Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, we can compare E*TRADE 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. E*TRADE charges $6.95 per stock trade which is $6.95 more than Robinhood which charges customers $0 per trade. With options, the base fees charged are $6.95 (E*TRADE) and $0 (Robinhood). Robinhood's per contract rate of $0 is less than E*TRADE which charges $0.75. 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. Robinhood offers clients Stock Trading and Options Trading while E*TRADE offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Robinhood trails E*TRADE by 8,998 total mutual funds, with E*TRADE offering 8998 and Robinhood offering 0. And, commission free ETFs deserve a comparison, with Robinhood having the upper hand thanks to its 499 available commission free ETFs compared to E*TRADE's offering of 270.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Neither E*TRADE and Robinhood offer virtual trading. For mobile trading, E*TRADE along with Robinhood both support the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts and Debit Cards are offered by E*TRADE while Robinhood offers none of these. All factors considered, when it comes to platform tools, research, and mobile trading, E*TRADE posted awards Best in Class - Research and Best in Class - Mobile Trading in 2018, while Robinhood found itself with none of these.
Overall, E*TRADE takes the upper hand with 4.50 stars over Robinhood's 2.50 stars.