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Interactive Brokers vs Robinhood 2022

StockBrokers.com

Written by StockBrokers.com

November 02, 2022

Is Interactive Brokers better than Robinhood? After testing 15 of the best online brokers over six months, E*TRADE (92.52%) is better than Interactive Brokers (89.29%). Founded in 1982 as one of the first online brokerages in the United States, E*TRADE highlights include $0 trades, two excellent mobile apps and the Power E*TRADE platform, which is great for beginners, active trading and options trading.

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Overall RatingInteractive BrokersRobinhoodE*TRADE
Overall4.5 Stars3.5 Stars5 Stars
Commissions & Fees4.5 Stars4.5 Stars4.5 Stars
Investment Options5 Stars3 Stars5 Stars
Platforms & Tools4.5 Stars2 Stars4.5 Stars
Mobile Trading Apps4.5 Stars4 Stars5 Stars
Research5 Stars2 Stars4.5 Stars
Customer Service3 StarsN/A4.5 Stars
Education4.5 Stars3 Stars4.5 Stars
Ease Of Use4 Stars5 Stars5 Stars
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ReviewInteractive Brokers ReviewRobinhood ReviewE*TRADE Review
Trading FeesInteractive BrokersRobinhoodE*TRADE
Minimum Deposit$0.00$0.00$0.00
Stock Trades$0.00$0.00$0.00
Penny Stock Fees (OTCCB)$0.00N/A$6.95
Mutual Fund Trade Fee$14.95$19.99
Options (Base Fee)$0.00$0.00$0.00
Options (Per Contract)$0.65$0.00$0.65
Futures (Per Contract)$0.85N/A$1.50
Broker Assisted Trade Fee$30$25
Margin RatesInteractive BrokersRobinhoodE*TRADE
Margin Rate Under $24,999.994.58%9.75%11.95%
Margin Rate $25,000.00 to $49,999.994.58%9.75%11.45%
Margin Rate $50,000.00 to $99,999.994.58%9.75%10.95%
Margin Rate $100,000.00 to $249,999.994.08%9.75%10.45%
Margin Rate $250,000.00 to $499,999.994.08%9.75%9.95%
Margin Rate $500,000.00 to $999,999.994.08%9.75%9.45%
Margin Rate Above $1,000,000.003.83%9.75%8.45%
Account FeesInteractive BrokersRobinhoodE*TRADE
IRA Annual Fee$0.00N/A$0.00
IRA Closure Fee$0.00N/A$0.00
Account Transfer Out (Partial)$0.00$100.00$25.00
Account Transfer Out (Full)$0.00$100.00$75.00
Options Exercise Fee$0.00$0.00$0.00
Options Assignment Fee$0.00$0.00$0.00
Investment OptionsInteractive BrokersRobinhoodE*TRADE
Stock TradingYesYesYes
Margin TradingYesYesYes
Fractional SharesYesYesNo
OTCBB / Pink SheetsYesNoYes
Options TradingYesYesYes
Complex Options Max Legs644
Futures TradingYesNoYes
Forex TradingNoNoNo
Crypto TradingYesYesNo
Crypto Trading - Total Coins4170
Mutual Funds (No Load)1088206486
Mutual Funds (Total)1116007242
Bonds (US Treasury)YesNoYes
Bonds (Corporate)YesNoYes
Bonds (Municipal)YesNoYes
Advisor ServicesNoNoYes
International Countries (Stocks)3300
Order TypesInteractive BrokersRobinhoodE*TRADE
Order Type - MarketYesYesYes
Order Type - LimitYesYesYes
Order Type - After HoursYesYesYes
Order Type - StopYesYesYes
Order Type - Trailing StopYesYesYes
Order Type - OCOYesNoYes
Order Type - OTOYesNoYes
Order Type - Broker AssistedYesNoYes
BeginnersInteractive BrokersRobinhoodE*TRADE
Education (Stocks)YesYesYes
Education (ETFs)YesNoYes
Education (Options)YesYesYes
Education (Mutual Funds)NoNoYes
Education (Bonds)YesNoYes
Education (Retirement)YesNoYes
Retirement CalculatorNoNoYes
Investor DictionaryYesYesYes
Paper TradingYesNoYes
VideosYesNoYes
WebinarsYesNoYes
Webinars (Archived)YesNoYes
Progress TrackingYesNoNo
Interactive Learning - QuizzesYesNoYes
Stock Trading AppsInteractive BrokersRobinhoodE*TRADE
iPhone AppYesYesYes
Android AppYesYesYes
Apple Watch AppYesYesYes
Trading - StocksYesYesYes
Trading - After-HoursYesYesYes
Trading - Simple OptionsYesYesYes
Trading - Complex OptionsYesYesYes
Order Ticket RT QuotesYesYesYes
Order Ticket SRT QuotesYesYesYes
Stock App FeaturesInteractive BrokersRobinhoodE*TRADE
Market Movers (Top Gainers)YesYesYes
Stream Live TVYesNoYes
Videos on DemandYesNoNo
Stock AlertsYesYesYes
Option Chains ViewableYesYesYes
Watch List (Real-time)YesYesYes
Watch List (Streaming)YesNoYes
Watch Lists - Create & ManageYesYesYes
Watch Lists - Column CustomizationYesYesYes
Watch Lists - Total Fields640395
Stock App ChartingInteractive BrokersRobinhoodE*TRADE
Charting - After-HoursYesYesYes
Charting - Can Turn HorizontallyYesNoYes
Charting - Multiple Time FramesYesYesYes
Charting - Technical Studies97610
Charting - Study CustomizationsYesYesYes
Charting - Stock ComparisonsNoNoYes
Trading PlatformsInteractive BrokersRobinhoodE*TRADE
Active Trading PlatformTrader Workstation (TWS)Power E*TRADE
Desktop Trading PlatformYesNoNo
Desktop Platform (Mac)YesNoNo
Web Trading PlatformYesYesYes
Paper TradingYesNoYes
Trade JournalYesNoNo
Watch Lists - Total Fields640395
Stock Chart FeaturesInteractive BrokersRobinhoodE*TRADE
Charting - Adjust Trades on ChartYesNoYes
Charting - Indicators / Studies1216119
Charting - Drawing Tools85031
Charting - NotesYesNoYes
Charting - Index OverlaysYesNoYes
Charting - Historical TradesYesNoYes
Charting - Corporate EventsYesNoYes
Charting - Custom Date RangeYesNoYes
Charting - Custom Time BarsYesNoNo
Charting - Automated AnalysisYesNoYes
Charting - Save ProfilesYesNoYes
Trade Ideas - Technical AnalysisYesNoYes
Charting - Study Customizations516
Charting - Custom StudiesNoNoNo
Day TradingInteractive BrokersRobinhoodE*TRADE
Streaming Time & SalesYesNoYes
Streaming TVYesNoYes
Direct Market Routing - StocksYesNoYes
Ladder TradingYesNoNo
Trade Hot KeysYesNoYes
Level 2 Quotes - StocksYesNoYes
Trade Ideas - BacktestingYesNoNo
Trade Ideas - Backtesting AdvYesNoNo
Short LocatorYesNoNo
Order Liquidity RebatesYesNoNo
Research OverviewInteractive BrokersRobinhoodE*TRADE
Research - StocksYesYesYes
Research - ETFsYesYesYes
Research - Mutual FundsYesNoYes
Research - Pink Sheets / OTCBBYesYesYes
Research - BondsYesNoYes
Screener - StocksYesNoYes
Screener - ETFsYesNoYes
Screener - Mutual FundsYesNoYes
Screener - BondsYesNoYes
Misc - Portfolio AllocationYesYesYes
Stock ResearchInteractive BrokersRobinhoodE*TRADE
Stock Research - PDF Reports706
Stock Research - EarningsYesYesYes
Stock Research - InsidersYesNoYes
Stock Research - SocialYesNoYes
Stock Research - NewsYesYesYes
Stock Research - ESGYesNoNo
Stock Research - SEC FilingsYesNoYes
ETF ResearchInteractive BrokersRobinhoodE*TRADE
ETFs - Strategy OverviewYesYesYes
ETF Fund Facts - Inception DateYesYesYes
ETF Fund Facts - Expense RatioYesYesYes
ETF Fund Facts - Net AssetsYesNoYes
ETF Fund Facts - Total HoldingsYesYesYes
ETFs - Top 10 HoldingsYesYesYes
ETFs - Sector ExposureYesYesYes
ETFs - Risk AnalysisYesNoYes
ETFs - RatingsYesNoYes
ETFs - Morningstar StyleMapYesNoYes
ETFs - PDF ReportsYesNoYes
Mutual Fund ResearchInteractive BrokersRobinhoodE*TRADE
Mutual Funds - Strategy OverviewYesNoYes
Mutual Funds - Performance ChartYesNoNo
Mutual Funds - Performance AnalysisYesNoYes
Mutual Funds - ProspectusYesNoYes
Mutual Funds - 3rd Party RatingsYesNoYes
Mutual Funds - Fees BreakdownYesNoYes
Mutual Funds - Top 10 HoldingsYesNoYes
Mutual Funds - Asset AllocationYesNoYes
Mutual Funds - Sector AllocationYesNoYes
Mutual Funds - Country AllocationYesNoYes
Mutual Funds - StyleMapYesNoYes
Options TradingInteractive BrokersRobinhoodE*TRADE
Option Chains - Basic ViewYesYesYes
Option Chains - Strategy ViewYesNoYes
Option Chains - StreamingYesYesYes
Option Chains - Total Columns441731
Option Chains - Greeks1255
Option Chains - Quick AnalysisYesYesYes
Option Analysis - P&L ChartsYesYesYes
Option Probability AnalysisYesNoYes
Option Probability Analysis AdvYesNoYes
Option Positions - GreeksYesYesYes
Option Positions - Greeks StreamingYesYesYes
Option Positions - Adv AnalysisYesNoYes
Option Positions - RollingYesYesYes
Option Positions - GroupingYesYesYes
BankingInteractive BrokersRobinhoodE*TRADE
Bank (Member FDIC)NoNoYes
Checking AccountsNoNoYes
Savings AccountsNoNoYes
Credit CardsNoNoYes
Debit CardsYesYesYes
Mortgage LoansNoNoYes
Customer ServiceInteractive BrokersRobinhoodE*TRADE
Phone Support (Prospect Customers)YesNoYes
Phone Support (Current Customers)YesYesYes
Email SupportYesYesYes
Live Chat (Prospect Customers)NoNoNo
Live Chat (Current Customers)YesYesYes
24/7 SupportNoYesYes
OverallInteractive BrokersRobinhoodE*TRADE
Overall4.5 Stars3.5 Stars5 Stars
Commissions & Fees4.5 Stars4.5 Stars4.5 Stars
Investment Options5 Stars3 Stars5 Stars
Platforms & Tools4.5 Stars2 Stars4.5 Stars
Mobile Trading Apps4.5 Stars4 Stars5 Stars
Research5 Stars2 Stars4.5 Stars
Education4.5 Stars3 Stars4.5 Stars
Ease Of Use4 Stars5 Stars5 Stars
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ReviewInteractive Brokers ReviewRobinhood ReviewE*TRADE Review
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Interactive Brokers vs Robinhood Comparison

Comparing brokers side by side is no easy task. For our 2022 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?

E*TRADE offers more comprehensive new investor education for beginner investors than Interactive Brokers. 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, OTCBB / Pink Sheets, Mutual Funds and Futures Trading, while Robinhood offers investors access to Stock Trading, Fractional Shares and Options Trading, 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 E*TRADE 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?

In 2022, Interactive Brokers remains our top pick for professionals because of its institutional-grade desktop trading platform and rock-bottom margin rates. Professionals aside, Interactive Brokers also appeals to active traders and casual investors with $0 trades and a user-friendly web platform.

Is Robinhood good?

Robinhood is very easy to use; however, now that all online brokers offer $0 stock and ETF trades, Robinhood's lack of trading tools and research leaves it a step behind the competition.

Interactive Brokers vs Robinhood Winner

Overall winner: E*TRADE

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