Interactive Brokers
Teletrade
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Overview
Interactive Brokers was founded in 1977 and is headquartered in United States, while Teletrade was established in 2008 and is based in Cyprus. Interactive Brokers holds licences including the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, while Teletrade is regulated by Cyprus Securities and Exchange Commission (CySEC) among others. Interactive Brokers serves 1,000,000+ clients worldwide; Teletrade has 50,000+. The minimum deposit is $1 at Interactive Brokers and $100 at Teletrade.
| Feature | Interactive Brokers | Teletrade |
|---|---|---|
| Min. Deposit | $1 | $100 |
| Regulation | the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. Is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Is regulated by the Central Bank of Ireland (CBI, reference number C423427). Is licensed and regulated by the Central Bank of Hungary (Magyar Nemzeti Bank) under no. H-EN-III-623/2020. Is regulated by the Hong Kong Securities and Futures Commission. Is a member of NSE, BSE, SEBI. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Is regulated by Kanto Local Finance Bureau (Registration No.187). Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917). | Cyprus Securities and Exchange Commission (CySEC), The markets in financial instruments directive (MiFID) |
| Founded | 1977 | 2008 |
| Country | United States | Cyprus |
| Clients | 1,000,000+ | 50,000+ |
Fees
Fees are a critical factor when choosing between Interactive Brokers and Teletrade, directly affecting your bottom line as a trader. Interactive Brokers has a lower barrier to entry with a minimum deposit of $1 (vs $100 at Teletrade). Interactive Brokers charges withdrawal fees while Teletrade does not, a notable advantage for frequent withdrawers. Overall, Interactive Brokers scores higher on fees in our assessment.
| Feature | Interactive Brokers | Teletrade |
|---|---|---|
| Min. Deposit | $1 | $100 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | Yes | Yes |
Platforms
Interactive Brokers offers MT4, MT5, cTrader, a proprietary platform, while Teletrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Interactive Brokers supports social and copy trading features, which Teletrade does not offer. Interactive Brokers edges ahead on platform breadth and functionality in our scoring.
| Feature | Interactive Brokers | Teletrade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Web Trader, NinjaTrader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps (Ios & Android) |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Interactive Brokers and Teletrade compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. The two brokers are evenly matched on educational content.
| Feature | Interactive Brokers | Teletrade |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Interactive Brokers accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Teletrade supports 2 (Skrill, Neteller). Interactive Brokers uniquely supports bank transfer and credit/debit card among the two brokers. Teletrade uniquely supports Skrill and Neteller among the two brokers. Interactive Brokers scores higher on deposit and withdrawal flexibility.
| Feature | Interactive Brokers | Teletrade |
|---|---|---|
| Bank Transfer | Yes | No |
| Credit Card | Yes | No |
| PayPal | No | No |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Interactive Brokers and Teletrade offer live chat support. Both provide phone support. Email support is available at both brokers. Interactive Brokers supports 2 languages and Teletrade supports 15, giving Teletrade broader global reach. Both brokers are comparable on support quality.
| Feature | Interactive Brokers | Teletrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian |