Alpaca Trading vs Robinhood compared

Online brokers compared for fees, trading platforms, safety and more. See how Alpaca Trading stacks up against Robinhood!

Alpaca Trading
Robinhood
Alpaca Trading
4.6
Robinhood
4.3

Last update of dataMar 2022

Alpaca Trading

Alpaca Securities LLC is US-based broker providing commission-free API stock trading. The company is regulated by the top-tier SEC and FINRA:

Recommended for traders interested in algorithmic stock trading.

Robinhood

Robinhood is a US-based zero-commission broker. It is overseen by FINRA, a top-tier regulator.

Recommended for beginners and buy-and-hold investors focusing on the US stock market.

Alpaca Trading's service is on par with Robinhood's and a comparison of their fees shows that Alpaca Trading's fees are similar to Robinhood's.

Account opening takes about the same effort at Alpaca Trading compared to Robinhood, deposit and withdrawal processes are somewhat more complicated at Alpaca Trading, while customer service quality is somewhat better than Robinhood's.

Our experts rated the trading platform of Alpaca Trading as somewhat worse than the platform of Robinhood, found that clients have access to about the same number of markets and products with Alpaca Trading, while Robinhood provides less useful research and education.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

Basic data of broker

Overall Score
4.6

Recommended for Traders interested in algorithmic stock trading

Overall Score
4.3

Recommended for Beginners and buy-and-hold investors focusing on the US stock market

Country of origin

USA

Country of origin

USA

Fees

Fees score
4.9
Fees score
4.9
Fees summary

Free stock and ETF trading, low non-trading fees

Fees summary

Low trading and non-trading fees, free US stock and ETF trading

Stock and ETF fees

Forex fees

Fund fees

Bond fees

Options fees

Futures fees

CFD fees

Non-trading fees

Deposit and withdrawal

Deposit and withdrawal score
1.8
Deposit and withdrawal score
2.3
Number of base currencies

1

Number of base currencies

1

Deposit type

Withdrawal type

Account opening

Account opening score
4.8
Account opening score
5.0
Account opening fully online
Account opening fully online
Minimum deposit
*

$0

*
Minimum deposit
*

$0

*
Time to open account

1 day

Time to open account

1 day

Required documents

Social security number, other proof of residence

Required documents

Proof of identity: SSN and ID / passport / driver's license

Trading platform

Web platform score
3.7
Web platform score
4.5
Mobile platform score
4.2
Mobile platform score
5.0
Desktop platform score
-
Desktop platform score
-

Markets and products

Markets and products score
2.5
Markets and products score
2.7
Stocks
*
*
Stocks
*
*
Fractional shares
*
*
Fractional shares
*
*
ETFs
*
*
ETFs
*
*
Forex
Forex
Funds
Funds
Bonds
Bonds
Options
Options
*
*
Futures
Futures
Crypto
Crypto
*
*
CFDs
CFDs

Research, education

Research score
5.0
Research score
3.1
Charting quality

Great

Charting quality

Poor

Education score
5.0
Education score
1.5
Demo account
Demo account

Customer service

Customer service score
2.4
Customer service score
1.5
Phone
Phone
Live chat
Live chat
Email
Email
24/7 availability
24/7 availability

Security

Investor protection amount

$500,000 (securities up to $500,000, cash up to $250,000)

Investor protection amount

$500,000 (securities up to $500,000, cash up to $250,000)

Banking background
Banking background
Listed on stock exchange
Listed on stock exchange
Foundation date

2015

Foundation date

2013

Country of regulation

USA

Country of regulation

USA

Alpaca Trading

For detailed information and hands-on experience, read our review of this broker.

Robinhood

For detailed information and hands-on experience, read our review of this broker.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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