Are you confused about whether to choose Interactive Brokers vs Freedom24 as a broker for your investing needs?
In this side-by-side comparison, we analyse Interactive Brokers vs Freedom24 to help you understand how these apps compare on some of the most common features and make a better-informed decision about the best broker for you.
Below, you’ll find the pros and cons of each broker, as well as a comparison table that features the different fees charged, the financial instruments supported, the regulation, and more. Keep reading!
Freedom24 vs Interactive Brokers: In a Nutshell
New stocks at the IPO price
It offers stocks of new companies at the IPO price, as well as 40,000+ stocks, 1,500+ ETFs, 800,000+ US Stock Options, and 147,000+ bonds on the largest exchanges in Europe, Asia, and the US.
Freedom24 trading platform can be accessed through PC and mobile App versions. They are well-designed but lack customization options. It includes additional features such as “InvestIdeas” and “News”.
All Freedom24 clients have D-accounts – USD and EUR saving accounts that give you interest rates in your parked money (up to 3% per annum).
Every investor (best overall)
Interactive Brokers is a global online broker and publicly listed company which surpassed major financial crises, showing resilience and a rigorous risk management process.
It offers an advanced investment platform that includes a wide range of products (stocks, options, mutual funds, ETFs, futures, bonds, and currencies) from 150 markets.
Beginners and intermediate investors have educational tools to explore, but the learning curve will be steep. Interactive Brokers also launched IBKR GlobalTrader, a modern mobile trading app to trade Stocks, Options and ETFs.
Pros and Cons
Freedom24
Pros
- No fees for the first 30 days
- Early access to new stocks at the IPO price
- Low commissions on stock and ETF trading
- No minimum deposit for general trading
- Demo trading
- USD saving accounts at 3% per annum
- Slick, modern, and easy for anyone to use
- No custody fee
Cons
- Minimum deposit of $2,000 for new stocks at the IPO price
- €7 per withdrawal
- High currency conversion fee
- High costs for stocks bought at the IPO price
Interactive Brokers
Pros
- Low commissions on US stock trading (for EUR based accounts)
- No monthly inactivity fee
- The broadest product and markets range in the brokerage industry
- Demo account
- Excellent reputation (founded in 1978)
- Extensive research and Education tools
- Has a modern mobile trading app to trade Stocks, Options and ETFs, ideal for novice investors, IBKR GlobalTrader.
Cons
- Complicated and lengthy account opening process (but fully online)
- Steeper learning curve for beginners
- Website is difficult to navigate
- Interactive Advisors (Robo-advisor feature) is only available for US customers
Freedom24 vs Interactive Brokers: Side-by-side Comparison
- General Information
- Founded in
- Demo Account
- Account Minimum
- Products
- Stocks
- ETFs
- Bonds
- Funds
- Options
- Futures
- CFDs
- Leverage Products
- Forex
- Cryptocurrencies
- Commodities
- Fees
- US stocks
- EU stocks
- ETFs
- Cryptocurrencies
- Custody Fee
- Inactivity Fee
- Withdrawal Fee
- Connectivity Fee
- Currency Conversion Fee
- Security
- Regulators
- Investor Compensation Scheme(per person, per institution)
Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.
