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.
- Kraken - Kraken is a leading cryptocurrency exchange with a proprietary trading terminal and a list of 600+ tradeable crypto tokens. Up to 1:5 leverage is available with stable rollover fees on spot crypto trading and up to 1:50 on futures.
- 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 | Kraken | FOREX.com |
|---|---|---|---|---|
0.3
|
4.3
|
3.9
|
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 | Cryptos, xStocks, Pre-IPO Perpetual Futures | Forex, Futures and Options on Metals, Energies, Commodities, Indices, Bonds |
| Demo Account | No | Yes | Yes | Yes |
| Minimum Deposit | $1 | $0 | $10 | $100 |
| Payment Methods |
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|
|
Debit Card, ACH Transfer, Wire Transfer |
| Minimum Trade | $1 | $100 | Variable | 0.01 Lots |
| Trading Platforms |
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| Regulator | SEC, FINRA, CFTC, NFA, CIRO, FCA, CBI, ASIC, SFC, SEBI, JFSA, MAS | FINTRAC, AUSTRAC | 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 | No | 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 | Yes | Yes |
| Mobile Apps | iOS & Android | iOS & Android | Yes | 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. | 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 | Kraken Futures is integrated in other platforms which have bots: Bookmap, Caspian, FMZ Quant, Gunbot, HaasOnline, Hyndor, Margin | Expert Advisors (EAs) on MetaTrader |
| Copy Trading | No | No | No | No |
| Social Trading | No | No | No | No |
| 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 | $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. | Forex trading not offered | 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 | 1.3 | ||
| EURUSD Spread | 0.08-0.20 bps x trade value | 1.2 | ||
| EURGBP Spread | 0.08-0.20 bps x trade value | 1.4 | ||
| Assets | 100+ | 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. | Kraken is a specialized crypto exchange and supports more than 600 cryptocurrencies. These include all of the established tokens like Bitcoin as well as some altcoins. Traders can make trades on spot crypto markets with up to 1:5 leverage or on futures with up to 1:50. Fees are low and the platform is super easy to pick up. | Crypto trading not offered |
| Crypto Spread | Variable | 0.12%-0.18% | 0-0.26% average | 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 | Yes | No |
| Crypto Auto Market Maker | Yes | No | No | No |