Best Interactive Brokers Alternatives for 2023

What Interactive Brokers Does Not Offer and Alternatives For Each

When trading having a broker you can rely on is essential. If Interactive Brokers does not match your requirements we explain the top Interactive Brokers alternatives and Interactive Brokers competitors in this guide. The best alternative for Interactive Brokers is IC Markets or Roboforex.

When searching for a Interactive Brokers alternative, there are a few things you need to check. The Interactive Brokers trading platform alternative you decide upon needs features and trading fees that match your investment strategies and trading requirements. We offer a detailed list and examination of the top Interactive Brokers alternatives and competitors feature by feature further below this Interactive Brokers alternatives guide. If you are looking for a trading platform that offers similar features to Interactive Brokers or Interactive Brokers. Or if you are looking for features that Interactive Brokers does not offer that you require when trading, we will show you the best Interactive Brokers alternative options below.

We highlight the pros and cons of each Interactive Brokers alternative. Maybe you are looking for better customer service from a Interactive Brokers alternative or more competitive Interactive Brokers fees and more financial instruments to trade.

We have listed some reasons why Interactive Brokers may not be the best broker for you. But don't worry. We have compiled a list of the best alternatives below.

• Interactive Brokers does not offer negative balance protection (See Interactive Brokers alternatives who offer negative balance protection here)
• Interactive Brokers does not offer Guaranteed Stop Loss (See Interactive Brokers alternatives who offer Guaranteed Stop Loss here)
• Interactive Brokers does not offer MT4 (See Interactive Brokers alternatives offering the MT4 trading platform here)
• MT5 is not offered by Interactive Brokers (find Interactive Brokers alternatives that offer the MT5 trading platform here)
• cTrader is not offered by Interactive Brokers (find Interactive Brokers alternatives offering the cTrader trading platform here)
• Interactive Brokers does not offer Micro accounts (Check here for Interactive Brokers alternatives offering micro accounts)
• Interactive Brokers does not offer Islamic accounts (Check here for Interactive Brokers alternatives offering Islamic accounts)
• Interactive Brokers have inactivity fees (See Interactive Brokers alternatives who don’t have inactivity fees here)

Top Interactive Brokers Alternative is IC Markets

Rating	★★★☆☆ 3/5	★★★★☆ 4/5	★★★★☆ 4/5
💻 Trading Platforms	Web Trader, NinjaTrader, Tablet & Mobile apps	MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android	MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps
📋 Instruments Available	100	2250	100
📈 Stocks Offerd		2100	0
💎 Cryptocurrency	No	Yes	No
💹 Forex Pairs	10	61	35
📈 Commodities	0	20	21
💰 Min Deposit	10000	200	10
👱‍♂️ Used By	10,000+ users	180,000+ users	1,000,000+ users
📆 Founded	1977	2007	2009
👮‍♂️ Regulation	Financial Conduct Authority (FCA)	Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)	RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund
🌍 HQ	United States	Australia	Belize
🚫 Excluded Countries	US	US, IR, CA, NZ, JP	AU, BE, BQ, BR, CA, CW, CZ, DE, ES, EU, FM, FR, GW, ID, IR, JP, LR, MP, NL, PF, RU, SE, SJ, SS, TL, TR, US
Risk Warning	Losses can exceed deposits	Losses can exceed deposits	Losses can exceed deposits

If you want to see a more indepth feature by feature Interactive Brokers alternative comparison, you can scroll further down here.

Interactive Brokers Alternatives List

IC Markets

★★★★☆ (4/5)

Min deposit : 200

Visit IC Markets Read review

IC Markets was established in 2007 and is used by over 180000+ registered users. Losses can exceed deposits IC Markets offers Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. Cryptocurrency availability with IC Markets is subject to regulation.

Regulated by Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)

Roboforex

★★★★☆ (4/5)

Min deposit : 10

Visit Roboforex Read review

Roboforex was established in 2009 and is used by over 1000000+ registered users. Losses can exceed deposits Roboforex offers Forex, CFDs.

Regulated by RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund

eToro

★★★★☆ (4/5)

Min deposit : 50

Visit eToro Read review

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

eToro was established in 2007 and is used by over 30000000+ registered users. 77% of retail investor accounts lose money when trading CFDs with this provider. eToro offers Social Trading, Stocks, Commodities, Indices, Forex (Currencies), CFDs, Cryptocurrency, Exchange Traded Funds (ETF), Index Based Funds. Cryptocurrency availability with eToro is subject to regulation. Buying and selling real cryptocurrency assets may not be available in your country through eToro. Please check the latest information made available on their website.

Regulated by FCA (Financial Conduct Authority) Etoro (Europe) Limited FCA reference 523775, eToro (UK) Ltd FCA reference 583263, ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), MiFID (Markets In Financial Instruments Directive), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076

XM

★★★★☆ (4/5)

Min deposit : 5

Visit XM Read review

XM was established in 2009 and is used by over 3500000+ registered users. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.74% 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. XM offers Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, Energies CFDs.

Regulated by Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)

AvaTrade

★★★★☆ (4/5)

Min deposit : 100

Visit AvaTrade Read review

AvaTrade was established in 2006 and is used by over 300000+ registered users. 71% of retail investor accounts lose money when trading CFDs with this provider AvaTrade offers Forex, Cryptocurrencies, Commodities, Indices, Stocks, Bonds, Vanilla Options, ETFs, CFDs, Spread Betting, Social Trading . Cryptocurrency availability with AvaTrade is subject to regulation.

Regulated by Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049), Central Bank of Ireland

Pepperstone

★★★★☆ (4/5)

Min deposit : 200

Visit Pepperstone Read review

Pepperstone was established in 2010 and is used by over 400000+ registered users. 74-89 % of retail investor accounts lose money when trading CFDs Pepperstone offers Forex, CFDs, Social Trading.

Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217

XTB

★★★★☆ (4/5)

Min deposit : 0

Visit XTB Read review

XTB was established in 2002 and is used by over 581000+ registered users. 81% 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. XTB offers Forex, CFDs, Cryptocurrency. Cryptocurrency availability with XTB is subject to regulation.

Regulated by FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19)

NordFX

★★★★☆ (4/5)

Min deposit : 1

Visit NordFX Read review

NordFX was established in 2008 and is used by over 10000+ registered users. Losses can exceed deposits NordFX offers Forex.

Regulated by Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008

Trading212

★★★☆☆ (3/5)

Min deposit : 1

Visit Trading 212 Read review

Trading 212 was established in 2006 and is used by over 15000000+ registered users. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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. Trading 212 offers Stocks, Forex, Commodities, Indices.

Regulated by Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)

FP Markets

★★★★☆ (4/5)

Min deposit : 100

Visit FP Markets Read review

FP Markets was established in 2005 and is used by over 10000+ registered users. Losses can exceed deposits FP Markets offers Forex, CFDs.

Regulated by Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926)

interactive brokers alternatives
Interactive Brokers Summary

• Interactive Brokers is used by over 10,000+ registered users (Look here for Interactive Brokers alternatives that are used by more traders)
• Interactive Brokers has a minimum deposit of $10,000 (Look here for Interactive Brokers alternatives that require less minimum deposit)
• Interactive Brokers has a minimum trade requirement of None (Look here for Interactive Brokers alternatives that require a lower minimum trade)
• Interactive Brokers has a maximum deposit of None (Look here for Interactive Brokers alternatives that has a similar or greater maximum trade limit)
• Interactive Brokers has over 1 awards (Look here for Interactive Brokers alternatives with more awards)

interactive brokers alternatives
Interactive Brokers Tradable Financial Assets

• Interactive Brokers offers traders over 100 tradable instruments (Look here for Interactive Brokers alternatives offering a similar amount or more tradable instruments)
• Interactive Brokers offers over 0 shares (Look here for Interactive Brokers alternatives offering more tradable shares)
• Interactive Brokers offers US Shares (Look here for Interactive Brokers alternatives offering US Stocks and Shares)
• Interactive Brokers offers UK Shares (Look here for Interactive Brokers alternatives offering UK Stocks and shares)
• Interactive Brokers offers German Shares (Look here for Interactive Brokers alternatives offering German Stocks and shares)
• Interactive Brokers offers Japanese Shares (Look here for Interactive Brokers alternatives offering Japanese Stocks and shares)
• Interactive Brokers offer Indices trading (Look here for Interactive Brokers alternatives offering Indices trading)
• Interactive Brokers offers 0 commodities (Look here for Interactive Brokers alternatives offering more tradable commodities)
• Interactive Brokers offers trading in metals (Look here for Interactive Brokers alternatives offering metal commodities)
• Interactive Brokers offers trading in energy commodities (Look here for Interactive Brokers alternatives offering energy commodities)
• Interactive Brokers offers trading in agricultural commodities (Look here for Interactive Brokers alternatives offering agricultural commodities)
• Interactive Brokers offers trading on the Forex markets (Look here for Interactive Brokers alternatives offering Forex trading)
• Interactive Brokers offers 10 Forex Pairs (Look here for Interactive Brokers alternatives offering a similar amount or more Forex Pairs)
• Interactive Brokers offers trading with Major Forex Pairs (Look here for Interactive Brokers alternatives offering Major Forex Pairs trading)
• Interactive Brokers does not offer trading with Minor Forex Pairs (Look here for Interactive Brokers alternatives offering Minor Forex Pairs trading)
• Interactive Brokers does not offer trading with Exotic Forex Pairs (Look here for Interactive Brokers alternatives offering Exotic Forex Pairs trading)
• Interactive Brokers does not offer trading in Cryptocurrencies (Look here for Interactive Brokers alternatives offering cryptocurrency trading)
• Interactive Brokers does not offer CFD trading (Look here for Interactive Brokers alternatives offering CFD trading)
• Interactive Brokers does not offer Social Trading (Look here for Interactive Brokers alternatives offering Social Trading accounts)

interactive brokers alternatives
Interactive Brokers Trading Account Features

• ECN accounts are offered by Interactive Brokers (Look here for Interactive Brokers alternatives offering ECN accounts)
• STP accounts are offered by Interactive Brokers (Look here for Interactive Brokers alternatives offering STP accounts)
• Interactive Brokers does not offer MT4 (See Interactive Brokers alternatives offering the MT4 trading platform here)
• MT5 is not offered by Interactive Brokers (find Interactive Brokers alternatives that offer the MT5 trading platform here)
• cTrader is not offered by Interactive Brokers (find Interactive Brokers alternatives offering the cTrader trading platform here)
• Interactive Brokers does not offer Micro accounts (Check here for Interactive Brokers alternatives offering micro accounts)
• Interactive Brokers does offer VIP accounts (Check here for Interactive Brokers alternatives offering VIP accounts)
• Interactive Brokers does not offer Islamic accounts (Check here for Interactive Brokers alternatives offering Islamic accounts)
• Interactive Brokers does offer Demo accounts (Check here for Interactive Brokers alternatives offering Demo accounts)
• Interactive Brokers does not offer Spread Betting accounts (Search for Spread Betting brokers here)
• Interactive Brokers does allow Scalping (See brokers for scalping here)

interactive brokers alternatives
Interactive Brokers Risk Management Features

• Interactive Brokers does allow hedging (See brokers for Hedging here)
• Interactive Brokers does not offer negative balance protection (See Interactive Brokers alternatives who offer negative balance protection here)
• Interactive Brokers does not offer Guaranteed Stop Loss (See Interactive Brokers alternatives who offer Guaranteed Stop Loss here)
• Interactive Brokers does offer limit orders (See Interactive Brokers alternatives who offer limit orders here)
• Interactive Brokers does offer trailing stops (See Interactive Brokers alternatives who offer trailing stops here)
• Interactive Brokers does offer price alerts (See Interactive Brokers alternatives who offer price alerts here)

interactive brokers alternatives
Interactive Brokers Fees

• Interactive Brokers has inactivity fees (See Interactive Brokers alternatives who don’t have inactivity fees here)
• Interactive Brokers does not have withdrawal fees (See Interactive Brokers alternatives who don’t have withdrawal fees here)
• Interactive Brokers does not have deposit fees (See Interactive Brokers alternatives who don’t have deposit fees here)

interactive brokers alternatives
Interactive Brokers Regulation

• Interactive Brokers are regulated by the FCA (Financial Conduct Authority) (Look here for Interactive Brokers alternatives offering FCA regulated brokers)
• Interactive Brokers are not regulated by CySEC (Cyprus Securities and Exchange Commission) (Look here for Interactive Brokers alternatives offering CySEC regulated brokers)
• Interactive Brokers are not regulated by the MiFID (Markets In Financial Instruments Directive) (Look here for Interactive Brokers alternatives offering MiFID regulated brokers)
• Interactive Brokers are not regulated by the ASIC (Australian Securities and Investments Commission) (Look here for Interactive Brokers alternatives offering ASIC regulated brokers)
• Interactive Brokers are not regulated by the FSCA (Financial Sector Conduct Authority) (Look here for Interactive Brokers alternatives offering FSCA regulated brokers)
• Interactive Brokers are not regulated by the DFSA (Dubai Financial Services Authority) (Look here for Interactive Brokers alternatives offering DFSA regulated brokers)
• Interactive Brokers are not regulated by the MAS (Monetary Authority of Singapore) (Look here for Interactive Brokers alternatives offering MAS regulated brokers)
• Interactive Brokers are not regulated by the FSA (Financial Services Authority) (Look here for Interactive Brokers alternatives offering FSA regulated brokers)

interactive brokers alternatives
Interactive Brokers Desktop Computer and Mobile Device Support

• Interactive Brokers Offers an online trading platform available to all desktop and mobile devices with an internet connection. (See Interactive Brokers alternatives that offer an online trading platform here)
• Interactive Brokers does not offer a bespoke application for Microsoft Windows Desktop computers (See Interactive Brokers alternatives that support desktop Windows users here)
• Interactive Brokers does not offer a bespoke application for Apple Mac Desktop computers (See Interactive Brokers alternatives that support desktop Apple Mac users here)
• Interactive Brokers does not offer a bespoke application for mobile devices (See Interactive Brokers alternatives that support mobile device users here)
• Interactive Brokers does offer a bespoke application for IOS Devices (See Interactive Brokers alternatives for IOS users here)
• Interactive Brokers does not offer a bespoke application for Android Devices (See Interactive Brokers alternatives for Android users here)
• Interactive Brokers does offer live chat support (See Interactive Brokers alternatives that offer live chat support here)

Below is an extensive list of the best alternatives to Interactive Brokers based on our unique 256 point criteria.

Top alternative for Interactive Brokers is IC Markets

Top Pick 1 4/5 rating

IC Markets is the best alternative broker to Interactive Brokers. IC Markets has been in operation for over 12 years.

IC Markets, as a brokerage is regulated. This means IC Markets are supervised by and checked for conduct by the Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)

If Interactive Brokers or IC Markets are not what you are looking for try Roboforex.

With Interactive Brokers, Losses can exceed deposits

With IC Markets, Losses can exceed deposits

With Roboforex, 77% of retail investor accounts lose money when trading CFDs with this provider.

Top Pick 2 4/5 rating

Roboforex, as a brokerage is regulated. This means Roboforex are supervised by and checked for conduct by the RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund

Here are some of the key reasons why traders choose IC Markets and Roboforex over Interactive Brokers

	IC Markets	Roboforex	eToro
Brokerage Rating	★★★★☆ (4/5)	★★★★☆ (4/5)	★★★★☆ (4/5)
Regulator	Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)	RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund	FCA (Financial Conduct Authority) Etoro (Europe) Limited FCA reference 523775, eToro (UK) Ltd FCA reference 583263, ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), MiFID (Markets In Financial Instruments Directive), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076
Min Deposit	200	10	50
Min Trade	0.01 Lot	0.01 Lot	$10
Platforms	MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android	MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps	Web Trader, Tablet & Mobile apps
Risk Warning	Losses can exceed deposits	Losses can exceed deposits	77% of retail investor accounts lose money when trading CFDs with this provider.
	Visit IC Markets	Visit Roboforex	Visit eToro

If you want to read more about IC Markets, we have put together an in-depth IC Markets review that explores their platform, spreads, and trading conditions in more detail.

If IC Markets does not match your criteria, have a look at the 10 best Interactive Brokers alternatives below.