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Robinhood vs. 4 Alternatives

Here's how Robinhood compares to other online brokerages and investment apps.

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Managing Editor

Chris Davis is a Managing Editor on the Investing team. He has passed the Series 65 (Uniform Investment Adviser Law Exam) and covered the stock market, investing strategies, investment accounts and cryptocurrency. His work has appeared in The Associated Press, The Washington Post, MSN, Yahoo Finance, MarketWatch, Newsday and TheStreet.

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Published in

Head of Content, Investing & Taxes

Arielle O’Shea leads the investing and taxes team at NerdWallet. She has covered personal finance and investing for nearly 20 years, and was a senior writer and spokesperson at NerdWallet before becoming an editor. Previously, she was a researcher and reporter for leading personal finance journalist and author Jean Chatzky, a role that included developing financial education programs, interviewing subject matter experts and helping to produce television and radio segments. Arielle has appeared on the "Today" show, NBC News and ABC's "World News Tonight," and has been quoted in national publications including The New York Times, MarketWatch and Bloomberg News. She is based in Charlottesville, Virginia.

For some, Robinhood is synonymous with “investment app.” When the company started offering free trades in 2015, it had an enormous advantage over most major brokerages that were charging customers for every trade. However, Robinhood’s competitors quickly followed suit, and today commission-free trading of stocks and ETFs is standard, not special.

» Curious about other choices? View the best stock apps

When it comes to finding a broker that’s right for you, the key is identifying what your investment goals are and finding a broker that will help you meet them.

Overview of Robinhood

Alternative for beginners: Fidelity

Alternative investment app: Acorns

Alternative for cryptocurrencies: Crypto.com

Alternative that's similar overall: Webull

Robinhood overview

Robinhood has been credited for bringing about an enormous change in the brokerage industry: doing away with trade commissions. The app offers a sleek, easy way to trade stocks, options, exchange-traded funds (ETFs) and cryptocurrency, and has been regularly unveiling new products. Most recently, Robinhood added IRAs with a 1% to 3% match on contributions, launched a new trading platform geared toward active traders and introduced futures.

However, Robinhood has also been the focus of complaints from the Securities and Exchange Commission, lawsuits and public outrage over some of its practices. In June 2021, the company paid nearly $70 million in fines and restitution — the largest financial penalty ever levied by the Financial Industry Regulatory Authority.

on Robinhood's website

Robinhood has a slick platform, low costs, an impressive amount of investable assets, low options trading fees and access to crypto. Robinhood also offers 24/7 chat support and extended hour phone support during the week. If you invest through a Robinhood IRA you can get a 3% match on your contributions with a $50 annual Robinhood Gold membership fee. Investors can still earn a 1% match even without the annual fee. Unfortunately, Robinhood doesn't have the best access to data and research or any access to mutual funds.

Robinhood is best for:

Mobile-first investors.

IRA investors.

Margin traders.

Robinhood at a glance

Account minimum

$0 for brokerage accounts, Robinhood Gold accounts and IRAs.

Stock trading costs

$0.

Options trades

$0 for equity options. $0.50 for index options, or $0.35 for Gold accounts.

Account fees (annual, transfer, closing, inactivity)

No annual or inactivity fees. $100 ACAT outgoing transfer fee. Robinhood Gold costs $5 a month or $50 per year. Matching funds in IRAs may be taken back if money is withdrawn in less than five years. Instant withdrawals cost 1.75% of the amount withdrawn, with a minimum fee of $1 and a maximum of $150.

Interest rate on uninvested cash

0.01% for free accounts, 3.35% for Gold accounts

Tradable securities

Stocks, ETFs, Options, Cryptocurrency, American Depositary Receipts for over 650 global companies, Futures, Fractional shares. Bonds only available in the form of bond ETFs.

Number of no-transaction-fee mutual funds

Not rated; no mutual funds.

Trading platform

Robinhood's mobile and web platforms are known for their smooth sign-up, funding and trading processes. The broker now also offers a desktop platform, Robinhood Legend.

Mobile app

Mobile trading platform includes customizable alerts, news feed, advanced charting and ability to listen live to earnings calls for some companies. Reviews are mostly positive, although the average star rating on both iOS and Android is below the 4.5 star line.

Research and data

Access to professional research from Morningstar and Level II market data from the Nasdaq Stock Exchange (with Gold subscription).

Customer support options (includes how easy it is to find key details on the website)

24/7 chat support. Phone support available from 7:00 a.m. ET to 9:00 p.m. ET, Monday - Friday. Decent suite of educational articles and webinar events, and an easily-navigable website.

IRA match

1% match on IRA contributions for free accounts, 3% for Gold accounts.

Below are five comparisons discussing how Robinhood’s competitors stack up in various categories.

Alternatives to Robinhood

For beginners: Fidelity

Fidelity may be one of the largest brokerages in the country — it manages trillions of dollars in assets — but that doesn't mean it’s too big for beginner investors. The brokerage regularly tops our list of the best brokerages for beginners because it offers a comprehensive brokerage service that grows with you as your investment needs evolve. Like Robinhood, Fidelity offers a small selection of cryptocurrencies.

» Explore your options: See the best brokerages for beginners

on Fidelity's website

Fidelity is exceptional in nearly every way: Low fees, excellent customer service, great educational content, tons of assets to invest in and an easy-to-use platform. Fidelity is a solid option for beginners and seasoned investors alike, and can help you grow your investing skillset as you gain experience. Plus, if you have a 401(k), it's not unlikely that it's offered through Fidelity, meaning you'll be able to see all your investments in one place.

Fidelity is best for:

Frequent traders.

Beginner investors.

Research and data.

Retirement planning assistance.

Fidelity at a glance

Account minimum

$0

Stock trading costs

$0

Options trades

$0.65 per contract

Account fees (annual, transfer, closing, inactivity)

Annual fee: $0 Inactivity fee: $0 Closing fee: $0

Interest rate on uninvested cash

3.97%

Number of no-transaction-fee mutual funds

3,220

Tradable securities

Stocks, mutual funds, ETFs, options, bonds and fixed income, precious metals, crypto

Trading platform

Three: Fidelity.com, mobile app, Fidelity Trader+

Mobile app

Available for iOS and Android

Research and data

Several data providers, including Argus, Zacks, CFRA and S&P Global

Customer support options (includes how easy it is to find key details on the website)

24/7. Hours vary by contact method, but you can get help via phone, email, chat, over social media or at a physical branch.

IRA match

None

^ Back to menu

Among investment apps: Acorns

If you want a sleek platform but don't want to manage your investments yourself, you may want to consider a robo-advisor like Acorns. Acorns is a very different product from Robinhood; it’s mostly geared toward long-term savers. It’s part robo-advisor, part savings account, part full-service brokerage.

One of its signature offerings is its round ups: Use an Acorns debit card (or another linked card) for everyday purchases, and Acorns will “round up” the change and automatically invest it for you.

If you’re looking to invest in individual stocks, though, Robinhood may be the better choice. With Acorns, you can customize your portfolio with some individual stocks, but you'll mostly be invested in preset portfolios, which the app will help you choose based on your risk tolerance. To be sure, these diversified portfolios are a responsible way to invest long-term, but you won’t have the same investing experience and freedom as you have with Robinhood.

on Acorns' website

Acorns offers automated investment management for $3 to $12 per month. Acorns doesn't have all the bells and whistles that come with a standard brokerage, but it does have its signature "roundups" feature, a high interest rate for banking customers and an IRA match at some service tiers. Acorns also allows for some customization within its portfolios meaning you can pick and choose a few individual investments if you want. Because of its pricing structure, Acorns can have high fees on small account balances. The robo-advisor also doesn't offer a tax strategy.

» See the list: Review our picks for the best investment apps

Acorns is best for:

Hands-off investors.

People who struggle to save and would benefit from roundups.

Earning cash-back rewards.

IRA investors.

Acorns at a glance

Reviewed: Oct. 2025

Period considered: Aug. - Oct. 2025

Account minimum

$0 to open account; $5 required to start investing.

Account management fee

Prices are per month: Bronze Tier: $3. Silver Tier: $6. Gold Tier: $12.

IRA match for qualifying contributions at Silver and Gold tiers could wipe out management fees.

Investment expense ratios

0.04% to 0.22%.

Account fees (annual, transfer, closing)

$35 per ETF to have them transferred to another broker when you close your taxable Acorns account; no charge to sell your investments and have the resulting cash transferred.

Portfolio mix

Well-diversified portfolio with exposure to domestic and international stocks, bonds, REITs and a Bitcoin-linked ETF.

Socially responsible portfolio options

Sustainable portfolio built with ESG ETFs available for no extra cost.

Accounts supported

Individual non-retirement accounts.

Roth, traditional and SEP IRAs.

UTMA/UGMA accounts available at the $12-per-month plan.

Tax strategy

Not available.

Human advisor option

Not available.

Bank account/cash management account

Acorns offers impressive high-yield checking and savings accounts. At the time of this review, the checking account earns 2.57% APY and the savings account earns 4.05% APY, with no minimum balance to receive the interest rate. The checking account has no overdraft fees and access to 55,000+ fee-free ATMs.

Customer support options (includes how easy it is to find key details on the website)

Customer support is available 7 days/week from 5:00 a.m. to 7:00 p.m. PT via live chat, phone and email. Live chat and chat bot available 24/7.

^ Back to menu

For crypto: Crypto.com

If you’re using Robinhood to trade cryptocurrencies, it’s important to understand that at this time, the app has very limited functionality and supports a limited number of coins. The app’s primary focus is still easy, free stock trading, not cryptocurrencies.

Crypto.com, on the other hand, has so far proven itself in a difficult environment. The platform offers a huge selection of crypto assets, staking functionality, DeFi web browsing, a discount-enabling stablecoin and low fees.

However, if it’s only price appreciation you’re looking for in crypto — and you’re OK choosing from a limited selection — Robinhood still may be the better choice, given how simple its interface is and that crypto trading is completely free. You'll just miss out on some of the more advanced featured crypto.com offers.

on Crypto.com's website

Crypto.com offers a large selection of cryptocurrencies and trading pairs, relatively low fees and a straightforward staking program. Crypto.com has rewards for 29 coins, with rates up to 14.44%. Unfortunately, some of Crypto.com's services are not offered in the U.S. and the company only offers chat-based help for most issues.

» Ready to get started? See our picks for best crypto platforms and exchanges.

Crypto.com is best for:

Mobile-first users.

Transactions with fiat, or traditional, currency.

DeFi, or decentralized finance, tokens.

Crypto.com at a glance

Trading and transaction fees

No trading fee, but transactions using credit/debit cards cost up to 2.99%.

Minimum trade

0.0000104 BTC, or about $1.

Number of cryptocurrencies

More than 400.

Crypto-to-crypto trading pairs

1,000+.

Website transparency

Crypto.com's website is helpful, but it can be difficult to find information on how to close an account.

Staking and rewards

Rewards for 30 coins, with rates up to 14.95%.

Customer service

Crypto.com offers only chat-based help for most issues and limited phone service.

^ Back to menu

For overall similarity: Webull

Webull is a relative newcomer, but has quickly earned a spot as an alternative to Robinhood because of how similar the two are. Webull is easy to use, sleek on mobile and offers free trades on stocks, options, ETFs and cryptocurrency, much like Robinhood. In fact, it’s hard to find a brokerage that beats either Robinhood or Webull on cost. However, Webull offers tools intermediate and advanced traders may appreciate, but won’t find on Robinhood.

on Webull's website

Webull is a great option for intermediate investors. Webull delivers with an excellent platform, advanced tools and a high interest rate on uninvested cash. Webull also periodically offers an IRA match percentage, typically around 3%. Webull also offers fairly low margin rates. Unfortunately, Webull does not give investors access to mutual funds and its customer service is more limited than that of competitors.

Webull is best for

Intermediate investors.

Active traders.

Options traders.

Webull at a glance

Account minimum

$0.

Stock trading costs

$0.

Options trades

$0 per trade and $0 per contract on equity options. $0.30 to $0.50 per contract on non-equity options such as index options.

Account fees

Annual fee: $0. Inactivity fee: $0. Outgoing transfer fee (partial or full): $75.

Interest rate on uninvested cash

3.6% for Premium users. 3.25% for non-Premium users with assets totaling more than $25,000, and 0.5% below that.

Number of no-transaction-fee mutual funds

None; mutual funds not available.

Tradable securities

Stocks, ETFs, Treasury bonds, Options, ADRs, Crypto, Futures, Prediction markets

Trading platform

Five: Web, desktop, two mobile apps (Webull and Webull Lite), APIs.

Mobile app

Available for iOS and Android.

Research and data

More than a dozen providers, including Benzinga, Nasdaq Total View, S&P, Dow Jones and CBOE.

Customer support options (includes how easy it is to find key details on the website)

Customer support is available by phone from 9:00 a.m. Eastern time to 4:15 p.m. Email and an in-app help center are available 24/7.

IRA match

1% contribution match for free accounts, 3.5% for paid accounts.

Brokerage firms

on Charles Schwab's website

on E*TRADE's website

on Vanguard's website

on Fidelity's website

^ Back to menu

Helpful resources