The best alternatives to Robinhood are
- SoFi Invest - US discount broker
- Webull - US discount broker
- moomoo - US zero-fee discount broker
- Alpaca Trading - US API broker
Let's see in a bit more detail how the Robinhood alternatives compare to Robinhood and each other:
Overall score
|
4.3 stars | 4.4 stars | 4.6 stars | 4.6 stars | 4.4 stars |
---|---|---|---|---|---|
Fees score
|
4.5 stars | 4.5 stars | 4.6 stars | 4.8 stars | 4.6 stars |
Account opening score
|
5.0 stars | 4.4 stars | 5.0 stars | 4.4 stars | 5.0 stars |
Deposit and withdrawal score
|
1.2 stars | 1.6 stars | 1.3 stars | 1.2 stars | 1.2 stars |
Web platform score
|
4.5 stars | 3.5 stars | 5.0 stars | - | 3.7 stars |
Markets and products score
|
2.8 stars | 2.0 stars | 2.8 stars | 2.4 stars | 2.4 stars |
|
Visit broker | Visit broker | Visit broker | Visit broker | Visit broker |
Why are these brokers considered good alternatives to Robinhood? There are many areas based on which Robinhood can be compared with others. When we say a given online broker is a good alternative to Robinhood we mean these brokers are comparable in the following areas:
- The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
- The type of clients they target, i.e. beginners, experienced investors, or day traders.
Robinhood alternatives recommendations
Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:
- Robinhood is recommended for beginners and buy-and-hold investors focusing on the us stock market
- SoFi Invest is recommended for beginners and investors looking for zero-commission trading, focusing on the us market
- Webull is recommended for investors and traders looking for zero-commission trading and easy platforms
- moomoo is recommended for investors and traders looking for zero-commission trading and focusing on us markets
- Alpaca Trading is recommended for traders interested in algorithmic stock trading
Important factors of finding Robinhood alternatives
So far BrokerChooser has reviewed 101 online brokers in detail, which gives this comparison a solid starting point.
Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we
- open a live account
- check over 100 criteria, with weighting based on readers' preferences
- refresh data regularly
Whether Robinhood or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:
Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. Robinhood is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost Robinhood alternative.
Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At Robinhood this is not a problem as you can have it ready on the same day you registered.
Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at Robinhood, some alternatives might allow you to do that.
Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.
Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Robinhood alternative is a must.
Now let's dive into the details of how Robinhood and its alternatives perform in the most important areas!
SoFi Invest
Recommended for beginners and investors looking for zero-commission trading, focusing on the US market
US stock
|
$0.0
|
$0.0
|
---|
Minimum deposit
|
$0
|
$0
|
---|---|---|
Time to open account
|
1-3 days | 1 day |
If you are interested more in SoFi Invest minimum deposit, this overview will help you.
Bank transfer
|
Yes | Yes |
---|---|---|
Credit/debit card
|
No | No |
Electronic wallets
|
No | No |
Withdrawal fee
|
$0
|
$0
|
Web platform score
|
3.5 stars | 4.5 stars |
---|---|---|
Mobile platform score
|
4.7 stars | 5.0 stars |
Desktop platform score
|
- | - |
Learn more about SoFi Invest's web trading platform in the detailed SoFi Invest review.
Stocks
|
Yes |
Yes
|
---|---|---|
ETFs
|
Yes |
Yes
|
Forex
|
No | No |
Funds
|
No | No |
Bonds
|
No | No |
Options
|
No |
Yes
|
Futures
|
No | No |
CFDs
|
No | No |
Crypto
|
No |
Yes
|
Webull
Recommended for investors and traders looking for zero-commission trading and easy platforms
US stock
|
$0.0
|
$0.0
|
---|
Minimum deposit
|
$0
|
$0
|
---|---|---|
Time to open account
|
1 day | 1 day |
If you are interested more in Webull minimum deposit, this overview will help you.
Bank transfer
|
Yes | Yes |
---|---|---|
Credit/debit card
|
No | No |
Electronic wallets
|
No | No |
Withdrawal fee
|
$0
|
$0
|
Web platform score
|
5.0 stars | 4.5 stars |
---|---|---|
Mobile platform score
|
5.0 stars | 5.0 stars |
Desktop platform score
|
5.0 stars | - |
Learn more about Webull's web trading platform in the detailed Webull review.
Stocks
|
Yes |
Yes
|
---|---|---|
ETFs
|
Yes |
Yes
|
Forex
|
No | No |
Funds
|
No | No |
Bonds
|
No | No |
Options
|
Yes |
Yes
|
Futures
|
No | No |
CFDs
|
No | No |
Crypto
|
Yes |
Yes
|
moomoo
Recommended for investors and traders looking for zero-commission trading and focusing on US markets
US stock
|
$0.0
|
$0.0
|
---|
Minimum deposit
|
$0
|
$0
|
---|---|---|
Time to open account
|
1-3 days | 1 day |
If you are interested more in moomoo minimum deposit, this overview will help you.
Bank transfer
|
Yes | Yes |
---|---|---|
Credit/debit card
|
No | No |
Electronic wallets
|
No | No |
Withdrawal fee
|
$0
|
$0
|
Web platform score
|
- | 4.5 stars |
---|---|---|
Mobile platform score
|
4.5 stars | 5.0 stars |
Desktop platform score
|
4.5 stars | - |
Learn more about moomoo's web trading platform in the detailed moomoo review.
Stocks
|
Yes |
Yes
|
---|---|---|
ETFs
|
Yes |
Yes
|
Forex
|
No | No |
Funds
|
Yes | No |
Bonds
|
No | No |
Options
|
Yes |
Yes
|
Futures
|
Yes | No |
CFDs
|
No | No |
Crypto
|
No |
Yes
|
Alpaca Trading
Recommended for traders interested in algorithmic stock trading
US stock
|
$0.0
|
$0.0
|
---|
Minimum deposit
|
$0
|
$0
|
---|---|---|
Time to open account
|
1 day | 1 day |
If you are interested more in Alpaca Trading minimum deposit, this overview will help you.
Bank transfer
|
Yes | Yes |
---|---|---|
Credit/debit card
|
No | No |
Electronic wallets
|
No | No |
Withdrawal fee
|
$0
|
$0
|
Web platform score
|
3.7 stars | 4.5 stars |
---|---|---|
Mobile platform score
|
4.2 stars | 5.0 stars |
Desktop platform score
|
- | - |
Learn more about Alpaca Trading's web trading platform in the detailed Alpaca Trading review.
Stocks
|
Yes
|
Yes
|
---|---|---|
ETFs
|
Yes
|
Yes
|
Forex
|
No | No |
Funds
|
No | No |
Bonds
|
No | No |
Options
|
No |
Yes
|
Futures
|
No | No |
CFDs
|
No | No |
Crypto
|
Yes |
Yes
|
Robinhood
Recommended for beginners and buy-and-hold investors focusing on the US stock market
US stock
|
$0.0
|
$0.0
|
$0.0
|
$0.0
|
$0.0
|
---|
Minimum deposit
|
$0
|
$0
|
$0
|
$0
|
$0
|
---|---|---|---|---|---|
Time to open account
|
1 day | 1-3 days | 1 day | 1-3 days | 1 day |
Learn more about Robinhood minimum deposit here.
Bank transfer
|
Yes | Yes | Yes | Yes | Yes |
---|---|---|---|---|---|
Credit/debit card
|
No | No | No | No | No |
Electronic wallets
|
No | No | No | No | No |
Withdrawal fee
|
$0
|
$0
|
$0
|
$0
|
$0
|
Web platform score
|
4.5 stars | 3.5 stars | 5.0 stars | - | 3.7 stars |
---|---|---|---|---|---|
Mobile platform score
|
5.0 stars | 4.7 stars | 5.0 stars | 4.5 stars | 4.2 stars |
Desktop platform score
|
- | - | 5.0 stars | 4.5 stars | - |
Learn more about Robinhood's web trading platform in the detailed Robinhood review.
Stocks
|
Yes
|
Yes | Yes | Yes |
Yes
|
---|---|---|---|---|---|
ETFs
|
Yes
|
Yes | Yes | Yes |
Yes
|
Forex
|
No | No | No | No | No |
Funds
|
No | No | No | Yes | No |
Bonds
|
No | No | No | No | No |
Options
|
Yes
|
No | Yes | Yes | No |
Futures
|
No | No | No | Yes | No |
CFDs
|
No | No | No | No | No |
Crypto
|
Yes
|
No | Yes | No | Yes |
Bottom line
Based on our analysis, there are several good alternatives to Robinhood. They all offer similar products and target similar customers. Here's a recap of the results in a table.
Broker intro
|
Recommended for
|
|
---|---|---|
US zero-fee discount broker | Beginners and buy-and-hold investors focusing on the US stock market | |
US discount broker | Beginners and investors looking for zero-commission trading, focusing on the US market | |
US discount broker | Investors and traders looking for zero-commission trading and easy platforms | |
US zero-fee discount broker | Investors and traders looking for zero-commission trading and focusing on US markets | |
US API broker | Traders interested in algorithmic stock trading |
Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.
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