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.
- Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers a top-tier selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
- 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.
Detailed comparison
Compared broker FTX | Alternative #1 IG | Alternative #2 Interactive Brokers | |
|---|---|---|---|
| Visit broker | VisitReview | VisitReview Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. | VisitReview |
| Instruments | Cryptos, Futures, Options | CFDs (not in US), Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting (UK only) | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies, CFDs |
| Demo Account | No | Yes | Yes |
| Minimum Deposit | $1 | $0 | $0 |
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| Minimum Trade | $1 | 0.01 Lots | $1 |
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| Regulator | – | CFTC, NFA, FCA, BaFin, ASIC, FINMA, MAS, JFSA, FMA, DFSA, BMA | SEC, FINRA, CFTC, NFA, CIRO, FCA, CBI, ASIC, SFC, SEBI, JFSA, MAS |
| Margin Trading | Yes | Yes | Yes |
| Margin Rate | – | 1.0% – 1.5% for Forex, 3.0% – 3.4% for Shares, Indices, and Commodities | 5.5% - 6.13% (depending on account tier) |
| STP Account | No | No | Yes |
| ECN Account | No | No | No |
| DMA Account | No | Yes | Yes |
| MAM Account | No | No | Yes |
| PAMM Account | No | No | No |
| LAMM Account | No | No | No |
| Demat Account | No | No | Yes |
| AI / Machine Learning | No | Yes | Yes |
| Robo Advisor | No | Yes | Yes |
| Negative Balance Protection | No | Yes | Yes |
| Market Maker | No | Yes | No |
| P2P Trading | No | No | No |
| Spot Trading | No | Yes | Yes |
| Mobile Apps | iOS & Android | iOS & Android | iOS & Android |
| Trading App | – | IG offers a superb all-round trading app. One of the pioneers of mobile trading, the application has been developed and refined over many years, meaning it is now among the best trading apps. Quick response, user-friendly layout, access to full charting and a stable and reliable application. It also offers guaranteed stops – an important risk management tool not available on many apps we’ve tested. | 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 | Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime | TWS API |
| Copy Trading | No | No | No |
| Social Trading | No | No | No |
| Trade Signals | – | Yes | – |
| VPS Hosting | No | Yes | No |
| Tournaments | No | No | No |
| Demo Competitions | No | No | No |
| Ethical Investing | No | Yes | Yes |
| Custodial Account | No | No | No |
| Guaranteed Stop Loss | No | Yes | No |
| Inactivity Fee | – | $12 | $0 |
| Islamic Account | No | No | No |
| Account Currencies | – |
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| Stock Exchanges | – |
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| Commodities | – |
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| CFD Trading | |||
| Overview | CFD trading not offered | IG offers a huge selection of 17,000+ CFDs, providing more trading opportunities than most CFD brokers. Traders can go long or short on popular markets like stocks, currencies, commodities and cryptos, while custom price alerts and the IG Academy continue to enhance the trading experience. | 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. |
| Leverage | – | 1:30 (Retail), 1:222 (Pro) | 1:30 |
| FTSE Spread | – | 1.0 | 0.005% (£1 Min) |
| GBPUSD Spread | – | 0.9 | 0.08-0.20 bps x trade value |
| Oil Spread | – | 2.8 | 0.25-0.85 |
| Stocks Spread | – | 0.02 | 0.003 |
| Forex Trading | |||
| Overview | Forex trading not offered | IG offers an above-average suite of 80+ currency pairs on its proprietary web platform, mobile app or MetaTrader 4, with more advanced charts and forex analysis tools available on the ProRealTime software. Forex spreads are competitive based on tests, starting from 0.1 pips on majors like the EUR/USD. | 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. |
| GBPUSD Spread | – | 0.9 | 0.08-0.20 bps x trade value |
| EURUSD Spread | – | 0.86 | 0.08-0.20 bps x trade value |
| EURGBP Spread | – | 0.9 | 0.08-0.20 bps x trade value |
| Assets | – | 80+ | 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. | IG offers a growing selection of over 100 crypto CFDs and digital assets for buying, selling and storing. It also stands out with its crypto index, which tracks the value of the top 10 digital currencies by market cap and provides a holistic way to speculate on the value of the crypto market. Its crypto offering was also bolstered in the UK after it secured a digital asset license from the FCA, providing trading and investing on popular crypto coins in a regulated setting. It has also expanded its spot crypto offering to Australia, France, and Singapore. | 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. |
| Crypto Spread | Variable | Variable | 0.12%-0.18% |
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| Crypto Lending | Yes | No | No |
| Crypto Mining | No | No | No |
| Crypto Staking | No | No | No |
| Crypto Auto Market Maker | Yes | No | No |
| Visit broker | VisitReview | VisitReview Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. | VisitReview |