Using data from our latest annual broker review which tested more than a dozen 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. Looking at trading options, Interactive Brokers's base fee is $0 while TradeStation Securities's is $5. Each option contract then costs $0.70 at Interactive Brokers and $0.50 at TradeStation Securities. 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 10051 mutual funds compared to TradeStation Securities's 4951 available funds. And, commission free ETFs deserve a comparison, Interactive Brokers offers 45 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. Both Interactive Brokers and 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. Debit Cards are available to clients of Interactive Brokers while TradeStation Securities offers customers none of these. All factors considered, when it comes to platform tools, research, and mobile trading, TradeStation Securities posted awards Best in Class - Platforms & Tools in 2018, while Interactive Brokers found itself with Best in Class - Mobile Trading.
Overall, Interactive Brokers takes the upper hand with 4.50 stars over TradeStation Securities's 4.00 stars.