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.
- OKX - 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.
- Moomoo - Moomoo is an SEC-regulated app-based investment platform that offers a straightforward and affordable way to invest in Chinese, Hong Kong, Singaporean, Australian and US stocks, ETFs and other assets. Margin trading is available and the brand offers a zero-deposit account as well as several bonuses.
Detailed Comparison
| Feature | FTX | Interactive Brokers | OKX | Moomoo |
|---|---|---|---|---|
0.3
|
4.3
|
4.1
|
3.2
|
|
| Bonus | $10 in BTC | Get up to 15 free stocks worth up to $2000 | ||
| Instruments | Cryptos, Futures, Options | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies | Spot, Futures, Swaps, Options, X-Perps | Stocks, Options, ETFs, ADRs, OTCs |
| Demo Account | No | Yes | Yes | Yes |
| Minimum Deposit | $1 | $0 | 10 USDT | $0 |
| Payment Methods |
|
|
|
|
| Minimum Trade | $1 | $0 | Variable | $0 |
| Trading Platforms |
|
|
|
|
| Regulator | SEC, FINRA, CFTC, NFA, CIRO, FCA, CBI, ASIC, SFC, SEBI, JFSA, MAS | FinCEN, VARA | SEC, FINRA, SIPC, MAS, SFC, ASIC, FMA, CIRO, CIPF, JFSA, SC | |
| Margin Trading | Yes | Yes | Yes | Yes |
| Margin Rate | 5.5% - 6.13% (depending on account tier) | 6.8% | ||
| STP Account | No | Yes | No | No |
| ECN Account | No | No | No | No |
| DMA Account | No | Yes | No | No |
| 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 | Yes | Yes |
| Robo Advisor | No | Yes | No | No |
| Negative Balance Protection | No | No | No | No |
| Market Maker | No | No | No | No |
| P2P Trading | No | No | Yes | No |
| Spot Trading | No | Yes | Yes | Yes |
| Mobile Apps | iOS & Android | iOS & Android | Android & iOS | 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. | The Moomoo app is part of the core offering. We’ve spent hours using it and it’s feature-rich, with the ability to find and screen assets, conduct market research, check pre-market moves, and place market and pending orders. It’s a step up from most investing apps that focus on the basics but leave you turning to the desktop platform for advanced trading tools. The catch is that with many features the learning curve from our tests was longer than at rivals. | ||
| Auto Trading | Yes | Capitalise.ai, TWS API | Yes | Moomoo OpenAPI |
| Copy Trading | No | No | No | No |
| Social Trading | No | No | No | Yes |
| VPS Hosting | No | No | No | No |
| 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 | $0 | |
| Islamic Account | No | No | No | No |
| Account Currencies | Array |
|
|
|
| Stock Exchanges |
|
|
||
| Commodities |
|
|||
| 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) | 1:2 | ||
| 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 | $0 per trade | ||
| 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 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 | 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. | Moomoo added spot crypto trading capabilities with 50+ tokens, including major names like Bitcoin, Ethereum, and Dogecoin. It was also the first US broker to provide SEC-registered blockchain-native shares like Figure Technology Solutions’ FGRD and crypto IPO allocations such as BitGo. |
| Crypto Spread | Variable | 0.12%-0.18% | Variable | 0.49% per spot Bitcoin trade (US), 0.3% to 0.39% (Singapore) |
| Crypto Coins |
|
|
|
|
| Crypto Lending | Yes | No | Yes | No |
| Crypto Mining | No | No | No | No |
| Crypto Staking | No | No | Yes | No |
| Crypto Auto Market Maker | Yes | No | No | No |