Discover our detailed comparison of MT4 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 MT4 and Robinhood across the internet and compiled it all in this article.
Key Characteristics of MT4 and Robinhood
Provider | Platform Type | Tradeable Assets | Charting Features | Data | Premium Pricing |
---|---|---|---|---|---|
MT4 Visit Site | Charting and Trading Software | Not a broker | Free charting platform | Depends on broker | Free, just connect a broker |
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 MT4
Meta Trader 4 (MT4) is a charting platform that is mostly used by Forex traders. You can also chart stocks and other assets depending on which broker you connect.
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 MT4 Best For?
MT4 is best for those who already have a broker tha is compatible with it. Otherwise, there are much better charting platforms like TradingView or TrendSpider.
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 |
---|---|---|---|---|
MT4 Visit Site | Not a broker | Not a broker | Not a broker | Yes |
Robinhood Get a Free Stock | Yes, no fees | Yes | SIPC Insured | Yes |
Trading Costs and Commissions Compared
Fee Type | MT4 Visit Site | Robinhood Get a Free Stock |
---|---|---|
Equity Commission | Not a broker | Free |
Option Commission | Not a broker | Free |
Futures Commission | Not a broker | No futures |
Futures Options Commission | Not a broker | No futures options |
Option Exercise Fee | Not a broker | None |
MT4 vs Robinhood – Bottom Line
Choosing between MT4 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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