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Interactive Brokers vs tastytrade 2023

StockBrokers.com

Written by StockBrokers.com

February 23, 2023

Is Interactive Brokers better than tastytrade? After testing 17 of the best online brokers over three months, Interactive Brokers (91.92%) is better than tastytrade (81.30%). Interactive Brokers is a go-to choice for professionals because of its institutional-grade desktop trading platform, high-quality trade executions and rock-bottom margin rates.

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Overall RatingInteractive Brokerstastytrade
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 4/5 Stars
Platforms & Tools 5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 4/5 Stars
Research 5/5 Stars 2/5 Stars
Customer Service 4/5 Stars 4.0/5 Stars
Education 4.5/5 Stars 4.5/5 Stars
Ease Of Use 4/5 Stars 4.5/5 Stars
Winner check_circle
Review Interactive Brokers Review tastytrade Review
Trading FeesInteractive Brokerstastytrade
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) $0.00 N/A
Mutual Fund Trade Fee $14.95 N/A
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.50 info
Futures (Per Contract) $0.85 $1.25
Broker Assisted Trade Fee $30 $0
Margin RatesInteractive Brokerstastytrade
Margin Rate Under $25,000 4.58% 11.00%
Margin Rate $25,000 to $49,999.99 4.58% 10.50%
Margin Rate $50,000 to $99,999.99 4.58% 10.00%
Margin Rate $100,000 to $249,999.99 4.08% 9.50%
Margin Rate $250,000 to $499,999.99 4.08% 9.00%
Margin Rate $500,000 to $999,999.99 4.08% 8.50%
Margin Rate Above $1,000,000 3.83% 8.00%
Account FeesInteractive Brokerstastytrade
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $60.00
Account Transfer Out (Partial) $0.00 $75.00
Account Transfer Out (Full) $0.00 $75.00
Options Exercise Fee $0.00 $5.00
Options Assignment Fee $0.00 $5.00
Investment OptionsInteractive Brokerstastytrade
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares Yes Yes
OTC Stocks Yes No
Options Trading Yes Yes
Complex Options Max Legs 6 4
Futures Trading Yes Yes
Forex Trading No No
Crypto Trading Yes Yes
Crypto Trading - Total Coins 4 25
Mutual Funds (No Load) 10882 0
Mutual Funds (Total) 11160 0
Bonds (US Treasury) Yes No
Bonds (Corporate) Yes No
Bonds (Municipal) Yes No
Advisor Services No No
International Countries (Stocks) 33 0
Order TypesInteractive Brokerstastytrade
Order Type - Market Yes Yes
Order Type - Limit Yes Yes
Order Type - After Hours Yes Yes
Order Type - Stop Yes Yes
Order Type - Trailing Stop Yes No
Order Type - OCO Yes Yes
Order Type - OTO Yes Yes
Order Type - Broker Assisted Yes Yes
BeginnersInteractive Brokerstastytrade
Education (Stocks) Yes Yes
Education (ETFs) Yes Yes
Education (Options) Yes Yes
Education (Mutual Funds) No No
Education (Bonds) Yes No
Education (Retirement) Yes No
Retirement Calculator No No
Investor Dictionary Yes Yes
Paper Trading Yes No
Videos Yes No
Webinars Yes Yes
Webinars (Archived) Yes Yes
Progress Tracking Yes No
Interactive Learning - Quizzes Yes No
Stock Trading AppsInteractive Brokerstastytrade
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes No
Trading - Stocks Yes Yes
Trading - After-Hours Yes Yes
Trading - Simple Options Yes Yes
Trading - Complex Options Yes Yes
Order Ticket RT Quotes Yes Yes
Order Ticket SRT Quotes Yes Yes
Stock App FeaturesInteractive Brokerstastytrade
Market Movers (Top Gainers) Yes Yes
Stream Live TV Yes No
Videos on Demand Yes No
Stock Alerts Yes No
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) Yes Yes
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization Yes Yes
Watch Lists - Total Fields 640 33
Stock App ChartingInteractive Brokerstastytrade
Charting - After-Hours Yes Yes
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes No
Charting - Technical Studies 97 0
Charting - Study Customizations Yes No
Charting - Stock Comparisons No No
Trading PlatformsInteractive Brokerstastytrade
Active Trading Platform Trader Workstation (TWS) tastytrade
Desktop Trading Platform Yes Yes
Desktop Platform (Mac) Yes Yes
Web Trading Platform Yes Yes
Paper Trading Yes No
Trade Journal Yes No
Watch Lists - Total Fields 640 33
Stock Chart FeaturesInteractive Brokerstastytrade
Charting - Adjust Trades on Chart Yes Yes
Charting - Indicators / Studies 121 308
Charting - Drawing Tools 85 19
Charting - Notes Yes Yes
Charting - Index Overlays Yes No
Charting - Historical Trades Yes Yes
Charting - Corporate Events Yes No
Charting - Custom Date Range Yes No
Charting - Custom Time Bars Yes No
Charting - Automated Analysis Yes No
Charting - Save Profiles Yes Yes
Trade Ideas - Technical Analysis Yes No
Charting - Study Customizations 5 7
Charting - Custom Studies No No
Day TradingInteractive Brokerstastytrade
Streaming Time & Sales Yes No
Streaming TV Yes Yes
Direct Market Routing - Stocks Yes No
Ladder Trading Yes No
Trade Hot Keys Yes No
Level 2 Quotes - Stocks Yes No
Trade Ideas - Backtesting Yes No
Trade Ideas - Backtesting Adv Yes No
Short Locator Yes Yes
Order Liquidity Rebates Yes No
Research OverviewInteractive Brokerstastytrade
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes No
Research - Pink Sheets / OTCBB Yes No
Research - Bonds Yes No
Screener - Stocks Yes No
Screener - ETFs Yes No
Screener - Mutual Funds Yes No
Screener - Bonds Yes No
Misc - Portfolio Allocation Yes No
Stock ResearchInteractive Brokerstastytrade
Stock Research - PDF Reports 7 0
Stock Research - Earnings Yes No
Stock Research - Insiders Yes No
Stock Research - Social Yes No
Stock Research - News Yes No
Stock Research - ESG Yes No
Stock Research - SEC Filings Yes No
ETF ResearchInteractive Brokerstastytrade
ETFs - Strategy Overview Yes No
ETF Fund Facts - Inception Date Yes No
ETF Fund Facts - Expense Ratio Yes No
ETF Fund Facts - Net Assets Yes No
ETF Fund Facts - Total Holdings Yes No
ETFs - Top 10 Holdings Yes No
ETFs - Sector Exposure Yes No
ETFs - Risk Analysis Yes Yes
ETFs - Ratings Yes No
ETFs - Morningstar StyleMap Yes No
ETFs - PDF Reports Yes No
Mutual Fund ResearchInteractive Brokerstastytrade
Mutual Funds - Strategy Overview Yes No
Mutual Funds - Performance Chart Yes No info
Mutual Funds - Performance Analysis Yes No
Mutual Funds - Prospectus Yes No
Mutual Funds - 3rd Party Ratings Yes No
Mutual Funds - Fees Breakdown Yes No
Mutual Funds - Top 10 Holdings Yes No
Mutual Funds - Asset Allocation Yes No
Mutual Funds - Sector Allocation Yes No
Mutual Funds - Country Allocation Yes No
Mutual Funds - StyleMap Yes No
Options TradingInteractive Brokerstastytrade
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes No
Option Chains - Streaming Yes Yes
Option Chains - Total Columns 44 7
Option Chains - Greeks 12 5
Option Chains - Quick Analysis Yes Yes
Option Analysis - P&L Charts Yes Yes
Option Probability Analysis Yes Yes
Option Probability Analysis Adv Yes Yes
Option Positions - Greeks Yes Yes
Option Positions - Greeks Streaming Yes Yes
Option Positions - Adv Analysis Yes Yes
Option Positions - Rolling Yes Yes
Option Positions - Grouping Yes Yes
BankingInteractive Brokerstastytrade
Bank (Member FDIC) No No
Checking Accounts No No
Savings Accounts No No
Credit Cards No No
Debit Cards Yes No
Mortgage Loans No No
Customer ServiceInteractive Brokerstastytrade
Phone Support (Prospect Customers) Yes Yes
Phone Support (Current Customers) Yes Yes
Email Support Yes Yes
Live Chat (Prospect Customers) No Yes
Live Chat (Current Customers) Yes Yes
24/7 Support No No
OverallInteractive Brokerstastytrade
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 4/5 Stars
Platforms & Tools 5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 4/5 Stars
Research 5/5 Stars 2/5 Stars
Education 4.5/5 Stars 4.5/5 Stars
Ease Of Use 4/5 Stars 4.5/5 Stars
Winner check_circle
Review Interactive Brokers Review tastytrade Review
  • check_box_outline_blankcheck_boxAlly Invest
  • check_box_outline_blankcheck_boxCharles Schwab
  • check_box_outline_blankcheck_boxE*TRADE
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxFidelity
  • check_box_outline_blankcheck_boxFirstrade
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxJ.P. Morgan Self-Directed Investing
  • check_box_outline_blankcheck_boxMerrill Edge
  • check_box_outline_blankcheck_boxRobinhood
  • check_box_outline_blankcheck_boxSofi Invest
  • check_box_outline_blankcheck_boxtastytrade
  • check_box_outline_blankcheck_boxTD Ameritrade
  • check_box_outline_blankcheck_boxTradeStation
  • check_box_outline_blankcheck_boxTradier
  • check_box_outline_blankcheck_boxVanguard
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Interactive Brokers vs tastytrade Comparison

Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare Interactive Brokers vs tastytrade.

Is Interactive Brokers or tastytrade better for beginners?

Interactive Brokers offers more comprehensive new investor education for beginner investors than tastytrade. Interactive Brokers offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Bonds) and Education (Retirement), while tastytrade offers investors access to Education (Stocks), Education (ETFs) and Education (Options). Neither have Education (Mutual Funds).

What about Interactive Brokers vs tastytrade pricing?

Interactive Brokers and tastytrade charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Interactive Brokers, costing $0.65 per contract versus $0.50 per contract at tastytrade. For a complete commissions summary, see our best brokers for free stock trading guide.

Does Interactive Brokers or tastytrade offer a wider range of investment options?

Interactive Brokers offers investors access to Stock Trading, Fractional Shares, Options Trading, OTC Stocks, Mutual Funds and Futures Trading, while tastytrade offers investors access to Stock Trading, Fractional Shares, Options Trading and Futures Trading. Neither have Forex Trading and Advisor Services. Looking at Mutual Funds, tastytrade trails Interactive Brokers in its offering of no transaction fee (NTF) mutual funds, with Interactive Brokers offering 4329 and tastytrade offering 0.

Which trading platform is better: Interactive Brokers or tastytrade?

To compare the trading platforms of Interactive Brokers and tastytrade, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Interactive Brokers offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers to provide better mobile trading apps.

Does either broker offer banking?

Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Debit Cards are offered by Interactive Brokers while tastytrade offers none. Neither have Checking Accounts, Savings Accounts, Credit Cards and Mortgage Loans.

Is Interactive Brokers good?

Interactive Brokers is a go-to choice for professionals because of its institutional-grade desktop trading platform, high-quality trade executions and rock-bottom margin rates.

Is tastytrade good?

Tastytrade isn’t for every investor, but its platform is ideal for frequent options and futures traders, offering efficient workflow, useful risk management tools, killer design, and online content that make you feel like you’re on a trading desk.

Interactive Brokers vs tastytrade Winner

Overall winner: Interactive Brokers

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tastytrade, Inc. (“tastytrade”) has entered into a Marketing Agreement with Marketing Agent (“Marketing Agent”) whereby tastytrade pays compensation to Marketing Agent to recommend tastytrade’s brokerage services. The existence of this Marketing Agreement should not be deemed as an endorsement or recommendation of Marketing Agent by tastytrade and/or any of its affiliated companies. Neither tastytrade nor any of its affiliated companies is responsible for the privacy practices of Marketing Agent or this website. tastytrade does not warrant the accuracy or content of the products or services offered by Marketing Agent or this website. Marketing Agent is independent and is not an affiliate of tastytrade. tastytrade was previously known as tastyworks, Inc.

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