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Robinhood vs TradeStation 2023

StockBrokers.com

Written by StockBrokers.com

January 23, 2023

Is Robinhood better than TradeStation? After testing 17 of the best online brokers over three months, TradeStation (78.24%) is better than Robinhood (83.65%). 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.

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Overall RatingRobinhoodTradeStation
Overall 4/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 3.5/5 Stars 4.5/5 Stars
Platforms & Tools 3/5 Stars 4.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 2.5/5 Stars 3/5 Stars
Customer Service N/A 3.5/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 3/5 Stars
Winner check_circle
Review Robinhood Review TradeStation Review
Trading FeesRobinhoodTradeStation
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTCCB) 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 RatesRobinhoodTradeStation
Margin Rate Under $25,000 9.75% 11.00%
Margin Rate $25,000 to $49,999.99 9.75% 11.00%
Margin Rate $50,000 to $99,999.99 9.75% 10.00%
Margin Rate $100,000 to $249,999.99 9.75% 10.00%
Margin Rate $250,000 to $499,999.99 9.75% 10.00%
Margin Rate $500,000 to $999,999.99 9.75% 5.50%
Margin Rate Above $1,000,000 9.75% 5.50%
Account FeesRobinhoodTradeStation
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 OptionsRobinhoodTradeStation
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares Yes No
OTCBB / Pink Sheets No 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 TypesRobinhoodTradeStation
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
BeginnersRobinhoodTradeStation
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 AppsRobinhoodTradeStation
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
Stock App FeaturesRobinhoodTradeStation
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 ChartingRobinhoodTradeStation
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 PlatformsRobinhoodTradeStation
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 FeaturesRobinhoodTradeStation
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 TradingRobinhoodTradeStation
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 OverviewRobinhoodTradeStation
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 ResearchRobinhoodTradeStation
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 ResearchRobinhoodTradeStation
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 ResearchRobinhoodTradeStation
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 TradingRobinhoodTradeStation
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
BankingRobinhoodTradeStation
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 ServiceRobinhoodTradeStation
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
OverallRobinhoodTradeStation
Overall 4/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 3.5/5 Stars 4.5/5 Stars
Platforms & Tools 3/5 Stars 4.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 2.5/5 Stars 3/5 Stars
Education 3.5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 3/5 Stars
Winner check_circle
Review Robinhood Review TradeStation Review
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Robinhood vs TradeStation Comparison

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.

Is Robinhood or TradeStation better for beginners?

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).

What about Robinhood vs TradeStation pricing?

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.

Does Robinhood or TradeStation offer a wider range of investment options?

Robinhood offers investors access to Stock Trading, Fractional Shares and Options Trading, while TradeStation offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, 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.

Which trading platform is better: Robinhood or TradeStation?

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 TradeStation to provide better mobile trading apps.

Does either broker offer banking?

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.

Is Robinhood good?

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.

Is TradeStation good?

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.

Robinhood vs TradeStation Winner

Overall winner: TradeStation

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