Compare Broker Costs and Price Execution

Compare Online Brokers

Minimize Your Trading Costs

Rated Lowest Margin Fees1 by StockBrokers.com


Margin rates as low as 2.20% Learn More

US Margin Loan Rates Comparison2

$25K $300K $1.5M $3.5M
Interactive Brokers3 3.40% 3.06% 2.76% 2.52%
E-Trade 10.00% 8.50% 7.00% 7.00%
Fidelity 8.82% 7.57% 5.00% 5.00%
Schwab 8.82% 7.57% N/A N/A
TD Ameritrade 9.75% 8.25% N/A N/A

Each firm's information reflects the standard online margin loan rates obtained from their respective websites. Competitor rates and offers subject to change without notice. Services vary by firm.

Margin borrowing is only for sophisticated investors with high risk tolerance.
You may lose more than your initial investment.

IB's SmartRouting Advantage Delivering Best Price Execution for ibkr pro Clients1

IB SmartRoutingSM searches for the best firm stock, option, and combination prices available
at the time of your order, and seeks to immediately execute your order electronically.

US Equities Execution Price Improvement Comparison*
Net US Dollars
(per 100 shares)
Interactive Brokers $0.43
Industry $0.00
IB Advantage $0.43

Net US Dollar Price Improvement vs. Industry Bid / Offer 2

*Based on independent measurements, IHS Markit, a third-party provider of transaction analysis, has determined that Interactive Brokers' US stock price executions were significantly better than the industry's during the first half of 2019. 3

View IHS Markit Letter

What Other Online Brokers Conveniently Leave Out

Our results are even more impressive when you consider that other industry-touted statistics don't give you the whole picture. They only discuss the percentage of orders that saw price improvement, and conveniently ignore the percentage of their orders that were dis-improved or had no improvement. In contrast, our statistics are netted, showing the true bottom-line price improvement including, all improved, dis-improved and unimproved amounts.

  • Unlike smart routers from other online brokers, IB SmartRouting never routes and forgets about your order. It continuously evaluates fast changing market conditions and dynamically re-routes all or parts of your order seeking to achieve optimal execution and maximize your rebate.
  • IB SmartRouting represents each leg of a spread order independently and submits each leg at the best possible venue.
  • IB SmartRouting AutorecoverySM re-routes your US options order in the case of an exchange malfunction, with IB undertaking the risk of double executions.
  • To help provide price improvement on large volume and block orders and take advantage of hidden institutional order flows that may not be available at exchanges, IB includes eight dark pools in its SmartRouting logic.

Our smart router takes into account transaction costs along with the fee or rebate for taking/adding liquidity when determining where to route your marketable order when the inside market is shared by multiple exchanges. For clients who want even more control of their orders, TWS clients can specify stock and options smart routing strategies for non-marketable orders. For stocks, clients with the Cost Plus pricing structure can elect to have their non-marketable orders routed to:


  • The exchange with the highest rebate.
  • The listing exchange on the symbol.
  • The highest volume exchange that has a rebate for adding liquidity.
  • The highest volume exchange that charges the lowest fee for taking liquidity.

For options, clients can choose to send their non-marketable Smart routed orders to the exchange offering the highest rebate. These routing directives can be set on a per-order basis from the "Misc" tab of the Order Ticket, or as a global default setting from the Smart Routing configuration page.

Disclosures
  1. According to StockBrokers.com Online Broker Survey 2019: Read the full article Online Broker Reviews, February 18, 2019. "Lowest margin rates in the industry".
  2. Annual Percentage Rate (APR) on USD margin loan balances as of 09/25/19. Interactive Brokers calculates the interest charged on margin loans using the applicable rates for each interest rate tier listed on its website. For additional information on margin loan rates, see ibkr.com/interest.
  3. IB calculates the interest charged on margin loans using the applicable rates for each interest rate tier listed on its website. For additional information, see ibkr.com/interest. Under some commission plans, overnight carrying fees may apply. Options and futures are risky and are not suitable for all investors. Please review "Characteristics and Risks of Standardized Options" and the CFTC Future Trading Risk Disclosure by clicking here before trading these respective products.