Written by StockBrokers.com
Is Robinhood better than TradeStation? After testing 17 of the best online brokers over three months, Robinhood (83.65%) is better than TradeStation (78.24%). 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.
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0 of 5| Overall Rating | Robinhood | TradeStation | |
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| Customer Service | N/A |
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| Winner | check_circle | ||
| Review | Robinhood Review | TradeStation Review |
| Trading Fees | Robinhood | TradeStation | |
|---|---|---|---|
| Minimum Deposit | $0.00 | $0.00 | |
| Stock Trades | $0.00 | $0.00 | |
| Penny Stock Fees (OTC) | N/A | $0.00 | |
| Mutual Fund Trade Fee | N/A | $14.95 | |
| Options (Base Fee) | $0.00 | $0.00 | |
| Options (Per Contract) | $0.00 | $0.60 | |
| Futures (Per Contract) | N/A | $1.50 | |
| Broker Assisted Trade Fee | N/A | $0 |
| Margin Rates | Robinhood | TradeStation | |
|---|---|---|---|
| Margin Rate Under $25,000 | 11.50% | 13.00% | |
| Margin Rate $25,000 to $49,999.99 | 11.50% | 13.00% | |
| Margin Rate $50,000 to $99,999.99 | 11.50% | 12.00% | |
| Margin Rate $100,000 to $249,999.99 | 11.50% | 12.00% | |
| Margin Rate $250,000 to $499,999.99 | 11.50% | 12.00% | |
| Margin Rate $500,000 to $999,999.99 | 11.50% | Varies | |
| Margin Rate Above $1,000,000 | 11.50% | Varies |
| Account Fees | Robinhood | TradeStation | |
|---|---|---|---|
| IRA Annual Fee | $0.00 | $35.00 | |
| IRA Closure Fee | $0.00 | $50.00 | |
| Account Transfer Out (Partial) | $100.00 | $125.00 | |
| Account Transfer Out (Full) | $100.00 | $125.00 | |
| Options Exercise Fee | $0.00 | $14.95 | |
| Options Assignment Fee | $0.00 | $5.95 |
| Investment Options | Robinhood | TradeStation | |
|---|---|---|---|
| Stock Trading | Yes | Yes | |
| Margin Trading | Yes | Yes | |
| Fractional Shares | Yes | No | |
| OTC Stocks | Yes | Yes | |
| Options Trading | Yes | Yes | |
| Complex Options Max Legs | 4 | 4 | |
| Futures Trading | No | Yes | |
| Forex Trading | No | No | |
| Crypto Trading | Yes | Yes | |
| Crypto Trading - Total Coins | 17 | 11 | |
| Mutual Funds (No Load) | 0 | 800 | |
| Mutual Funds (Total) | 0 | 4000 | |
| Bonds (US Treasury) | No | Yes | |
| Bonds (Corporate) | No | Yes | |
| Bonds (Municipal) | No | Yes | |
| Advisor Services | No | No | |
| International Countries (Stocks) | 0 | 0 |
| Order Types | Robinhood | TradeStation | |
|---|---|---|---|
| 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 | No | Yes | |
| Order Type - OTO | No | Yes | |
| Order Type - Broker Assisted | No | Yes |
| Beginners | Robinhood | TradeStation | |
|---|---|---|---|
| Education (Stocks) | Yes | Yes | |
| Education (ETFs) | No | No | |
| Education (Options) | Yes | Yes | |
| Education (Mutual Funds) | No | No | |
| Education (Bonds) | No | No | |
| Education (Retirement) | No | No | |
| Retirement Calculator | No | No | |
| Investor Dictionary | Yes | No | |
| Paper Trading | No | Yes | |
| Videos | No | Yes | |
| Webinars | No | Yes | |
| Webinars (Archived) | No | No | |
| Progress Tracking | No | No | |
| Interactive Learning - Quizzes | No | No |
| Stock Trading Apps | Robinhood | TradeStation | |
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| 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 Features | Robinhood | TradeStation | |
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| Market Movers (Top Gainers) | Yes | Yes | |
| Stream Live TV | No | No | |
| Videos on Demand | No | No | |
| Stock Alerts | Yes | Yes | |
| Option Chains Viewable | Yes | Yes | |
| Watch List (Real-time) | Yes | Yes | |
| Watch List (Streaming) | No | Yes | |
| Watch Lists - Create & Manage | Yes | Yes | |
| Watch Lists - Column Customization | Yes | Yes | |
| Watch Lists - Total Fields | 3 | 335 |
| Stock App Charting | Robinhood | TradeStation | |
|---|---|---|---|
| Charting - After-Hours | Yes | Yes | |
| Charting - Can Turn Horizontally | No | Yes | |
| Charting - Multiple Time Frames | Yes | Yes | |
| Charting - Technical Studies | 6 | 45 | |
| Charting - Study Customizations | Yes | Yes | |
| Charting - Stock Comparisons | No | No |
| Trading Platforms | Robinhood | TradeStation | |
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| Active Trading Platform | TradeStation 10 | ||
| Desktop Trading Platform | No | Yes | |
| Desktop Platform (Mac) | No | No | |
| Web Trading Platform | Yes | Yes | |
| Paper Trading | No | Yes | |
| Trade Journal | No | No | |
| Watch Lists - Total Fields | 3 | 335 |
| Stock Chart Features | Robinhood | TradeStation | |
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| Charting - Adjust Trades on Chart | No | Yes | |
| Charting - Indicators / Studies | 6 | 290 | |
| Charting - Drawing Tools | 0 | 23 | |
| Charting - Notes | No | Yes | |
| Charting - Index Overlays | No | Yes | |
| Charting - Historical Trades | No | Yes | |
| Charting - Corporate Events | No | Yes | |
| Charting - Custom Date Range | No | Yes | |
| Charting - Custom Time Bars | No | Yes | |
| Charting - Automated Analysis | No | Yes | |
| Charting - Save Profiles | No | Yes | |
| Trade Ideas - Technical Analysis | No | Yes | |
| Charting - Study Customizations | 1 | 12 | |
| Charting - Custom Studies | No | Yes |
| Day Trading | Robinhood | TradeStation | |
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| Streaming Time & Sales | No | Yes | |
| Streaming TV | No | No | |
| Direct Market Routing - Stocks | No | Yes | |
| Ladder Trading | No | Yes | |
| Trade Hot Keys | No | Yes | |
| Level 2 Quotes - Stocks | No | Yes | |
| Trade Ideas - Backtesting | No | Yes | |
| Trade Ideas - Backtesting Adv | No | Yes | |
| Short Locator | No | Yes | |
| Order Liquidity Rebates | No | Yes |
| Research Overview | Robinhood | TradeStation | |
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| Research - Stocks | Yes | Yes | |
| Research - ETFs | Yes | Yes | |
| Research - Mutual Funds | No | No | |
| Research - Pink Sheets / OTCBB | Yes | Yes | |
| Research - Bonds | No | No | |
| Screener - Stocks | No | Yes | |
| Screener - ETFs | No | No | |
| Screener - Mutual Funds | No | No | |
| Screener - Bonds | No | No | |
| Misc - Portfolio Allocation | Yes | Yes |
| Stock Research | Robinhood | TradeStation | |
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| Stock Research - PDF Reports | 0 | 0 | |
| Stock Research - Earnings | Yes | No | |
| Stock Research - Insiders | No | No | |
| Stock Research - Social | No | No | |
| Stock Research - News | Yes | Yes | |
| Stock Research - ESG | No | No | |
| Stock Research - SEC Filings | No | No |
| ETF Research | Robinhood | TradeStation | |
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| ETFs - Strategy Overview | Yes | No | |
| ETF Fund Facts - Inception Date | Yes | No | |
| ETF Fund Facts - Expense Ratio | Yes | No | |
| ETF Fund Facts - Net Assets | No | No | |
| ETF Fund Facts - Total Holdings | Yes | No | |
| ETFs - Top 10 Holdings | Yes | No | |
| ETFs - Sector Exposure | Yes | No | |
| ETFs - Risk Analysis | No | No | |
| ETFs - Ratings | No | No | |
| ETFs - Morningstar StyleMap | No | No | |
| ETFs - PDF Reports | No | No |
| Mutual Fund Research | Robinhood | TradeStation | |
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| Mutual Funds - Strategy Overview | No | No | |
| Mutual Funds - Performance Chart | No | No | |
| Mutual Funds - Performance Analysis | No | No | |
| Mutual Funds - Prospectus | No | No | |
| Mutual Funds - 3rd Party Ratings | No | No | |
| Mutual Funds - Fees Breakdown | No | No | |
| Mutual Funds - Top 10 Holdings | No | No | |
| Mutual Funds - Asset Allocation | No | No | |
| Mutual Funds - Sector Allocation | No | No | |
| Mutual Funds - Country Allocation | No | No | |
| Mutual Funds - StyleMap | No | No |
| Options Trading | Robinhood | TradeStation | |
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| Option Chains - Basic View | Yes | Yes | |
| Option Chains - Strategy View | No | Yes | |
| Option Chains - Streaming | Yes | Yes | |
| Option Chains - Total Columns | 17 | 32 | |
| Option Chains - Greeks | 5 | 5 | |
| Option Chains - Quick Analysis | Yes | Yes | |
| Option Analysis - P&L Charts | Yes | Yes | |
| Option Probability Analysis | No | Yes | |
| Option Probability Analysis Adv | No | Yes | |
| Option Positions - Greeks | Yes | Yes | |
| Option Positions - Greeks Streaming | Yes | Yes | |
| Option Positions - Adv Analysis | No | Yes | |
| Option Positions - Rolling | Yes | Yes | |
| Option Positions - Grouping | Yes | Yes |
| Banking | Robinhood | TradeStation | |
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| Bank (Member FDIC) | No | No | |
| Checking Accounts | No | No | |
| Savings Accounts | No | No | |
| Credit Cards | No | No | |
| Debit Cards | Yes | No | |
| Mortgage Loans | No | No |
| Customer Service | Robinhood | TradeStation | |
|---|---|---|---|
| Phone Support (Prospect Customers) | No | Yes | |
| Phone Support (Current Customers) | Yes | No | |
| Email Support | Yes | Yes | |
| Live Chat (Prospect Customers) | No | Yes | |
| Live Chat (Current Customers) | Yes | Yes | |
| 24/7 Support | Yes | No |
| Overall | Robinhood | TradeStation | |
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| Overall |
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| Commissions & Fees |
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| Investment Options |
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| Platforms & Tools |
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| Mobile Trading Apps |
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| Research |
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| Education |
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| Ease Of Use |
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| Winner | check_circle | ||
| Review | Robinhood Review | TradeStation Review |
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 Robinhood vs TradeStation.
TradeStation offers more comprehensive new investor education for beginner investors than Robinhood. Robinhood offers investors access to Education (Stocks) and Education (Options), while TradeStation offers investors access to Paper Trading, Videos, Education (Stocks) and Education (Options). Neither have Education (ETFs), Education (Mutual Funds), Education (Bonds) and Education (Retirement). See our guide to Best Paper Trading Platforms for more.
Robinhood and TradeStation charge the same amount for regular stock trades, $0.00. Option contracts are pricier at TradeStation, costing $0.60 per contract versus $0.00 per contract at Robinhood. For a complete commissions summary, see our best brokers for free stock trading guide.
Robinhood offers investors access to Stock Trading, Fractional Shares, Options Trading and OTC Stocks, while TradeStation offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds and Futures Trading. Neither have Forex Trading and Advisor Services. Looking at Mutual Funds, Robinhood and TradeStation both provide customers access to 0 no transaction fee (NTF) mutual funds.
To compare the trading platforms of Robinhood and TradeStation, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TradeStation offers a better experience. With research, TradeStation offers superior market research. Finally, we found Robinhood to provide better mobile trading apps.
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Debit Cards are offered by Robinhood while TradeStation offers none. Neither have Checking Accounts, Savings Accounts, Credit Cards and Mortgage Loans.
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.
TradeStation supports casual traders through its web-based platform and active traders through its desktop platform. We like the web-based platform and mobile app, but the flagship desktop platform could use a refresh. TradeStation ranked among Best in Class in the Commissions and Fees and Investment Options categories in our 2023 Annual Review of online stockbrokers.
Overall winner: Robinhood
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