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Interactive Brokers vs Robinhood 2023

StockBrokers.com

Written by StockBrokers.com

February 23, 2023

Is Interactive Brokers better than Robinhood? After testing 17 of the best online brokers over three months, Interactive Brokers (91.92%) is better than Robinhood (83.65%). Interactive Brokers is a go-to choice for professionals because of its institutional-grade desktop trading platform, high-quality trade executions and rock-bottom margin rates.

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Overall RatingInteractive BrokersRobinhood
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 3.5/5 Stars
Platforms & Tools 5/5 Stars 3/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 2.5/5 Stars
Customer Service 4/5 Stars N/A
Education 4.5/5 Stars 3.5/5 Stars
Ease Of Use 4/5 Stars 5/5 Stars
Winner check_circle
Review Interactive Brokers Review Robinhood Review
Trading FeesInteractive BrokersRobinhood
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) $0.00 N/A
Mutual Fund Trade Fee $14.95 N/A
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.00
Futures (Per Contract) $0.85 N/A
Broker Assisted Trade Fee $30 N/A
Margin RatesInteractive BrokersRobinhood
Margin Rate Under $25,000 4.58% 11.25% info
Margin Rate $25,000 to $49,999.99 4.58% 11.25% info
Margin Rate $50,000 to $99,999.99 4.58% 11.25% info
Margin Rate $100,000 to $249,999.99 4.08% 11.25% info
Margin Rate $250,000 to $499,999.99 4.08% 11.25% info
Margin Rate $500,000 to $999,999.99 4.08% 11.25% info
Margin Rate Above $1,000,000 3.83% 11.25% info
Account FeesInteractive BrokersRobinhood
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $0.00
Account Transfer Out (Partial) $0.00 $100.00
Account Transfer Out (Full) $0.00 $100.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment OptionsInteractive BrokersRobinhood
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares Yes Yes
OTC Stocks Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 6 4
Futures Trading Yes No
Forex Trading No No
Crypto Trading Yes Yes
Crypto Trading - Total Coins 4 17
Mutual Funds (No Load) 10882 0
Mutual Funds (Total) 11160 0
Bonds (US Treasury) Yes No
Bonds (Corporate) Yes No
Bonds (Municipal) Yes No
Advisor Services No No
International Countries (Stocks) 33 0
Order TypesInteractive BrokersRobinhood
Order Type - Market Yes Yes
Order Type - Limit Yes Yes
Order Type - After Hours Yes Yes
Order Type - Stop Yes Yes
Order Type - Trailing Stop Yes Yes
Order Type - OCO Yes No
Order Type - OTO Yes No
Order Type - Broker Assisted Yes No
BeginnersInteractive BrokersRobinhood
Education (Stocks) Yes Yes
Education (ETFs) Yes No
Education (Options) Yes Yes
Education (Mutual Funds) No No
Education (Bonds) Yes No
Education (Retirement) Yes No
Retirement Calculator No No
Investor Dictionary Yes Yes
Paper Trading Yes No
Videos Yes No
Webinars Yes No
Webinars (Archived) Yes No
Progress Tracking Yes No
Interactive Learning - Quizzes Yes No
Stock Trading AppsInteractive BrokersRobinhood
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes Yes
Trading - Stocks Yes Yes
Trading - After-Hours Yes Yes
Trading - Simple Options Yes Yes
Trading - Complex Options Yes Yes
Order Ticket RT Quotes Yes Yes
Order Ticket SRT Quotes Yes Yes
Stock App FeaturesInteractive BrokersRobinhood
Market Movers (Top Gainers) Yes Yes
Stream Live TV Yes No
Videos on Demand Yes No
Stock Alerts Yes Yes
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) Yes No
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization Yes Yes
Watch Lists - Total Fields 640 3
Stock App ChartingInteractive BrokersRobinhood
Charting - After-Hours Yes Yes
Charting - Can Turn Horizontally Yes No
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 97 6
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons No No
Trading PlatformsInteractive BrokersRobinhood
Active Trading Platform Trader Workstation (TWS)
Desktop Trading Platform Yes No
Desktop Platform (Mac) Yes No
Web Trading Platform Yes Yes
Paper Trading Yes No
Trade Journal Yes No
Watch Lists - Total Fields 640 3
Stock Chart FeaturesInteractive BrokersRobinhood
Charting - Adjust Trades on Chart Yes No
Charting - Indicators / Studies 121 6
Charting - Drawing Tools 85 0
Charting - Notes Yes No
Charting - Index Overlays Yes No
Charting - Historical Trades Yes No
Charting - Corporate Events Yes No
Charting - Custom Date Range Yes No
Charting - Custom Time Bars Yes No
Charting - Automated Analysis Yes No
Charting - Save Profiles Yes No
Trade Ideas - Technical Analysis Yes No
Charting - Study Customizations 5 1
Charting - Custom Studies No No
Day TradingInteractive BrokersRobinhood
Streaming Time & Sales Yes No
Streaming TV Yes No
Direct Market Routing - Stocks Yes No
Ladder Trading Yes No
Trade Hot Keys Yes No
Level 2 Quotes - Stocks Yes No
Trade Ideas - Backtesting Yes No
Trade Ideas - Backtesting Adv Yes No
Short Locator Yes No
Order Liquidity Rebates Yes No
Research OverviewInteractive BrokersRobinhood
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes No
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds Yes No
Screener - Stocks Yes No
Screener - ETFs Yes No
Screener - Mutual Funds Yes No
Screener - Bonds Yes No
Misc - Portfolio Allocation Yes Yes
Stock ResearchInteractive BrokersRobinhood
Stock Research - PDF Reports 7 0
Stock Research - Earnings Yes Yes
Stock Research - Insiders Yes No
Stock Research - Social Yes No
Stock Research - News Yes Yes
Stock Research - ESG Yes No
Stock Research - SEC Filings Yes No
ETF ResearchInteractive BrokersRobinhood
ETFs - Strategy Overview Yes Yes
ETF Fund Facts - Inception Date Yes Yes
ETF Fund Facts - Expense Ratio Yes Yes
ETF Fund Facts - Net Assets Yes No
ETF Fund Facts - Total Holdings Yes Yes
ETFs - Top 10 Holdings Yes Yes
ETFs - Sector Exposure Yes Yes
ETFs - Risk Analysis Yes No
ETFs - Ratings Yes No
ETFs - Morningstar StyleMap Yes No
ETFs - PDF Reports Yes No
Mutual Fund ResearchInteractive BrokersRobinhood
Mutual Funds - Strategy Overview Yes No
Mutual Funds - Performance Chart Yes No
Mutual Funds - Performance Analysis Yes No
Mutual Funds - Prospectus Yes No
Mutual Funds - 3rd Party Ratings Yes No
Mutual Funds - Fees Breakdown Yes No
Mutual Funds - Top 10 Holdings Yes No
Mutual Funds - Asset Allocation Yes No
Mutual Funds - Sector Allocation Yes No
Mutual Funds - Country Allocation Yes No
Mutual Funds - StyleMap Yes No
Options TradingInteractive BrokersRobinhood
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes No
Option Chains - Streaming Yes Yes
Option Chains - Total Columns 44 17
Option Chains - Greeks 12 5
Option Chains - Quick Analysis Yes Yes
Option Analysis - P&L Charts Yes Yes
Option Probability Analysis Yes No
Option Probability Analysis Adv Yes No
Option Positions - Greeks Yes Yes
Option Positions - Greeks Streaming Yes Yes
Option Positions - Adv Analysis Yes No
Option Positions - Rolling Yes Yes
Option Positions - Grouping Yes Yes
BankingInteractive BrokersRobinhood
Bank (Member FDIC) No No
Checking Accounts No No
Savings Accounts No No
Credit Cards No No
Debit Cards Yes Yes
Mortgage Loans No No
Customer ServiceInteractive BrokersRobinhood
Phone Support (Prospect Customers) Yes No
Phone Support (Current Customers) Yes Yes
Email Support Yes Yes
Live Chat (Prospect Customers) No No
Live Chat (Current Customers) Yes Yes
24/7 Support No Yes
OverallInteractive BrokersRobinhood
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 3.5/5 Stars
Platforms & Tools 5/5 Stars 3/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 2.5/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Ease Of Use 4/5 Stars 5/5 Stars
Winner check_circle
Review Interactive Brokers Review Robinhood Review
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Interactive Brokers vs Robinhood Comparison

Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare Interactive Brokers vs Robinhood.

Is Interactive Brokers or Robinhood better for beginners?

Interactive Brokers offers more comprehensive new investor education for beginner investors than Robinhood. Interactive Brokers offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Bonds) and Education (Retirement), while Robinhood offers investors access to Education (Stocks) and Education (Options). Neither have Education (Mutual Funds).

What about Interactive Brokers vs Robinhood pricing?

Interactive Brokers and Robinhood charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Interactive Brokers, costing $0.65 per contract versus $0.00 per contract at Robinhood. For a complete commissions summary, see our best brokers for free stock trading guide.

Does Interactive Brokers or Robinhood offer a wider range of investment options?

Interactive Brokers offers investors access to Stock Trading, Fractional Shares, Options Trading, OTC Stocks, Mutual Funds and Futures Trading, while Robinhood offers investors access to Stock Trading, Fractional Shares, Options Trading and OTC Stocks. Neither have Forex Trading and Advisor Services. Looking at Mutual Funds, Robinhood trails Interactive Brokers in its offering of no transaction fee (NTF) mutual funds, with Interactive Brokers offering 4329 and Robinhood offering 0.

Which trading platform is better: Interactive Brokers or Robinhood?

To compare the trading platforms of 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. Debit Cards are available to customers of Interactive Brokers and Robinhood. Neither have Checking Accounts, Savings Accounts, Credit Cards and Mortgage Loans.

Is Interactive Brokers good?

Interactive Brokers is a go-to choice for professionals because of its institutional-grade desktop trading platform, high-quality trade executions and rock-bottom margin rates.

Is Robinhood good?

Robinhood is very easy to use and its educational content is a joy to read. But, in today’s competitive market for your investing dollars, there are several more compelling options among brokerages.

Interactive Brokers vs Robinhood Winner

Overall winner: Interactive Brokers

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