Comparison of Interactive Brokers vs TradeStation [ 2024 ]

The best brokers to invest in cryptocurrencies compared by their commissions, cryptos, security and much more. Here is theInteractive Brokers vs TradeStation comparison!

Your expert: Alejandro Borja

Interactive Brokers

Your expert: Xavier Tarrasó

TradeStation

Main points

Fees

Low 4,4/5

Regulated

SEC, FCA

Demo account

Yes

Low 4,2/5

Fees

FINRA, SEC

Regulated

Yes

Demo account

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Buy and hold

Comparison of fees

Rating

4.6 – Interactive Brokers charges low commissions (0.12% to 0.18% of trade value) with no added spreads or custody fees, making it one of the most cost-effective options for serious traders .

3.9 – TradeStation charges competitive volume-based fees starting at $2 + 0.65% for small trades. The complex fee structure and $10 monthly inactivity fee are notable drawbacks .

Level

Low 4,4/5

Low 4,2/5

Brief explanation

Interactive Brokers offers a competitive and transparent commission structure for cryptocurrency trading. The commission rates range from 0.12% to 0.18% of the trade value, with a minimum fee of $1.75 per order, capped at 1% of the trade value. This fee structure is notably lower than many competitors, who may charge up to 2.00% or include additional spreads and markups. Trading cryptocurrencies on Interactive Brokers’ platform does not incur any added spreads, markups, or custody fees. This is facilitated through their partnerships with Paxos Trust Company and Zero Hash LLC, both of which are regulated entities, ensuring a secure trading environment. Furthermore, clients can trade cryptocurrencies 24/7 when funds are transferred to their dedicated Paxos or Zero Hash account during normal US banking hours.

TradeStation charges competitive fees for cryptocurrency trading, though there are some costs to be aware of. Trading commissions are based on a tiered structure, starting at 0.30% per trade for monthly volumes up to $100,000 and decreasing to 0.20% for volumes above $1 million. This makes TradeStation suitable for both small and large traders. Additionally, there is a spread markup, which is the difference between the bid and ask prices, typically ranging from 0.5% to 1%. The platform also charges an inactivity fee of $50 if there is no trading activity for 12 months, and wire transfer withdrawal fees are $25 for US clients and $35 for international clients. These fees can add up, especially for infrequent traders. Despite these costs, TradeStation’s comprehensive tools and security measures can justify the expenses for those who prioritize advanced trading capabilities and regulatory compliance.

Interactive Brokers

Year Founded: Established in 1978, Interactive Brokers has a long history of providing reliable and innovative trading solutions.
Security Methods: The platform uses top-tier security measures, including two-factor authentication and encryption, ensuring the safety of client assets and data.
Number of Users: Interactive Brokers boasts a large user base, serving over 1.6 million clients globally, which speaks to its reliability and popularity.
Regulation: The firm is regulated by major financial authorities, including the SEC, FINRA, and several international regulators, ensuring compliance with stringent financial laws.
Trading Volume and Liquidity: Interactive Brokers handles a high volume of trades daily, providing deep liquidity, which is crucial for effective trading execution and minimal slippage.

TradeStation

Year Founded: Established in 1982, TradeStation has a long track record of stability and innovation in the brokerage industry.
Security Methods: TradeStation employs robust security measures, including two-factor authentication and encryption, to protect user data and assets.
Regulation and Licensing: TradeStation is regulated by top-tier US authorities such as the SEC and FINRA, ensuring compliance with strict financial standards.
Reputation and Reviews: TradeStation has consistently received positive reviews from users and industry experts for its advanced trading tools and comprehensive platform.
Transparency: As a subsidiary of Monex Group, a publicly listed company, TradeStation maintains a high level of transparency by regularly publishing financial statements and complying with rigorous disclosure requirements.

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Account Minimum

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Direct link to the website

Product selection

Native token

Interactive Brokers does not have a native token.

TradeStation does not have a native token.

Earns

Interactive Brokers does not offer staking or similar earning options for cryptocurrencies. The platform allows trading and holding of cryptocurrencies .

TradeStation does not provide staking or earning options with cryptocurrencies. The platform allows direct trading of certain cryptocurrencies .

NFT marketplace

Interactive Brokers does not have an NFT marketplace.

TradeStation does not have an NFT marketplace.

Cripto/debit card

Interactive Brokers offers an IBKR debit card for US residents as part of their Integrated Investment Management accounts .

TradeStation does not have a card for its clients .

Payment methods

Transfers

Yes, Interactive Brokers accepts bank transfers for both deposits and withdrawals .

Yes, TradeStation accepts bank transfers for both deposits and withdrawals .

Mastercard

No, Interactive Brokers does not accept Mastercard for deposits.

No, TradeStation does not accept Mastercard for deposits.

Wire transfer

Wise is not mentioned as a supported payment method .

Card

No, Interactive Brokers does not accept credit/debit cards .

No, TradeStation does not accept credit/debit cards .

Comparative table

Interactive Brokers	Features	TradeStation
Interactive Brokers offers a low minimum trade amount, making it accessible for both small and large investors. This encourages new traders to start without significant capital.	Minimum Trade	TradeStation allows for low minimum trades, making it accessible for beginners.
The platform’s fees are among the lowest in the industry, which is a major advantage for frequent traders.	Trading and Transaction Fees	Fees are higher than some competitors, especially for withdrawals.
Currently, only eight cryptocurrencies are available, which limits options for traders looking for a diverse portfolio.	Number of Cryptocurrencies	Only offers Bitcoin, Ethereum, and USD Coin.
The platform offers limited crypto-to-crypto pairs, which restricts trading strategies for users looking to trade beyond major cryptocurrencies.	Crypto-to-Crypto Trading Pairs	Limited to major coins, restricting diversification opportunities.
Interactive Brokers provides clear and comprehensive information about their services and fees. However, the site could be more intuitive for beginners.	Website Transparency	TradeStation provides clear and detailed information about its services and fees.
Interactive Brokers offers an IBKR debit card for US residents as part of their Integrated Investment Management accounts .	Credit/Debit Card	TradeStation does not have a card for its clients .
The platform offers secure storage solutions through partnerships with regulated entities, ensuring the safety of users’ digital assets.	Storage Offering	Utilizes secure storage solutions with BitGo for crypto assets.
Interactive Brokers does not currently offer staking or rewards programs, which could be a drawback for users looking for passive income opportunities.	Staking and Rewards	No staking or rewards programs available.
The mobile and desktop platforms are highly rated for their functionality and user-friendly design, catering to both novice and experienced traders.	Mobile App and Desktop	Both platforms are user-friendly and feature-rich, but the mobile app has fewer features.
The customer service is generally responsive and helpful. However, the complex account setup process can be a barrier for new users.	Customer Service	Customer service is decent but has room for improvement in response times and support quality.
The platform provides efficient deposit and withdrawal processes with multiple options, although there is room for improvement in speeding up withdrawal times.	Deposit and Withdraw	Limited methods and high fees for withdrawals, making it less user-friendly.

Key features

Analysis tools

Interactive Brokers offers the Trader Workstation (TWS) platform, which includes powerful trading tools and advanced charting capabilities. They also provide comprehensive market data and analysis tools .

TradeStation provides a powerful desktop trading platform with customizable sophisticated analysis tools, custom charts, and a detailed order book for crypto trading. They also offer mobile app trading with improved charting capabilities .

Mobile APP

Yes, Interactive Brokers offers the IBKR Mobile app for iOS and Android devices, providing comprehensive trading tools and account management features .

Yes, TradeStation offers a mobile app that includes advanced charting, trading, and analysis tools .

Security

Interactive Brokers is regulated by top-tier US authorities like the SEC and FINRA, providing a high level of security and transparency. They offer SIPC insurance, protecting clients’ securities up to $500,000, including a $250,000 cash limit.

TradeStation is regulated by the SEC and FINRA, providing high investor protection levels. They offer SIPC insurance but do not provide negative balance protection. Their parent company is publicly listed, enhancing transparency.

Additional features

Interactive Brokers allows clients to trade cryptocurrencies through Paxos or Zero Hash, offering a low commission rate of 0.12% to 0.18% of the trade value. They support a variety of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, and provide advanced trading tools through their Trader Workstation platform. Interactive Brokers also offer features like holding USD in crypto accounts and 24/7 trading .

TradeStation offers direct cryptocurrency trading for a limited selection of coins, including Bitcoin, Ethereum, and USD Coin. Their platform includes advanced features like strategy development and technical analysis through the TradeStation Master Class. They also support crypto trading in IRAs and provide competitive volume-based fees. However, their crypto offerings have decreased in recent years .

Anonymity

Anonymous accounts are not available. Interactive Brokers requires detailed personal information and identity verification .

Anonymous accounts are not supported on TradeStation. Personal and financial information along with verification documents are required.

Key points

Available cryptocurrencies

Interactive Brokers allows both direct trading and CFDs for cryptocurrencies. The available cryptocurrencies for direct trading are Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC). Additional coins are available through CFDs.

TradeStation offers trading in a few cryptocurrencies. The supported cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC) .

User-friendliness

Interactive Brokers integrates cryptocurrency trading into its existing platform, allowing users to trade crypto alongside other asset classes. The platform offers low commissions and a professional-grade trading environment. However, the setup process might be more complex compared to dedicated crypto exchanges, which could be a drawback for less experienced users .

TradeStation provides a powerful and intuitive platform for trading cryptocurrencies. The platform is designed to cater to both novice and experienced traders, with a range of tools and features that enhance the trading experience. While the selection of cryptocurrencies is limited, the platform’s overall usability and support make it a solid choice for crypto trading.

Value for money

Interactive Brokers is known for its low commissions and transparent pricing, making it a cost-effective choice for crypto trading. Its professional-grade trading tools add significant value, though the platform might be too complex for beginners.

TradeStation offers good value with competitive volume-based fees and a range of trading tools. Its inactivity fee of $10 per month and the administrative fee for IRAs might be less attractive for occasional traders.

Countries of operation

United States, Canada, United Kingdom, Ireland, Hungary, Australia, India, Japan, Hong Kong, Singapore .

United States, available to most other countries except restricted regions like North Korea and Sudan .

Best for

Interactive Brokers is ideal for professional and experienced traders who want to trade cryptocurrencies alongside other asset classes. Its low commissions and professional-grade trading tools make it a strong choice for serious investors.

TradeStation is suited for experienced traders who value advanced trading tools and direct access to crypto trading. Its detailed order book and professional-grade platform make it ideal for those who want to trade and analyze cryptocurrencies deeply.

Account

Trading

Interactive Brokers offers limited direct cryptocurrency trading but provides access to crypto-related financial products. It is more focused on traditional investment products, making it less ideal for pure crypto trading.

TradeStation offers a limited selection of cryptocurrencies but provides a powerful trading platform with advanced tools and features. It is suitable for traders who want to integrate crypto trading with other financial products.

Deposit and withdrawal

Interactive Brokers allows deposits and withdrawals via bank transfers and wire transfers. The process is secure but can be slower, especially for international transfers. Fees may apply for withdrawals.

TradeStation supports deposits and withdrawals primarily via bank transfers. While the process is secure, it can be slower and more expensive compared to other brokers, with fees for wire transfers.

Account opening process

The account opening process at Interactive Brokers is detailed and thorough. Users must provide extensive personal and financial information, and submit various verification documents. The process is fully digital but can take a few days for approval due to the comprehensive requirements.

Opening an account with TradeStation is fully digital and user-friendly. Users need to provide personal and financial information and submit verification documents. The process usually takes one to two business days for approval.

KYC required?

Yes, KYC is required at Interactive Brokers. The account opening process includes submitting personal identification documents and proof of address.

TradeStation requires KYC verification. Users need to provide personal identification documents and proof of address before they can start trading.

Customer Service

Interactive Brokers provides customer support via phone, email, and live chat. The support is available 24/5 and is generally responsive, though some users find the service to be slower during peak times due to high demand.

TradeStation provides customer support via phone, email, and live chat. The support is available during market hours and is generally responsive, though some users find the service to be slower during peak times.

Security

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I highly recommend Interactive Brokers for those interested in integrating cryptocurrency trading with traditional financial instruments. The platform offers competitive fees, robust security, and seamless integration with other asset classes, making it an excellent choice for experienced traders looking to diversify their portfolios. While the account setup process can be complex, the advanced trading features and reliable customer support make it worth the effort. If you’re seeking a secure and cost-effective way to trade cryptocurrencies, Interactive Brokers is a solid option.

Xavier Tarrasó

As an expert in the crypto market, I find TradeStation to be a solid platform for those who prioritize security and advanced trading tools. While its cryptocurrency offerings are limited to Bitcoin, Ethereum, and USD Coin, the platform excels in providing a highly regulated environment and robust trading features. TradeStation’s user-friendly interface and comprehensive educational resources make it a suitable choice for both seasoned traders and those looking to gain deeper insights into crypto trading. However, the high withdrawal fees and limited deposit options are areas that could be improved to enhance the overall user experience.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Comparison of Interactive Brokers vs TradeStation [ 2024 ]

Interactive Brokers

TradeStation

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Interactive Brokers

TradeStation

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Interactive Brokers and TradeStation