Interactive Brokers alternatives

Interactive Brokers offers low fees for active and professional investors. But its advanced charting tools and $20,000 net worth requirement might be too intimidating for some traders. Here are five trading platforms that give Interactive Brokers a run for their money.

Alternatives to Interactive Brokers

These brokers are strong competitors that deliver similar — if not better — features.

TD Ameritrade

TD Ameritrade

4.37 / 5 ★★★★★

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TD Ameritrade is a full-service broker that gives you access to a suite of tools and educational resources to get started. But its real-time market research makes the platform robust enough to grow with you as you gain trading experience. And TD Ameritrade's tools and research can hold their own against Interactive Brokers. For example, you'll get technical analysis tools, such as candlestick charts, and market analysis reports to compare asset performance.

While TD Ameritrade doesn't have the same third-party software integrations and access to international markets as Interactive Brokers, casual traders won't get hit with an inactivity fee. What's more, if you need some extra help, you can get advice on your portfolio through its brokerage services, including robo-advising or speaking with an investment advisor.

Account types	Brokerage, Retirement, Education, Custodial, Specialty
Option trade fee	$0 + $0.65/contract, or $25 broker-assisted
Asset types	Stocks, Bonds, Options, Mutual funds, ETFs, Currencies, CDs, Futures, Forex

Annual fee	$0 per year

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WeBull

Webull

4.6 / 5 ★★★★★

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Webull and Interactive Brokers go toe-to-toe in many areas. For example, both platforms have comprehensive analysis tools, including customizable technical charts and real-time market data, that work well for day traders and short-term investors. And both offer paper trading accounts for market simulations, so you can test out new trading strategies before you put any real money on the line.

The biggest kicker is Webull's extended-hours trading, which makes the full trading day from 4 am to 8 pm. Only Interactive Brokers Pro customers can get such an early head start.

Account types	Brokerage, Retirement
Annual fee	0%
Option trade fee	$0
Asset types	Stocks, Options, ETFs, Cryptocurrency

Annual fee	0%

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Fidelity

Fidelity Brokerage Account

4.2 / 5 ★★★★★

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Fidelity is an adaptable platform that appeals to all types of investors — new or experienced. Its platform is more intuitive with a user-friendly interface, so it doesn't scare off beginners. And more experienced investors can customize its desktop version to make their own trading powerhouse.

While Fidelity offers similar trading fees as Interactive Brokers, it sets itself apart with its Cash Management Account (CMA), which can be linked to your brokerage accounts. The CMA comes with a Visa debit card, free checks and unlimited ATM fee reimbursements throughout the United States.

Account types	Brokerage, Retirement
Option trade fee	$0 + $0.65/contract
Asset types	Stocks, Bonds, Options, Mutual funds, ETFs

Annual fee	N/A

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Tradestation

TradeStation

4.1 / 5 ★★★★★

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Tradestation is one of Interactive Brokers' top competitors with its in-depth research tools, portfolio analysis features and third-party integrations. And while both platforms have a steep learning curve, Tradestation took steps to streamline its onboarding process in 2019 and improve overall usability.

With Tradestation, you'll get access to extensive educational resources, including hundreds of webinars, as well as dynamic trading software on both its desktop platform and mobile app. But what sets it apart from Interactive Brokers, which only offers crypto futures, is the ability to own crypto assets directly.

But since Tradestation has a $2,000 minimum opening deposit, it's better for active, high-volume traders.

Account types	Brokerage, Retirement
Option trade fee	$0 + $0.50/contract
Asset types	Stocks, Bonds, Options, Mutual funds, ETFs, Cryptocurrency

Annual fee	$0 per month

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Tastyworks

Tastyworks

3.9 / 5 ★★★★★

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Tastyworks is a derivatives-focused platform with sophisticated tools to help you evaluate volatility, risk and potential opportunities. You'll get multiple watchlists, basic charting and a straightforward trade ticket. But what makes Tastyworks stand out is its graphical derivative trading analysis that produces a bell-shaped curve to help you find contracts.

You won't pay commissions on stocks and ETFs or to close options and futures trades. But you'll pay to open them.

Account types	Retirement
Annual fee	0%
Option trade fee	Stocks & ETFs: $1/contract to open, $0 to close, $10 max/leg Futures: $2.50/contract to open, $0 to close
Asset types	Stocks, Options, ETFs, Cryptocurrency

Annual fee	0%

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Pros and cons of Interactive Brokers

Here are a few reasons why Interactive Brokers is a trading favorite and several of its limitations.

How to transfer your brokerage account

If you’re swapping brokers, the process may vary depending on your current broker and which one you’re moving to. Interactive Brokers allows one free transfer request per calendar month. After that, it charges $10 to wire transfer funds to another account and close your current one.

Interactive Brokers uses the Automated Customer Account Transfer Service (ACATS). You can expect to go through the following process.

1. Fill out a transfer initiation form with your new broker.
2. Your current broker validates your form or notifies you of next steps within three business days.
3. Your old broker completes the process and moves funds between four and eight business days.
4. Note: Some brokers don’t accept the proprietary funds of others. So you may not be able to transfer mutual funds or ETFs managed by your old broker.

Compare trading platforms

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Name	Product	Asset types	Stock trade fee	Minimum deposit	Signup bonus
SoFi Invest SoFi Invest		Stocks, ETFs, Cryptocurrency	$0	$0	$10 - $100 when you open an account and place a first crypto trade of $50 - $5,000+	A free way to invest in most equities.	Go to site More Info		loading Fetching your data...
BONUS eToro eToro		Stocks, ETFs, Cryptocurrency	$0	$10	8%-12% of your deposit when you sign up and deposit at least $50. T&Cs apply.	Trade stocks in the app or online with $0 commissions. Not available in NY, NV, MN, TN, and HI.	Go to site More Info		loading Fetching your data...
Tastyworks Tastyworks		Stocks, Options, ETFs, Cryptocurrency	$0	$0	$200 in US stocks when you open and fund an account with min. $2,000 for 3+ mos.	Trade stocks, options, ETFs and futures on mobile or desktop with this advanced platform.	Go to site More Info		loading Fetching your data...
Public Public		Stocks, ETFs, Cryptocurrency	$0	$0	Receive a free stock slice worth between $3–$300 when you sign up for an account and deposit at least $20.	Commission-free trading in stocks and ETFs with a social networking twist.	Go to site More Info		loading Fetching your data...
JPMorgan Self-Directed Investing JPMorgan Self-Directed Investing		Stocks, Bonds, Options, Mutual funds, ETFs	$0	$0	$125 - $625 when you open and fund an account with $25,000 - $250,000+	INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE	Go to site More Info		loading Fetching your data...
Robinhood Robinhood		Stocks, Options, ETFs, Cryptocurrency	$0	$0	Get a free stock when you successfully sign up and link your bank account.	Make unlimited commission-free trades, plus earn 3% interest on uninvested cash in your account with Robinhood Gold.	Go to site More Info		loading Fetching your data...

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