TradeStation vs Interactive Brokers 2018

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TradeStation vs Interactive Brokers is a great comparison of two online brokers geared towards savvy, advanced stock, options, and futures traders.

It is worth mentioning that TradeStation and Interactive Brokers are some of the few online brokers that offer tired pricing for clients, where commissions become heavily discounted if you trade more than a certain number of contracts or shares in a month.

Overall, TradeStation offers better pricing than Interactive Brokers, and TradeStation doesn’t charge for market data or for account inactivity, where as Interactive Brokers charges for both of these things.

TradeStation vs Interactive Brokers 2018

Company Ratings

TradeStation

Interactive Brokers

Overall

Commissions & Fees

Customer Service

Trading Platforms

Mobile App

Overall Ease of Use

Promotion Value

Fees

 TradeStation

 Interactive Brokers

Minimum Deposit

 $0

$10,000

Stock Trade Fee

 $5.00 or $0.002 share

 $0.005 / share ($1 min)

Options Ticket Charge

 None or $5

 None

Options per Contract Fee

 $1.00 or $5 + $0.50

 $0.70

Mutual Fund Fee

N/A

 $14.95

Market Data Fee

 Free

 $10+ / month (more for futures & options)

Wire fee (outgoing)

 $14.95

 $10.00

Inactivity fee

 None

 $10 – $20 per month

Investments

TradeStation

Interactive Brokers

Stocks

Options

Futures

Forex

Bonds

OTC Stocks

Penny Stocks

Options on Futures

Crypto

Mutual Funds

4,951

10,051

International Trading

Advisor Services

Trading Platforms

TradeStation

Interactive Brokers

Web-based

Mobile App

Downloadable (Mac)

Downloadable (PC)

Real-time Level II data

Real-time Charting

Historical Option Data

Options Analysis

iPad App

Company Info

TradeStation

Interactive Brokers

In-person Branches

Customer Service hours

24/5

24/6 email + phone

Sum of Client Balances

Not listed

Not listed

Member FDIC

Savings Account

Checking Account

Free Online Banking

Margin Rates

TradeStation

Interactive Brokers

Under $24,999

8.50%

3.19%

$25k-$49,999

8.50%

2.69%

$50k-$99,999

7.75%

2.69%

$100k-$249,999

7.75%

2.69%

$250k-$499,999

7.75%

2.69%

$500k-$1M

4.50%

2.69%

Above $1M

4.50%

2.19%

Full Review

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For very advanced traders, who plan on trading large amounts of shares, TradeStation actually passes rebates along to clients.

Moreover, TradeStation is also trying to appeal to beginner traders as well, so they recently got rid of their market data fees. For comparison, full market data for options, stocks, and futures with Interactive Brokers costs around $20 to $100 per month depending if you get level 2 data or not.

Not having to pay market data fees with TradeStation is a huge bonus in our opinion. Plus, the account minimum for TradeStation is actually zero, whereas Interactive Brokers charges a steep $10,000 ($3,000 for students).

At the end of the day, TradeStation has demonstrably better pricing (for both beginner and advanced traders), has no inactivity fees, better customer service, and highly customizable trading platforms, and is the clear winner when compared to Interactive Brokers.

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