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Robinhood Alternatives

May 2019
Our top picks for Robinhood alternatives
Saxo Bank
DEGIRO
Robinhood Alternatives

The best alternatives to Robinhood are

  1. Saxo Bank - Danish investment bank
  2. DEGIRO - Dutch discount broker
  3. Chase You Invest - US-based discount broker

Let's see in a bit more detail how the Robinhood alternatives compare to Robinhood and each other:

Robinhood alternatives comparison
Robinhood Saxo Bank DEGIRO Chase You Invest
Overall score 4.1 4.7 4.7 4.5
Fees score 4 stars 3 stars 5 stars 5 stars
Account opening score 5 stars 3 stars 5 stars 5 stars
Deposit and withdrawal score 3 stars 5 stars 3 stars 2 stars
Web platform score 5 stars 5 stars 4 stars 3 stars
Markets and products score 1 stars 4 stars 3 stars 2 stars
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
  • Saxo Bank is recommended for investors and traders looking for a great trading platform and solid research
  • DEGIRO is recommended for price-sensitive buy and hold investors and traders looking for only execution
  • Chase You Invest is recommended for beginners and buy and hold investors focusing on the us stock market

Important factors of finding Robinhood alternatives

So far Brokerchooser has reviewed 56 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!

Robinhood alternatives
Robinhood

4.1 4 stars

Best for beginners

Robinhood logo

Robinhood is a US zero-fee or discount broker established in 2013. If you don't know what discount broker means, read this overview about the best discount brokers in 2018.

Robinhood is considered safe because it is supervised by FINRA, the US regulator and provides a maximum of $500,000 investor protection including a $250,000 limit for cash.

Recommended for beginners and buy and hold investors focusing on the us stock market

Pros
  • Commission-free US stock trading
  • Great mobile and web trading platforms
  • Fast and fully digital account opening
Cons
  • Available only for US and Australian clients
  • Weak customer support
  • Limited product portfolio

Visit broker

Fees 4 stars

US stock trading is free at Robinhood. There are no inactivity fee and withdrawal fees. On the flip side, Robinhood has really high commission for non-US stocks.
Pros
  • No withdrawal fee
  • No inactivity fee
  • Commission-free US stock trading
Cons
  • High financing rate
  • High trading fees of non-US stocks
Robinhood alternatives trading fees
Robinhood Saxo Bank DEGIRO Chase You Invest
Apple benchmark fee $0.0 $20.0 $1.4 $6.1
Vodafone benchmark fee $100.0 $15.0 $5.2 -
EURUSD benchmark fee - $58.4 - -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

Account opening 5 stars

Robinhood account opening is seamless and fully digital. Your account will be opened within a day. On the flip side, the account opening is only available for US and Australian clients.
Pros
  • Fast account opening
  • Fully digital account opening
  • No minimum deposit
  • User-friendly
Cons
  • It is only availalbe for the US and the Australian clients
Robinhood alternatives minimum deposit and account open times
Robinhood Saxo Bank DEGIRO Chase You Invest
Minimum deposit $0 $725 $0 $0
Time to open account 1 day 1-3 days 1 day 1 day

Learn more about Robinhood minimum deposit here.

More Visit broker

Deposit and withdrawal 3 stars

Robinhood deposit and withdrawal are very easy and user-friendly. On the flip side, you can only use bank transfer.
Pros
  • No deposit fee
  • User-friendly
  • Instant deposit up to $1,000 per week
Cons
  • Credit/Debit card not available
  • Lengthy deposit if you don't use the instant deposit
Robinhood and alternatives withdrawal options and fees
Robinhood Saxo Bank DEGIRO Chase You Invest
Bank Transfer Yes Yes Yes Yes
Credit/Debit card No No No No
Electronic wallets No No No No
Withdrawal fee $0 $0 $0 $0

More Visit broker

Web trading platform 5 stars

Robinhood provides a well-designed and user-friendly web trading platform.
Pros
  • User-friendly
  • Clear fee report
  • Looks appealing
Cons
  • Customizability is missing
Robinhood - Web trading platform
Robinhood and alternatives trading platform scores
Robinhood Saxo Bank DEGIRO Chase You Invest
Web platform score 5 stars 5 stars 4 stars 3 stars
Mobile platform score 5 stars 5 stars 4 stars 4 stars
Desktop platform score - 5 stars - -

Learn more about Robinhood's web trading platform in the detailed Robinhood review.

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Markets and products 1 stars

Robinhood's product portfolio is limited. It offers only stocks, ETFs, options, and cryptos. Furthermore, these assets are mainly limited to the US markets.
Robinhood and alternatives markets and products
Robinhood Saxo Bank DEGIRO Chase You Invest
Stock Yes Yes Yes Yes
ETF Yes Yes Yes Yes
Forex No Yes No No
Fund No No Yes Yes
Bond No Yes Yes Yes
Options Yes Yes Yes No
Futures No Yes Yes No
CFD No Yes Yes No
Crypto Yes Yes Yes No

More Visit broker

Verdict

Robinhood fees are great. US stocks trading is commission-free, and there is no withdrawal or inactivity fee. Robinhood has awesome, user-friendly mobile and web trading platforms. The account opening is easy, fully digital, and fast.

Robinhood has some drawbacks though. It is available only for US and Australian clients. The customer support is poor, you can only reach them via e-mail and it takes time to get an answer. Most products you can trade with are just from the US market. 

If you want to trade with US stocks for free and prefer an easy-to-use platform, Robinhood is the best choice. 

Robinhood
Summary Robinhood is a US-based zero commission broker. It is regulated by FINRA, the top-tier US regulator.
Fees score 4 stars
Recommended for Beginners and buy and hold investors focusing on the US stock market

More Visit broker

Robinhood alternatives
Saxo Bank

4.7 5 stars

Best trading platform

Saxo Bank logo

Saxo Bank is a Danish investment bank providing online trading and investments. It is a leading European retail brokerage innovator. Saxo is privately owned, established in 1992, and headquartered in Copenhagen.

Saxo is considered safe as it is regulated worldwide by more than 10 financial regulators, including top-tier regulators, like the UK FCA.

Recommended for investors and traders looking for a great trading platform and solid research

Pros
  • Outstanding research
  • Great trading platform
  • Broad product portfolio
Cons
  • High forex, bond, options, and futures fees
  • Slow account opening
  • Missing live chat

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Fees 3 stars

Saxo Bank has average trading and non-trading fees.
Pros
  • No withdrawal fee
  • Transparent fee structure
  • Lower fees for Platinum and VIP clients
Cons
  • Inactivity fee
  • High financing rate
  • High forex, bond, options and futures fees
Robinhood vs. Saxo Bank: Trading fees
Saxo Bank Robinhood
Apple benchmark fee $20.0 $0.0
Vodafone benchmark fee $15.0 $100.0
EURUSD benchmark fee $58.4 -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

Account opening 3 stars

Account opening is available for residents of almost every country and is fully digital.
Pros
  • Fast account opening
  • Fully digital account opening
  • Available for residents of almost every country
Cons
  • Minimum deposit is higher than $500
  • Sales team pushy
  • Classic accounts available only in a single currency
Robinhood vs. Saxo Bank: Minimum deposit, time to open an account
Saxo Bank Robinhood
Minimum deposit $725 $0
Time to open account 1-3 days 1 day

If you are interested more in Saxo Bank minimum deposit, this overview will help you.

More Visit broker

Deposit and withdrawal 5 stars

Saxo provides multiple deposit and withdrawal options free of charge on a user-friendly interface.
Pros
  • Free withdrawal
  • No deposit fee
  • Several account base currencies
Cons
  • Credit/Debit card withdrawal not available
Robinhood vs. Saxo Bank: Withdrawal options
Saxo Bank Robinhood
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

More Visit broker

Web trading platform 5 stars

Saxo Bank's web trading platform is easy-to-use and well-designed. However, it doesn't provide a two-step login and the customizability is limited.
Pros
  • User-friendly
  • Good search function
  • Looks appealing
Cons
  • No two-step (safer) login
  • Limited customizability (for charts, workspace)
Web trading platform of Saxo Bank, a Robinhood alternative
Robinhood vs. Saxo Bank: Trading platform scores
Saxo Bank Robinhood
Web platform score 5 stars 5 stars
Mobile platform score 5 stars 5 stars
Desktop platform score 5 stars -

Learn more about Saxo Bank's web trading platform in the detailed Saxo Bank review.

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Markets and products 4 stars

At Saxo Bank you can reach many markets and trade with a lot of different products, except for funds.
Robinhood vs. Saxo Bank: Markets and products
Saxo Bank Robinhood
Stock Yes Yes
ETF Yes Yes
Forex Yes No
Fund No No
Bond Yes No
Options Yes Yes
Futures Yes No
CFD Yes No
Crypto Yes Yes

More Visit broker

Verdict

Saxo Bank is a great broker, providing a complex and good service.

It has the best trading platforms backed by great research. The product portfolio is covering all important international markets and asset classes.

It has some drawbacks though. The fees for forex, bond, options, and futures are high. The account opening can take long and the live chat is missing.

In general, Saxo Bank is one of the best online brokerage companies you can choose. By opening an account, you end up with a broad, well-developed service.

Saxo Bank
Summary Saxo Bank is a Danish investment bank. It is regulated by more than 10 financial authorities, including the top-tier FCA.
Fees score 3 stars
Recommended for Investors and traders looking for a great trading platform and solid research

More Visit broker

Robinhood alternatives
DEGIRO

4.7 5 stars

Best discount broker

DEGIRO logo

DEGIRO is a trending Dutch online discount broker. It is privately owned and was established in 2013 by former employees of another brokerage company.

DEGIRO is considered safe as it is regulated by top-tier financial regulators, the Dutch AFM and DNB. It is registered with the Chamber of Commerce and Industry in Amsterdam under number 34342820.

Recommended for price-sensitive buy and hold investors and traders looking for only execution

Pros
  • One of the lowest fees in the market
  • Broad access to international markets
  • Easy to use web and mobile platform
Cons
  • Limited research and education
  • No forex trading
  • No credit/debit card deposit and withdrawal

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Fees 5 stars

DEGIRO has low trading and non-trading fees. In most asset classes, it is the best in the market. There are some ETFs which you can trade free once per month. It's a great offer for buy-and-hold investors.
Pros
  • Low trading fees
  • Low non-trading fees
  • No withdrawal fee
  • At some ETFs, one free trade per month
Cons
  • Yearly service fee for mutual funds
  • Higher trading fees for Asian and smaller European stock exchanges
Robinhood vs. DEGIRO: Trading fees
DEGIRO Robinhood
Apple benchmark fee $1.4 $0.0
Vodafone benchmark fee $5.2 $100.0
EURUSD benchmark fee - -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

Account opening 5 stars

DEGIRO has an easy and fast account opening process. Also, there is no minimum deposit.
Pros
  • Fully digital account opening
  • No minimum deposit
  • User-friendly
Cons
None
Robinhood vs. DEGIRO: Minimum deposit, time to open an account
DEGIRO Robinhood
Minimum deposit $0 $0
Time to open account 1 day 1 day

If you are interested more in DEGIRO minimum deposit, this overview will help you.

More Visit broker

Deposit and withdrawal 3 stars

DEGIRO deposit and withdrawal is free of charge via bank transfer. On the other hand, you cannot deposit with credit or debit card.
Pros
  • Free withdrawal
  • No deposit fee
  • Several account base currencies
Cons
  • Credit/Debit card not available
Robinhood vs. DEGIRO: Withdrawal options
DEGIRO Robinhood
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

More Visit broker

Web trading platform 4 stars

DEGIRO’s web platform is simple and easy to use. Even beginners can easily navigate it and buy stocks. On the negative side, it is a bit complicated to customize.
Pros
  • User-friendly
  • Two-step (safer) login
  • Looks appealing
Cons
  • Limited customizability (for charts, workspace)
  • No price alerts
Web trading platform of DEGIRO, a Robinhood alternative
Robinhood vs. DEGIRO: Trading platform scores
DEGIRO Robinhood
Web platform score 4 stars 5 stars
Mobile platform score 4 stars 5 stars
Desktop platform score - -

Learn more about DEGIRO's web trading platform in the detailed DEGIRO review.

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Markets and products 3 stars

At DEGIRO you can access many markets and trade with a lot of different products, except for forex.
Robinhood vs. DEGIRO: Markets and products
DEGIRO Robinhood
Stock Yes Yes
ETF Yes Yes
Forex No No
Fund Yes No
Bond Yes No
Options Yes Yes
Futures Yes No
CFD Yes No
Crypto Yes Yes

More Visit broker

Verdict

DEGIRO is a good choice if you want a simple platform and don’t want to spend a fortune on fees.

It is far cheaper than its big European competitors and only Interactive Brokers can compete with DEGIRO fees. DEGIRO also has great access to international markets and trading products. And it is als one of the best trading platforms for Europeans.

However, cheapness comes with some shortfalls. Education and research tools are limited, there is no forex trading and limited deposit and withdrawal options.

All in all, it is a great online broker. As there is no minimum deposit and no inactivity fee, feel free to try it out.

DEGIRO
Summary DEGIRO is a Dutch discount broker established in 2008. It is regulated by the Dutch FMA.
Fees score 5 stars
Recommended for Price-sensitive buy and hold investors and traders looking for only execution

More Visit broker

Robinhood alternatives
Chase You Invest

4.5 5 stars

Chase You Invest logo

Chase You Invest is a discount brokerage service released in 2018 by J.P. Morgan. The parent company, J.P. Morgan is a US investment bank and is also listed on the New York Stock Exchange. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Chase You Invest is considered safe because the parent company, J.P. Morgan has a long track record, is listed on stock exchange, has a banking background, and is regulated by top-tier regulators.

Recommended for beginners and buy and hold investors focusing on the us stock market

Pros
  • Low trading fees
  • Fast and fully digital account opening
  • Strong parent company
Cons
  • Available only for US clients
  • Limited product portfolio
  • Basic research tools

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Fees 5 stars

Chase You Invest has low trading fees and low non-trading fees. It offers 100 commission-free trades for US-based stock and ETF trades in the first year after the account opening. You can also trade with mutual funds for free.
Pros
  • Low trading fees
  • Low non-trading fees
  • No withdrawal fee
Cons
None
Robinhood vs. Chase You Invest: Trading fees
Chase You Invest Robinhood
Apple benchmark fee $6.1 $0.0
Vodafone benchmark fee - $100.0
EURUSD benchmark fee - -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker

Account opening 5 stars

Account opening at Chase You Invest is seamless and fully digital. Your account will be opened within a day. On the flip side, the account opening is available only for US clients.
Pros
  • Fast account opening
  • Fully digital account opening
  • No minimum deposit
Cons
  • It is available only for US clients
Robinhood vs. Chase You Invest: Minimum deposit, time to open an account
Chase You Invest Robinhood
Minimum deposit $0 $0
Time to open account 1 day 1 day

If you are interested more in Chase You Invest minimum deposit, this overview will help you.

More Visit broker

Deposit and withdrawal 2 stars

Chase You Invest deposit and withdrawal can be improved. You can use only bank transfer and there is a high fee for wire withdrawals if you are a non-Chase client. As a plus, there is no deposit fee and transferring money is easy and user-friendly.
Pros
  • No deposit fee
  • User-friendly
Cons
  • Credit/Debit card not available
  • Only one account base currency
  • High fee for wire withdrawal for non-Chase clients
Robinhood vs. Chase You Invest: Withdrawal options
Chase You Invest Robinhood
Bank Transfer Yes Yes
Credit/Debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

More Visit broker

Web trading platform 3 stars

Chase You Invest has a mediocre web trading platform. It is very easy-to-use and has a great search function. However, it misses important features, like two-step authentication, clear fee report and price alerts.
Pros
  • User-friendly
  • Good search function
  • Looks appealing
Cons
  • No clear fee report available
  • No two-step (safer) login
  • No price alerts
Web trading platform of Chase You Invest, a Robinhood alternative
Robinhood vs. Chase You Invest: Trading platform scores
Chase You Invest Robinhood
Web platform score 3 stars 5 stars
Mobile platform score 4 stars 5 stars
Desktop platform score - -

Learn more about Chase You Invest's web trading platform in the detailed Chase You Invest review.

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Markets and products 2 stars

Chase You Invest has limited product portfolio. It offers stock, ETF, fund, and bond. It lacks forex, options, futures, or CFD. Furthermore, the offered products cover only the US market.
Robinhood vs. Chase You Invest: Markets and products
Chase You Invest Robinhood
Stock Yes Yes
ETF Yes Yes
Forex No No
Fund Yes No
Bond Yes No
Options No Yes
Futures No No
CFD No No
Crypto No Yes

More Visit broker

Verdict

Chase You Invest fees are great. You can trade with mutual funds for free and new clients have 100 commission-free trades for US-based stock and ETF in the first year. The account opening is easy, fully digital, and fast. J.P. Morgan is Chase You Invest's strong parent company. It has a banking background and listed on the New York Stock Exchange.

Chase You Invest has some drawbacks though. It is available only for US clients. The product portfolio is limited, covering only US markets and the stock, ETF, bond, and fund asset classes. Lastly, the research tools are basic. 

As the account opening is seamless, and Chase You Invest offers commission-free mutual funds and 100 commission-free stock and ETF trades, feel free to try it.

Chase You Invest
Summary Chase You Invest is a brokerage solution offered by J.P. Morgan Securities LLC (a J.P. Morgan affiliate), regulated by US top-tier regulators SEC and FINRA. J.P. Morgan is a NYSE listed company with banking background.
Fees score 5 stars
Recommended for Beginners and buy and hold investors focusing on the US stock market

More Visit broker

Robinhood alternatives
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.

Robinhood alternatives
Broker Info Recommended for
Robinhood US zero-fee discount broker Beginners and buy and hold investors focusing on the US stock market
Saxo Bank Danish investment bank Investors and traders looking for a great trading platform and solid research
DEGIRO Dutch discount broker Price-sensitive buy and hold investors and traders looking for only execution
Chase You Invest US-based discount broker Beginners and buy and hold investors focusing on the US stock market

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

AUTHOR

Dan Sallai
Dan Sallai
CMO
My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.
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