Interactive Brokers vs Firstrade: Fees, Security, Features & Which to Choose (2025)

Trying to choose between Interactive Brokers and Firstrade This side-by-side comparison reveals total cost (fees + spreads), security & licenses, coins/derivatives, deposits/withdrawals, and app quality. In 2 minutes you’ll see who wins for beginners, active traders, and long-term holders. Clear pros/cons, a quick verdict, and safe links to get started.

Last updated on August 16, 2025

Interactive Brokers

Firstrade

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Available Countries

United States

Yes

Europe

Yes

Latin America

Yes

India

Yes

China

Canada

Yes

United Kingdom

Yes

United States

Europe

Latin America

India

China

Canada

United Kingdom

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Interactive Brokers is ideal if:

Perfect for global-active traders: Ideal if you want deep, real-time access to dozens of international markets and advanced trade execution tools.
Great for portfolio diversifiers: Excellent choice if you aim to build a diversified, multi-asset portfolio using an all-in-one platform.
Strong for research-driven investors: Tailored for those who rely on rich analytics, extensive market data, and customizable tools to inform their decisions.

Firstrade is ideal if:

Perfect if you value simplicity and self-led growth — Firstrade shines for investors who want a straightforward platform enhanced by rich educational content and intuitive tools like Options Wizard and FirstradeGPT.
Great for cost-conscious traders focused on the US market — It delivers commission-free trading across stocks, ETFs, options, and mutual funds, ideal if you prioritize low ongoing costs and trade U.S. securities.
Not ideal if you need advanced or global asset access — The platform doesn’t offer futures, forex, crypto, IPOs, or international markets, so it's not suited for highly diversified or exotic investment strategies.

Interactive Brokers isn’t ideal if:

Not ideal for new investors: The platform’s advanced tools and steep learning curve can feel overwhelming to beginners.
Not ideal if you rely on high cash interest yields: Smaller account balances typically don’t earn meaningful interest on idle cash.
Not ideal if you need highly responsive support: Some users report challenges with support responsiveness and personalized assistance.

Firstrade isn’t ideal if:

If you seek automated or advisor-led services — Firstrade doesn’t provide AI-driven trading automation, robo-advice, or personalized financial planning options.
If you need access to non-U.S. or exotic markets — It excludes futures, forex, international equities, and advanced asset classes, limiting your global exposure opportunities.
If you prioritize sleek navigation and advanced macroscopic insights — The platform’s layout can feel cluttered, with limited portfolio tracking and broader market analytics visible at a glance.

Fees & Total Costs

Spot Maker/Take

IBKR charges between 0.18% and 0.12% of trade value depending on your monthly crypto trading volume—fees decrease at higher tiers (≤ $100k = 0.18%, $100k–$1M = 0.15%, > $1M = 0.12%)—no additional discounts for holding a native token.

Firstrade does not operate on a crypto exchange-style maker/taker fee model since it primarily offers commission-free trading for stocks, ETFs, options, and mutual funds; there are no volume-based discounts tied to a native token.

Futures/Derivatives

For CME cryptocurrency futures like Bitcoin or Ethereum, fees are fixed per contract (e.g., Bitcoin Micro Futures range from $0.20 to $5 per contract depending on type and volume), with no explicit maker/taker split or funding fee details disclosed for crypto derivatives.

Firstrade does not support trading in futures, options on crypto, or any leveraged derivative contracts, so there are no maker/taker or funding fees in this category.

Average Spreads on Liquid Pairs

IBKR applies no added spreads or markups on crypto spot pairs, so spreads reflect raw market pricing without hidden cost.

As Firstrade does not currently offer direct spot cryptocurrency trading, there are no applicable spreads for BTC/USDT or ETH/USDT pairs within its platform.

Fiat Deposits & Withdrawals

Fiat funding supports standard bank methods (ACH, wire transfers), with typical timing of same or next business day, and IBKR does not tack on extra fees beyond those charged by your bank or processor.

Deposits and withdrawals are processed via ACH, wire transfers, and check requests; ACH is typically free and fast (1–2 business days), while wires may have a fee and take 1–3 days depending on the bank.

On-chain Withdrawals

Crypto withdrawals incur network-based miner (gas) fees, dynamically set per blockchain network (e.g., BTC, ETH, TRX)—IBKR does not apply fixed withdrawal fees, only pass-through transaction costs.

Since Firstrade does not facilitate direct on-chain crypto transfers, there are no blockchain network withdrawal fees for BTC, ETH, TRX, or other tokens.

Hidden Costs

There are no inactivity fees or express-KYC surcharges, but costs may arise from currency conversion when trading non-USD balances, and VAT or GST may apply depending on your jurisdiction.

The main extra cost to be aware of is currency conversion for non-USD accounts; Firstrade does not charge inactivity or expedited account verification fees.

Real-World Cost Example: “€500 BTC

You’d incur a fee of approximately ~0.18% (about €0.90) plus the market spread, and if you then withdrew on-chain you’d pay the dynamic network fee—so total cost is fee + spread + blockchain cost.

This action cannot be performed directly on Firstrade, as it does not provide native crypto purchasing; acquiring BTC would require an external platform, where costs would depend on that provider’s commission, spread, and withdrawal fee structure.

Crypto Offering & Trading Features

Number of Coins & Pairs

Interactive Brokers currently enables trading in up to 11 cryptocurrencies (including BTC, ETH, LTC, BCH, ADA, SOL, XRP, DOGE, AVAX, LINK, SUI), but does not provide a full list of trading pairs by volume; generally, the highest-volume pairs are BTC/USDT and ETH/USDT given their market prevalence.

Firstrade offers trading in approximately 38–41 cryptocurrencies, focusing on spot pairs only—there’s no full order book with crypto-to-crypto pairings, just single-asset buys priced in USD on their platform.

Product Range

The platform supports spot trading, crypto futures via CME, and access to crypto-based ETPs, but does not currently offer margin crypto trading, perpetual swaps, crypto options, staking/earn, loans, copy trading, grid bots, or auto-DCA features.

Firstrade supports only spot cryptocurrency trading; it does not support margin, perpetuals, futures, options, ETFs on crypto, staking, lending, copy trading, grid bot tools, or automated DCA programs.

Liquidity

IBKR doesn’t publish specific liquidity metrics, though their access to major global markets and professional counterparties ensures deep liquidity and tight order book depth for Bitcoin and Ethereum, aligning with institutional-grade execution standards.

Firstrade does not disclose actual 24-hour volume or order book depth data for crypto; trading occurs via their internal system with instant settlement but without traditional exchange-level liquidity metrics.

Tools

The platform integrates limit, stop, and OCO orders, real-time alerts, and advanced charting with analytics; it offers full API and WebSocket access for automation, but does not currently feature native TradingView integration within its interface.

Their crypto offering includes basic order types, real-time quotes, charts, and research features, but lacks advanced tools such as stop/OCO orders, advanced charting, native TradingView integration, alerts, or API/WS access for crypto.

Geographic Restrictions by Product

Certain products are restricted by jurisdiction—for instance, crypto spot trading is unavailable to residents of the EU and UK under specific subsidiaries, and crypto derivatives are outright prohibited for UK retail clients.

Crypto trading is available only to users in the United States; there are no crypto markets or services offered outside U.S. jurisdictions.

Innovation

Currently, the platform does not offer launchpad or launchpool programs, nor differentiated flexible or locked crypto-earn/yield products, though it is exploring innovations such as stablecoin funding and prediction-market tools for future updates.

Firstrade has not rolled out innovation tools like launchpad/launchpool, nor any flexible vs blocked crypto-earned programs—its crypto offerings remain simple and limited to direct spot purchases.

Security, Regulation & Custody

Operating Entity & Jurisdiction

Interactive Brokers Group, Inc. operates under U.S. jurisdiction, was founded in the late 1970s, and is headquartered in Greenwich, Connecticut, with regional offices globally to serve a multi-national client base.

The crypto service is delivered through Firstrade Crypto LLC, a U.S.-based subsidiary operating under parent company Firstrade Securities Inc., founded in 1985 and headquartered in Flushing, New York.

Licenses/Registration

Crypto execution and custody are provided via Paxos Trust Company or Zero Hash LLC, both regulated entities (for example, Paxos is overseen by the New York Department of Financial Services); IBKR does not self-custody crypto assets.

Firstrade Securities operates as a registered broker-dealer under FINRA and the SEC; crypto trading itself is facilitated by Apex Crypto LLC, acting under regulatory standards but without explicit VASP or MiCA licensing.

Custody

Custody is handled by Paxos or Zero Hash, not IBKR directly, and while there’s no public proof-of-reserves or cold storage ratio published, custody is managed through regulated third parties with institutional-grade controls.

Cryptocurrency custody is handled by Apex Crypto LLC as a third-party provider—not held on Firstrade’s own infrastructure. There’s no publicly shared proof of reserves, audit reports, or stated cold-storage percentages.

Insurance & Protection Funds

There are no specific crypto insurance or protection funds advertised by IBKR; instead, asset protection relies on the compliance and safeguards offered by the regulated custodians (Paxos/Zero Hash).

While traditional account assets benefit from SIPC and possibly FDIC protections, crypto holdings are not covered under these programs and have no dedicated insurance or extra custodian protection.

Incident History

The platform has not experienced major crypto-related hacks, but it has faced regulatory issues such as fines in Hong Kong over securities lending and U.S. sanctions violations—though these pertain to broader operations rather than crypto custody per se.

Firstrade hasn’t suffered publicized hacks or major suspensions tied to its crypto platform; however, it recently received FINRA censure and a fine for misleading communications about crypto offerings via an affiliate.

Risk Controls

IBKR supports strong risk controls including two-factor authentication, whitelisting, anti-phishing measures, sub-accounts, and granular API permissions to help safeguard client accounts.

Firstrade enforces strong security measures including multi-factor authentication, SSL encryption, firewalls, fraud detection systems, phishing education, and a secure security center, but doesn’t highlight features like API permissions or sub-accounts for crypto.

Transparency

Public transparency on crypto custody is limited—there are no monthly reports, open wallet addresses, or service level agreements (SLAs) disclosed for crypto—but overall regulatory reporting follows standard broker-dealer and custodian requirements.

There’s no public monthly reporting or wallet audit data available for crypto holdings. Users rely on Firstrade’s Online Protection Guarantee for unauthorized trades, yet there’s no SLA or public wallet addresses disclosed.

Deposits, Withdrawals, KYC & Support

Fiat Deposit Methods

IBKR accepts fiat deposits via ACH, bank wire, check (mail-in), direct debit, and bill-pay depending on your region; setup times and limits vary by method and your bank, typically ranging from same day to a few business days, with no universal minimum or maximum beyond what your bank imposes

Firstrade supports fiat deposits via ACH, wire transfer, check, and transfers from other brokerages; ACH from U.S. bank accounts is fee-free and takes a couple of business days, wires are faster but involve sending-bank fees, and check deposits vary by type and processing, with some available immediately.

Supported Fiat Currencies & Conversion

KYC (Verification Levels)

IBKR requires full standard KYC before allowing any fiat or crypto activity; there are no “limited” or “basic” tiers — only fully verified accounts can deposit, trade, or withdraw, as per their global customer identification protocols

There’s no formal tiered KYC structure; account opening requires ID verification, and once verified, users can access full services—there are no intermediate “basic” or “advanced” levels with differing limits.

Withdrawals

Fiat withdrawal limits are tied to your 2FA method (ranging from $50K/day without 2FA up to unlimited with advanced devices); ACH, wire, SEPA, BACS, etc., are supported, with processing times from same-day to a few business days

Withdrawals are available via ACH, check, or wire—ACH (up to $50,000 per day) is free and takes 1–2 business days, checks may take up to two weeks depending on delivery, and wires cost a fee and take several days; crypto token withdrawals (e.g. ERC20/TRC20) are not supported.

Customer Support

Support is available via email and a ticket system, with access to a comprehensive knowledge base and FAQs; while 24/7 live chat may not be universally offered, response times are generally within a few business hours depending on region and inquiry type

Support is offered via email and U.S. phone during business hours, complemented by a Help Center with FAQs—there’s no 24/7 live chat, and response times and knowledge base depth are moderate and office-hour dependent.

Languages & Localization

The platform supports multiple languages including native Spanish in some regions; fiat balances and fees are displayed in your account’s base currency (e.g., € for European accounts), and localized regulatory disclosures are provided based on your residency

The platform and mobile app support English, Simplified Chinese, and Traditional Chinese; the interface displays USD values only, with no localized support for Spanish or Euro-based users—reflecting its U.S.-centric design.

App Quality & Stability

IBKR’s mobile and desktop apps are known for their professional-grade stability and frequent updates, with rare crashes; while exact crash rates aren’t published, ongoing improvements and strong infrastructure ensure a smooth user experience.

The Firstrade app (iOS/Android) is well-rated, noted for intuitive navigation and sync across devices, though some users report occasional crashes; regular updates enhance features and UX, but no official crash-rate metrics are disclosed.

Experience, Performance & Ecosystem

UX/UI

The platform offers two distinct experiences—IBKR Lite with a simplified, intuitive interface ideal for casual investors, and IBKR Pro providing a richer, more sophisticated layout for seasoned users; this creates a steeper entry curve for Pro but delivers far greater customization once you acclimate.

Firstrade delivers a clean, beginner-friendly interface that helps new users get started quickly, though it doesn’t offer distinct “Lite” or “Pro” modes; advanced traders may find the layout functional but not deeply customizable.

Performance

Execution speed is highly efficient under normal conditions, yet during intense market swings, order latency may increase slightly; KYC processing can be slower during bull market surges due to high volume, though platform infrastructure remains stable with few interruptions.

Firstrade offers solid performance under normal conditions, but during high-volatility events, users sometimes note slight delays in order execution; account verification remains swift even during surges, with KYC queues rarely causing major hold-ups.

Education

There’s a rich learning ecosystem via IBKR Campus with structured lessons, webinars, and quizzes, alongside a paper trading simulator mirroring real market conditions; while most materials are in English, some Spanish-language content is progressively added.

The platform provides a rich library of written and video educational resources for investing concepts, though it lacks a dedicated simulator or demo trading environment and does not yet offer educational content in Spanish.

Community

The platform supports a structured referral program (with eligibility criteria), but lacks official social media groups like Discord or Telegram, and instead relies on educational forums and support channels to foster user interactions.

Firstrade does not operate official community channels like Discord or Telegram. It did run a referral program in the past, but that has been discontinued, and users must rely on formal help centers rather than peer-driven forums.

Integrations

Powerful integration options exist via IBKR APIs, TWS, Web API, and FIX, enabling seamless connectivity with external platforms for execution, tax reporting, or accounting, even if native TradingView embedding isn’t available.

Firstrade recently integrated advanced research tools from Trading Central, but doesn’t support direct TradingView charting, bot trading, or built-in tax/accounting integrations—users rely on manual methods or third-party tools.

Who Each One Is Best For

The setup shines for active, research-driven traders and institutional users who value automation and deep tools, while the Lite mode serves casual or cost-conscious investors who want straightforward access without complexity.

Firstrade shines with investors who value a reliable, easy-to-use platform with educational support and occasional advanced tools—ideal for self-directed U.S. investors prioritizing simplicity over complex trading setups.