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Robinhood vs TD Ameritrade (best apps to invest in stocks / software)

Compare
Winner
User Interface
Mobile App
Customer Service
Investment Options
Commission Fees
Account Minimum
Trading Tools
Education Resources
Security
International Trading
FREE / PAID
TD Ameritrade earns from trade commissions. They charge $0 for online stock, ETF and options trades but $0.65 per options contract. Additional fees may apply.
Robinhood earns revenue from interest earned on customer cash and stocks, much like a bank collects interest on cash deposits. It is free for users.
Conclusion

TD Ameritrade offers robust resources for the novice to advanced trader ✅📝📈, but watch out for some fees 🔎💸

For the tech-savvy investor looking for a mobile-first platform and commission-free trades, Robinhood gets your money to work 🏦💰🚀

TD Ameritrade Pros & Cons

Top Pros
  • 🔬 Great research tools

  • 🎓 Excellent educational content

  • 💹 Versatile trading platform

  • 📞 Good customer service

  • 🌍 Allows international trading

Robinhood Pros & Cons

Top Pros
  • 😃 Easy to use interface

  • 🚀 Fast execution of trades

  • 💰 No minimum deposit

  • 📱 Excellent mobile app

  • 🎉 No commission on trades

  • 🔐 Solid security features

Top Cons
  • 💰 High fees

  • 💸 Charges for broker-assisted trades

  • ⌚ Delayed data updates

  • 💼 Complex interface for beginners

  • ⏳ Slightly slower trade execution

  • 👥 No single stock futures

Top Cons
  • ⏸️ No IRA accounts

  • ❌ No mutual funds

  • 💬 Poor customer support

  • 📊 Limited tools and analysis

  • 🌍 Doesn’t offer international trades

Other best apps to invest in stocks

3

With a wide range of investment options and great customer service, Fidelity makes investing accessible to the everyday investor 🤝📊💫

4

E*TRADE offers a good balance for beginners and experienced traders, but charges commission for mutual funds transaction 💼🔄💡

5

Charles Schwab offers a wide range of investment advice, products and services, including brokerage and retirement accounts, but has higher trade commission compared to others.✍️🔄💰

FAQ

Robinhood is favored for its user-friendly interface and commission-free trades. It allows real-time trading and has the feature of fractional share investing, which opens up opportunities to purchase high-valued stocks. Its simple layout attracts beginners and experienced investors alike. This is the Robinhood application.

While both platforms are beginner-friendly, TD Ameritrade offers more extensive educational resources for new investors. However, Robinhood‘s minimalist interface and zero-commission approach are also highly appealing to new traders.This is the TD Ameritrade application.

No, Robinhood does not currently support the short selling of stocks. This trading strategy requires borrowing stocks to sell, which is not available on the platform.

No, there is no minimum deposit or balance required to keep a standard account open or to have access to regular trading on TD Ameritrade.

Yes, Robinhood allows options trading. Users can trade options without paying commission fees or per-contract fees, making it a tempting platform for options traders.

Yes, TD Ameritrade allows futures trading. Users can trade over 70 futures products virtually 24 hours a day, 6 days a week.

To transfer stocks from Robinhood to another broker, you will need to initiate an ACATS (Automated Customer Account Transfer Service) transfer. There is a fee associated with this service.

TD Ameritrade provides commission-free online trading for stocks, ETFs, and options. However, for options, there’s a $0.65 per contract fee.

Robinhood is ideally suited for novice investors due to its simplified interface and for active traders aiming for commission-free trades.

Yes, TD Ameritrade offers a robo-advisor service called Essential Portfolios, an automated investing solution that builds, rebalances, and manages your portfolio.

Robinhood provides support through email and their support center. They currently do not offer phone support.

TD Ameritrade offers a range of security measures to protect investors’ assets. These include asset protection guarantees, firewalls and encryption technology, secure email, and two-factor authentication.

No, as of now, Robinhood only supports trading on U.S. exchanges and does not support foreign exchanges.

Yes, TD Ameritrade does have a mobile app. It allows users to trade and manage accounts on-the-go and is well-regarded for its user-friendly interface and comprehensive features.

While Robinhood offers commission-free trading, the platform lacks the extensive research and educational resources that other brokers provide. Additionally, customer support is limited to email.

TD Ameritrade is regarded as a highly reliable platform. It’s been in business for over 40 years and serves millions of customers worldwide. It is also a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).

Yes, with a Robinhood Gold account, which costs $5/month, investors can access margin trading.

Yes, TD Ameritrade does offer DRIP. This allows investors to automatically reinvest their dividends back into the stock without any fees.

Robinhood provides 1099 tax forms to users who have sold stocks, received dividends, or earned interest on uninvested cash during the tax year.

TD Ameritrade offers a range of accounts including individual, joint, custodial, and retirement accounts like Traditional IRA, Roth IRA, and others.

There are several reputable apps for investing in stocks, including Robinhood, TD Ameritrade, E*TRADE, and Fidelity. Each of these apps offers different features and benefits to cater to diverse investor needs.

Yes, Robinhood is a good platform for beginners because it offers commission-free trading and a simple, user-friendly interface. The app allows for investing in stocks, ETFs, and cryptocurrencies.

TD Ameritrade stands out due to its extensive resources for market research and its diversity of investment options. Additionally, it does not require a minimum account balance, making it approachable for new investors.

Yes, apps such as Robinhood and TD Ameritrade are free to download but they do charge fees for certain transactions and services. Always review the fee structure before committing to a platform.

Yes, Robinhood supports day trading. However, keep in mind that certain rules and regulations are applied to protect investors from risky trading behaviors.

No, TD Ameritrade does not require a minimum account balance to start investing in stocks. This makes it a great platform for beginners and small-scale investors.

Yes, Robinhood offers educational materials to help users learn the basics of investment strategies and how the stock market works.

Yes, TD Ameritrade has quite a number of features for advanced traders, including a wide array of research tools, complex options trading, and futures and forex trading.

Robinhood currently allows users to invest in a select number of international companies via American Depositary Receipts (ADRs).

TD Ameritrade offers a range of account types including individual and joint accounts, retirement accounts, education accounts, and specialty accounts.

Robinhood uses advanced security measures to protect user data, including encryption and two-factor authentication.

Yes, TD Ameritrade offers 24/7 customer support to assist with any issues or questions related to their trading platform.

No, Robinhood does not charge commission fees for trades, making it a popular choice among new investors.

Yes, TD Ameritrade is accessible on multiple devices including desktop, tablets and smartphones through their app.

No, there’s no limit on how many trades you can make on Robinhood, but it’s important to stay aware of the federal regulations regarding Pattern Day Trading.

Yes, TD Ameritrade supports options trading, as well as futures and forex trading.

As of now, Robinhood does not offer retirement accounts like Individual Retirement Accounts (IRAs).

In addition to the TD Ameritrade mobile app, they also offer the Web Platform for beginner traders and thinkorswim for more advanced traders.

Yes, Robinhood allows users to invest in a variety of cryptocurrencies like Bitcoin, Ethereum, and more.

Yes, TD Ameritrade provides a wide range of educational resources, including articles, videos, webcasts, and even virtual trading to practice strategies risk-free.