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Is Interactive Brokers better than E*TRADE? After scoring brokers in nine separate categories for our 2019 review, E*TRADE (83.68%) is better than Interactive Brokers (80.99%). While E*TRADE may not offer the cheapest trades, the Power E*TRADE platform is great for options trading, and the broker offers two great mobile apps.
Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare E*TRADE vs Interactive Brokers to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. E*TRADE charges $6.95 per stock trade which is $6.95 more than Interactive Brokers which charges customers $0 (the broker charges a per share rate instead) per trade. With options, the base fees charged are $6.95 (E*TRADE) and $0 (Interactive Brokers). Interactive Brokers's per contract rate of $0.70 is less than E*TRADE which charges $0.75. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews.
Next, investors want to make sure they can trade the investment vehicle they want. E*TRADE and Interactive Brokers provide clients with Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Interactive Brokers boasts an offering of 11000 mutual funds compared to E*TRADE's 9062 available funds.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Interactive Brokers offers virtual trading while E*TRADE does not. For mobile trading, E*TRADE along with Interactive Brokers both support the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Clients can have Checking Accounts and Debit Cards at Interactive Brokers while customers at E*TRADE can have Checking Accounts, Savings Accounts and Debit Cards.
Overall, between E*TRADE and Interactive Brokers, E*TRADE is the winner.
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. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. 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.