When Robinhood Financial first started taking happening clients in 2015, committee-free trading was a revolution for traders and investors like. With Robinhood's fantastic success, many other brokerages followed their lead and began to offer committal-free trading to help raze the playing field. For a more careful analysis of this broker, you can check out Benzinga's Robinhood Review.
Founded in 1982, E*TRADE has been at the cutting edge of the online stock brokerage business and continues to offer excellent brokerage services to its customers after Morgan Stanley acquired information technology in 2020. We'll compare the brokerage firms and give you our assessment of each broker's services. If you'd like more in-depth information along E*Trade in, you ass go over Benzinga's E*TRADE Critical review.
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Contents
- Robinhood vs E*TRADE Fees
- What E*TRADE Offers
- What Robinhood Offers
- The Better Platform
- What E*TRADE Offers
- Robinhood vs E*TRADE Mobile App
- What E*TRADE Offers
- What Robinhood Offers
- The Better Political program
- What E*TRADE Offers
- Robinhood vs E*Patronage Customer Documentation
- What E*TRADE Offers
- What Robinhood Offers
- The Improve Platform
- What E*TRADE Offers
- Robinhood vs E*TRADE Ease of Employment
- What E*Swap Offers
- What Robinhood Offers
- The Better Platform
- What E*Swap Offers
- Robinhood vs E*TRADE Accounts and Features
- What E*TRADE Offers
- What Robinhood Offers
- The Better Platform
- What E*TRADE Offers
- Overall Succeeder: E*TRADE
- Frequently Asked Questions
Robinhood vs E*TRADE Fees
Fees are different for each platform. See our breakdown for much info.
What E*TRADE Offers
E*TRADE has none online trade fees for stock or exchange-traded fund (ETF) transactions, although you leave pay a fee of $0.65 per option contract traded. Trading reciprocating funds involves a tip of $19.99, while a charge of $25 per trade applies to broker-assisted trades.
What Robinhood Offers
Robinhood does not charge for stock, ETF or options trades. Robinhood does not offer trading in mutual funds and does not employ brokers to assist you with your trades.
The Better Chopine
Both brokers offer no-commission trading on stocks and ETFs. Robinhood does not charge for option trades, so it might be the bettor choice for very active options traders because E*TRADE charges a minimal bung. E*Deal's fees for mutual funds and broker-aided trading are for services non provided by Robinhood, so E*TRADE would comprise the preferred prize.
Robinhood vs E*Patronage Mobile App
They both throw a mobile app, but which single is better?
What E*TRADE Offers
The E*TRADE mobile app is available for iPhone, Android and Orchard apple tree Watch, and you can expend it to trade stocks, options and mutual funds. You sack also enter simple or more hard option orders on the app, which include spreads and multi-straight-legged option orders. You rump also craft the later on-hours market and enter to a greater extent sophisticated conditional orders such arsenic One Cancels the Other (OCO) and One Triggers the Early (Otoe).
What Robinhood Offers
Robinhood offers mobile apps for the iPhone, Android and Apple Watch that allow you to trade stocks and options. You can also access trading directly through its website if you'atomic number 75 already a customer. Like the E*TRADE app, you can enter simple and complex option orders, but you do not have access to trade mutual funds or enter conditional orders.
The Better Platform
While both brokers have similar features collective into their flying apps, E*TRADE prevails in this category since information technology lets you embark conditional orders and swop mutual funds, some of which are not possible using the Robinhood mobile app.
Robinhood vs E*TRADE Customer Support
Customer support for a brokerage political platform can make or break the reliability.
What E*TRADE Offers
E*TRADE's customer religious service can be reached through vital chat, electronic mail operating theater phone at 800-387-2331 (800-ETRADE-1). Its 30 offices are currently closed referable the COVID-19 pandemic, although they are anticipated to reopen when the pandemic subsides in their local anesthetic areas. You can still birdsong and verbalize to a local branch representative.
What Robinhood Offers
Robinhood's customer service offerings are weak at the best. They offer no live visit or a phone number where you can hand down a customer servicing representative. A number to its office in Menlo Park, California, answered with a message referring the caller to its website or app for subscribe.
On its website, you can breakthrough a phase to electronic mail after describing the nature of your problem with pull off-down menus and a subject matter. If you can't find what you're looking, you behind navigate to another Page where you can look ended the broker's various FAQ pages. The headphone number and the messaging web page were only found later on or s external online inquiry and were not immediately apparent connected Robinhood's web site.
The broker's customer service department looks almost extinct at first glimpse and at most 3rd-rate once you dig a little, and then if you're looking for a broker with excellent customer service, you should probably wait elsewhere.
The Better Chopine
E*TRADE wins in this category, hands down. E*TRADE has a much better customer service section than Robinhood simply because you can liaison a real person quickly if you experience an issue, which can salvage you a lot of money when markets are wriggling quickly. In contrast, Robinhood merely offers FAQ pages and a entanglement form to e-mail them with, but no survive claver or phone number.
Robinhood vs E*Sell Ease of Use
Which platform is better suited for beginners, immediate investors and the pros?
What E*TRADE Offers
With almost 40 years in the business, E*Switch has developed 2 highly intuitive and easy-to-voyage trading platforms: E*TRADE and Power E*Deal. With obedience to the mobile apps, some the E*TRADE and Power E*TRADE mobile apps buttocks be customized and offer the Saami asset classes to deal out as the desktop weapons platform, except for single name bonds.
The 2 platforms can be in full customized to fit your particular needs, and you can enter multiple orders in batches simultaneously. You can besides enter orders now from the E*Barter platforms' tired graph and visually preserve track of your order as you await its execution. In addition, the broker's platform includes research and educational options not available through Robinhood.
What Robinhood Offers
Robinhood has solely 1 platform that you toilet download to a airborne device OR access via its website. Notwithstandin, the application is very easy to use and voyage because of the overall simplicity of the app's design.
While Robinhood's app and website can be easily navigated and used to enter orders and confirm executions, you have no options for customization Beaver State to personalize your settings. Too, you cannot recruit order batches or trade directly from stock charts, and you are limited to certain basic ordering types that don't let in conditional orders at this broker.
The Bettor Platform
E*Barter prevails again in this class, despite the Robinhood app perhaps being a spot easier to use for brand new stock traders. E*TRADE offers 2 platforms and apps versus Robinhood's single web platform and app. Also, the deficiency of customization features and research resources at Robinhood make the E*TRADE platforms dominant for some new and seasoned Malcolm stock operators.
Robinhood vs E*Deal Accounts and Features
E*TRADE and Robinhood offer many a of the same assets, accounts and features, merely at that place is united platform that stands out.
What E*TRADE Offers
E*TRADE is a major, mature online broker that offers trading in stocks, ETFs, options, mutual pecuniary resource, futures, certificates of deposit (CDs) and bonds. By offer futures trading, E*TRADE allows clients to deal out Bitcoin, extrinsic exchange (forex) and commodities futures, although you can't trade spot forex, metals and cryptocurrencies.
E*Patronage offers a encompassing range of accounting types to fit complete of your financial needs, from a simple brokerage account to several antithetic types of IRA and retirement accounts. You give the sack also open nest egg and checking money box accounts, custodial accounts, 4 types of managed portfolio accounts and retreat accounts for small businesses.
What Robinhood Offers
Compared to E*TRADE, Robinhood is the new youngster on the block, and its offerings seem fairly limited. Umpteen important asset classes like bonds and common funds cannot be traded through Robinhood. As wel omitted from Robinhood's offering are centime stocks from the Unlisted bulletin board (OTCBB).
On a positive notation, Robinhood gives its clients access to trade a wider range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Dogecoin (DOGE), Bitcoin Cash (BCH), Bitcoin SV (BSV) and Litecoin (LTC). Additionally, Robinhood also lets you memory access information along 10 other cryptocurrencies.
Although you can business deal these coins through a Robinhood account, you cannot transfer your coins to your digital wallet or consumption your coin deposits for trading other assets. With respect to account types, Robinhood offers just 3 unlike accounts:
- The basic Robinhood Cash account: Lets you make commission-free and extended hours trades, but does not give you admittance to clamant deposits or clamant settlements. This means you'll experience to wait for your money to clearly before you can trade or back away any proceeds from your account.
- The Robinhood Instant account: This is the default account typewrite when you open an account, and information technology gives you access to fast deposits and extended-hours trading. In gain, you won't have to time lag for your funds to Be processed when you depository or betray stocks.
- The Robinhood Gold account: This story type is similar to the Instant calculate and can be gaping with a $2,000 initial deposit. It lets you approach more purchasing power and make larger flash deposits of at least $5,000 and up to $50,000, depending on your portfolio size up. The Robinhood Gold account costs $5 per month.
The Meliorate Platform
E*TRADE prevails formerly Thomas More, offering a larger natural selection of account types to better suit its customers and the ability to deal out a wide range of assets. With the exception of Robinhood's broader cryptocurrency memory access, E*TRADE's offerings give investors and traders more choices, with more accounting types and a wider selection of tradable assets.
Overall Winner: E*TRADE
If you only design to trade cryptocurrencies or are clean starting out every bit a stock operator, you might prefer the simmpleness and ease of using the Robinhood app. Even so, E*TRADE would broadly speaking atomic number 4 the improved and more prudent broker quality, especially if you plan happening investing for your retirement, trading futures or bonds, doing more sophisticated commercialize analysis, or conducting fundamental research on the assets you plan to invest in.
Frequently Asked Questions
Does Robinhood offer agent-motor-assisted trades?
1
Does Robinhood offer broker-assisted trades?
asked
St. Luke Jacobi
1
Robinhood does not offer any broker-power-assisted transactions.
Answer Contact
answered
Benzinga
Does E*TRADE offer commission-resign trades on options and interactional pecuniary resource?
1
Does E*Swop offer commission-free trades on options and mutual funds?
asked
Luke Jacobi
1
E*Trade in charges $0.65 per options reduce and $19.95 for mutual funds.
Answer Link
answered
Benzinga
0 Commissions and no deposit minimums. Everyone gets smart tools for smart investing. Webull supports full extended hours trading, which includes booming pre-market (4:00 AM - 9:30 AM ET) and after hours (4:00 PM - 8:00 PM ET) sessions. Webull Fiscal LLC is enrolled with and orderly by the Securities and Substitution Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). It is besides a member of the SIPC, which protects (up to $500,000, which includes a $250,000 limit for cash) against the loss of cash and securities held past a customer at a financially-troubled SIPC-member brokerage firm.
Robinhood vs E*TRADE • Which is Better for You? • Benzinga
Source: https://www.benzinga.com/money/robinhood-vs-etrade/
