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TradeStation vs Robinhood 2019
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 Robinhood better than TradeStation? Based on over 4,000 data points from our 2019 annual broker review, TradeStation (71.75%) is better than Robinhood (46.99%). TradeStation is a discount brokerage offering low-cost stock, ETF, options, and futures trades through two excellent trading platforms. While research is limited, TradeStation does offer free streaming real-time data and charges no monthly platform fee for its base flat-fee trading accounts.
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Promo Offer
$5 per Trade plus $0.50 per Contract for Options Open Account
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| Open Account |
Overall Rating
| Feature | TradeStation | Robinhood |
| Overall | ||
| TradeStation Review | Robinhood Review |
Trading Fees
| Feature | TradeStation | Robinhood |
| Minimum Deposit | $500.00 | $0.00 |
| Stock Trade Fee (per trade) | $5.00 | $0.00 |
| ETF Trade Fee | $5.00 | $0.00 |
| Options Base Fee | $5.00 | $0.00 |
| Options Per Contract Fee | $0.50 | $0.00 |
| Mutual Fund Trade Fee | $14.95 | N/A |
| Broker Assisted Trades Fee | $50.00 | $0.00 |
| Commissions & Fees | ||
| Winner | check_circle |
Margin Rates
| Feature |
TradeStation
Open Account |
Robinhood |
| Under $24,999.99 | 9.25% | 5.00% |
| $25,000.00 to $49,999.99 | 9.25% | 5.00% |
| $50,000.00 to $99,999.99 | 8.50% | 5.00% |
| $100,000.00 to $249,999.99 | 8.50% | 5.00% |
| $250,000.00 to $499,999.99 | 8.50% | 5.00% |
| $500,000.00 to $999,999.99 | 5.25% | 5.00% |
| Above $1,000,000.00 | 5.25% | 5.00% |
| Commissions & Fees | ||
| Winner | check_circle |
Account Fees
| Feature | TradeStation | Robinhood |
| IRA Annual Fee | $35.00 | $0.00 |
| IRA Closure Fee | $50.00 | $0.00 |
| Returned ACH Fee | $25.00 | $9.00 |
| Returned Wire Fee | $25.00 | $9.00 |
| Stock Certificate Processing Fee | $150.00 | N/A |
| Stock Certificate Delivery Fee | $15.00 | N/A |
| Paper Statement Fee | $1.00 | $5.00 |
| Paper Confirmation Fee | $1.00 | $2.00 |
| Domestic Wire Fee | $25.00 | $25.00 |
| International Wire Fee | $35.00 | $50.00 |
| Commissions & Fees |
Investment Options
| Feature | TradeStation | Robinhood |
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Stock Trading |
Yes | Yes |
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OTCBB / Pink Sheets |
Yes | No |
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Options Trading |
Yes | Yes |
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Complex Options Max Legs |
4 | 4 |
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Futures Trading |
Yes | No |
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Forex Trading |
No | No |
| Commission-Free ETFs | 0 | all |
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Mutual Funds (No Load) |
887 | 0 |
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Mutual Funds (Total) |
4357 | 0 |
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Bonds (US Treasury) |
Yes | No |
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Bonds (Corporate) |
Yes | No |
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Bonds (Municipal) |
Yes | No |
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Advisor Services |
No | No |
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International Trading |
No | No |
| Offering of Investments | ||
| Winner | check_circle |
Order Types
| Feature | TradeStation | Robinhood |
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Order Type - Market |
Yes | Yes |
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Order Type - Limit |
Yes | Yes |
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Order Type - Stop |
Yes | Yes |
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Order Type - Trailing Stop |
Yes | No |
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Order Type - Contingent |
Yes | No |
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Order Type - MultiContingent |
Yes | No |
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Order Type - OCO |
Yes | No |
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Order Type - OTO |
Yes | No |
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Order Type - OTOCO |
Yes | No |
| Offering of Investments | ||
| Winner | check_circle |
Trading Platforms
| Feature | TradeStation | Robinhood |
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Desktop Platform (Windows) |
Yes | No |
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Desktop Platform (Mac) |
No | No |
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Web Platform |
Yes | Yes |
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Paper Trading |
Yes | No |
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Trade Journal |
No | No |
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Watch Lists - Total Fields |
335 | 7 |
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Two-Factor Authentication Login |
Yes | Yes |
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Heat Mapping |
No | No |
| Platforms & Tools | ||
| Winner | check_circle |
Charting Features
| Feature | TradeStation | Robinhood |
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Charting - Trade Off Chart |
Yes | No |
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Charting - Indicators / Studies |
282 | 0 |
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Charting - Drawing Tools |
23 | 0 |
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Charting - Historical Trades |
Yes | No |
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Charting - Corporate Events |
No | No |
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Charting - Automated Analysis |
No | No |
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Charting - Save Profiles |
Yes | No |
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Charting - Study Customizations |
12 | 0 |
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Charting - Custom Studies |
Yes | No |
| Platforms & Tools | ||
| Winner | check_circle |
Day Trading
| Feature | TradeStation | Robinhood |
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Stock Alerts - Basic Fields |
Yes | No |
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Stock Alerts - Advanced Fields |
Yes | No |
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Streaming Time & Sales |
Yes | No |
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Streaming TV |
No | No |
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Direct Market Routing - Stocks |
Yes | No |
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Direct Market Routing - Options |
Yes | No |
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Ladder Trading |
Yes | No |
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Trade Hot Keys |
Yes | No |
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Level 2 Quotes - Stocks |
Yes | No |
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Level 2 Quotes - Options |
Yes | No |
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Trade Ideas - Backtesting |
Yes | No |
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Short Locator |
Yes | No |
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Client Liquidity Rebates |
Yes | No |
| Winner | check_circle |
Mobile Trading Apps
| Feature | TradeStation | Robinhood |
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iPhone App |
Yes | Yes |
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Android App |
Yes | Yes |
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Apple Watch App |
No | Yes |
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Trading - Stocks |
Yes | Yes |
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Trading - After-Hours |
Yes | Yes |
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Trading - Conditional Orders |
Yes | No |
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Trading - Mutual Funds |
No | No |
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Trading - Simple Options |
Yes | Yes |
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Trading - Complex Options |
Yes | Yes |
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Trading - Option Rolling |
No | No |
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Touch / Face ID |
Yes | Yes |
| Winner | check_circle |
Mobile App Features
| Feature | TradeStation | Robinhood |
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Watch List Syncing |
Yes | Yes |
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Stock Alerts - Basic Fields |
Yes | Yes |
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Charting - After Hours |
Yes | Yes |
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Charting - Drawing |
Yes | No |
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Charting - Study Customizations |
Yes | No |
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Customizable Homescreen |
No | No |
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Heatmapping |
No | No |
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Stream Live TV |
No | No |
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Barcode Lookup |
No | No |
| Mobile Trading | ||
| Winner | check_circle |
Research Overview
| Feature | TradeStation | Robinhood |
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Research - Stocks |
Yes | Yes |
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Research - ETFs |
Yes | Yes |
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Research - Mutual Funds |
No | No |
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Research - Pink Sheets / OTCBB |
Yes | No |
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Research - Fixed Income |
No | No |
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Screener - Stocks |
Yes | No |
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Screener - ETFs |
No | No |
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Screener - Mutual Funds |
No | No |
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Screener - Options |
Yes | No |
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Screener - Bonds |
No | No |
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Misc - Portfolio Builder |
No | No |
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Misc - Portfolio Allocation |
No | Yes |
| Research | ||
| Winner | check_circle |
Stock Research
| Feature | TradeStation | Robinhood |
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Stock Research - Reports |
0 | 0 |
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Stock Research - Earnings |
No | Yes |
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Stock Research - Insiders |
No | No |
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Stock Research - Metric Comp |
No | No |
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Stock Research - SEC Filings |
No | No |
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Stock Research - Social |
No | No |
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Stock Research - Balance Sheet |
No | No |
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Stock Research - Cash Flows |
No | No |
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Stock Research - News |
Yes | Yes |
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Stock Research - ESG |
No | No |
| Research | ||
| Winner | check_circle |
ETF Research
| Feature | TradeStation | Robinhood |
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ETFs - Strategy Overview |
No | Yes |
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ETFs - Top 10 Holdings |
No | No |
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ETFs - Sector Exposure |
No | No |
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ETFs - Risk Analysis |
No | No |
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ETFs - Performance Analysis |
No | Yes |
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ETFs - Ratings |
No | No |
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ETFs - Morningstar StyleMap |
No | No |
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ETFs - Reports |
No | No |
| Research | ||
| Winner | check_circle |
Mutual Fund Research
| Feature | TradeStation | Robinhood |
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Mutual Funds - Strategy Overview |
No | No |
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Mutual Funds - Prospectus |
No | No |
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Mutual Funds - Reports |
No | No |
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Mutual Funds - Fees Breakdown |
No | No |
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Mutual Funds - Top 10 Holdings |
No | No |
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Mutual Funds - Asset Allocation |
No | No |
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Mutual Funds - Sector Allocation |
No | No |
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Mutual Funds - Country Allocation |
No | No |
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Mutual Funds - StyleMap |
No | No |
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Mutual Funds - 3rd Party Ratings |
No | No |
| Research | ||
| Winner | check_circle |
Options Trading
| Feature | TradeStation | Robinhood |
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Option Chains - Streaming |
Yes | No |
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Option Chains - Total Columns |
32 | 5 |
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Option Chains - Greeks |
5 | 0 |
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Option Chains - Quick Analysis |
Yes | No |
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Option Analysis - P&L Charts |
Yes | No |
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Option Probability Analysis |
Yes | No |
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Option Probability Analysis Adv |
Yes | No |
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Option Positions - Greeks |
Yes | No |
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Option Positions - Adv Analysis |
Yes | No |
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Option Positions - Rolling |
Yes | No |
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Option Positions - Grouping |
Yes | No |
| Platforms & Tools | ||
| Winner | check_circle |
Beginners
| Feature | TradeStation | Robinhood |
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Has Education - Stocks |
Yes | Yes |
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Has Education - ETFs |
No | No |
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Has Education - Options |
Yes | Yes |
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Has Education - Mutual Funds |
No | No |
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Has Education - Fixed Income |
No | No |
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Has Education - Retirement |
No | No |
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Paper Trading |
Yes | No |
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Videos |
Yes | No |
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Webinars (Monthly Avg) |
30 | 0 |
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Webinars (Archived) |
Yes | No |
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Live Seminars |
Yes | No |
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Progress Tracking |
No | No |
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Interactive Learning - Quizzes |
No | No |
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Investor Magazine |
Yes | No |
| Education | ||
| Winner | check_circle |
Banking
| Feature | TradeStation | Robinhood |
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Retail Locations |
0 | 0 |
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Member FDIC |
No | No |
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Checking Accounts |
No | No |
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Savings Accounts |
No | No |
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Credit Cards |
No | No |
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Debit Cards |
No | No |
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Mortgage Loans |
No | No |
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No Fee Banking |
No | No |
| Banking | ||
| Winner | check_circle |
Overall
| Feature | TradeStation | Robinhood |
| TradeStation Review | Robinhood Review | |
| Overall | ||
| Winner | check_circle |
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 TradeStation. Is Robinhood or TradeStation a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. TradeStation, with its regular stock trades costing $5, is more expensive than Robinhood's rate of $0 per trade. For options trading, TradeStation has a base fee of $5, and Robinhood a base fee of $0. Option contracts are pricier at TradeStation, costing $0.50 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 TradeStation supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, TradeStation offers its clients access to 4357 different mutual funds while Robinhood has 0 available funds, a difference of 4,357.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. TradeStation makes virtual trading available to clients, while Robinhood does not. For mobile trading, Both Robinhood and TradeStation offer clients access to an iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Unfortunately, Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at Robinhood or TradeStation .
Overall, between Robinhood and TradeStation, TradeStation is the winner.
Robinhood Review
TradeStation Review
First, we will make a comparison of the stock and option trading fees for trading with both brokers. TradeStation, with its regular stock trades costing $5, is more expensive than Robinhood's rate of $0 per trade. For options trading, TradeStation has a base fee of $5, and Robinhood a base fee of $0. Option contracts are pricier at TradeStation, costing $0.50 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 TradeStation supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, TradeStation offers its clients access to 4357 different mutual funds while Robinhood has 0 available funds, a difference of 4,357.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. TradeStation makes virtual trading available to clients, while Robinhood does not. For mobile trading, Both Robinhood and TradeStation offer clients access to an iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Unfortunately, Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at Robinhood or TradeStation .
Overall, between Robinhood and TradeStation, TradeStation is the winner.
Robinhood Review
TradeStation 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.
