tastytrade vs Robinhood

Written by
Fact checked by
Gyula L.
Updated
Apr 2023

 

Our comparison of tastytrade and Robinhood across several objective criteria shows that tastytrade comes out on top with an overall score of 4.6 vs 4.3 for Robinhood.

Why is that? A number of services are very similar at the two brokers. Nevertheless, Robinhood lags behind tastytrade in terms of customer service, research tools, and education features, while it’s not that much better at deposit and withdrawal options.

 

tastytrade vs Robinhood
  tastytrade Robinhood
Overall score 4.6 4.3
Overall pros
  • Low trading fees

  • Great educational materials

  • Good research tools

  • Free US stock and ETF trading

  • Great mobile and web trading platforms

  • Fast and fully digital account opening

Overall cons
  • Limited product selection

  • Few deposit and withdrawal options

  • No demo account

  • Limited product range

  • Weak customer support

  • Few educational materials

Fees score

4.3 stars

  • No inactivity fee

  • Free stock trading

  •  Low options fees

  • High margin rates for stock trading

  • Withdrawal fee for bank (wire) transfers

5.0 stars

  • Commission-free US stock and ETF trading

  • No fee for deposit or withdrawal

  • Transparent fee structure

Account opening score

5.0 stars

  • Fast

  • Fully digital

  • No minimum deposit

5.0 stars

  • Fast

  • Fully digital

  • No minimum deposit

  • Available only for US clients

  • No IRA accounts offered

Deposit and withdrawal score

1.9 stars

  • No deposit fee

  • User-friendly

  • Free ACH withdrawals in the US

  • Credit/Debit card not available

  • High fee for wire withdrawals

2.3 stars

  • Free withdrawal

  • No deposit fee

  • Cash management service

  • Credit/Debit card not available

  • Depositing larger amounts on Robinhood Gold takes longer

  • Wire withdrawal is pricey

Web platform score

3.4 stars

  • Clear fee report

  • Price alerts

  • Two-step (safer) authentication for certain functions

  • Limited customizability (for charts, workspace)

  • Not suited for beginners

4.5 stars

  • User-friendly

  • Clear fee report

  • Two-step (safer) login

  • Limited customizability (for charts, workspace)

Mobile platform score

4.2 stars

  • User-friendly

  • Touch/Face ID login

  • Order confirmation

  • No price alerts

5.0 stars

  • User-friendly

  • Two-step (safer) login

  • Good search function

Safety
  • Majority of clients belong to a top-tier financial authority

  • High level of investor protection

  • Financial information is publicly available

  • Does not hold a banking license

  • Not listed on stock exchange

  • Majority of clients belong to a top-tier financial authority

  • High level of investor protection

  • Financial information is publicly available

  • No negative balance protection

  • Does not hold a banking license

  • Not listed on stock exchange

Visit tastytrade

-> Back to tastytrade review for 2022

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Author of this article

Dan Sallai

Brokerage Bard | Investment • Brokerage • Digital Business

I'm dedicated to ensuring our valuable content reaches people when they need it most. I leverage my extensive 10+ years of online marketing expertise in tandem with our team's financial acumen to achieve this goal daily. During my leisure time, I find enjoyment in bowling, playing tennis, and cherishing moments with my children.

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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