Interactive Brokers Alternatives

Saxo is the best overall Interactive Brokers alternative for experienced investors outside the United States. It is the closest substitute for Interactive Brokers because it combines global stock and ETF access with bonds, futures, listed options, forex and professional trading tools.

For US investors, Fidelity is the best mainstream Interactive Brokers alternative if you want simpler pricing, strong research and better access to support without giving up stocks, ETFs, options and fixed income.

The best choice changes if you are leaving Interactive Brokers for a specific reason:

Interactive Brokers remains unusually difficult to replace completely. IBKR provides access to stocks, options, futures, currencies, bonds, funds and other products across around 160 global markets, serving clients in more than 200 countries and territories. Most competitors improve one or two aspects of the experience by sacrificing some of that breadth.

1. Saxo: Best Overall Interactive Brokers Alternative

Saxo makes the strongest replacement because it competes with Interactive Brokers on the attribute that most retail brokers cannot match: breadth.

Saxo currently advertises access to more than 23,000 stocks across 50+ exchanges, more than 7,400 ETFs across 30+ exchanges, 250+ futures, 5,200+ government and corporate bonds and 3,100+ listed options.

That makes Saxo a much better substitute for an IBKR power user than a mobile-first stock app.

Why choose Saxo instead of Interactive Brokers?

Choose Saxo if you want:

• A broad portfolio covering equities, ETFs, bonds, forex, futures and options
• A more polished interface than Interactive Brokers Trader Workstation
• Professional research and trading tools
• International market access from one account
• A broker aimed at serious investors rather than purely beginner investors

Saxo's weakness is cost.

Indicative stock pricing starts from around $1 on US stocks, while pricing varies by residency and account tier. Saxo also states that custody fees may apply in some jurisdictions, so investors should check their local Saxo entity rather than assuming the global headline price applies to them.

Verdict: If you like what Interactive Brokers can do but dislike how Interactive Brokers makes you do it, Saxo is the first alternative to investigate.

2. Fidelity: Best Interactive Brokers Alternative for US Investors

Fidelity charges $0 commissions for online US stock and ETF trades. Online options trades cost $0.65 per contract, and Fidelity provides access to stocks, ETFs, options, mutual funds, bonds and CDs. Fidelity also advertises 24/7 access to support by phone or chat.

Fidelity is particularly compelling for investors who found Interactive Brokers unnecessarily complicated.

The trade-off is that Fidelity is not a true global replacement for IBKR. Interactive Brokers is built around multi-market, multi-currency professional trading. Fidelity is strongest as a US investment platform.

Fidelity vs Interactive Brokers

Choose Fidelity if your portfolio is mainly US stocks, ETFs, funds and bonds and you value research, retirement accounts and support.

Choose Interactive Brokers if you routinely trade international exchanges, currencies, futures or use substantial margin.

That final point matters financially. Interactive Brokers currently publishes a 5.13% USD margin rate for the first $100,000 of an IBKR Pro margin loan. Fidelity's published rate for a $50,000 to $99,999 debit balance is 10.375%.

At those published rates, a constant $50,000 margin balance would create a difference of roughly $2,622.50 per year in interest before compounding or rate changes.

If margin is central to your strategy, switching from Interactive Brokers simply because another broker offers "$0 trades" can be a false economy.

3. Trading 212: Best Alternative if Interactive Brokers Is Too Complicated

Trading 212's Invest account charges:

Trading 212 Invest cost	Current charge
Trading commission	Free
Custody fee	Free
FX fee	0.15%

Taxes, exchange charges and other third-party costs can still apply.

Trading 212 also supports multiple account currencies, which can reduce repeated currency conversions when buying foreign securities.

This is not a product-for-product Interactive Brokers replacement.

It is a better alternative for somebody whose actual requirement is:

"I want to buy stocks and ETFs without operating something that feels like professional trading software."

That distinction matters.

Interactive Brokers is designed to support sophisticated multi-asset workflows. Trading 212 strips much of that complexity away.

Who should choose Trading 212?

Trading 212 makes sense for:

• Buy-and-hold stock investors
• ETF investors
• Fractional-share investors
• People making regular investments
• Users who prioritise mobile UX and simplicity

Trading 212 currently accepts customers across a range of markets including the UK, much of the European Economic Area, Australia and selected countries elsewhere. Availability depends on residence.

Verdict: Trading 212 is a better user experience for simple investing, but it is not a better broker than IBKR for sophisticated multi-asset trading.

4. DEGIRO: Best Interactive Brokers Alternative for European ETF Investors

DEGIRO provides access to more than 45 exchanges across 30 countries. Its pricing remains particularly attractive for ETF investors.

DEGIRO's current ETF Core Selection includes more than 1,000 ETFs, ETCs and ETNs available through Tradegate for a €1 handling fee per trade. The previous fair-use restriction has also been removed from the new Core Selection.

Outside the Core Selection, DEGIRO's costs vary by market. On its Irish pricing schedule, for example:

• US shares cost €1 commission plus €1 handling per trade
• Euronext Dublin shares cost €2 commission plus €1 handling
• Worldwide ETFs cost €2 commission plus €1 handling
• Core Selection ETFs cost €0 commission plus €1 handling

Currency conversion, connectivity and external product costs can also apply.

DEGIRO vs Interactive Brokers

DEGIRO is the better fit when you want low-cost European stock and ETF investing without IBKR's learning curve.

Interactive Brokers remains stronger when you need serious options, futures, currency trading, professional order types or genuinely global market coverage.

Verdict: For a European investor buying UCITS ETFs every month, DEGIRO may be a more sensible tool than Interactive Brokers. For a multi-asset trader, it usually is not.

5. tastytrade: Best Interactive Brokers Alternative for Options Traders

The platform is explicitly built around active derivatives trading rather than trying to be everything to everyone.

Current tastytrade pricing includes:

Exchange, clearing and regulatory fees can still apply.

The $10 per-leg cap is the interesting part for larger options orders.

Ten option contracts cost the same $10 opening commission as 50 contracts on a single leg, before applicable external fees. That fee structure creates a very different cost curve from a purely per-contract broker.

tastytrade vs Interactive Brokers

Choose tastytrade if:

• Options are your main market
• You value options-specific workflow and risk visualisation
• You regularly trade multi-leg strategies
• You also trade futures

Stay with Interactive Brokers if:

• You need large-scale international market access
• Foreign equities are important
• FX conversion costs matter
• You require IBKR APIs or sophisticated global execution

Verdict: tastytrade is a specialist alternative. It can be better than IBKR for the derivatives workflow without being a better all-round broker.

6. Charles Schwab: Best for US Traders Who Want thinkorswim

Schwab's current online pricing includes $0 commissions for listed stocks and ETFs, $0 base commission plus $0.65 per contract for options, and $2.25 per contract for futures and futures options.

The real reason to consider Schwab, however, is thinkorswim.

Schwab combines thinkorswim with paper trading, a dedicated trade desk and a physical branch network. That combination targets a different weakness in the Interactive Brokers proposition: some experienced traders want serious software without giving up accessible human support.

The economics become less attractive if you rely heavily on margin or futures. IBKR currently lists US futures commissions as low as $0.25 to $0.85 per contract depending on pricing structure and volume, materially below Schwab's standard $2.25 figure before additional fees.

Verdict: Schwab is a compelling IBKR alternative for US active traders who value thinkorswim and service more than absolute cost efficiency.

7. eToro: Best Interactive Brokers Alternative for Copy Trading

eToro's CopyTrader system lets users select another investor and automatically replicate that investor's portfolio allocations and future trades. CopyTrader itself does not carry an additional copying charge, although normal spreads and transaction costs can still apply.

That functionality makes eToro fundamentally different from Interactive Brokers.

IBKR gives traders infrastructure and expects them to make their own decisions.

eToro adds a discovery and social layer around other investors.

Current eToro pricing varies materially by country. ETFs carry zero eToro commission, while stock trades may cost $1 or $2 when opening and closing depending on residence and exchange. Currency conversion and withdrawal charges can also vary according to account currency and location.

Verdict: Choose eToro for CopyTrader and an easier consumer experience. Do not choose it expecting a direct substitute for IBKR's institutional-style market access.

Is There Actually a Better Broker Than Interactive Brokers?

Interactive Brokers still has three structural advantages that most alternatives struggle to combine:

1. International access. IBKR operates across roughly 160 global markets and supports clients in more than 200 countries and territories.
2. Multi-asset breadth. Stocks, ETFs, options, futures, currencies, bonds and funds can sit inside the same ecosystem.
3. Low financing and FX costs. IBKR Pro currently starts at benchmark plus 1.5% for the first USD margin tier, while spot FX commissions begin at 0.20 basis points of trade value subject to a $2 minimum.

That is why looking for "the cheapest Interactive Brokers alternative" is often the wrong comparison.

A broker advertising free stock trades could cost considerably more once currency conversion, margin interest, market data, withdrawal fees and execution costs are included.

Which Interactive Brokers Alternative Should You Choose?

Your problem with Interactive Brokers	Best alternative to investigate
TWS and the overall interface are too complicated	Trading 212
You want similar product breadth outside the US	Saxo
You are a US long-term investor	Fidelity
You mainly buy ETFs in Europe	DEGIRO
You mainly trade options	tastytrade
You want thinkorswim and stronger human support	Charles Schwab
You want copy trading	eToro
Your priority is cheap margin	Stay with Interactive Brokers unless another requirement outweighs the cost
Your priority is cheap multi-currency trading	Interactive Brokers remains extremely difficult to beat
You want a second broker for operational diversification	Choose a genuinely different broker appropriate to your jurisdiction rather than replacing IBKR automatically

The last case is worth separating from switching.

Recent discussions among Interactive Brokers users show some investors are searching for alternatives because they want assets spread across more than one brokerage rather than because they dislike IBKR itself. In that situation, the correct answer may be to keep Interactive Brokers and add a second broker, not migrate the whole portfolio.

Is Saxo Better Than Interactive Brokers?

Saxo is the stronger choice when the complexity of IBKR is getting in the way of actually managing your portfolio.

Interactive Brokers is the stronger choice when low margin rates, foreign exchange costs, APIs, order functionality or maximum market coverage matter more than interface polish.

For an experienced non-US investor seeking the nearest direct competitor to IBKR, Saxo is the best starting point.

Is Trading 212 Better Than Interactive Brokers?

Trading 212's commission-free Invest account and 0.15% FX charge make its fee model much easier to understand.

Interactive Brokers offers considerably greater product breadth and professional trading functionality.

The two brokers therefore serve overlapping customers, but they do not solve exactly the same problem.

Is DEGIRO Better Than Interactive Brokers?

DEGIRO's €1 Core Selection ETF trades are easy to understand and attractive for recurring ETF purchases.

IBKR becomes more compelling as soon as the portfolio requires multiple currencies, derivatives, margin or markets outside the investor's core region.

What Is the Cheapest Alternative to Interactive Brokers?

Trading 212 can be cheaper for commission-free stock and ETF transactions.

DEGIRO can be extremely inexpensive for qualifying European ETF trades.

tastytrade's capped options commissions can become attractive for larger options legs.

But Interactive Brokers can still be cheaper once foreign exchange or margin borrowing enters the calculation.

Compare the total cost of your actual trading pattern, not the broker's headline commission.

Final Verdict: What Is the Best Interactive Brokers Alternative?

Fidelity is the best Interactive Brokers alternative for most US investors who do not require IBKR's international trading depth.

For everyone else, choose based on the specific feature you are trying to improve:

• Trading 212 for simplicity
• DEGIRO for European ETF investing
• tastytrade for options and futures
• Charles Schwab for thinkorswim and US brokerage support
• eToro for social and copy trading

Do not switch brokers merely because Interactive Brokers feels complicated.

First identify what you are actually giving up. For investors who actively use IBKR's global markets, low-cost currency conversion or margin financing, the best Interactive Brokers alternative may still be Interactive Brokers plus a second specialist broker, rather than a full replacement.

Broker fees, products, eligibility and investor protections vary by country and can change. This comparison concerns brokerage platforms and is not personalised investment advice.