Alternatives to FTX
Written By
James Barra
Written By
James Barra
Edited By
Jemma Grist
Edited By
Jemma Grist
Fact Checked By
William Berg
Fact Checked By
William Berg
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 150 markets in 33 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.
- Firstrade - Firstrade is a US-headquartered discount broker-dealer with authorization from the SEC. The company is also a member of FINRA/SIPC. With welcome bonuses, powerful tools and apps, plus commission-free trading, Firstrade Securities is a popular and top-tier online brokerage. It is also quick and easy to open a new account.
Detailed Comparison
| Feature | FTX | Interactive Brokers | Optimus Futures | Firstrade |
|---|---|---|---|---|
0.3
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4.3
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4.3
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4
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| Bonus | Deposit Bonus Up To $4000 | |||
| Instruments | Cryptos, Futures, Options | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | Futures on Indices, Metals, Energies, Softs, Bonds, Cryptos, Options on Futures, Event Contracts | Stocks, ETFs, Options, Mutual Funds, Bonds, Cryptos, Fixed |
| Demo Account | No | Yes | Yes | No |
| Minimum Deposit | $1 | $0 | $500 | $0 |
| Payment Methods |
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| Minimum Trade | $1 | $100 | $50 | $1 |
| Trading Platforms |
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| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM | NFA, CFTC | SEC, FINRA | |
| Margin Trading | Yes | Yes | Yes | Yes |
| Margin Rate | 1.55 - 2.59% | 4.50% | ||
| STP Account | No | Yes | No | No |
| ECN Account | No | No | No | No |
| DMA Account | No | Yes | Yes | 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 | No | No |
| Robo Advisor | No | Yes | No | No |
| Negative Balance Protection | No | Yes | No | No |
| Market Maker | No | No | No | Yes |
| P2P Trading | No | No | No | No |
| Spot Trading | No | Yes | No | No |
| 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. | ||
| Auto Trading | Yes | Capitalise.ai, TWS API | TradingView Pine Script, API Features | |
| 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 | No |
| Tournaments | No | No | No | No |
| Demo Competitions | No | No | No | No |
| Ethical Investing | No | Yes | No | No |
| Custodial Account | No | No | No | Yes |
| Guaranteed Stop Loss | No | No | No | No |
| Inactivity Fee | $0 | $0 | $0 | |
| Islamic Account | No | No | No | No |
| Account Currencies | Array |
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| CFD Trading | CFD trading not offered | Over 8,000 CFDs are offered on a vast array of instruments, encompassing stocks, indices, forex, and commodities. Moreover, the TWS platform lends itself to seasoned day traders, offering a comprehensive selection of over 100 order types and algorithms, alongside premium market data sourced from reputable sources such as Reuters and Dow Jones. | CFD trading not offered | CFD trading not offered |
| Leverage | 1:50 | |||
| 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 20 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 trading not offered |
| GBPUSD Spread | 0.08-0.20 bps x trade value | Variable | ||
| EURUSD Spread | 0.08-0.20 bps x trade value | Variable | ||
| EURGBP Spread | 0.08-0.20 bps x trade value | Variable | ||
| Assets | 100+ | 15 | ||
| 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. | Take positions on dozens of leading cryptocurrencies with low fees and 24/7 investing. Traders need just $1 to start speculating on popular tokens like Bitcoin. Clients can also buy cryptos instantly in a few straightforward steps. |
| Crypto Spread | Variable | 0.12%-0.18% | Variable | Variable |
| 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 |