SpeedTrader vs Interactive Brokers 2023

In today’s fast-paced financial world, choosing the right online broker is an essential decision for every trader and investor. With an overwhelming array of choices available, it can be quite challenging to determine which platform best suits your needs. In this article, we’ll compare SpeedTrader and Interactive Brokers. Known for their advanced tools, competitive pricing, and a wide array of offerings, both platforms have garnered a significant following in the trading community.

Speedtrader is Better for:Interactive Brokers is Better for:
Day traders and high-frequency tradersAdvanced traders and investors
Low latency and fast trade executionsAccess to a wide range of global markets and products
Direct market access and Level II quotesRobust trading platforms and tools

We will evaluate their products and services across three key factors, namely, trading fees and commissions, technology and platform capabilities, and customer service, to provide you with the most insightful analysis to help you make an informed decision.

SpeedTrader Interactive Brokers
Service Type Online brokerage Forex Trading and Stocks
Fees Varies based on volume and platform Starts at $0.005 per share
Customer Support Phone, email, live chat Phone, email, live chat
Best Use Active traders, day traders Advanced Forex Trading
Current Promotion

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Modest Money Overall Rating
4.5 rating based on 5 ratings
4.0 rating based on 5 ratings

Factor 1: Trading Fees and Commissions

SpeedTrader: Competitive Pricing for Active Traders

  • SpeedTrader offers per-share and per-trade commission structures
  • Interactive Brokers: Low-Cost Trading for a Broad Range of Products
  • Tiered and fixed pricing structures
  • Both offer discounts for high volume traders


SpeedTrader is a popular choice among active traders, offering competitive pricing for those who frequently trade stocks and options. The platform provides two commission structures: per-trade and per-share. The per-trade structure starts as low as $2.49 per trade, with lower fees for higher trading volumes, while the per-share structure begins at $0.0009 per share, with a $1 minimum at Axos.

SpeedTrader also offers lower fees for high-volume traders, further enhancing its appeal to those who trade frequently. There are no account minimums for cash accounts, although margin accounts require a minimum balance of $25,000. Options trading is available only to accounts clearing at Axos, with per-contract fees as low as $0.25 per contract, and a $2 per trade minimum.

Interactive Brokers

Interactive Brokers is well-known for its low-cost trading across a wide range of products, including stocks, options, futures, forex, and more. The platform offers two pricing structures: tiered and fixed. In the tiered structure, commissions are based on trading volume, with lower rates for higher volume, starting from $0.0035 per share for stocks, with a minimum of $0.35 per order.

The fixed pricing structure has a rate of $0.005 per share, with a minimum of $1 per order. Interactive Brokers also offers lower costs for high-volume traders. Account minimums vary, with individual accounts requiring a minimum balance of $2,000 for margin accounts and no minimum for cash accounts.

Factor 2: Technology and Platform Capabilities

SpeedTrader: Advanced Trading Tools for Active Traders

  • Direct market access for faster order execution
  • Customizable trading platform with advanced charting tools
  • Interactive Brokers: Comprehensive Trading Platform with Global Market Access
  • Trader Workstation (TWS) offers a wide range of trading tools


SpeedTrader is designed with active traders in mind, offering direct market access (DMA) for faster and more efficient order execution. The platform provides a highly customizable trading experience, with advanced charting tools and a range of order types to cater to various trading strategies.

SpeedTrader Pro also supports integration with popular third-party platforms such as DAS Trader Pro and Sterling Trader, providing even more versatility for traders who prefer to use their preferred tools alongside SpeedTrader’s offerings.

Interactive Brokers

Interactive Brokers’ flagship platform, Trader Workstation (TWS), is a comprehensive trading solution that caters to both casual and professional traders. TWS offers a wide range of trading tools, including advanced charting, algorithmic trading, risk management, and more.

One of Interactive Brokers’ main strengths is its global market access, allowing traders to invest in a vast array of asset classes from around the world, including stocks, options, futures, forex, and more. Furthermore, Interactive Brokers offers extensive API support, enabling users to create custom integrations with their preferred trading tools and platforms, enhancing the overall trading experience.

Factor 3: Customer Service and Support

SpeedTrader: Personalized Support for Active Traders

  • Dedicated support team for quick assistance
  • Interactive Brokers: Extensive Resources and 24/7 Support


SpeedTrader takes pride in offering personalized customer support to its active trader clientele. With a dedicated support team, the platform provides quick assistance to address any issues or concerns traders may encounter.

Support is available via phone and email during market hours, ensuring that traders can get the help they need when they need it the most. However, SpeedTrader’s resources for self-help and educational materials are somewhat limited compared to other platforms, which might be a drawback for those who prefer to learn and troubleshoot on their own.

Interactive Brokers

Interactive Brokers offers extensive customer service and support to its users. With 24/7 support available through various channels, including phone, email, live chat, and a secure message center, traders can receive assistance at any time.

Interactive Brokers also boasts a comprehensive knowledge base, complete with FAQs, video tutorials, and step-by-step guides, making it easy for users to find answers to their questions independently. Furthermore, the platform provides access to Traders’ Academy, an educational portal that offers in-depth courses and webinars to help users enhance their trading skills and knowledge, catering to both novice and experienced traders.

SpeedTrader vs Interactive Brokers: Our Summary

When it comes to choosing between SpeedTrader and Interactive Brokers, the decision ultimately depends on your individual trading needs, preferences, and goals.

SpeedTrader is an excellent choice for active traders who prioritize competitive pricing, direct market access, and personalized customer support. The platform’s advanced trading tools and integration with popular third-party platforms make it a powerful option for those who require a high level of customization in their trading experience. However, the platform’s limited self-help and educational resources might be a drawback for some users.

On the other hand, Interactive Brokers offers a comprehensive trading platform with access to global markets and a wide range of asset classes. Its low-cost trading, extensive API support, and robust customer service make it appealing to both casual and professional traders.

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Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. After working many years in the website marketing industry, he decided to take on blogging full time and also get his finances headed in the right direction. Also check out his contributions to Equities.com and Benzinga.