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TD Ameritrade vs Robinhood (best stock apps / software)

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Winner
Ease of Use
Research & Tools
Investment Options
Educational Resources
Platform Design
Customer Support
Mobile App
Security
Trading Options
Fees
FREE / PAID
TD Ameritrade’s strong suit is its free ETF trading. The app offers free trades on a wide variety of ETFs, mutual funds, and stocks. There are no commission fees charged when trading most U.S. listed stocks online.
Robinhood’s main selling point is its 0% commission on stocks, ETFs, options, and cryptocurrency trades, allowing you to make trades for free. They offer a premium plan called Robinhood Gold that starts at $5 per month and offers features like professional research and Level II market data.
Conclusion

With TD Ameritrade, it’s all about a no-cost, comprehensive educational resources and an extensive range of investment options .

Robinhood offers a well-designed and user-friendly platform , makes trading free and easy, ideal for beginners .

TD Ameritrade Pros & Cons

Top Pros
  • Great customer service

  • User-friendly platform ‍

  • Wide portfolio options

  • High-quality and free educational resources ‍

  • Great for long-term investments

Robinhood Pros & Cons

Top Pros
  • Sleek and intuitive platform design

  • Free stock and ETF trading

  • Ideal for beginners

  • Easy to use mobile app

  • Cryptocurrency trading

  • Game-like user experience

Top Cons
  • If you’re looking for options, it can seem overwhelming

  • Not ideal for active traders ⏱️

  • The website can be difficult to navigate

  • Fewer educational resources for advanced investors

  • No demo account for beginners

  • Mobile platform can be a bit clunky

Top Cons
  • Limited customer support

  • No retirement accounts

  • Limited portfolio analysis tools

  • Some may view the platform as too basic ⛔

  • Lack of educational resources

Other best stock apps

3

Webull is designed for intermediate and experienced traders, with in-depth analytical tools and charting software 📊.

4

E*TRADE provides a solid and easy-to-use platform with excellent research tools 📚, but more suitable for more experienced traders 👩‍💼.

5

Fidelity shines with its unrivaled research and great platform for long-term and retirement-focused investors 👴.

FAQ

TD Ameritrade’s mobile app offers a wide range of features designed for both beginner and experienced traders. These include real-time stock quotes, detailed research tools, customizable charts, integrated fund transfer system, and the ability to trade equities, options, futures, and forex.

Yes, Robinhood does allow users to trade options. The app provides tools for users to assess potential risk and rewards, but it’s important for users to understand how options trading works before getting involved.

While TD Ameritrade does not charge commission fees for online stock, ETF, and options trades, there might be other costs related to trading or account services. Always review all costs associated with any trading activity.

Apart from TD Ameritrade and Robinhood, other reputable stock trading apps include E*Trade, Fidelity, Charles Schwab, and Interactive Brokers. These apps are known for their user-friendly interfaces, extensive research tools, and comprehensive services.

Robinhood is generally user-friendly and easy to navigate, making it a reasonable choice for new investors. However, its research tools and educational resources are limited compared to some other platforms, so beginners interested in learning more about investing may need to seek additional resources.

Robinhood makes money through a variety of means, despite offering commission-free trades. These include interest earned from customers’ cash balances, premium subscriptions for its Robinhood Gold service, and selling order information to high-frequency trading firms.

Yes, TD Ameritrade offers a robust suite of educational resources. This includes articles, videos, webcasts, and live workshops related to investing and financial planning. These are available for free to all users of the platform.

The choice between TD Ameritrade and Robinhood depends on your investment needs. Robinhood’s user interface is simpler and may be the better choice for beginners, while TD Ameritrade provides more in-depth research tools and customer service, which could benefit more experienced traders.

Yes, Robinhood does allow users to buy and sell cryptocurrencies. This includes major coins like Bitcoin, Ethereum, and Litecoin, in addition to smaller altcoins.

TD Ameritrade offers a robust set of technical analysis tools. These include advanced charting with dozens of technical indicators, research reports, market commentary, and realtime streaming news from credible sources.

No, there is no minimum deposit requirement to open a basic Robinhood account. However, there may be minimums for certain types of trades or to qualify for a Robinhood Gold account.

TD Ameritrade is a member of the FINRA/SIPC, which means customers’ assets are protected up to certain limits in the unlikely event of the brokerage’s insolvency. Moreover, they have additional measures such as encryption and two-factor authentication to further protect clients’ data and money.

No, currently Robinhood only supports trading on the major U.S. exchanges and does not offer international trading. However, users can still invest in U.S.-based international funds or in companies that have listed their shares on U.S. exchanges.

TD Ameritrade offers a variety of account types. These include standard brokerage accounts, joint accounts, retirement accounts (like IRAs), education savings accounts, and specialty accounts for trusts or small businesses.

No, at the moment, Robinhood does not offer specialized retirement accounts like IRAs or 401(k)s. Users can only open individual taxable accounts.

Yes, TD Ameritrade allows users to transfer their accounts from other brokerages. The process typically involves filling out a transfer form and can take several weeks to complete.

Yes, Robinhood offers customer support. However, it is primarily through email and their extensive FAQ page on the Robinhood website. They do not offer phone support.

Thinkorswim is TD Ameritrade’s platform for advanced traders. It offers complex charting capabilities, simulated trading, strategy backtesting, and the ability to trade equities, options, futures, and forex.

Yes, Robinhood offers a feature called DRIP (Dividend Reinvestment Plan) which allows users to automatically reinvest their dividends back into more shares of the same stock.

Yes, TD Ameritrade offers a robo-advisor service known as Essential Portfolios. The service uses algorithms to automatically manage and rebalance a portfolio based on the client’s personal goals, risk tolerance, and time horizon.

The TD Ameritrade app is a mobile application from one of the largest online brokerage firms in the United States that allows users to trade and monitor stocks, bonds, ETFs, and more. The app offers several features such as advanced charting, custom alerts, access to research from top firms, and more. Users can also engage in commission-free trading on thousands of securities and won’t be charged any platform fees.

At the moment, trading cryptocurrency is not supported on the TD Ameritrade platform. Nevertheless, the platform offers a wide variety of securities for trading, including stocks, bonds, ETFs, and options.

The Robinhood app focuses on simplicity and ease of use, making it a great choice for first-time investors. Unlike many traditional brokerages, Robinhood offers commission-free trading and it allows users to trade in stocks, bonds, cryptocurrencies, and more. The app design is sleek and user-friendly, making it a popular choice among Millennials.

Yes, Robinhood is safe to use. It uses state-of-the-art security measures to protect users’ accounts and personal information. It’s also a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), which provides protection up to $500,000 per customer.

TD Ameritrade offers commission-free online stock, ETF, and options trades. However, there’s a $0.65 per contract fee for options trades and a $5 fee for trading stocks and ETFs by phone and a $25 fee for broker-assisted trades.

As of the moment, Robinhood does not offer traditional retirement accounts like IRAs or 401(k)s. They are primarily focused on taxable accounts.

The TD Ameritrade mobile app works on iOS (iPhone and iPad) and Android devices. The only requirement is a stable internet connection to execute trades and view market information.

Robinhood offers a learning center called Robinhood Learn that provides educational articles on various financial and investment topics aimed at helping users improve their investment knowledge.

Along with the TD Ameritrade mobile app, they also provide a web platform and Thinkorswim, a sophisticated trading platform ideal for advanced traders and includes real-time market data and more advanced analytics tools.

Yes, you can. Robinhood does not have a minimum account balance requirement, which means you can start investing with any amount you’re comfortable with.

Yes, TD Ameritrade offers a broad selection of mutual funds to choose from, making it easier for users to diversify their portfolios according to their personal risk tolerance and investment goals.

Yes, Robinhood has implemented a feature known as Dividend Reinvestment Plan (DRIP). This allows dividends from stocks and ETFs to be automatically reinvested back into the stock or ETF.

TD Ameritrade provides excellent customer support including 24/7 phone support, live chat, and email. They also offer localized support in branches across the United States.

Yes, Robinhood provides annual tax documents that users can download directly from the app. These documents are made available by February of each year.

With TD Ameritrade, you can open a wide variety of accounts including individual and joint accounts, retirement accounts (Traditional, Roth, and Rollover IRAs), education savings accounts, and more.

No, as of now, Robinhood only supports individual taxable accounts. They do not support joint accounts, custodial accounts, or trust accounts.

TD Ameritrade has no inactivity fee. You won’t be charged any fees if you do not carry out any trading activities in your account for a period of time.

Yes, Robinhood provides a premium tier called Robinhood Gold, which costs $5 per month and offers features like access to larger instant deposits, more research reports, and data about upcoming earnings.

TD Ameritrade clients get free access to independent research from industry leaders, including expert analysis, stock market commentary, thumbnails, streaming news, and more through the app.

Currently, Robinhood only supports trading of U.S. listed stocks and ETFs. It does not support trading of international stocks from foreign exchanges.