Discover our detailed comparison of Robinhood and Tradovate 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 Tradovate across the internet and compiled it all in this article.
Key Characteristics of Robinhood and Tradovate
| 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 |
| Tradovate Get a Funded Account | Futures Brokerage Platform | Futures, Futures Options, Forex | Charting platform with subscription fee including volume and market profile | Real-time data with funded account | $99 per month or $1,499 lifetime for reduced commissions |
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 Tradovate
Tradovate is a futures trading brokerage platform with competitive pricing and trading tools. You can buy commission plans to reduce your commission rates and trade micro contracts for less than a few hundred dollars. It also has decent charting tools with advanced indicators like the volume profile, but I would still prefer TradingView’s charting.
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 Tradovate Best For?
Tradovate is best for those looking to trade futures with low commissions, especially if you trade enough to justify a monthly fee to lower your rates. However, Tradovate is primarily only for futures, so it is not for those looking to branch out into other assets like stocks and ETFs.
Trading Features and Tools
| Provider | DRIP | Margin Trading | Insurance | Mobile App |
|---|---|---|---|---|
| Robinhood Get a Free Stock | Yes, no fees | Yes | SIPC Insured | Yes |
| Tradovate Get a Funded Account | No equity | Yes | Not insured | Yes |
Trading Costs and Commissions Compared
| Fee Type | Robinhood Get a Free Stock | Tradovate Get a Funded Account |
|---|---|---|
| Equity Commission | Free | No equity |
| Option Commission | Free | No equity options |
| Futures Commission | No futures | $1.29 per contract, $0.35 micro |
| Futures Options Commission | No futures options | Not specified, likely the same as regular futures |
| Option Exercise Fee | None | None |
Robinhood vs Tradovate – Bottom Line
Choosing between Robinhood and Tradovate 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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