Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare OptionsHouse vs Robinhood.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. OptionsHouse charges more than Robinhood for placing regular stock trades ($4.95 and $0, respectively). With options, the base fees charged are $4.95 (OptionsHouse) and $0 (Robinhood). Robinhood's per contract rate of $0 is less than OptionsHouse which charges $0.50. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review
Next to commission rates, being able to trade what you want is important. Robinhood offers clients Stock Trading and Options Trading while OptionsHouse offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, OptionsHouse boasts an offering of 12275 mutual funds compared to Robinhood's 0 available funds. Commission free ETFs can also be valuable for customers, with OptionsHouse having the upper hand thanks to its 5 available commission free ETFs compared to Robinhood's offering of N/A.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. OptionsHouse has virtual trading, Robinhood doesn't. Taking a look at mobile trading, Both OptionsHouse and Robinhood offer clients access to an iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Banking is not popular with OptionsHouse and Robinhood as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable. On the whole, when it comes to tools, research, and mobile trading, OptionsHouse finished with awards Best in Class - Mobile Trading, while Robinhood came up with none of these.
Overall, OptionsHouse takes the upper hand with 4.00 stars over Robinhood's 2.50 stars.