Robinhood vs. E*TRADE: 2023 Comparison
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It’s hard to compare E*TRADE and Robinhood: Both brokers allow investors to trade stocks and ETFs for free. But there's more to differentiate them: Generally speaking, E*TRADE will appeal to investors who want access to a wider range of investments — including index and mutual funds — as well as a high-powered trading platform, deep educational content and 24/7 customer support. Robinhood typically targets investors who prioritize low costs above all else and want an easy-to-use mobile platform.
Here's a look at how E*TRADE and Robinhood stack up against each other:
E*TRADE is best for:
Frequent traders.
Beginner investors.
Research and data.
Retirement planning assistance.
E*TRADE at a glance
Account minimum | $0 |
Stock trading costs | $0 |
Options trades | No base commission; $0.65 per contract (volume discount available) |
Account fees (annual, transfer, closing, inactivity) | No annual or inactivity fee. $75 full transfer out fee; $25 partial |
Number of no-transaction-fee mutual funds | Over 6,500 |
Tradable securities | • Stocks • Bonds • Mutual funds • ETFs • Options • Futures |
Trading platform | Two platforms available for free to all customers: • E-Trade Web • Power E-Trade |
Mobile app | Two apps: • E*TRADE mobile • Power E*TRADE Available on iOS and Android. |
Research and data | Free and extensive, with 10 external providers available at no cost. |
Customer support options (includes how easy it is to find key details on the website) | Phone, email and chat support 24/7; 29 local and 2 national branches |
Robinhood is best for:
Mobile users.
Individual taxable accounts and IRAs.
Margin accounts.
Robinhood at a glance
Account minimum | $0 for brokerage accounts, Robinhood Gold accounts and IRAs. |
Stock trading costs | $0. |
Options trades | $0. Options not currently available in IRAs. |
Account fees (annual, transfer, closing, inactivity) | No annual, inactivity or ACH transfer fees. $100 ACAT outgoing transfer fee. (Robinhood Gold costs $5 a month.). Matching funds in IRAs may be taken back if money is withdrawn after less than five years. |
Tradable securities | • Stocks. • ETFs. • Options. (Not available in IRAs.) • Cryptocurrency. (Not available in IRAs.) • American Depositary Receipts for over 650 global companies. • Fractional shares. |
Crypto availability | 18 coins in 48 states. (Not available in IRAs.) |
Number of no-transaction-fee mutual funds | Not rated. |
Trading platform | Web platform is simple but meets basic investor needs. |
Mobile app | Mobile trading platform includes customizable alerts, news feed, advanced charting and ability to listen live to earnings calls. |
Research and data | News available from Benzinga, Reuters, Bloomberg and WSJ. Gold members have access to research from Morningstar, Nasdaq, Nasdaq Totalview level II Market Data for an additional $5 per month. Portfolio recommendations available for IRAs for no additional charge. |
Customer support options (includes how easy it is to find key details on the website) | Email, social media, chat, in-app request-to-call service 24/7. |
» Compare more options: View our picks for the best stock apps
NerdWallet rating 5.0 /5 | NerdWallet rating 5.0 /5 | NerdWallet rating 5.0 /5 |
Fees $0 per trade for online U.S. stocks and ETFs | Fees $0.005 per share; as low as $0.0005 with volume discounts | Fees $0 per trade |
Account minimum $0 | Account minimum $0 | Account minimum $0 |
Promotion Get $100 when you open a new, eligible Fidelity account with $50 or more. Use code FIDELITY100. Limited time offer. Terms apply. | Promotion Exclusive! US resident opens a new IBKR Pro individual or joint account receives 0.25% rate reduction on margin loans. Tiers apply. | Promotion Get up to $600 or more when you open and fund an E*TRADE account |
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