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.
- 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.
- World Forex - World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
Detailed Comparison
| Feature | FTX | Interactive Brokers | Firstrade | World Forex |
|---|---|---|---|---|
0.3
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4.3
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4
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4
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| Bonus | Deposit Bonus Up To $4000 | 100% Deposit Bonus | ||
| Instruments | Cryptos, Futures, Options | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | Stocks, ETFs, Options, Mutual Funds, Bonds, Cryptos, Fixed | Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts |
| Demo Account | No | Yes | No | Yes |
| Minimum Deposit | $1 | $0 | $0 | $1 |
| Payment Methods |
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| Minimum Trade | $1 | $100 | $1 | 0.01 Lots |
| Trading Platforms |
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| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM | SEC, FINRA | SVGFSA | |
| Margin Trading | Yes | Yes | Yes | Yes |
| Margin Rate | 1.55 - 2.59% | 4.50% | ||
| STP Account | No | Yes | No | Yes |
| ECN Account | No | No | No | Yes |
| 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 | No | 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 | Yes | No |
| P2P Trading | No | No | No | No |
| Spot Trading | No | Yes | No | Yes |
| Mobile Apps | iOS & Android | iOS & Android | iOS & Android | iOS, Android + Web Browser |
| 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 WorldForex Trader Lite app offers very basic mobile trading capabilities. It took upwards of 30+ minutes just to get access to the trading app, with a frustrating process to open an account. The mobile interface itself has a subpar look and feel, encompassing basic charts and order windows. The other issue is that it's slow and sometimes lags when you move between features and place trades. Ultimately, it trails category leaders. | ||
| Auto Trading | Yes | Capitalise.ai & TWS API | Yes | |
| Copy Trading | No | No | No | Yes |
| Copy Trading Platform | Use copy trading signals on MT4 to replicate strategies in your own live account. No additional fees apply and the platform is available via downloadable software plus a web-accessible solution. | |||
| Social Trading | No | No | No | No |
| Trade Signals | Yes | |||
| VPS Hosting | No | No | No | Yes |
| Tournaments | No | No | No | Yes |
| Demo Competitions | No | No | No | Yes |
| Ethical Investing | No | Yes | No | No |
| Custodial Account | No | No | Yes | No |
| Guaranteed Stop Loss | No | No | No | No |
| Inactivity Fee | $0 | $0 | ||
| Islamic Account | No | No | No | Yes |
| 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 | World Forex's leveraged CFDs are available on a modest suite of 100+ instruments, including stocks, commodities and forex. Very high leverage up to 1:1000 is available for account balances up to $1000, with lower levels available to accounts with higher balances. |
| Leverage | 1:50 | 1:1000 | ||
| FTSE Spread | 0.005% (£1 Min) | NA | ||
| GBPUSD Spread | 0.08-0.20 bps x trade value | NA | ||
| Oil Spread | 0.25-0.85 | NA | ||
| Stocks Spread | 0.003 | $0 per trade | From 0.03 | |
| 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. | Forex trading not offered | World Forex offers CFD and digital contract trading on 53 forex pairs, including EUR/USD and GBP/EUR. High leverage is available for CFDs, which can be accessed with competitive spreads on certain account types. |
| GBPUSD Spread | 0.08-0.20 bps x trade value | From 0.6 | ||
| EURUSD Spread | 0.08-0.20 bps x trade value | From 0.6 | ||
| EURGBP Spread | 0.08-0.20 bps x trade value | From 0.6 | ||
| Assets | 100+ | 53 | ||
| 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. | 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. | Traders can access CFDs on crypto assets through World Forex's dedicated W-CRYPTO accounts, which offer leveraged cryptocurrency trading with spreads from zero. We rate that you can trade on 10 cryptos paired with the USD and EUR, while crypto-crypto pairs are also available. |
| Crypto Spread | Variable | 0.12%-0.18% | Variable | 0 |
| 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 |