Interactive Brokers Review for Non-Residents

Interactive Brokers is the brokerage I use personally. It’s one of the few platforms that genuinely works for non-US residents — most US brokerages either won’t accept you or make the process painful. IBKR accepts clients from most countries, gives you access to global markets, and has some of the lowest fees in the industry.

Why I Use It

I invest in US and European equities through IBKR. My portfolio is mostly broad market ETFs — Vanguard Total World (VT) and similar funds. I set it up with my Georgian residency.

A few things I particularly value:

Access to Global Markets

170+ markets from a single account. US stocks, European ETFs, Asian markets — all accessible. For a non-resident who moves between countries, not being locked into a single market is essential.

Currency Conversion

IBKR has some of the best currency conversion rates of any platform. When I need to convert EUR to USD (or vice versa) for investing, the spread is tiny — far better than any bank.

Wise Integration

This is part of my personal financial workflow: I can move money directly between Interactive Brokers and Wise without paying wire fees. IBKR → Wise → wherever I need it (personal account, business account, another currency).

The US Estate Tax Trap

This is critical if you’re a non-resident investing in US equities.

Non-US persons are subject to US estate tax on US-situs assets (including US stocks and US-domiciled ETFs) above $60,000. The tax rate is up to 40%.

What this means in practice: if you hold more than $60,000 in US stocks or US ETFs and something happens to you, the IRS will tax your estate on everything above $60,000 — at 40%.

How I handle this:

• I keep my US equity exposure below roughly $60,000
• For broader exposure, I use Ireland-domiciled ETFs (like VWRA or IWDA) that hold US stocks indirectly — these are not considered US-situs assets
• This is not tax advice — consult a cross-border tax advisor for your specific situation

This is one of the most important things non-residents get wrong. Your US LLC is a business structure. Your investment portfolio is separate, and the estate tax rules are different.

Key Features

Commission-Free Trading (IBKR Lite)

US stocks and ETFs are commission-free on IBKR Lite. For European and other markets, commissions are low (varies by exchange).

Multi-Currency Account

Fund your account in 29 currencies. Hold balances in multiple currencies simultaneously. Convert between currencies at interbank rates with minimal spread.

Interest on Cash

Earn up to 3.14% on uninvested USD cash. Rates vary by currency and balance. Better than most bank savings accounts.

Fractional Shares

Buy fractional shares of US stocks and ETFs. Invest $100 in Amazon without buying a full share. Useful for building diversified positions with smaller amounts.

Regulated and Insured

IBKR is regulated by the SEC and FINRA in the US, plus local regulators in each country they operate. US accounts are SIPC insured up to $500,000 ($250,000 for cash).

How to Open an Account as a Non-Resident

1. Go to ibkr.com — Use my referral link to earn up to $1,000 in IBKR stock
2. Choose Individual account — (or Joint if applicable)
3. Complete the application — Provide personal details, tax residency, investment experience
4. Verify your identity — Upload passport and proof of address
5. Fund your account — Bank transfer or via Wise
6. Start investing — Usually approved within a few days

Referral Bonus

When you sign up through my referral link:

• You get: Up to $1,000 in IBKR stock — $1 in IBKR shares for every $300 deposited
• Requirement: Deposit at least $10,000 within 30 days and maintain that balance for 1 year for shares to vest
• Not eligible: Residents of Japan, Denmark, Spain, Portugal, Poland, and Israel. Tax-deferred accounts also excluded.

Required Documents

• Passport or government-issued ID
• Proof of address (utility bill, bank statement)
• Tax identification number from your country of residence
• No US SSN required

Tax Forms

IBKR will ask about your tax residency. As a non-US person, you’ll complete a W-8BEN form (not W-9). This determines your withholding rate on US dividends — typically 30%, unless your country has a tax treaty with the US that reduces it.

What I Invest In

For context, here’s my general approach (not financial advice):

• Broad market ETFs — VT (Vanguard Total World) for overall market exposure
• US equities capped at ~$60K — Stay below the estate tax threshold
• Ireland-domiciled ETFs for larger positions — VWRA (Vanguard FTSE All-World UCITS ETF) avoids US estate tax
• Currency diversification — Hold positions in both USD and EUR

The key principle: keep it simple, keep it diversified, and don’t accidentally trigger US estate tax.

Pros & Cons

Pros:

• Accepts non-residents from most countries
• 170+ global markets from one account
• Best currency conversion rates
• Commission-free US stock/ETF trades (Lite)
• Connects to Wise
• Interest on uninvested cash
• Regulated by SEC, FINRA, FCA, and other major regulators

Cons:

• The platform is not beginner-friendly — the interface is powerful but complex
• Customer support can be slow
• The mobile app is functional but not as polished as Revolut or similar fintech apps
• Tax reporting can be complex for multi-country investors

IBKR vs. Other Options for Non-Residents

Our Verdict

If you’re a non-resident who wants to invest in global markets, Interactive Brokers is the clear choice. It accepts clients from the widest range of countries, has the best currency conversion, and connects directly to Wise for easy fund movement.

The interface is not pretty, and there’s a learning curve. But once you’re set up, it just works — and the low fees and global market access make up for the complexity.

Just remember the $60,000 US estate tax threshold. This is the single most important thing for non-residents to understand when investing in US equities.

Want to understand how investing fits into your overall international structure? Book a consultation to discuss your situation.