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Interactive Brokers vs TradeStation 2022

StockBrokers.com

Written by StockBrokers.com

November 02, 2022

Is Interactive Brokers better than TradeStation? After testing 15 of the best online brokers over six months, E*TRADE (92.52%) is better than Interactive Brokers (89.29%). Founded in 1982 as one of the first online brokerages in the United States, E*TRADE highlights include $0 trades, two excellent mobile apps and the Power E*TRADE platform, which is great for beginners, active trading and options trading.

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Overall RatingInteractive BrokersTradeStationE*TRADE
Overall4.5 Stars4 Stars5 Stars
Commissions & Fees4.5 Stars4.5 Stars4.5 Stars
Investment Options5 Stars4.5 Stars5 Stars
Platforms & Tools4.5 Stars4.5 Stars4.5 Stars
Mobile Trading Apps4.5 Stars4.5 Stars5 Stars
Research5 Stars2 Stars4.5 Stars
Customer Service3 Stars2 Stars4.5 Stars
Education4.5 Stars3.5 Stars4.5 Stars
Ease Of Use4 Stars4.5 Stars5 Stars
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ReviewInteractive Brokers ReviewTradeStation ReviewE*TRADE Review
Trading FeesInteractive BrokersTradeStationE*TRADE
Minimum Deposit$0.00$0.00$0.00
Stock Trades$0.00$0.00$0.00
Penny Stock Fees (OTCCB)$0.00$0.00$6.95
Mutual Fund Trade Fee$14.95$14.95$19.99
Options (Base Fee)$0.00$0.00$0.00
Options (Per Contract)$0.65$0.60$0.65
Futures (Per Contract)$0.85$1.50$1.50
Broker Assisted Trade Fee$30$0$25
Margin RatesInteractive BrokersTradeStationE*TRADE
Margin Rate Under $24,999.994.58%11.00%11.95%
Margin Rate $25,000.00 to $49,999.994.58%11.00%11.45%
Margin Rate $50,000.00 to $99,999.994.58%10.00%10.95%
Margin Rate $100,000.00 to $249,999.994.08%10.00%10.45%
Margin Rate $250,000.00 to $499,999.994.08%10.00%9.95%
Margin Rate $500,000.00 to $999,999.994.08%5.50%9.45%
Margin Rate Above $1,000,000.003.83%5.50%8.45%
Account FeesInteractive BrokersTradeStationE*TRADE
IRA Annual Fee$0.00$35.00$0.00
IRA Closure Fee$0.00$50.00$0.00
Account Transfer Out (Partial)$0.00$125.00$25.00
Account Transfer Out (Full)$0.00$125.00$75.00
Options Exercise Fee$0.00$14.95$0.00
Options Assignment Fee$0.00$5.95$0.00
Investment OptionsInteractive BrokersTradeStationE*TRADE
Stock TradingYesYesYes
Margin TradingYesYesYes
Fractional SharesYesNoNo
OTCBB / Pink SheetsYesYesYes
Options TradingYesYesYes
Complex Options Max Legs644
Futures TradingYesYesYes
Forex TradingNoNoNo
Crypto TradingYesYesNo
Crypto Trading - Total Coins4110
Mutual Funds (No Load)108828006486
Mutual Funds (Total)1116040007242
Bonds (US Treasury)YesYesYes
Bonds (Corporate)YesYesYes
Bonds (Municipal)YesYesYes
Advisor ServicesNoNoYes
International Countries (Stocks)3300
Order TypesInteractive BrokersTradeStationE*TRADE
Order Type - MarketYesYesYes
Order Type - LimitYesYesYes
Order Type - After HoursYesYesYes
Order Type - StopYesYesYes
Order Type - Trailing StopYesYesYes
Order Type - OCOYesYesYes
Order Type - OTOYesYesYes
Order Type - Broker AssistedYesYesYes
BeginnersInteractive BrokersTradeStationE*TRADE
Education (Stocks)YesYesYes
Education (ETFs)YesNoYes
Education (Options)YesYesYes
Education (Mutual Funds)NoNoYes
Education (Bonds)YesNoYes
Education (Retirement)YesNoYes
Retirement CalculatorNoNoYes
Investor DictionaryYesNoYes
Paper TradingYesYesYes
VideosYesYesYes
WebinarsYesYesYes
Webinars (Archived)YesNoYes
Progress TrackingYesNoNo
Interactive Learning - QuizzesYesNoYes
Stock Trading AppsInteractive BrokersTradeStationE*TRADE
iPhone AppYesYesYes
Android AppYesYesYes
Apple Watch AppYesYesYes
Trading - StocksYesYesYes
Trading - After-HoursYesYesYes
Trading - Simple OptionsYesYesYes
Trading - Complex OptionsYesYesYes
Order Ticket RT QuotesYesYesYes
Order Ticket SRT QuotesYesYesYes
Stock App FeaturesInteractive BrokersTradeStationE*TRADE
Market Movers (Top Gainers)YesYesYes
Stream Live TVYesNoYes
Videos on DemandYesNoNo
Stock AlertsYesYesYes
Option Chains ViewableYesYesYes
Watch List (Real-time)YesYesYes
Watch List (Streaming)YesYesYes
Watch Lists - Create & ManageYesYesYes
Watch Lists - Column CustomizationYesYesYes
Watch Lists - Total Fields64033595
Stock App ChartingInteractive BrokersTradeStationE*TRADE
Charting - After-HoursYesYesYes
Charting - Can Turn HorizontallyYesYesYes
Charting - Multiple Time FramesYesYesYes
Charting - Technical Studies974510
Charting - Study CustomizationsYesYesYes
Charting - Stock ComparisonsNoNoYes
Trading PlatformsInteractive BrokersTradeStationE*TRADE
Active Trading PlatformTrader Workstation (TWS)TradeStation 10Power E*TRADE
Desktop Trading PlatformYesYesNo
Desktop Platform (Mac)YesNoNo
Web Trading PlatformYesYesYes
Paper TradingYesYesYes
Trade JournalYesNoNo
Watch Lists - Total Fields64033595
Stock Chart FeaturesInteractive BrokersTradeStationE*TRADE
Charting - Adjust Trades on ChartYesYesYes
Charting - Indicators / Studies121290119
Charting - Drawing Tools852331
Charting - NotesYesYesYes
Charting - Index OverlaysYesYesYes
Charting - Historical TradesYesYesYes
Charting - Corporate EventsYesYesYes
Charting - Custom Date RangeYesYesYes
Charting - Custom Time BarsYesYesNo
Charting - Automated AnalysisYesYesYes
Charting - Save ProfilesYesYesYes
Trade Ideas - Technical AnalysisYesYesYes
Charting - Study Customizations5126
Charting - Custom StudiesNoYesNo
Day TradingInteractive BrokersTradeStationE*TRADE
Streaming Time & SalesYesYesYes
Streaming TVYesNoYes
Direct Market Routing - StocksYesYesYes
Ladder TradingYesYesNo
Trade Hot KeysYesYesYes
Level 2 Quotes - StocksYesYesYes
Trade Ideas - BacktestingYesYesNo
Trade Ideas - Backtesting AdvYesYesNo
Short LocatorYesYesNo
Order Liquidity RebatesYesYesNo
Research OverviewInteractive BrokersTradeStationE*TRADE
Research - StocksYesYesYes
Research - ETFsYesYesYes
Research - Mutual FundsYesNoYes
Research - Pink Sheets / OTCBBYesYesYes
Research - BondsYesNoYes
Screener - StocksYesYesYes
Screener - ETFsYesNoYes
Screener - Mutual FundsYesNoYes
Screener - BondsYesNoYes
Misc - Portfolio AllocationYesYesYes
Stock ResearchInteractive BrokersTradeStationE*TRADE
Stock Research - PDF Reports706
Stock Research - EarningsYesNoYes
Stock Research - InsidersYesNoYes
Stock Research - SocialYesNoYes
Stock Research - NewsYesYesYes
Stock Research - ESGYesNoNo
Stock Research - SEC FilingsYesNoYes
ETF ResearchInteractive BrokersTradeStationE*TRADE
ETFs - Strategy OverviewYesNoYes
ETF Fund Facts - Inception DateYesNoYes
ETF Fund Facts - Expense RatioYesNoYes
ETF Fund Facts - Net AssetsYesNoYes
ETF Fund Facts - Total HoldingsYesNoYes
ETFs - Top 10 HoldingsYesNoYes
ETFs - Sector ExposureYesNoYes
ETFs - Risk AnalysisYesNoYes
ETFs - RatingsYesNoYes
ETFs - Morningstar StyleMapYesNoYes
ETFs - PDF ReportsYesNoYes
Mutual Fund ResearchInteractive BrokersTradeStationE*TRADE
Mutual Funds - Strategy OverviewYesNoYes
Mutual Funds - Performance ChartYesNoNo
Mutual Funds - Performance AnalysisYesNoYes
Mutual Funds - ProspectusYesNoYes
Mutual Funds - 3rd Party RatingsYesNoYes
Mutual Funds - Fees BreakdownYesNoYes
Mutual Funds - Top 10 HoldingsYesNoYes
Mutual Funds - Asset AllocationYesNoYes
Mutual Funds - Sector AllocationYesNoYes
Mutual Funds - Country AllocationYesNoYes
Mutual Funds - StyleMapYesNoYes
Options TradingInteractive BrokersTradeStationE*TRADE
Option Chains - Basic ViewYesYesYes
Option Chains - Strategy ViewYesYesYes
Option Chains - StreamingYesYesYes
Option Chains - Total Columns443231
Option Chains - Greeks1255
Option Chains - Quick AnalysisYesYesYes
Option Analysis - P&L ChartsYesYesYes
Option Probability AnalysisYesYesYes
Option Probability Analysis AdvYesYesYes
Option Positions - GreeksYesYesYes
Option Positions - Greeks StreamingYesYesYes
Option Positions - Adv AnalysisYesYesYes
Option Positions - RollingYesYesYes
Option Positions - GroupingYesYesYes
BankingInteractive BrokersTradeStationE*TRADE
Bank (Member FDIC)NoNoYes
Checking AccountsNoNoYes
Savings AccountsNoNoYes
Credit CardsNoNoYes
Debit CardsYesNoYes
Mortgage LoansNoNoYes
Customer ServiceInteractive BrokersTradeStationE*TRADE
Phone Support (Prospect Customers)YesYesYes
Phone Support (Current Customers)YesNoYes
Email SupportYesYesYes
Live Chat (Prospect Customers)NoYesNo
Live Chat (Current Customers)YesYesYes
24/7 SupportNoNoYes
OverallInteractive BrokersTradeStationE*TRADE
Overall4.5 Stars4 Stars5 Stars
Commissions & Fees4.5 Stars4.5 Stars4.5 Stars
Investment Options5 Stars4.5 Stars5 Stars
Platforms & Tools4.5 Stars4.5 Stars4.5 Stars
Mobile Trading Apps4.5 Stars4.5 Stars5 Stars
Research5 Stars2 Stars4.5 Stars
Education4.5 Stars3.5 Stars4.5 Stars
Ease Of Use4 Stars4.5 Stars5 Stars
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ReviewInteractive Brokers ReviewTradeStation ReviewE*TRADE 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_boxTD Ameritrade
  • check_box_outline_blankcheck_boxTradeStation
  • check_box_outline_blankcheck_boxTradier
  • check_box_outline_blankcheck_boxVanguard
  • check_box_outline_blankcheck_boxWebull
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Interactive Brokers vs TradeStation Comparison

Comparing brokers side by side is no easy task. For our 2022 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare Interactive Brokers vs TradeStation.

Is Interactive Brokers or TradeStation better for beginners?

E*TRADE offers more comprehensive new investor education for beginner investors than Interactive Brokers. 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, OTCBB / Pink Sheets, Mutual Funds and Futures Trading, while TradeStation offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, 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 E*TRADE 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?

In 2022, Interactive Brokers remains our top pick for professionals because of its institutional-grade desktop trading platform and rock-bottom margin rates. Professionals aside, Interactive Brokers also appeals to active traders and casual investors with $0 trades and a user-friendly web platform.

Is TradeStation good?

As a trading technology leader, TradeStation supports casual traders through its web-based platform and active traders through its award-winning desktop platform, all with $0 stock and ETF trades.

Interactive Brokers vs TradeStation Winner

Overall winner: E*TRADE

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