Interactive Brokers – a large American multinational brokerage firm – restricted the trading of GameStop (GME) and AMC shares several days ago. Many retail investors viewed this as a clear indication that Interactive Brokers is on the side of the hedge funds.
Chairman Thomas Peterffy’s interview with CNBC did little to placate the masses and his purported concerns about the ‘integrity’ of the market were easier to see through than a pane of glass. Even though these restrictions have since been lifted, many feel the damage has already been done.
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What are Interactive Brokers alternatives to trade GME, AMC, BB, & NOK now?
Handily, there are still brokers out there that allow free and fair trading. Check out our Interactive Brokers alternatives for buying stock.
If you want to buy GME, AMC, Blackberry (BB), or Nokia (NOK) shares now, you will need a reliable broker that won’t cancel your orders or restrict your trades. We have already reviewed most of the top trading platforms, but the best alternatives to Interactive Brokers are listed below. At the time of writing, these are the Interactive Brokers competitors that aren’t restricting your trades.
AvaTrade is one of the few brokers to continue allowing its users full access to GME, AMC, and other highly-shorted stocks, making it a strong Interactive Brokers alternative. You can start trading GameStop and AMC fast.
Fidelity has remained strong throughout the WallStreetBets saga, even when other platforms have leapt into bed with the hedge funds. It continues to be a platform where users can freely purchase stocks, including GME and AMC. It is one of the strongest Interactive Brokers rivals.
Saxo is a reliable investment banking company and it a good alternative platform to Interactive Brokers. Throughout the short squeeze saga, it has continued to allow users to buy and sell GME, AMC, BB, and NOK. Buy GameStop today with Saxo.
We have seen this same strategy of suppression being adopted by numerous brokers after Wall Street lost an alleged $70 billion in days following a gamma squeeze instigated by WallStreetBets. Hopefully, one of these 3 Interactive Brokers alternatives is suitable for your investment needs.
Interactive Brokers Chairman is fooling nobody
Despite Peterffy’s best efforts, investors have been vocal in their disdain for his actions.
The cold, hard reality for Interactive Brokers is that the damage limitation hasn’t paid off in the short-term, but will investors remember the severity of these actions and the impacts they had – and are having – on amateur traders?
Interactive Brokers users seeking alternatives
As a consequences of Interactive Brokers’ decisions, investors are ready to get involved in the stock market via a different platform and have been scathing in their criticism of the platform.
All we can hope is that these alternative brokers to Interactive Brokers can help you recapture your financial freedom. If none of our 3 recommendations are what you are looking for, there are plenty more platforms on our website.