Discover our detailed comparison of Robinhood and Tradestation 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 Tradestation across the internet and compiled it all in this article.
Key Characteristics of Robinhood and Tradestation
| Provider | Platform Type | Tradeable Assets | Charting Features | Data | Premium Pricing |
|---|---|---|---|---|---|
| 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 |
| Tradestation Learn More | Brokerage Platform | Stocks, ETFs, Mutual Funds, Options, Futures, Futures Options, Crypto, Forex | Downloadable and web trading platforms | Real-time data with funded account | No premium features |
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 Tradestation
TradeStation is a brokerage firm that caters to active traders and very serious investors who demand a comprehensive platform with advanced trading features and analytical tools. While TradeStation is a solid brokerage, options traders must be aware of the abnormally high exercise fees.
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 Tradestation Best For?
TradeStation is best suited for traders who need a sophisticated trading environment. Its platform might be overwhelming for beginners but is highly appreciated by experienced traders for its depth, flexibility, and range of professional-grade tools.
Trading Features and Tools
| Provider | DRIP | Margin Trading | Insurance | Mobile App |
|---|---|---|---|---|
| Robinhood Get a Free Stock | Yes, no fees | Yes | SIPC Insured | Yes |
| Tradestation Learn More | No | Yes | SIPC Insured | Yes |
Trading Costs and Commissions Compared
| Fee Type | Robinhood Get a Free Stock | Tradestation Learn More |
|---|---|---|
| Equity Commission | Free | Free |
| Option Commission | Free | $0.60 per contract |
| Futures Commission | No futures | $1.50 per contract, $0.50 micro |
| Futures Options Commission | No futures options | $1.50 per contract |
| Option Exercise Fee | None | $14.95 fee at expiration, early exercise is $1.50 per contract with $5,95 minimum |
Robinhood vs Tradestation – Bottom Line
Choosing between Robinhood and Tradestation 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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