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 4,000 data points, let's compare Robinhood vs TD Ameritrade.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Robinhood and TD Ameritrade both cost $0 per trade. With options, the base fee is $0 for both Robinhood and TD Ameritrade. Option contracts are pricier at TD Ameritrade, costing $0.65 versus $0 at Robinhood. 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 supports Stock Trading and Options Trading while TD Ameritrade supports Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading. Looking at mutual funds, TD Ameritrade boasts an offering of 11949 mutual funds compared to Robinhood's 0 available funds.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. TD Ameritrade has virtual trading, Robinhood doesn't. Taking a look at mobile trading, Robinhood along with TD Ameritrade both support the 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. 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