Written by StockBrokers.com
In this head to head comparison of Interactive Brokers vs TradeStation, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
Bottom line: Interactive Brokers offers a wider menu of investments than TradeStation. It earns 5 stars for Range of Investments and ranks #1 out of 14 brokers on StockBrokers.com, while TradeStation holds 4 stars and ranks #6. Beyond core markets, Interactive Brokers adds forex, crypto trading with 11 coins, and fractional shares—areas TradeStation doesn’t cover—making it the better fit if you want the most ways to invest.
Interactive Brokers vs TradeStation: Both brokers support stock and margin trading, plus options, futures, mutual funds, and OTC stocks. Only Interactive Brokers offers fractional shares trading for buying slices of high-priced stocks. For digital assets and currencies, Interactive Brokers provides crypto trading in 11 coins and access to forex; TradeStation does not offer either.
Account availability and extras: You can open Traditional or Roth IRAs at both brokers, and neither provides advisor services. If you mainly want standard markets, TradeStation covers the basics. If you want broader diversification—especially with fractional shares, forex, and crypto—Interactive Brokers is the more complete pick.
| Feature |
Interactive Brokers
|
TradeStation
|
|---|---|---|
| Stock Trading | Yes | Yes |
| Account Feature - Margin Trading | Yes | Yes |
| Fractional Shares (Stocks) | Yes | No |
| OTC Stocks | Yes | Yes |
| Mutual Funds | Yes | Yes |
| Options Trading | Yes | Yes |
| Futures Trading | Yes | Yes |
| Crypto Trading | Yes | No |
| Crypto Trading - Total Coins | 11 | 0 |
| Range of Investments |
|
|
Dive deeper: Best Options Trading Platforms for 2026, Best Futures Trading Platforms for 2026
Interactive Brokers vs. TradeStation: both are strong choices for active traders, but they shine in different ways. Interactive Brokers (4.5 stars; ranked #2 of 14 by StockBrokers.com) is best if you value dense data, many drawing tools, and having a built-in trading journal. TradeStation (4 stars; ranked #3 of 14) is the pick if you want the largest indicator library and the ability to build your own studies. In short, choose IBKR for watch list depth and workflow tracking, or TradeStation if custom strategy design and a bigger indicator set are top priorities.
Platform access is a draw: each offers downloadable Windows and Mac platforms plus a browser-based platform. Paper trading is available on both, and you can modify open orders right from the chart at either broker. A key difference is journaling—Interactive Brokers includes a trading journal, while TradeStation does not.
For customization, Interactive Brokers supports up to 659 watch list columns (versus 341 at TradeStation), and 85 drawing tools (versus 45). TradeStation counters with 294 technical indicators (versus 155 at IBKR) and lets you create custom studies; Interactive Brokers does not. Both let you add notes to charts, show past trades, display earnings/splits/dividends, set custom date ranges, run automated chart pattern recognition, and save multiple chart profiles. When editing a simple moving average, TradeStation exposes 12 fields, while Interactive Brokers offers 6.
| Feature |
Interactive Brokers
|
TradeStation
|
|---|---|---|
| Web Trading Platform | Yes | Yes |
| Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Mac) | Yes | Yes |
| Paper Trading | Yes | Yes |
| Watchlists - Total Fields | 659 | 341 |
| Charting - Indicators / Studies | 155 | 294 |
| Charting - Drawing Tools | 85 | 45 |
| Advanced Trading |
|
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Dive deeper: Best Stock Brokers for 2026, Best Paper Trading Apps & Platforms for 2026
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Interactive Brokers and TradeStation both provide education for beginners, but their range differs. Interactive Brokers covers stocks, ETFs, options, mutual funds, and bonds, and supplies videos, webinars, quizzes, learning progress tracking, and paper trading. TradeStation offers education on stocks and options with videos, webinars, and paper trading, but does not include education on ETFs, mutual funds, or bonds, and it lacks quizzes and progress tracking.
For quality, Interactive Brokers earns 4 out of 5 stars and ranks #3 of 14 brokers for education on StockBrokers.com, while TradeStation scores 2 out of 5 stars and ranks #14 of 14. If you want a fuller learning path across more asset classes with quizzes and a way to track your progress, Interactive Brokers is the better pick. If you mainly need basics on stocks and options with practice trading and live sessions, TradeStation can still fit the bill.
| Feature |
Interactive Brokers
|
TradeStation
|
|---|---|---|
| Education (Stocks) | Yes | Yes |
| Education (ETFs) | Yes | No |
| Education (Options) | Yes | Yes |
| Education (Mutual Funds) | Yes | No |
| Education (Fixed Income) | Yes | No |
| Videos | Yes | Yes |
| Webinars | Yes | Yes |
| Education |
|
|
Dive deeper: Best Stock Trading Platforms for Beginners of 2026
If you want the most capable mobile stock trading app, Interactive Brokers (IBKR) edges out TradeStation. IBKR earns 5 stars and ranks #2 of 14 at StockBrokers.com, while TradeStation scores 4 stars and ranks #6. Both are strong for on-the-go trading, but IBKR adds extras like Apple Watch support, streaming live TV, videos on demand, more chart tools, and landscape charts, which can make a daily difference.
Both brokers offer iPhone and Android apps, plus mobile options trading, streaming quotes, stock alerts, custom watchlists, customizable watchlist columns, after-hours charting, and multiple chart time frames. IBKR also lets you place after-hours trades from the mobile app; TradeStation’s mobile after-hours trading availability was not specified in the provided data. For wearables, IBKR works on Apple Watch, while TradeStation does not.
For research on the go, IBKR stands out with streaming live TV and on-demand videos; TradeStation does not include these. Charting runs deeper on IBKR as well: 97 technical studies versus 45 for TradeStation, support for landscape charts (TradeStation lacks this), and the ability to compare multiple stocks on one chart (not available on TradeStation). Both allow viewing multiple time frames in the mobile app.
| Feature |
Interactive Brokers
|
TradeStation
|
|---|---|---|
| iPhone App | Yes | Yes |
| Android App | Yes | Yes |
| Apple Watch App | Yes | No |
| Stock Alerts | Yes | Yes |
| Charting - After-Hours | Yes | Yes |
| Charting - Technical Studies | 97 | 45 |
| Mobile Trading Apps |
|
|
Dive deeper: Best Stock Trading Apps for 2026
Interactive Brokers vs TradeStation: For most investors, Interactive Brokers (IBKR) is the cheaper pick overall thanks to lower margin rates and no IRA or transfer fees, while TradeStation wins by a small edge on per-contract options pricing. Both brokers have $0 account minimums and $0 stock commissions. If you plan to use margin, hold an IRA, or might move your account, IBKR often delivers bigger savings; if you trade a high volume of options contracts, TradeStation’s $0.60 rate (vs IBKR’s $0.65) can help narrow the gap.
Trading costs: Stock trades are $0 at both brokers. Options contracts cost $0.65 at IBKR and $0.60 at TradeStation. Margin rates are a major separator: IBKR lists 6.83% for balances under $100,000, while TradeStation shows 12.5% below $50,000 and 11.5% for $50,000–$99,999—making IBKR’s borrowing costs far lower across these tiers.
Account and other fees: IBKR charges $0 for IRA annual and closure fees; TradeStation charges $35 per year and $50 to close. ACAT transfer fees at IBKR are $0 for both partial and full transfers, while TradeStation charges $125 for either. For options events, IBKR charges $0 for exercise and assignment; TradeStation lists $14.95 for exercise and $5.95 for assignment. Fees can change, so confirm current rates before opening an account.
| Feature |
Interactive Brokers
|
TradeStation
|
|---|---|---|
| Minimum Deposit | $0.00 | $0.00 |
| Stock Trades | $0.00 | $0.00 |
| Options (Per Contract) | $0.65 | $0.60 |
| Options Exercise Fee | $0.00 | $14.95 |
| Options Assignment Fee | $0.00 | $5.95 |
| IRA Annual Fee | $0.00 | $35.00 |
| IRA Closure Fee | $0.00 | $50.00 |
Dive deeper: Best Free Trading Platforms for 2026
When it comes to day trading, both Interactive Brokers and TradeStation offer strong feature sets that appeal to traders seeking comprehensive tools and analytics. Both platforms provide streaming time and sales data for stocks, which is essential for understanding real-time market movements. Traders can take advantage of direct market routing for precise order placement, use ladder trading for quick order adjustments, and employ trading hotkeys for efficient keyboard entry. Additionally, the availability of level 2 quotes and various backtesting capabilities, both basic and advanced, ensures that traders can thoroughly analyze and refine their strategies. Furthermore, both brokers offer a short locator tool enabling clients to view the availability of shares to short, along with order liquidity rebates that could potentially reduce trading costs.
Despite these similarities, Interactive Brokers edges out slightly by including streaming live TV as part of its services, keeping traders informed with the latest financial news directly within their platform—an area where TradeStation currently does not compete. This feature can be particularly advantageous for traders who rely on up-to-the-minute news and live market commentary to make informed trading decisions. Consequently, while both Interactive Brokers and TradeStation are equipped with essential tools for prompt and effective day trading, those seeking integrated live news would find Interactive Brokers to be more accommodating to their needs.
| Feature |
Interactive Brokers
|
TradeStation
|
|---|---|---|
| Streaming Time & Sales | Yes | Yes |
| Streaming TV | Yes | No |
| Direct Market Routing - Equities | Yes | Yes |
| Level 2 Quotes - Stocks | Yes | Yes |
| Trade Ideas - Backtesting | Yes | Yes |
| Trade Ideas - Backtesting Adv | Yes | Yes |
| Short Locator | Yes | Yes |
Dive deeper: Best Day Trading Platforms of 2026 for Beginners and Active Traders
Interactive Brokers is the stronger pick for market research. It earns 4.5 out of 5 stars and ranks #5 of 14 brokers for research at StockBrokers.com, while TradeStation scores 2.5 stars and ranks #11. If you want wide coverage, more data sources, and downloadable reports, Interactive Brokers will fit better; TradeStation works for basic stock and ETF checks but stops short in key areas.
Both brokers provide stock and ETF research, Pink Sheets/OTC research, and a view of portfolio allocation by asset class. Each also includes stock and ETF screeners to find trade ideas. Beyond that, their paths diverge: Interactive Brokers adds mutual fund and bond research, plus mutual fund and bond screeners; TradeStation does not. Interactive Brokers also supports stock research using social media sentiment and offers ESG research, while TradeStation offers neither.
For investors who like to read reports, Interactive Brokers supplies 17 downloadable PDF stock reports and also offers downloadable PDF reports for ETFs and mutual funds. TradeStation offers none. Put simply, Interactive Brokers covers more asset types and gives more ways to research and compare investments across stocks, ETFs, mutual funds, bonds, and OTC markets.
| Feature |
Interactive Brokers
|
TradeStation
|
|---|---|---|
| Research - Stocks | Yes | Yes |
| Screener - Stocks | Yes | Yes |
| Research - ETFs | Yes | Yes |
| Screener - ETFs | Yes | Yes |
| Research - Mutual Funds | Yes | No |
| Screener - Mutual Funds | Yes | No |
| Research - Fixed Income | Yes | No |
| Screener - Fixed Income | Yes | No |
| Research |
|
|
Comparing Interactive Brokers vs. TradeStation for banking features, both lack traditional bank accounts: neither offers checking accounts or savings accounts, and neither provides a debit card or mortgage loans. The main difference comes down to extras. Interactive Brokers offers a credit card and access to certificates of deposit (CDs), while TradeStation does not offer a credit card or CDs. If you want everyday banking tools like checking or savings, neither platform fits the bill, but if pairing your brokerage with a credit card and CDs is important, Interactive Brokers has the edge. TradeStation is more limited on banking services and leans purely toward trading features.
| Feature |
Interactive Brokers
|
TradeStation
|
|---|---|---|
| Checking Accounts | No | No |
| Savings Accounts | No | No |
| Debit Cards | No | No |
| Credit Cards | Yes | No |
| Mortgage Loans | No | No |
| Brokerage CDs | Yes | No |
Dive deeper: Best Brokerage Checking Accounts for 2026
After opening live accounts and testing 14 of the best online brokers, our research and live account testing finds that Interactive Brokers is better than TradeStation. Interactive Brokers finished with an overall score of 90.6%, while TradeStation finished with a score of 68.4%.
Interactive Brokers is a go-to choice for professionals because of its institutional-grade desktop trading platform, high-quality trade executions and low margin rates.
When comparing Interactive Brokers to TradeStation for crypto trading, Interactive Brokers stands out by offering trading in 11 different cryptocurrencies, whereas TradeStation does not provide any crypto trading options.
Dive deeper: Best Online Brokers for Crypto Trading in 2026
When comparing IRA account options, Interactive Brokers and TradeStation both offer traditional and Roth IRA accounts, but differ in fees: Interactive Brokers charges no annual fee or closure fee, while TradeStation imposes a $35 annual fee and a $50 closure fee.
Dive deeper: Best IRA Accounts for 2026
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| Trading Fees | Interactive Brokers | TradeStation | |
|---|---|---|---|
| Minimum Deposit | $0.00 | $0.00 | |
| Stock Trades | $0.00 | $0.00 | |
| Penny Stock Fees (OTC) | $0.01 | $0.01 | |
| Mutual Fund Trade Fee | $14.95 | $14.95 | |
| Options (Per Contract) | $0.65 | $0.60 | |
| Futures (Per Contract) | $0.85 | $1.50 | |
| Broker Assisted Trade Fee | Varies | $25 |
| Margin Rates | Interactive Brokers | TradeStation | |
|---|---|---|---|
| Margin Rate Under $25,000 | 6.83% | 12.5% | |
| Margin Rate $25,000 to $49,999.99 | 6.83% | 12.5% | |
| Margin Rate $50,000 to $99,999.99 | 6.83% | 11.5% | |
| Margin Rate $100,000 to $249,999.99 | 6.83% | 11.5% | |
| Margin Rate $250,000 to $499,999.99 | 6.83% | 12.0% | |
| Margin Rate $500,000 to $999,999.99 | 6.83% | 7.5% | |
| Margin Rate Above $1,000,000 | 6.83% | 7.5% |
| Account Fees | Interactive Brokers | TradeStation | |
|---|---|---|---|
| IRA Annual Fee | $0.00 | $35.00 | |
| IRA Closure Fee | $0.00 | $50.00 | |
| Account Transfer Out (Partial) | $0.00 | $125.00 | |
| Account Transfer Out (Full) | $0.00 | $125.00 | |
| Options Exercise Fee | $0.00 | $14.95 | |
| Options Assignment Fee | $0.00 | $5.95 |
| Investment Options | Interactive Brokers | TradeStation | |
|---|---|---|---|
| Stock Trading | Yes | Yes | |
| Account Feature - Margin Trading | Yes | Yes | |
| Fractional Shares (Stocks) | Yes | No | |
| OTC Stocks | Yes | Yes | |
| Options Trading | Yes | Yes | |
| Complex Options Max Legs | 6 | 4 | |
| Futures Trading | Yes | Yes | |
| Forex Trading | Yes | No | |
| Crypto Trading | Yes | No | |
| Crypto Trading - Total Coins | 11 | 0 | |
| Fixed Income (Treasurys) | Yes | No | |
| Fixed Income (Corporate Bonds) | Yes | No | |
| Fixed Income (Municipal Bonds) | Yes | No | |
| Traditional IRAs | Yes | Yes | |
| Roth IRAs | Yes | Yes | |
| Advisor Services | No | No | |
| International Countries (Stocks) | 36 | 0 |
| Order Types | Interactive Brokers | TradeStation | |
|---|---|---|---|
| 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 | Yes | |
| Order Type - OCO | Yes | Yes | |
| Order Type - OTO | Yes | Yes | |
| Order Type - Broker Assisted | Yes | Yes |
| Beginners | Interactive Brokers | TradeStation | |
|---|---|---|---|
| Education (Stocks) | Yes | Yes | |
| Education (ETFs) | Yes | No | |
| Education (Options) | Yes | Yes | |
| Education (Mutual Funds) | Yes | No | |
| Education (Fixed Income) | Yes | No | |
| Education (Retirement) | Yes | No | |
| Retirement Calculator | Yes | No | |
| Investor Dictionary | Yes | No | |
| Paper Trading | Yes | Yes | |
| Videos | Yes | Yes | |
| Webinars | Yes | Yes | |
| Progress Tracking | Yes | No | |
| Interactive Learning - Quizzes | Yes | No |
| Stock Trading Apps | Interactive Brokers | TradeStation | |
|---|---|---|---|
| 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 Features | Interactive Brokers | TradeStation | |
|---|---|---|---|
| Mobile Research - Market Movers | Yes | Yes | |
| Stream Live TV | Yes | No | |
| Videos on Demand | Yes | No | |
| Stock Alerts | Yes | Yes | |
| Option Chains Viewable | Yes | Yes | |
| Watchlist (Real-time) | Yes | Yes | |
| Watchlist (Streaming) | Yes | Yes | |
| Mobile Watchlists - Create & Manage | Yes | Yes | |
| Mobile Watchlists - Column Customization | Yes | Yes |
| Stock App Charting | Interactive Brokers | TradeStation | |
|---|---|---|---|
| Charting - After-Hours | Yes | Yes | |
| Charting - Can Turn Horizontally | Yes | No | |
| Charting - Multiple Time Frames | Yes | Yes | |
| Charting - Technical Studies | 97 | 45 | |
| Charting - Study Customizations | Yes | Yes | |
| Charting - Stock Comparisons | Yes | No |
| Trading Platforms | Interactive Brokers | TradeStation | |
|---|---|---|---|
| Active Trading Platform | IBKR Desktop and Trader Workstation (TWS) | TradeStation 10 | |
| Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Mac) | Yes | Yes | |
| Web Trading Platform | Yes | Yes | |
| Paper Trading | Yes | Yes | |
| Trade Journal | Yes | No | |
| Watchlists - Total Fields | 659 | 341 |
| Stock Chart Features | Interactive Brokers | TradeStation | |
|---|---|---|---|
| Charting - Adjust Trades on Chart | Yes | Yes | |
| Charting - Indicators / Studies | 155 | 294 | |
| Charting - Drawing Tools | 85 | 45 | |
| Charting - Notes | Yes | Yes | |
| Charting - Historical Trades | Yes | Yes | |
| Charting - Corporate Events | Yes | Yes | |
| Charting - Custom Date Range | Yes | Yes | |
| Charting - Custom Time Bars | Yes | Yes | |
| Charting - Automated Analysis | Yes | Yes | |
| Charting - Save Profiles | Yes | Yes | |
| Trade Ideas - Technical Analysis | Yes | Yes | |
| Charting - Study Customizations | 6 | 12 | |
| Charting - Custom Studies | No | Yes |
| Day Trading | Interactive Brokers | TradeStation | |
|---|---|---|---|
| Streaming Time & Sales | Yes | Yes | |
| Streaming TV | Yes | No | |
| Direct Market Routing - Equities | Yes | Yes | |
| Ladder Trading | Yes | Yes | |
| Trade Hot Keys | Yes | Yes | |
| Level 2 Quotes - Stocks | Yes | Yes | |
| Trade Ideas - Backtesting | Yes | Yes | |
| Trade Ideas - Backtesting Adv | Yes | Yes | |
| Short Locator | Yes | Yes | |
| Order Liquidity Rebates | Yes | Yes |
| Research Overview | Interactive Brokers | TradeStation | |
|---|---|---|---|
| Research - Stocks | Yes | Yes | |
| Research - ETFs | Yes | Yes | |
| Research - Mutual Funds | Yes | No | |
| Research - Pink Sheets / OTCBB | Yes | Yes | |
| Research - Fixed Income | Yes | No | |
| Screener - Stocks | Yes | Yes | |
| Screener - ETFs | Yes | Yes | |
| Screener - Mutual Funds | Yes | No | |
| Screener - Fixed Income | Yes | No | |
| Portfolio Asset Allocation | Yes | Yes |
| Stock Research | Interactive Brokers | TradeStation | |
|---|---|---|---|
| Stock Research - PDF Reports | 17 | 0 | |
| Stock Research - Earnings | Yes | Yes | |
| Stock Research - Insiders | Yes | No | |
| Stock Research - Social | Yes | No | |
| Stock Research - News | Yes | Yes | |
| Stock Research - ESG | Yes | No | |
| Stock Research - SEC Filings | Yes | No |
| ETF Research | Interactive Brokers | TradeStation | |
|---|---|---|---|
| ETFs - Investment Objective | Yes | No | |
| ETF Fund Facts - Inception Date | Yes | No | |
| ETF Fund Facts - Expense Ratio | Yes | No | |
| ETF Fund Facts - Total 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 | No | |
| ETFs - Ratings | Yes | No | |
| ETFs - Morningstar StyleMap | Yes | No | |
| ETFs - PDF Reports | Yes | No |
| Mutual Fund Research | Interactive Brokers | TradeStation | |
|---|---|---|---|
| Mutual Funds - Investment Objective | Yes | No | |
| Mutual Funds - Performance Chart | Yes | No | |
| Mutual Funds - Performance Analysis | Yes | No | |
| Mutual Funds - Prospectus | Yes | No | |
| Mutual Funds - 3rd Party Ratings | Yes | Yes | |
| 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 Trading | Interactive Brokers | TradeStation | |
|---|---|---|---|
| Option Chains - Total Greeks | 5 | 5 | |
| Option Analysis - P&L Charts | Yes | Yes |
| Banking | Interactive Brokers | TradeStation | |
|---|---|---|---|
| Bank (Member FDIC) | No | No | |
| Checking Accounts | No | No | |
| Savings Accounts | No | No | |
| Credit Cards | Yes | No | |
| Debit Cards | No | No | |
| Mortgage Loans | No | No |
| Customer Service | Interactive Brokers | TradeStation | |
|---|---|---|---|
| Phone Support (Prospective Customers) | Yes | Yes | |
| Phone Support (Current Customers) | Yes | Yes | |
| Email Support | Yes | Yes | |
| Live Chat (Prospective Customers) | No | Yes | |
| Live Chat (Current Customers) | Yes | Yes | |
| 24/7 Support | Yes | No |
| Overall | Interactive Brokers | TradeStation | |
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| Winner | check_circle | ||
| Review | Interactive Brokers Review | TradeStation Review |
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