menu

arrow_drop_up arrow_drop_down Select Brokers

    ×
StockBrokers.com is committed to the highest ethical standards and reviews services independently. Advertiser Disclosure

Interactive Brokers vs TradeStation 2020

StockBrokers.com | January 21st, 2020

  1. Home
  2. Compare
  3. Interactive Brokers vs TradeStation Review

Is TradeStation better than Interactive Brokers? After scoring brokers in eight separate categories for our 2020 review, Interactive Brokers (90.58%) is better than TradeStation (82.4%).

Interactive Brokers

Best for professionals - Open Account
Exclusive Offer: New clients that open an account today receive a special margin rate

While Interactive Brokers is not well known for its casual investor offering, it leads the industry with low-cost trading for professionals. Through the Trader Workstation (TWS) platform, Interactive Brokers offers excellent tools and an extensive selection of tradable securities. Read full review

TradeStation

Best platform technology

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. Read full review

Overall Rating

Feature Interactive Brokers TradeStation
Overall 4.5 4
Interactive Brokers Review TradeStation Review

Trading Fees

Feature Interactive Brokers TradeStation
Minimum Deposit $0.00 $0.00
Stock Trade Fee (per trade) N/A $0.00
ETF Trade Fee $0.01 $0.00
Options Base Fee $0.00 $0.00
Options Per Contract Fee $0.65 $0.50
Mutual Fund Trade Fee $14.95 $14.95
Broker Assisted Trades Fee $30.00 $50.00
Commissions & Fees 5 4.5
Winner check_circle

Margin Rates

Feature Interactive Brokers TradeStation
Under $24,999.99 3.08% 9.50%
$25,000.00 to $49,999.99 3.08% 9.50%
$50,000.00 to $99,999.99 3.08% 8.75%
$100,000.00 to $249,999.99 2.58% 8.75%
$250,000.00 to $499,999.99 3.18% 8.75%
$500,000.00 to $999,999.99 2.75% 5.50%
Above $1,000,000.00 2.08% 5.50%
Commissions & Fees 5 4.5
Winner check_circle

Account Fees

Feature Interactive Brokers TradeStation
IRA Annual Fee $0.00 $35.00
IRA Closure Fee $0.00 $50.00
Returned ACH Fee N/A $25.00
Returned Wire Fee N/A $25.00
Stock Certificate Processing Fee N/A $150.00
Stock Certificate Delivery Fee N/A $15.00
Paper Statement Fee N/A $1.00
Paper Confirmation Fee N/A $1.00
Domestic Wire Fee $10.00 $25.00
International Wire Fee $10.00 $35.00
Commissions & Fees 5 4.5

Investment Options

Feature Interactive Brokers TradeStation
Stock Trading
 Yes Yes
Fractional Shares
 Yes No
OTCBB / Pink Sheets
 Yes Yes
Options Trading
 Yes Yes
Complex Options Max Legs
 8 4
Futures Trading
 Yes Yes
Forex Trading
 No No
Commission-Free ETFs 96 all
Mutual Funds (No Load)
 8534 887
Mutual Funds (Total)
 12 4357
Bonds (US Treasury)
 Yes Yes
Bonds (Corporate)
 Yes Yes
Bonds (Municipal)
 Yes Yes
Interest Sharing
 Yes Yes
Advisor Services
 No No
International Trading
 Yes No
Offering of Investments 4.5 4.5
Winner check_circle

Order Types

Feature Interactive Brokers TradeStation
Order Type - Market
 Yes Yes
Order Type - Limit
 Yes Yes
Order Type - Stop
 Yes Yes
Order Type - Trailing Stop
 Yes Yes
Order Type - Contingent
 Yes Yes
Order Type - MultiContingent
 Yes Yes
Order Type - OCO
 Yes Yes
Order Type - OTO
 Yes Yes
Order Type - OTOCO
 Yes Yes
Offering of Investments 4.5 4.5
Winner check_circle

Trading Platforms

Feature Interactive Brokers TradeStation
Desktop Platform (Windows)
 Yes Yes
Desktop Platform (Mac)
 Yes No
Web Platform
 Yes Yes
Paper Trading
 Yes Yes
Trade Journal
 Yes No
Watch Lists - Total Fields
 494 335
Heat Mapping
 Yes No
AI Assistant Bot
 Yes No
Platforms & Tools 4.5 5
Winner check_circle

Charting Features

Feature Interactive Brokers TradeStation
Charting - Trade Off Chart
 Yes Yes
Charting - Indicators / Studies
 121 285
Charting - Drawing Tools
 9 23
Charting - Historical Trades
 Yes Yes
Charting - Corporate Events
 Yes No
Charting - Automated Analysis
 No No
Charting - Save Profiles
 Yes Yes
Charting - Study Customizations
 6 12
Charting - Custom Studies
 No Yes
Platforms & Tools 4.5 5
Winner check_circle

Day Trading

Feature Interactive Brokers TradeStation
Stock Alerts - Basic Fields
 Yes Yes
Stock Alerts - Advanced Fields
 No Yes
Streaming Time & Sales
 Yes Yes
Streaming TV
 Yes No
Direct Market Routing - Stocks
 Yes Yes
Direct Market Routing - Options
 Yes Yes
Ladder Trading
 Yes Yes
Trade Hot Keys
 Yes Yes
Level 2 Quotes - Stocks
 Yes Yes
Level 2 Quotes - Options
 Yes Yes
Trade Ideas - Backtesting
 Yes Yes
Short Locator
 Yes Yes
Order Liquidity Rebates
 Yes Yes
Winner check_circle

Mobile Trading Apps

Feature 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 - Conditional Orders
 Yes Yes
Trading - Mutual Funds
 Yes No
Trading - Simple Options
 Yes Yes
Trading - Complex Options
 Yes Yes
Trading - Option Rolling
 No No
Touch / Face ID
 Yes Yes
Winner check_circle

Mobile App Features

Feature Interactive Brokers TradeStation
Watch List Syncing
Yes Yes
Stock Alerts
 Yes Yes
Charting - After Hours
 Yes Yes
Charting - Drawing
 No Yes
Charting - Study Customizations
Yes Yes
Heatmapping
 No No
Stream Live TV
 Yes No
Barcode Lookup
 No No
Mobile Trading 4.5 4.5
Winner check_circle

Research Overview

Feature 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 No
Screener - Mutual Funds
 No No
Screener - Options
 Yes Yes
Screener - Bonds
 Yes No
Misc - Portfolio Builder
 Yes No
Misc - Portfolio Allocation
 Yes No
Research 4 2
Winner check_circle

Stock Research

Feature Interactive Brokers TradeStation
Stock Research - Reports
 2 0
Stock Research - Earnings
 Yes No
Stock Research - Insiders
 Yes No
Stock Research - Metric Comp
 Yes No
Stock Research - SEC Filings
 Yes No
Stock Research - Social
 Yes No
Stock Research - Balance Sheet
 Yes No
Stock Research - Cash Flows
 Yes No
Stock Research - News
 Yes Yes
Stock Research - ESG
 Yes No
Research 4 2
Winner check_circle

ETF Research

Feature Interactive Brokers TradeStation
ETFs - Strategy Overview
 Yes No
ETFs - Top 10 Holdings
 Yes No
ETFs - Sector Exposure
 Yes No
ETFs - Risk Analysis
 Yes No
ETFs - Performance Analysis
 Yes No
ETFs - Ratings
 Yes No
ETFs - Morningstar StyleMap
 No No
ETFs - Reports
 Yes No
Research 4 2
Winner check_circle

Mutual Fund Research

Feature Interactive Brokers TradeStation
Mutual Funds - Strategy Overview
 Yes No
Mutual Funds - Prospectus
 Yes No
Mutual Funds - Reports
 Yes No
Mutual Funds - Fees Breakdown
 Yes No
Mutual Funds - Top 10 Holdings
 Yes No
Mutual Funds - Asset Allocation
 No No
Mutual Funds - Sector Allocation
 Yes No
Mutual Funds - Country Allocation
 Yes No
Mutual Funds - StyleMap
 Yes No
Mutual Funds - 3rd Party Ratings
 Yes No
Research 4 2
Winner check_circle

Options Trading

Feature Interactive Brokers TradeStation
Option Chains - Streaming
 Yes Yes
Option Chains - Total Columns
 37 32
Option Chains - Greeks
4 5
Option Chains - Quick Analysis
 Yes Yes
Option Analysis - P&L Charts
 Yes Yes
Option Probability Analysis
 Yes Yes
Option Probability Analysis Adv
 Yes Yes
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
 Yes Yes
Option Positions - Rolling
 Yes Yes
Option Positions - Grouping
 Yes Yes
Platforms & Tools 4.5 5
Winner check_circle

Beginners

Feature Interactive Brokers TradeStation
Has Education - Stocks
 Yes Yes
Has Education - ETFs
 Yes No
Has Education - Options
 Yes Yes
Has Education - Mutual Funds
 No No
Has Education - Fixed Income
 Yes No
Has Education - Retirement
 No No
Paper Trading
 Yes Yes
Videos
 Yes Yes
Webinars (Monthly Avg)
 20 0
Webinars (Archived)
 Yes Yes
Live Seminars
 No Yes
Progress Tracking
 Yes No
Interactive Learning - Quizzes
 Yes No
Investor Magazine
 Yes Yes
Education 4 2.5
Winner check_circle

Banking

Feature Interactive Brokers TradeStation
Retail Locations
 0 0
Member FDIC
 Yes No
Checking Accounts
 Yes No
Savings Accounts
 No No
Credit Cards
 No No
Debit Cards
 Yes No
Mortgage Loans
 No No
No Fee Banking
 Yes No
Banking 2 0.5

Overall

Feature Interactive Brokers TradeStation
Interactive Brokers Review TradeStation Review
Overall 4.5 4
Winner check_circle

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 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. Interactive Brokers and TradeStation charge the same amount for regular stock trades, $0. Looking at options, the base fees charged are the same for both brokers, $0. Each option contract then costs $0.70 at Interactive Brokers and $0.50 at TradeStation. 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 provide clients with Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Interactive Brokers trails TradeStation by 4,345 total mutual funds, with TradeStation offering 4357 and Interactive Brokers offering 12.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Both Interactive Brokers and TradeStation offer virtual trading. For mobile trading, Both Interactive Brokers and TradeStation offer clients access to an iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts and Debit Cards are available to clients of Interactive Brokers while TradeStation offers customers none of these.

Overall, between Interactive Brokers and TradeStation, Interactive Brokers is the winner.

Interactive Brokers Review
TradeStation Review

Related Comparisons


Interactive Brokers vs. Cobra Trading TradeStation vs. E*TRADE Interactive Brokers vs. Lightspeed Interactive Brokers vs. TD Ameritrade TradeStation vs. Lightspeed TradeStation vs. TD Ameritrade

All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

arrow_drop_upBack to top
×