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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.

WeBull

Webull

4.4 / 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 typesBrokerage, IRA
Annual fee0%
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, Custodial, Joint brokerage, Trust
Annual fee0%
Available asset typesStocks, Bonds, Options, Mutual funds, ETFs, Cryptocurrency, Gold/Commodities, CDs, Treasury Bills

Tradestation

TradeStation

4.2 / 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 fee0%
Available asset typesStocks, Bonds, Options, Mutual funds, ETFs, Cryptocurrency, Futures

Tastytrade

Tastytrade

4.6 / 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 fee0%
Available asset typesStocks, Options, ETFs, Cryptocurrency, Futures, 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 - 5 of 5
Name Product Ratings Available asset types Minimum deposit Stock trade fee Cash sweep APY Signup bonus
SoFi Invest®
Finder Score: 4.1 / 5: ★★★★★
SoFi Invest®
★★★★★
Stocks, Options, Mutual funds, ETFs, Alternatives
$0
$0
0.01%
Get up to $1,000 in stock
when you fund a new account within 30 days
Tastytrade
Finder Score: 4.6 / 5: ★★★★★
Tastytrade
★★★★★
Stocks, Options, ETFs, Cryptocurrency, Futures, Treasury Bills
$0
$0
N/A
Get $100-$5,000
when you open and fund an account with $5,000 to $1,000,000+
Highly commended for Best Derivatives Trading Platform award.
Public.com
Finder Score: 4.1 / 5: ★★★★★
Public.com
★★★★★
Stocks, ETFs, Cryptocurrency, Art, Treasury Bills, Collectibles
$0
$0
5.1%
N/A
2.5% fee applies to all alternative asset transactions.
Robinhood
Finder Score: 4.3 / 5: ★★★★★
Robinhood
★★★★★
Stocks, Options, ETFs, Cryptocurrency
$0
$0
1.5%, or 5% with Robinhood Gold
Get a free stock
when you successfully sign up and link your bank account.
Try Robinhood Gold for 30 days risk-free upon signup and earn a 5% APY on your uninvested cash, a 3% match on IRA contributions, up to $50,000 in instant deposits and more. Accounts are auto-downgraded after the trial period.
Moomoo
Finder Score: 4.7 / 5: ★★★★★
Exclusive
Moomoo
★★★★★
Stocks, Options, ETFs
$0
$0
5.10%
Choose a 1.5% match or 7 free fractional shares
when you open a new account and meet funding requirements
No commission stock and ETF trading, with a chance to get a 1.5% cash reward match or 7 free fractional shares.
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Finder is not an adviser or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.

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