TD Ameritrade vs Robinhood Review
The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.
Is TD Ameritrade better than Robinhood? After scoring brokers in nine separate categories for our 2019 review, TD Ameritrade (86.98%) is better than Robinhood (46.99%). The extra cost of trading with TD Ameritrade is worth every cent – the brokerage delivers fantastic platforms, research, mobile apps, education, and customer service. This outstanding all-round experience makes TD Ameritrade our No. 1 overall broker in 2019.
First, we will break down the commission charges of both brokers for placing stock and options trades. TD Ameritrade, with its regular stock trades costing $6.95, is more expensive than Robinhood's rate of $0 per trade. Looking at trading options, Robinhood's base fee is $0 while TD Ameritrade's is $6.95. Each option contract then costs $0.75 at TD Ameritrade and $0 at Robinhood. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews.
Next, investors want to make sure they can trade the investment vehicle they want. Robinhood provides its clients with Stock Trading and Options Trading while TD Ameritrade provides clients access to Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading. As far as mutual funds go, TD Ameritrade offers its clients access to 12418 different mutual funds while Robinhood has 0 available funds, a difference of 12,418.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. TD Ameritrade makes virtual trading available to clients, while Robinhood does not. For mobile trading, Robinhood and TD Ameritrade both have a iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts, Debit Cards and Credit Cards are available to clients of TD Ameritrade while Robinhood offers customers none of these.
Overall, between Robinhood and TD Ameritrade, TD Ameritrade is the winner.
TD Ameritrade Review
All pricing data was obtained from a published web site as of 02/18/2019 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.
TD Ameritrade, Inc. and StockBrokers.com are separate, unaffiliated companies and are not responsible for each other’s services and products. View terms.