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Cancellation Interactive Brokers (Ibkr): Easy Method
What is Interactive Brokers (Ibkr)
Overview
Interactive Brokers (IBKR) is a global online brokerage known for low commissions, multi‑market access, and advanced trading tools aimed at active traders and institutions.
Core services
IBKR offers trading in stocks, options, futures, forex and ETFs, with API access, paper trading and professional execution services.
How to cancel Interactive Brokers (Ibkr)
Cancel app purchases
- App purchases made through Apple App Store or Google Play cannot be cancelled by IBKR directly.
- Follow Apple’s or Google’s purchase/refund processes for in‑app purchases and subscriptions.
Request trade cancellations (trade busts)
- Submit a Trade Cancellation Request via the Message Center in Account Management, specifying date, trade details and reason.
- Act quickly: exchanges impose very short windows for trade busts (sometimes as short as 8 minutes).
- Follow up by phone if you do not receive a timely response.
- For details, see the IBKR Message Center trade cancellation instructions: Trade Cancellation Request.
Closing an account or stopping services
- Before requesting account closure, close or transfer positions and withdraw available cash.
- Submit account closure or support requests via Account Management Message Center or contact IBKR support by phone.
- Retain records of communications and confirmations until closure is fully processed.
What happens when you cancel
Access and account status
After you request closure, trading may be disabled until positions are closed or transferred and withdrawals completed.
Data and records
IBKR retains account records per its policies and regulatory obligations; you should download statements and trade confirmations before final closure.
Ongoing commitments
- Any outstanding fees, margin loans, or unsettled trades must be resolved prior to final closure.
- Recurring deposits or linked payment instructions should be cancelled separately where applicable.
Will I get a refund?
General refund policy
IBKR’s consumer‑facing documentation does not advertise a statutory 14‑day cooling‑off or automatic refund right.
Refunds for mistakes or deposit issues are handled case‑by‑case via support and may take time to resolve.
Withdrawal and fee exceptions
- IBKR does not charge withdrawal fees for the first withdrawal per calendar month; subsequent withdrawals may incur regional fees.
- For example, SGD withdrawals may incur a fee (check IBKR Singapore fees for current amounts).
- See IBKR Singapore other fees: Other Fees (SG).
Practical tips
- Document the issue and all communications when requesting refunds.
- Expect some cases (mistaken deposits or charge reversals) to be protracted and require escalation.
Interactive Brokers (Ibkr) plans and pricing
Pricing overview
The table below lists SGX commission plans and the IBKR Lite inactivity fee as applicable in Singapore.
Notes on applicability
- SGX commission slabs are determined by monthly SGX trading volume in SGD.
- The IBKR Lite inactivity fee applies under specified conditions and may only apply to USD accounts.
| Plan | Price | Period | Features |
|---|---|---|---|
| SGX Stocks - Fixed Pricing | 0.08% of trade value (min. SGD 2.50 per order) | Per trade | Flat commission rate on SGX‑listed stocks, no monthly commitment required |
| SGX Stocks - Tiered Pricing (Monthly Trade Value ≤ SGD 2.5M) | 0.08% of trade value (min. SGD 2.50 per order) | Per trade | Same as Fixed for low‑volume; becomes cheaper at higher volume tiers |
| SGX Stocks - Tiered Pricing (Monthly Trade Value 2.5M - 50M) | 0.05% of trade value (min. SGD 1.60 per order) | Per trade | Lower commission rate & minimum for higher volume traders |
| SGX Stocks - Tiered Pricing (Monthly Trade Value 50M - 150M) | 0.03% of trade value (min. SGD 1.20 per order) | Per trade | Even lower rates for very high volume |
| SGX Stocks - Tiered Pricing (Monthly Trade Value >150M) | 0.02% of trade value (min. SGD 0.90 per order) | Per trade | Lowest commission rates for ultra‑high volume |
| Inactivity Fee (IBKR Lite - minimum commission not met) | US$1.50 per month | Monthly | Charged if Lite account generates less than US$3 in commissions per month |
Your consumer rights in Singapore
No automatic cooling‑off
IBKR’s publicly available materials do not promise a 14‑day cooling‑off or automatic refund right for retail clients.
Refunds and reversal requests are typically handled via support on a case‑by‑case basis.
Investor protection
IBKR Singapore clients’ assets held via IBKR LLC are protected under US SIPC (up to USD 500,000, including up to USD 250,000 cash).
IBKR Singapore also notes excess SIPC coverage via private insurers and will file claims on clients’ behalf if needed.
See IBKR Singapore investor protection: Security & Investor Protection (SG).
Fraud and scam warnings
- IBKR warns clients to remain vigilant against scams and impersonation.
- IBKR will not cold‑call for support, use social media as official support, or charge to withdraw funds.
- See IBKR Singapore warnings: Warnings on Frauds and Scams (SG).
Customer experiences
Positive feedback
Users commonly praise IBKR’s competitive fees, broad market access, and powerful tools such as APIs and paper trading.
Some reviewers note strong execution quality and platform reliability under heavy market load.
Negative feedback
Frequent complaints cite slow or unhelpful customer support, with some tickets taking weeks to resolve.
Other common issues reported include UI complexity, app bugs, withdrawal delays and difficulty closing accounts.
Documentation checklist
Before requesting cancellations or refunds
- Trade confirmations and exact timestamps for disputed trades.
- Account statements showing balances and transaction history.
- Withdrawal receipts, bank deposit confirmations and any payment reference numbers.
Communication records
- Copies of Message Center tickets, emails and phone call notes (date, time, agent if available).
- Screenshots showing erroneous balances, order details, or app errors where relevant.
Common mistakes
Delaying action on trade disputes
Waiting too long to request a trade cancellation can forfeit eligibility; exchanges can allow busts only within very short windows.
Closing accounts with open positions or funds
Attempting to close an account without settling trades or withdrawing funds often delays closure and can trigger unexpected fees or holds.
Relying on informal channels
Using unofficial support channels or social media increases fraud risk and may slow resolution; always use official Message Center or phone support.
Comparative recap
Key comparisons
The table below summarizes cancellation and refund aspects to help you compare key points at a glance.
How to read this table
- "Item" identifies the action or concern.
- "Notes" gives the IBKR position or practical detail based on verified sources.
- "Period" indicates the relevant timing or recurring nature.
| Item | Notes | Period |
|---|---|---|
| App purchases | Governed by Apple / Google; IBKR cannot cancel in‑app purchases made through stores. | Per purchase |
| Trade cancellations (busts) | Submit Trade Cancellation Request via Message Center; exchange windows can be very short. | Immediate / short window |
| Account closure | Must settle positions and withdraw funds; request closure via Account Management or support. | Per case |
| Refund policy | No automatic 14‑day cooling‑off; refunds handled case‑by‑case and may be protracted. | Case‑by‑case |
| Withdrawal fees | First withdrawal per calendar month is free; subsequent withdrawals may incur regional fees (e.g., SGD fee). | Per calendar month |
After cancelling
What to verify
- Confirm account closure or trade‑bust outcomes via Message Center confirmations.
- Ensure final statements and tax documents are downloaded and stored.
Helpful official links
- Trade Cancellation Request (IBKR Message Center)
- IBKR Singapore - Other Fees
- Security & Investor Protection (IBKR Singapore)
- Warnings on Frauds and Scams (IBKR Singapore)
Address
Postal address
Interactive Brokers Singapore Pte Ltd, Attn: New Account Documentation, 1 Harbourfront Place #12‑01, Harbourfront Tower 1, Singapore 098633.
Notes on contact
Use Account Management Message Center or the official IBKR Singapore support channels for requests. Keep records of communications and confirmations.
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Written by Wei Jie Tan
Regulatory watch · 3 years experience
Legal analyst tracking eIDAS, GDPR and electronic delivery regulations for 3 years to make sure every Postclic template is compliant and admissible in court.