Alternatives to FTX
Written By
James Barra
Written By
James Barra
Head of Content and Media Lead
Edited By
Jemma Grist
Edited By
Jemma Grist
Broker Analyst and Editor
Fact Checked By
William Berg
Fact Checked By
William Berg
Head Legal Analyst & Securities Law Expert
Updated
Jul 2, 2024
Here we list the best alternatives to FTX, the failed crypto exchange that has cost investors and customers billions of dollars. Traders that are looking for brokers that are similar to FTX on specific features should check the detailed comparison table below.
Top 3 Alternatives to FTX
These brokers are the best alternatives to FTX that also accept traders from your location. The brokers are listed in order of similarity in terms of markets and features.- Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to over 170 markets across 40 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- Optimus Futures - Established in 2004, Optimus Futures specializes in low-cost, customizable futures trading. It provides access to a growing suite of around 70 futures markets spanning micro E-minis, energies, metals, grains, and cryptos. With commission tiers starting at $0.25 per side for micros and the option to choose your own clearing firm (e.g. Ironbeam, StoneX, Phillip Capital), the brokerage offers flexibility. Optimus Futures has also introduced excellent features like multi-bracket orders and journaling, giving active traders more control.
- FOREX.com - Founded in 2001, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
Detailed Comparison
| Feature | FTX | Interactive Brokers | Optimus Futures | FOREX.com |
|---|---|---|---|---|
0.3
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4.3
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4.3
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4.5
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| Bonus | VIP status with up to 10k+ in rebates - T&Cs apply. | |||
| Instruments | Cryptos, Futures, Options | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies | Futures on Indices, Metals, Energies, Softs, Bonds, Cryptos, Options on Futures, Event Contracts | Forex, Futures and Options on Metals, Energies, Commodities, Indices, Bonds, Crypto |
| Demo Account | No | Yes | Yes | Yes |
| Minimum Deposit | $1 | $0 | $500 | $100 |
| Payment Methods |
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Debit Card, ACH Transfer, Wire Transfer |
| Minimum Trade | $1 | $100 | $50 | 0.01 Lots |
| Trading Platforms |
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| Regulator | SEC, FINRA, CFTC, NFA, CIRO, FCA, CBI, ASIC, SFC, SEBI, JFSA, MAS | NFA, CFTC | NFA, CFTC | |
| Margin Trading | Yes | Yes | Yes | Yes |
| Margin Rate | 0.50% – 1.50% (IBKR Pro markup), 2.50% (IBKR Lite markup) | |||
| STP Account | No | Yes | No | Yes |
| ECN Account | No | No | No | Yes |
| DMA Account | No | Yes | Yes | Yes |
| MAM Account | No | Yes | No | No |
| PAMM Account | No | No | No | No |
| LAMM Account | No | No | No | No |
| Demat Account | No | Yes | No | No |
| AI / Machine Learning | No | Yes | No | Yes |
| Robo Advisor | No | Yes | No | No |
| Negative Balance Protection | No | Yes | No | Yes |
| Market Maker | No | No | No | No |
| P2P Trading | No | No | No | No |
| Spot Trading | No | Yes | No | Yes |
| Mobile Apps | iOS & Android | iOS & Android | iOS & Android | iOS & Android |
| Trading App | The IBKR Mobile app, available on both iOS and Android devices, makes your phone a powerful gateway to your IBKR accounts, offering you the freedom to keep an eye on portfolios, initiate trades, and dive into real-time quotes and charts, all while managing your account activities on the fly. This app stands out for its intuitive design, making it especially welcoming for those just starting their trading journey, providing a smoother and more accessible experience than the more complex TWS platform. | Optimus Futures Mobile gives futures traders fast, direct exchange access with low-latency execution and full depth-of-market (DOM) views. Order entry is quick and reliable, with support for advanced strategies such as brackets, OCO, and trailing stops alongside 150+ indicators for charting. It’s best suited for active day traders who need professional futures tools on the go. | Running alongside the MT4 and Web Trader platforms, the FOREX.com app offers full trading capabilities on a user-friendly, compact platform. Integrated news and analysis, plus real time trade alerts, are two mobile specific features that set this app above the crowd. Additionally, it beats out MT4 when it comes to mobile charting tools, with over 80 indicators and 11 chart types, not to mention a slicker design that we love. | |
| Auto Trading | Yes | Capitalise.ai, TWS API | TradingView Pine Script, API Features | Expert Advisors (EAs) on MetaTrader |
| Copy Trading | No | No | Yes | No |
| Copy Trading Platform | Copy trading services are available across some of the broker's extensive range of platforms. | |||
| Social Trading | No | No | No | No |
| Trade Signals | None | |||
| VPS Hosting | No | No | No | Yes |
| Tournaments | No | No | No | No |
| Demo Competitions | No | No | No | No |
| Ethical Investing | No | Yes | No | No |
| Custodial Account | No | No | No | No |
| Guaranteed Stop Loss | No | No | No | No |
| Inactivity Fee | $0 | $0 | $15 | |
| Islamic Account | No | No | No | Yes |
| Account Currencies | Array |
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| Stock Exchanges |
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| Commodities |
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| CFD Trading | CFD trading not offered | CFD trading not offered | CFD trading not offered | CFD trading not offered |
| Leverage | 1:50 (major forex pairs), 1:2-1:4 (equities) | 1:50 | ||
| FTSE Spread | 0.005% (£1 Min) | 1.0 | ||
| GBPUSD Spread | 0.08-0.20 bps x trade value | 1.3 | ||
| Oil Spread | 0.25-0.85 | 2.5 | ||
| Stocks Spread | 0.003 | 0.14 | ||
| Forex Trading | Forex trading not offered | IBKR presents an extensive range of over 100 major, minor, and exotic forex pairs, surpassing the offerings of nearly all leading alternatives, though not CMC Markets. Forex trading occurs over multiple platforms and boasts institutional-grade spreads starting from 0.1 pips and over 100 complex order types, including brackets, scale, and one-cancels-all (OCA) orders. | Optimus Futures gives forex traders access to CME currency futures, including full, mini, and micro contracts such as EUR/USD (6E, M6E), GBP/USD (6B, M6B), JPY/USD (6J, MJY), AUD/USD (6A, M6A), CAD/USD (6C, MCD) and others, with low day trading margins starting around $50–$100 on micros. It’s a strong choice for active currency futures traders rather than spot forex traders. | FOREX.com continues to uphold its stature as a premier FX broker, offering 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $7 commission per $100k, it stands out. |
| GBPUSD Spread | 0.08-0.20 bps x trade value | Variable | 1.3 | |
| EURUSD Spread | 0.08-0.20 bps x trade value | Variable | 1.2 | |
| EURGBP Spread | 0.08-0.20 bps x trade value | Variable | 1.4 | |
| Assets | 100+ | 15 | 84 | |
| Crypto Trading | FTX supports crypto trading on hundreds of major tokens by way of spot trades and derivatives contracts. This includes access to popular cryptos like Bitcoin, Ethereum and Litecoin. | IBKR lets you purchase and hold Bitcoin, Bitcoin Cash, Ethereum, and Litecoin at competitive commission rates and without needing a crypto wallet. Additionally, there is a range of other diverse assets to explore, such as crypto indices like the NYSE Bitcoin Index, as well as futures contracts like the BAKKT Bitcoin Futures. | Optimus Futures’ crypto lineup is focused on Nano Bitcoin Futures (BIT). In our hands-on tests, the contract’s $25 day trading margin makes it cost-efficient. Each BIT contract is 1/50 the size of the standard five-bitcoin futures, giving traders a way to fine-tune bitcoin exposure with smaller, precise position sizing. | Crypto trading not offered |
| Crypto Spread | Variable | 0.12%-0.18% | Variable | BTC 1.4%, ETH 2% |
| Crypto Coins |
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| Crypto Lending | Yes | No | No | No |
| Crypto Mining | No | No | No | No |
| Crypto Staking | No | No | No | No |
| Crypto Auto Market Maker | Yes | No | No | No |