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Interactive Brokers vs Cobra Trading 2019

Is Cobra Trading better than Interactive Brokers? After scoring brokers on over 4,000 data points for our 2019 review, Interactive Brokers (80.99%) is better than Cobra Trading (49.66%).

Interactive Brokers

Best For Professionals - Open Account
Exclusive Offer: New clients that open an account today receive a special margin rate

While Interactive Brokers does offer a $0 trading account type (IBKR Lite), the broker is best known for its professional traders accounts (IBKR Pro), where Interactive Brokers offers per-share pricing ($.005 per share with a $1 minimum per trade), and charges up to $20 per month between two minimum activity fees. Traders who can meet its $100,000 minimum deposit for margin trading are rewarded with an industry-leading commissions schedule, margin rates, and full support for international trading.Read full review.

Cobra Trading

DasTrader Pro Broker - Open Account
Special Offer: Get a 50% comm. discount for 60 days.

Cobra Trading was founded in 2003 by Chadd Hessing as a direct-access, low-cost online brokerage for professional stock traders. While Cobra Trading offers multiple trading platforms and personalized service, trading costs are more expensive than leader Interactive Brokers. Read full review

Overall Rating

Feature Interactive Brokers Cobra Trading
Overall 4 2.5
Interactive Brokers Review Cobra Trading Review

Trading Fees

Feature Interactive Brokers Cobra Trading
Minimum Deposit $0.00 $30,000.00
Stock Trade Fee (per trade) N/A N/A
ETF Trade Fee $0.01 N/A
Options Base Fee $0.00 N/A
Options Per Contract Fee $0.70 $0.50
Mutual Fund Trade Fee $14.95 $25.00
Broker Assisted Trades Fee $30.00 $0.00
Commissions & Fees 4.5 3
Winner check_circle

Margin Rates

Feature Interactive Brokers
Open Account
Cobra Trading
Open Account
Under $24,999.99 3.68% 5.25%
$25,000.00 to $49,999.99 3.68% 5.25%
$50,000.00 to $99,999.99 3.68% 5.25%
$100,000.00 to $249,999.99 3.18% 5.25%
$250,000.00 to $499,999.99 3.18% 5.25%
$500,000.00 to $999,999.99 3.18% 5.25%
Above $1,000,000.00 2.68% 5.25%
Commissions & Fees 4.5 3
Winner check_circle

Account Fees

Feature Interactive Brokers Cobra Trading
IRA Annual Fee $0.00 $35.00
IRA Closure Fee $0.00 $95.00
Returned ACH Fee N/A $25.00
Returned Wire Fee N/A $25.00
Stock Certificate Processing Fee N/A N/A
Stock Certificate Delivery Fee N/A N/A
Paper Statement Fee N/A $2.00
Paper Confirmation Fee N/A $3.00
Domestic Wire Fee $10.00 $20.00
International Wire Fee $10.00 $50.00
Commissions & Fees 4.5 3

Investment Options

Feature Interactive Brokers Cobra Trading
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
Yes Yes
Forex Trading
No Yes
Commission-Free ETFs 48 0
Mutual Funds (No Load)
7558 0
Mutual Funds (Total)
11000 0
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Advisor Services
No No
International Trading
Yes No
Offering of Investments 5 3
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Order Types

Feature Interactive Brokers Cobra Trading
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes No
Order Type - MultiContingent
Yes No
Order Type - OCO
Yes Yes
Order Type - OTO
Yes No
Order Type - OTOCO
Yes No
Offering of Investments 5 3
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Trading Platforms

Feature Interactive Brokers Cobra Trading
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
Yes No
Web Platform
Yes Yes
Paper Trading
Yes Yes
Trade Journal
Yes No
Watch Lists - Total Fields
453 30
Two-Factor Authentication Login
Yes No
Heat Mapping
Yes No
Platforms & Tools 4.5 3
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Charting Features

Feature Interactive Brokers Cobra Trading
Charting - Trade Off Chart
Yes Yes
Charting - Indicators / Studies
121 36
Charting - Drawing Tools
9 9
Charting - Historical Trades
Yes No
Charting - Corporate Events
Yes No
Charting - Automated Analysis
No No
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
6 8
Charting - Custom Studies
No No
Platforms & Tools 4.5 3
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Day Trading

Feature Interactive Brokers Cobra Trading
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
No Yes
Streaming Time & Sales
Yes Yes
Streaming TV
Yes No
Direct Market Routing - Stocks
Yes Yes
Direct Market Routing - Options
Yes Yes
Ladder Trading
Yes Yes
Trade Hot Keys
Yes Yes
Level 2 Quotes - Stocks
Yes Yes
Level 2 Quotes - Options
Yes Yes
Trade Ideas - Backtesting
Yes No
Short Locator
Yes Yes
Order Liquidity Rebates
Yes Yes
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Mobile Trading Apps

Feature Interactive Brokers Cobra Trading
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
Yes No
Trading - Mutual Funds
Yes No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes No
Trading - Option Rolling
No No
Touch / Face ID
Yes No
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Mobile App Features

Feature Interactive Brokers Cobra Trading
Watch List Syncing
Yes No
Stock Alerts - Basic Fields
Yes No
Charting - After Hours
Yes Yes
Charting - Drawing
No No
Charting - Study Customizations
Yes No
Customizable Homescreen
No No
Heatmapping
No No
Stream Live TV
Yes No
Barcode Lookup
No No
Mobile Trading 4.5 3
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Research Overview

Feature Interactive Brokers Cobra Trading
Research - Stocks
Yes Yes
Research - ETFs
Yes No
Research - Mutual Funds
No No
Research - Pink Sheets / OTCBB
Yes No
Research - Fixed Income
Yes No
Screener - Stocks
Yes No
Screener - ETFs
Yes No
Screener - Mutual Funds
No No
Screener - Options
Yes No
Screener - Bonds
Yes No
Misc - Portfolio Builder
Yes No
Misc - Portfolio Allocation
Yes No
Research 3.5 1
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Stock Research

Feature Interactive Brokers Cobra Trading
Stock Research - Reports
1 0
Stock Research - Earnings
Yes No
Stock Research - Insiders
Yes No
Stock Research - Metric Comp
Yes No
Stock Research - SEC Filings
Yes No
Stock Research - Social
Yes No
Stock Research - Balance Sheet
Yes No
Stock Research - Cash Flows
Yes No
Stock Research - News
Yes Yes
Stock Research - ESG
Yes No
Research 3.5 1
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ETF Research

Feature Interactive Brokers Cobra Trading
ETFs - Strategy Overview
Yes No
ETFs - Top 10 Holdings
Yes No
ETFs - Sector Exposure
Yes No
ETFs - Risk Analysis
Yes No
ETFs - Performance Analysis
Yes No
ETFs - Ratings
Yes No
ETFs - Morningstar StyleMap
No No
ETFs - Reports
Yes No
Research 3.5 1
Winner check_circle

Mutual Fund Research

Feature Interactive Brokers Cobra Trading
Mutual Funds - Strategy Overview
No No
Mutual Funds - Prospectus
Yes No
Mutual Funds - Reports
Yes No
Mutual Funds - Fees Breakdown
Yes No
Mutual Funds - Top 10 Holdings
No No
Mutual Funds - Asset Allocation
No No
Mutual Funds - Sector Allocation
No No
Mutual Funds - Country Allocation
No No
Mutual Funds - StyleMap
No No
Mutual Funds - 3rd Party Ratings
No No
Research 3.5 1
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Options Trading

Feature Interactive Brokers Cobra Trading
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
37 17
Option Chains - Greeks
4 0
Option Chains - Quick Analysis
Yes No
Option Analysis - P&L Charts
Yes No
Option Probability Analysis
Yes No
Option Probability Analysis Adv
Yes No
Option Positions - Greeks
Yes No
Option Positions - Adv Analysis
Yes No
Option Positions - Rolling
Yes No
Option Positions - Grouping
Yes No
Platforms & Tools 4.5 3
Winner check_circle

Beginners

Feature Interactive Brokers Cobra Trading
Has Education - Stocks
Yes No
Has Education - ETFs
No No
Has Education - Options
Yes No
Has Education - Mutual Funds
No No
Has Education - Fixed Income
No No
Has Education - Retirement
No No
Paper Trading
Yes Yes
Videos
Yes No
Webinars (Monthly Avg)
20 0
Webinars (Archived)
Yes No
Live Seminars
No No
Progress Tracking
Yes No
Interactive Learning - Quizzes
Yes No
Investor Magazine
Yes No
Education 3 0.5
Winner check_circle

Banking

Feature Interactive Brokers Cobra Trading
Retail Locations
0 0
Member FDIC
No No
Checking Accounts
Yes No
Savings Accounts
No No
Credit Cards
No No
Debit Cards
Yes No
Mortgage Loans
No No
No Fee Banking
No No
Banking 2 0.5
Winner check_circle

Overall

Feature Interactive Brokers Cobra Trading
Interactive Brokers Review Cobra Trading Review
Overall 4 2.5
Winner check_circle

Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker. Yielding a database of over 4,000 data points, let's compare Cobra Trading vs Interactive Brokers.

To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Cobra Trading and Interactive Brokers charge the same amount for regular stock trades, $0. With options, the base fee is $N/A for both Cobra Trading and Interactive Brokers. Each option contract then costs $0.70 at Interactive Brokers and $0.50 at Cobra Trading. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.

Next to commission rates, being able to trade what you want is important. Interactive Brokers supports Stock Trading, Options Trading, Mutual Funds and Futures Trading while Cobra Trading supports Stock Trading, Options Trading, Forex Trading and Futures Trading. Looking at mutual funds, Cobra Trading trails Interactive Brokers by 11,000 total mutual funds, with Interactive Brokers offering 11000 and Cobra Trading offering 0.

Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Cobra Trading alongside Interactive Brokers offer virtual trading. Taking a look at mobile trading, Cobra Trading offer clients access to an iPhone App and Android App while Interactive Brokers has an iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Checking Accounts and Debit Cards are available to clients of Interactive Brokers while Cobra Trading offers customers none of these.

Overall, between Cobra Trading and Interactive Brokers, Interactive Brokers is the winner.

Cobra Trading Review
Interactive Brokers Review



All pricing data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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