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 Securities 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. TradeStation Securities charges $5 per stock trade which is $5 more than Robinhood which charges customers $0 per trade. Looking at trading options, Robinhood's base fee is $N/A while TradeStation Securities's is $5. Each option contract then costs $N/A at Robinhood and $0.50 at TradeStation Securities. 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. TradeStation Securities supports Stock Trading, Options Trading, Mutual Funds and Futures Trading while Robinhood supports Stock Trading. As far as mutual funds go, Robinhood trails TradeStation Securities by 4,951 total mutual funds, with TradeStation Securities offering 4951 and Robinhood offering 0. And, commission free ETFs deserve a comparison, which for investors means access to 0 commission free ETFs at both brokers.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. TradeStation Securities has virtual trading, Robinhood doesn't. For mobile trading, Robinhood and TradeStation Securities 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. Banking is not popular with Robinhood and TradeStation Securities as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable. All factors considered, when it comes to platform 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 boasts 3.50 stars versus Robinhood's 2.50 stars.