Discover our detailed comparison of ETrade and Robinhood to help determine which is best for you. Whether you’re a seasoned trader or just starting out, choosing the right platform can significantly impact your trading experience.
To make your research easier, we manually found key data for ETrade and Robinhood across the internet and compiled it all in this article.
Key Characteristics of ETrade and Robinhood
| Provider | Platform Type | Tradeable Assets | Charting Features | Data | Premium Pricing |
|---|---|---|---|---|---|
| ETrade Visit Site | Brokerage Platform | Stocks, ETFs, Mutual Funds, Options, Futures, Futures Options, Crypto, Bonds | Power ETrade Platform | Real-time data with funded account | No premium features |
| Robinhood Get a Free Stock | Brokerage Platform | Stocks, ETFs, Options, Crypto | Basic charting on mobile and web app | Real-time data with funded account | $5/mo for Gold |
Overview of ETrade
Founded in 1982, ETRADE was one of the first companies to offer electronic trading to individual investors, making it easier for the general public to participate in the stock market without the need for traditional face-to-face transactions with brokers. ETrade offers competitive pricing for derivative trading and offers a trading platform for charting and analysis.
Overview of Robinhood
Robinhood is a popular commission-free brokerage platform that was founded in 2013. It gained significant attention for its user-friendly mobile app and the democratization of investing by eliminating traditional trading fees. Robinhood has attracted a large user base, primarily consisting of millennials and new investors seeking easy access to financial markets.
Who is ETrade Best For?
ETrade is best for long-term investors and active traders alike, but it is just okay compared to other platforms. If you are a long-term investor, ETrade is great, but it doesn’t offer as much flexibility with fractional shares. It is also not the broker of choice for active traders, since much better platforms like tastytrade and thinkorswim are available.
Who is Robinhood Best For?
Robinhood is best for beginners who want easy access to stocks, options, and crypto. The mobile app has an amazingly simple design, allowing anybody to take control of their financial future. Robinhood is a great choice for all investors except active traders requiring more advanced charting and order placement tools.
Trading Features and Tools
| Provider | DRIP | Margin Trading | Insurance | Mobile App |
|---|---|---|---|---|
| ETrade Visit Site | Yes, no fees in most cases | Yes | SIPC/FDIC Insured | Yes |
| Robinhood Get a Free Stock | Yes, no fees | Yes | SIPC Insured | Yes |
Trading Costs and Commissions Compared
| Fee Type | ETrade Visit Site | Robinhood Get a Free Stock |
|---|---|---|
| Equity Commission | Free | Free |
| Option Commission | $0.65 per contract | Free |
| Futures Commission | $1.50 per contract | No futures |
| Futures Options Commission | Must call to activate futures options | No futures options |
| Option Exercise Fee | None | None |
ETrade vs Robinhood – Bottom Line
Choosing between ETrade and Robinhood depends on your specific trading needs, preferred trading tools, and the type of assets you’re interested in.
Both platforms offer distinct advantages, but by considering the detailed comparison above, you can select the one that aligns best with your trading strategy and goals.
For more detailed reviews and comparisons, continue exploring our other articles on brokerage platform comparisons.
What is the Overall Best Charting Software?
I have reviewed and used nearly every trading platform available, and I believe that TradingView is the best overall charting software available. Here are some reasons why:
- All of TradingView’s key features are free to use
- TradingView provides real-time data for free whenever possible
- You are not tied to a single broker and can use whichever you want while charting on TradingView
- You can track all markets on a single platform, including stocks, ETFs, crypto, forex, and futures.
- TradingView has an excellent economic calendar and various screeners
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