The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers
. This review compares Robinhood vs Scottrade. Is Robinhood or Scottrade a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Scottrade charges more than Robinhood for placing regular stock trades ($6.95 and $0, respectively). With options, the base fees charged are $6.95 (Scottrade) and $0 (Robinhood). Option contracts are pricier at Scottrade, costing $0.70 versus $0 at Robinhood. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews
For our next comparison of these two brokers, being able to trade the way you want is a must. Robinhood supports Stock Trading and Options Trading while Scottrade supports Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Scottrade boasts an offering of 13599 mutual funds compared to Robinhood's 0 available funds. Commission free ETFs can also be a nice plus, which is a wash in this comparison as both Robinhood and Scottrade offer N/A commission free ETFs.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Scottrade offers virtual trading while Robinhood does not. For mobile trading, Robinhood and Scottrade both have a iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts, Savings Accounts and Debit Cards are offered by Scottrade while Robinhood offers none of these. On the whole, when it comes to tools, research, and mobile trading, neither Robinhood nor Scottrade were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Scottrade boasts 4.00 stars versus Robinhood's 2.50 stars.