Skip to content

Interactive Brokers vs. Tradovate – A Detailed Comparison

Discover our detailed comparison of Interactive Brokers and Tradovate to help determine which is best for you. Whether you’re a seasoned trader or just starting out, choosing the right platform can significantly impact your trading experience. 

To make your research easier, we manually found key data for Interactive Brokers and Tradovate across the internet and compiled it all in this article. 

Overview of Interactive Brokers

Interactive Brokers (IBKR) is a well-established brokerage firm founded in 1978, known for providing advanced trading and investing services to a diverse clientele, including individual investors, institutions, and professional traders. IBKR offers competitive pricing for options and futures, but lacks when it comes to charting and ease of use.

Overview of Tradovate

Tradovate is a futures trading brokerage platform with competitive pricing and trading tools. You can buy commission plans to reduce your commission rates and trade micro contracts for less than a few hundred dollars. It also has decent charting tools with advanced indicators like the volume profile, but I would still prefer TradingView’s charting.

Key Characteristics of Interactive Brokers and Tradovate

FeatureInteractive BrokersTradovate
Platform TypeBrokerage PlatformFutures Brokerage Platform
Tradeable AssetsStocks, ETFs, Mutual Funds, Options, Futures, Futures Options, Crypto, BondsFutures, Futures Options, Forex
Charting FeaturesDownloadable desktop platforms, web platform, mobile appCharting platform with subscription fee including volume and market profile
DataMust buy real-time dataReal-time data with funded account
Premium PricingNo premium features$99 per month or $1,499 lifetime for reduced commissions

Who is Interactive Brokers Best For?

Interactive Brokers is best for advanced traders who prefer to automate their trading strategies. IBKR is far from beginner-friendly, as the platforms are advanced and require some technical knowledge to utilize effectively. If you are looking for a modern, easy-to-use investing platform, IBKR is not your best option.

Who is Tradovate Best For?

Tradovate is best for those looking to trade futures with low commissions, especially if you trade enough to justify a monthly fee to lower your rates. However, Tradovate is primarily only for futures, so it is not for those looking to branch out into other assets like stocks and ETFs.

Trading Features and Tools

FeatureInteractive BrokersTradovate
DRIPYes, but with feesNo equity
Margin TradingYesYes
InsuranceSIPC InsuredNot insured
Mobile AppYesYes

Trading Costs and Commissions Compared

Fee TypeInteractive BrokersTradovate
Equity CommissionFreeNo equity
Option Commission$0.65 per contractNo equity options
Futures Commission$0.85 per contract, $0.25 micro$1.29 per contract, $0.35 micro
Futures Options Commission$0.85 per contract, $0.25 microNot specified, likely the same as regular futures
Option Exercise FeeNoneNone

Interactive Brokers vs Tradovate – Bottom Line

Choosing between Interactive Brokers and Tradovate depends on your specific trading needs, preferred trading tools, and the type of assets you’re interested in. 

Both platforms offer distinct advantages, but by considering the detailed comparison above, you can select the one that aligns best with your trading strategy and goals.

For more detailed reviews and comparisons, continue exploring our other articles on brokerage platform comparisons.

What is the Overall Best Charting Software?

I have reviewed and used nearly every trading platform available, and I believe that TradingView is the best overall charting software available. Here are some reasons why:

  • All of TradingView’s key features are free to use
  • TradingView provides real-time data for free whenever possible
  • You are not tied to a single broker and can use whichever you want while charting on TradingView
  • You can track all markets on a single platform, including stocks, ETFs, crypto, forex, and futures.
  • TradingView has an excellent economic calendar and various screeners

If you sign up for a TradingView account using my affiliate link, you can get a 30-day free trial of its premium features plus a $15 credit toward your subscription. However, signing up for a free trial is not required, and you can use nearly all of its features with a basic free account. You can read my full review of TradingView to learn more. 

Related Trading Platform Comparisons


ETrade vs Finviz

Schwab vs TC2000

Interactive Brokers vs Ninjatrader

StockCharts vs thinkorswim

Schwab vs StockCharts

Recent Posts

tradingview logo

Join over 50 million traders who trust TradingView!

Technical Analysis
tradingview logo

Join over 50 million traders who trust TradingView!

×

Get Our Stocks & Options 101 eBook for FREE!

Learn How To:
– Craft a stock portfolio
– Leverage options trading
– Build financial freedom