20 Interactive Brokers Interview Questions and Answers

Interactive Brokers is a deep discount electronic access broker that offers online trading of stocks, options, futures, and forex. The company is headquartered in Greenwich, Connecticut and has offices in North America, Europe, Asia, and Australia.

Interactive Brokers is a popular choice for online brokers, and for good reason. The company offers a wide range of products and services, and is known for its low commissions and fees.

If you’re looking to land a job at Interactive Brokers, you’ll need to be prepared to answer some company-specific interview questions. In this article, we’ll give you a rundown of some of the most common questions you’re likely to encounter in an interview with Interactive Brokers.

Interactive Brokers Interview Process

The interview process at Interactive Brokers can vary depending on the position you are applying for. However, most positions will require you to take an online assessment and/or a personality test. You may also be required to participate in a group discussion and/or interview with multiple team members. The entire process can take up to two months.

1. Are you familiar with options trading?

Options trading is a common practice among IB clients, so the interviewer may ask you this question to gauge your experience with options. If you have previous experience with options trading, explain how it relates to your career goals and what skills you gained from doing it. If you don’t have any prior experience with options trading, you can still answer honestly about your interest in learning more about it.

Example: “I’ve done some research on options trading but haven’t had much personal experience with it. I’m interested in learning more about it because I think it could be an effective way for me to help my clients achieve their financial goals.”

2. What are the three most important values to you in a company?

This question is a way for the interviewer to learn more about your values and how they align with Interactive Brokers Group. Your answer should show that you value teamwork, innovation and customer service.

Example: “I believe in working hard, being innovative and putting customers first. I think these are three important values of Interactive Brokers Group as well. In my last role, I was able to help develop new software that helped our company improve its customer service offerings. This made me feel like I was making an impact on the company’s success.”

3. How would you deal with an irate customer?

This question is a good way to assess your customer service skills. It’s important for employees in this role to be able to handle difficult customers with tact and professionalism. Your answer should show that you can empathize with the customer, understand their concerns and resolve them quickly.

Example: “I would first try to calm the customer down by listening to what they have to say. I find that many people are just looking for someone to listen to them and acknowledge their concerns. If they’re still upset after I’ve listened to them, I’ll apologize for any inconvenience they may have experienced and explain how we plan to fix it. Then, I will follow up with them once the issue has been resolved.”

4. Have you ever worked in a high pressure environment?

This question is a great way to learn more about your potential colleague’s ability to handle pressure. High-pressure environments can be common in the financial industry, so it’s important that you find someone who can thrive under these conditions.

Example: “I have worked in high-pressure situations before and I’m comfortable with them. In my last role as an investment advisor, we had a lot of clients coming into our office asking for help. This led to many days where I was working on multiple client accounts at once while also helping new customers. While this was challenging, I learned how to manage my time better and prioritize tasks.”

5. What do you know about Interactive Brokers?

This question is a great way to test your knowledge of the company and its products. It also gives you an opportunity to show that you have done some research on the company before your interview.

Example: “I know Interactive Brokers Group is one of the largest discount brokers in the world, with over $100 billion in assets under management. I am familiar with many of their products, including IB Trader Workstation, which allows me to trade stocks, options, futures and forex online. I also know they offer free trading for all customers, as well as low commissions.”

6. Do you have any experience in finance or working with financial products?

This question is a great way to show the interviewer that you have experience in the financial industry and can apply your skills to this role. If you don’t have any direct experience, consider discussing how you’ve used financial products or worked with numbers in the past.

Example: “I have no direct experience working in finance, however I do have some experience using financial products. In my last position as an accountant, I was responsible for calculating taxes on clients’ assets and reporting them to the IRS. This helped me understand how important it is to work with financial products and how they impact people’s lives.”

7. Tell me about your experience with automated testing of software applications.

The interviewer may ask you this question to learn more about your experience with software testing and how it relates to the role. Use examples from your past work experience to explain what automated testing is, why it’s important and how you’ve used it in your previous roles.

Example: “In my last position as a web developer for an e-commerce company, I was responsible for creating functional websites that were user-friendly and easy to navigate. To ensure that all of the elements on the website worked properly, I implemented automated testing into my development process. This allowed me to test each element of the website before releasing it to the public.”

8. Why do you want to work for Interactive Brokers?

This question is a great way to gauge the level of interest you have in working for this company. It also allows you to show your knowledge about the organization and its values.

Example: “I want to work for Interactive Brokers because I am passionate about helping people achieve their financial goals. The company’s mission statement, which is to help investors succeed by offering deep discounts on trading fees, aligns with my own personal beliefs that everyone should be able to invest without having to pay exorbitant fees. I would love to be part of an organization that shares these same values.”

9. We need employees that can prioritize and handle multiple tasks at once, how would you rate yourself on time management?

This question is a great way to assess an applicant’s ability to manage their time and prioritize tasks. It also shows the interviewer how you would handle working in a fast-paced environment. When answering this question, it can be helpful to mention a specific example of when you were able to effectively manage your time and complete multiple tasks at once.

Example: “I have always been good at managing my time and prioritizing tasks. In my previous role as a financial advisor, I had to balance client calls with reviewing investment portfolios and completing paperwork. I find that I am very comfortable handling multiple tasks at once and feel confident that I could do so in this position.”

10. Can you explain what the difference is between a stock and an option?

This question is a great way to test your knowledge of the financial industry. It also shows that you have experience working with Interactive Brokers, as they are known for their options trading platform.

Example: “A stock represents ownership in a company and its value goes up or down depending on how well the company does financially. An option gives you the right but not the obligation to buy or sell an asset at a specific price within a certain time frame. For example, if I own 100 shares of Apple, I can exercise my option to sell them at $100 per share anytime before the expiration date.”

11. How do you keep up with the latest developments in technology?

The interviewer may ask this question to learn more about your interest in technology and how you stay current with industry trends. Your answer should show that you are passionate about the field of technology and eager to learn new things.

Example: “I am a self-taught programmer, so I have always been interested in learning new programming languages. In my last role as an IT specialist, I learned Python, which helped me automate many tasks at work. Now, I’m looking for a position where I can continue to grow my skills and knowledge.”

12. If hired, what would be your approach to designing software for an assembly line?

This question is a behavioral one that tests your problem-solving skills. It also shows the interviewer how you would apply your technical and analytical abilities to solve problems in an industrial setting.

Example: “I would first analyze the assembly line’s current software, then I would create a list of all its functions and processes. Next, I would evaluate each function and process for any possible improvements or changes. After this, I would develop new software with these improvements and implement it into the assembly line.”

13. Describe a time when you had to solve a problem without being told what steps to take.

This question is a great way to assess problem-solving skills and how you approach challenges. When answering this question, it can be helpful to describe the steps you took to solve the issue and what your final solution was.

Example: “When I first started working at my previous company, there were times when I would have questions about how to complete certain tasks or processes. However, since I had only been with the company for a few months, I didn’t feel comfortable asking anyone for help. Instead, I looked through our internal resources until I found the answer to my question. This helped me build confidence in my ability to find answers on my own.”

14. When was the last time you dealt with a difficult coworker?

This question is a great way to learn more about your potential coworkers and how they interact with others. It’s important that you answer this question honestly, as it can help the interviewer decide whether or not you would be a good fit for their company.

Example: “I once had a coworker who was very negative and always complained about everything. I tried my best to ignore her but eventually told her that she needed to stop complaining so much because it wasn’t helping anyone. She apologized and promised to try harder. After that, we were able to work together better.”

15. Who were some of your favorite clients as a client service representative?

This question can help the interviewer get a better sense of your customer service skills. You can use this opportunity to highlight how you helped clients and what made those interactions positive for both yourself and the client.

Example: “I really enjoyed working with my clients who were new to trading because I could teach them about different strategies and ways to make smart decisions when it comes to investing. It was rewarding to see their portfolios grow over time as they became more confident in their investment choices.”

16. What do you think are the most important qualities for a successful team member?

This question is an opportunity to show your leadership skills and ability to work with others. A strong team can help you succeed in your role, so it’s important to be able to identify the qualities that make a good teammate.

Example: “I think the most important quality for a successful team member is communication. I believe it’s important to communicate openly and honestly with my coworkers about any issues or concerns I have. This helps me feel more comfortable asking questions when I need to and also makes it easier to share information and ideas with my colleagues.”

17. General Motors is a company that emphasizes innovation. What do you think is the most important thing to remember when trying to be innovative?

General Motors is a company that values innovation, and the interviewer may ask this question to see if you can relate your own experiences with being innovative. In your answer, try to explain what it means to be innovative and how you would apply those principles in your work at General Motors.

Example: “In my experience, I’ve found that the most important thing when trying to be innovative is to remember that there are no mistakes. When we’re working on something new, it’s easy to get caught up in our thoughts about whether or not we’re doing things right. However, I think it’s more productive to focus on learning from each mistake rather than worrying about making them.”

18. Why is risk management so important in trading?

Interactive Brokers Group is a deep discount broker, which means it offers lower commissions than other brokers. This can be appealing to traders who want to make more trades and invest in more assets without paying higher fees.

Risk management is an important part of trading because it helps you understand the risks involved with investing in different assets. It’s important that you know how to manage your risk so you don’t lose money on investments. Your answer should show the interviewer that you understand why risk management is important and what steps you take to ensure you’re managing your risk appropriately.

Example: “Risk management is essential for any trader or investor. If you don’t have proper risk management strategies in place, you could end up losing all of your investment capital. I always make sure to do my research before making any trades or investments so I know exactly what I’m getting into.”

19. Give an example of a time when you had to work under tight deadlines.

This question is a great way to assess your time management skills and ability to prioritize tasks. When answering this question, it can be helpful to mention the specific steps you took to complete the project on time.

Example: “In my last role as an investment advisor, I had to meet with clients every week to discuss their financial goals and how they were progressing toward them. One week, I was scheduled to meet with three different clients at separate times throughout the day. Unfortunately, one of those meetings got canceled due to unforeseen circumstances. I knew that if I didn’t reschedule the meeting within 24 hours, I would have to wait another week before seeing that client. So, I called the client and explained the situation. Luckily, they understood and agreed to meet with me later in the week.”

20. How did you manage your time while going to school full-time and working part-time?

This question can help the interviewer understand how you manage your time and responsibilities. Use examples from your previous job or school schedule to explain how you organized your time and prioritized tasks.

Example: “In my last semester of college, I was working full-time as a marketing intern at an advertising agency while taking classes for my bachelor’s degree in business administration. My internship required me to work 40 hours per week, so I had to balance my class schedule with my internship duties. I would wake up early every morning to get ready for work, then attend all of my classes during the day. After work, I would study until it was time to go to bed.”