketplace

30,555

Global Corporate Bonds

6,739

US CDs

1,120

US Treasuries

1,014,391

US Municipal Bonds

2,822

Non-US Sovereign Bonds

EXPANDED OFFERING

Additional News and Research
Providers Available on the IBKR Platform

Our clients enjoy access to dozens of free and premium market research and news providers. We recently added:

News
Briefing.com Logo

A sampling of the more active content found on Briefing.com website subscription services. Includes: Stock Market Update, Story Stocks, Up/Downgrades, Daily Sector Wrap, Tech Stocks, Rate Brief, and Fed Brief. Keeps investors fully informed on portfolios and the markets in general.


Eveercore Logo

Evercore ISI provides world class independent macro & fundamental research to help investors navigate challenging markets. Evercore's award winning economists, strategists & analysts provide thought leadership, deep dives and actionable ideas on geographies, industries and companies under coverage. In 2022, Evercore ISI ranked #1 research firm on a weighted basis by the Institutional Investor U.S. Survey.

Evercore ISI services are complimentary for professional financial advisors and do not require a subscription.


Gravity Exists Logo

Gravity Exists is a financial journal providing insight and analysis for wealth managers and institutional allocators. The coverage spans market risk, economics, and policy as well as in-depth interviews with investment industry experts. On weekends, we publish the newsletter Playbook, which combines their model portfolios with an analysis of the market and macro forces driving performance.

Interactive Brokers clients are invited to receive Playbook, published articles, and invitations to webinars and live conferences at no cost.


illio Logo

illio was created to help individual investors think like a wealth manager. illio aggregates all types of assets and accounts into one convenient platform and shares insights with you across your portfolio. With deep dives into P&L, risk, ESG and more, our analytics and jargon free explanations help even novices understand why their money moves.

To subscribe to illio, log in to Client Portal, toggle to User Settings > select Research Subscriptions > select the Current Research Configuration Icon


Merchantec Capital Logo

Macro Hive is a leading independent provider of global macro and financial market research, and a digital financial media firm. Their worldwide user base spans 160 countries and over 1,000 different institutions, from financial firms and international corporations to government bodies and universities.

Access to Macro Hive Lite's macroeconomic and investment newsletters is complimentary.

Access to Macro Hive Prime includes actionable world-class macro analysis and is available by subscription.


Market Structure EDGE  Logo

Market Structure EDGE is the only decision-support platform for active traders built on the rules that govern the US equity market. As in any market, prices in the stock market are set by supply and demand. EDGE mathematics deliver consistent, low-risk, short-term returns to traders who follow that math, buying DIVERGENCE, selling CONVERGENCE.

To subscribe to Market Structure EDGE, log in to Client Portal, toggle to User Settings > select Research Subscriptions > select the Current Research Configuration Icon.


IBKR does not recommend or endorse any products or services of the listed providers.

Smart Investors Never Stop Learning

Click the Research and Education menu in IBKR Mobile or visit ibkrcampus.com to learn more about current events, trading, financial markets and IBKR's trading tools.

Students at computers

Interactive Brokers Launches Redesigned IBKR Campus Website to Empower Clients Globally

We have revamped our IBKR Campus website, where you can find courses, webinars, English and Spanish-language podcasts and market commentaries that help you learn about trading, financial markets, and Interactive Brokers' trading tools.

The new IBKR Campus is simple to use and makes it easier to find topics of interest to you. Beginning investors, as well as advanced traders, will find information to sharpen their skills and broaden their investment horizons. From free online courses on the concepts and tools of financial trading to lessons and quizzes on Interactive Brokers' trading tools, all investors can take advantage of these resources to become better investors.

IBKR Campus includes Traders' Insight, our news blog that features commentaries from dozens of market participants, including Steve Sosnick, Chief Strategist at Interactive Brokers, and José Torres, Senior Economist at Interactive Brokers. The IBKR Quant Blog helps those interested in finance and technology. We offer an extensive library of live and recorded webinars, podcasts and other resources to help you stay on top of ever-evolving markets.

Learn about trading, financial markets and IBKR's trading tools. Improve your understanding of markets and stay on top of current events.

New Courses

  • The IBKR Block Trading Desks
    IBKR's Block Execution desk can help handle order flow and source liquidity for busy stock, option and bond investors.
  • IBKR GlobalTrader
    The Interactive Brokers GlobalTrader app is a simplified version of our mobile platform. It allows investors to trade in stock markets around the world, as well as trade options and mutual funds and access IBKR's cryptocurrency offerings.
  • IBKR's Recurring Investments Feature
    The Interactive Brokers (IBKR) Recurring Investments feature lets clients setup and execute a predetermined investment strategy by automatically investing funds on a recurring schedule.
  • American Depository Receipts
    If you are interested in investing in non-US companies, this course explains how to gain exposure through American Depositary Receipts (ADRs). We define and explain the use of ADRs, review where and when they are traded and cover how investing in ADRs differs from investing directly in the stock of a foreign company.
  • Introduction to the Interactive Brokers' IBUSOPT Order Destination
    Interactive Brokers' clients can direct US option orders to the IBUSOPT order destination where they will have the opportunity to interact with IBKR SmartRoutedSM order flow. In this course, learn how to access the Interactive Brokers IBUSOPT and use the various order types available there.
  • Introduction to the Interactive Brokers' Automated Trading System (ATS)
    Interactive Brokers' clients can direct US stock orders to the IBKR Automated Trading System (ATS) where they will have the opportunity to interact with IBKR SmartRouted order flow. In this course, learn how to access the IBKR ATS and use the various order types available there.
  • Getting Started for Introducing Brokers
    This course will review Broker Portal, our free and powerful client relationship management (CRM) platform for Introducing Brokers. The web application serves as the one-stop destination to manage clients, run reports and key performance metrics, monitor funding and more. Additionally, automatic billing, flexible commission markups and interest markups/markdowns are part of IBKR's turnkey solution for Broker-Dealers and Introducing Brokers.
  • IBKR's Student Trading Lab – Companion Tools for College Finance Courses
    Interactive Brokers' clients can direct US stock orders to the IBKR Automated Trading System (ATS) where they will have the opportunity to interact with IBKR SmartRouted order flow. In this course learn how to access the IBKR ATS as well as use the various order types available.

Updated and Expanded Courses

  • Introduction to TWS Order Types
    In this Traders' Academy course you will learn about the most popular Order Types: "Market", "Limit" and "Stop".
  • Securities Lending and Borrowing
    This course is aimed at helping investors wanting to take a short position in stocks understand what to do and where to find key information in Trader Workstation (TWS). We explain the short selling cycle and how investors can easily determine stock loan availability in the platform.
  • Python TWS API
    This is a course in programming with the Trader Workstation Application Programming Interface (TWS API) for Python developers. In this course, we describe how to get started in developing Python applications that use the API.
  • Monetary Measures, Economic Output and Corporate Profits (US)
    In this course, we'll learn about economic indicators that cover the central banking system, the government bond system, fiscal budgets, economic growth calculations and the importance of corporate profitability. Some of the indicators include the money supply, yield curve, gross domestic product and corporate profits.
  • Business and Consumer Activity and Confidence (US)
    Consumer and business strength and sentiment are important coincident and leading indicators of economic activity that correlate strongly with corporate earnings and revenue growth. The well-being of economies and markets directly depends on the actions and feelings of consumers and businesses. This course covers indicators that provide insight into economic activity and confidence like confidence, sales, incomes, production, and more.
  • Construction and Real Estate (US)
    Investors carefully watch real estate indicators because the sector is labor intensive, interest rate sensitive and requires significant capital plus the coordination of many moving parts of the economy. The economic health of the many contributors to the real estate sector is likely a reflection of overall economic health. In this course, we'll explore many different indicators that track the real estate market and its many facets, such as mortgage rate, mortgage applications, spending, prices, shovels in the ground, permitting and more.
  • Employment and the Labor Market (US)
    Labor market indicators are important for investors because they're helpful in determining the incomes of consumers, as well as corporations' hiring appetites. Labor market strength drives consumer spending, productivity and business investment, signaling potential levels of corporate revenue and earnings growth. The robustness of an economy is closely linked to its labor markets, the ease or difficulty of attaining work and the number of people currently working. This course explores a variety of labor market indicators that shed light on the elements of human work, including participation, unemployment, employment and wages.
  • Getting Started with CRM in Portal for Advisors
    This course introduces Advisor Portal and all aspects of Client Relationship Management (CRM) for Advisors, amounting to a quick reference guide for finding solutions to client problems. Learn how to configure client/prospect account invitations and build templates. We explain how to manage access rights for your partners and employees. We walk you through reporting and statement capabilities, including PortfolioAnalyst software, and explain in detail how to create custom reports.

Watch, listen and learn about current market topics, IBKR tools and more by participating in free, live webinars or viewing recorded webinars.

Featured Webinars

  • Could 2023 Be A Record Year for Gold Prices? | May 26, 2023
    Presented by: Nitesh Shah, Head of Commodities & Macroeconomic Research, WisdomTree
    Gold has had a great start this year with many of the pressures from the second half of 2022 easing. Interest in the yellow metal has increased with lingering banking sector concerns. If the Federal Reserve pivots monetary policy soon, as the market expects, could gold reach a new all-time high?
  • Analyzing an Option Trade | June 13, 2023
    Presented by: Dmitry Pargamanik, cofounder of Market Chameleon
    Dmitry Pargamanik will go over how to analyze an option trade from different perspectives including delta, gamma and vega exposure.
  • Collars, Reversals, and Option Skew in Practice | June 28, 2023
    Presented by: Mathew Cashman, Principal/OCC Investor Education, OCC
    Let's put some of that theoretical knowledge about option skew into practice. Let us help you understand how the conceptual pieces of option skew work on trades that you might already have on your sheets!

Watch or read market commentary and analysis from nearly 100 industry pros, including both IBKR's Chief Strategist and Senior Analyst.

Featured Articles

  • Policymakers Offer Reassurance as Markets Face a Crisis of Confidence | March 29, 2023
    Contributor: Kristina Hooper, Global Market Strategist at Invesco US
    The banking mini-crisis may help prevent central bankers from overtightening and sending economies into a broad recession. The week of March 24 brought us dovish rate hikes from two major central banks, some important statements from policymakers as they sought to contain the difficulties in the banking sector, and, of course, a roller coaster ride for markets. What does all of this add up to? I, for one, believe that while the pathway to a soft landing for the economy may have narrowed, the banking mini crisis may turn out to be a blessing in disguise, ending rate hikes sooner and preventing central bankers from overtightening and sending economies into a broad recession.
  • The Time for Bonds | April 27, 2023
    Contributor: Marc P. Seidner, Kenneth Chambers at PIMCO
    In these highly uncertain times, bonds now offer investors attractive yields, plus diversification and capital appreciation potential.
  • The Little Secret About Earnings | May 1, 2023
    Contributor: Toggle AI
    Tech companies are seeing growth slow from post-COVID hard-to-believe levels. But is earnings growth slowdown actually bad for stocks?
  • The Asymmetries of Fear, Greed and Monetary Policy | June 12, 2023
    Contributor: Steve Sosnick, Chief Strategist, Interactive Brokers
    When equity markets rally, they tend to grind higher. When they plunge, they do it quickly. At those times, fear tends to be a more visceral motivator for stock traders than greed. Yet the opposite is the case when monetary policy changes. Liquidity injections quickly boost the stock market, while restrictive policies can take months to work their way into valuations. Greed outweighs fear in that case. Let's examine why.
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IBKR Podcasts is a series that interviews thought leaders from across the financial services industry.

Featured Episodes

  • The Center of the Investment Solar System | March 21, 2023
    Guest: Tony Crescenzi, Executive Vice President, Market Strategist, and General Portfolio Manager for PIMCO in New York
    We discuss the role of bonds in an investor's portfolio and their place in the investment universe. Hosted by Interactive Brokers' Andrew Wilkinson, Head of Investor Education, and Steve Sosnick, Chief Strategist.
  • Crisis? What Banking Crisis? | April 11, 2023
    Guest: Andrew Wilkinson, Director of Trading Education, Steve Sosnick, Chief Strategist, and Jose Torres, Senior Economist, Interactive Brokers
    The Interactive Brokers team discusses the aftermath of the banking crisis and the onset of earnings for the nation's banks, and offer a review of labor and inflation data.
  • Eyepopping Corn Prices – Fueling Food Inflation | April 19, 2023
    Guest: Sean McGovern, Vice President of Research at McAlinden Research Partners
    Sean McGovern joins Jeff Praissman, IBKR's Senior Trading Education Specialist and host Steven Levine, IBKR's Senior Market Analyst, for a deep discussion about today's elevated corn prices, their impact on producer and consumer costs, as well as the runup to key beverage company earnings. What can traders and investors learn about China's role as a global buyer? Will Brazil surpass the US as top crop producer? And what can options traders tell us about companies like Coca-Cola and PepsiCo?
  • A Look Under the Hood at Where all the Major European Companies Trade | May 11, 2023
    Guest: Eugen Mohr, Vice President, Equity & Index Sales Americas, Eurex
    How did Eurex managed transatlantic volatility resulting from the US regional banking crisis? IBKR’s Edward Strauss drills down into European retail and institutional trading patterns with his guest from Eurex, Eugen Mohr.
  • A PM Perspective: What’s So Special About Warren Buffett? | | June 22, 2023
    Guest: Stefano Grasso, Senior Portfolio Manager, Enhanced Value Fund
    Join Guillaume Roux-Chabert, from IBKR Singapore and Stefano Grasso, Portfolio Manager for the Enhanced Value Fund in Singapore to discuss three famous Warren Buffett’s letters to shareholders – 1977, 1999 and 2018.

¡Nuevo! - IBKR Podcasts Español

We recently began offering Podcasts in Spanish.

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A blog for quantitative professionals with an interest in programming, deep learning, API, AI, Blockchain and other transformative technologies that influence modern markets.

Featured Articles

  • How to Use Obba for a Link between Java and Excel | July 3, 2023
    Contributor: Sang-Heon Lee, SHLEE AI Financial Model
    This post shows the step by step guide on how to use Obba. Obba is a Java object handler for excel spreadsheet applications. Obba documentations are very good for the intermediate or advanced level. For the beginner or novice, we provide some useful examples for more clear understanding.
  • Factor Trends and Cycles | June 5, 2023
    Contributor: Quantpedia
    Bearish trends or deep corrections in international equity markets starting in 2022 and rising interest rates worldwide brought investors' attention back to not only once-proclaimed dead factor investing. When there's again competition between risk-free assets and the proposition of uncertain returns, we often see flight to value and quality. Speculative (and even growth) investments yielding little to no positive cash flow without attractive steady earnings/revenue are often left behind as capital hides into stable names, which are often omitted when there are a lot of economic stimuli, such as during ZIRP or even QE. What’s puzzling is how to time those switches in regimes to take advantage to allocate funds to the best factors over the time.
  • Rython Tips and Tricks – Snippets | April 26, 2023
    Contributor: Eran Raviv
    R or Python? Who cares! Which editor? Now that's a different story. I like Rstudio for many reasons. Outside the personal, Rstudio allows you to write both R + Python = Rython in the same script. Apart from that, the editor's level of complexity is well-balanced, not functionality-overkill like some, nor too simplistic like some others. In this post I share how to save time with snippets (easy in Rstudio). Snippets save time by reducing the amount of typing required. It's the most convenient way to program copy-pasting into the machine's memory. In addition to useful built-in snippets provided by Rstudio like lib or fun for R and imp or def for python, you can write your own snippets. Below are a couple I wrote myself that you might find helpful. But first we start with how to use snippets.
  • Comparing Past and Present Inflation Rates Can Be Tricky | March 28, 2023
    Contributor: Tommi Johnsen, Ph.D. – Alpha Architect Blog
    This article aims to build better estimates of CPI headline and core inflation values, making inflation comparisons over time more reliable. The run-up in inflation we are currently experiencing is difficult to contextualize because it is inconsistent with past practices, including weights on expenditures and the treatment of housing costs.
  • An Introduction to Unsupervised Learning for Trading | March 3, 2023
    Contributor: Ashutosh Dave, QuantInsti
    In this blog, we look at what unsupervised learning is and how it differs from supervised learning. Then, we move on to discuss some use cases of unsupervised learning in investment and trading. We explore two unsupervised techniques in particular: k-means clustering and PCA, with examples in Python.
  • 3 Packages to Build a Spell Checker in Python | February 15, 2023
    Contributor: Andrew Treadway, Blogger, TheAutomatic.net and Senior Data Scientist
    This post reviews three different packages for coding a spell checker in Python – pyspellchecker, TextBlob, and autocorrect.
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The Best-Informed Investors Learn & Earn at Interactive Brokers

Our Learn & Earn program lets clients with an individual, joint or trust account earn USD 100 in commission credits for each bundle of courses they complete.

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Introduction to Options Introduction to Futures Introduction to US Corporate Bonds
Basic Option Strategies Hedging with Grain and Oilseed Futures and Options Introduction to Municipal Bonds
Neutral Option Strategies Understanding South American Soybean Futures Introduction to Treasuries
Advanced Option Strategies Introduction to Grains and Oilseeds Introduction to Eurodollars
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To be eligible in each asset class, you will not have traded the product for the 180-day period prior to completing the course. The 180-day period restriction does not apply to new clients that have yet to trade the product.

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IBKR AWARDS 2023

A Strong Start to 2023!

In 2023, Interactive Brokers remains in a familiar spot. We were recognized as Barron's #1 - Best Online Broker for the sixth consecutive year and were recognized across the industry for our low costs, breadth of product and advanced trading technology.

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For the 6th year in a row, Barron's named Interactive Brokers as #1 – Best Online Broker

  • 5 out of 5 stars Overall
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2023 BrokerChooser Best Online Brokers

  • Best Online Broker - 2023
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  • #1 for Best Online Broker in Singapore: Read More
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2023 StockBrokers.com Review

  • #1 Professional Trading
  • #1 Active Trading
  • #1 Futures Trading
  • #1 International Trading
  • #1 Investment Options
  • #1 Platform Technology
  • #1 Sentiment Investing
  • #1 ESG Investing
  • 5 out of 5 stars Mobile Trading Apps
  • 5 out of 5 stars Investment Options
  • 5 out of 5 stars Platforms & Tools
  • 5 out of 5 stars Research
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2023 ForexBrokers.com Online Broker Review

  • 4.6 out of 5 stars Overall
  • Best Broker for International Trading
  • Best Online Broker for Advanced Traders
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2023 ForexBrokers.com Online Broker Review

Supporting documentation for any claims and statistical information will be provided upon request.

Options and Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading options read the "Characteristics and Risks of Standardized Options". Before trading futures, please read the CFTC Risk Disclosure.

Any trading symbols displayed are for illustrative purposes only and are not intended to portray recommendations.