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 Interactive Brokers vs SpeedTrader.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. SpeedTrader charges more than Interactive Brokers for placing regular stock trades ($4.49 and $0 (the broker charges a per share rate instead), respectively). With options, the base fee is $0 for both Interactive Brokers and SpeedTrader. Each option contract then costs $0.70 at Interactive Brokers and $0 at SpeedTrader. 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. SpeedTrader supports Stock Trading and Options Trading while Interactive Brokers supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, Interactive Brokers boasts an offering of 11000 mutual funds compared to SpeedTrader's 0 available funds.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Both Interactive Brokers and SpeedTrader offer virtual trading. Taking a look at mobile trading, SpeedTrader offers the iPhone App and Android App while Interactive Brokers offers the 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. Clients can have Checking Accounts and Debit Cards at Interactive Brokers while customers at SpeedTrader can have none of these. On the whole, when it comes to tools, research, and mobile trading, both Interactive Brokers and SpeedTrader received Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading awards.
Overall, between Interactive Brokers and SpeedTrader, Interactive Brokers is the winner
Interactive Brokers Review