4024 | 19 December 2023

Customer Relationship Summary
Interactive Brokers LLC (“IB LLC”) & Interactive Brokers Corp. (“IB Corp.”)1.
Introduction: IB LLC and IB Corp (collectively, “IBKR” or “we”) are broker-dealers registered with theSecurities and Exchange Commission (“SEC”) and Financial Industry Regulatory Authority (“FINRA”). Brokerageand investment advisory services and fees differ and it is important for you to understand the differences. This
document is intended to provide you with a high-level overview of IBKR’s services, fees, costs, conflicts ofinterest, standard of conduct, disciplinary history, and the disciplinary history of IBKR’s financial professionals.
Free and simple tools are available to research firms and financial professionals at Investor.gov/CRS, which also
provides educational materials about broker-dealers, investment advisers, and investing.
What investment services and advice can you provide me?
2.
Description of Services: IB LLC is an online broker that provides self-directed trade execution and clearing
services. IB LLC offers you the ability to buy and sell investment products like stocks, options, futures, forex,bonds, mutual funds, and others in a brokerage account. IB LLC acts in a broker-dealer capacity and does notmake recommendations. All trading at IB LLC is directed by you or your self-selected independent advisor. IB
Corp employs registered representatives for the sole purpose of introducing institutions and high net worth
individuals to IB LLC. IB Corp sales representatives are prohibited from making recommendations to retailinvestors.
IBKR does not employ human "brokers" or "advisors" to manage your account. We do not monitor theperformance of your account to make recommendations as to whether you should buy, sell or hold investment
products. We provide investment tools and education to help you monitor the performance and composition ofyour account and make decisions as to the investments you choose to make. This information is for
informational and educational purposes only. We do monitor your account for other purposes such ascompliance and to ensure that your account does not present undue risk to IBKR.
IBKR does not provide investment advice or make recommendations to retail investors on account types orpricing plans. All IBKR employees are prohibited from making recommendations or providing investment advice.
IBKR does not have discretionary trading authority over your account other than accepting not-held orders. Youor your self-selected advisor make the decisions regarding the purchase or sale of investments. IBKR does notoffer proprietary products. While there are generally no account minimums or other requirements to open or
maintain a brokerage account, certain products and services (e.g., Stock Yield Enhancement Program) may haveminimum equity or other requirements.
For more details on services offered by IBKR and our affiliates, please see ibkr.com/products or contact IBKR at
ibkr.com/help. Responses to the questions in each Conversation Starter are available here.
Conversation
Starter:• Given my financial situation, should I choose a brokerage service? Why or why not?
• What is your relevant experience, including your licenses, education and otherqualifications? What do these qualifications mean?
What fees will I pay?

3. Fees, Costs, Conflicts, and Standard of Conduct: As an IBKR customer, the principal fees and costs you may
incur for our brokerage services are: (i) Commissions; (ii) Exchange, Regulatory, and Clearing Fees; (iii)
Subscription Service Fees; (iv) Interest and Financing Costs; (v) Payments for third-party services; and (vi) Other
Fees and Costs. Fees and costs will vary depending on the products you trade, the volume of your trading, andthe services and pricing plan you choose. You will pay fees and costs whether you make or lose money on yourinvestments. Fees and costs will reduce any amount of money you make on your investments over time. Please
make sure you understand what fees and costs you are paying. IBKR does not compensate employees based ontrades or fees paid by you. See below for an overview of the fees and costs:
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•Commissions: Commissions are transaction-based fees charged by brokers. IBKR offers tiered, fixed andzero-commission pricing plans. Commissions charged will vary depending on the pricing plan that you choose
and the product(s) you trade. Please see ibkr.com/commissions for additional details.

•Exchange, Regulatory, and Clearing Fees: Exchanges, clearing houses and regulators may charge IBKR fees.
These fees may be charged to your account in addition to commissions depending on the commission
structure that you choose and the products you trade. Exchange/Regulatory/Clearing fees charged to you
may be greater than the corresponding fees paid by IBKR (e.g., IBKR may receive aggregate volume discounts
that are not passed on to you). Please see ibkr.com/commissions for additional details.

•Subscription Service Fees: IBKR offers you access to third-party research, real-time streaming market data,and other subscription services. If you elect to subscribe to any of these services, you will be charged for thecost to IBKR. Please see ibkr.com/researchandnews and ibkr.com/marketdata for additional details.

•Interest and Financing Costs: IBKR may offer you financing, including allowing you to borrow on margin or
to borrow stock for purposes of short selling. These services have corresponding costs, which are charged
to your account in the form of margin loan interest and stock borrow fees. Please see ibkr.com/interest foradditional details.

•Payments for third-party services: IBKR receives compensation from third-parties including compensationfrom fund companies in connection with purchases and holdings of mutual fund shares. Such compensation
includes but is not limited to Rule 12b-1 fees paid out of the funds’ assets. However, IBKR does not solicit
you to invest in specific funds and does not recommend specific funds or any other products to you.

•

Other Fees and Costs: IBKR offers products and services in addition to online trading. Such products andservices include, but are not limited to, processing corporate actions and dividends, cash movements, andsecurities transfers. These services are offered at additional cost. Please see ibkr.com/otherfees foradditional details.

While the above list includes some of the more common fees and costs that you may encounter, it is not
exhaustive. For complete details of services provided by IBKR and corresponding fees and costs, please visit
ibkr.com. Commissions and other fees are based on the trading you conduct and the services that you choose.
Information regarding specific commissions and fees is available at ibkr.com/commissions andibkr.com/otherfees.
Conversation
Starter:• Help me understand how these fees and costs might affect my investments. If I give you$10,000 to invest, how much will go to fees and costs, and how much will be invested for me?

What are your legal obligations to me when providing recommendations? How else does your firm makemoney and what conflicts of interest do you have?
We do not provide recommendations. IBKR makes money by charging commissions and/or receiving payment
for order flow on your self-directed trading, as well as charging interest on financing, receiving interest on
uninvested cash in your account, and charging subscription fees for optional services that you decide to engage
in. The way we make money can create conflicts with your interests. You should understand and ask us about
these conflicts because they can affect the services we provide to you. Here are some examples of potential
conflicts of interest:•Third-Party Payments: For certain investment products (for example, certain mutual funds), we receive
compensation from third-parties when you purchase and/or hold the product.

•Principal Trading and the Internalization of Customer Order Flow: IB Corp, which has no clients and holds
no client assets, engages in limited proprietary trading activity with the intention of facilitating andimproving the trading experience of IB LLC clients.

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IB Corp, or other affiliate of IB LLC, acts as principal to facilitate the fractional share trading activity of IB LLC
clients.
IB LLC non-directed whole-share client order flow may also be internalized through IB Corp or other affiliate.
The internalization of IB LLC client orders is intended to provide the opportunity for improved execution
quality (i.e., increased price improvement) and/or reduced execution costs without reducing execution
quality. The internalization of a client order may enable IB Corp or other affiliate to generate a trading profit
by trading as principal.
Clients have the option to opt out of internalization of the whole-share portions of their stock orders; clientscannot opt out of internalization for the fractional-share portion of any order they submit.
•Payment for Order Flow: IBKR receives payment for order flow from certain exchanges, market makers, andother third parties through whom IBKR executes client orders. We mitigate this conflict of interest throughdisclosure and by selecting execution venues for individual customers orders based first on the benefit to
the client rather than to IBKR, subject to the client’s instructions and pricing plan selection. Please see theOrder Routing and Payment for Order Flow Disclosure for details.

•Affiliate Investment Advisor: Our affiliate, Interactive Advisors, is an SEC-registered Investment Advisor thatoffers actively managed portfolios. Interactive Advisors uses IB LLC as the custodian for its customers’ assets.
If IBKR were to make a recommendation to a retail customer, we would be obligated to act in the customer’s
best interest and not put our interest ahead of the customer’s. If IBKR were to provide you with arecommendation, the way we make money would create some conflicts with your interests. Examples ofthese conflicts are identified in the above paragraph. You should understand and ask us about these conflicts
because they could affect a recommendation if IBKR provided one. Information regarding IB LLC’s standardof conduct is available in the Regulation Best Interest Disclosure.
IBKR mitigates the potential conflicts listed above by applying appropriate controls including information
barriers to prevent the disclosure of order and trading information. IBKR and its affiliates do not sell,distribute, recommend, market, or otherwise encourage you to trade in specific products. IBKR does not act
as an investor, placement agent, underwriter, distributor, remarketing agent, structurer, securitizer,investment manager, investment advisor, commodity trading advisor, municipal advisor, market maker, ortrader and does not produce any proprietary research. As such, IBKR does not believe that third-party
payments it receives pose a material conflict of interest with you. In accordance with applicable rules andregulations, IBKR maintains a strong information barrier that keeps your orders and trading information
separate from the proprietary trading information of its affiliates. Please see ibkr.com/disclosures foradditional details.
Conversation
Starter:• How might your conflicts of interest affect me, and how will you address them?
How do your financial professionals make money?

IBKR staff are compensated by salary and merit-based discretionary bonuses. The bonus component iscalculated based on factors including company and individual performance and may include cash and noncash
compensation. IBKR staff are not compensated based on commissions or fees, performance of your accounts,
the amount of your assets they service, the products that you buy or sell, or revenue earned from services
chosen by you.
Do you or your financial professionals have legal or disciplinary history?
4.
Disciplinary History: Yes. Visit Investor.gov/CRS for a free and simple search tool to research IBKR andour financial professionals.

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Conversation
Starter:• As a financial professional, do you have any disciplinary history? For what type of conduct?

Additional Information: You can find additional details about IBKR and our brokerage services atibkr.com. To request up-to-date information or a copy of this Customer Relationship Summary, use the contact
information provided at ibkr.com/help or call IBKR Client Services at 1 (877) 442-2757.
IBKR does not assign registered representatives to manage client accounts. Our registered representatives areemployed by IBKR, which is a broker-dealer and not an investment advisor. If you have any concerns regarding
the service that you receive, you can contact us at (312) 542-6901 or 1 (877) 442-2757.
Conversation
Starters:• Who is my primary contact person?
• Is he or she a representative of an investment adviser or a broker-dealer?
• Who can I talk to if I have concerns about how this person is treating me?

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