Interactive Brokers vs TradeStation 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 TradeStation.
Is Interactive Brokers or TradeStation better for beginners?
Interactive Brokers offers more comprehensive new investor education for beginner investors than TradeStation. Interactive Brokers offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Bonds) and Education (Retirement), while TradeStation offers investors access to Paper Trading, Videos, Education (Stocks) and Education (Options). Neither have Education (Mutual Funds).
What about Interactive Brokers vs TradeStation pricing?
Interactive Brokers and TradeStation charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Interactive Brokers, costing $0.65 per contract versus $0.60 per contract at TradeStation. For a complete commissions summary, see our best brokers for free stock trading guide.
Does Interactive Brokers or TradeStation 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 TradeStation offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds and Futures Trading. Neither have Forex Trading and Advisor Services. Looking at Mutual Funds, TradeStation trails Interactive Brokers in its offering of no transaction fee (NTF) mutual funds, with Interactive Brokers offering 4329 and TradeStation offering 0.
Which trading platform is better: Interactive Brokers or TradeStation?
To compare the trading platforms of Interactive Brokers and TradeStation, 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 TradeStation 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 TradeStation good?
TradeStation supports casual traders through its web-based platform and active traders through its desktop platform. We like the web-based platform and mobile app, but the flagship desktop platform could use a refresh. TradeStation ranked among Best in Class in the Commissions and Fees and Investment Options categories in our 2023 Annual Review of online stockbrokers.
Interactive Brokers vs TradeStation Winner
Overall winner: Interactive Brokers
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