Interactive Brokers Alternatives

By:

Max Adams

Max was the Editor of Education for Invezz from 2019-2021, overseeing the wider investment educational strategy. He has written… read more.

Updated: Jun 28, 2022

Like many other online brokers – such as Robinhood – Interactive Brokers recently y prevented users from buying a number of stocks that had seen their value skyrocket in recent weeks. Many UK and USA account holders have been left wondering: ‘what are the best alternatives to Interactive Brokers?’ Keep reading to find out. 

Compare the best alternatives to Interactive Brokers

The table below compares a variety of Interactive Brokers alternatives. You can follow any of the links below to head straight to one of our trusted partners and buy stocks such as GME, AMC, and BB. If you need more information first, then keep reading below.

Most Popular

1

Min. Deposit

$10

Promotion

User Score

10

Trade/invest in stocks with just $10

Deposit with ACA, Wire, Pay with my bank

Invest for dividends and get payout on stocks on Ex-Dividend day

Start Trading more info

Description:

eToro is a multi-asset investment platform with more than 2000 assets, including FX, stocks, ETF’s, indices and commodities. eToro users can connect with, learn from, and copy or get copied by other users. Buying stocks on eToro is free and you can invest with as little as $50.

Payment Methods

Bank Transfer, Wire Transfer

Full regulations list:

CySEC, FCA

Investoo Ltd is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc., as applicable. This compensation incentivizes Investoo Ltd to describe those products and services in favorable terms. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.

2

Min. Deposit

$0

Promotion

User Score

9.3

$0 commission and $0 Options contract fees

Upgraded research with advanced charts

Smart Menus for faster trades

Start Trading more info

Description:

Firstrade is a leading online brokerage firm offering a full line of investment products and tools designed to help investors like you take control of your financial future. Since its founding in 1985, Firstrade has been committed to providing high value and quality services to help you reach your financial goals.

Payment Methods

Full regulations list:

3

Min. Deposit

$500

Promotion

User Score

8.7

We offer one of the best execution speeds in the industry with low latency

Award-winning support in 14 languages

Trade with precision from 0.5 pips on EURUSD

Start Trading more info

Description:

Founded in Switzerland, ActivTrades has been around since 2001, which means it has more than two decades of experience in the fintech industry. The independent brokerage house started as a small firm, but it is now a global retail and institutional broker. In 2005, ActivTrades moved its HQ to London, and it began growing rapidly through Europe. ActivTrades offers a lot of benefits to its clients, including educational tools, rewards programs, competitive spreads, and the use of MetaTrader 4 and MetaTrader 5, two industry-leading platforms.

Payment Methods

Bank Transfer, Bank Wire, Credit Card, Debit Card, PayPal, Sofort, neteller, skrill

Full regulations list:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Interactive Brokers vs other top brokers

To help you make your decision about which broker to switch to, whether you’re a UK or a USA customer, we’ve compiled three head-to-head comparisons of Interactive Brokers with alternative apps.

Interactive Brokers vs eToro

One of the most popular CFD trading platforms in the world, eToro currently allows users to buy and sell shares without restrictions. eToro is well regarded for its range of educational materials and tools – and in particular for its ‘social trading’ outlook, whereby it allows users to match their trades along with the most successful accounts on the platform.

As one of the best names in the business, eToro is a great alternative to Interactive Brokers.

Sign up for an eToro account here >

*68% 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.

Interactive Brokers vs Hargeaves Lansdown

Hargeaves Lansdown is a Bristol-based stock broker that has been running for 4 decades. Its own stock is part of the FTSE 100 index, and the platform enables users to buy and sell shares freely – including in Gamestop, Nokia, and other stocks recently targeted by the r/WallStreetBets community.

For users looking to jump ship from Interactive Brokers and trying to select between the alternatives, Hargreaves Lansdown is a solid option.

Open a Hargreaves Lansdown account today >

Interactive Brokers vs Capital.com

If you’re looking for a quick and reliable online broker that offers zero-commission trades, then Capital.com could be the perfect Interactive Brokers alternative for you. The trading app boasts an intuitive user interface and allows unrestricted trading of a host of popular assets

Capital.com hss not blocked users buying any stocks during the recent surge in retail investor activity.

Trade with Capital.com now >

How to find good alternatives to Interactive Brokers

When looking for alternatives to Interactive Brokers, you want to be sure to compare your options. There’s no use leaving one unsatisfactory broker only to sign up with another one. Consider what you’re looking for in a broker platform and find one that fits the bill – both our comparison table and in-depth reviews can help.

If you’re simply looking for a broker that will allow you to trade stocks freely, then the brokers listed on this page are all platforms that allow unrestricted trades for their users. If, however, your focus is more on the long-term, then you’ll want to look into a variety of other factors before selecting an alternative trading app.

What to look for in an alternative stock broker

• Variety of trading options. The most essential thing to look for in a broker is that it allows you to trade the assets you want to trade. This could be stocks that have seen increased interest recently – such as HCMC – or other financial products such as ETFs and forex.
• Ease of use. A broker should help you make trades, not get in your way. Make sure to look for a platform that you find easy to use among the various alternatives to Interactive Brokers.
• Low fees. Trading fees can add up fast when investing in the stock market – especially if you’re making frequent trades as the market fluctuates throughout the day. Make sure you select a broker with a reasonable fee structure.
• Account limits. Some brokers will set limits on the amount you can trade, withdraw, or buy. If you’re looking to invest a lot of money in the market, then make sure to find a broker that supports large trades.

Why would I want to find an alternative to Interactive Brokers?

The recent interest we’ve seen in people hunting for alternatives to Interactive Brokers has come out of the ongoing battle between Wall Street hedge funds and retail investors. The Reddit community WallStreetBets started targeting certain stocks that were being sold short by hedge funds in January 2021 – sending the prices of the stocks skyrocketing.

In response to this, Interactive Brokers – among other platforms – started to prevent users from buying any more of the shares that were shooting up. This caused an outcry among investors, who pointed to the fact that they were still allowed to sell their shares. Users began to accuse Interactive Brokers of engaging in market manipulation and searching for alternative platforms.