Choosing Between the Best Brokerage Accounts

Written By: Ehsan Jahandarpour

best brokerage accounts

When choosing between the best brokerage accounts, you should consider your needs. You may want to have low commission accounts like Robinhood or invest in an active trader platform. If you prefer tax-deferred accounts, you can choose Vanguard. Interactive Brokers’ platform offers premium active trader features and a tax-deferred account.

Interactive Brokers offers a premium active trader platform

Trader Workstation is Interactive Brokers’ flagship trading platform, supporting global asset trading. It’s not meant for novice investors, but it’s a great choice for experienced traders. The platform features charting tools, real-time streaming data, and research. It also has mobile functionality. Premium news subscriptions are available for users.

Traders can access more than seven thousand equities through this platform, a much more diverse offering than most large international brokers. In addition, it supports four cryptocurrencies, including Bitcoin Cash. The company offers several educational resources in a variety of formats, including articles and podcasts. Traders will also appreciate the company’s in-depth research tools.

The platform comes with low commissions and a number of features. It recently added support for cryptocurrency trading. Fees are 0.12% to 0.18% of the value of each trade. No additional markups or spreads are required to trade cryptocurrency. Interactive Brokers also recently replaced WebTrader with a new client portal. Traders should be aware that these changes may affect their experience.

Another advantage of using Interactive Brokers is its range of options contracts. Users can choose from domestic and international options. The cost of these contracts is a fraction of what most competitors charge. But investors should be aware that these fees can add up quickly, especially if they’re carrying large margin balances.

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