Interactive Brokers (IBKR) is widely known for its low-cost trading, powerful tools and unmatched international market access. But it’s not the only option nor is it the perfect fit for every investor.
Whether you’re an active trader looking for speed and analytics, a long-term investor wanting simplicity or someone focused on cost-efficiency, there are alternatives that can match or exceed IBKR in key areas. This guide walks you through the best Interactive Brokers alternatives based on pricing, features, investor experience and suitability for different goals.
How We Chose the Best Interactive Brokers Alternatives
Each brokerage was evaluated based on:
- Commission structure and pricing transparency
- Platform usability (web and mobile)
- Access to asset classes like stocks, ETFs, options and futures
- Account types available (taxable, retirement, custodial)
- Advanced trading tools and research access
- International market access
- Customer support and education quality
Quick Look at the Best Interactive Brokers Alternatives:
- Best Overall: Plus500
- Best for Stock Research: Fidelity
- Best for Full-Service and Beginner Investors: Charles Schwab
- Best for Active and Options Traders: TradeStation
- Best for Low-Cost Options and Futures: tastytrade
- Best for Bank of America Customers: Merrill Edge
- Best for Global Market Access: Saxo Bank
7 Best Interactive Brokers Alternatives
If you're exploring alternatives to Interactive Brokers, this list will help you identify top brokerage platforms that deliver on pricing, tools, asset access and investor experience without sacrificing performance.
1. Best Overall: Plus500
- Sponsored
Plus500 is a global multi-asset fintech group that operates trading platforms globally, offering a range of trading products, including CFDs, Share dealing and Futures trading (US).
Key Features:
- Quick onboarding
- Simplified mobile trading
- Easy-to-use platform
- CFDs for indices, ETFs, shares, forex, commodities, options and cryptocurrency
- Free deposits and withdrawals
- $100 minimum investment
- 0.7% currency conversion fee per transaction, when the currency in your account is different from those traded (Overnight Funding, Currency Conversion Fee, Guaranteed Stop Order, and Inactivity Fee)
However, Plus500 is not a platform for novices as it solely makes money from spreads and does not charge a commission. You may start trading Plus500 right away, leverage your experience, expand your portfolio, and start making money right away.
Plus500 is at the top of this list because it provides the best selection of tools and assets for a wide range of traders
2. Best for Stock Research: Fidelity
- Best For:Stock ResearchVIEW PROS & CONS:securely through Fidelity Investments's website
Fidelity is a standout alternative to Interactive Brokers for long-term investors seeking low costs, quality research and excellent customer support. Unlike IBKR, which is geared more toward active traders, Fidelity offers a more balanced experience suitable for retirement savers, casual investors and those who want access to managed portfolios or zero-cost index funds. With an intuitive platform, strong investor education and access to a wide range of financial products, Fidelity makes it easy to invest with confidence even if you’re not an expert.
Key Features:
- Fees: $0 commissions on stocks, ETFs and options ($0.65 per contract fee for options)
- Assets: Stocks, ETFs, mutual funds, options, fixed income and international investing via brokers
- Platform: User-friendly web and mobile platforms with Active Trader Pro for power users
- Tools: Industry-leading research from Zacks, Morningstar and others
- Drawbacks: Less direct international trading than IBKR
3. Best for Full-Service and Beginners: Charles Schwab
- Best For:Fund InvestingVIEW PROS & CONS:securely through Charles Schwab's website
Charles Schwab combines tools with guidance, making it a great alternative for beginners and long-term investors who want a one-stop shop. Schwab offers free trades, no account minimums and one of the most comprehensive educational libraries in the industry. Its integration with the thinkorswim platform adds even more value, providing access to advanced trading features that rival those of Interactive Brokers without the intimidating complexity. It's also an excellent fit for investors who want to keep things simple while still having room to grow.
Key Features:
- Fees: $0 commissions on stocks, ETFs and options; $0.65 per contract for options
- Assets: Broad mix including stocks, ETFs, mutual funds, fixed income and futures
- Platform: thinkorswim (from TD Ameritrade), highly regarded for its charting and analytics
- Tools: In-depth educational materials and a well-rated mobile app
- Drawbacks: Limited access to international exchanges compared to IBKR
4. Best for Active Traders: TradeStation
TradeStation is purpose-built for active traders who need power, precision and customization, making it an ideal IBKR alternative for those who care about speed and strategy. While Interactive Brokers is known for advanced trading tools, TradeStation offers a comparable (and in some areas superior) experience, especially for day traders and options strategists. With programmable automation, real-time market scanning and tiered pricing models, it supports high-volume and algorithmic traders alike.
Key Features:
- Fees: $0 for stocks and ETFs; options $0.60 per contract; futures from $1.50 per contract
- Assets: Stocks, options, ETFs, futures, crypto
- Platform: Fully customizable with EasyLanguage for strategy automation
- Tools: Real-time data feeds, trade simulation and RadarScreen for scanning opportunities
- Drawbacks: Platform fees may apply if minimum activity isn't met
5. Best for Low-Cost Options and Futures: tastytrade
tastytrade is a highly focused platform for options and futures traders who want rock-bottom costs and streamlined execution. If you find Interactive Brokers too complex or are primarily trading options and micros, tastytrade offers a simpler yet powerful alternative. It doesn’t attempt to be all things to all investors but excels at what it does: delivering fast, intuitive trading experiences with a transparent fee structure and great risk tools.
Key Features:
- Fees: $1 per options contract opening (no closing fees), $1.25 per futures contract
- Assets: Options, stocks, ETFs, futures, crypto
- Platform: Slick, minimalist design focused on rapid-fire trading
- Tools: Strategy visualizations, risk analysis tools and live programming for education
- Drawbacks: Lacks access to mutual funds and some fixed income products
6. Best for Bank of America Customers: Merrill Edge
- Best For:Bank of America CustomersVIEW PROS & CONS:securely through Merrill Edge's website
Merrill Edge stands out for its seamless integration with Bank of America, offering a unified experience for users managing both banking and investing. While Interactive Brokers offers broader asset classes and global market access, Merrill Edge delivers strong research and rewards for BofA clients through the Preferred Rewards program. For those seeking a simple platform with the backing of a large financial institution, it’s a compelling option.
Key Features:
- Fees: $0 for stocks, ETFs and options; $0.65 per contract for options
- Assets: Stocks, ETFs, options, mutual funds, fixed income
- Platform: Solid research tools and dashboards; Preferred Rewards boosts benefits
- Tools: Proprietary Morningstar data and strong customer support
- Drawbacks: No direct access to international markets
7. Best for International Market Access: Saxo Bank
Saxo Bank is an international trading powerhouse, offering access to over 71,000 financial instruments across 50+ global exchanges. For investors who trade across borders or seek emerging market exposure, it offers more direct market access than most U.S.-based brokers including Interactive Brokers. While Saxo’s pricing can be more complex, its institutional-grade platforms and extensive product list make it a solid choice for global-minded investors.
Key Features:
- Fees: Tiered, country-specific pricing; not ideal
- Assets: 60,000+ instruments including stocks, bonds, ETFs, CFDs, forex and futures
- Platform: SaxoTraderGO and SaxoTraderPRO with advanced analysis capabilities
- Tools: Comprehensive global data, technical indicators and risk management features
- Drawbacks: Higher minimum deposit (often $2,000+ depending on location)
Why Choosing the Right Broker Matters
Selecting the right brokerage isn't just about picking a recognizable name, it's about finding the platform that aligns with your specific investing goals, habits and experience level. Costs, for example, can quietly erode your returns over time. A few dollars saved on each trade may seem minor, but over months or years, these savings can add up to hundreds, even thousands, depending on your trading volume. Likewise, the asset classes you want to invest in whether that’s international stocks, options or futures may not be available or as accessible on every platform.
Your Broker, Your Investing Strategy
Interactive Brokers has long been considered a top-tier brokerage, but it’s not a one-size-fits-all solution. The best alternative depends on your individual goals, trading style and the features you value most. Fidelity stands out for long-term investors seeking strong research and zero-cost index fund access, while Charles Schwab offers a user-friendly platform ideal for beginners and those who appreciate full-service support.
Active traders may gravitate toward TradeStation or tastytrade for their advanced tools and low-cost execution. Merrill Edge is a logical fit for Bank of America customers looking to integrate their banking and investing and Saxo Bank caters to global investors needing direct access to international markets. In the end, the right brokerage is the one that best supports your investing strategy, not just the one with the most features or lowest fees.
Frequently Asked Questions
What is the best alternative to Interactive Brokers for international trading?
Saxo Bank and Fidelity both offer international access, but Saxo Bank is better suited for professional traders seeking direct exchange access in over 30 countries.
Can beginners use TradeStation or Interactive Brokers?
Yes, but they come with a steep learning curve. Beginners may prefer platforms like Charles Schwab or Fidelity, which prioritize ease of use and education.
Are zero-commission brokers safe to use?
Yes, as long as they are regulated by entities like the SEC or FINRA. All brokers mentioned in this article are registered and compliant with U.S. financial regulations.
