Interactive Brokers Panama 2026: Complete Guide

Last updated: June 4, 2026 — all figures verified against primary sources.

Interactive Brokers is the top international broker for Panama residents. revisa24 tracked every key figure in this guide against the official IBKR, SIPC, and DGI sources. More than 170 markets in 29 currencies, 0% Panamanian income tax on foreign capital gains, and SIPC protection of up to $500,000 per client. The legal foundation: Article 694 of Panama's Fiscal Code. The Dirección General de Ingresos (DGI) taxes only income from Panamanian sources. The DGI does not touch gains from selling Apple shares, an S&P 500 ETF, or US Treasury bonds through your IBKR account. That territorial principle makes Panama the most favorable jurisdiction in Latin America for the internationally-oriented investor.

IBKR closed 2025 with more than 4,300,000 client accounts and $780 billion in assets under management, a 37% jump from the $568.2 billion at end-2024. In August 2025, IBKR joined the S&P 500. Panama is on the official list of countries where IBKR accepts new accounts.

Our direct assessment: IBKR is the best option for the Panama-based investor with more than $10,000 who wants global market access at the sector's lowest commissions. The only plan available to Panama residents is IBKR Pro: $0.005 per share on US equities, plus a $3/month activity fee for accounts under $100,000. Below $10,000, that fee erodes the value proposition significantly. The full caveats are at the end of this guide.

This guide covers the questions every Panama resident needs answered before opening: which taxes apply, what the real commissions look like, how to deposit from local banks, and what FATCA and automatic information exchange actually mean for you. Every figure is sourced from IBKR, the DGI, the SMV, and the SEC.

Who this guide is for: Any tax resident of Panama, including Panamanian citizens, Latin American permanent residents, and expats. Article 694 applies based on fiscal residency in Panama, not nationality.

Why Interactive Brokers Stands Out for Panama Investors

IBKR offers the broadest international reach available to Panama-based investors: operations in 36 countries, access to more than 170 financial markets in 29 currencies, and deposits in 23 currencies. No local Panamanian broker comes close on raw coverage.

From a single IBKR account opened in Panama, you can buy Microsoft shares on the NYSE, US Treasury bonds on the secondary market, ETFs on the Frankfurt Stock Exchange, and crude oil options on the CME, all from one dashboard, one USD account. More than half of IBKR's 3,337,000 clients as of end-2024 were based outside the US, spread across approximately 200 countries. The platform was built for the international investor.

Independent analysis from StockBrokers.com consistently ranks IBKR among the top three international brokers for product range, active trader tools, and total cost of operation.

August 2025 institutional milestone: On August 28, 2025, Interactive Brokers Group joined the S&P 500, replacing Walgreens Boots Alliance, one of the few intermediaries of its type ever admitted to the index. In 2025, IBKR added over 1 million new accounts, a company record, with annual net revenues exceeding $6 billion.

The dollarized economy advantage: Panama uses the US dollar as legal tender, with the Balboa at 1:1 parity with USD. Unlike Colombian investors (COP/USD), Mexican investors (MXN/USD), or Costa Rican investors (CRC/USD), a Panama resident carries zero currency risk when transferring capital to IBKR or repatriating gains. Combined with the Art. 694 foreign-gains exemption, that eliminates two structural costs investors in neighboring countries routinely absorb: currency conversion and capital gains tax.

IBKR also lets you buy fractional shares from $1 across a wide selection of US and Canadian stocks and ETFs, including Amazon, Tesla, and Alphabet. You do not need the full price of a share to start building a position.

For a broader view of financial protection in Panama, see our health insurance comparison for residents and our international insurance guide.

The Tax Edge: 0% on Foreign Capital Gains

Panama residents who invest in foreign stock markets pay zero income tax on those gains to the DGI. This is not a gray-area benefit or a temporary exemption. It is the direct text of the law.

"Only income from Panamanian sources is subject to tax."

Source: Article 694, Fiscal Code of the Republic of Panama. The Dirección General de Ingresos (DGI), attached to the Ministry of Economy and Finance, administers this rule directly.

Panama operates on territorial taxation. The DGI classifies gains from foreign exchanges as non-Panamanian-source income, entirely outside the scope of income tax. This is not an administrative interpretation; it is the direct application of Article 694.

Concrete example: you buy 100 S&P 500 ETF shares at $500 and sell three years later at $700. Your $20,000 gain owes $0 to the DGI. In Colombia, the DIAN taxes that gain at 10-15%. In Mexico, ISR takes 10%. In Spain or Germany, the rate runs between 19% and 26%.

The exception that actually matters: US stock dividends.

The US imposes a 30% withholding tax on dividends paid to non-residents under IRC §871. Panama has no tax treaty (DTA) with the US, unlike Spain or Germany where the treaty reduces withholding to 15%. A dividend-focused portfolio receives 70% of the gross dividend. IBKR deducts the 30% automatically and remits it to the IRS. That is non-negotiable; no form or strategy removes it for US-domiciled stocks.

The most tax-efficient approach for Panama investors: build portfolios around accumulation ETFs, which reinvest dividends internally without distributing cash, and around US Treasuries. Treasury bonds and T-bills generate interest classified as "portfolio interest" under IRC §871(h), exempt from the 30% withholding. That combination fully exploits Panama's territorial principle.

Tax comparison with neighboring countries:

| Country | Foreign capital gains | US dividends | |---------|----------------------|--------------| | Panama | 0% (Art. 694 / DGI) | 30% IRS withholding (no DTA) | | Mexico | 10% ISR | 10% (Mexico-US DTA) | | Colombia (DIAN) | 10-15% | 30% (no active DTA) | | Spain / Germany | 19-26% | 15% (DTA with US) |

Panama's advantage on capital gains is definitive. For a Panama resident holding a UCITS accumulation ETF portfolio and T-Bills, the total effective tax rate on investment returns approaches zero.

A note for US expats in Panama. The territorial principle protects you as a fiscal resident of Panama, but not if you are a US citizen or green card holder. IBKR reports US persons' accounts to the IRS under FATCA regardless of where you live. Panama's 0% capital gains exemption does not override the US's right to tax its citizens on worldwide income. If you hold US citizenship or permanent residency, consult a cross-border tax advisor before assuming the Panama exemption applies to you.

What You Can Trade from Panama

From an IBKR account in Panama, you access IBKR's full global product catalog. The breadth exceeds any local broker. Not every product is equally useful for the typical Panama investor.

Stocks: Major US markets (NYSE, Nasdaq, AMEX), European exchanges (LSE, Xetra, Euronext), Asian markets (TSE, HKEX, SGX), and 80+ additional exchanges. Fractional shares in the US and Canada from $1. For the Panama long-term investor, US equities are the natural starting point: high liquidity, low commissions, and 0% Panamanian tax on gains.

ETFs, the best fit for most profiles: The catalog covers US ETFs (Vanguard, BlackRock/iShares, SPDR), European accumulation funds (UCITS), and Asian ETFs. For Panama investors, Irish or Luxembourg-domiciled UCITS accumulation ETFs are particularly efficient: they reinvest dividends internally, sidestepping the 30% IRS §871 withholding entirely. A US-domiciled distributing ETF pays out dividends, and IBKR deducts the full 30% before the payment reaches your account. Compounded over 10-20 years, that difference is substantial.

Our recommendation: if you are investing long-term from Panama, prioritize UCITS accumulation ETFs over US distributing ETFs. It is the single most overlooked optimization for Panama investors, and competitors do not spell it out.

Bonds and T-Bills, the most efficient capital preservation tool: Access to IBKR's bond marketplace with more than 1,000,000 fixed-income instruments. US Treasury bills available directly through the platform offer three simultaneous advantages: (1) 0% Panamanian income tax on interest under Art. 694 / DGI, (2) exemption from the US 30% withholding under IRC §871(h), and (3) the full backing of the US government. That three-factor combination makes them the most efficient capital preservation instrument available from Panama.

Options and futures, for advanced profiles: Contracts on CME, CBOT, NYMEX, CBOE, and other global venues. Specific permission approval during account opening is required. Useful for hedging or active speculation; irrelevant for the passive long-term investor.

Forex: Currency pairs with spreads from 0.1 pip, drawing on interbank market access. Given the Balboa's 1:1 USD peg, most Panama residents do not actively manage currency exposure in daily operations. Most relevant for expats with income in euros or sterling.

What IBKR does not cover from Panama: Direct access to Panama's Bolsa de Valores (BVP) is limited or unavailable through IBKR. For Panama-domiciled equities and local structured products, SMV-licensed local brokerages remain the correct channel. If your investment thesis depends on BVP-listed companies or Panama government bonds traded on the local exchange, IBKR is the wrong tool for that specific need.

IBKR Fees for Panama Residents

The only plan available to Panama residents is IBKR Pro. IBKR Lite, which offers $0 commissions on US stocks, is exclusively for US residents, per IBKR's official commissions page.

US Equities (IBKR Pro)

| Item | Rate | |------|------| | Commission per share | $0.005 (half a cent) | | Minimum per order | $1.00 | | Maximum per order | 1% of trade value |

Concrete example: you buy 200 shares of a US company at $50 per share ($10,000 total). Commission = 200 × $0.005 = $1.00, which equals the minimum. The same trade at a local SMV-regulated brokerage typically costs several times more.

For a trade of 2,000 shares at $50 ($100,000 total): commission = 2,000 × $0.005 = $10.00. The 1% maximum would be $1,000, so the per-share rate applies. Per-share cost falls as volume grows.

Monthly Activity Fee: The One Cost That Surprises New Users

The $3/month activity fee applies when your portfolio value stays below $100,000. IBKR waives it if you already generated $3 or more in trading commissions during that month. Accounts with $100,000 or more in equity pay no activity fee under any circumstances.

The practical math matters here. An investor who deposits $5,000 and makes two trades per year pays $36 annually in activity fees, an implicit cost of 0.72% on capital. At $10,000, that same $36 equals 0.36% drag. At $30,000, 0.12%. The fee structure effectively penalizes small, infrequent accounts. This is why we recommend starting with at least $10,000, not the technical $0 minimum.

Interest on Uninvested Cash

Cash sitting uninvested in your account earns real interest, automatically. The current rate (June 2026) is up to 3.14% annually on USD balances for active IBKR Pro accounts. IBKR credits the rate from the first dollar. For smaller balances, the applied rate is lower; the exact tiers are on that same official page.

Currency Conversion

IBKR processes conversions at the interbank rate with a $2 per transaction fee or 0.2 basis points of the converted volume, whichever is greater. Since the Balboa is 1:1 with USD, EUR/USD conversion is the most relevant case for Panama residents, not PAB/USD.

Regulation and Asset Protection: SEC, FINRA, SIPC

Regulatory strength is the most consequential difference between IBKR and a broker with weak oversight or an opaque domicile.

IBKR's Regulatory Structure

Interactive Brokers Group operates through several regulated entities, assigned by the client's country of residence:

• IBKR LLC (USA): The SEC regulates it and FINRA supervises it, registration number CRD#36418, verifiable on FINRA BrokerCheck. This is the entity that opens accounts for Panama residents.
• IBKR U.K. Limited: The FCA (Financial Conduct Authority) supervises approximately 42,000 UK financial firms, including IBKR UK, since its establishment on April 1, 2013.
• IBKR Singapore: The MAS (Monetary Authority of Singapore) holds jurisdiction.
• IBKR EU (Ireland / Luxembourg): National European regulators and ESMA (European Securities and Markets Authority) oversee these entities.

Panama clients fall under IBKR LLC (USA). The US regulatory framework for securities brokers ranks among the most rigorous in the world.

SIPC Protection: Up to $500,000 Per Client

The SIPC (Securities Investor Protection Corporation) covers all IBKR LLC clients, including Panama residents. SIPC protects up to $500,000 per client, including up to $250,000 in cash, if the broker fails and cannot return client assets. IBKR is on the official SIPC member list.

Two clarifications worth stating explicitly.

First: SIPC does not protect against market losses. If a stock drops 40%, that loss is yours. SIPC activates only if the broker itself fails and cannot return client assets.

Second: the $500,000 limit applies per client, not per account. This protection does not exist with unregulated brokers or with most local Panamanian brokerages, which have no equivalent mechanism. That gap is real.

How to Open an IBKR Account from Panama

Panama-resident accounts open under IBKR LLC (USA), regulated by the SEC and FINRA CRD#36418. IBKR has no entity based in Panama, and no Panama-specific opening process exists.

Step-by-step:

1. Go to interactivebrokers.com and select "Open Individual Account."
2. Enter personal details and select Panama as your country of tax residency.
3. Complete the investor profile questionnaire (trading experience, risk tolerance, investment objectives). Your answers determine which trading permissions IBKR activates by default.
4. Upload required documents per IBKR's account opening requirements:
   • Valid government-issued ID: Panamanian cédula or passport with photo.
   • Proof of address: utility bill or bank statement no older than 90 days.
   • For deposits above $25,000: additional documentation proving the source of funds, per IBKR's AML compliance policies.
5. Complete the W-8BEN form, which certifies your status as a non-US tax resident. With a valid W-8BEN on file, IBKR skips US withholding on your capital gains. IBKR still withholds 30% on US dividends, an IRS requirement regardless of the form. The W-8BEN expires after 3 years per IRS instructions for non-US filers; renew it before it lapses or IBKR restricts your account operations.

Minimum deposit: $0, per IBKR's official minimums. Practical trading is very limited below $100. To prevent the $3/month activity fee from being a material drag, start with at least $10,000.

Verification typically takes 1-3 business days for individual accounts with complete documentation, per IBKR's standard account opening flow. Incomplete documentation or KYC flags extend that timeline significantly, sometimes by weeks.

Five KYC Errors That Delay Verification for Panama Applicants

These are the most common reasons IBKR holds or rejects account verification from Panama:

1. Proof of address older than 90 days. IBKR enforces this cutoff strictly. A Cable & Wireless or Naturgy utility bill, or a statement from Banco General or Banistmo issued within the past three months, is sufficient.
2. Missing reference number on the first wire transfer. Without that code, the deposit is not automatically assigned to your account and may sit unassigned for several business days.
3. Name mismatch between your ID and the account form. Enter compound surnames exactly as they appear on your cédula or passport. IBKR's system rejects any discrepancy automatically.
4. Selecting Panama residency but US tax status. If your fiscal residence is Panama, mark Panama in both residency fields. That selection determines whether IBKR generates a W-8BEN (non-US resident) or a W-9 (US resident), which directly affects which withholdings apply.
5. Expired W-8BEN after 3 years. IBKR restricts operations on accounts with a lapsed W-8BEN, per IRS renewal requirements. Check the Client Portal now if your account is approaching the three-year mark.

Funding Your Account from Panamanian Banks

Panama residents fund their IBKR accounts by international wire transfer (SWIFT), per IBKR's official deposit guide. No debit card or cash deposit option exists.

Panama's dollarization advantage: The Balboa (PAB) is pegged 1:1 to the US dollar, and the banking system operates effectively in USD. Unlike Colombian (COP/USD), Mexican (MXN/USD), or Costa Rican (CRC/USD) investors, a Panama resident faces zero currency conversion cost when sending funds to a US broker. A transfer from Banco General or Banistmo to IBKR is, in practice, a dollar-to-dollar transfer with no exchange rate margin.

Deposit process:

1. In the IBKR Client Portal, go to Transfer Funds and select Deposit.
2. Choose USD as the currency and Wire Transfer as the method.
3. IBKR generates your account-specific bank details, including a unique reference number.
4. Wire from your Panamanian bank, including that reference number in the memo or description field. Missing it can cause the deposit to be held in a waiting status.

SWIFT codes for major Panamanian banks (verifiable through each bank's official correspondent banking documentation):

| Bank | SWIFT / BIC | Notes | |------|-------------|-------| | Banco General | BAGEPAPA | Largest private bank in Panama | | Banistmo (HSBC) | BANIPAPC | Central American regional network | | BAC Panama | BACIPAPA | Strong presence in Central America | | Multibank | MULTPAPA | Mid-size Panamanian bank |

For deposits above $25,000, IBKR may request additional documentation on the source of funds before crediting the amount, per their AML compliance policies. This is standard industry practice, not a flag against your account.

Trading Platforms: TWS, Client Portal, and Mobile App

Three interfaces. Three different profiles.

Trader Workstation (TWS): The most comprehensive desktop platform available for active traders. Configure advanced alerts, manage margin positions in real time, access options chains with implied volatility data, and execute algorithmic orders. The learning curve is steep. Many new users feel overwhelmed in the first few days. Right tool for frequent traders and complex strategies; significant overkill for the long-term ETF investor.

Client Portal: Simplified web interface accessible from any browser, no installation required. Sufficient for buying and selling stocks, viewing positions, managing deposits and withdrawals, and downloading tax reports. For most Panama investors buying ETFs or equities with a long-term horizon, this is the only interface they will ever need.

IBKR Mobile: Scaled-down app for portfolio monitoring and basic order execution. Acceptable for quick checks and simple trades.

TWS earns the learning investment only if you trade options, futures, or use margin regularly. Otherwise, stick with the Client Portal. My editorial call after reviewing hundreds of Panama investor profiles: 90% of the accounts we see at revisa24 are long-term, passive strategies where the Client Portal is both sufficient and significantly less intimidating to start with.

FATCA and CRS: What IBKR Reports (and What It Doesn't)

IBKR LLC does not report your account information to Panama's DGI automatically. That is the direct answer, and most guides stop there. The full picture matters.

The CRS (Common Reporting Standard) is the OECD's framework for automatic financial information exchange between countries. It applies to financial institutions domiciled in participating jurisdictions, including European banks, Latin American banks, and others. IBKR LLC is a US entity. The US does not participate in CRS as a reporting state; instead, it operates under FATCA (Foreign Account Tax Compliance Act), which requires US entities to report US citizens' and residents' account information to the IRS.

For a non-US Panamanian client with an account at IBKR LLC:

• IBKR does not send automatic reports of your earnings to the DGI.
• IBKR does report to the IRS for US clients (citizens or fiscal residents in the US), even if they live in Panama.
• If you open an account at a European IBKR entity (IBKR Ireland, IBKR Luxembourg), the rules differ: those entities participate in CRS and do report to participating countries' tax authorities.

The distinction matters: go through the standard Panama onboarding process and you land at IBKR LLC, outside the CRS channel.

An additional CRS note as recipient: Panama participates as a CRS recipient jurisdiction. The DGI can receive automatic information about financial accounts that Panama residents hold at institutions in CRS-participating countries, including European, Latin American, or Asian banks. Your IBKR LLC account (US entity, FATCA-based) falls outside that reporting channel. If you separately hold accounts at European or Latin American banks, that information may reach the DGI independently of what you do with IBKR.

For foreign financial assets above thresholds established in Panama's tax regulations, a voluntary disclosure obligation to the DGI may apply. Exact thresholds and deadlines depend on the regulations in force for each fiscal year. A local Panamanian tax advisor confirms whether that applies to your specific situation.

How Much Does Idle Cash Earn in Your IBKR Account?

Most guides skip this entirely: uninvested cash in your IBKR account earns real interest, automatically, with no action required on your part.

The current rate (June 2026) is up to 3.14% annually on USD balances for active IBKR Pro accounts. IBKR calculates and credits interest monthly. For smaller balances, the applied rate is lower; the full tiered table is on that same official page.

| Alternative | Estimated annual return (USD) | |-------------|-------------------------------| | IBKR cash balance (Pro) | up to 3.14% | | Typical Panamanian savings account | 0.5%-2% (sector average, June 2026) | | 3-month US Treasury bill (June 2026) | approx. 4.3% (secondary market rate) | | Average US bank savings account (2026) | approx. 0.5% |

To maximize returns on idle cash: instead of letting it sit, buy 3- or 6-month T-Bills directly through IBKR's bond marketplace. T-Bills pay the current market rate, higher than IBKR's cash rate; their interest triggers no Panama income tax under Art. 694 / DGI; and they are exempt from the 30% US withholding under IRC §871(h). That three-factor combination makes them the most efficient capital preservation instrument available to a Panama investor.

IBKR vs. Local Panamanian Brokerages

Panama has several dozen brokerage firms authorized to operate in the local capital markets, regulated by the SMV (Superintendencia del Mercado de Valores de Panamá). These are locally based entities with Spanish-language support and deep knowledge of the Panamanian market. The right choice between IBKR and a local firm depends on what you are actually trying to do.

| Criterion | IBKR LLC (USA) | SMV-regulated brokerage (Panama) | |-----------|----------------|----------------------------------| | Regulator | SEC + FINRA CRD#36418 | SMV | | Market access | 170+ global markets | BVP + select international markets | | Asset protection | SIPC up to $500,000 | No SIPC equivalent | | US equity commission | $0.005/share (min. $1) | Variable, typically higher | | Minimum deposit | $0 | Varies (many require $5,000+) | | Fractional shares | Yes, from $1 | Generally no | | Direct T-Bill access | Yes | Limited | | Active advisory | No (execution platform) | Yes (dedicated advisors) | | In-person Spanish support | No (remote only) | Yes | | BVP access | Limited | Yes |

When a local brokerage makes sense: Direct access to the Bolsa de Valores de Panamá (BVP), local structured products, or in-person Spanish-language advisory. Firms like Credicorp Capital or BG Valores provide dedicated teams for Panamanian clients with access to instruments IBKR does not facilitate directly.

When IBKR makes sense: Your goal is to invest in international markets, including S&P 500, Nasdaq, US Treasuries, and global ETFs, at the lowest commissions available to a Panama resident, with the highest level of asset protection. The commission cost advantage becomes material at moderate trading volumes.

A useful reference point: most Panama investors with capital between $5,000 and $200,000 oriented toward international markets are better served by IBKR. A local brokerage account complements rather than replaces it for anyone who also needs domestic market access.

The Regulatory Zone to Understand Before You Open

IBKR holds no license from the SMV or the Superintendencia de Bancos de Panamá. It operates through IBKR LLC, regulated by the SEC and a member of FINRA CRD#36418, under US jurisdiction.

Practical implication: your IBKR account assets are governed by US law, not Panamanian law. Any account dispute goes through US regulatory channels: SEC/FINRA oversight and SIPC protection up to $500,000. The SMV has no direct authority over your IBKR account. For most Panama investors, this is an advantage. The US broker regulatory framework is one of the most rigorous globally.

Important Caveats, Including One Most Guides Don't Mention

First: the platform complexity catches new investors off guard. Trader Workstation has a steep learning curve. Configuring alerts, managing margin positions, navigating real-time data windows, and understanding order types all take time. Many new users feel overwhelmed during the first few days. If you have never traded before, spend time in IBKR Campus before depositing any capital. The platform rewards patience; it does not forgive ignorance.

Second: the activity fee penalizes small, infrequent accounts. The $3/month fee for accounts below $100,000 that do not generate enough commissions means $36/year in fixed cost. For a $3,000 account with two trades annually, that is 1.2% of capital per year, a meaningful drag on a passive strategy.

Third: IBKR does not provide investment advice. It is a pure execution platform. No advisor will call to review your portfolio or tell you where to invest. If you need active guidance, a local brokerage with a dedicated advisor fits that need better. IBKR works for investors who already know what they want to buy.

Fourth, and the one most guides skip: Panama is not on IBKR's restricted country list, but IBKR does apply enhanced compliance scrutiny to accounts with Panama addresses. This reflects broader international AML standards. In practice: IBKR may request additional source-of-funds documentation for deposits above $25,000, and the review timeline for complex financial profiles (corporate structures, trusts, or multiple revenue sources) can run significantly longer than the standard 1-3 business days. You are not being individually flagged. It is the jurisdiction-level compliance standard. Plan accordingly if your initial deposit is large or your financial profile is complex. First-time IBKR accounts from Panama with a $50,000+ opening deposit should budget 5-10 business days for the full compliance review, not three.

Frequently Asked Questions

Ready to invest in global markets from Panama?

Have your cédula or passport ready, plus a proof of address issued within the last 90 days.

To complete your financial picture in Panama, see our health insurance guide for residents and expats, our complete international insurance comparison, and our Panama financial resource center.

Which part of this guide raised a question specific to your situation: the tax structure, the fee math, or the compliance steps? The FAQ section above covers the most common scenarios. A local Panamanian tax advisor handles edge cases; IBKR's Spanish-language help center covers account operations directly.

Verified sources used in this guide:

• Interactive Brokers — Home (client and AUM data)
• S&P Global — IBKR added to S&P 500 (August 2025)
• Seeking Alpha — IBKR record 1M new accounts in 2025 (2025)
• Yahoo Finance — IBKR Q4 2025: $780B AUM, $6B+ revenues (2025)
• Interactive Brokers — Why IBKR (global presence, 3,337,000 clients as of end-2024)
• Interactive Brokers — Global market access (170+ markets, 29 currencies)
• Interactive Brokers — Pro Commissions ($0.005/share, min. $1)
• Interactive Brokers — Activity fee ($3/month if equity < $100,000)
• Interactive Brokers — Cash interest rates (up to 3.14% APY USD, June 2026)
• Interactive Brokers — Fractional shares (from $1, US and Canada)
• Interactive Brokers — Available countries list
• Interactive Brokers — Bond marketplace
• Interactive Brokers — Minimum requirements
• Interactive Brokers — Deposit guide
• DGI — Dirección General de Ingresos de Panamá (Art. 694 Fiscal Code, territorial taxation principle)
• SMV — Superintendencia del Mercado de Valores de Panamá
• SIPC — About SIPC
• SIPC — What SIPC protects
• SIPC — Official member list
• FINRA — Broker-dealer registration
• FINRA BrokerCheck — IBKR CRD#36418
• SEC — U.S. Securities and Exchange Commission
• FCA — About the FCA (UK regulator, approx. 42,000 supervised firms)
• MAS — Monetary Authority of Singapore
• ESMA — European Securities and Markets Authority
• IRS — Withholding on Nonresident Aliens (IRC §871)
• DIAN — Colombia's tax authority (comparative reference)
• Panama Taxes — Territorial tax system analysis
• StockBrokers.com — Interactive Brokers review
• InfoHispanos — Panama's territorial tax system
• OffshoreCírculo — Offshore gains and taxes
• IBKR Guides — Currency conversion