How We Selected The Best Interactive Brokers Alternatives
Choosing alternatives to Interactive Brokers (IBKR) isn’t about finding a single “winner” — it’s about matching tools to trader profiles. For this guide I weighed five practical criteria that matter to active and long-term investors alike: global market coverage (how many exchanges and instruments a broker offers), total cost of ownership (commissions, spreads, FX markups and hidden fees), regulatory footprint and client protection, platform quality (execution, charting, API), and real-world support (customer service and localized tax/reporting features). Each candidate was scored on these axes and checked for meaningful differentiators — for example, true multi-currency custody versus FX-on-trade workarounds, or a platform that supports institutional order types versus consumer-friendly fractional shares. Where possible I cross-checked broker claims against vendor pages and independent reviews to ensure recommendations reflect current features.
8 Best Interactive Brokers Alternatives For 2025
Below you’ll find concise dossiers — what each broker does best, the typical user who’ll benefit, and the main tradeoffs to watch. Think of this as a decision shortcut: the “why” up front, the “how” in the follow-up sections.
1. Saxo Bank — Best For Global Market Access
Saxo’s core strength is breadth. It advertises access to tens of thousands of instruments across dozens of exchanges and markets — equities, global bonds, structured products, FX and derivatives — from a single custody and margin model. That makes it a natural alternative for portfolio managers and internationally minded investors who need deep local exchange access without multiple local accounts. Expect a professional-grade platform, institutional-grade data feeds, and pricing that reflects premium execution; it isn’t always the cheapest option for very small retail accounts, but it’s hard to beat for sheer market coverage.
2. eToro — Best For Social And Multi-Asset Trading
eToro flipped the script by combining trading with social features: copy-trading, community insights and a simple fractional-share model that lets retail users buy slices of large-cap stocks and ETFs. For casual global investors who value ease-of-entry and want exposure to international names with tiny capital, eToro’s fractional offerings and social discovery make portfolio construction effortless. Be aware: some advanced order types, deep institutional liquidity, and margin features are more limited compared with IBKR.
3. IG — Best For Advanced Charting And Derivatives
IG is widely known for derivatives and a feature-rich web platform that includes multi-frame charting, advanced order protections, and a suite of risk tools. It’s a strong pick if you trade CFDs, forex or need an intuitive charting experience baked into your broker (rather than integrating a third-party charting subscription). IG balances professional tooling with a consumer-friendly interface and decent global coverage for derivatives traders. If you rely on exchange-traded stock access at ultra-low fees, compare fees carefully. (IG)
4. DEGIRO — Best For Low-Cost European Stock Trading
DEGIRO built its reputation on dramatically lower per-trade costs for European and U.S. equities. For buy-and-hold retail investors in the EEA who prioritize commissions over bells and whistles, DEGIRO’s fee schedule is transparent and frequently cheaper than full-service incumbents. The tradeoff: fewer fancy order types, a simpler user interface, and limited margin/derivatives capabilities compared with IBKR or Saxo. If your strategy is cost-conscious long-term equity accumulation across European listings, DEGIRO is hard to beat on price.
5. Fidelity — Best For U.S. Investors Seeking International Exposure
Fidelity pairs a user-friendly platform and deep research library with growing international access via ADRs, international mutual funds and expanded global share offerings. For U.S.-based investors who want straightforward integration with tax reporting and retirement accounts, Fidelity is a practical alternative — especially for those who value research and client service over raw access to every niche exchange. For traders who need exotic markets, pair Fidelity with a second broker.
6. TradeStation — Best For Active And Professional Traders
TradeStation is engineered for active traders: advanced backtesting, robust desktop software, fast executions and a mature API for algo strategies. If you live in the order book — scalping, automated systems, or frequent options spreads — TradeStation’s tools are purpose-built and competitively priced for heavy-volume accounts. It’s a less obvious fit if you need broad international custody, but for execution and strategy testing it’s a heavyweight.
7. tastytrade — Best For Low-Cost Options And Futures
tastytrade’s model is options-first: simple pricing, an educational ecosystem built by traders, and a modern platform that favors options strategies and futures. For retail traders focused on options — spreads, iron condors, or directional short-term trades — tastytrade provides focused tooling and community learning. If equities in distant exchanges are the goal, combine tastytrade with a multi-exchange broker.
8. Charles Schwab — Best For Beginners With Global Ambitions
Schwab provides a very accessible entry point, strong client support, generous research, and growing international products. Its custody, SIPC insurance, and integrated guidance tools make it a safe “first broker” for long-term investors who may want to transition to more global exposure later. Schwab’s price structure and account types suit retirement savers and investors focused on total cost over decades.
Charting Platform Alternatives To Interactive Brokers
Not everyone wants their broker’s native charting. Many traders prefer specialist charting or algorithm platforms — for example: TradingView for collaborative, web-first charting and scripts; MetaTrader for forex-focused automated strategies; and standalone vendor platforms that plug into brokers via APIs. TradingView’s canvas and social-driven ideas feed make it ideal for discretionary traders and idea discovery, while MetaTrader and similar platforms remain the workhorses for automated forex and EAs. Choose a charting tool based on whether you need social features, scripting, or low-latency order execution.
U.S.-Based Broker Alternatives To Interactive Brokers
If you’re U.S.-resident or prioritize U.S. tax/reporting simplicity, brokers like Fidelity, Charles Schwab, TradeStation, and tastytrade cover most investor needs: retail and retirement accounts, strong local compliance, and a mix of low-cost equities, options, and mutual funds. They’re especially attractive when SIPC protection, consolidated 1099s and domestic customer support are a priority; the downside is that none match IBKR’s raw breadth of direct exchange access in every global market. Pick a U.S. broker when regulatory clarity and tax integration are top priorities.
European Broker Alternatives To Interactive Brokers
European traders often trade with brokers optimized for the EEA — Saxo, DEGIRO, and local banks offer regulated access to regional exchanges, EUR-denominated custody, and localized tax statements. Saxo stands out for institutional-grade global access; DEGIRO for cost-conscious retail investors. Consider local regulation (ESMA rules), account currency options, and how dividends and withholding taxes are handled across borders. If you plan to hold international equities long-term, watch for custody and dividend processing rules that vary by broker and country.
Why Choosing The Right Broker Matters For Global Traders
Your broker shapes three invisible but critical aspects of your performance: execution quality (slippage and fills), true cost (commissions + FX + data + inactivity), and operational hygiene (tax reports, corporate actions, custody). A platform that looks cheap on a per-trade basis can become expensive through FX markups, market-data fees, or slow transfers. Conversely, a premium platform can save time and errors for complex multi-exchange strategies. Match the broker to the strategy: deep global exposure needs custody breadth; high-frequency strategies need speed and tight spreads; long-term buy-and-hold needs low all-in costs and reliable corporate action handling.
Trustpilot Ratings And User Reviews
Online reviews are a thermometer, not a diagnosis. Trustpilot and similar platforms reveal user experience trends — onboarding friction, support responsiveness, and localized issues — but they’re biased toward people who had an extreme (good or bad) experience. Use reviews to spot red flags (systemic outages, enforcement actions, or withdrawal complaints), then validate with official regulator pages and recent press. A consistent, moderate rating with transparent fee disclosure usually beats a broker with a perfect score but sparse documentation. (Pro tip: skim recent reviews for execution and withdrawal experiences rather than a single five-star or one-star anecdote.)
Which Interactive Brokers Alternative Is Right For You?
Quick decision grid:
- You need the widest direct market access → Saxo Bank.
- You want social discovery and fractional shares → eToro.
- You trade derivatives and want built-in charting → IG.
- You’re cost-sensitive in Europe → DEGIRO.
- You prefer U.S. custodial simplicity and research → Fidelity / Charles Schwab. (Investopedia)
Bottom Line — Finding The Right Global Trading Platform
There’s no one-size-fits-all substitute for Interactive Brokers. The right alternative depends on whether you prioritize raw global exchange access, low per-trade cost, institutional-grade tools, or ease-of-use and social features. Saxo maps closely to IBKR for global breadth; DEGIRO wins on retail price in Europe; eToro opens fractional and social entry points; IG and TradeStation serve derivatives and active traders. Start by listing the three features you can’t compromise on (markets, cost, or tooling), then short-list two brokers and run a small pilot account for a month — that hands-on test will reveal the operational gaps no spec sheet shows.
Frequently Asked Questions (FAQ)
Below are additional short practical answers to common follow-ups.
Can I keep my international exposure without IBKR?
Yes — by combining a broker with broad exchange access (Saxo or a similar global broker) or pairing a U.S. broker for domestic needs with a European/Asia specialist for local market access.
How do foreign withholding taxes work on dividends?
Withholding rates depend on the country where the dividend originates and your tax residency; many brokers automate withholding but require correct tax residency documentation (W-8BEN for U.S. withholding, for example). Consult a tax advisor for cross-border tax planning.
Which broker has the lowest FX fees?
It varies. Brokers that offer multi-currency accounts and transparent FX tables tend to be cheaper overall; compare sample conversion on the broker’s price page and include the spread in your math.
Are fractional shares available for global stocks?
Some brokers (notably eToro and several U.S. brokers) support fractional shares for major markets; for many international listings fractionalization is limited — check the instrument-level details.
How long does a broker-to-broker transfer take?
Domestic transfers can take several business days (ACATS transfers often 3–7 days); international transfers may take longer depending on custodial processes and will sometimes require manual reconciliation.