Is Interactive Brokers better than Robinhood? After testing 15 of the best online brokers over five months, Interactive Brokers (90.58%) is better than Robinhood (62.62%). While Interactive Brokers is not well known for its casual investor offering, it leads the industry with low-cost trading for professionals. Through the Trader Workstation (TWS) platform, Interactive Brokers offers excellent tools and an extensive selection of tradeable securities.
StockBrokers.com is committed to the highest ethical standards and reviews services independently. Advertiser Disclosure
Interactive Brokers vs Robinhood 2020
|
|
|
|
Exclusive Offer
New clients that open an account today receive a special margin rate Open Account
|
||
| Open Account |
Overall Rating
| Feature | Interactive Brokers | Robinhood |
| Overall | ||
| Interactive Brokers Review | Robinhood Review |
Trading Fees
| Feature | Interactive Brokers | Robinhood |
| Minimum Deposit | $0.00 | $0.00 |
| Stock Trade Fee (per trade) | N/A | $0.00 |
| ETF Trade Fee | $0.01 | $0.00 |
| Options Base Fee | $0.00 | $0.00 |
| Options Per Contract Fee | $0.65 | $0.00 |
| Mutual Fund Trade Fee | $14.95 | N/A |
| Broker Assisted Trades Fee | $30.00 | $0.00 |
| Commissions & Fees | ||
| Winner | check_circle |
Margin Rates
| Feature | Interactive Brokers | Robinhood |
| Under $24,999.99 | 1.65% | 5.00% |
| $25,000.00 to $49,999.99 | 1.65% | 5.00% |
| $50,000.00 to $99,999.99 | 1.65% | 5.00% |
| $100,000.00 to $249,999.99 | 1.15% | 5.00% |
| $250,000.00 to $499,999.99 | 1.15% | 5.00% |
| $500,000.00 to $999,999.99 | 1.15% | 5.00% |
| Above $1,000,000.00 | 0.75% | 5.00% |
| Commissions & Fees | ||
| Winner | check_circle |
Account Fees
| Feature | Interactive Brokers | Robinhood |
| IRA Annual Fee | $0.00 | $0.00 |
| IRA Closure Fee | $0.00 | $0.00 |
| Returned ACH Fee | N/A | $9.00 |
| Returned Wire Fee | N/A | $9.00 |
| Stock Certificate Processing Fee | N/A | N/A |
| Stock Certificate Delivery Fee | N/A | N/A |
| Paper Statement Fee | N/A | $5.00 |
| Paper Confirmation Fee | N/A | $2.00 |
| Domestic Wire Fee | $10.00 | $25.00 |
| International Wire Fee | $10.00 | $50.00 |
| Commissions & Fees |
Investment Options
| Feature | Interactive Brokers | Robinhood |
|
Stock Trading |
Yes | Yes |
|
Fractional Shares |
Yes | No |
|
OTCBB / Pink Sheets |
Yes | No |
|
Options Trading |
Yes | Yes |
|
Complex Options Max Legs |
8 | 4 |
|
Futures Trading |
Yes | No |
|
Forex Trading |
No | No |
| Commission-Free ETFs | 96 | all |
|
Mutual Funds (No Load) |
8655 | 0 |
|
Mutual Funds (Total) |
18210 | 0 |
|
Bonds (US Treasury) |
Yes | No |
|
Bonds (Corporate) |
Yes | No |
|
Bonds (Municipal) |
Yes | No |
|
Interest Sharing |
Yes | No |
|
Advisor Services |
No | No |
|
International Trading |
Yes | No |
| Offering of Investments | ||
| Winner | check_circle |
Order Types
| Feature | Interactive Brokers | 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 |
Yes | No |
|
Order Type - OTO |
Yes | No |
|
Order Type - OTOCO |
Yes | No |
| Offering of Investments | ||
| Winner | check_circle |
Trading Platforms
| Feature | Interactive Brokers | Robinhood |
|
Desktop Platform (Windows) |
Yes | No |
|
Desktop Platform (Mac) |
Yes | No |
|
Web Platform |
Yes | Yes |
|
Paper Trading |
Yes | No |
|
Trade Journal |
Yes | No |
|
Watch Lists - Total Fields |
494 | 7 |
|
Heat Mapping |
Yes | No |
|
AI Assistant Bot |
Yes | No |
| Platforms & Tools | ||
| Winner | check_circle |
Charting Features
| Feature | Interactive Brokers | Robinhood |
|
Charting - Trade Off Chart |
Yes | No |
|
Charting - Indicators / Studies |
121 | 5 |
|
Charting - Drawing Tools |
9 | 0 |
|
Charting - Historical Trades |
Yes | No |
|
Charting - Corporate Events |
Yes | No |
|
Charting - Automated Analysis |
No | No |
|
Charting - Save Profiles |
Yes | No |
|
Charting - Study Customizations |
6 | 2 |
|
Charting - Custom Studies |
No | No |
| Platforms & Tools | ||
| Winner | check_circle |
Day Trading
| Feature | Interactive Brokers | Robinhood |
|
Stock Alerts - Basic Fields |
Yes | No |
|
Stock Alerts - Advanced Fields |
No | No |
|
Streaming Time & Sales |
Yes | No |
|
Streaming TV |
Yes | No |
|
Direct Market Routing - Stocks |
Yes | No |
|
Direct Market Routing - Options |
Yes | No |
|
Ladder Trading |
Yes | No |
|
Trade Hot Keys |
Yes | No |
|
Level 2 Quotes - Stocks |
Yes | No |
|
Level 2 Quotes - Options |
Yes | No |
|
Trade Ideas - Backtesting |
Yes | No |
|
Short Locator |
Yes | No |
|
Order Liquidity Rebates |
Yes | No |
| Winner | check_circle |
Mobile Trading Apps
| Feature | Interactive Brokers | Robinhood |
|
iPhone App |
Yes | Yes |
|
Android App |
Yes | Yes |
|
Apple Watch App |
Yes | Yes |
|
Trading - Stocks |
Yes | Yes |
|
Trading - After-Hours |
Yes | Yes |
|
Trading - Conditional Orders |
Yes | No |
|
Trading - Mutual Funds |
Yes | No |
|
Trading - Simple Options |
Yes | Yes |
|
Trading - Complex Options |
Yes | Yes |
|
Trading - Option Rolling |
No | No |
|
Touch / Face ID |
Yes | Yes |
| Winner | check_circle |
Mobile App Features
| Feature | Interactive Brokers | Robinhood |
|
Watch List Syncing |
Yes | Yes |
|
Stock Alerts |
Yes | Yes |
|
Charting - After Hours |
Yes | Yes |
|
Charting - Drawing |
No | No |
|
Charting - Study Customizations |
Yes | No |
|
Heatmapping |
No | No |
|
Stream Live TV |
Yes | No |
|
Barcode Lookup |
No | No |
| Mobile Trading | ||
| Winner | check_circle |
Research Overview
| Feature | Interactive Brokers | Robinhood |
|
Research - Stocks |
Yes | Yes |
|
Research - ETFs |
Yes | Yes |
|
Research - Mutual Funds |
Yes | No |
|
Research - Pink Sheets / OTCBB |
Yes | No |
|
Research - Fixed Income |
Yes | No |
|
Screener - Stocks |
Yes | No |
|
Screener - ETFs |
Yes | No |
|
Screener - Mutual Funds |
No | No |
|
Screener - Options |
Yes | No |
|
Screener - Bonds |
Yes | No |
|
Misc - Portfolio Builder |
Yes | No |
|
Misc - Portfolio Allocation |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Stock Research
| Feature | Interactive Brokers | Robinhood |
|
Stock Research - Reports |
2 | 0 |
|
Stock Research - Earnings |
Yes | Yes |
|
Stock Research - Insiders |
Yes | No |
|
Stock Research - Metric Comp |
Yes | No |
|
Stock Research - SEC Filings |
Yes | No |
|
Stock Research - Social |
Yes | No |
|
Stock Research - Balance Sheet |
Yes | No |
|
Stock Research - Cash Flows |
Yes | No |
|
Stock Research - News |
Yes | Yes |
|
Stock Research - ESG |
Yes | No |
| Research | ||
| Winner | check_circle |
ETF Research
| Feature | Interactive Brokers | Robinhood |
|
ETFs - Strategy Overview |
Yes | Yes |
|
ETFs - Top 10 Holdings |
Yes | No |
|
ETFs - Sector Exposure |
Yes | No |
|
ETFs - Risk Analysis |
Yes | No |
|
ETFs - Performance Analysis |
Yes | Yes |
|
ETFs - Ratings |
Yes | No |
|
ETFs - Morningstar StyleMap |
No | No |
|
ETFs - Reports |
Yes | No |
| Research | ||
| Winner | check_circle |
Mutual Fund Research
| Feature | Interactive Brokers | Robinhood |
|
Mutual Funds - Strategy Overview |
Yes | No |
|
Mutual Funds - Prospectus |
Yes | No |
|
Mutual Funds - Reports |
Yes | No |
|
Mutual Funds - Fees Breakdown |
Yes | No |
|
Mutual Funds - Top 10 Holdings |
Yes | No |
|
Mutual Funds - Asset Allocation |
No | No |
|
Mutual Funds - Sector Allocation |
Yes | No |
|
Mutual Funds - Country Allocation |
Yes | No |
|
Mutual Funds - StyleMap |
Yes | No |
|
Mutual Funds - 3rd Party Ratings |
Yes | No |
| Research | ||
| Winner | check_circle |
Options Trading
| Feature | Interactive Brokers | Robinhood |
|
Option Chains - Streaming |
Yes | No |
|
Option Chains - Total Columns |
37 | 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 | ||
| Winner | check_circle |
Beginners
| Feature | Interactive Brokers | Robinhood |
|
Education (Stocks) |
Yes | Yes |
|
Education (ETFs) |
Yes | No |
|
Education (Options) |
Yes | Yes |
|
Education (Mutual Funds) |
No | No |
|
Education (Fixed Income) |
Yes | No |
|
Education (Retirement) |
No | No |
|
Paper Trading |
Yes | No |
|
Videos |
Yes | No |
|
Webinars (Monthly Avg) |
20 | 0 |
|
Webinars (Archived) |
Yes | No |
|
Live Seminars |
No | No |
|
Progress Tracking |
Yes | No |
|
Interactive Learning - Quizzes |
Yes | No |
|
Investor Magazine |
Yes | No |
| Education | ||
| Winner | check_circle |
Banking
| Feature | Interactive Brokers | Robinhood |
|
Retail Locations |
0 | 0 |
|
Member FDIC |
Yes | No |
|
Checking Accounts |
Yes | No |
|
Savings Accounts |
No | No |
|
Credit Cards |
No | No |
|
Debit Cards |
Yes | Yes |
|
Mortgage Loans |
No | No |
|
No Fee Banking |
Yes | No |
| Banking |
Overall
| Feature | Interactive Brokers | Robinhood |
| Interactive Brokers Review | Robinhood Review | |
| Overall | ||
| Winner | check_circle |
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 Interactive Brokers vs Robinhood.
Is Interactive Brokers or Robinhood better for beginners?
Interactive Brokers is better for beginner investors than Robinhood. Interactive Brokers offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options) and Education (Fixed Income).
What about Interactive Brokers vs Robinhood pricing?
Interactive Brokers and Robinhood charge the same amount for regular stock trades, $0. Looking at options, the base fees charged are the same for both brokers, $0. Option contracts are pricier at Interactive Brokers, costing $0.65 versus $0 at Robinhood. For a complete commissions summary, see our best discount brokers guide.
Does Interactive Brokers or Robinhood offer a wider range of investment options?
Interactive Brokers offers a more diverse selection of investment options than Robinhood. Interactive Brokers offers investors access to Stock Trading, Fractional Shares, OTCBB / Pink Sheets, Options Trading, Mutual Funds, Futures Trading and International Trading. Looking at Mutual Funds, Robinhood trails Interactive Brokers by 18,210 total mutual funds, with Interactive Brokers offering 18210 and Robinhood offering 0.
Which trading platform is better: Interactive Brokers or Robinhood?
To compare the trading platforms of both Interactive Brokers and Robinhood, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Interactive Brokers offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers 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. Checking Accounts and Debit Cards are available to clients of Interactive Brokers while Robinhood offers customers Debit Cards.
Overall, between Interactive Brokers and Robinhood, Interactive Brokers is the better online broker.
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.
