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 $6.95 per stock trade which is $6.95 more than Robinhood which charges customers $0 per trade. With options, the base fees charged are $6.95 (Scottrade) and $0 (Robinhood). Each option contract then costs $0.70 at Scottrade and $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 provides its clients with Stock Trading and Options Trading while Scottrade provides clients access to Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Scottrade offers its clients access to 13599 different mutual funds while Robinhood has 0 available funds, a difference of 13,599. Commission free ETFs can also be a nice plus, which in this case means trading a possible N/A commission free ETFs at both brokers.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Scottrade makes virtual trading available to clients, while Robinhood does not. For mobile trading, Robinhood along with Scottrade both support the 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, unfortunately, neither Robinhood nor Scottrade received awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Scottrade comes out on top with 4.00 stars over Robinhood's 2.50 stars.