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Interactive Brokers vs Robinhood 2020

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%). Traditionally known for its leading offering of platforms, tools, and pricing for professionals, Interactive Brokers has made significant strides in recent years and today also appeals to casual investors, thanks to $0 trades and its Client Portal web platform.

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Overall Rating

Feature Interactive Brokers Robinhood
Overall 4.5 3
Commissions & Fees 5 4.5
Offering of Investments 4.5 2
Platforms & Tools 4.5 2
Mobile Trading 4.5 4
Research 4 2
Education 4 3
Ease of Use 3 5
Banking 2 0.5
Interactive Brokers Review Robinhood Review
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Trading Fees

Feature Interactive Brokers Robinhood
Minimum Deposit $0.00 $0.00
Stock Trade Fee (per trade) $0.00 $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 N/A

Margin Rates

Feature Interactive Brokers Robinhood
Under $24,999.99 1.59% 5.00%
$25,000.00 to $49,999.99 1.59% 5.00%
$50,000.00 to $99,999.99 1.59% 5.00%
$100,000.00 to $249,999.99 1.29% 5.00%
$250,000.00 to $499,999.99 1.19% 5.00%
$500,000.00 to $999,999.99 1.14% 5.00%
Above $1,000,000.00 0.75% 5.00%

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

Investment Options

Feature Interactive Brokers Robinhood
Stock Trading
Yes Yes
Fractional Shares
Yes Yes
OTCBB / Pink Sheets
Yes No
Options Trading
Yes Yes
Complex Options Max Legs
8 4
Futures Trading
Yes No
Forex Trading
No No
Crypto Trading No Yes
Mutual Funds (No Load)
8734 0
Mutual Funds (Total)
11080 0
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Advisor Services
No No
International Trading
Yes No

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

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

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

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

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

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

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
Yes No
Screener - Options
Yes No
Screener - Bonds
Yes No
Misc - Portfolio Builder
Yes No
Misc - Portfolio Allocation
Yes Yes

Stock Research

Feature Interactive Brokers Robinhood
Stock Research - Reports
3 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

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
Yes No
ETFs - Reports
Yes No

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
Yes 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

Options Trading

Feature Interactive Brokers Robinhood
Option Chains - Streaming
Yes Yes
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 Yes

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

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

Overall

Feature Interactive Brokers Robinhood
Overall 4.5 3
Commissions & Fees 5 4.5
Offering of Investments 4.5 2
Platforms & Tools 4.5 2
Mobile Trading 4.5 4
Research 4 2
Education 4 3
Ease of Use 3 5
Banking 2 0.5
Interactive Brokers Review Robinhood Review
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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 11,080 total mutual funds, with Interactive Brokers offering 11080 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. Clients can have Checking Accounts and Debit Cards at Interactive Brokers while customers at Robinhood can have Debit Cards.

Overall, between Interactive Brokers and Robinhood, Interactive Brokers is the better online broker.

Interactive Brokers Review
Robinhood Review

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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.

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