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Robinhood vs E*TRADE (best stock trading apps / software)

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Winner
User Interface
Customer Service
Mobile App
Research Tools
Fees
Account types
Trading Options
Learning Materials
Security
International Trading
FREE / PAID
E*TRADE monetizes through commissions on certain trades, margin interest, and management fees. They offer Pro platform for frequent traders at $99.95 per month, but it’s free if the trader makes 30+ trades per quarter.
Robinhood’s main source of revenue is from interest on uninvested cash, margin interest and selling order flow. They offer a Gold membership that costs $5 a month, providing extended trading hours and additional research.
Conclusion

E*TRADE is a more traditional platform, aimed at experienced investors 💪💼. Offering a breadth of research tools 📊🔎, it comes with higher fees 💰😕.

Perfect for new investors 💼💰, Robinhood simplifies stock trading with zero commission 🚫😊. Overall, a solid choice 🌟.

E*TRADE Pros & Cons

Top Pros
  • Vast research tools 📊🔬

  • Excellent customer service 👏😊

  • Wide range of account types 🧩💼

  • Advanced trading options 🦾🌐

  • Quality educational content 📚👍

Robinhood Pros & Cons

Top Pros
  • Easy to navigate interface 👏🔎

  • Zero commissions on trades 💰👏

  • Cryptocurrency trading 🎯💼

  • Free stocks for referrals 👥💵

  • Streamlined mobile app 📱🌟

  • Strong security features 🔒🌟

Top Cons
  • Higher fees 🚧💰

  • Complicated for beginners 🏳️🔄

  • Limited cryptocurrency options ₿🔴

  • Website can be clunky 🖥️😕

  • No free stock referrals 👥🚫

  • Limited mobile app features 📱🔴

Top Cons
  • Lacks advanced features 🏳️♥️

  • Limited account types 🎲🔴

  • Minimal educational resources 📚😕

  • Doesn’t support international trading 🌐🚫

  • Online only customer service 👥👎

Other best stock trading apps

3

TD Ameritrade combines the best of both worlds, offering advanced tools and zero commission 📈💰. An excellent choice for all traders 🌟👍.

4

Fidelity’s top-notch research and customer service make it a premier choice for all types of investors 👏💼. However, its mobile app could use some work 📱😕.

5

Charles Schwab offers a balanced experience, suitable for both new and experienced investors 😊💼. Its attention to customer service is a standout 🌟👍.

FAQ

Robinhood, E*TRADE, TD Ameritrade, and Fidelity’s Active Trader Pro are a few of the top-rated stock trading applications, based on user reviews, functionality, and tools offered.

Robinhood is popular for its commission-free trading. Users are not charged any brokerages for buying or selling stocks and ETFs, which makes it a top choice among beginner traders.

Yes, E*TRADE is suitable for beginners as it provides comprehensive educational resources, a user-friendly platform, and excellent customer support.

Trading on Robinhood is free; they do not charge commission fees. However, the platform does offer a premium service called Robinhood Gold, which provides access to additional tools and capabilities for a monthly cost.

Yes, with E*TRADE, traders can access international stocks. The platform offers global trading which lets users trade in over 70 international markets.

Robinhood provides an educational platform called Robinhood Learn, where beginners can access a range of articles and tips about investing and trading.

E*TRADE offers 24/7 customer support through multiple channels; phone, email, live chat, and in person at branch locations nationwide.

No, Robinhood does not require a minimum deposit to open an account.

E*TRADE uses advanced encryption technology to ensure the confidentiality and integrity of customer data. It also offers additional security features such as two-factor authentication.

Yes, Robinhood offers options trading with no commission fees or per-contract fees.

Yes, E*TRADE provides access to in-depth analyst reports from industry leaders like Morningstar and S&P Capital IQ.

Robinhood is available on both major platforms, iOS and Android, and also through a web platform.

E*TRADE‘s mobile app offers customizable alert features, which let users set alerts for various parameters such as price levels, percent changes, and volume changes.

While Robinhood is known for its simple, intuitive interface and free trades, it does lack some of the sophisticated tools and research data that more experienced traders might prefer.

Yes, E*TRADE app allows individuals to manage their Individual Retirement Accounts (IRAs). Users can access strategies, balances and more from the mobile app.

Yes, Robinhood offers margin trading to its customers through the Robinhood Gold subscription, which carries a monthly fee.

E*TRADE offers $0 commission fee for trading options, stocks, and ETFs online. They do charge a $0.65 per contract fee for options trades.

Robinhood currently supports individual taxable accounts (or brokerage accounts). However, they do not offer joint, custodial, or IRA accounts at this time.

Yes, E*TRADE does offer a Robo-advisor called E*TRADE Core Portfolios. It provides automated investment management, taking into account an individual’s goals and risk tolerance.

Yes, Robinhood app provides real-time market data. It also offers extended trading hours, which includes full pre-market (9:00 AM – 9:30 AM EST) and after hours (4:00 PM – 6:00 PM EST) schedules.

There are several stock trading apps available that are highly recommended including Robinhood, E*TRADE, Fidelity, Charles Schwab, and TD Ameritrade. These apps offer an array of services tailored to meet different trading needs.

Robinhood is popular due to its easy-to-use platform and no-cost trades. Investors can trade stocks, ETFs, options, and even cryptocurrency without paying commission fees, making it a cost-effective choice for beginners and budget-conscious traders.

Yes, E*TRADE is a good option for beginners. It offers lots of educational resources, advanced trading tools, and comprehensive market research that can help novices grasp the basics of stock trading easily.

Both Robinhood and E*TRADE provide real-time stock quotes. This is essential as it gives traders timely information necessary for making informed trading decisions.

Robinhood is known for offering commission-free trades. However, it does charge fees for other services, such as broker-assisted trades or outgoing account transfers.

While E*TRADE offers commission-free trades on stocks and ETFs, it does have fees for other services including broker-assisted trades, margin rates, and futures contracts.

No, Robinhood does not require a minimum deposit to open an account. This is one of the reasons why it’s popular among beginners or those with limited capital to invest.

The minimum deposit to open a regular E*TRADE brokerage account is $0, but for margin trading, there is a $2,000 minimum deposit requirement.

Robinhood offers email support to its customers. There is a detailed FAQs section on their website where users can find answers to many common questions.

E*TRADE offers 24/7 customer service which includes phone support, live chat, and email assistance. Additionally, they have an extensive Customer Service section on their website for further support.

No, currently Robinhood only supports trading in the U.S. market. Users can’t trade stocks listed on foreign exchanges.

Yes, E*TRADE does offer international trading. Customers can trade on six global markets including Canada, France, Germany, Hong Kong, Japan, and the United Kingdom.

No, currently, Robinhood does not offer IRA or other retirement accounts. They primarily offer individual brokerage accounts.

Yes, E*TRADE does offer various types of retirement accounts including Traditional IRA, Roth IRA, and SEP IRA. This makes E*TRADE a good option for long-term investing.

Yes, Robinhood does offer a desktop platform, known as Robinhood for Web. It offers a wider view of the market data and more detailed stock analysis compared to the mobile app.

E*TRADE offers a desktop platform called E*TRADE Pro, a web-based platform, and a mobile app. These platforms offer advanced charting, real-time news, and custom alerts for stocks.

No, currently Robinhood does not offer paper trading or virtual trading. This feature allows for risk-free practice by trading with virtual money.

Yes, E*TRADE does offer paper trading. Their ‘paperTRADE’ feature allows users to practice trading strategies with virtual money, helping them gain confidence before venturing into actual trading.

You can fund your Robinhood account by linking it to your bank account. Once linked, you can easily transfer money back and forth between your Robinhood account and your bank account.

Funding your E*TRADE account can be done in several ways including wire transfer, check deposit, or transfer from another brokerage. You can also set up direct deposits or automatic investments.