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Robinhood vs ChoiceTrade 2019

The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.

Is Robinhood better than ChoiceTrade? After scoring brokers in nine separate categories for our 2019 review, Robinhood (46.99%) is better than ChoiceTrade (45.72%). Robinhood makes trading simple for beginners by offering an easy-to-use mobile app and $0 stock, options, ETF, and cryptocurrency trades. However, Robinhood makes money by accepting payment for order flow. Furthermore, few trading tools are offered, and there is no phone support.

Overall Rating

Feature Robinhood ChoiceTrade
Overall 2.5 2.5
Robinhood Review ChoiceTrade Review

Trading Fees

Feature Robinhood ChoiceTrade
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 $5.00
Options Per Contract Fee $0.00 $0.15
Mutual Fund Trade Fee N/A N/A
Broker Assisted Trades Fee $0.00 $30.00
Commissions & Fees 4.5 3.5
Winner check_circle

Margin Rates

Feature Robinhood ChoiceTrade
Under $24,999.99 5.00% 8.25%
$25,000.00 to $49,999.99 5.00% 8.25%
$50,000.00 to $99,999.99 5.00% 8.25%
$100,000.00 to $249,999.99 5.00% 8.25%
$250,000.00 to $499,999.99 5.00% 8.25%
$500,000.00 to $999,999.99 5.00% 8.25%
Above $1,000,000.00 5.00% 8.25%
Commissions & Fees 4.5 3.5
Winner check_circle

Account Fees

Feature Robinhood ChoiceTrade
IRA Annual Fee $0.00 $50.00
IRA Closure Fee $0.00 $50.00
Returned ACH Fee $9.00 $40.00
Returned Wire Fee $9.00 $40.00
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 $2.00 $1.00
Domestic Wire Fee $25.00 $35.00
International Wire Fee $50.00 $60.00
Commissions & Fees 4.5 3.5

Investment Options

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

Order Types

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

Trading Platforms

Feature Robinhood ChoiceTrade
Desktop Platform (Windows)
No Yes
Desktop Platform (Mac)
No Yes
Web Platform
Yes Yes
Paper Trading
No Yes
Trade Journal
No No
Watch Lists - Total Fields
7 4
Two-Factor Authentication Login
Yes No
Heat Mapping
No No
Platforms & Tools 1 2
Winner check_circle

Charting Features

Feature Robinhood ChoiceTrade
Charting - Trade Off Chart
No No
Charting - Indicators / Studies
0 20
Charting - Drawing Tools
0 0
Charting - Historical Trades
No No
Charting - Corporate Events
No No
Charting - Automated Analysis
No Yes
Charting - Save Profiles
No No
Charting - Study Customizations
0 1
Charting - Custom Studies
No No
Platforms & Tools 1 2
Winner check_circle

Day Trading

Feature Robinhood ChoiceTrade
Stock Alerts - Basic Fields
No No
Stock Alerts - Advanced Fields
No No
Streaming Time & Sales
No Yes
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
No Yes
Level 2 Quotes - Options
No No
Trade Ideas - Backtesting
No No
Short Locator
No No
Client Liquidity Rebates
No No
Winner check_circle

Mobile Trading Apps

Feature Robinhood ChoiceTrade
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes No
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 No
Trading - Option Rolling
No No
Touch / Face ID
Yes No
Winner check_circle

Mobile App Features

Feature Robinhood ChoiceTrade
Watch List Syncing
Yes Yes
Stock Alerts - Basic Fields
Yes No
Charting - After Hours
Yes Yes
Charting - Drawing
No No
Charting - Study Customizations
No No
Customizable Homescreen
No No
Heatmapping
No No
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 3.5 2
Winner check_circle

Research Overview

Feature Robinhood ChoiceTrade
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
No No
Research - Pink Sheets / OTCBB
No Yes
Research - Fixed Income
No Yes
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
Yes No
Research 1 1.5
Winner check_circle

Stock Research

Feature Robinhood ChoiceTrade
Stock Research - Reports
0 0
Stock Research - Earnings
Yes Yes
Stock Research - Insiders
No Yes
Stock Research - Metric Comp
No No
Stock Research - SEC Filings
No Yes
Stock Research - Social
No No
Stock Research - Balance Sheet
No Yes
Stock Research - Cash Flows
No Yes
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 1 1.5
Winner check_circle

ETF Research

Feature Robinhood ChoiceTrade
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
No No
ETFs - Sector Exposure
No No
ETFs - Risk Analysis
No No
ETFs - Performance Analysis
Yes No
ETFs - Ratings
No No
ETFs - Morningstar StyleMap
No No
ETFs - Reports
No No
Research 1 1.5
Winner check_circle

Mutual Fund Research

Feature Robinhood ChoiceTrade
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 1 1.5
Winner check_circle

Options Trading

Feature Robinhood ChoiceTrade
Option Chains - Streaming
No Yes
Option Chains - Total Columns
5 11
Option Chains - Greeks
0 1
Option Chains - Quick Analysis
No Yes
Option Analysis - P&L Charts
No Yes
Option Probability Analysis
No Yes
Option Probability Analysis Adv
No No
Option Positions - Greeks
No No
Option Positions - Adv Analysis
No No
Option Positions - Rolling
No No
Option Positions - Grouping
No Yes
Platforms & Tools 1 2
Winner check_circle

Beginners

Feature Robinhood ChoiceTrade
Has Education - Stocks
Yes No
Has Education - ETFs
No No
Has Education - Options
Yes Yes
Has Education - Mutual Funds
No No
Has Education - Fixed Income
No No
Has Education - Retirement
No No
Paper Trading
No Yes
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 2 1
Winner check_circle

Banking

Feature Robinhood ChoiceTrade
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
Winner check_circle

Overall

Feature Robinhood ChoiceTrade
Robinhood Review ChoiceTrade Review
Overall 2.5 2.5
Winner check_circle
Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare ChoiceTrade vs Robinhood to determine which broker is best. Let's dive in.

First, we will break down the commission charges of both brokers for placing stock and options trades. ChoiceTrade and Robinhood both cost $0 per trade. With options, the base fees charged are $5 (ChoiceTrade) and $0 (Robinhood). Robinhood's per contract rate of $0 is less than ChoiceTrade which charges $0.15. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews.

Next, investors want to make sure they can trade the investment vehicle they want. ChoiceTrade and Robinhood provide clients with Stock Trading and Options Trading. As far as mutual funds go, both brokers offer the same number of mutual funds, 0.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. ChoiceTrade offers virtual trading while Robinhood does not. For mobile trading, ChoiceTrade offer clients access to an iPhone App and Android App while Robinhood has an iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. 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 02/18/2019 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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