Best Interactive Brokers Alternatives in October 2025

The post Best Interactive Brokers Alternatives in October 2025 by Ryan Peterson appeared first on Benzinga. Visit Benzinga to get more great content like this.

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

7 Best Alternatives Interactive Brokers  

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

Best For

Leveraged Trading

Overall Rating

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Disclosure: 82% of retail accounts lose money

Best For

Leveraged Trading

N/A

1 Minute Review

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Plus500 is an online CFD broker focusing on contracts for difference (CFDs). CFDs are similar to binary options in the U.S. where traders take all-or-nothing speculation on the prices of certain securities like indices, commodities or currencies. While not legal to trade in the U.S., CFDs are legal in many jurisdictions across the globe and Plus500 offers a wide array of tradable markets using these instruments. 

Plus500 doesn’t charge commission and only profits off the spread, which is the difference between the buy and sell price of a specific security. But Plus500 is not a broker for beginners — the education materials are sparse and CFDs are risky derivatives capable of sapping out all of an investor’s capital. Only trade these instruments if you understand how they operate and the risks involved with buying them.

Best For

• Traders looking for a smooth mobile experience

Pros

• Great mobile app
• Low spreads and commissions
• Unlimited demo account

Cons

• Only derivatives are available
• Not open to U.S. residents

Futures trading on Plus500 provides access to commodity futures, stock index futures and currency futures, allowing traders to speculate on future price movements with leverage. The platform offers real-time data, advanced charting tools and risk management features, but lacks MT4/MT5 integration and automated trading tools that more seasoned traders may find useful.

While the futures market is inherently complex, Plus500 keeps the interface simple and accessible, making it an appealing option for US traders who want exposure to futures contracts — particular those first setting out or looking for a mobile application to trade from anywhere. Serious futures day traders may prefer a more specialized platform with deeper customization options.

Why we picked it: Benzinga enjoys how Plus500 helps investors build multi-asset portfolios that can be tasked to save for the future, produce income now or something in between, including its intuitive interface and rich cache of information.

2. Best for Stock Research: Fidelity

Best For

Stock Research

Overall Rating

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Best For

Stock Research

N/A

1 Minute Review

Fidelity is a comprehensive and responsive brokerage suitable for both new and experienced traders alike. With complete access to the full U.S. stock and options markets, a set of state-of-the-art education and research tools, as well as a wide fee-free fund selection, Fidelity is equally useful for the veteran swing traders to novices opening their first accounts. Mobile traders will be especially happy with Fidelity’s app, which mirrors full capabilities of the platform. Though there isn’t much to criticize about Fidelity, the broker does have a few areas where it can afford to improve. Margin rates are significantly higher than most other brokers, especially for traders borrowing less than $25,000. It also doesn’t offer any access to the futures markets. Despite these minor flaws, Fidelity remains a strong choice for most investors.

Best For

• Easy-to-navigate yet functional platform strikes the perfect balance between expert tools and comfort for beginners
• Mobile trading app is fully-optimized and mirrors full functionality of the desktop platform
• Wide range of education and research options make learning more about securities and the market easier and less time-consuming

Pros

• Complete range of both independent and managed services available at exceptionally affordable prices
• Offers access to both domestic markets and 25 foreign markets, as well as a wide range of options contracts and over 10,000 mutual funds
• Mobile app that is well-integrated and works just as well as the desktop platform
• Wide selection of education tools and resources available free of charge

Cons

• Margin rates higher than many other competing brokerages
• No access to futures trading
• High fees for buying a non-Fidelity mutual fund (with over 3,300 fee-free funds available)

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 Investing

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Best For

Fund Investing

N/A

1 Minute Review

Charles Schwab is a solid choice for traders of all skill levels. It offers full access to the U.S. equity and options markets as well as 30 international markets. Traders can create a diverse portfolio with $0 commissions and no account minimums. Schwab’s margin trading is expensive but Schwab makes up for it with affordable futures and options trades, along with a comprehensive mobile offering.

Best For

• 3 trading platforms perfectly in sync makes matching your platform to your skill level a snap
• Excellent futures trading education for new traders
• $0 account minimum means anyone can start trading

Pros

• Wide range of available assets to trade, including futures and 30 global markets
• SmartStreet Edge platform is powerful enough for advanced traders, yet easy enough for new traders to utilize
• Unique educational resources (like infographics and podcasts) make learning fun

Cons

• Margin rates are more expensive than competitors
• More limitations on available margin than competitors
• Expensive mutual funds

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

Best For

Futures Trading

Overall Rating

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Best For

Futures Trading

N/A

1 Minute Review

TradeStation is for advanced traders who need a comprehensive platform. The brokerage offers an impressive range of investable assets as frequent and professional traders appreciate its wide range of analysis tools. TradeStation’s app is also equally effective, offering full platform capabilities.

Best For

• Advanced traders
• Options and futures traders
• Active stock traders

Pros

• Comprehensive trading platform and professional-grade tools
• Wide range of tradable securities
• Fully-operational mobile app

Cons

• Confusing pricing structure to leave new traders with a weak understanding of what they pay
• Cluttered layout to make navigating TradeStation’s platform more difficult than it should be

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

Best For

Options Education

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Disclosure: Disclaimer: tastytrade, Inc. (“tastytrade”) has entered into a Marketing Agreement with Benzinga (“Marketing Agent”) whereby tastytrade pays compensation to Marketing Agent to recommend tastytrade’s brokerage services. The existence of this Marketing Agreement should not be deemed as an endorsement or recommendation of Marketing Agent by tastytrade and/or any of its affiliated companies. Neither tastytrade nor any of its affiliated companies is responsible for the privacy practices of Marketing Agent or this website. tastytrade does not warrant the accuracy or content of the products or services offered by Marketing Agent or this website. Marketing Agent is independent and is not an affiliate of tastytrade. tastytrade and tastylive, Inc. (“tastylive”) are separate but affiliated companies.

Best For

Options Education

N/A

1 Minute Review

tastytrade is a sophisticated options and futures broker aimed toward experienced traders. The platform was designed by the founders of thinkorswim with functionality and precision for complicated options trades and strategies. tastytrade offers stocks and ETFs to trade too, but the main focus is options. 

Options on tastytrade are only charged a 1-way, $1 commission —  far cheaper than almost all competitors. Commissions on futures and micro futures are also affordable, and there’s no minimum required to open a cash account. It’s $2,000 if you want to use margin.

Best For

• Options traders
• Futures traders
• Advanced traders

Pros

• Powerful platform inspired by thinkorswim
• Multiple order types and strategies
• Cheap options commissions

Cons

• Advanced platform could intimidate new traders
• No demo or paper trading

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 Customers

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Best For

Bank of America Customers

N/A

1 Minute Review

Merrill Edge is the discount brokerage wing of Merrill Lynch, who now operates under the umbrella of Bank of America. Bank of America customers get unique perks with Merrill Edge thanks to its fully-integrated system. Customers can jump back and forth between brokerage and banking services instantly and perform tasks like transferring money and paying bills.

Merrill Edge doesn’t provide access to advanced derivatives like futures and forex, but stocks, ETFs, mutual funds, options and fixed income securities can still be traded in a variety of accounts and vehicles. Additionally, Merrill Edge earns high marks for its research and customer service, although the asset class selection and mobile trading features aren’t as dynamic as some competitors.

Best For

• Retirement savers
• Bank of America customers
• Beginner traders and new investors

Pros

• Free research from reputable sources
• Powerful Merrill Edge MarketPro platform
• Bank of America customers can easily link accounts

Cons

• Limited derivatives trading
• No OTC stocks

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

Best For

Multi-Asset Traders

Pairs Offered

140+

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More Details

Disclosure: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits on some products.

Account Minimum

$0

Pairs Offered

140+

1 Minute Review

Saxo lets traders trade on a high-performing platform with access to over 70,000+ financial products, plus everything needed to make an informed decision about putting plans into action. At Saxo, you navigate market turns via curated investment themes, expert market commentary, alerts to your phone, charting tools and in-depth webinars.

Best For

• Serious forex traders
• Investors seeking a one-stop-shop for standard and derivative investments
• Inquisitive learners

Pros

• Abundant, broad, unparalleled market analysis and insight
• Investment platforms that outstrip competitors
• TradingView, MultiCharts, and more third-party tools available for free
• Unique analytics tools, like Thought Starters, offering exclusive trading approaches
• Several platforms fit for beginning investors to day traders
• Over 190 currency pairs, some majors include: EUR/USD, USD/JPY, GBP/USD
• Average execution speed of 0.013 seconds* on market orders
• Minimum spreads from 0.7 pips

Cons

• Not available to U.S. & Canadian forex traders
• High minimum deposit

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

The post Best Interactive Brokers Alternatives in October 2025 by Ryan Peterson appeared first on Benzinga. Visit Benzinga to get more great content like this.