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ChoiceTrade vs Robinhood 2020

Is ChoiceTrade better than Robinhood? After testing 15 of the best online brokers over five months, Robinhood (62.62%) is better than ChoiceTrade (62.57%). Robinhood used to shine thanks to its easy-to-use mobile app and $0 trades. However, today, all of the largest online brokers offer free stock and ETF trades. As a result, it is much more difficult for Robinhood to outduel the competition.

Overall Rating

Feature ChoiceTrade Robinhood
Overall 3 3
ChoiceTrade Review Robinhood Review

Trading Fees

Feature ChoiceTrade Robinhood
Minimum Deposit $0.00 $0.00
Stock Trade Fee (per trade) $0.00 $0.00
ETF Trade Fee $0.00 $0.00
Options Base Fee $0.00 $0.00
Options Per Contract Fee $0.40 $0.00
Mutual Fund Trade Fee N/A N/A
Broker Assisted Trades Fee $30.00 $0.00
Commissions & Fees 4.5 4.5
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Margin Rates

Feature ChoiceTrade Robinhood
Under $24,999.99 7.75% 5.00%
$25,000.00 to $49,999.99 7.75% 5.00%
$50,000.00 to $99,999.99 7.75% 5.00%
$100,000.00 to $249,999.99 7.75% 5.00%
$250,000.00 to $499,999.99 7.75% 5.00%
$500,000.00 to $999,999.99 8.25% 5.00%
Above $1,000,000.00 8.25% 5.00%
Commissions & Fees 4.5 4.5
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Account Fees

Feature ChoiceTrade Robinhood
IRA Annual Fee $50.00 $0.00
IRA Closure Fee $50.00 $0.00
Returned ACH Fee $40.00 $9.00
Returned Wire Fee $40.00 $9.00
Stock Certificate Processing Fee N/A N/A
Stock Certificate Delivery Fee N/A N/A
Paper Statement Fee $5.00 $5.00
Paper Confirmation Fee $1.00 $2.00
Domestic Wire Fee $35.00 $25.00
International Wire Fee $60.00 $50.00
Commissions & Fees 4.5 4.5

Investment Options

Feature ChoiceTrade Robinhood
Stock Trading
Yes Yes
Fractional Shares
No No
OTCBB / Pink Sheets
Yes No
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
No No
Forex Trading
No No
Commission-Free ETFs All all
Mutual Funds (No Load)
0 0
Mutual Funds (Total)
0 0
Bonds (US Treasury)
No No
Bonds (Corporate)
No No
Bonds (Municipal)
No No
Interest Sharing
No No
Advisor Services
No No
International Trading
No No
Offering of Investments 2.5 2
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Order Types

Feature ChoiceTrade Robinhood
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes No
Order Type - MultiContingent
Yes No
Order Type - OCO
No No
Order Type - OTO
No No
Order Type - OTOCO
No No
Offering of Investments 2.5 2
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Trading Platforms

Feature ChoiceTrade Robinhood
Desktop Platform (Windows)
Yes No
Desktop Platform (Mac)
Yes No
Web Platform
Yes Yes
Paper Trading
Yes No
Trade Journal
No No
Watch Lists - Total Fields
19 7
Heat Mapping
Yes No
AI Assistant Bot
No No
Platforms & Tools 3 2
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Charting Features

Feature ChoiceTrade Robinhood
Charting - Trade Off Chart
No No
Charting - Indicators / Studies
42 5
Charting - Drawing Tools
4 0
Charting - Historical Trades
Yes No
Charting - Corporate Events
Yes No
Charting - Automated Analysis
Yes No
Charting - Save Profiles
Yes No
Charting - Study Customizations
2 2
Charting - Custom Studies
No No
Platforms & Tools 3 2
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Day Trading

Feature ChoiceTrade Robinhood
Stock Alerts - Basic Fields
No No
Stock Alerts - Advanced Fields
No No
Streaming Time & Sales
Yes No
Streaming TV
No No
Direct Market Routing - Stocks
No No
Direct Market Routing - Options
No No
Ladder Trading
No No
Trade Hot Keys
No No
Level 2 Quotes - Stocks
Yes No
Level 2 Quotes - Options
No No
Trade Ideas - Backtesting
Yes No
Short Locator
No No
Order Liquidity Rebates
No No
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Mobile Trading Apps

Feature ChoiceTrade Robinhood
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
No Yes
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
No No
Trading - Mutual Funds
No No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes
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Mobile App Features

Feature ChoiceTrade Robinhood
Watch List Syncing
Yes Yes
Stock Alerts
No Yes
Charting - After Hours
Yes Yes
Charting - Drawing
No No
Charting - Study Customizations
Yes No
Heatmapping
Yes No
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 3.5 4
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Research Overview

Feature ChoiceTrade Robinhood
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
No No
Research - Pink Sheets / OTCBB
Yes No
Research - Fixed Income
Yes No
Screener - Stocks
No No
Screener - ETFs
No No
Screener - Mutual Funds
No No
Screener - Options
No No
Screener - Bonds
No No
Misc - Portfolio Builder
No No
Misc - Portfolio Allocation
No Yes
Research 2 2
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Stock Research

Feature ChoiceTrade Robinhood
Stock Research - Reports
0 0
Stock Research - Earnings
Yes Yes
Stock Research - Insiders
Yes No
Stock Research - Metric Comp
No No
Stock Research - SEC Filings
Yes No
Stock Research - Social
No No
Stock Research - Balance Sheet
Yes No
Stock Research - Cash Flows
Yes No
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 2 2
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ETF Research

Feature ChoiceTrade Robinhood
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
No No
ETFs - Sector Exposure
No No
ETFs - Risk Analysis
No No
ETFs - Performance Analysis
No Yes
ETFs - Ratings
No No
ETFs - Morningstar StyleMap
No No
ETFs - Reports
No No
Research 2 2
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Mutual Fund Research

Feature ChoiceTrade Robinhood
Mutual Funds - Strategy Overview
No No
Mutual Funds - Prospectus
No No
Mutual Funds - Reports
No No
Mutual Funds - Fees Breakdown
No No
Mutual Funds - Top 10 Holdings
No No
Mutual Funds - Asset Allocation
No No
Mutual Funds - Sector Allocation
No No
Mutual Funds - Country Allocation
No No
Mutual Funds - StyleMap
No No
Mutual Funds - 3rd Party Ratings
No No
Research 2 2
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Options Trading

Feature ChoiceTrade Robinhood
Option Chains - Streaming
Yes No
Option Chains - Total Columns
18 6
Option Chains - Greeks
4 5
Option Chains - Quick Analysis
Yes No
Option Analysis - P&L Charts
Yes No
Option Probability Analysis
Yes No
Option Probability Analysis Adv
Yes No
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes No
Option Positions - Rolling
Yes No
Option Positions - Grouping
Yes No
Platforms & Tools 3 2
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Beginners

Feature ChoiceTrade Robinhood
Education (Stocks)
No Yes
Education (ETFs)
No No
Education (Options)
Yes Yes
Education (Mutual Funds)
No No
Education (Fixed Income)
No No
Education (Retirement)
No No
Paper Trading
Yes No
Videos
No No
Webinars (Monthly Avg)
0 0
Webinars (Archived)
No No
Live Seminars
No No
Progress Tracking
No No
Interactive Learning - Quizzes
No No
Investor Magazine
No No
Education 1.5 3
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Banking

Feature ChoiceTrade Robinhood
Retail Locations
0 0
Member FDIC
No No
Checking Accounts
No No
Savings Accounts
No No
Credit Cards
No No
Debit Cards
No No
Mortgage Loans
No No
No Fee Banking
No No
Banking 0.5 0.5

Overall

Feature ChoiceTrade Robinhood
ChoiceTrade Review Robinhood Review
Overall 3 3
Winner check_circle

Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker. Yielding a database of over 4,000 data points, let's compare ChoiceTrade vs Robinhood.

To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. ChoiceTrade and Robinhood have equal fees for trading stocks (equities), $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Robinhood's per contract rate of $0 is less than ChoiceTrade which charges $0.40. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.

Next to commission rates, being able to trade what you want is important. ChoiceTrade alongside Robinhood offer clients Stock Trading and Options Trading. Looking at mutual funds, both ChoiceTrade and Robinhood provide clients with access to 0 total mutual funds.

Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. ChoiceTrade offers virtual trading while Robinhood does not. Taking a look at mobile trading, ChoiceTrade supports the iPhone App and Android App while Robinhood supports the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Banking is not popular with ChoiceTrade and Robinhood as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable.

Overall, between ChoiceTrade and Robinhood, Robinhood is the winner.

ChoiceTrade Review
Robinhood Review



All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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