Interactive Brokers is the broker we use in our examples. They are generally the low-cost leaders in the industry – they don’t provide as fancy tools as brokerages such as ThinkOrSwim or Trade Station. If you’re just looking to execute trades –interactive brokers is usually your best choice.
There’s 2 main Interactive Brokers apps that we use:
I choose them because I like their mobile trading capabilities. Recently, they added the ability to login with your fingerprint — which is way better than the old security card they used to have.
It used to be that they put up 2 randomly generated numbers between 001 and 212 — and then you would have to look up those two numbers on your security card and type out the corresponding alpha-numeric 3-digit code for each of the two numbers.
This used to be a big pain in the ass because I log in to my account pretty often just to check in — and the security card really makes it a pain.
Now with fingerprint technology, I can instantly get through security and see my account.
Overall, I think the mobile app is pretty good — and I will be posting video tutorials on how to use the interactive brokers app here so you can get a feel for what it’s like if you’re not already a customer.
When you sign up, you’ll also want to make sure that you get the proper permissions to trade.
1) Under your Account Management, – go to Manage Account -> Trade Configuration -> Permissions
2) Make sure you have Options and Futures checked under U.S. as highlighted in red below:
The interface itself is nicely designed. Of course, the design will likely change over time, but in general the numbers and coloring make things generally easy to read – even on a small mobile screen.
I use and recommend Interactive Brokers because of their low prices compared to the industry and because of the ease of use of their mobile app.
I do have to admit that the Trader Workstation desktop software is confusing as heck — packed with way too many features. But the mobile app does a great job of allowing you to access only the most important features – so these features are not buried within tons of others features like the way the Trader Workstation Software (TWS) is designed.
So I would recommend the IB app, but not the desktop.
For charting, though I don’t use or know how to use IB charting. I prefer Speedtrader or investing.com or Finviz for charting.