Robin Hood competitors

Robinhood Competitors


Who are the biggest Robinhood competitors and alternatives? Companies like Robinhood (similar companies) in 2022.


Overview of Robinhood’s Competitors


Robinhood is a popular broker and has built a surprisingly large customer base since its start in 2015. Despite its popularity among younger investors looking for an easy entry into the world of investing, some feel that Robinhood is missing some essential tools and resources.

Unsurprisingly, many Robinhood competitors offer similar services, and in many cases, the products offered by other brokers are better. So who are the main Robinhood alternatives? Let's find out.


TD Ameritrade


TD Ameritrade is one of our favorite Robinhood competitors for investors looking for a full range of investment services. While the mobile experience is not as beginner-friendly as Robinhood's, it does provide a deeper level of market-related information, better charting, and free market data. It is also relatively easy to place and follow trades on the app, and Robinhood users will be able to transition quite quickly.


How do TD Ameritrade and Robinhood Compare?


When looking for good Robinhood alternatives, it can be helpful to see what you might expect in terms of similarities and differences. TD Ameritrade can be used in a Robinhood-like way, but the broker also offers many opportunities for investors to branch out and explore more advanced strategies.

As is the case with Robinhood, TD Ameritrade offers an easy trading interface. Buying and selling stocks, ETFs, and options from TD Ameritrade's thinkorswim mobile app is easy and keeping track of your positions is also straightforward.

TD Ameritrade's app also makes building advanced options positions clearer. We also think it is easier to follow the price action of securities you are interested in, thanks to a better charting experience on TD Ameritrade's app.

TD Ameritrade offers many tools and resources that investors might like better than those provided by Robinhood. However, there are some things that you might miss. These are; direct access to the cryptocurrency markets, fractional shares trading, and instant cash on deposits made with ACH.


Robinhood Competitors


What Does TD Ameritrade Offer That Robinhood Does Not?


If you are thinking of adding TD Ameritrade to your Robinhood competitors list, here are some more TD Ameritrade details to consider.

In contrast to Robinhood, TD Ameritrade offers a full range of investment vehicles. You can trade ETFs, stocks, options, OTC securities (including penny stocks), international stocks, mutual funds, futures, and forex.

Using TD Ameritrade's brokerage website and pro trading platform (thinkorswim) also adds more capability to a trader's repertoire. Thinkorswim offers paper trading, advanced charting, market news, free data, theoretical risk visualizers for options strategies, advanced screening, and complete control over your portfolio.

Another reason investors might prefer TD Ameritrade over Robinhood is that many more account types are available. These include custodial, joint, business, joint business, 401k, and several choices for IRAs, cash, and margin accounts.


Why Choose TD Ameritrade?


You would choose TD Ameritrade over Robinhood to engage with the markets more versatilely. With TD Ameritrade, you get a better selection of account types, investment vehicles, platform tools, etc.

Learn more in TD Ameritrade review »


Open TD Ameritrade Account



Open TD Ameritrade Account



M1 Finance


Another good Robinhood alternative is M1 Finance. M1 follows a similar path to Robinhood in that the broker uses a simplified approach to investing in an effort to appeal to newcomers to the investment world. Younger investors and those with less market experience enjoy the simplified approach. It is also suitable for investors looking for a way to invest with confidence without getting bogged down by too much information.


How Do M1 and Robinhood Compare?


Let's take a look at why we included M1 Finance in our list of Robinhood competitors.

The first thing to note is that M1 is not focused on day traders or short-term trading. Unlike Robinhood, M1 restricts trading to specific times and encourages longer-term holds. M1's product is also designed in a completely different way.

While it is possible to purchase stocks and ETFs at M1 Finance, the broker's main attraction is building portfolios based on ratios. The resulting 'pies' allow traders to decide how big each 'slice' should be depending on their financial goals. At M1, you can build portfolios manually or by using the robo-investing feature.


Robinhood Alternatives


What does M1 offer that Robinhood does not?


Many features available at M1 Finance do not exist at Robinhood. As we have already mentioned, the automated 'hands-off' approach to investing in stocks and ETFs is at the forefront of those features.

Some other things that you will see at M1 are loans backed by securities in your portfolio, banking services with a credit card option (Robinhood offers a similar service but only provides a debit card), and prebuilt 'pies' to take the guesswork out of 'proper' portfolio balancing.


Open M1 Finance Account



Open M1 Finance Account



Why Choose M1 Finance?


You would choose M1 Finance over Robinhood for automated investing, long-term strategies, customizable portfolio balancing, credit card access, and securities-backed loans.

Learn more in M1 Finance review »


Webull


As far as Robinhood competitors go, Webull is a broker that certainly deserves a place on this list of Robinhood alternatives. Targeting a similar customer base, Webull is a mobile-first broker providing commission-free trading, cryptocurrency access, and the same types of securities featured on Robinhood.


How do Webull and Robinhood Compare?


One of the first things you will notice about Webull is how focused the broker is on the customer experience. Webull provides services that are both powerful and easy to use. The trading experience is streamlined across all the broker's platforms, making it easy to switch between them whenever the need arises.

As with Robinhood, you can use the mobile app or web interface to create a simplified approach to investing. Watchlist building is intuitive, and it is easy to get up-to-date market news. Also available are fractional shares, advanced options capabilities, and cryptocurrency access.

Although there are many similarities between Webull and Robinhood, there are also many differences.


What Does Webull Offer That Robinhood Does Not?


Webull's technology allows for much more advanced interaction with the markets than you will find at Robinhood.

Webull's trading platforms go well beyond Robinhood's in terms of complexity, speed, and capability. Charting is on par with many of the industry's top brokers, and the depth of market-related information makes Webull a better tool for accessing the markets overall.

Another feature that Webull traders have access to is a much longer extended hours trading session. In fact, Webull offers the complete session instead of an abbreviated one. You can place trades at Webull from 4 am to 8 pm, every day the markets are open.


robinhood competition


Why Choose Webull?


You would choose Webull over Robinhood for more advanced trading platforms, longer trading sessions, and a better mobile experience. Webull's promotions are also more generous.

Learn more in Webull review »


Open Webull Account



Open WeBull Account


Updated on 5/26/2022.


Ben Wright
About the Author
Ben Wright is an investor, a trader, an educator, and something of an explorer. He spends his days in the markets when he is not teaching or spending time with his family. Ben writes about stockbrokers, markets, investment vehicles, promotional offers, and tools that help investors make the most of their time in the markets.