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Robinhood vs. thinkorswim – A Detailed Comparison

Discover our detailed comparison of Robinhood and thinkorswim 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 Robinhood and thinkorswim across the internet and compiled it all in this article. 

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.

Overview of thinkorswim

thinkorswim was founded by Tom Sosnoff in the late 90s, and is one of the most popular trading platforms today. thinkorswim allows you to use advanced charting tools, custom indicators, screeners, trade options, and more! thinkorswim itself is not a brokerage, but is compatible with Schwab and TD Ameritrade customers.

Key Characteristics of Robinhood and thinkorswim

FeatureRobinhoodthinkorswim
Platform TypeBrokerage PlatformTrading Platform (Schwab)
Tradeable AssetsStocks, ETFs, Options, CryptoStocks, ETFs, Mutual Funds, Options, Index Options, Futures, Futures Options, Bonds
Charting FeaturesBasic charting on mobile and web appDownloadable desktop platform and web app
DataReal-time data with funded accountReal-time data with funded account
Premium Pricing$5/mo for GoldNo premium features

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.

Who is thinkorswim Best For?

thinkorswim is best for traders who already use Schwab or TD Ameritrade, and want an excellent trading platform for technical analysis, options trading, news, and more!

Trading Features and Tools

FeatureRobinhoodthinkorswim
DRIPYes, no feesYes, no fees
Margin TradingYesYes
InsuranceSIPC InsuredNot a broker
Mobile AppYesYes

Trading Costs and Commissions Compared

Fee TypeRobinhoodthinkorswim
Equity CommissionFreeFree
Option CommissionFree$0.65 per contract
Futures CommissionNo futures$2.25 per contract
Futures Options CommissionNo futures options$2.25 per contract
Option Exercise FeeNoneNone

Robinhood vs thinkorswim – Bottom Line

Choosing between Robinhood and thinkorswim 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

If you sign up for a TradingView account using my affiliate link, you can get a 30-day free trial of its premium features plus a $15 credit toward your subscription. However, signing up for a free trial is not required, and you can use nearly all of its features with a basic free account. You can read my full review of TradingView to learn more. 

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