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TradeStation vs Robinhood 2020

StockBrokers.com | January 21st, 2020

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  3. TradeStation vs Robinhood Review

Is TradeStation better than Robinhood? After scoring brokers in eight separate categories for our 2020 review, TradeStation (82.4%) is better than Robinhood (62.62%).

TradeStation

Best platform technology - Open Account
Promo Offer: Commission-Free Trades on Stocks, ETFs & Options Trades

As a trading technology leader, TradeStation supports casual traders through its web-based platform and active traders through its award-winning desktop platform, all with $0 stock and ETF trades. Read full review

Robinhood

Robinhood
Robinhood used to shine thanks to its easy-to-use mobile app and $0 trades. However, today, all of the largest online brokers offer free stock and ETF trades. As a result, it is much more difficult for Robinhood to outduel the competition. Read full review

Overall Rating

Feature TradeStation Robinhood
Overall 4 3
TradeStation Review Robinhood Review

Trading Fees

Feature TradeStation Robinhood
Minimum Deposit $0.00 $0.00
Stock Trade Fee (per trade) $0.00 $0.00
ETF Trade Fee $0.00 $0.00
Options Base Fee $0.00 $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 4.5 4.5
Winner check_circle

Margin Rates

Feature TradeStation Robinhood
Under $24,999.99 9.50% 5.00%
$25,000.00 to $49,999.99 9.50% 5.00%
$50,000.00 to $99,999.99 8.75% 5.00%
$100,000.00 to $249,999.99 8.75% 5.00%
$250,000.00 to $499,999.99 8.75% 5.00%
$500,000.00 to $999,999.99 5.50% 5.00%
Above $1,000,000.00 5.50% 5.00%
Commissions & Fees 4.5 4.5
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 4.5 4.5

Investment Options

Feature TradeStation Robinhood
Stock Trading
 Yes Yes
Fractional Shares
 No No
OTCBB / Pink Sheets
 Yes No
Options Trading
 Yes Yes
Complex Options Max Legs
 4 4
Futures Trading
 Yes No
Forex Trading
 No No
Commission-Free ETFs all all
Mutual Funds (No Load)
 887 0
Mutual Funds (Total)
 4357 0
Bonds (US Treasury)
 Yes No
Bonds (Corporate)
 Yes No
Bonds (Municipal)
 Yes No
Interest Sharing
 Yes No
Advisor Services
 No No
International Trading
 No No
Offering of Investments 4.5 2
Winner check_circle

Order Types

Feature TradeStation Robinhood
Order Type - Market
 Yes Yes
Order Type - Limit
 Yes Yes
Order Type - Stop
 Yes Yes
Order Type - Trailing Stop
 Yes Yes
Order Type - Contingent
 Yes No
Order Type - MultiContingent
 Yes No
Order Type - OCO
 Yes No
Order Type - OTO
 Yes No
Order Type - OTOCO
 Yes No
Offering of Investments 4.5 2
Winner check_circle

Trading Platforms

Feature TradeStation Robinhood
Desktop Platform (Windows)
 Yes No
Desktop Platform (Mac)
 No No
Web Platform
 Yes Yes
Paper Trading
 Yes No
Trade Journal
 No No
Watch Lists - Total Fields
 335 7
Heat Mapping
 No No
AI Assistant Bot
 No No
Platforms & Tools 5 2
Winner check_circle

Charting Features

Feature TradeStation Robinhood
Charting - Trade Off Chart
 Yes No
Charting - Indicators / Studies
 285 5
Charting - Drawing Tools
 23 0
Charting - Historical Trades
 Yes No
Charting - Corporate Events
 No No
Charting - Automated Analysis
 No No
Charting - Save Profiles
 Yes No
Charting - Study Customizations
 12 2
Charting - Custom Studies
 Yes No
Platforms & Tools 5 2
Winner check_circle

Day Trading

Feature TradeStation Robinhood
Stock Alerts - Basic Fields
 Yes No
Stock Alerts - Advanced Fields
 Yes No
Streaming Time & Sales
 Yes No
Streaming TV
 No No
Direct Market Routing - Stocks
 Yes No
Direct Market Routing - Options
 Yes No
Ladder Trading
 Yes No
Trade Hot Keys
 Yes No
Level 2 Quotes - Stocks
 Yes No
Level 2 Quotes - Options
 Yes No
Trade Ideas - Backtesting
 Yes No
Short Locator
 Yes No
Order Liquidity Rebates
 Yes No
Winner check_circle

Mobile Trading Apps

Feature TradeStation Robinhood
iPhone App
 Yes Yes
Android App
 Yes Yes
Apple Watch App
 No Yes
Trading - Stocks
 Yes Yes
Trading - After-Hours
 Yes Yes
Trading - Conditional Orders
 Yes No
Trading - Mutual Funds
 No No
Trading - Simple Options
 Yes Yes
Trading - Complex Options
 Yes Yes
Trading - Option Rolling
 No No
Touch / Face ID
 Yes Yes
Winner check_circle

Mobile App Features

Feature TradeStation Robinhood
Watch List Syncing
Yes Yes
Stock Alerts
 Yes Yes
Charting - After Hours
 Yes Yes
Charting - Drawing
 Yes No
Charting - Study Customizations
Yes No
Heatmapping
 No No
Stream Live TV
 No No
Barcode Lookup
 No No
Mobile Trading 4.5 4
Winner check_circle

Research Overview

Feature TradeStation Robinhood
Research - Stocks
 Yes Yes
Research - ETFs
 Yes Yes
Research - Mutual Funds
 No No
Research - Pink Sheets / OTCBB
 Yes No
Research - Fixed Income
 No No
Screener - Stocks
 Yes No
Screener - ETFs
 No No
Screener - Mutual Funds
 No No
Screener - Options
 Yes No
Screener - Bonds
 No No
Misc - Portfolio Builder
 No No
Misc - Portfolio Allocation
 No Yes
Research 2 2
Winner check_circle

Stock Research

Feature TradeStation Robinhood
Stock Research - Reports
 0 0
Stock Research - Earnings
 No Yes
Stock Research - Insiders
 No No
Stock Research - Metric Comp
 No No
Stock Research - SEC Filings
 No No
Stock Research - Social
 No No
Stock Research - Balance Sheet
 No No
Stock Research - Cash Flows
 No No
Stock Research - News
 Yes Yes
Stock Research - ESG
 No No
Research 2 2
Winner check_circle

ETF Research

Feature TradeStation Robinhood
ETFs - Strategy Overview
 No Yes
ETFs - Top 10 Holdings
 No No
ETFs - Sector Exposure
 No No
ETFs - Risk Analysis
 No No
ETFs - Performance Analysis
 No Yes
ETFs - Ratings
 No No
ETFs - Morningstar StyleMap
 No No
ETFs - Reports
 No No
Research 2 2
Winner check_circle

Mutual Fund Research

Feature TradeStation Robinhood
Mutual Funds - Strategy Overview
 No No
Mutual Funds - Prospectus
 No No
Mutual Funds - Reports
 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
Mutual Funds - 3rd Party Ratings
 No No
Research 2 2
Winner check_circle

Options Trading

Feature TradeStation Robinhood
Option Chains - Streaming
 Yes No
Option Chains - Total Columns
 32 6
Option Chains - Greeks
5 5
Option Chains - Quick Analysis
 Yes No
Option Analysis - P&L Charts
 Yes No
Option Probability Analysis
 Yes No
Option Probability Analysis Adv
 Yes No
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
 Yes No
Option Positions - Rolling
 Yes No
Option Positions - Grouping
 Yes No
Platforms & Tools 5 2
Winner check_circle

Beginners

Feature TradeStation Robinhood
Has Education - Stocks
 Yes Yes
Has Education - ETFs
 No No
Has Education - Options
 Yes Yes
Has Education - Mutual Funds
 No No
Has Education - Fixed Income
 No No
Has Education - Retirement
 No No
Paper Trading
 Yes No
Videos
 Yes No
Webinars (Monthly Avg)
 0 0
Webinars (Archived)
 Yes No
Live Seminars
 Yes No
Progress Tracking
 No No
Interactive Learning - Quizzes
 No No
Investor Magazine
 Yes No
Education 2.5 3
Winner check_circle

Banking

Feature TradeStation Robinhood
Retail Locations
 0 0
Member FDIC
 No No
Checking Accounts
 No No
Savings Accounts
 No No
Credit Cards
 No No
Debit Cards
 No No
Mortgage Loans
 No No
No Fee Banking
 No No
Banking 0.5 0.5

Overall

Feature TradeStation Robinhood
TradeStation Review Robinhood Review
Overall 4 3
Winner check_circle

Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Robinhood vs TradeStation to determine which broker is best. Let's dive in.

First, we will break down the commission charges of both brokers for placing stock and options trades. Robinhood and TradeStation both cost $0 per trade. For options trading, both Robinhood and TradeStation charge the same base fee of $0. Option contracts are pricier at TradeStation, costing $0.50 versus $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 supports Stock Trading and Options Trading while TradeStation supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, TradeStation boasts an offering of 4357 mutual funds compared to Robinhood's 0 available funds.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. TradeStation makes virtual trading available to clients, while Robinhood does not. For mobile trading, Robinhood and TradeStation 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. 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

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All pricing data was obtained from a published web site as of 01/20/2020 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.

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