Interactive Brokers Group, Inc. (IB) is an online discount brokerage firm in the United States. The company traces its origin to 1977 when Thomas Peterffy bought a seat on the American Stock Exchange as an individual market maker, and formed T.P. & Co. the following year. Today, the company consists of many subsidiaries around the world, operating on most major stock, futures, bonds, forex, and options exchanges worldwide. The company commenced a public offering on 4 May 2007 under the ticker symbol NASDAQ: IBKR on the Nasdaq exchange.
Barron's Magazine stated in 2009 that Interactive Brokers maintains a position as the least expensive trading venue for investors,and holds the ranking as the #1 Lowest Cost Broker for the fifth straight year.
Trader Workstation (abbreviated TWS) is an electronic trading platform built using cross-platform Java desktop application, similar to the company's WebTrader web application, but is extensible through a proprietary API. TWS software prompts to update itself every few weeks, or a .jar file from a consistent URL can be downloaded, which then unpacks to the current version. MobileTrader is a variant intended for personal digital assistants and smartphones.
PaperTrader is a trading platform using Trader Workstation software in a degraded mode, intended either for developers to test a program written for the proprietary Traders Workstation API, or for "paper" traders to experiment with trading in a simulated account, artificially populated with one million dollars, at no cost and with no risk of loss. Any market data subscriptions associated with one's master account are accessible through a paper trading account; a prominent warning appears to remind the user an order is about to be placed in the simulated account.
Funds protectionAccount ProtectionFinancial StrenghtS&P Rating 2010