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 2 alternatives to FTX
These brokers are the best alternatives to FTX that also accept traders from your location. They are listed in order of similarity in terms of markets and features.
- 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.
- OKX is a respected cryptocurrency firm, established in 2017, that offers a large suite of products, from trading to NFTs. Traders can access over 400 crypto tokens via OTC trading and derivatives. With an excellent web platform, developer tools and dynamic charts, OKX is a popular choice for technical traders.
Detailed comparison
Compared broker FTX | Alternative #1 Interactive Brokers | Alternative #2 OKX | |
|---|---|---|---|
| Visit broker | VisitReview | VisitReview | VisitReview |
| Bonus | – | – | $10 in BTC |
| Instruments | Cryptos, Futures, Options | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies | Spot, Futures, Swaps, Options, X-Perps |
| Demo Account | No | Yes | Yes |
| Minimum Deposit | $1 | $0 | 10 USDT |
| Payment Methods |
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| Minimum Trade | $1 | $1 | Variable |
| Trading Platforms |
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| Regulator | – | SEC, FINRA, CFTC, NFA, CIRO, FCA, CBI, ASIC, SFC, SEBI, JFSA, MAS | FinCEN, VARA |
| Margin Trading | Yes | Yes | Yes |
| Margin Rate | – | 5.5% - 6.13% (depending on account tier) | – |
| STP Account | No | Yes | No |
| ECN Account | No | No | No |
| DMA Account | No | Yes | No |
| MAM Account | No | Yes | No |
| PAMM Account | No | No | No |
| LAMM Account | No | No | No |
| Demat Account | No | Yes | No |
| AI / Machine Learning | No | Yes | Yes |
| Robo Advisor | No | Yes | No |
| Negative Balance Protection | No | No | No |
| Market Maker | No | No | No |
| P2P Trading | No | No | Yes |
| Spot Trading | No | Yes | Yes |
| Mobile Apps | iOS & Android | iOS & Android | Android & iOS |
| 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. | – |
| Auto Trading | Yes | TWS API | Yes |
| Copy Trading | No | No | No |
| Social Trading | No | No | No |
| VPS Hosting | No | No | No |
| Tournaments | No | No | No |
| Demo Competitions | No | No | No |
| Ethical Investing | No | Yes | No |
| Custodial Account | No | No | No |
| Guaranteed Stop Loss | No | No | No |
| Inactivity Fee | – | $0 | $0 |
| Islamic Account | No | No | No |
| Account Currencies | – |
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| Stock Exchanges | – |
| – |
| Commodities | – |
| – |
| CFD Trading | |||
| Overview | CFD trading not offered | CFD trading not offered | CFD trading not offered |
| Leverage | – | 1:50 (major forex pairs), 1:2-1:4 (equities) | – |
| FTSE Spread | – | 0.005% (£1 Min) | – |
| GBPUSD Spread | – | 0.08-0.20 bps x trade value | – |
| Oil Spread | – | 0.25-0.85 | – |
| Stocks Spread | – | 0.003 | – |
| Forex Trading | |||
| Overview | 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. | Forex trading not offered |
| GBPUSD Spread | – | 0.08-0.20 bps x trade value | – |
| EURUSD Spread | – | 0.08-0.20 bps x trade value | – |
| EURGBP Spread | – | 0.08-0.20 bps x trade value | – |
| Assets | – | 100+ | – |
| Crypto Trading | |||
| Overview | 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. | OKX continues to offer a superb selection of 400+ tokens including Bitcoin and Ripple. You can buy and sell tokens or trade cryptos on margin via derivatives, including perpetual swaps, options and futures. OKX stands out for its low fees, extensive range of tokens and speedy crypto transactions. |
| Crypto Spread | Variable | 0.12%-0.18% | Variable |
| Crypto Coins |
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| Crypto Lending | Yes | No | Yes |
| Crypto Mining | No | No | No |
| Crypto Staking | No | No | Yes |
| Crypto Auto Market Maker | Yes | No | No |
| Visit broker | VisitReview | VisitReview | VisitReview |