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 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
• Tastytrade
• WeBull
• Fidelity

Tradestation

TradeStation

4.2 / 5 ★★★★★

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• Overview
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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, IRA, Custodial, Joint brokerage, Trust
Annual fee	$0 per month
Available asset types	Stocks, Bonds, Options, Mutual funds, ETFs, Cryptocurrency, Futures

Annual fee	0%

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Tastytrade

Tastytrade

4.4 / 5 ★★★★★

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• Overview
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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 types	Brokerage, IRA, Trust
Annual fee	$0 per year
Available asset types	Stocks, Options, ETFs, Cryptocurrency, Futures, Treasury Bills

Annual fee	0%

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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, IRA
Annual fee	$0 per month
Available asset types	Stocks, Options, ETFs, Cryptocurrency

Annual fee	0%

Fidelity

Fidelity Investments

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

Annual fee	0%

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

1 - 9 of 9

Name	Product USFST	Ratings	Available asset types	Stock trade fee	Minimum deposit	Cash sweep APY	Signup bonus
Tastytrade Finder Score: 4.4 / 5: ★★★★★ Tastytrade Finder Score: 4.4 / 5: ★★★★★		★★★★★	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.	Go to siteView details	loading Fetching your data...
Robinhood Finder Score: 4.5 / 5: ★★★★★ Robinhood Finder Score: 4.5 / 5: ★★★★★		★★★★★	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.	Go to siteView details	loading Fetching your data...
OPTO Finder Score: 3.1 / 5: ★★★★★ OPTO Finder Score: 3.1 / 5: ★★★★★		★★★★★	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.	Go to siteView details	loading Fetching your data...
EXCLUSIVE eToro Finder Score: 4 / 5: ★★★★★ eToro Finder Score: 4 / 5: ★★★★★	EXCLUSIVE	★★★★★	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.	Go to siteView details	loading Fetching your data...
Public.com Finder Score: 4.3 / 5: ★★★★★ Public.com Finder Score: 4.3 / 5: ★★★★★		★★★★★	Stocks, Bonds, Options, ETFs, Cryptocurrency, Alternatives, Treasury Bills, High-yield cash account	$0	$0	4.6%	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.	Go to siteView details	loading Fetching your data...
Stash Finder Score: 3.7 / 5: ★★★★★ Stash Finder Score: 3.7 / 5: ★★★★★		★★★★★	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.	Go to siteView details	loading Fetching your data...
Wealthfront Finder Score: 4.5 / 5: ★★★★★ Wealthfront Finder Score: 4.5 / 5: ★★★★★		★★★★★	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.	Go to siteView details	loading Fetching your data...
Zacks Trade Finder Score: 3.8 / 5: ★★★★★ Zacks Trade Finder Score: 3.8 / 5: ★★★★★		★★★★★	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.	Go to siteView details	loading Fetching your data...
M1 Finance Finder Score: 4.1 / 5: ★★★★★ M1 Finance Finder Score: 4.1 / 5: ★★★★★		★★★★★	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.	Go to siteView details	loading Fetching your data...

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Written by

Kimberly Ellis

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

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