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Interactive Brokers vs TradeStation 2025

StockBrokers.com

Written by StockBrokers.com

March 11, 2025

In this head to head comparison of Interactive Brokers vs TradeStation, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

Interactive Brokers
5/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.65
TradeStation
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.60

Range of investments

Interactive Brokers and TradeStation are popular online brokers offering diverse investment options, yet key differences exist between them. Interactive Brokers stands out with its top ranking from StockBrokers.com for its range of investments, boasting a full 5-star rating. It supports a wide variety of investment options including stocks, margin and futures trading, forex, cryptocurrencies, mutual funds, and options trading. In comparison, TradeStation is also well-regarded with a 4.5-star rating and a fifth-place ranking for its investment range, but it lacks some features like fractional shares and cryptocurrency trading, which Interactive Brokers offers.

For stock traders, both Interactive Brokers and TradeStation offer comprehensive stock trading services, including the ability to trade on margin. Interactive Brokers extends its appeal with fractional share trading, allowing investors to purchase portions of shares rather than needing to acquire whole shares—a feature not available with TradeStation. Furthermore, both brokers provide access to OTC stocks and mutual funds, ensuring a broad selection for diversified trading strategies.

Both platforms facilitate options and futures trading, but they differ when it comes to forex and crypto investments. Interactive Brokers gives users access to forex trading, whereas TradeStation does not offer this feature. When it comes to cryptocurrencies, only Interactive Brokers provides access, with the ability to trade four types of coins. Retirement account offerings include traditional and Roth IRA accounts, available through both brokers. However, neither broker currently provides direct advisor services, keeping the focus on self-directed trading. Overall, Interactive Brokers offers a slightly broader range of investments, particularly in niche areas like forex and crypto.

Feature Interactive Brokers logoInteractive Brokers
TradeStation logoTradeStation
Stock Trading info Yes Yes
Margin Trading info Yes Yes
Fractional Shares info Yes No
OTC Stocks info Yes Yes
Mutual Funds info Yes Yes
Options Trading info Yes Yes
Futures Trading info Yes Yes
Crypto Trading info Yes info No
Crypto Trading - Total Coins info 4 info 0
Range of Investments 5/5 Stars 4.5/5 Stars

Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025

Trading platforms and tools

When assessing trading platforms and tools, Interactive Brokers emerges as a slightly stronger option compared to TradeStation. Interactive Brokers is acclaimed for its extensive offerings, receiving a 5-star rating for its trading platforms and tools, ranking second among 15 brokers according to StockBrokers.com. TradeStation, while highly proficient and securing a notable 4.5-star rating and third place, trails closely. Interactive Brokers' edge is attributed to its wider compatibility with Mac systems and a broader range of editable features.

Both Interactive Brokers and TradeStation offer Windows desktop and browser-based platforms. However, only Interactive Brokers provides a downloadable trading platform for Mac users, allowing Mac enthusiasts to trade seamlessly. For those interested in honing their skills without financial risks, both platforms support paper trading. A trading journal is a standout feature offered by Interactive Brokers that TradeStation lacks, which could be beneficial for those keen on tracking and assessing their trading strategies meticulously.

In terms of charting capabilities, TradeStation surpasses Interactive Brokers with 294 technical indicators compared to Interactive Brokers' 155. Nonetheless, Interactive Brokers compensates with a richer toolkit of 85 drawing tools to TradeStation's 23. Additionally, TradeStation allows for creating custom studies for charts, a feature absent in Interactive Brokers. Both platforms allow users to adjust open orders directly on stock charts and support displaying corporate events on charts. Overall, each platform has unique strengths that cater to different trading priorities, making the choice dependent on what features align best with individual user needs.

Feature Interactive Brokers logoInteractive Brokers
TradeStation logoTradeStation
Web Trading Platform info Yes Yes
Desktop Trading Platform info Yes Yes
Desktop Platform (Mac) info Yes No
Paper Trading info Yes Yes
Watch Lists - Total Fields info 659 341
Charting - Indicators / Studies info 155 294
Charting - Drawing Tools info 85 23
Platforms & Tools 5/5 Stars 4.5/5 Stars

Dive deeper: Best Online Brokerage Accounts for 2025, Best Paper Trading Platforms for 2025

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Beginners and education

When considering educational resources for beginners and investors, Interactive Brokers stands out in comparison to TradeStation. Interactive Brokers offers a wide range of educational materials, including stock, ETF, options, and mutual funds education. Additionally, it provides resources for learning about bonds. Beginners can benefit from their educational videos, webinars, and quizzes, which help reinforce learning. Interactive Brokers also offers a paper trading feature and the ability to track your learning progress, making it a comprehensive platform for those new to investing. As a testament to its offerings, Interactive Brokers is rated 5 stars for education and ranks #3 among 15 brokers according to StockBrokers.com.

In contrast, TradeStation provides stock and options education, but lacks resources for ETFs, mutual funds, and bonds. While it does offer webinars and educational videos similar to Interactive Brokers, it misses out on offering educational quizzes and the ability to track learning progress. Despite providing paper trading, TradeStation is generally seen as less comprehensive in educational offerings, receiving a 3-star rating for education and ranking #14 out of 15 brokers in StockBrokers.com's evaluations. For those prioritizing a thorough educational experience, Interactive Brokers may be the more appealing choice.

Feature Interactive Brokers logoInteractive Brokers
TradeStation logoTradeStation
Education (Stocks) info Yes Yes
Education (ETFs) info Yes No
Education (Options) info Yes Yes
Education (Mutual Funds) info Yes No
Education (Bonds) info Yes No
Paper Trading info Yes Yes
Videos info Yes Yes
Webinars info Yes Yes
Education 5/5 Stars 3/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2025

Stock trading apps

When comparing the stock trading app capabilities of Interactive Brokers and TradeStation, Interactive Brokers takes the lead with several additional features, including exclusive app availability on Apple Watch, streaming live TV, and videos on demand. This comprehensive functionality contributes to its higher rating of 5 out of 5 stars compared to TradeStation's 4.5 stars. Among 15 brokers evaluated by StockBrokers.com, Interactive Brokers is impressively ranked at #2, while TradeStation holds the #8 spot.

Both Interactive Brokers and TradeStation have developed strong mobile app platforms suitable for iPhone and Android devices, ensuring accessibility for users on the go. Both brokers provide the convenience of mobile options trading, streaming quotes, stock alerts, and the ability to create and customize watch lists. They also allow after-hours trading and charting, with Interactive Brokers offering the added benefit of viewing charts in landscape mode, a feature lacking in TradeStation's app.

In terms of charting capabilities, Interactive Brokers significantly outpaces TradeStation, offering 97 technical studies compared to TradeStation's 45. Although neither broker allows for stock comparisons on charts within their mobile apps, Interactive Brokers provides the option to view multiple time frames, aiding in in-depth analysis. For traders seeking advanced features and superior performance in a stock trading app, Interactive Brokers presents itself as the more appealing choice between the two.

Feature Interactive Brokers logoInteractive Brokers
TradeStation logoTradeStation
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info Yes No
Stock Alerts info Yes Yes
Charting - After-Hours info Yes Yes
Charting - Technical Studies info 97 45
Mobile Trading Apps 5/5 Stars 4.5/5 Stars

Dive deeper: Best Stock Trading Apps for 2025

Fees

When evaluating Interactive Brokers and TradeStation in terms of account fees and various charges, Interactive Brokers generally offers a more cost-effective approach for a range of account-related services. Both brokers have no minimum deposit requirements and allow commission-free trading on regular stock trades. However, Interactive Brokers typically has the upper hand with lower margin rates and absence of several common fees, making it potentially more appealing for budget-conscious investors.

For those interested in options trading, Interactive Brokers and TradeStation charge per options contract fees of $0.65 and $0.60, respectively. Although TradeStation slightly edges out Interactive Brokers in this category, Interactive Brokers compensates with considerably lower margin interest rates, especially for balances under $100,000. While TradeStation imposes a 13.0% rate for margin balances below $25,000, Interactive Brokers charges a notably lower 7.33%, offering significant savings for margin traders.

Additional fees further highlight the differences between the two brokers. Interactive Brokers does not charge for IRA annual or closure fees, while TradeStation charges $35.00 and $50.00, respectively. Furthermore, account transfers via ACAT are free with Interactive Brokers, whereas TradeStation charges a steep $125.00 for both partial and full transfers. Moreover, options exercise and assignment fees are absent with Interactive Brokers, compared to TradeStation's charges of $14.95 and $5.95. These variances could notably impact the overall cost profile for traders, particularly those frequently engaging in these types of transactions.

Feature Interactive Brokers logoInteractive Brokers
TradeStation logoTradeStation
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Options (Per Contract) info $0.65 $0.60
Options Exercise Fee info $0.00 $14.95
Options Assignment Fee info $0.00 $5.95
IRA Annual Fee info $0.00 $35.00
IRA Closure Fee info $0.00 $50.00

Dive deeper: Best Free Trading Platforms for 2025

Day Trading

When it comes to day trading, both Interactive Brokers and TradeStation offer strong feature sets that appeal to traders seeking comprehensive tools and analytics. Both platforms provide streaming time and sales data for stocks, which is essential for understanding real-time market movements. Traders can take advantage of direct market routing for precise order placement, use ladder trading for quick order adjustments, and employ trading hotkeys for efficient keyboard entry. Additionally, the availability of level 2 quotes and various backtesting capabilities, both basic and advanced, ensures that traders can thoroughly analyze and refine their strategies. Furthermore, both brokers offer a short locator tool enabling clients to view the availability of shares to short, along with order liquidity rebates that could potentially reduce trading costs.

Despite these similarities, Interactive Brokers edges out slightly by including streaming live TV as part of its services, keeping traders informed with the latest financial news directly within their platform—an area where TradeStation currently does not compete. This feature can be particularly advantageous for traders who rely on up-to-the-minute news and live market commentary to make informed trading decisions. Consequently, while both Interactive Brokers and TradeStation are equipped with essential tools for prompt and effective day trading, those seeking integrated live news would find Interactive Brokers to be more accommodating to their needs.

Feature Interactive Brokers logoInteractive Brokers
TradeStation logoTradeStation
Streaming Time & Sales info Yes Yes
Streaming TV info Yes No
Direct Market Routing - Stocks info Yes Yes
Level 2 Quotes - Stocks info Yes Yes
Trade Ideas - Backtesting info Yes Yes
Trade Ideas - Backtesting Adv info Yes Yes
Short Locator info Yes Yes

Dive deeper: Best Day Trading Platforms for 2025

Market Research

When comparing market research capabilities, Interactive Brokers clearly stands out with more comprehensive offerings than TradeStation. Interactive Brokers is rated five stars for market research, placing it fourth among 15 brokers according to StockBrokers.com. In contrast, TradeStation receives a two-star rating and ranks 11th, indicating a more limited scope in market research features. While both brokers provide stock and ETF research, Interactive Brokers expands its research coverage significantly, offering insights into mutual funds, bonds, and ESG factors—features that TradeStation does not support.

Interactive Brokers provides extensive research capabilities, including stock, ETF, Mutual Funds, and Bonds research, as well as unique insights using social media sentiment data and ESG research. Users can access 15 downloadable PDF research reports for stocks, along with downloadable reports for ETFs and mutual funds—a feature absent on TradeStation. Furthermore, Interactive Brokers supports a range of screeners for trade ideas across stocks, ETFs, mutual funds, and bonds, significantly broadening the tools investors can utilize.

TradeStation, while offering some basic research tools like stock and OTCBB research, lacks depth in several areas compared to Interactive Brokers. It does not cover mutual funds or bonds research and also misses out on providing ESG insights and social media sentiment data. The absence of downloadable PDF reports and ETF, mutual fund, or bond screeners further limits TradeStation's market research capability. Overall, Interactive Brokers offers a more comprehensive and versatile toolkit for investors seeking detailed market insights and research-driven decision-making.

Feature Interactive Brokers logoInteractive Brokers
TradeStation logoTradeStation
Research - Stocks info Yes Yes
Screener - Stocks info Yes Yes
Research - ETFs info Yes Yes
Screener - ETFs info Yes No
Research - Mutual Funds info Yes No
Screener - Mutual Funds info Yes No
Research - Bonds info Yes No
Screener - Bonds info Yes No
Research 5/5 Stars 2/5 Stars

Banking

When comparing the banking capabilities of Interactive Brokers and TradeStation, neither online broker offers traditional banking services like checking or savings accounts, debit or credit cards, or mortgage loans. However, Interactive Brokers does provide access to certificates of deposit (CDs), offering an option for those interested in this type of investment product. In contrast, TradeStation does not offer CDs. This difference could be a consideration for traders looking to diversify their investment options through banking products like CDs while keeping brokerage capabilities in mind.

Feature Interactive Brokers logoInteractive Brokers
TradeStation logoTradeStation
Checking Accounts info No No
Savings Accounts info No No
Debit Cards info No No
Credit Cards info No No
Mortgage Loans info No No
CDs info Yes No

Dive deeper: Best Bank Accounts for Trading Stocks for 2025

Winner

After opening live accounts and testing 15 of the best online brokers, our research and live account testing finds that Interactive Brokers is better than TradeStation. Interactive Brokers finished with an overall score of 96.9%, while TradeStation finished with a score of 80.2%.

Interactive Brokers is a go-to choice for professionals because of its institutional-grade desktop trading platform, high-quality trade executions and rock-bottom margin rates.

FAQs

Can you trade cryptocurrency with Interactive Brokers or TradeStation?

Interactive Brokers supports crypto trading with access to 4 different coins, while TradeStation currently does not offer any crypto trading options.

Dive deeper: Best Online Brokers for Crypto Trading in 2025

Does Interactive Brokers or TradeStation offer IRAs?

When comparing IRA account options, Interactive Brokers and TradeStation both offer traditional and Roth IRA accounts, but differ in fees: Interactive Brokers charges no annual fee or closure fee, while TradeStation imposes a $35 annual fee and a $50 closure fee.

Dive deeper: Best IRA Accounts for 2025

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Compare

0 of 5
Overall Rating Interactive Brokers TradeStation
Overall 5/5 Stars 4/5 Stars
Range of Investments 5/5 Stars 4.5/5 Stars
Platforms & Tools 5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 2/5 Stars
Customer Service 4/5 Stars 3.5/5 Stars
Education 5/5 Stars 3/5 Stars
Ease Of Use 5/5 Stars 4.5/5 Stars
Winner check_circle
Review Interactive Brokers Review TradeStation Review
Broker Screenshots Interactive Brokers TradeStation
Trading Platform & Tools Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Trading Fees Interactive Brokers TradeStation
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Penny Stock Fees (OTC) info $0.01 $0.01 info
Mutual Fund Trade Fee info $14.95 info $14.95
Options (Per Contract) info $0.65 $0.60
Futures (Per Contract) info $0.85 $1.50
Broker Assisted Trade Fee info Varies $25
Margin Rates Interactive Brokers TradeStation
Margin Rate Under $25,000 info 7.33% info 13.0%
Margin Rate $25,000 to $49,999.99 info 7.33% info 13.0%
Margin Rate $50,000 to $99,999.99 info 7.33% info 12.5%
Margin Rate $100,000 to $249,999.99 info 7.33% info 12.0%
Margin Rate $250,000 to $499,999.99 info 7.33% info 12.0%
Margin Rate $500,000 to $999,999.99 info 7.33% info 7.5% info
Margin Rate Above $1,000,000 info 7.33% info 7.5% info
Account Fees Interactive Brokers TradeStation
IRA Annual Fee info $0.00 $35.00
IRA Closure Fee info $0.00 $50.00
Account Transfer Out (Partial) info $0.00 $125.00
Account Transfer Out (Full) info $0.00 $125.00
Options Exercise Fee info $0.00 $14.95
Options Assignment Fee info $0.00 $5.95
Investment Options Interactive Brokers TradeStation
Stock Trading info Yes Yes
Margin Trading info Yes Yes
Fractional Shares info Yes No
OTC Stocks info Yes Yes
Options Trading info Yes Yes
Complex Options Max Legs info 6 4
Futures Trading info Yes Yes
Forex Trading info Yes No
Crypto Trading info Yes info No
Crypto Trading - Total Coins info 4 info 0
Mutual Funds (No Load) info 10988 800
Mutual Funds (Total) info 11456 4000
Bonds (US Treasury) info Yes Yes
Bonds (Corporate) info Yes Yes
Bonds (Municipal) info Yes Yes
Traditional IRAs info Yes Yes
Roth IRAs info Yes Yes
Advisor Services info No No
International Countries (Stocks) info 34 0
Order Types Interactive Brokers TradeStation
Order Type - Market info Yes Yes
Order Type - Limit info Yes Yes
Order Type - After Hours info Yes Yes
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info Yes Yes
Order Type - OCO info Yes Yes
Order Type - OTO info Yes Yes
Order Type - Broker Assisted info Yes Yes
Beginners Interactive Brokers TradeStation
Education (Stocks) info Yes Yes
Education (ETFs) info Yes No
Education (Options) info Yes Yes
Education (Mutual Funds) info Yes No
Education (Bonds) info Yes No
Education (Retirement) info Yes No
Retirement Calculator info Yes No
Investor Dictionary info Yes No
Paper Trading info Yes Yes
Videos info Yes Yes
Webinars info Yes Yes
Webinars (Archived) info Yes Yes
Progress Tracking info Yes No
Interactive Learning - Quizzes info Yes No
Stock Trading Apps Interactive Brokers TradeStation
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info Yes No
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes Yes
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes Yes
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info Yes Yes
Stock App Features Interactive Brokers TradeStation
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info Yes No
Videos on Demand info Yes No
Stock Alerts info Yes Yes
Option Chains Viewable info Yes Yes
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info Yes Yes
Watch Lists - Create & Manage info Yes Yes
Watch Lists - Column Customization info Yes Yes
Stock App Charting Interactive Brokers TradeStation
Charting - After-Hours info Yes Yes
Charting - Can Turn Horizontally info Yes No
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 97 45
Charting - Study Customizations info Yes Yes
Charting - Stock Comparisons info No No
Trading Platforms Interactive Brokers TradeStation
Active Trading Platform info Trader Workstation (TWS) TradeStation 10
Desktop Trading Platform info Yes Yes
Desktop Platform (Mac) info Yes No
Web Trading Platform info Yes Yes
Paper Trading info Yes Yes
Trade Journal info Yes No
Watch Lists - Total Fields info 659 341
Stock Chart Features Interactive Brokers TradeStation
Charting - Adjust Trades on Chart info Yes Yes
Charting - Indicators / Studies info 155 294
Charting - Drawing Tools info 85 23
Charting - Notes info Yes Yes
Charting - Index Overlays info Yes Yes
Charting - Historical Trades info Yes Yes
Charting - Corporate Events info Yes Yes
Charting - Custom Date Range info Yes Yes
Charting - Custom Time Bars info Yes Yes
Charting - Automated Analysis info Yes Yes
Charting - Save Profiles info Yes Yes
Trade Ideas - Technical Analysis info Yes Yes
Charting - Study Customizations info 6 12
Charting - Custom Studies info No Yes
Day Trading Interactive Brokers TradeStation
Streaming Time & Sales info Yes Yes
Streaming TV info Yes No
Direct Market Routing - Stocks info Yes Yes
Ladder Trading info Yes Yes
Trade Hotkeys info Yes Yes
Level 2 Quotes - Stocks info Yes Yes
Trade Ideas - Backtesting info Yes Yes
Trade Ideas - Backtesting Adv info Yes Yes
Short Locator info Yes Yes
Order Liquidity Rebates info Yes Yes
Research Overview Interactive Brokers TradeStation
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes No
Research - Pink Sheets / OTCBB info Yes Yes
Research - Bonds info Yes No
Screener - Stocks info Yes Yes
Screener - ETFs info Yes No
Screener - Mutual Funds info Yes No
Screener - Bonds info Yes No
Misc - Portfolio Allocation info Yes Yes
Stock Research Interactive Brokers TradeStation
Stock Research - PDF Reports info 15 info 0
Stock Research - Earnings info Yes No
Stock Research - Insiders info Yes No
Stock Research - Social info Yes No
Stock Research - News info Yes Yes
Stock Research - ESG info Yes No
Stock Research - SEC Filings info Yes No
ETF Research Interactive Brokers TradeStation
ETFs - Strategy Overview info Yes No
ETF Fund Facts - Inception Date info Yes No
ETF Fund Facts - Expense Ratio info Yes No
ETF Fund Facts - Net Assets info Yes No
ETF Fund Facts - Total Holdings info Yes No
ETFs - Top 10 Holdings info Yes No
ETFs - Sector Exposure info Yes No
ETFs - Risk Analysis info Yes No
ETFs - Ratings info Yes No
ETFs - Morningstar StyleMap info Yes No
ETFs - PDF Reports info Yes No
Mutual Fund Research Interactive Brokers TradeStation
Mutual Funds - Strategy Overview info Yes No
Mutual Funds - Performance Chart info Yes No
Mutual Funds - Performance Analysis info Yes No
Mutual Funds - Prospectus info Yes No
Mutual Funds - 3rd Party Ratings info Yes Yes
Mutual Funds - Fees Breakdown info Yes No
Mutual Funds - Top 10 Holdings info Yes No
Mutual Funds - Asset Allocation info Yes No
Mutual Funds - Sector Allocation info Yes No
Mutual Funds - Country Allocation info Yes No
Mutual Funds - StyleMap info Yes No
Options Trading Interactive Brokers TradeStation
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes Yes
Option Chains - Streaming info Yes Yes
Option Chains - Total Columns info 40 29
Option Chains - Greeks info 5 5
Option Chains - Quick Analysis info Yes Yes
Option Analysis - P&L Charts info Yes Yes
Option Probability Analysis info Yes Yes
Option Probability Analysis Adv info Yes Yes
Option Positions - Greeks info Yes Yes
Option Positions - Greeks Streaming info Yes Yes
Option Positions - Adv Analysis info Yes Yes
Option Positions - Rolling info Yes Yes
Option Positions - Grouping info Yes Yes
Banking Interactive Brokers TradeStation
Bank (Member FDIC) info No No
Checking Accounts info No No
Savings Accounts info No No
Credit Cards info No No
Debit Cards info No No
Mortgage Loans info No No
Customer Service Interactive Brokers TradeStation
Phone Support (Prospect Customers) info Yes Yes
Phone Support (Current Customers) info Yes Yes
Email Support info Yes Yes
Live Chat (Prospect Customers) info No Yes
Live Chat (Current Customers) info Yes Yes
24/7 Support info No No
Overall Interactive Brokers TradeStation
Overall 5/5 Stars 4/5 Stars
Range of Investments 5/5 Stars 4.5/5 Stars
Platforms & Tools 5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 2/5 Stars
Education 5/5 Stars 3/5 Stars
Ease Of Use 5/5 Stars 4.5/5 Stars
Winner check_circle
Review Interactive Brokers Review TradeStation Review
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