Using data from the StockBrokers.com 2017 Broker Review which tested 16 different online brokers
over six months, we can compare Interactive Brokers vs TradeStation Securities to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. TradeStation Securities charges $5 per stock trade which is $5 more than Interactive Brokers which charges customers $0 (the broker charges a per share rate instead) per trade. With options, the base fees charged are $5 (TradeStation Securities) and $0 (Interactive Brokers). TradeStation Securities's per contract rate of $0.50 is less than Interactive Brokers which charges $0.70. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews
Next, investors want to make sure they can trade the investment vehicle they want. Interactive Brokers and TradeStation Securities provide clients with Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Interactive Brokers boasts an offering of 8026 mutual funds compared to TradeStation Securities's 4854 available funds. And, commission free ETFs deserve a comparison, Interactive Brokers offers 33 commission free ETFs versus TradeStation Securities's total of 0.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Interactive Brokers alongside TradeStation Securities offer virtual trading. For mobile trading, Interactive Brokers along with TradeStation Securities both support the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Unfortunately, Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at Interactive Brokers or TradeStation Securities . All factors considered, when it comes to platform tools, research, and mobile trading, Interactive Brokers posted awards Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2017, while TradeStation Securities found itself with Best in Class - Platforms & Tools.
Overall, Interactive Brokers takes the upper hand with 4.00 stars over TradeStation Securities's 3.50 stars.