The post Best Interactive Brokers Alternatives in April 2025 by Jordan Robertson appeared first on Benzinga. Visit Benzinga to get more great content like this.
Jump straight to it: The best alternative to Interactive Brokers is moomoo, which is offering up to 15 free stocks with a qualified deposit for new customers, as well as a massive 8.1% APY on idle cash for a limited time. That’s all on top of other benefits like commission-free options trading.
If you’re looking for an alternative to Interactive Brokers, you can find several options. Interactive Brokers is a brokerage platform that offers a wide range of investment options, including stocks, bonds, exchange-traded funds (ETFs) and mutual funds. You might be looking for an alternative because of higher fees, limited trading tools or a need for more educational resources. In this article, Benzinga explores seven Interactive Brokers alternatives and their pros and cons to help you make an informed decision.
Table of contents
[Show]
8 Best Alternatives to Interactive Brokers
Whether it’s fees, platform usability or customer service, these Interactive Brokers alternatives offer unique advantages that may better suit individual preferences and requirements.
1. Best Overall: Plus500
get started
securely through Plus500’s
website
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
- Great mobile app
- Low spreads and commissions
- Unlimited demo account
- Only derivatives are available
- Not open to U.S. residents
Plus500 is one of the most recognized names in CFD trading in Europe, offering access to over 2,800 instruments across forex, indices, stocks, commodities, ETFs, cryptocurrencies, and options (availability varies by jurisdiction). Founded in 2008, the company operates globally but does not accept US traders for CFDs, though futures trading is available for US clients.
With its proprietary WebTrader platform, Plus500 keeps things simple yet functional. It’s perfect for traders who want an easy to use platform without being overwhelmed by excessive features and options. The platform is fully regulated across multiple jurisdictions, including oversight from the UK’s Financial Conduct Authority (FCA), making it a trustworthy option for global traders.
While the tight spreads and commission-free trading make Plus500 attractive, it does have some trade-offs. There’s no MetaTrader 4 (MT4) integration and no support for other third-party tools day traders may find useful. But for both beginners and frequent mobile traders who prefer a streamlined trading experience with guaranteed stop losses and negative balance protection, Plus500 remains a solid choice.
Why We Love 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 Trading Ideas: Public.com
get started
securely through public.com’s
website
Public is the only investing platform that lets you trade stocks, ETFs, crypto, bonds, options and alternative assets—like fine art and collectibles—all in one place. Public also provides access to custom company metrics, live shows about the markets, and insights from a community of millions of investors, creators, and analysts.
Today, Public provides more ways to create a diversified portfolio than nearly any other online broker. Members can engage in sophisticated investing strategies and access a wealth of investing insights—from company-specific analysis to live audio shows and town hall-style Q&As. In addition, Public offers a premium membership tier with unique company KPIs, detailed performance metrics, and institutional-grade research.
Best For
- Stock and ETF investors
- Crypto investors
- Investors looking to diversify with alternative assets or bonds and options
- Commission-free stock and ETF trading
- Fractional share investing
- Advanced data, tools, and insights with Public Premium
- You can’t transfer crypto to another wallet
- No mutual funds or precious metals
- At this time, only offers individual brokerage accounts and not IRAs
With no commissions and no account minimum, Public.com is the only investing platform that lets you buy, sell and hold stocks and ETFs, crypto and alternative assets like art. Themed investing can help you get on a track that fits with your goals. Plus, you can learn quite a lot about investing on the site if you’re new to this space. Customer care is available 24/7, and you can grow your portfolio or step aside for professional investors who can also consolidate their portfolios into one space.
Why We Love It: Public.com makes it possible for anyone to invest, beginners or professionals, meaning that you can work at your own pace and make money without feeling overwhelmed.
3. Best for Traders of All Levels: Moomoo
get started
securely through Moomoo’s
website
Investing is a long-term journey, and moomoo can help guide investors of all levels every step of the way. Utilized by over 21 million users worldwide – including in the US, Singapore, Australia, Japan, Malaysia and Canada – moomoo is an investment and trading platform that empowers investors with pro-grade, easy-to-use tools, data and insights.
moomoo provides advanced charting tools, technical analytics and Level 2 data for funded accounts, so investors have the resources to make more informed investment decisions. Users can access educational materials and interactive events, as well as share and learn through the inline community.
With a low-cost, competitive fee structure, moomoo can work for all investors.
Best For
- Novices
- Intermediate and advanced traders
- Active traders
- Equity and index options trading
- Commission free trading for US options, stocks and ETFs and 6.8% margin rate
- Wealth of free options tools and features, including customizable options chain, options calculator, unusual options activity, implied volatility analysis, 13 options strategies and 0 days to expiration (0DTE) options by volume
- Free Level 2 data for funded accounts
- Advanced charting tools with 100+ indicators, 37+ drawing tools and 20 candle patterns
- No minimum deposit to open an account
- 24/7 online chat support
- 5.1% APY in Cash Sweep program for new and qualified users
- Does not support crypto
- Does not support retirement accounts or mutual funds
Moomoo is an intuitive investment and trading platform with easy-to-use and professional tools, data and insights that equal a pro-level trading experience for all traders, no matter their level of expertise.
When you open a brokerage account with Moomoo Financial Inc, features will include:
- Real-time Level 2 stock and options market data for funded accounts
- Advanced technical indicators
- Unique charting tools
- Advanced options orders
- Full extended trading hours from 4 AM to 8 PM EST
- Multi-market quoting
- Low fees, $0 commission on U.S. Stocks and ETFs plus $0 on equity options contract fees
- 4.1% APY in the Cash sweep program and a 4.0% boost for qualified customers
Users can reach out to the Moomoo customer support team by phone during trading hours or via email. FAQs in the Help Center can also answer specific questions.
Why We Love It: Moomoo’s mobile app is user-friendly and provides a seamless trading experience, while the broker also supports trading in U.S., Hong Kong and Chinese markets, offering global investment opportunities.
4. Best for Forex Traders: FOREX.com
get started
securely through FOREX.com’s
website
The products and services available to you will depend on your country of residence and the FOREX.com entity that holds your account, as well as any as well as any applicable regulatory guidelines. To verify the availability of any products or features within your country of residence, please contact the broker directly
FOREX.com is a highly trusted global broker for forex and CFD traders. With a massive range of tradable currencies, low account minimums and an impressive trading platform, FOREX.com is an excellent choice for traders searching for a home base for their currency trading. New traders and seasoned veterans alike will love FOREX.com’s extensive education and research center that provides free, informative forex trading courses at multiple skill levels.
FOREX.com is regulated by Commodity Futures Trading Commission (CFTC) and member of the National Futures Association (NFA) in the U.S. They also are regulated by the Financial Conduct Authority (FCA) in the UK among other regulators including CIRO, ASIC and more.
Best For
- MetaTrader 4 and 5 users
- Beginner forex traders
- Active forex traders
- Demo account
- Customizable charts with 14 time intervals and multiple time charts
- Up to 5% cash back of the initial deposit
- 80+ technical indicators
- Leverage available up to 50:1 for U.S. traders
- Exclusive trading tools including Trading Central, NinjaTrade, Smart Signals, Performance Analytics and Capitalise.ai
- Trade to your full capability with the mobile app
- Live market analysis, VPS hosting, IRA accounts, corporate accounts, RAW pricing
- EUR/USD spread as little as 0.0 and low commissions
- 30 indicators for technical analysis, nine timeframes and graphical objects such as Line Studies and Shapes on MT4
- Quality execution with one-swipe trading, real-time trade & order alerts and full account management features
- No negative balance protection for U.S. clients
- No guaranteed stop-loss orders for U.S. clients
FOREX.com offers traders competitive spreads starting from 0.8 pips, access to more than 80 currency pairs and additional markets such as commodities, indices and cryptocurrencies. You’ll have access to low account minimums and an excellent all around trading platform.
Why We Picked It: FOREX.com is an great alternative to IBKR in the forex space because they manage high volume traders especially well. They offer extremely customizable charting and technical analysis tools and ability to trade on MT4/5 and TradingView.
5. Best for Desktop Trading: E*TRADE
get started
securely through eTrade’s
website
E*TRADE is an online discount trading house that offers brokerage and banking services to individuals and businesses. One of the first brokers to embrace online trading, E*TRADE not only survived both the dot-com bubble and Recession — it thrived. You can choose from two different platforms (one basic, one advanced). E*TRADE is a suitable broker for traders of most skill levels, whether you want to buy mutual funds and hold them for decades or dabble in options swing trading. E*TRADE offers a library of research and education materials to help you out.
Best For
- Active traders
- Derivatives traders
- Retirement savers
- Sophisticated trading platforms
- Wide range of tradable assets
- Exceptional customer service
- Limited currency trading
- Higher margin rates than competitors
- No paper trading on its standard platform
E*TRADE is a brokerage platform that offers a wide range of investment options, including stocks, bonds, ETFs and mutual funds. Here are some pros and cons to consider. E*TRADE’s Power E*TRADE platform provides advanced charting, risk assessment tools and customizable screeners for active traders. The broker also stands out with its user-friendly mobile app and web interface, making it accessible for both novice and experienced investors.
Why We Love It: E*TRADE offers a comprehensive suite of trading tools and research resources. The platform offers commission-free trading for stocks, ETFs and options, with options contracts priced at $0.65 per contract.
6. Best for Beginners: Robinhood
get started
securely through Robinhood’s
website
Robinhood is a popular trading platform known for its commission-free trades and user-friendly mobile app. Ideal for novice investors, Robinhood makes it easy to buy and sell stocks, ETFs and cryptocurrencies. The platform offers a straightforward, no-frills experience, making it accessible for users new to investing. With features like fractional shares and a sleek interface, Robinhood lowers the barriers to entry for investing, allowing users to start with just a few dollars. It lacks the advanced tools and research options that more experienced investors might seek. Overall, Robinhood is a great choice for beginners seeking a simple way to invest.
Best For
- Beginners looking for simplicity
- Mobile-first investors
- Commission-free trades
- User-friendly mobile app
- Instant double
- Cash management
- Access to cryptocurrencies
- Limited research tools
- No mutual funds available
- Basic customer support options
Robinhood is a brokerage platform that offers commission-free trading for stocks, options, ETFs and cryptocurrencies. With no minimum investment requirement, it’s particularly appealing to new investors.
Why We Love It: Robinhood offers a unique feature called “fractional shares,” allowing users to invest in partial shares of expensive stocks, making it accessible for investors with limited capital to diversify their portfolios.
7. Best for Intermediate Traders and Investors: Webull
get started
securely through Webull’s
website
Webull is a commission-free trading platform designed with both beginner and advanced investors in mind. Offering an extensive range of assets like stocks, ETFs, and futures, Webull makes it easy for users to manage their investments through a highly intuitive interface. With educational resources, paper trading options, and no minimum account balance required, Webull caters to those looking to start investing without high upfront costs. The platform’s mobile app ensures that users can trade anytime, anywhere, making it a flexible choice for those with busy lifestyles. Webull’s customer service options are limited, and the platform may feel overwhelming to those completely new to investing.
Best For
- Commission-free trading
- Mobile and desktop trading
- Beginners and experienced traders alike
- No commissions on trades
- Extensive range of tradable assets
- Easy-to-use mobile app
- Limited customer service options
- Learning curve for complete beginners
Webull is a brokerage platform that offers commission-free trading for stocks, options and cryptocurrencies. Webull’s low account minimums and no-fee IRAs make it accessible to beginners, while still offering enough sophistication for more experienced traders. Additionally, Webull provides free Level 2 market data (for a limited time), which is typically a premium feature on other platforms.
Why We Love It: The Webull platform offers advanced charting tools and real-time market data, catering to both new and experienced traders looking for in-depth technical analysis capabilities.
8. Best for Stock Research: Fidelity
get started
securely through Fidelity Investments’s
website
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
- 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
- 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 brokerage platform that offers a wide range of investment options, including stocks, bonds, ETFs and mutual funds. Fidelity’s cash management account features, including free ATM withdrawals worldwide and a competitive APY, are superior to many competitors. The company is also known for its excellent customer service and 24/7 phone support.
Why We Love It: Fidelity’s competitive pricing structure, including zero-commission trades on many products, makes it an attractive option for cost-conscious investors.
How to Choose the Right Interactive Brokers Alternative
Here’s a concise list of factors to consider when choosing an Interactive Brokers alternative, with brief explanations for each:
- Fee structure: Consider commission rates, inactivity fees and other charges.
- Available markets: Check which exchanges and asset classes are accessible.
- Trading platforms: Evaluate the user interface, features and mobile app availability.
- Research and analysis tools: Assess the quality and depth of market data and analytical resources.
- Customer support: Look into responsiveness and availability of customer service.
- Account types: Ensure the broker offers the account types you need (e.g., individual, joint, IRA).
- Minimum deposit requirements: Compare initial funding requirements across brokers.
- Margin trading options: If applicable, examine margin rates and borrowing limits.
- Order types and execution: Verify the availability of various order types and execution quality.
- Regulatory compliance: Confirm the broker is properly regulated in your jurisdiction.
Final Thoughts on the Best Alternative to Interactive Brokers
Several Interactive Brokers alternatives are available that offer a wide range of investment options and features. E*TRADE, Robinhood, Webull and Fidelity are brokerage platforms that you may want to consider. Each of these alternatives has its pros and cons, so it’s important to do your research and evaluate your needs before choosing a broker. Consider factors such as fees, investment options, educational resources and trading tools before making a decision. With the right research, you can find a broker that meets your investment needs and preferences.
Frequently Asked Questions
Do any alternatives to Interactive Brokers offer robo-advisor services?
Yes, brokers like E*TRADE offers robo-advisor services for investors who prefer a hands-off approach to investing.
Answer Link
What alternative to Interactive Brokers is popular among beginner investors?
Robinhood is popular among beginner investors due to its user-friendly interface, commission-free trading and easy-to-understand platform.
Answer Link
Are there any alternatives to Interactive Brokers with low account minimums?
Robinhood and Webull are two alternatives to Interactive Brokers that have low or no account minimums, making them accessible to all types of investors.
Answer Link
The post Best Interactive Brokers Alternatives in April 2025 by Jordan Robertson appeared first on Benzinga. Visit Benzinga to get more great content like this.