If you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience.
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.
| Offer |
|
|
|---|---|---|
| Rating |
Rating 
4.50/5
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 |
Rating
5.00/5
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 2026.
| Broker | Best For | Commissions | Learn More |
|---|---|---|---|
5.00/5
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. |
4.90/5
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-cost investing with a full-featured platform | $0 stock, ETF, and Schwab Mutual Fund OneSource® trades. No fees to buy fractional shares. |
Learn More for Charles Schwab
On Charles Schwab's Secure Website. |
4.80/5
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 on trades of stocks, ETFs and their options. Other fees may apply. |
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
Motley Fool Stock Disclosures
Matt Frankel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Interactive Brokers Group. The Motley Fool recommends the following options: long January 2027 $43.75 calls on Interactive Brokers Group and short January 2027 $46.25 calls on Interactive Brokers Group. The Motley Fool has a disclosure policy.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
Margin borrowing increases your level of market risk, as a result it has the potential to magnify both your gains and losses. Before using margin, customers must determine whether this type of strategy is right for them given their investment objectives and risk tolerance. Regardless of the underlying value of the securities you purchased, you must repay your margin loan. Robinhood Financial can change its maintenance margin requirements at any time without prior notice. If the equity in your account falls below the minimum maintenance requirements (varies according to the security), you’ll have to deposit additional cash or acceptable collateral. If you fail to meet your minimums, Robinhood Financial may be forced to sell some or all of your securities, with or without your prior approval. For more information please see Robinhood Financial’s Margin Disclosure Statement, Margin Agreement and FINRA Investor Information.
Margin trading involves risk and may not be suitable for all investors. Borrowing on margin increases your level of market risk and can amplify both gains and losses.
Robinhood Financial may change maintenance margin requirements at any time without prior notice. If the equity in your account falls below minimum maintenance requirements, you may need to deposit additional cash or collateral. If those requirements are not met, Robinhood Financial may sell securities in your account without prior approval.
The 3% matching on annual contributions requires a subscription with Robinhood Gold ($5/mo) and customers must stay subscribed to Gold for 1 year from the date of the first eligible deposit to keep the full Gold match. The funds that earned the match must be kept in the account for at least 5 years to avoid a potential Early IRA Match Removal Fee. Match rate subject to change. Non-Gold customers receive a 1% match. Offer only applies to self-directed IRAs. For more information refer to the IRA Match FAQ.
You must have compensation (wage income) in order to contribute to an IRA. Funds being contributed into or distributed from retirement accounts may entail tax consequences. Contributions are limited and withdrawals before age 59 1/2 may be subject to a penalty tax. Robinhood does not provide tax advice; please consult with a tax adviser if you have questions.
The Robinhood IRA is available to any U.S. customer with a Robinhood brokerage account in good standing.
The 3% matching on annual contributions requires a subscription with Robinhood Gold ($5/mo) and customers must stay subscribed to Gold for 1 year from the date of the first eligible deposit to keep the full Gold match. The funds that earned the match must be kept in the account for at least 5 years to avoid a potential Early IRA Match Removal Fee. Match rate subject to change. Non-Gold customers receive a 1% match. Offer only applies to self-directed IRAs. For more information refer to the IRA Match FAQ.
You must have compensation (wage income) in order to contribute to an IRA. Funds being contributed into or distributed from retirement accounts may entail tax consequences. Contributions are limited and withdrawals before age 59 1/2 may be subject to a penalty tax. Robinhood does not provide tax advice; please consult with a tax adviser if you have questions.
The Robinhood IRA is available to any U.S. customer with a Robinhood brokerage account in good standing.
Robinhood Strategies charges an annual management fee of 0.25% on the net portfolio value of each managed account. Eligible Robinhood Gold subscribers pay no management fees on the portion of their managed account net portfolio value that exceeds $100,000, thereby limiting the annual management fee to $250. Other fees apply.
All investments involve risk and loss of principal is possible.
Brokerage services are offered through Robinhood Financial LLC, ("RHF") a registered broker dealer (member SIPC) and clearing services through Robinhood Securities, LLC, ("RHS") a registered broker dealer (member SIPC).
RHF and RHS are not banks. All are separate but affiliated entities. Securities offered by RHF are not FDIC insured and involve risk, including possible loss of principal.
Robinhood Gold is a subscription-based membership program of premium services offered through Robinhood Gold, LLC.
Portfolio management of managed accounts by Robinhood Asset Management, LLC (“Robinhood Strategies”), an SEC-registered investment advisor.
Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options before trading options.
Cryptocurrency trading is offered through Robinhood Crypto, LLC (NMLS ID 1702840). Trading and holding digital assets involves significant risk, including the risk of substantial loss. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected.
*Trading and owning digital assets involves significant risk, including the risk of substantial loss. Cryptocurrency trading is 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.
** Network fees may apply. Availability may be subject to regulatory approval in certain states.
