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Interactive Brokers vs tastytrade 2023

StockBrokers.com

Written by StockBrokers.com

August 29, 2023

Is Interactive Brokers better than tastytrade? After testing 17 of the best online brokers over three months, our analysis finds that Interactive Brokers (90.70%) is better than tastytrade (81.17%). 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.

Select Brokers

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  • 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
  • check_box_outline_blankcheck_boxWebull

Compare

0 of 5
Overall Rating Interactive Brokers tastytrade
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 1.5/5 Stars
Customer Service 4/5 Stars 4.0/5 Stars
Education 4.5/5 Stars 4/5 Stars
Ease Of Use 4/5 Stars 4.5/5 Stars
Winner check_circle
Review Interactive Brokers Review tastytrade Review
Broker Screenshots Interactive Brokers tastytrade
Trading Platform & Tools Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Trading Fees Interactive Brokers tastytrade
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) info $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 Rates Interactive Brokers tastytrade
Margin Rate Under $25,000 7.83% info 11.00%
Margin Rate $25,000 to $49,999.99 7.83% info 10.50%
Margin Rate $50,000 to $99,999.99 7.83% info 10.00%
Margin Rate $100,000 to $249,999.99 7.83% info 9.50%
Margin Rate $250,000 to $499,999.99 7.83% info 9.00%
Margin Rate $500,000 to $999,999.99 7.83% info 8.50%
Margin Rate Above $1,000,000 7.83% info 8.00%
Account Fees Interactive Brokers tastytrade
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $60.00
Account Transfer Out (Partial) info $0.00 $75.00
Account Transfer Out (Full) info $0.00 $75.00
Options Exercise Fee $0.00 $5.00
Options Assignment Fee $0.00 $5.00
Investment Options Interactive Brokers tastytrade
Stock Trading info Yes Yes
Margin Trading Yes Yes
Fractional Shares info Yes Yes
OTC Stocks info Yes No
Options Trading info Yes Yes
Complex Options Max Legs info 6 4
Futures Trading info Yes Yes
Forex Trading info No No
Crypto Trading info Yes Yes
Crypto Trading - Total Coins info 4 25
Mutual Funds (No Load) info 10882 0
Mutual Funds (Total) info 11160 0
Bonds (US Treasury) info Yes No
Bonds (Corporate) info Yes No
Bonds (Municipal) info Yes No
Advisor Services info No No
International Countries (Stocks) info 33 0
Order Types Interactive Brokers tastytrade
Order Type - Market info Yes Yes
Order Type - Limit info Yes Yes
Order Type - After Hours info Yes Yes
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info Yes No
Order Type - OCO info Yes Yes
Order Type - OTO info Yes Yes
Order Type - Broker Assisted info Yes Yes
Beginners Interactive Brokers tastytrade
Education (Stocks) info Yes Yes
Education (ETFs) info Yes Yes
Education (Options) info Yes Yes
Education (Mutual Funds) info No No
Education (Bonds) info Yes No
Education (Retirement) info Yes No
Retirement Calculator info No No
Investor Dictionary info Yes Yes
Paper Trading info Yes No
Videos info Yes No
Webinars info Yes Yes
Webinars (Archived) info Yes Yes
Progress Tracking info Yes No
Interactive Learning - Quizzes info Yes No
Stock Trading Apps Interactive Brokers tastytrade
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info Yes No
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes Yes
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes Yes
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info Yes Yes
Stock App Features Interactive Brokers tastytrade
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info Yes No
Videos on Demand info Yes No
Stock Alerts info Yes No
Option Chains Viewable info Yes Yes
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info Yes Yes
Watch Lists - Create & Manage info Yes Yes
Watch Lists - Column Customization info Yes Yes
Watch Lists - Total Fields info 640 33
Stock App Charting Interactive Brokers tastytrade
Charting - After-Hours info Yes Yes
Charting - Can Turn Horizontally info Yes Yes
Charting - Multiple Time Frames info Yes No
Charting - Technical Studies info 97 0
Charting - Study Customizations info Yes No
Charting - Stock Comparisons info No No
Trading Platforms Interactive Brokers tastytrade
Active Trading Platform info Trader Workstation (TWS) tastytrade
Desktop Trading Platform info Yes Yes
Desktop Platform (Mac) info Yes Yes
Web Trading Platform info Yes Yes
Paper Trading info Yes No
Trade Journal info Yes No
Watch Lists - Total Fields info 640 33
Stock Chart Features Interactive Brokers tastytrade
Charting - Adjust Trades on Chart info Yes Yes
Charting - Indicators / Studies info 121 308
Charting - Drawing Tools info 85 19
Charting - Notes info Yes Yes
Charting - Index Overlays info Yes No
Charting - Historical Trades info Yes Yes
Charting - Corporate Events info Yes No
Charting - Custom Date Range info Yes No
Charting - Custom Time Bars info Yes No
Charting - Automated Analysis info Yes No
Charting - Save Profiles info Yes Yes
Trade Ideas - Technical Analysis info Yes No
Charting - Study Customizations info 5 7
Charting - Custom Studies info No No
Day Trading Interactive Brokers tastytrade
Streaming Time & Sales info Yes No
Streaming TV info Yes Yes
Direct Market Routing - Stocks info Yes No
Ladder Trading info Yes No
Trade Hot Keys info Yes No
Level 2 Quotes - Stocks info Yes No
Trade Ideas - Backtesting info Yes No
Trade Ideas - Backtesting Adv info Yes No
Short Locator info Yes Yes
Order Liquidity Rebates info Yes No
Research Overview Interactive Brokers tastytrade
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes No
Research - Pink Sheets / OTCBB info Yes No
Research - Bonds info Yes No
Screener - Stocks info Yes No
Screener - ETFs info Yes No
Screener - Mutual Funds info Yes No
Screener - Bonds info Yes No
Misc - Portfolio Allocation info Yes No
Stock Research Interactive Brokers tastytrade
Stock Research - PDF Reports info 7 0
Stock Research - Earnings info Yes No
Stock Research - Insiders info Yes No
Stock Research - Social info Yes No
Stock Research - News info Yes No
Stock Research - ESG info Yes No
Stock Research - SEC Filings info Yes No
ETF Research Interactive Brokers tastytrade
ETFs - Strategy Overview info Yes No
ETF Fund Facts - Inception Date info Yes No
ETF Fund Facts - Expense Ratio info Yes No
ETF Fund Facts - Net Assets info Yes No
ETF Fund Facts - Total Holdings info Yes No
ETFs - Top 10 Holdings info Yes No
ETFs - Sector Exposure info Yes No
ETFs - Risk Analysis info Yes Yes
ETFs - Ratings info Yes No
ETFs - Morningstar StyleMap info Yes No
ETFs - PDF Reports info Yes No
Mutual Fund Research Interactive Brokers tastytrade
Mutual Funds - Strategy Overview info Yes No
Mutual Funds - Performance Chart info Yes No
Mutual Funds - Performance Analysis info Yes No
Mutual Funds - Prospectus info Yes No
Mutual Funds - 3rd Party Ratings info Yes No
Mutual Funds - Fees Breakdown info Yes No
Mutual Funds - Top 10 Holdings info Yes No
Mutual Funds - Asset Allocation info Yes No
Mutual Funds - Sector Allocation info Yes No
Mutual Funds - Country Allocation info Yes No
Mutual Funds - StyleMap info Yes No
Options Trading Interactive Brokers tastytrade
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes No
Option Chains - Streaming info Yes Yes
Option Chains - Total Columns info 44 7
Option Chains - Greeks info 12 5
Option Chains - Quick Analysis info Yes Yes
Option Analysis - P&L Charts info Yes Yes
Option Probability Analysis info Yes Yes
Option Probability Analysis Adv info Yes Yes
Option Positions - Greeks info Yes Yes
Option Positions - Greeks Streaming info Yes Yes
Option Positions - Adv Analysis info Yes Yes
Option Positions - Rolling info Yes Yes
Option Positions - Grouping info Yes Yes
Banking Interactive Brokers tastytrade
Bank (Member FDIC) info No No
Checking Accounts info No No
Savings Accounts info No No
Credit Cards info No No
Debit Cards info Yes No
Mortgage Loans info No No
Customer Service Interactive Brokers tastytrade
Phone Support (Prospect Customers) info Yes Yes
Phone Support (Current Customers) info Yes Yes
Email Support info Yes Yes
Live Chat (Prospect Customers) info No Yes
Live Chat (Current Customers) info Yes Yes
24/7 Support info No No
Overall Interactive Brokers tastytrade
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 1.5/5 Stars
Education 4.5/5 Stars 4/5 Stars
Ease Of Use 4/5 Stars 4.5/5 Stars
Winner check_circle
Review Interactive Brokers Review tastytrade Review
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Interactive Brokers vs tastytrade Comparison

Comparing brokers side by side is no easy task. We spend hundreds of hours each year testing the platforms, mobile apps, trading tools and general ease of use among online brokerages, as well as comparing commissions and fees, to find the best online broker.

Though many U.S. brokers offer basic trading features, such as an app, charting tools, stock research and educational content, the depth of those features can vary widely. Let's compare Interactive Brokers vs tastytrade.

Is Interactive Brokers or tastytrade better for beginners?

In stock trading, the more you know, the better you’ll do. Taking advantage of resources like articles, webinars, videos and interactive elements is a great way to shorten the learning curve. In our analysis, we examine the availability of several different types of educational materials.

For 2023, our review finds that Interactive Brokers offers more comprehensive new investor education for beginning 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 futures, tastytrade charges $1.25 per contract and Interactive Brokers charges $0.85 per contract. For a deeper dive, see our best brokers for free stock trading guide.

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

Looking at a full range of investment options, including order types and international trading, our research has found that Interactive Brokers offers a more comprehensive offering than tastytrade. Interactive Brokers ranks #1 out of 17 brokers for our Investment Options category, while tastytrade ranks #12.

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.

Do Interactive Brokers and tastytrade offer cryptocurrency?

In our analysis of top U.S. brokerages, we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum. Though crypto has risen steadily in popularity, availability still varies from broker to broker. Our review finds that both Interactive Brokers and tastytrade offer crypto trading.

Which trading platform is better: Interactive Brokers or tastytrade?

To compare the day trading platforms of Interactive Brokers and tastytrade, we focused on trading tools and functionality across both web and desktop-based platforms. Popular day trading platform tools include streaming real-time quotes, stock alerts, trading hotkeys, direct market routing, streaming time and sales, customizable watch lists, backtesting, and fully functional charting packages, among many others. For day trading, Interactive Brokers offers a better experience.

Does Interactive Brokers or tastytrade offer a better stock trading app?

After testing 25 features across the stock trading apps of Interactive Brokers and tastytrade, we found Interactive Brokers to be better overall. The best stock market apps are easy to use, have excellent design, and deliver a fully featured online trading experience. Interactive Brokers ranks #2 out of 17 brokers, while tastytrade ranks #11.

Interactive Brokers Trading App Gallery

tastytrade Trading App Gallery

Which broker is better for researching stocks?

For research, Interactive Brokers offers superior market research than tastytrade. Interactive Brokers ranks #3 and tastytrade ranks #17.

Over the years, we've found that the best brokers provide rich market commentary, a variety of third-party research reports, and thorough quote screens that are not just easy to navigate, but that also include a comprehensive selection of fundamental data. Robust stock, ETFs, and mutual fund screeners are also must-haves for trade idea generation.

How do Interactive Brokers and tastytrade compare in terms of minimum deposit required?

Interactive Brokers requires a minimum deposit of $0.00, while tastytrade requires a minimum deposit of $0.00. From our testing, we found that SoFi is the only broker that requires a minimum deposit.

Which broker offers better margin rates for accounts under $25,000?

Interactive Brokers charges 7.83% for accounts under $25,000 while tastytrade charges a margin rate of 11.00%. The industry average of the 17 brokers we track is 11%.

Does Interactive Brokers offer fractional shares? Does tastytrade?

Interactive Brokers and tastytrade allow traders to trade fractional shares. Our research has found that 41% of brokers offer fractional shares investing. Fractional shares allow traders to buy a part of a whole share of stock. For example, if Amazon is trading at $1,000, you could buy half a share for $500.

Can you trade penny stocks with Interactive Brokers or tastytrade?

Neither Interactive Brokers nor tastytrade allow you to trade penny stocks. Penny stocks are companies whose shares trade for under $5 and are listed over the counter (OTC). For brokers that do offer penny stock trades, the average commission is $3.

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.

Which broker offers stronger customer service?

StockBrokers.com partners with customer experience research group Confero to conduct phone tests from locations across the United States to thoroughly evaluate the quality and speed of brokerage customer service. (Read more about How We Test.) Here are the results of our current testing.

Interactive Brokers was rated 8th out of 14 brokers, with an overall score of 7.7 out of 10.

Tastytrade was rated 9th out of 14 brokers, with an overall score of 7.6 out of 10.

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.

In the 2023 StockBrokers.com Annual Review, Interactive Brokers was rated No. 1 for Investment Options, Active Trading and Futures Trading. It also ranked among Best in Class for Commissions & Fees, Research, Platforms & Tools, Mobile Trading Apps, Investment Options, and Options Trading. Interactive Brokers also won five StockBrokers.com Industry Awards: No. 1 for ESG Investing, International Trading, Platform Technology, Professional Trading, and Sentiment Investing.

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.

In the 2023 StockBrokers.com Annual Review, tastytrade ranked among Best in Class for Active Trading, Futures Trading, Investor Community, and Options Trading. Tastytrade also won one StockBrokers.com Industry Award: No. 1 Desktop Trading Platform.

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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