Account Minimums | Interactive Brokers Canada Inc. (2024)

FAQs

Account Minimums | Interactive Brokers Canada Inc.? ›

A USD 10,000 (or non-USD equivalent) up front deposit will be required that will be applied against commissions during the first 8 months.

Brokerage account minimums: Many brokers allow you to open an account with $1,000 or less. Some even allow you to open the account without making any deposit at all (though the account might be closed after a few months if you don't add funds).

At Interactive Brokers, the minimum deposit is $0. This means that you can deposit as little money as you wish.

There are no “hidden” fees. There is a minimum activity fee of 10 USD commissions per month. If you do not spend 10 USD, you will be charged the difference.

The Schwab One brokerage account has no minimum balance requirements, no minimum balance charges, no minimum trade requirements, and there is no requirement to fund this account when opened with a linked Investor Checking account.

Zero account minimums and zero account fees apply to retail brokerage accounts only. Expenses charged by investments (e.g., funds, managed accounts, and certain HSAs) and commissions, interest charges, or other expenses for transactions may still apply.

Canadian Electronic Funds Transfer (EFT) - EFT is available for USD or CAD currency deposits (for CA entity accounts) from a USD or CAD currency account held in your name at a bank located in Canada that allows EFT transactions. We limit EFT deposits to $100,000 over seven business days.

If a customer account effects three (3) day trades involving stocks or equity options within any five (5) day period, we will require that such account satisfy the minimum Net Liquidation Value requirement of $25,000 before we will accept the next order to purchase or sell a stock or equity option.

Monthly Account Inactivity Fees Were Eliminated

As of July 1, 2021, we eliminated inactivity fees for most account types, so there is no longer a USD 10 charge for not maintaining a minimum balance or transaction activity with your account. The change will be reflected on August 2021 account statements.

What is the minimum experience for Interactive Brokers? ›

You must have executed 100 or more trades of any product, or 100 simulated trades in a Demo account (available on our website). To trade any product, you must have a Good or Extensive Knowledge Level for that product. To trade any product, you must have a minimum of one year of trading experience with that product.

Interactive Brokers Canada Inc. is a member of the Canadian Investment Regulatory Organization (CIRO) and Member - Canadian Investor Protection Fund. Know Your Advisor: View the CIRO AdvisorReport.

Method #2: Funding your IBKR account through direct ACH funding via Instarem (Cheapest) Meanwhile, funding your IBKR account via Instarem is the cheapest option. Don't worry, the funding steps are quite simple as well.

Our verdict. Interactive Brokers offers low fees and greater access to international investing than any other Canadian trading platform. Consider Interactive Brokers if you want access to global markets and many types of investments and orders.

Depending on the type of brokerage you want to start (independent or franchise), your costs will run between $10,000 to $200,000. Which means in most cases, you'll need to drum up some funding to make your brokerage dreams a reality. SBA loans are used by a lot of new firms to get their brokerage off the ground.

Yes, you can technically start trading with $100 but it depends on what you are trying to trade and the strategy you are employing. Depending on that, brokerages may ask for a minimum deposit in your account that could be higher than $100. But for all intents and purposes, yes, you can start trading with $100.

That means you could open a brokerage account and start investing with whatever funds you have—whether that's $100 or $1,000. These investment accounts allow you to purchase stocks, bonds, exchange-traded funds (ETFs), mutual funds and other securities. You might even earn interest on your uninvested cash.

If you don't have an IRA, $500 would easily get you started at many banks and credit unions. You can also open up IRAs at online brokerages and investment companies. In fact, you may be able to use some of the $500 to open an IRA and invest the rest of your money into another financial vehicle.