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Is Robinhood better than Interactive Brokers? After scoring brokers in nine separate categories for our 2019 review, Interactive Brokers (80.99%) is better than Robinhood (46.99%). While Interactive Brokers is not suitable for casual investors, it leads the industry in international trading and low-cost commissions desired by professional traders.
Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Interactive Brokers 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. Interactive Brokers and Robinhood both cost $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Each option contract then costs $0.70 at Interactive Brokers and $0 at Robinhood. 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 Interactive Brokers offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Interactive Brokers boasts an offering of 11000 mutual funds compared to Robinhood's 0 available funds.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Interactive Brokers makes virtual trading available to clients, while Robinhood does not. For mobile trading, Interactive Brokers and Robinhood both have a iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Clients can have Checking Accounts and Debit Cards at Interactive Brokers while customers at Robinhood can have none of these.
Overall, between Interactive Brokers and Robinhood, Interactive Brokers is the winner.
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. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. 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.