Back then when Robinhood was launched, and even now, it is considered the best investing app that always brings something new to the table. Users were excited when it announced commission-free trading. But later, it became the new normal. Many Robinhood alternatives that can be used as trading apps adopted the feature and even introduced many more.
Other features like a user-friendly interface are also a trademark of Robinhood. So, when you look for online brokers as alternatives to Robinhood, you must consider all their products and services. Apps like Robinhood must be robust, flexible and offer a range of investment options, keeping in mind user diversity. There are many alternatives to consider, as we will see ahead.
20 Best Robinhood Alternatives For All Your Investment Needs
Trading on Robinhood accounts has always been a smooth sail, given how beginner-friendly the app is. But there is no harm in exploring Robinhood alternatives if they support free trades and other perks like more trading options than Robinhood. So, check out the platforms similar to Robinhood app.
1. Public
Many Robinhood alternatives come as a complete package for investors, and Public is one such solution. New investors can use this app to begin their investing journey successfully. Investing in treasuries, stocks, crypto, and more is possible with the free app.
Social media plays a good part when investing using the stock app Public. The broker-dealer is regulated by FINRA and SEC for the complete safety of the investors. The platform assures that your trades are not sold to third parties as many apps do. The biggest benefit remains that you can invest in a number of asset classes.
Public lets you invest weekly, biweekly, or monthly and the process can be automated if you wish. You can keep an eye on the companies that interest you and get data about them that help you make wise decisions on stock trading. Finally, you can get real-time updates about the market to get the much-required insights.
2. Fidelity
If you are looking for Robinhood alternatives that can give you more than Robinhood, you will like Fidelity. People who want to invest in bonds, CDs, and mutual funds get the right platform here. There is nothing wrong with beginners trying their hands here; it helps you grow with the right insights.
Fidelity doesn’t support cryptocurrencies, but it supports more account types than provided by many of its competitors. Plenty of research tools and trading options exist, so you can dive deep to explore the possibilities. The tools are easy to use, and you will get professional help in each step.
If you wish to trade with the Robinhood competitor Fidelity, know that it doesn’t ask for an account minimum. So, there is no harm in trying your hands at trading. The app also focuses on retirement income plans to make your future safe. You will get a personalized plan suited to your goals and well-being.
3. MooMoo
If you are in for some freebies, MooMoo is your destination. You will get up to 15 free stocks and an extra 5 when you open an account with MooMoo. You can also do $0 commission trading of all your assets. New and advanced traders have many things to learn here, with many powerful tools.
When you invest using MooMoo, you can access your Earnings data in one place. With visual data in the form of charts, you can better understand the forecast and core financials. In addition, the floor is open to trade with real-time data for long hours, so you can choose your time to trade for the best.
The AI tools featured in MooMoo ensure top-notch tracking functions and easy market research. The deeper insights provided by the platform make trading easy and flexible. Active traders can invest in stocks, options, ETFs, ADRs, and OTCs.
4. E*Trade
Robinhood alternatives like E*Trade can be life savers regarding financial decisions in crucial times. E*Trade from Morgan Stanley offers financial solutions for every step you take in life. It enables commission-free ETFs, stocks, mutual funds, and options trading.
You will find many tools that are easy to use for novice and advanced users alike. The advanced can even opt for the Power E*Trade to trade online based on advanced strategies. Log in, and you will get up-to-date market analysis data at your fingertips to plan your next move.
Automated investment management is yet another feature of the E*Trade app. For people nearing retirement, it allows creating retirement accounts to make their future financially secure. All the investors praise the user-friendly interface that makes long-term investments a pleasure.
5. M1
Most Robinhood alternatives like M1 give the privilege of investing, borrowing, and spending in a single place. The platform offers commission-free investing, whether you want to do it in a conventional way or not. In addition, the whole process is automated to make things easier for you. But it is not a place for day traders.
You will have an interview about your financial situation and saving goals when you first step into M1. It then gives you a pie graph depicting the division of your assets. So, when you see it visually, the investing decisions are quickly made. It becomes so easy that the regular research that goes into the process is cut short.
Owing to its automated investing feature, M1 is called a robo-advisor, which makes it different from Robinhood. The platform is flexible and allows customizations suited to different users. It also highly supports long-term savings. You can log in online or get the M1 app to start trading.
6. Acorns
Acorns is one of those Robinhood alternatives that let you decide your investments and automate them if you prefer. It has an incredible feature to calculate your estimate and see the potential of your investments. You can input your figure in the field, and the calculator shows you how much your money can grow depending on several factors.
Acorns is considered one of the best investment apps, helping you decide on investment options. You must answer a few questions during sign-up, and the app analyzes your financial situation to choose the best plans for you.
Acorns connects to your debit or credit card. So when you make purchases, the app rounds up the change and makes investments. You will be surprised at the rate at which the small amounts grow using this technique. It is also a platform trusted by millions to improve their knowledge base.
7. Webull
Most Robinhood alternatives support smart investing, just like Webull does. It involves zero commissions and doesn’t come with a minimum deposit prerequisite. You can build your perfect portfolio by investing in fractional shares, ADRs, stocks, ETFs, options, and OTC. It is well-suited to both intermediate and experienced investors.
Depending on your investment goals, you can have different kinds of brokerage accounts. And Webull doesn’t limit you in terms of trading time. The pre and post-trading hours are open to the investors who want to pitch in all their spare time.
Advanced analysis tools like charts and technical indicators help users analyze the trends and make use of the opportunities wisely. Webull updates you with the changes in the market, and you can access all the data on any device you choose. Webull is available as a mobile app to support mobile trading. Also, you can get the desktop app or use the web version.
8. TradeStation
Many Robinhood alternatives have been highly praised by financial bigwigs, and TradeStation is one among them. It has a perspective different from the traditional platforms with one-of-a-kind TradeStation analytics. You don’t need a brokerage account to build the dream trading plan.
Whether you are interested in ETFs, stocks, futures, or options, TradeStation has everything investors could ask for. Users can even invest in mutual funds, bonds, and others not available with Robinhood. In addition, the platform offers enough materials for beginners who want to take baby steps in their investment journey.
When you choose the TS SELECT plan, you get zero-commission prices for your assets. TradeStation uses top-grade trading technologies to help users in each step. But the interface is easy to use for all users. Another commendable thing is the customer support, which you can access anytime.
Open account with TradeStation
9. TD Ameritrade
TD Ameritrade is one of the few Robinhood alternatives that use innovative technologies to stay on top of the competition. With an extensive list of investment products and education tailored to each investor, the platform offers a benchmark for investments.
Users can do online trading without any commissions. When you choose TD Ameritrade, you also get a suite of powerful trading tools to assist you. And investments soar when there is enough professional support. The customer support team is committed to giving the right advice at the right time.
Irrespective of your experience in investing, the web, mobile and desktop platforms let you trade with the maximum convenience. The no account minimum feature is good for beginners who are unsure about investments. You will find two separate apps; one for casual traders and the other for power users.
Open account with TD Ameritrade
10. Gemini
You can carry out crypto trades easily using Robinhood alternatives like Gemini. As Robinhood has fewer features surrounding cryptocurrencies like Bitcoin, Gemini is a better choice. In addition, you can receive and send coins from your Gemini wallet, making it very convenient for crypto exchange.
Gemini offers over 120 different coins, which is way higher when compared to companies like Robinhood. It has educational materials to guide users according to their expertise levels. Plus, the user-friendly interface makes any new trader comfortable.
Gemini is also an NFT marketplace where you can securely buy, store, or sell NFTs. When compared to Robinhood, crypto trading is a costly affair in Gemini. But the fact that it assures industry-leading security in all your processes makes it a favorite among traders. You can secure your Gemini account with a hardware security key.
11. Plynk
There are always buyers for Robinhood alternatives that simplify investing, like Plynk. Plynk is a beginner-friendly investment app to learn the basics and progress your way to successful investments. You can start investing in crypto, stocks, mutual funds, and ETFs with a single dollar.
When you deposit $25 to create an account with Plynk, you get $50, and signing up costs you an extra $10. You can explore the platform to discover investments suiting your interests. When you take steps on the investment ideas, all your how-tos will be answered. You will also get simple tips to enhance your investing behavior.
The Plynk Think educational hub is all yours to have a self-study experience as you learn the investment lessons one by one. If you have unused gift cards, the app helps you convert them into money to invest. Recurring investments are yet another feature to keep making better investments.
12. SoFi
Like many Robinhood alternatives, SoFi has no minimum deposits and supports commission-free trading. You can invest in ETFs, stocks, crypto, and more. Active traders find this platform very intuitive, where they can be involved in buying and selling every day.
SoFi also offers an automated investing service for passive traders. This feature makes it score when compared to Robinhood. In addition, the platform enables users to attend free educational seminars, where they can be in touch with experts in the field. You can also meet financial advisors and get quality tips from them.
The SoFi app brings the latest updates to your fingertips to invest smartly. Remember that every time you invest, you are learning new tactics. The app also has events where you can meet other SoFi users and learn from their experiences.
13. Betterment
Robinhood alternatives like Betterment give you better ways to save than Robinhood itself. The robo-advisor asks for a $10 minimum deposit, which is worth it, according to experts. In addition, it involves a high-interest cash account which lets you grow your money in unprecedented ways.
You must answer a few questions during the sign-up process for Betterment to understand your financial goals. Based on your responses, it creates a portfolio and takes it forward from there. When your goals evolve, you can change your investment strategies to comply with your beliefs.
Betterment does not have the option of day trading. Rather, it is focused on long-term investments that contribute to more earnings year after year. Trade stocks, crypto, and bonds, and the platform manages your portfolio automatically. With the best tax strategies, you can reduce the tax impact on your investments.
14. eToro
Unlike the Robinhood alternatives we discussed above, eToro has a unique feel. It is a platform where millions of users come together to trade thousands of assets and discuss their investment strategies. So, you will get unending ideas to make your investment game unmatched.
You can expect fractional shares and no commission when you invest in stocks with eToro. You can also play with Bitcoin, Ethereum, and other crypto assets over 60 in number. With the best security practices, you can trust the platform to offer 100% financial security.
eToro is also a popular social investing platform where you can learn and copy from others’ strategies. When you join the eToro community, know that you are not alone. Build connections and build your knowledge base in turn.
15. Interactive Brokers
If you want to open an account with Robinhood alternatives that levy less trading fees, you must try Interactive Brokers. Compared to other online brokerage platforms, Interactive Brokers pay lower amounts to trade assets. It believes in maximum returns with minimum costs, which favors investors.
With Interactive Brokers, you get opportunities to invest in stocks, currencies, options, bonds, and futures. The powerful technology used enhances your efficiency and speed in trading. Moreover, you have no boundaries here because global investments are supported.
At Interactive Brokers, they believe in consistent learning to keep your money safe while focusing on steady growth. So, it has many resources to improve your understanding of different markets and technologies. It also guides you on the different products available on the platform. You can sign up for Interactive Brokers online or download the app.
Open account with Interactive Brokers
16. Ally
Ally is one of the Robinhood alternatives that cater to the needs of all types of investors, be they beginners, experts, or those having a little experience in the trade. You can opt for your favorite investment choice, and that too, with the lowest commission possible. In fact, the platform is ideal for self-directed investors.
The investment choices include stocks, margin accounts, bonds, mutual funds, and more. In addition, Ally offers various market analysis tools and those for research to help people with diverse investment strategies. The calculators and the advanced charting tools are examples of how the platform helps make the right decisions.
Ally lends support whether you want to do mobile trading or use your desktop. You can access the educational materials to keep learning. Don’t hesitate to call client service whenever you are stuck with something. They are available for support 24/7.
17. Stash
Robinhood alternatives like Stash are good places to invest for long-term savings. All you must do is get the app and answer a few questions. With Smart Portfolio, your investing will be automated and well taken care of by experts. You can invest in ETFs and stocks with any amount.
Stash gives you advice tailored to your individual needs. It also supports dividend investments and automated recurring investments. Now, you can also earn stock with your debit card. So when you shop at your favorite brand, Stash rewards you with its stocks. It doesn’t levy any hidden fee or commission in any trading.
Investing may be challenging, especially if you are in the beginning stages. Stash gives you advice whenever required based on your risk tolerance and goals. You can access informational articles in the app that will end many of your investment concerns. You can choose from two plans: Stash Growth and Stash+.
18. Tradier
With Tradier, you can enjoy enhanced trading features not found in other Robinhood alternatives. The tool is basically made for active traders who don’t miss any opportunity to trade assets. And it comes with all the sophisticated tools necessary to ease your trading experiences.
Tradier offers brokerage services, market data, and trading, all in a single place. All the services in the platform are suitable for individuals and business personnel. It also features the web-based dash to access what you are looking for quickly. In addition, there is an advanced trading platform called TradeHawk for stocks and options.
Within Tradier, you can also work with integrated third-party trading platforms. Once you identify what works for you, it is also possible to make customizations to cater to your requirements. Thus, investors get many more options to expand their portfolios.
19. Kraken
You may not find many Robinhood alternatives that allow crypto exchanges. Kraken can be called the best crypto exchange platform in all its rights. You can buy over 200 cryptocurrencies by logging into the app. And the minimum you have to spend to enter the market is $10.
By creating a free Kraken account, you can link your account and start buying and selling cryptocurrencies like Bitcoin, Cardano, Ripple, and Litecoin, among many others. The mobile app is as easy to use as Robinhood. If you are unfamiliar with crypto, the Learn Center will teach you everything you need to know.
Staking crypto can be as simple as a few clicks. Yet another interesting feature the app offers is margin trading. Again, this is something way beyond what Robinhood offers. Any doubt, contact the Support Center via email, chat, or phone. You will get the proper guidance at any time.
20. Charles Schwab
With transparent pricing and the best customer service, Charles Schwab deserves to be among the best Robinhood alternatives. In addition, it is flexible in letting users manage their own investments. Their automated investing is also notable, where the robo-advisor builds a portfolio under the supervision of professionals.
Charles Schwab can be counted as the best online platform for beginners, as it understands users’ needs more than anyone. It gives you opportunities to meet one-on-one with a financial consultant free of cost. He can help you create a personalized financial plan to meet your goals.
Charles Schwab allows commission-free trading in ETFs, stocks, and options. In addition, you can contact customer service at any time to get answers to your queries. It even entertains customers at the physical branches to answer their questions. Plus, you get access to educational resources and podcasts for extra help.
Open account with Charles Schwab
Final Thoughts
Robinhood provides a pocket-friendly platform for beginners and experts with commission-free and fractional share trading features. However, with its popularity among investors, many Robinhood alternatives emerged, some offering commission-free trading and even exciting features unheard of in Robinhood. So, these platforms score where Robinhood lacks.
Many platforms listed here are better than Robinhood in terms of advanced tools, better trading options, and customer support. Most let you start an investment account for free. Once you sign-up, you can explore the options available to maximize your earnings using competent strategies.
