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 charges more than Robinhood for placing regular stock trades ($5 and $0, respectively). Looking at trading options, Robinhood's base fee is $0 while TradeStation Securities's is $5. Robinhood's per contract rate of $0 is less than TradeStation Securities which charges $0.50. 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 offers clients Stock Trading and Options Trading while TradeStation Securities offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, TradeStation Securities boasts an offering of 4951 mutual funds compared to Robinhood's 0 available funds. Commission free ETFs can also be valuable for customers, which for investors means access to N/A commission free ETFs at both brokers.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. TradeStation Securities has virtual trading, Robinhood doesn't. Taking a look at mobile trading, Robinhood along with TradeStation Securities 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. Banking is not popular with Robinhood and TradeStation Securities as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable. On the whole, when it comes to tools, research, and mobile trading, both Robinhood and TradeStation Securities found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, TradeStation Securities takes the upper hand with 4.00 stars over Robinhood's 2.50 stars.