Comparison of Interactive Brokers and Tradovate
| Feature | Interactive Brokers | Tradovate |
|---|---|---|
| Broker | ||
| Year Founded | 1977 | 2015 |
| Broker Type | DMA | DMA |
| Dealing | A-book | A-book |
| Execution | Market | Market |
| Regulation | SEC, FINRA, FCA, CBI, CIRO, ASIC, SFC, SEBI, JFSA, MAS | NFA, CFTC |
| Platforms | Trader Workstation (TWS), IBKR Mobile, Client Portal, IBKR GlobalTrader, FXTrader | Tradovate, NinjaTrader, TradingView |
| Spread | ⬊ Low | ⬊ Low |
| Maximum Leverage | 1:50 | 1:100 |
| Minimum Deposit | $1 | $1 |
| Base Currencies | USD, EUR, GBP, AUD, CAD, CHF, JPY, HKD, SGD, SEK, NOK, DKK, NZD, PLN, HUF, CZK, MXN, ZAR, TRY, ILS, KRW, CNH, AED, SAR, MYR, TWD | USD, EUR, GBP, CAD, AUD |
| Funding Methods | Bank Wire, ACH, SEPA/Bank Transfer, Check, Wise/Instarem, Online Bill Pay | ACH, Wire Transfer, Debit/Credit Card, Checks |
| Inactivity Fee | ✖ | ✖ |
| Interest on Margin | ✔ | ✖ |
| Withdrawal Fee | First withdrawal each month free; subsequent bank wires ~ $10 | ACH free; $30 domestic wire |
| Investor Protection | SIPC, FSCS, ICS | - |
| Protection Size | $500 000 / £85 000 | - |
| Segregated Accounts | ✔ | ✔ |
| Negative Balance Protection | ✔ | ✖ |
| Guaranteed Stop Loss | ✖ | ✖ |
| Copy Trading | ✖ | ✖ |
| VPS | ✖ | ✖ |
| MAM/PAMM | ✖ | ✖ |
| Scalping Allowed | ✔ | ✔ |
| EAs/Robots | ✔ | ✔ |
| Depth of Market (DOM) | ✔ | ✔ |
| Tradable Assets (CFDs) | Stocks, ETFs, Options, Futures, Forex, Bonds, Mutual Funds, Cryptocurrencies, Commodities, CFDs | Futures (Indices, Commodities, Currencies, Metals, Energies, Bonds, Cryptocurrencies) |
| Review | Interactive Brokers Review | Tradovate Review |
About Interactive Brokers
Interactive Brokers (IBKR) is a global multi-asset broker founded in 1977. Regulated on four continents, IBKR offers direct market access to 150+ exchanges in 33 countries, tight pricing on FX, and some of the lowest commissions in the industry. Clients trade via the powerful Trader Workstation, streamlined Client Portal, or mobile apps, choose from 20+ base currencies, and benefit from SIPC/FSCS investor protection and ESMA-mandated negative balance protection for CFDs.
Pros
- Tier-1 regulation in the US, UK, EU, Canada, Australia, Asia
- Access to 150+ markets across 33 countries and 26 currencies
- Ultra-low spreads and volume-based commissions
- Advanced Trader Workstation plus simple mobile & web platforms
- No minimum deposit for cash accounts and no inactivity fee
- Negative balance protection for EU retail CFD traders
Cons
- Minimum FX order size ~ 20 000 units limits small accounts
- Trader Workstation has a steep learning curve
- No credit/debit-card funding options
- Customer support is not 24/7
About Tradovate
Tradovate is a US based futures broker launched in 2015. The cloud native platform lets you trade 100+ Micro, Mini and Nano contracts from any device with no account minimum and commission options starting at $0.09 per side. Regulated by the NFA/CFTC, Tradovate offers low intraday margins, advanced order flow tools and seamless integration with NinjaTrader and TradingView.
Pros
- No minimum funding requirement
- Commission‑free or ultra‑low‑fee pricing models
- Native cloud platform with 40+ futures tools
- Low day‑trade margins (from $50)
- Regulated in the US with segregated client funds
Cons
- Futures only - no stocks, ETFs or spot FX
- No investor compensation scheme
- Wire withdrawals cost $30 after two free ACH withdrawals
Interactive Brokers & Tradovate Regulation
| Feature | Interactive Brokers | Tradovate |
|---|---|---|
Companies | Interactive Brokers LLC, Interactive Brokers (U.K.) Ltd, Interactive Brokers Ireland Ltd, Interactive Brokers Canada Inc., Interactive Brokers Australia Pty Ltd, Interactive Brokers Hong Kong Ltd, Interactive Brokers India Pvt. Ltd, Interactive Brokers Securities Japan Inc, Interactive Brokers Singapore Pte. Ltd | Tradovate LLC |
Countries | United States, United Kingdom, Ireland, Canada, Australia | United States |
Regulators | SEC, FINRA, FCA, CBI, CIRO, ASIC, SFC, SEBI, JFSA, MAS | NFA, CFTC |
Investor Protection | SIPC, FSCS, ICS | - |
Investor Protection Size | $500 000 / £85 000 | - |
Publicly Traded | ||
Segregated Accounts | ||
Guaranteed Stop Loss | ||
Negative Balance Protection |
Companies
Interactive Brokers
Interactive Brokers LLC, Interactive Brokers (U.K.) Ltd, Interactive Brokers Ireland Ltd, Interactive Brokers Canada Inc., Interactive Brokers Australia Pty Ltd, Interactive Brokers Hong Kong Ltd, Interactive Brokers India Pvt. Ltd, Interactive Brokers Securities Japan Inc, Interactive Brokers Singapore Pte. Ltd
Tradovate
Tradovate LLC
Countries
Interactive Brokers
United States, United Kingdom, Ireland, Canada, Australia
Tradovate
United States
Regulators
Interactive Brokers
SEC, FINRA, FCA, CBI, CIRO, ASIC, SFC, SEBI, JFSA, MAS
Tradovate
NFA, CFTC
Investor Protection
Interactive Brokers
SIPC, FSCS, ICS
Tradovate
-
Investor Protection Size
Interactive Brokers
$500 000 / £85 000
Tradovate
-
Publicly Traded
Interactive Brokers
Tradovate
Segregated Accounts
Interactive Brokers
Tradovate
Guaranteed Stop Loss
Interactive Brokers
Tradovate
Negative Balance Protection
Interactive Brokers
Tradovate
Account Types
| Account | Interactive Brokers | Tradovate |
|---|---|---|
DMA Account | ||
| Account Name | IBKR Pro | Futures Account |
| Min Deposit | $0 | $1 |
| Lot Size | 0.01 | 1 |
| Spread Type | Floating | Floating |
| Execution | Market | Market |
| Min Spread | 0.1 | 0.1 |
| Fee | $4 per 1 lot | $0.78 per 1 lot |
| Max Leverage | 1:50 | 1:100 |
| Stop Out | 50% | 100% |
| Margin Call | 100% | 100% |
| Additional Features | ||
| Demo Account | ||
| VIP Account | ||
| Swap-Free Account | ||
| Copy Trading | ||
| VPS | ||
| PAMM/MAM Accounts | ||
DMA Account
Account Name
Interactive Brokers
IBKR Pro
Tradovate
Futures Account
Min Deposit
Interactive Brokers
$0
Tradovate
$1
Lot Size
Interactive Brokers
0.01
Tradovate
1
Spread Type
Interactive Brokers
Floating
Tradovate
Floating
Execution
Interactive Brokers
Market
Tradovate
Market
Min Spread
Interactive Brokers
0.1
Tradovate
0.1
Fee
Interactive Brokers
$4 per 1 lot
Tradovate
$0.78 per 1 lot
Max Leverage
Interactive Brokers
1:50
Tradovate
1:100
Stop Out
Interactive Brokers
50%
Tradovate
100%
Margin Call
Interactive Brokers
100%
Tradovate
100%
Additional Features
Demo Account
Interactive Brokers
Tradovate
VIP Account
Interactive Brokers
Tradovate
Swap-Free Account
Interactive Brokers
Tradovate
Copy Trading
Interactive Brokers
Tradovate
VPS
Interactive Brokers
Tradovate
PAMM/MAM Accounts
Interactive Brokers
Tradovate
Funding and Fees
| Feature | Interactive Brokers | Tradovate |
|---|---|---|
Base currencies | USD, EUR, GBP, AUD, CAD, CHF, JPY, HKD, SGD, SEK, NOK, DKK, NZD, PLN, HUF, CZK, MXN, ZAR, TRY, ILS, KRW, CNH, AED, SAR, MYR, TWD | USD, EUR, GBP, CAD, AUD |
Deposit and withdrawal methods | Bank Wire, ACH, SEPA/Bank Transfer, Check, Wise/Instarem, Online Bill Pay | ACH, Wire Transfer, Debit/Credit Card, Checks |
Inactivity fee | ||
Interest on margin | ||
Withdrawal fee | First withdrawal each month free; subsequent bank wires ~ $10 | ACH free; $30 domestic wire |
Base currencies
Interactive Brokers
USD, EUR, GBP, AUD, CAD, CHF, JPY, HKD, SGD, SEK, NOK, DKK, NZD, PLN, HUF, CZK, MXN, ZAR, TRY, ILS, KRW, CNH, AED, SAR, MYR, TWD
Tradovate
USD, EUR, GBP, CAD, AUD
Deposit and withdrawal methods
Interactive Brokers
Bank Wire, ACH, SEPA/Bank Transfer, Check, Wise/Instarem, Online Bill Pay
Tradovate
ACH, Wire Transfer, Debit/Credit Card, Checks
Inactivity fee
Interactive Brokers
Tradovate
Interest on margin
Interactive Brokers
Tradovate
Withdrawal fee
Interactive Brokers
First withdrawal each month free; subsequent bank wires ~ $10
Tradovate
ACH free; $30 domestic wire
Trading Platforms and Conditions
| Feature | Interactive Brokers | Tradovate |
|---|---|---|
Trading Platforms | Trader Workstation (TWS), IBKR Mobile, Client Portal, IBKR GlobalTrader, FXTrader | Tradovate, NinjaTrader, TradingView |
Execution Speed | 4 ms | 10 ms |
Scalping | ||
Expert Advisors (EAs) | ||
Depth of Market (DOM) | ||
Spread | low | low |
Trading Platforms
Interactive Brokers
Trader Workstation (TWS), IBKR Mobile, Client Portal, IBKR GlobalTrader, FXTrader
Tradovate
Tradovate, NinjaTrader, TradingView
Execution Speed
Interactive Brokers
4 ms
Tradovate
10 ms
Scalping
Interactive Brokers
Tradovate
Expert Advisors (EAs)
Interactive Brokers
Tradovate
Depth of Market (DOM)
Interactive Brokers
Tradovate
Spread
Interactive Brokers
low
Tradovate
low
Trading Assets
| Asset | Interactive Brokers | Tradovate |
|---|---|---|
Currencies | 87 | 14 |
Indices | 23 | 15 |
Stocks | 8139 | 0 |
Cryptocurrencies | 11 | 6 |
Bonds | 87 | 6 |
Metals | 4 | 4 |
Energies | 10 | 5 |
Soft Commodities | 15 | 8 |
ETFs | 532 | 0 |
Currencies
Interactive Brokers
87
Tradovate
14
Indices
Interactive Brokers
23
Tradovate
15
Stocks
Interactive Brokers
8139
Tradovate
0
Cryptocurrencies
Interactive Brokers
11
Tradovate
6
Bonds
Interactive Brokers
87
Tradovate
6
Metals
Interactive Brokers
4
Tradovate
4
Energies
Interactive Brokers
10
Tradovate
5
Soft Commodities
Interactive Brokers
15
Tradovate
8
ETFs
Interactive Brokers
532
Tradovate
0
Education and Analytics
| Feature | Interactive Brokers | Tradovate |
|---|---|---|
Economic Calendar | ||
Indicators | ||
Robots | ||
Signals | ||
Autochartist | ||
Expert Analytics | ||
News Feed | ||
Education Articles | ||
Webinars | ||
Seminars |
Economic Calendar
Interactive Brokers
Tradovate
Indicators
Interactive Brokers
Tradovate
Robots
Interactive Brokers
Tradovate
Signals
Interactive Brokers
Tradovate
Autochartist
Interactive Brokers
Tradovate
Expert Analytics
Interactive Brokers
Tradovate
News Feed
Interactive Brokers
Tradovate
Education Articles
Interactive Brokers
Tradovate
Webinars
Interactive Brokers
Tradovate
Seminars
Interactive Brokers
Tradovate
Customer Support
| Contact | Interactive Brokers | Tradovate |
|---|---|---|
Email | help@interactivebrokers.com | support@tradovate.com |
Phone | +18774422757 | +18442833100 |
Facebook | ||
LinkedIn | ||
YouTube | YouTube | YouTube |
Instagram | — | |
Twitter |
Email
Interactive Brokers
Tradovate
Phone
Interactive Brokers
Tradovate
Instagram
Interactive Brokers
Tradovate
—
Which Broker is Better?
After comparing Interactive Brokers and Tradovate, Interactive Brokers comes out ahead as our overall pick. It ranks higher in our internal scoring and delivers a stronger balance of pricing (spreads/fees), platform experience, and product range. That said, the runner-up may still be a better fit if you prioritize specific needs—like a particular account type, funding method, or niche instruments. This is not financial advice; always choose a broker that matches your goals and local regulatory requirements.
More Comparisons
Andriy Bondarenko
Broker Analyst
Andriy is a seasoned expert in broker reviews with over a decade of experience in finance and trading. Under his leadership, the team produces in-depth and unbiased analyses of leading trading platforms.