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TD Ameritrade vs Robinhood 2023

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Written by StockBrokers.com

April 11, 2023

Is TD Ameritrade better than Robinhood? After testing 17 of the best online brokers over three months, TD Ameritrade (97.39%) is better than Robinhood (83.65%). TD Ameritrade delivers $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners and reliable customer service. This outstanding all-around experience makes TD Ameritrade one of our top overall brokers in 2023, in which it placed among Best in Class in several categories including options trading and best for beginners.

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  • check_box_outline_blankcheck_boxFidelity
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  • check_box_outline_blankcheck_boxTD Ameritrade
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Overall RatingTD AmeritradeRobinhood
Overall 5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 3.5/5 Stars
Platforms & Tools 5/5 Stars 3/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 2.5/5 Stars
Customer Service 4.5/5 Stars N/A
Education 5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review TD Ameritrade Review Robinhood Review
Trading FeesTD AmeritradeRobinhood
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) $6.95 N/A
Mutual Fund Trade Fee Varies N/A
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.00
Futures (Per Contract) $2.25 N/A
Broker Assisted Trade Fee $25 N/A
Margin RatesTD AmeritradeRobinhood
Margin Rate Under $25,000 14.25% info 11.50% info
Margin Rate $25,000 to $49,999.99 13.75% 11.50% info
Margin Rate $50,000 to $99,999.99 12.75% 11.50% info
Margin Rate $100,000 to $249,999.99 12.50% 11.50% info
Margin Rate $250,000 to $499,999.99 12.25% 11.50% info
Margin Rate $500,000 to $999,999.99 Varies info 11.50% info
Margin Rate Above $1,000,000 Varies info 11.50% info
Account FeesTD AmeritradeRobinhood
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $0.00
Account Transfer Out (Partial) $0.00 $100.00
Account Transfer Out (Full) $75.00 $100.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment OptionsTD AmeritradeRobinhood
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares No Yes
OTC Stocks Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading Yes No
Forex Trading Yes No
Crypto Trading No Yes
Crypto Trading - Total Coins 0 17
Mutual Funds (No Load) 3698 0
Mutual Funds (Total) 5876 0
Bonds (US Treasury) Yes No
Bonds (Corporate) Yes No
Bonds (Municipal) Yes No
Advisor Services Yes No
International Countries (Stocks) 0 0
Order TypesTD AmeritradeRobinhood
Order Type - Market Yes Yes
Order Type - Limit Yes Yes
Order Type - After Hours Yes Yes
Order Type - Stop Yes Yes
Order Type - Trailing Stop Yes Yes
Order Type - OCO Yes No
Order Type - OTO Yes No
Order Type - Broker Assisted Yes No
BeginnersTD AmeritradeRobinhood
Education (Stocks) Yes Yes
Education (ETFs) Yes No
Education (Options) Yes Yes
Education (Mutual Funds) Yes No
Education (Bonds) Yes No
Education (Retirement) Yes No
Retirement Calculator Yes No
Investor Dictionary Yes Yes
Paper Trading Yes No
Videos Yes No
Webinars Yes No
Webinars (Archived) Yes No
Progress Tracking Yes No
Interactive Learning - Quizzes Yes No
Stock Trading AppsTD AmeritradeRobinhood
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes Yes
Trading - Stocks Yes Yes
Trading - After-Hours Yes Yes
Trading - Simple Options Yes Yes
Trading - Complex Options Yes Yes
Order Ticket RT Quotes Yes Yes
Order Ticket SRT Quotes Yes Yes
SB Gallery - Mobile Apps
Stock App FeaturesTD AmeritradeRobinhood
Market Movers (Top Gainers) Yes Yes
Stream Live TV Yes No
Videos on Demand Yes No
Stock Alerts Yes Yes
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) Yes No
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization Yes Yes
Watch Lists - Total Fields 514 3
Stock App ChartingTD AmeritradeRobinhood
Charting - After-Hours Yes Yes
Charting - Can Turn Horizontally Yes No
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 400 6
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons Yes No
Trading PlatformsTD AmeritradeRobinhood
Active Trading Platform thinkorswim
Desktop Trading Platform Yes No
Desktop Platform (Mac) Yes No
Web Trading Platform Yes Yes
Paper Trading Yes No
Trade Journal Yes No
Watch Lists - Total Fields 514 3
Stock Chart FeaturesTD AmeritradeRobinhood
Charting - Adjust Trades on Chart Yes No
Charting - Indicators / Studies 429 6
Charting - Drawing Tools 24 0
Charting - Notes Yes No
Charting - Index Overlays Yes No
Charting - Historical Trades Yes No
Charting - Corporate Events Yes No
Charting - Custom Date Range Yes No
Charting - Custom Time Bars Yes No
Charting - Automated Analysis Yes No
Charting - Save Profiles Yes No
Trade Ideas - Technical Analysis Yes No
Charting - Study Customizations 9 1
Charting - Custom Studies Yes No
Day TradingTD AmeritradeRobinhood
Streaming Time & Sales Yes No
Streaming TV Yes No
Direct Market Routing - Stocks Yes No
Ladder Trading Yes No
Trade Hot Keys Yes No
Level 2 Quotes - Stocks Yes No
Trade Ideas - Backtesting Yes No
Trade Ideas - Backtesting Adv Yes No
Short Locator No No
Order Liquidity Rebates No No
Research OverviewTD AmeritradeRobinhood
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes No
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds Yes No
Screener - Stocks Yes No
Screener - ETFs Yes No
Screener - Mutual Funds Yes No
Screener - Bonds Yes No
Misc - Portfolio Allocation Yes Yes
Stock ResearchTD AmeritradeRobinhood
Stock Research - PDF Reports 6 0
Stock Research - Earnings Yes Yes
Stock Research - Insiders Yes No
Stock Research - Social Yes No
Stock Research - News Yes Yes
Stock Research - ESG No No
Stock Research - SEC Filings Yes No
ETF ResearchTD AmeritradeRobinhood
ETFs - Strategy Overview Yes Yes
ETF Fund Facts - Inception Date Yes Yes
ETF Fund Facts - Expense Ratio Yes Yes
ETF Fund Facts - Net Assets Yes No
ETF Fund Facts - Total Holdings No Yes
ETFs - Top 10 Holdings Yes Yes
ETFs - Sector Exposure Yes Yes
ETFs - Risk Analysis Yes No
ETFs - Ratings Yes No
ETFs - Morningstar StyleMap Yes No
ETFs - PDF Reports Yes No
Mutual Fund ResearchTD AmeritradeRobinhood
Mutual Funds - Strategy Overview Yes No
Mutual Funds - Performance Chart Yes No
Mutual Funds - Performance Analysis Yes No
Mutual Funds - Prospectus Yes No
Mutual Funds - 3rd Party Ratings Yes No
Mutual Funds - Fees Breakdown Yes No
Mutual Funds - Top 10 Holdings Yes No
Mutual Funds - Asset Allocation Yes No
Mutual Funds - Sector Allocation Yes No
Mutual Funds - Country Allocation No No
Mutual Funds - StyleMap Yes No
Options TradingTD AmeritradeRobinhood
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes No
Option Chains - Streaming Yes Yes
Option Chains - Total Columns 35 17
Option Chains - Greeks 5 5
Option Chains - Quick Analysis Yes Yes
Option Analysis - P&L Charts Yes Yes
Option Probability Analysis Yes No
Option Probability Analysis Adv Yes No
Option Positions - Greeks Yes Yes
Option Positions - Greeks Streaming Yes Yes
Option Positions - Adv Analysis Yes No
Option Positions - Rolling Yes Yes
Option Positions - Grouping Yes Yes
BankingTD AmeritradeRobinhood
Bank (Member FDIC) No No
Checking Accounts Yes No
Savings Accounts No No
Credit Cards Yes No
Debit Cards Yes Yes
Mortgage Loans No No
Customer ServiceTD AmeritradeRobinhood
Phone Support (Prospect Customers) Yes No
Phone Support (Current Customers) Yes Yes
Email Support Yes Yes
Live Chat (Prospect Customers) Yes No
Live Chat (Current Customers) Yes Yes
24/7 Support Yes Yes
OverallTD AmeritradeRobinhood
Overall 5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 3.5/5 Stars
Platforms & Tools 5/5 Stars 3/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 2.5/5 Stars
Education 5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review TD Ameritrade Review Robinhood Review
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TD Ameritrade vs Robinhood Comparison

Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare TD Ameritrade vs Robinhood.

Is TD Ameritrade or Robinhood better for beginners?

TD Ameritrade offers more comprehensive new investor education for beginner investors than Robinhood. TD Ameritrade offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while Robinhood offers investors access to Education (Stocks) and Education (Options). See our guide to Best Paper Trading Platforms for more.

What about TD Ameritrade vs Robinhood pricing?

TD Ameritrade and Robinhood charge the same amount for regular stock trades, $0.00. Option contracts are pricier at TD Ameritrade, 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 TD Ameritrade or Robinhood offer a wider range of investment options?

TD Ameritrade offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds, Futures Trading, Forex Trading and Advisor Services, while Robinhood offers investors access to Stock Trading, Fractional Shares, Options Trading and OTC Stocks. Looking at Mutual Funds, Robinhood trails TD Ameritrade in its offering of no transaction fee (NTF) mutual funds, with TD Ameritrade offering 3610 and Robinhood offering 0.

Which trading platform is better: TD Ameritrade or Robinhood?

To compare the trading platforms of TD Ameritrade and Robinhood, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TD Ameritrade offers a better experience. With research, TD Ameritrade offers superior market research. Finally, we found TD Ameritrade 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. Checking Accounts, Debit Cards and Credit Cards are offered by TD Ameritrade while Robinhood offers Debit Cards. Neither have Savings Accounts and Mortgage Loans.

Is TD Ameritrade good?

TD Ameritrade delivers $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners and reliable customer service. This outstanding all-around experience makes TD Ameritrade one of our top overall brokers in 2023, in which it placed among Best in Class in several categories including options trading and best for beginners.

Is Robinhood good?

Robinhood is very easy to use and its educational content is a joy to read. But, in today’s competitive market for your investing dollars, there are several more compelling options among brokerages.

TD Ameritrade vs Robinhood Winner

Overall winner: TD Ameritrade

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