Top 14 Robinhood Alternatives in 2024 (2024)

Top 14 Robinhood Alternatives in 2024 (1)

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In this guide, explore the top Robinhood alternatives in 2023. These platforms offer a range of advanced features and options for investors and traders.

In investing, Robinhood made a big splash with its commission-free trading. But now, many are looking for other options. Why? People want more choices, better features, and sometimes just a change. Picking the right investment platform is crucial, affecting how you manage your money. We’re here to guide you through 14 Robinhood alternatives. Let’s explore these options so you can find the best fit for your financial journey.

Best Robinhood Alternatives

1. E*TRADE

E*TRADE, a stalwart in the online trading sphere, stands out as a dynamic and versatile platform, making it one of the best Robinhood alternatives. Tailored to meet the needs of a diverse investor base, E*TRADE is particularly well-suited for advanced traders, active day traders, derivatives enthusiasts, and those focused on retirement planning.

The platform’s interface is designed to provide a seamless and powerful trading experience. Whether you’re executing complex trading strategies, engaging in day trading activities, exploring derivatives markets, or planning for long-term retirement goals, E*TRADE offers a comprehensive solution.

Key Features and Benefits:

  • Advanced Trading Capabilities: E*TRADE’s standout feature lies in its advanced trading capabilities. It caters to the needs of seasoned investors who demand sophisticated tools and features to execute complex trading strategies with precision.
  • Day Trading Excellence: For active day traders, E*TRADE is a valuable ally. The platform facilitates rapid transactions, real-time market monitoring, and the execution of timely trades, ensuring day traders have the tools they need for success.
  • Derivatives Trading Empowerment: E*TRADE provides a robust set of tools and resources for derivatives traders. Whether you’re trading options or futures, the platform’s user-friendly interface simplifies the complexities of derivatives trading.
  • Retirement Planning Solutions: Recognizing the significance of retirement planning, E*TRADE offers features and investment options tailored to individuals with long-term financial goals. The platform serves as a versatile tool for those looking to secure their financial future.

Fee Structure and Account Minimums:

E*TRADE’s commitment to cost-effective trading is evident through its transparent fee structure and competitive pricing.

  • Free Trades: The platform offers commission-free trades for stocks, ETFs, and mutual funds, except for a $19.99 transaction fee noted in certain cases.
  • Options Trading Discounts: Options traders benefit from a competitive fee structure, with a charge of $0.65 per contract. Active traders enjoy a reduced rate of $0.50 per contract when executing 30 contracts or more in a quarter.
  • Transparent Fee Policy: E*TRADE maintains transparency in its fee policy, charging $1.50 per side on futures, $1 per bond, and providing free treasuries. This straightforward fee structure aligns with the platform’s commitment to delivering value to investors.
  • Competitive Margin Rates: E*TRADE’s margin rates, set at 8.95%, contribute to its appeal among traders looking to leverage their positions while maintaining cost-effectiveness.

User Experience and Interface:

  • Multi-Platform Trading: E*TRADE offers a flexible trading experience with accessibility on both mobile devices and desktop platforms. This ensures that users can trade on-the-go or from the comfort of their desktops, enhancing the overall user experience.
  • 24/7 Support: Understanding the importance of timely assistance, E*TRADE provides a dedicated 24/7 support line. This commitment to customer service enhances the overall user experience by ensuring that help is available whenever it is needed.
  • Comprehensive Trading Tools: E*TRADE stands out for its array of trading tools, indicators, and charts. These tools empower users to conduct in-depth analyses and make well-informed investment decisions, contributing to an enriched user experience.

2. TD Ameritrade

TD Ameritrade, recognized as one of the top online brokerages, presents a comprehensive platform that serves as one of the best alternatives to Robinhood. Since the shift to a commission-free model in 2019, TD Ameritrade has positioned itself as a robust and versatile trading platform with a myriad of features catering to a diverse range of investors.

Notable Features and Advantages:

  • User-Friendly Interface: TD Ameritrade boasts an intuitively designed platform accessible both on mobile and desktop. The user-friendly interface simplifies navigation, ensuring a seamless experience for investors at all skill levels.
  • Research and Tools: The platform stands out for its suite of tools facilitating stock research and investment exploration. Investors can leverage these resources to gain insights, make informed decisions, and enhance their overall trading strategies.
  • Diverse Investment Opportunities: TD Ameritrade provides a broad spectrum of investment options, catering to all-around, balanced investors. From stocks and options to ETFs, mutual funds, futures, forex, crypto trading, margin trading, and even IPOs, the platform offers a comprehensive suite of choices.
  • Educational Resources: Investors benefit from interactive courses and webcasts, empowering them to expand their knowledge and skills. Whether a newcomer or an experienced trader, TD Ameritrade facilitates continuous learning for all users.
  • 24/7 Customer Support: A robust support system, available 24/7 via phone, text, live chat, and email, ensures users can seek assistance promptly, contributing to a positive and responsive user experience.

Fee Structure and Account Requirements:

  • Zero Platform Fees: TD Ameritrade distinguishes itself with a commitment to a fee-transparent model. Users enjoy the platform’s services without incurring additional fees, making it an attractive and cost-effective option.
  • No Trade Minimums: The platform further enhances accessibility by imposing no trade minimums. This flexibility accommodates investors with varying budgetary considerations.

Comparison with Robinhood:

  • Broader Range of Trading Options: TD Ameritrade surpasses Robinhood in terms of trading options. The platform supports a diverse array of investment instruments, offering users the flexibility to diversify their portfolios according to their unique investment preferences.
  • Comprehensive Trading Features: While both platforms offer commission-free trading, TD Ameritrade goes beyond with a comprehensive set of tools for both fundamental and technical analysis. This empowers users to make well-informed decisions based on a thorough understanding of the market.
  • Educational Focus: TD Ameritrade distinguishes itself with a strong emphasis on investor education. The inclusion of interactive courses and webcasts supports users in becoming more knowledgeable investors, a feature that sets it apart from the simplicity-focused approach of Robinhood.

3. TradeStation

TradeStation stands tall as a cutting-edge platform, combining technical prowess with user-friendly features. Positioned among robust alternatives to Robinhood, it goes beyond conventional offerings, providing an extensive array of investment classes. Let’s delve into the platform’s highlights that make it a standout choice for traders.

Unique Features for Traders:

  • TS GO and TS Select: Two offerings cater to varying preferences – TS GO, recognized for its mobile-only experience, and TS Select, both accompanied by a wealth of educational materials.
  • Pro-Level Trading Platform: Fast and reliable order execution, exceptional charting, technical analysis, and automation technology set a high standard for traders seeking sophisticated tools.
  • Intuitive Interfaces and Advanced Orders: One-click trading, dynamic interfaces, and advanced order types provide unparalleled flexibility and control.
  • Dynamic Sorting and Scanning Tools: RadarScreen for real-time sorting and scanning tools analyze thousands of symbols, empowering traders to identify potential opportunities.
  • Simulated Trading Environment: A powerful environment allows testing ideas and strategies in real-time without risking capital, enhancing skill development.
  • Robust Strategy Development: Build, test, optimize, and automate trading strategies with pre-built components or the EasyLanguage programming language.

Fee Analysis and Comparison:

  • Competitive Pricing: TradeStation offers a transparent and competitive pricing model, including commission-free stock and ETF trades.
  • Fee Comparison: Competitive pricing for options, futures, futures options, and cryptocurrency positions TradeStation as a cost-effective choice. The removal of the TS SELECT minimum enhances accessibility.
  • Real-Time Streaming Data: All platforms offer real-time streaming data, enabling efficient order placement directly from charts or through keyboard shortcuts.

4. Interactive Brokers

In the dynamic world of online trading, Interactive Brokers emerges as a powerhouse, offering a sophisticated blend of advanced tools, diverse assets, and competitive pricing. This makes it one of the best alternatives to Robinhood Let’s delve into the essence of Interactive Brokers.

Advanced Trading Tools:

  • Trader Workstation (TWS): The core of Interactive Brokers’ prowess, TWS, is a comprehensive trading platform designed for professionals. With advanced charting and seamless order execution, it elevates the trading experience.
  • Candlestick Charts and Mobile App: Integrated candlestick charts in TWS provide clarity and analytical insights. The responsive mobile app mirrors the desktop functionality, ensuring traders can execute seamlessly on the go.
  • Market Access and Asset Diversity: Interactive Brokers opens doors to over 150 markets, offering a diverse range of assets beyond stocks and ETFs. From bonds to forex, it caters to traders seeking portfolio diversity.
  • Discover Tool: Unveiling new opportunities, the Discover Tool integrates third-party data, including content from Trading Central. Quickly identify market trends with features like Market Buzz and customize your view with tabs for Technical Insights, Technical Score, and Featured Ideas.

Fees, Margin Rates, and Options:

  • Pricing Plans – IBKR Lite and IBKR Pro: Two plans, no account minimums, and no inactivity fees. IBKR Lite suits lower-level traders with unlimited free orders. IBKR Pro, with a per-share fee of $0.0005-$0.0035, targets professionals, offering bulk discounts and access to commission-free ETFs.
  • Cryptocurrency Trading: Interactive Brokers pioneers cryptocurrency trading with competitive commissions of 0.12% – 0.18%, setting it apart in the crypto arena.
  • Interest Rates and Fundamentals Explorer: Market-leading interest rates up to 4.83%, and Fundamentals Explorer empowers clients with comprehensive data for informed decision-making.

5. Tradier

Tradier presents traders with a platform that distinguishes itself through its unparalleled versatility and customization options. As users delve into Tradier’s platform, they encounter a dynamic landscape of features and modules, making it an ideal alternative of Robinhood. Here’s an exploration of what Tradier’s platform has to offer:

  • Third-Party Modules: The cornerstone of Tradier’s platform lies in its extensive selection of third-party modules. Traders can choose from a myriad of trading platforms, each offering unique tools, research options, and investment choices.
  • Custom API: For users with coding expertise, Tradier opens the door to a world of customization. The REST-based API empowers traders to build their trading applications, allowing for a highly personalized experience.
  • Diverse Trading Options: From stocks and ETFs to options, mutual funds, and bonds, Tradier’s native trading functionality covers a broad range of tradable assets. The availability of additional assets and securities depends on the third-party modules chosen.

Key Features and Benefits:

  • Adaptability: Tradier’s platform is designed to be highly adaptable. With a plethora of optional third-party modules, traders can craft a trading environment that suits their specific preferences and strategies.
  • Coding Possibilities: The platform offers coding enthusiasts the opportunity to create their trading applications. This coding flexibility adds an extra layer of customization, allowing users to tailor their trading experience to a granular level.
  • Comprehensive Tradable Assets: Tradier’s native trading functionality covers a wide array of assets, including stocks, ETFs, options, mutual funds, and bonds. The inclusion of additional assets depends on the third-party modules integrated into the platform.
  • Versatile Third-Party Modules: The third-party modules available on Tradier’s platform span various trading preferences. From visual-focused platforms to those emphasizing social elements or automatic execution of trades, traders can choose modules that align with their strategies.

Fee Structure and Account Types:

  • Account Options: Tradier offers two primary account options—Subscription and Equity and Option. Both accounts feature commission-free trading for stocks and ETFs, aligning with industry standards.
  • Subscription Account: Priced at $10 per month, this account provides commission-free options trading, with a $0.35 contract fee for Single Listed Index Options.
  • Equity and Option Account: This account incurs no monthly fee but charges a $0.35 fee per contract for all option trades.
  • Margin Accounts: Tradier’s margin accounts come with a competitive interest rate of 5.25%.
  • Additional Fees: Traders should be aware of additional fees, including inactivity fees, wire fees, paper statement fees, and broker-assisted trade fees.

6. Webull

Webull, a dynamic investment platform and among the best alternatives to Robinhood, caters to both intermediate and experienced self-directed investors. Offering commission-free trading, its intuitive design strikes a balance between advanced features and user-friendly accessibility.

Advanced Trading Tools:

  • User-Friendly Interface: Webull’s platform blends advanced tools with a user-friendly interface, ensuring efficiency for traders of all experience levels.
  • Real-Time Data and Charting: Access real-time data and advanced charting for U.S.-listed stocks, providing crucial insights for informed and profitable trading.
  • Educational Resources: Webull prioritizes education with trading courses and a simulator, fostering skill development for users at every level.

Fees and Account Types:

  • No Minimum Balance: Webull eliminates minimum balance requirements, promoting inclusivity for investors with varying capital levels.
  • Deposits and Withdrawals: While wire transfers incur fees, ACH transactions have no fees, providing flexible fund management options.
  • Customer Support: Offering chat, email, and phone support ensures prompt assistance for an enhanced user experience.

7. M1 Finance

M1 Finance emerges as a pioneer in the realm of investing, introducing a distinctive platform that amalgamates traditional investment management principles with the innovation of robo-advisory services. The platform’s hallmark feature is its groundbreaking “pie” system, granting users unparalleled control over their investment portfolios.

The Unique “Pie” System:

  • Personalized Asset Allocation: M1 Finance’s onboarding process involves an insightful interview on savings goals and financial standing. Subsequently, users are presented with a suggested “pie,” representing the division of assets in a visually intuitive pie chart.
  • Customized Portfolios: Within the pie system, users can create portfolios with up to 100 investment slices. This innovative approach simplifies the building of diversified portfolios, offering an accessible and user-friendly investment experience.

Empowering Investors with Control:

  • Stock Selection: In a departure from conventional robo-advisors, M1 Finance empowers users to add individual stocks from major exchanges like the New York Stock Exchange and NASDAQ to their customized pies. This level of control fosters a sense of ownership and personalization.
  • Long-Term Investment Focus: M1 Finance aligns itself with a long-term investment philosophy, encouraging users to prioritize regular and consistent investing. The platform automates contributions, streamlining the process and emphasizing a strategic, enduring approach.

Fee-Free Structure and Account Types:

  • Zero Fees or Commissions: A standout feature of M1 Finance is its commitment to a fee-free structure. Users can engage in investing without worrying about commissions, offering a cost-effective solution for long-term savings, making it one of the most accepted Robinhood alternatives.
  • IRA Options: M1 Finance extends its offerings to include Individual Retirement Accounts (IRAs), providing users with an additional avenue for tax-advantaged long-term savings.

8. Public.com

Public.com, established in 2017, transforms investing into a social experience. With commission-free trades, fractional shares from $5, and a unique social trading community, it stands out. Key aspects include:

  • Commission-Free Trading: Public.com pioneers commission-free trading, enhancing accessibility for investors of all levels.
  • Fractional Shares: Investors can buy fractional shares starting at $5, fostering diversification and inclusivity.
  • Social Trading Community: Public.com introduces a social dimension, allowing users to follow companies, share insights, and make portfolios public for collaborative learning.
  • Cryptocurrency Trading: Embracing modern finance, Public.com enables cryptocurrency trading, expanding investment options.

Fees and Offerings:

  • No Trading Fees: Public.com stands out with a fee structure that prioritizes commission-free trades, aligning with a modern investor’s preferences.
  • Deposits and Withdrawals: The platform offers flexible transactions, including bank deposits, credit/debit cards, and peer-to-peer trading.
  • No Minimum Balance: Public.com eliminates minimum balance requirements, emphasizing financial inclusivity.

Comparison with Robinhood:

Public.com differentiates itself from Robinhood through:

  • Community Collaboration: Public.com fosters a vibrant community, encouraging idea-sharing and discussions, and setting it apart in social trading.
  • Public Portfolios: Transparency is key, with users making portfolios public, creating an open environment for shared insights.
  • Cryptocurrency Embrace: Public.com’s inclusion of cryptocurrency trading adds diversity to investment options.

9. Coinbase

Coinbase, a leading cryptocurrency exchange with over 56 million users, has been pivotal in making crypto accessible since 2017. Offering a user-friendly dashboard and holistic portfolio management, it caters to beginners and advanced users alike, making it one of the best Robinhood alternatives.

Key Features:

  • Intuitive Dashboard: Coinbase’s dashboard provides real-time updates on assets and portfolio values, ensuring a seamless trading experience for all users.
  • Portfolio Management: Users benefit from holistic portfolio management, recurring buys, and vault protection for secure fund storage.
  • Incentives for New Users: Coinbase attracts new users with a $5 Bitcoin incentive upon signup, encouraging exploration of the platform.
  • Secure Asset Storage: The platform enables secure storage of digital assets offline, instilling confidence in users about fund safety.
  • Flexible Trading: Coinbase facilitates safe and flexible crypto trading, allowing users to schedule trades at their convenience.
  • Vault Protection: A vault system enhances fund safety, adding an extra layer of security against unforeseen circ*mstances.

Fees and Accessibility:

  • Deposits and Withdrawals: Coinbase supports various methods, including bank deposits and credit/debit cards. Users should be aware of associated fees.
  • Investment Options: With access to over 100 cryptocurrencies, Coinbase provides diverse investment opportunities. Users should consider associated fee structures.
  • Minimum Balance: Coinbase maintains a low monthly balance requirement of $2, enhancing accessibility for users.

Security and Support:

  • Offline Storage: Coinbase prioritizes security with offline asset storage, minimizing the risk of online threats.
  • Customer Support: Support is available through chat and email, though immediate accessibility may vary.
  • User Experiences: With a massive user base, Coinbase is known for reliability and user-friendly features, making it a reliable gateway to the crypto world.

10. Crypto.com

Crypto.com is a cryptocurrency platform that offers services such as a cryptocurrency exchange, wallet, Visa card for spending crypto, and features like earning interest and staking. It also has its native utility token called CRO and has ventured into decentralized finance (DeFi) and Non-Fungible Tokens (NFTs). All these offerings make Crypto.com one of the best Robinhood alternatives.

Cryptocurrency Offerings:

  • Diverse Crypto Selection: Crypto.com distinguishes itself with a comprehensive offering of over 250 cryptocurrencies, providing users with a wide array of options for trading and investment.
  • Crypto-to-Crypto Trading Pairs: While Crypto.com doesn’t provide an official list, major assets like Bitcoin offer numerous crypto-to-crypto trading pairs, enhancing flexibility for users.

Special Features and Benefits:

  • Advanced Features: Crypto.com goes beyond basic crypto trading, offering advanced features like staking functionality, DeFi web browsing, and a stablecoin designed to enable discounts.
  • Resilience in Challenging Times: The platform has demonstrated resilience in the volatile crypto market, maintaining its services during challenging periods, earning it a 5-star rating.
  • User-Friendly Mobile App: Catering to mobile-first users, Crypto.com’s main app, available on iOS and Android, receives high average ratings for providing a user-friendly and efficient mobile trading experience.
  • Transparent Fee Structure: While Crypto.com charges up to 2.99% for transactions using credit/debit cards, its fee structure is transparent, allowing users to understand the costs associated with their trades.
  • Website Transparency: The platform’s website serves as a helpful resource, although improvements could be made to effectively distinguish between services offered by its U.S. and overseas branches.
  • Security Measures: Despite experiencing a breach in 2022, Crypto.com incorporates security features, including insurance for assets, contributing to a safer trading environment.
  • Staking and Rewards: Crypto.com offers staking opportunities with rewards of up to 12.5%, providing an avenue for users to earn rewards on their crypto holdings.

Fee Structure and Account Types:

  • Transaction Fees: Crypto.com does not charge trading fees, but transactions using credit/debit cards can incur fees of up to 2.99%.
  • Minimum Trade: The minimum trade amount varies, with Bitcoin trades requiring $1 or less, offering accessibility to a broad range of investors.
  • Storage and Security: The platform incorporates features such as insurance for assets, addressing security concerns, though it experienced a breach in 2022.
  • Staking Rewards: Users engaging in staking have the opportunity to earn rewards, with percentages reaching up to 12.5%, appealing to those interested in maximizing returns.

11. Acorns

Acorns stands out as a leading micro-investing platform, offering a unique approach to wealth-building. The platform simplifies the investment process, particularly appealing to individuals who may be new to investing or prefer a hands-off strategy. With a focus on accessibility and simplicity, Acorns has gained popularity as a user-friendly investment solution.

Round-Up Investing and Other Features:

  • Round-Up Feature: One of Acorns’ innovative features is the round-up mechanism. Users can link their credit or debit cards to Acorns, allowing the platform to round up everyday transactions to the nearest dollar. The spare change is then automatically invested, providing a convenient way for users to grow their investment portfolio incrementally.
  • Recurring and One-Time Investments: Acorns caters to various investment preferences, enabling users to set up recurring investments or make one-time contributions. This flexibility accommodates users with different financial goals and investment styles.
  • Diverse Investment Options: Acorns offers a range of investment choices, including stocks, ETFs, and bonds. This diversity allows users to build a portfolio that aligns with their risk tolerance and financial objectives.

Fee Analysis and Comparison:

  • Monthly Fee Structure: Acorns operates on a subscription model, charging users a flat monthly fee of $3. This fee covers the services provided by the platform, offering a transparent and predictable cost structure.
  • Fee Comparison: When compared to other investment platforms, Acorns’ fee structure is straightforward. While some investors may initially be deterred by the monthly fee, it provides clarity and eliminates the need to navigate complex fee schedules based on trading activity.
  • Cost-Benefit Analysis: For users who benefit from the round-up feature and appreciate a simplified investment approach, the monthly fee can be outweighed by the platform’s convenience and ease of use.

12. Stash

Stash transforms spare change into financial empowerment.

Investment Options:

  • Fractional Shares: Stash enables investment in portions of high-value stocks, diversifying portfolios with minimal capital.
  • Automated Investments: Perfect for beginners, Stash offers automated options, allowing users to set up recurring investments for a disciplined approach.
  • Personalized Portfolios: Tailor your investments with Stash’s diverse themes and curated portfolios, aligning with your values and financial goals.

Fees and Accounts:

  • Subscription Model: Stash operates on a subscription basis, with Acorns Personal at $3/month and Acorns Family at $5/month. While introducing a cost, users gain access to comprehensive features, including banking services.

13. Fidelity

In the diverse realm of investment platforms, Fidelity stands out as a robust sanctuary catering to investors at every stage. Let’s delve into the layers of Fidelity’s offerings, exploring its platform, unique features, and fee structure.

Platform Overview:

  • Adaptive Services: Fidelity’s comprehensive brokerage service accommodates both beginners and seasoned investors, adapting to their evolving needs.
  • Knowledge Hub: With an extensive array of research and data resources, Fidelity empowers users with the knowledge needed for informed investment decisions.
  • Retirement Planning Support: Beyond trading, Fidelity excels in providing robust assistance for retirement planning, positioning itself as a reliable partner for long-term financial goals.

Distinctive Features:

  • Cryptocurrency Caution: Fidelity focuses on traditional investments, steering clear of the cryptocurrency wave and maintaining strength in conventional investment avenues.
  • User Interface Insight: While lacking the sleek simplicity of platforms like Robinhood, Fidelity compensates with rich functionality and features, ensuring a comprehensive user experience.

Fidelity’s Vital Stats:

  • Account Minimum: $0.
  • Stock Trading Costs: $0.
  • Options Trades: $0.65 per contract.
  • Account Fees: None.
  • Interest Rate on Uninvested Cash: 4.97%.
  • No-Transaction-Fee Mutual Funds: Over 3,300.
  • Tradable Securities: Stocks, bonds, mutual funds, ETFs, fractional shares, options, FOREX, precious metals, Bitcoin, and Ethereum.
  • Trading Platforms: Fidelity.com and Active Trader Pro, both free for all customers.
  • Mobile App: iOS and Android compatible with advanced features.
  • Research and Data: Extensive and free.
  • Customer Support: 24/7 phone, email, and live chat, supported by 200+ local branches.

Fee Analysis:

Fidelity’s commitment to transparency is evident in its fee structure:

  • Account Minimum: $0.
  • Stock Trading Costs: $0.
  • Options Trades: $0.65 per contract.
  • No Account Fees: Fidelity generously waives annual, transfer, closing, and inactivity fees.

14. eToro

Since its founding in 2007, eToro has distinguished itself with an innovative social investing platform. With over 25 million users across 140 countries, the platform’s expansion into the U.S. market in 2022 marked a significant step, offering American users access to stocks and ETFs alongside cryptocurrencies.

Social Trading and Global Presence:

The heart of eToro lies in its social investing platform, featuring the revolutionary CopyTrader tool. This not only facilitates learning for novice traders but also fosters a collaborative community where users share insights and strategies. With a virtual trading account of $100,000 for every user, eToro makes investing accessible globally.

Features Beyond Trading

  • Virtual Trading Playground: eToro goes beyond conventional trading with a $100,000 virtual trading account, allowing users to experiment with strategies using simulated funds. The CopyTrader feature and social connectivity enable users to replicate successful trades and gain insights from millions of portfolios.
  • Advanced Mobile Apps: The mobile apps for iOS and Android offer more than just trading, providing advanced charting, customization, and alerts. This enhances the overall mobile trading experience, making it user-friendly and accessible on the go.
  • Commission-Free Stocks and ETFs: eToro stands out with commission-free trading on stocks and ETFs, a notable advantage in comparison to traditional brokerage models.
  • Cryptocurrency Trading Fees: While stocks and ETFs enjoy commission-free trading, eToro charges a 1% fee for buying or selling cryptocurrencies. Users should consider this fee when engaging in cryptocurrency transactions on the platform.
  • Transparent Fee Structure: eToro maintains transparency with readily available fee information on its website. While its fee structure stands out, users should consider the overall value proposition when comparing platforms.

Final Thoughts

Choosing the right investment platform is all about what suits you best. Whether you prefer the traditional vibe of E*Trade, the modern feel of Webull, or the simplicity of Coinbase, each platform has something unique and you can choose an alternative of Robinhood from the list. Remember to think about what matters to you – like fees and the types of investments offered. Diversifying your platforms can be a smart move, spreading your investments for a more balanced approach. So, explore your options, find what clicks with your goals, and enjoy your investing journey!

ZenLedger can help you easily calculate your crypto taxes, and also find opportunities for you to save money and trade smarter. Get started for free now or learn more about our tax professional prepared plans!
Disclaimer: This material has been prepared for informational purposes only, and is not intended to provide tax, legal, or financial advice. You should consult your tax, legal, and accounting advisors before engaging in any transaction.

Robinhood Alternatives FAQs

1. Is there a better trading app than Robinhood?

Whether an app is better than Robinhood depends on the user’s preferences. However, these are the alternatives to Robinhood.

  • Webull
  • Moomoo
  • Tradier
  • SoFi Invest
  • Public
  • Coinbase
  • Fidelity
  • Stash
  • Acorns
  • M1 Finance
  • Crypto.com
  • 2.What competitors are Robinhood?

    Robinhood has several competitors in the online brokerage and investment app space. Some notable competitors include:
    1. Webull
    2. Moomoo
    3. Tradier
    4. SoFi Invest
    5. Public
    6. Stash
    7. Acorns
    8. M1 Finance
    9. Fidelity
    10. E*TRADE
    11. TD Ameritrade
    12. Charles Schwab
    13. Vanguard
    14. Coinbase (for cryptocurrency trading)

    3. Why is Robinhood so famous?

    Robinhood became famous for pioneering commission-free trading, offering a user-friendly mobile app, introducing fractional shares, and expanding into cryptocurrency trading. Its simplicity, accessibility, and game-like features attracted a large user base, particularly among younger investors. However, controversies and scrutiny have also surrounded the platform, contributing to its mixed reputation.

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    Top 14 Robinhood Alternatives in 2024 (2024)

    FAQs

    Is Robinhood good in 2024? ›

    It's been a fantastic start to 2024 for Robinhood Markets (HOOD 12.23%). As of this writing, shares are up 46% this year. This gain was boosted by Q4 2023 financial results that were certainly well-received by the market. Investor enthusiasm seems to be on the way up with this booming fintech stock.

    Are there better options than Robinhood? ›

    Webull, a dynamic investment platform and among the best alternatives to Robinhood, caters to both intermediate and experienced self-directed investors. Offering commission-free trading, its intuitive design strikes a balance between advanced features and user-friendly accessibility.

    Who is Robinhood's biggest competitor? ›

    Top 10 Robinhood competitors
    • Saxo Bank.
    • Webull.
    • Stash.
    • Horizon Fintex.
    • Freetrade.
    • Ant Group.
    • Varo.
    • Wealthfront.

    What should I switch to from Robinhood? ›

    Alternatives to Robinhood
    • For beginners: Fidelity.
    • Among investment apps: Acorns.
    • For crypto: Crypto.com.
    • For overall similarity: Webull.
    Jan 2, 2024

    What will Robinhood be worth in 2025? ›

    Long-Term Robinhood Markets, Inc. Stock Price Predictions
    YearPredictionChange
    2025$ 17.19-13.23%
    2026$ 14.91-24.72%
    2027$ 12.94-34.68%
    2028$ 11.23-43.32%
    2 more rows

    What are the predictions of the stock market 2024? ›

    The Big Money bulls forecast that the Dow Jones Industrial Average will end 2024 at about 41,231, 9% higher than current levels. Market optimists had a mean forecast of 5461 for the S&P 500 and 17,143 for the Nasdaq Composite —up 9% and 10%, respectively, from where the indexes were trading on May 1.

    Why is Fidelity better than Robinhood? ›

    Fidelity's fee structure is somewhat different, as this platform offers significantly more products and services than Robinhood. Fidelity doesn't charge trading fees or commissions on stocks and ETFs. However, unlike Robinhood, it does charge $0.65 per contract to trade most options.

    Should I use acorns or Robinhood? ›

    Robinhood is less costly to use. Acorns is basically an automatic investor and advisor so it may be more appealing to a less-active investors. Robinhood is an easy-to-use but feature-limited trading platform so it may be more appealing to an active investor. Both only offer users limited options for support.

    Which option is most profitable? ›

    Buying (going long) a call is among the most basic option strategies. It is a relatively low-risk strategy since the maximum loss is restricted to the premium paid to buy the call, while the maximum reward is potentially limitless. However, the odds of the trade being very profitable are typically fairly low.

    Should I use etrade or Robinhood? ›

    The suitability of Robinhood vs. E*TRADE depends in large part on the investments you want to hold. For crypto, options, and fractional share traders, Robinhood may be a good bet. For investors seeking mutual funds, CDs, bonds, and futures, E*TRADE may be the clear choice.

    Which is better eToro or Robinhood? ›

    Overall, eToro slightly edges out Robinhood because it offers more tools and research, and offers investors a trial run with a free Virtual Portfolio demo account.

    Is Webull better than Robinhood? ›

    Choosing Between Webull and Robinhood

    Along with its low-cost products, Webull offers extended hours of trading, free real-time quotes, Nasdaq market data, and 24/7 customer support. Robinhood is best for active investors wanting access to the platform's beta NFT platform and web3 wallet.

    Do people use Robinhood anymore? ›

    Over 10 million people use Robinhood as their primary trading platform.

    Is it safe to leave money in Robinhood? ›

    Your securities and cash are protected by SIPC

    Robinhood Financial LLC and Robinhood Securities, LLC are both members of SIPC, which protects securities for customers of its members up to $500,000 (including $250,000 for claims for cash) for each investing account, including IRAs.

    Is acorn worth it? ›

    Is Acorns Worth it? Acorns charges monthly membership fees, starting at $3 per month. Even though it is a very easy way to get started investing, if you don't make enough purchases each month to round up and set aside enough money, the monthly fee could outweigh the benefit.

    Will 2024 be a good year for the stock market? ›

    Heading into 2024, investors are optimistic the same macroeconomic tailwinds that fueled the stock market's 2023 rally will propel the S&P 500 to new all-time highs in 2024.

    Will stocks go up 2024? ›

    Anthony Denier, CEO of the trading platform Webull, says he believes the stock market will ultimately post a positive return in 2024 as investors anticipate interest rate cuts by the Fed. However, he adds, we probably won't see as big of a rally as we did in 2023.

    What is Robinhood stock price prediction for 2024? ›

    Robinhood Markets Inc - Class A quote is equal to 20.515 USD at 2024-05-24. Based on our forecasts, a long-term increase is expected, the "HOOD" stock price prognosis for 2029-05-18 is 91.306 USD. With a 5-year investment, the revenue is expected to be around +345.07%.

    What are the best stocks to invest in 2024? ›

    Top 10 Stocks to Watch: June 2024
    • GameStop (GME)
    • DocuSign (DOCU)
    • Oracle (ORCL)
    • Carnival (CCL)
    • FedEx (FDX)
    • General Mills (GIS)
    • Micron Technology (MU)
    • CarMax (KMX)
    3 days ago

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