The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers
. This review compares ChoiceTrade vs Robinhood. Is ChoiceTrade or Robinhood a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. ChoiceTrade, with its regular stock trades costing $5, is more expensive than Robinhood's rate of $0 per trade. Looking at trading options, Robinhood's base fee is $N/A while ChoiceTrade's is $5. ChoiceTrade's per contract rate of $0.50 is less than Robinhood which charges $N/A. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews
For our next comparison of these two brokers, being able to trade the way you want is a must. Robinhood supports Stock Trading while ChoiceTrade supports Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, ChoiceTrade offers its clients access to 500 different mutual funds while Robinhood has 0 available funds, a difference of 500. Commission free ETFs can also be a nice plus, which in this case means trading a possible 0 commission free ETFs at both brokers.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. ChoiceTrade offers virtual trading while Robinhood does not. For mobile trading, Robinhood supports the iPhone App, iPad App and Android App while ChoiceTrade supports the none of these. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Unfortunately, Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at ChoiceTrade or Robinhood . On the whole, when it comes to tools, research, and mobile trading, both ChoiceTrade and Robinhood found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Robinhood boasts 2.50 stars versus ChoiceTrade's 2.00 stars.