Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare Interactive Brokers vs TradeStation Securities.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular 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. For options trading, TradeStation Securities has a base fee of $5, and Interactive Brokers a base fee of $0. TradeStation Securities's per contract rate of $0.50 is less than Interactive Brokers which charges $0.70. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review
Next to commission rates, being able to trade what you want is important. Both Interactive Brokers and TradeStation Securities support Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, Interactive Brokers boasts an offering of 10051 mutual funds compared to TradeStation Securities's 4951 available funds. Commission free ETFs can also be valuable for customers, Interactive Brokers offers 45 commission free ETFs versus TradeStation Securities's total of 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Interactive Brokers and TradeStation Securities both offer virtual trading. Taking a look at mobile trading, Interactive Brokers along with TradeStation Securities both support the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Debit Cards are offered by Interactive Brokers while TradeStation Securities offers none of these. On the whole, when it comes to tools, research, and mobile trading, TradeStation Securities finished with awards Best in Class - Platforms & Tools, while Interactive Brokers came up with Best in Class - Mobile Trading.
Overall, Interactive Brokers comes out on top with 4.50 stars over TradeStation Securities's 4.00 stars.