Interactive Brokers vs. Robinhood

If you are reading this article, you’re likely having trouble deciding whether IG Markets or Interactive Brokers is the better Forex trading platform for you. While both platforms generally provide positive user experiences, there are some essential differences to note.

In this Interactive Brokers vs. Robinhood review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:

• Features and Platforms
• Available Markets
• Typical Spreads and Fees
• Security and Trust
• Interactive Brokers vs. Robinhood - Verdict

Feature	Robinhood (visit site)	Interactive Brokers (visit site)
Headquarter:	US	US
Regulation :		SIPC, SEC, FINRA
Type of Broker:	Market Maker	Market Maker
U.S. Clients Allowed:
Minimum Deposit:	$0	$10,000, $5,000 for an IRA
Maximum Leverage:	Undisclosed	N/A
Commissions / Spreads:	Spread	Fixed, Volume Tiered
Account 1:	Instant	Standard
Account 2:	Gold
Account 3:	Cash
Account 4:	Crypto
Demo Account:
Islamic Account:
Segregated Account:
Managed Accounts:
Institutional Accounts:
Website Languages:	English	English Chinese Other
Support Hours:	Undisclosed	24/6
E-mail Support:
SMS Support:
Chat:
Broker Offers:	See what Robinhood offers	See what Interactive Brokers offers

Features and Platforms

Investors and traders seeking one of the best overall brokers will feel at home at Interactive Brokers. Formerly, this powerhouse served established traders only but opted to offer its competitive products and services to all traders. Its proprietary trading platform, which supports algorithmic trading, and the Investor’s Marketplace, home to 1,500+ services, create a distinct advantage. Robinhood principally counts on commission-free trading from its mobile app geared towards first-time millennial and GenZ traders. Two of its primary offers consist of fractional share dealing and access to IPOs, with limited educational content.

Available Markets

Neither broker maintains a detailed asset list on their websites, but Interactive Brokers is home to one of the broadest choices of trading instruments versus all online brokers. Clients have access to 135 markets across 33 countries in 23 currencies, presenting investors and traders with almost unrivaled opportunities for in-depth portfolio diversification. Given its dominance in available markets, Interactive Brokers also caters to institutional clients, including hedge funds. Retail traders get access to the same products. Robinhood presents a narrow focus on popular assets often trending on social media and offers stocks, ETFs, IPOs, options, gold, and cryptocurrencies.

Typical Spreads and Fees

Committed traders benefit from the cost structure at Interactive Brokers, presenting one of the best pricing environments. While Forex traders get a minimum spread of 0.1 pips for a commission of $2.00 per order or $3.00 per lot, equity traders pay as little as 0.05% per trade plus mark-ups. It is up to 50% cheaper than the industry standard and makes a notable difference in profitability. Financing costs for margin trading commence with a benchmark rate of 2.50%. Robinhood presents commission-free trading, but spreads are higher, creating higher final trading costs while pricing transparency is absent.