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Robinhood vs ChoiceTrade 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 Robinhood ChoiceTrade
Overall 3 3
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 $0.00
Options Per Contract Fee $0.00 $0.40
Mutual Fund Trade Fee N/A N/A
Broker Assisted Trades Fee N/A $30.00
Commissions & Fees 4.5 4.5
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Margin Rates

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

Investment Options

Feature Robinhood ChoiceTrade
Stock Trading
Yes Yes
Fractional Shares
No No
OTCBB / Pink Sheets
No Yes
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 2.5
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Order Types

Feature Robinhood ChoiceTrade
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes 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 2.5
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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 19
Heat Mapping
No Yes
AI Assistant Bot
No No
Platforms & Tools 2 3
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Charting Features

Feature Robinhood ChoiceTrade
Charting - Trade Off Chart
No No
Charting - Indicators / Studies
5 42
Charting - Drawing Tools
0 4
Charting - Historical Trades
No Yes
Charting - Corporate Events
No Yes
Charting - Automated Analysis
No Yes
Charting - Save Profiles
No Yes
Charting - Study Customizations
2 2
Charting - Custom Studies
No No
Platforms & Tools 2 3
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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 Yes
Short Locator
No No
Order Liquidity Rebates
No No
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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 Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes
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Mobile App Features

Feature Robinhood ChoiceTrade
Watch List Syncing
Yes Yes
Stock Alerts
Yes No
Charting - After Hours
Yes Yes
Charting - Drawing
No No
Charting - Study Customizations
No Yes
Heatmapping
No Yes
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 4 3.5
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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 2 2
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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 2 2
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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 2 2
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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 2 2
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Options Trading

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

Feature Robinhood ChoiceTrade
Education (Stocks)
Yes No
Education (ETFs)
No No
Education (Options)
Yes Yes
Education (Mutual Funds)
No No
Education (Fixed Income)
No No
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 3 1.5
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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
Yes No
Mortgage Loans
No No
No Fee Banking
No No
Banking 0.5 0.5

Overall

Feature Robinhood ChoiceTrade
Robinhood Review ChoiceTrade Review
Overall 3 3
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Comparing brokers side by side is no easy task. For our 2020 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare ChoiceTrade vs Robinhood.

Is ChoiceTrade or Robinhood better for beginners?
Robinhood is better for beginner investors than ChoiceTrade. Robinhood offers investors access to Education (Stocks) and Education (Options).

What about ChoiceTrade vs Robinhood pricing?
ChoiceTrade and Robinhood both cost $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. For a complete commissions summary, see our best discount brokers guide.

Does ChoiceTrade or Robinhood offer a wider range of investment options?
ChoiceTrade offers a more diverse selection of investment options than Robinhood. ChoiceTrade offers investors access to Stock Trading, OTCBB / Pink Sheets and Options Trading. Looking at Mutual Funds, both brokers offer clients access to the same number of mutual funds, 0.

Which trading platform is better: ChoiceTrade or Robinhood?
To compare the trading platforms of both ChoiceTrade and Robinhood, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, ChoiceTrade offers a better experience. With research, ChoiceTrade offers superior market research. Finally, we found Robinhood to provide better mobile trading apps.

Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Debit Cards are available to clients of Robinhood while ChoiceTrade offers customers none of these.

Overall, between ChoiceTrade and Robinhood, Robinhood is the better online broker.

ChoiceTrade Review
Robinhood Review

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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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