TradeStation vs. Interactive Brokers: Which Broker Is Right for You?
Review
Updated
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TradeStation and Interactive Brokers are both highly-rated online brokers, especially designed for active investors and traders. Both offer high-powered trading platforms, lots of investment choices and account types, and reasonable fees. In this TradeStation vs. Interactive Brokers comparison, we'll take a side-by-side look to see which could be better for you.
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Rating 
4.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
= Fair
= Poor |
Rating
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor |
| Commissions |
Commissions |
Commissions |
| Account Minimum |
Account Minimum |
Account Minimum |
| Learn More |
Both of these brokers offer $0 commission stock and ETF trades. Interactive Brokers has a volume-based options commission structure. On the other hand, TradeStation uses a flat rate that is in-line with peers.
TradeStation and Interactive Brokers have the same standard $14.95 mutual fund commission, but Interactive Brokers has thousands available on a no-transaction-fee (NTF) basis, while TradeStation does not. TradeStation's account transfer fee is one of the highest we've come across, making it rather costly to move your assets to another broker.
| TradeStation | Interactive Brokers | |
|---|---|---|
| Stock & ETF commissions | $0 | $0 |
| Options commissions | $0.60 per contract | $0.15 to $0.65 per contract |
| Crypto commissions | N/A | 0.12% to 0.18% |
| Mutual fund commissions | $14.95 | $0 to $14.95 |
| Account transfer fee | $125 | $0 |
| Account maintenance fee | $0 | $0 |
There are a few key differences between these two brokers for investment availability.
For starters, TradeStation doesn't facilitate fractional share trading, while Interactive Brokers does. The latter could also be the better choice for mutual fund investors. Not only does Interactive Brokers have thousands of fee-free mutual funds to choose from, but with more than 48,000 mutual funds on its platform, it has the best selection of any broker on our radar.
Another big difference is cryptocurrency trading. Not long ago, both of these brokers would have been on a level playing field. However, TradeStation decided to discontinue cryptocurrency trading in February 2024, so while Interactive Brokers only offers a few major cryptocurrencies on its platform, it's the only choice if that is going to be part of your strategy.
Both of these platforms offer futures and foreign currency (forex) trading, and both allow investors to buy fixed-income securities, or bonds.
| TradeStation | Interactive Brokers | |
|---|---|---|
| Stocks and ETFs | Yes | Yes |
| Fractional shares | No | Yes |
| Options | Yes | Yes |
| Mutual funds | Yes, over 2,000 | Yes, over 48,000 |
| CDs | No | No* |
| Bonds | Yes | Yes |
| Futures | Yes | Yes |
| Crypto | No | Yes |
| Currencies | Yes | Yes |
We recommend comparing brokerage options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of our best trading platforms of 2025.
| Broker | Best For | Commissions | Learn More |
|---|---|---|---|
5.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor |
Full-service investing at every experience level | $0 commission for online U.S. stock and ETFs*. No account fees****. |
Learn More for Fidelity
On Fidelity's Secure Website. |
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor |
Managing your finances under one roof | $0 for stocks, $0 for options contracts |
Learn More for SoFi Active Investing
On SoFi Active Investing's Secure Website. |
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor |
Low fees on stocks, ETFs, crypto, and options | $0 for stocks, ETFs, and options |
Learn More for Robinhood
On Robinhood's Secure Website. |
Both allow brokers for joint investment accounts, both offer margin privileges, and both have IRAs (including SEP IRA and SIMPLE IRA accounts) and custodial accounts available. And neither platform offers traditional banking products, such as savings or checking accounts.
There are two major differences to note. First, if you're looking for a robo-advisor, Interactive Brokers has one with its Interactive Advisors platform. TradeStation doesn't offer a comparable automated investing option.
Second, while neither broker offers savings accounts, it's important to mention that Interactive Brokers pays an APY on uninvested cash that is comparable to what you'd expect from a high-yield savings account. But TradeStation doesn't pay interest on cash balances.
| TradeStation | Interactive Brokers | |
|---|---|---|
| Taxable brokerage | Yes | Yes |
| Joint tenant | Yes | Yes |
| Margin | Yes | Yes |
| Robo-advisor | No | Yes, Interactive Advisors |
| Traditional IRA | Yes | Yes |
| Roth IRA | Yes | Yes |
| Other IRA | Yes, SEP IRA and SIMPLE IRA | Yes, SEP IRA and SIMPLE IRA |
| Custodial | Yes | Yes |
| Checking | No | No |
| Savings | No | No** |
| Credit card | No | No |
TradeStation offers three different platforms. Its TradeStation Web Trading is a browser-based platform that enables investors to simply log in and place trades, check prices, and more. The TradeStation 10 is the desktop trading platform with tons of charting tools, customizable indicators, and much more. And the TradeStation mobile app is designed to enable complex stock, options, and futures trades on the go.
Interactive Brokers offers two mobile and two desktop trading platforms. The IBKR Desktop platform is the newest one, and is designed to make it easy for beginners to buy and sell stocks, while still meeting the needs of experienced investors and traders. There's also the IB Trader Workstation (TWS), which is a high-powered platform for advanced stock, option, and futures traders.
On the mobile side, the IBKR GlobalTrader app is an extremely user-friendly platform for investors of all experience levels, while the IBKR Mobile app is better suited for experienced traders.
The bottom line is that both of these platforms offer quite a bit, and were both designed with active investors in mind. If you're a beginning investor, these are two highly functional platforms that could certainly work, but you might be better off with a platform that was designed with beginners in mind.
If you're an active investor or trader, either of these could be a good fit for you. Both brokers offer a demo, or play money, account mode, so the best course of action could be to test drive both platforms to see which is a better fit for you.
On TradeStation's Secure Website.
A discount broker that's designed for active traders and cost-sensitive investors. You can often spend less than with other platforms.
$0 stock trades
$0
New accounts with qualifying assets earn $50 to $5,000 using code FOOLAFYJ
On TradeStation's Secure Website.
A great low-cost option for small trade volume. While the interface isn't as clean or modern as that of other brokers, it gets the job done. Interactive Brokers is also a great choice for options investors, traders, and those trading on margin.
As low as $0 stock trades
$0
On Interactive Brokers' Secure Website.
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Interactive Brokers disclosure:
The inclusion of Interactive Brokers’ (IBKR) name, logo or weblinks is present pursuant to an advertising arrangement only. IBKR is not a contributor, reviewer, provider or sponsor of content published on this site, and is not responsible for the accuracy of any products or services discussed.
Fidelity disclosure
Investing involves risk, including risk of loss
* - $0.00 commission applies to online U.S. equity trades and exchange-traded funds (ETFs) in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (historically from $0.01 to $0.03 per $1,000 of principal). Other exclusions and conditions may apply. A limited number of ETFs are subject to a transaction-based service fee of $100. See full list at Fidelity.com/commissions. Employee equity compensation transactions and accounts managed by advisors or intermediaries through Fidelity Institutional® are subject to different commission schedules.
**Fidelity Crypto® is offered by Fidelity Digital Assets®. Investing involves risk, including risk of total loss. Crypto as an asset class is highly volatile, can become illiquid at any time, and is for investors with a high risk tolerance. Crypto may also be more susceptible to market manipulation than securities. Crypto is not insured by the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation. Investors in crypto do not benefit from the same regulatory protections applicable to registered securities. Fidelity Crypto® accounts and custody and trading of crypto in such accounts are provided by Fidelity Digital Asset Services, LLC, which is chartered as a limited purpose trust company by the New York State Department of Financial Services to engage in virtual currency business (NMLS ID 1773897). Brokerage services in support of securities trading are provided by Fidelity Brokerage Services LLC (“FBS”), and related custody services are provided by National Financial Services LLC (“NFS”), each a registered broker-dealer and member NYSE and SIPC. Neither FBS nor NFS offer crypto as a direct investment nor provide trading or custody services for such assets. Fidelity Crypto and Fidelity Digital Assets are registered service marks of FMR LLC.
***Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Options. Supporting documentation for any claims, if applicable, will be furnished upon request.
****Zero account minimums and zero account fees apply to retail brokerage accounts only. Expenses charged by investments (e.g., funds, managed accounts, and certain HSAs) and commissions, interest charges, or other expenses for transactions may still apply. See Fidelity.com/commissions for further details.
Robinhood disclosure
All investments involve risk and loss of principal is possible.
Securities are offered through Robinhood Financial LLC, member FINRA/SIPC. Cryptocurrency services are offered through an account with Robinhood Crypto, LLC (NMLS ID 1702840). Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected. For more information see the Robinhood Crypto Risk Disclosure.
Trades of stocks, ETFs and options are commission-free at Robinhood Financial LLC. Other fees may apply. Please see Robinhood Financial’s Fee Schedule to learn more.
Fractional shares are illiquid outside of Robinhood and are not transferable. Not all securities available through Robinhood are eligible for fractional share orders. For a complete explanation of conditions, restrictions and limitations associated with fractional shares, see the Fractional Shares section of our Customer Agreement.
Robinhood Gold is an account offering premium services available for a $5 monthly fee. Not all investors will be eligible to trade on Margin. Margin investing involves the risk of greater investment losses. Additional interest charges may apply depending on the amount of margin used. Bigger Instant Deposits are only available if your Instant Deposits status is in good standing.
Investing is risky. Bonus offers subject to terms and conditions, visit robinhood.com/hoodweek for more information. Margin is not suitable for all investors. Robinhood Gold is offered through Robinhood Gold LLC and is a subscription offering services for a fee. Brokerage services offered through Robinhood Financial LLC (member SIPC), a registered broker dealer.