Head-to-head comparison across ratings, fees, asset coverage, and platform breadth.
4.0 / 5
For active day traders and short sellers with $27K+ in capital who need multi-source HTB locates, true DMA without PFOF, and a human picking up the phone. Not a fit for buy-and-hold, beginners, or anyone who wants a polished mobile app.
4.6 / 5
Best for active, global, and advanced traders. Lowest margin rates in the industry, broadest international access (160+ exchanges, 36 countries), and the most complete API stack in retail brokerage.
Each broker scored 0–5 across the same 8 dimensions.
Green cells mark the winner on each metric. Tie rows are uncoloured.
| Metric | Cobra | Interactive | Winner |
|---|---|---|---|
| OverallEditorial score | 4.00 / 5 | 4.60 / 5 | Interactive |
| Sub-ratingsCommissions & fees | 4.50 | 4.80 | Interactive |
| Sub-ratingsPlatforms & tools | 4.50 | 5.00 | Interactive |
| Sub-ratingsMobile app | 2.00 | 4.00 | Interactive |
| Sub-ratingsResearch | 2.50 | 4.20 | Interactive |
| Sub-ratingsEducation | 2.00 | 4.00 | Interactive |
| Sub-ratingsCustomer service | 4.50 | 3.80 | Cobra |
| Sub-ratingsRange of investments | 3.00 | 5.00 | Interactive |
| Sub-ratingsActive trading | 5.00 | 5.00 | Tie |
| PricingLowest margin rate | 5.25% | 5.83% | Cobra |
| PricingDefault cash sweep yield | — | 4.33% | Interactive |
| PricingPFOF on equities | Does not accept | Does not accept | Tie |
| Asset class | Cobra | Interactive |
|---|---|---|
| OTC / Pink Sheets / OTCBB | Yes | |
| Fractional shares | No | Yes |
| Options (multi-leg + spreads) | Yes | |
| Mutual funds | No | Yes |
| US Treasuries / bonds | No | |
| Forex | No | Yes |
| Futures | No | |
| Crypto (direct) | No | Yes |
| International stocks / ADRs | No | |
| 24-hour overnight equity trading | No | Yes |
| Hard-to-borrow short locates | Yes | |
| OTC / penny stocks | Yes | |
| Options (US + global) | Yes | |
| US Treasuries | Yes | |
| Corporate / muni bonds, CDs | Yes | |
| Futures / futures options | Yes | |
| International stocks | Yes | |
| IPOs | Yes | |
| Prediction markets | Yes |