Robin Hood competitors

Robin Hood Competitors


Robin Hood vs competition: investing fees and stock trading tools. Who are top Robin Hood competitors? List of the largest Robin Hood rival brokerage firms.



Overview of Robinhood’s Competitors


Robinhood is the low-cost brokerage firm, offering $0 commissions. This price doesn’t come without sacrifices in other areas; so other brokerage houses overall may provide very competitive investment services. In particular, Robinhood's main competitors are Firstrade, M1 Finance, M1 Finance, TD Ameritrade, and Interactive Brokers, all of which provide low-cost trading plus a host of benefits that Robinhood doesn’t offer.


M1 Finance


M1  rating

M1 Finance offers completely free investing. A new hybrid robo/self-directed brokerage firm is shaking up the investment industry. With a style of financial management that incorporates features of both automated investing and self-directed strategies, in addition to the lowest margin rates in the industry, this company is attracted a lot of interest.

Learn more in M1 investing review »


M1 Finance Promotion



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Firstrade


Firstrade rating

Another broker on the list of Robinhood competitors is Firstrade which charges $0 for all products. There is no account fees with the broker. The Firstrade website is user-friendly, and it has a handy trade ticket. Its mutual fund screener returns over 10,000 products, some of which carry no load and all have no transaction fee (free to buy and sell). While the broker doesn't have a desktop platform, it is the cheapest company among the top financial investment firms.

Learn more in Firstrade review »


Firstrade Promotion



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Webull


WeBull rating

The BIGGEST Robinhood competitor is Webull. It has the same $0 commission on stocks, options, cryptos, and ETFs. Unlike Robinhood, Webull offers advanced trading platform, IRA accounts, simulated trading and more.

Learn more in Webull review »


Webull Promotion



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TD Ameritrade


TD Ameritrade rating

Free stock and ETF trades are also available at TD Ameritrade. Like Robinhood, TD Ameritrade offers zero account fees. Unlike Robinhood, TD Ameritrade offers a large selection of financial services. These include Individual Retirement Accounts, which Robinhood still does not offer. Also available is free trading technology, including the very sophisticated thinkorswim, all at no charge. TD Ameritrade’s mobile platform far exceeds Robinhood’s simple app. All of TD Ameritrade’s trading platforms offer live streaming of CNBC at no cost.


RobinHood Competitors


TD Ameritrade is one of the few brokerage houses to also provide access to forex and futures. Of course, many securities are available, too, including a large selection of mutual funds. Over 4,200 of them carry no transaction fees.

Read TD Ameritrade review »


TD Ameritrade Promotion


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Interactive Brokers


Interactive Brokers rating

Interactive Brokers does not offer promotions like TD Ameritrade, but it does provide very low pricing for active traders. There are actually two pricing schedules: a fixed-rate plan and a tiered schedule. The fixed-rate program costs just half a penny per share with a $1 minimum order amount. There is a maximum commission of 0.5% of trade value. An order of 200 shares would cost just $1.

With tiered pricing, commissions vary based on the total number of shares an account trades per month. At less than 300,000 shares, the price is 0.35¢. The commission gradually decreases to 0.05¢ per share for accounts that can trade 100,000,000 shares every month. There is a minimum commission of $0.35 and a maximum of 0.5% of trade value. Most accounts would trade less than 300,000 shares, so a 35¢ commission would be the norm. Although this is higher than Robinhood, it is still very low.

Both commission schedules receive commission-free ETF’s from Global X, Infrastructure, O’Shares, Cambria, Eaton Vance, ACSI, and ETF Securities. One notable difference between Robinhood and Interactive Brokers is that IB requires $10,000 to open an account, while Robinhood has no minimum.


IBKR


IB also has a monthly inactivity fee of $10. Any account that does not generate at least $10 in commissions every month will be billed the difference. So every account will pay at least $10 every month to the broker.

An IRA at Interactive Brokers can be opened with just $5,000, there is no longer any termination fee for closing one. A retirement account with the broker can be denominated in any currency, and a variety of financial instruments can be traded in one. Besides securities, forex and futures are both available.

Read Interactive Brokers review »


Robin Hood Competitors Summary


Robinhood has the advantage of always providing zero commissions on stock, options, and ETF trades. But there are a lot of services that the broker is not able to deliver. Investors can find much better values with top Robinhood competitors, especially if they trade frequently or have large account balances.