Interactive Brokers
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Investing in financial products involves taking risk.

Vs.

Binance
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Investing in cryptocurrencies involves risk.

Interactive Brokers Vs. Binance - Compare and Choose the Right One

Updated May 13 2022

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Investing in financial products involves taking risk.

Visit

Investing in cryptocurrencies involves risk.

Overview

Interactive Brokers is a global brokerage founded in 1978 that holds 11+ high tier financial licenses and provides discounted electronic trading services in nearly all the globe with access to more than 100,000+ financial instruments.

Binance is a global cryptocurrency exchange founded in 2017 in China with the aim of providing the ultimate trading solution. Currently, they offer more than 700+ cryptocurrencies, derivatives (such as Vanilla options, futures, staking), a Launchpad platform for ICOs and many more services such as several trading platforms with different complexity levels.

Best For
  • Seasoned investors looking for a one-stop shop to cover a variety of needs
  • Global investors who seek the most reliable discount service available
  • Traders from intermediate to advanced level
  • Avid cryptocurrency traders and investors from intermediate to expert levels
  • Day traders looking for a high liquidity exchange with competitive fees
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

10

Other Licenses

1

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Financial
Licenses

Regulation

Unregulated

Top-tier Licenses

0

Other Licenses

0

Provided by
TheTradingBible.com

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🏛 Financial Regulators
  • SEC (United States)
  • FINRA (United States)
  • FCA (United Kingdom)
  • ASIC (Australia)
  • IIROC (Canada)
  • MNB (Hungary)
  • BSE (India)
  • CBI (Ireland)
  • FSA (Japan)
  • CSSF (Luxembourg) CSSF
  • MAS (Singapore)

None, not required at the moment.

The Good
  • High regulation
  • Exceptional number of investment instruments (Above 100,000+)
  • Competitive discount fees
  • Largest cryptocurrency exchange in the world by liquidity
  • Massive cryptocurrencies selection available (700+)
  • Large amount of financial products in the form of derivatives (Vanilla options, futures, etc)
  • Advanced trading platforms with visual order books at no cost
The Bad
  • Complicated account opening process
  • Platforms are not beginner friendly
  • Narrow choice of deposit options (Mostly bank transfer)
  • Interface can be complex to use for beginners
  • The wide selection of products and derivatives can also be intimidating for beginners
Status
Operational Operational
Recent News
N/A N/A
Key Data
⌛ Account Opening Time
1 - 3 Days 1 Day
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

Only to increase withdrawal limits:

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

📍 Year Founded
1978 2017
💳 Minimum Deposit
$ - 0 0
💰 Payment Methods
  • Bank Transfer
  • ACH (US only)
  • Check (US only)
  • Debit Card (US only)
  • BPAY (Australia only)
  • All supported cryptocurrencies
  • Bank transfers
  • Visa
  • Mastercard
💵 Account Base Currencies
23 - USD, EUR, GBP, AUD, CAD, CHF, CNY, CZK, DK, HKD, HUF, INR, ILS, JPY, MXN, NZD, NOK, PLN, RUB, SGD, ZAR, KRW, SEK All supported cryptocurrencies.
🗽 Available to U.S Citizens
Yes Yes (excluding few states)
❌ Restricted Countries
AF, SY, SO, SD, LY, NG, BI. None
📊 STP Account
Yes No
📊 DMA Account
Yes No
📊 ECN Account
Yes No
Assets
📚 Available Assets
  • Real stocks, currencies, ETFs, options, futures, bonds, cryptocurrencies
  • CFDs on almost every possible asset class
  • Structured Products
  • More than 700+ real cryptocurrencies
  • A wide selection of derivatives based on real cryptocurrencies such as futures, vanilla options, etc.
📙 Stocks
78 markets N/A
📘 Currency Pairs
105 N/A
📗 Commodities
35 markets N/A
📕 Indices
13 N/A
📔 ETFs
13,000+ N/A
💸 Cryptocurrencies
4 700+
📒 Bonds
60,000+ N/A
📓 Options
33 markets N/A
📗 Futures
32 markets N/A
📝 Notes:

Interactive brokers provides real assets (equities) from more than 100+ markets (exchanges) across the world and also provides CFDs (in allowed regions).

Binance specialises in real cryptocurrencies and tokenised derivatives based on their own cryptocurrency offering.

Trading Experience
📈 Minimum Stock Trade Size

From 1 share - except for exchanges that allow fractional trading (US stock exchanges)

N/A
📉 Minimum ETFs Trade Size
N/A for EU Citizens N/A
📈 Minimum Crypto Trade Size

No minimum, but minimum fee is $1.75 per order

$10
📉 Minimum FX Trade Size
$25,000 (0.25 lots) N/A
📈 Minimum Commodities Trade Size
Varies per commodity (eg: 1 Ounce of Gold) N/A
📉 Minimum Bonds Trade Size
$1,000 for corporate/muni bonds, $1 million for treasury bonds N/A
📈 Minimum Futures Trade Size
1 contract N/A
📉 Minimum Options Trade Size
1 contract N/A
💪 Retail Leverage
Up to 1:30 Up to 1:20
💪 Professional Leverage
N/A N/A
✍ Customisable Leverage
No N/A
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes No
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
No No
📺 MetaTrader 5
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
No Yes
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No No
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
Yes No
Fees
💰 Inactivity Fee
No No
💰 Deposit Fees
No No
💰 Withdrawal Fees

One free withdrawal per month, subsequent are $10 per withdrawal or equivalent

No
💰 Commissions

Commissions depend on market and residency:

  • US residents are eligible for zero commission US stock trading. Else, for US stocks it is $0.005/share with a minimum $1 and maximum 1% of the trade value.
  • European stocks have €3 minimum and 0.05% trade value.
  • Forex commissions are volume based starting at 0.20 basis points of trade value or $2 minimum per trade, and going low as 0.08 basis points and $1.
  • Options start at $0.25 per contract and go as low as $0.15 per contract.
  • Futures start at $0.85 per contract and go as low as $0.25 per contract

Binance charges a fixed 0.1% trade value fee for spot trades.

Spreads
📈 EUR/USD
Dynamic - From 0.1 pips N/A
📉 SP500
Dynamic - From 1 Pip N/A
📈 GOLD
N/A N/A
📉 TSLA (Stock CFD)
Dynamic - From $0.50 N/A
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
N/A Dynamic - From $1
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
Yes No
🗓 Economic Calendar
Yes No
📜 Integrated Newsfeed
Yes No
📡 Reuters Feed
Yes No

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