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 5,000 data points, let's compare Robinhood vs TradeStation Securities.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. TradeStation Securities, with its regular stock trades costing $5, is more expensive than Robinhood's rate of $0 per trade. Looking at trading options, Robinhood's base fee is $0 while TradeStation Securities's is $5. Option contracts are pricier at TradeStation Securities, costing $0.50 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 provides its clients with Stock Trading and Options Trading while TradeStation Securities provides clients access to Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, TradeStation Securities offers its clients access to 4951 different mutual funds while Robinhood has 0 available funds, a difference of 4,951. Commission free ETFs can also be valuable for customers, with Robinhood having the upper hand thanks to its 499 available commission free ETFs compared to TradeStation Securities's offering of 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. TradeStation Securities makes virtual trading available to clients, while Robinhood does not. Taking a look at mobile trading, Robinhood and TradeStation Securities both have a 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. Neither Robinhood nor TradeStation Securities offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. On the whole, when it comes to tools, research, and mobile trading, TradeStation Securities posted awards Best in Class - Platforms & Tools in 2018, while Robinhood found itself with none of these.
Overall, TradeStation Securities comes out on top with 4.00 stars over Robinhood's 2.50 stars.