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Interactive Brokers alternatives

If you’re looking for a trading platform that’s similar to Interactive Brokers, here are some options to consider.

Our pick: Tastytrade

Tastytrade logo
  • Trade stocks, ETFs, options and futures
  • Advanced charting, tools
  • Access to Tastytrade educational resources
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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 four 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.

Tradestation

TradeStation

4 / 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 typesBrokerage, IRA, Custodial, Joint brokerage, Trust
Annual fee$0 per month
Available asset typesStocks, Bonds, Options, Mutual funds, ETFs, Cryptocurrency, Futures

Tastytrade

Tastytrade

4.4 / 5 ★★★★★

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Tastytrade 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 Tastytrade 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 typesBrokerage, IRA, Trust
Annual fee$0 per year
Available asset typesStocks, Options, ETFs, Cryptocurrency, Futures, Treasury Bills

WeBull

Webull

4.7 / 5 ★★★★★

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 typesBrokerage, IRA
Annual fee$0 per month
Available asset typesStocks, Options, ETFs, Cryptocurrency

Fidelity

Fidelity Investments

4.6 / 5 ★★★★★

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 typesBrokerage, IRA, Custodial, Joint brokerage, Trust
Annual fee$0 per year
Available asset typesStocks, Bonds, Options, Mutual funds, ETFs, Cryptocurrency, Gold/Commodities, CDs, Treasury Bills

Pros and cons of Interactive Brokers

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

Pros

  • Advanced charting and research tools
  • Impressive investment selection, including 135 global exchanges
  • Low brokerage fees that depend on volume

Cons

  • Platform has a steep learning curve
  • Requires a net worth of at least $20,000 to open an account
  • Despite its low fees, the pricing system is more complicated than most brokers

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

1 - 10 of 10
Name Product USFST Ratings Available asset types Stock trade fee Minimum deposit Cash sweep APY Signup bonus
Tastytrade
Finder Score: 4.4 / 5: ★★★★★
Tastytrade
★★★★★
Stocks, Options, ETFs, Cryptocurrency, Futures, Treasury Bills
$0
$0
N/A
Get $50-$5,000
Competitive, capped options commissions, with a reliable trading platform designed for serious traders.
Robinhood
Finder Score: 4.6 / 5: ★★★★★
Robinhood
★★★★★
Stocks, Options, ETFs, Cryptocurrency
$0
$0
4.5%
Get a free stock
Trade stocks, options, ETFs and crypto without commissions and on a user-friendly platform. Plus, a 1% IRA match and no options contract fees.
SoFi Invest®
Finder Score: 4.3 / 5: ★★★★★
SoFi Invest®
★★★★★
Stocks, Options, Mutual funds, ETFs, Alternatives
$0
$0
0.02%
Get up to $1,000 in stock
Zero-commission stocks, ETFs and options, with no options per-contract fees. Plus, a complimentary access to financial planners.
OPTO
Finder Score: 3.8 / 5: ★★★★★
OPTO
★★★★★
Stocks, ETFs
$0
$0
N/A
Earn up to $300
AI-driven thematic investing, with proprietary research, fractional shares and commission-free stocks and ETFs.
eToro
Finder Score: 4.3 / 5: ★★★★★
EXCLUSIVE
eToro
★★★★★
Stocks, Options, ETFs, Cryptocurrency
$0
$0
4.9%
FINDER EXCLUSIVE: Get a guaranteed $15 bonus and $10 in free crypto
No commission stock, ETF and options trades, with 4.9% interest on your options account balance and no options contract fees.
Public.com
Finder Score: 4.4 / 5: ★★★★★
Public.com
★★★★★
Stocks, Bonds, Options, ETFs, Cryptocurrency, Alternatives, Treasury Bills, High-yield cash account
$0
$0
4.35%
Get up to $10,000 and transfer fees covered
Build a diversified portfolio of stocks, bonds, options, ETFs, crypto and alternative assets, with a high-yield cash account and options contract rebates.
Stash
Finder Score: 3.7 / 5: ★★★★★
Stash
★★★★★
Stocks, ETFs
$0
$0
0.1%
Get $10 when you sign up and deposit $5
Automated investing, individual stock and ETF investing and banking services for as low as $3 per month.
Wealthfront
Finder Score: 4.5 / 5: ★★★★★
Wealthfront
★★★★★
Stocks, ETFs
$0
$500
5%
Get $50
Automated stock and bond ETF investing with the ability to trade individual stocks for as little as $1 apiece.
Zacks Trade
Finder Score: 3.9 / 5: ★★★★★
Zacks Trade
★★★★★
Stocks, Bonds, Mutual funds, ETFs, CDs
$0.01
$250
2.83%
Get up to $500
Trade stocks, options, ETFs, mutual funds and bonds, with powerful trading tools and low margin rates.
M1 Finance
Finder Score: 4.1 / 5: ★★★★★
M1 Finance
★★★★★
Stocks, ETFs, Cryptocurrency
$0
$100
4.25%
N/A
Build a custom portfolio of stocks and ETFs with automatic rebalancing. Plus, earn 4.25% APY with a high-yield cash account.
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Writer

Kimberly Ellis is a personal finance writer at Finder, specializing in banking and financial literacy. After teaching in public and private schools, Kimberly zeroed in on personal financial education to help families and kids develop lifelong money skills. She hails from New York City, graduating summa cum laude from Queens College with a BA in elementary education and mathematics, as well as a New York State teaching certificate. She’s also an aspiring polyglot, always in a book and forever on the hunt for the perfect classic red lipstick. See full bio

Kimberly's expertise
Kimberly has written 85 Finder guides across topics including:
  • Kids' banking
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