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Interactive Brokers vs Citi Self Invest (2024)
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Citi Self Invest vs. Interactive Brokers Introduction
Interactive Brokers and Citi Self Invest are very different from each other. Here’s a comparison:
Fees
| Broker Fees |
Stock/ETF
Commission |
Mutual Fund
Commission |
Options
Commission |
Maintenance
Fee |
Annual IRA
Fee |
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Charles Schwab
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$0
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$49.95 ($0 to sell)
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$0 + $0.65 per contract
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$0
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$0
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IB
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$0+
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$14.95
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$0.25+ per contract
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$0-$240**
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$30
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Citibank
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$0
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$0
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na
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$0
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$0
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Services
| Broker Review |
Cost |
Investment Products |
Trading Tools |
Customer Service |
Research |
Overall Rating |
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Charles Schwab
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IB
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Citibank
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New Account Promotions
Charles Schwab: Get $0 commissions + satisfaction guarantee at Charles Schwab.
Interactive Brokers: Get up to $1,000 of IBKR Stock for FREE!
Citi: none right now.
Accounts and Assets
At Citi Self Invest, traders can buy and sell stocks, mutual funds, and ETFs. No other investment options are available.
Interactive Brokers offers much more, including cryptocurrencies, bonds, options, futures, precious metals, foreign assets, and forex.
Both companies also offer managed accounts through their affiliates.
Winner: Interactive Brokers
Margin
Interactive Brokers charges margin interest ranging from 6.33% to 7.33% depending on the commission plan and margin balance. Citi Self Invest only offers cash accounts.
Winner: Interactive Brokers
Computer Software
Traders at Citi Self Invest use the same website as other Citi customers. It’s simple, but because it integrates various Citi accounts, it can be hard to navigate. The IBKR site can also be tricky to navigate, but the difference lies in the trading experience.
For example, Citi’s charts are basic with no tools. In contrast, IBKR’s charts come loaded with over 70 technical studies, more than 10 graph styles, and over 100 drawing tools. You can even save and reload graphs later.
Order entry is another area where IBKR excels. While Citi offers a simple order ticket with four types (market, stop, stop limit, and limit), IBKR has six types, including market and limit on close. It also has options for adding bracket orders and a price management algo feature for advanced trading.
Both sites provide research materials, but IBKR has many more resources, including a stock screener that Citi doesn’t offer.
Finally, IBKR offers a desktop platform that delivers a professional-level trading experience, which Citi Self Invest lacks.
Winner: Interactive Brokers
Mobile Apps
The competition continues on mobile apps, and here, too, we see the same trend: advanced trading at Interactive Brokers and basic trading at Citi Self Invest. Citi’s order ticket on the app is the same as the one on the website, while IBKR offers even more order types, including:
- Market or limit if touched
- Relative
- Trail limit
Charting on the IBKR app is very good, though not quite as advanced as on the website. You can display charts horizontally, and there are some excellent tools. The app also includes options chains for calls, puts, and a few spreads, along with an options wizard for custom trades.
Because Citi Self Invest uses Citibank’s app, it comes with many cash management tools.
Winner: Interactive Brokers
Day Trading
Level II Quotes: Available at Interactive Brokers.
Direct-access Routing: Only at Interactive Brokers.
Extended Hours: Not available at Citi Self Invest.
PDT Status: Interactive Brokers offers a reset for pattern day-trading accounts and shows the number of day trades made.
Shorting: Only Interactive Brokers allows short positions.
Maker-Taker Fees: Only available with an Interactive Brokers account.
Winner: Interactive Brokers
Supplementary Services
Fully-Paid Stock Lending: Available at IBKR, allowing clients to earn money by lending out their shares.
Individual Retirement Accounts: Only at Interactive Brokers.
Automatic Mutual Fund Investing: Only at Citi Self Invest.
Initial Public Offerings: Not available at either brokerage.
Fractional Shares: Available at both firms.
DRIP Service: Citi Self Invest offers dividend reinvesting for both stocks and ETFs. Interactive Brokers limits this service to stocks.
Extended-hours Trading: IBKR clients can trade almost 24/7 across various asset classes and exchanges.
Winner: Interactive Brokers
Recommendations
Beginning Investors: A robo account with either company.
Mutual Fund Trading: IBKR is the only option.
Small Accounts: Neither firm has any minimums for self-directed accounts.
Retirement Planning & Long-Term Investing: An IRA with Interactive Brokers.
Stock and ETF Trading: Definitely IBKR.
New Account Promotions
Charles Schwab: Get $0 commissions + satisfaction guarantee at Charles Schwab.
Interactive Brokers: Get up to $1,000 of IBKR Stock for FREE!
Citi: none right now.
Final Judgment
Citi Self Invest simply can’t match the trading power of Interactive Brokers.
Updated on 8/23/2024.
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