Robinhood vs. E*TRADE: 2024 Comparison
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
It’s hard to compare E*TRADE and Robinhood: Both brokers allow investors to trade stocks and ETFs for free. But there's more to differentiate them: Generally speaking, E*TRADE will appeal to investors who want access to a wider range of investments — including index and mutual funds — as well as a high-powered trading platform, deep educational content and 24/7 customer support. Robinhood typically targets investors who prioritize low costs above all else and want an easy-to-use mobile platform.
Here's a look at how E*TRADE and Robinhood stack up against each other:
E*TRADE is best for:
Frequent traders.
Research and data.
Retirement planning assistance and educational resources.
E*TRADE at a glance
Account minimum | $0 |
Stock trading costs | $0 |
Options trades | $0.65 per contract (volume discount available) |
Account fees (annual, transfer, closing, inactivity) | Annual fee: $0 Inactivity fee: $0 Outgoing transfer fee (partial or full): $75 |
Interest rate on uninvested cash | 0.01% to 0.15% |
Number of no-transaction-fee mutual funds | Over 6,000 |
Tradable securities | Stocks, mutual funds, ETFs, options, bonds, futures |
Trading platform | Two: E*TRADE and Power E*TRADE |
Mobile app | Available for iOS and Android |
Research and data | Nine research providers, including Moodys, Refinitiv, Morningstar, MarketEdge and Smart Consensus |
Customer support options (includes how easy it is to find key details on the website) | 24/7 phone support; live chat Monday through Friday, 8:00 a.m. to 8:00 p.m. Eastern. |
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. |
Account fees (annual, transfer, closing, inactivity) | No annual or inactivity fees. $100 ACAT outgoing transfer fee. Robinhood Gold costs $5 a month. Matching funds in IRAs may be taken back if money is withdrawn in less than five years. Instant withdrawals cost a minimum of $2 and a maximum of 1.75% of the amount withdrawn. |
Interest rate on uninvested cash | 0.01% for free accounts, 4.5% for Gold accounts. |
Tradable securities | Stocks, ETFs, Options, Cryptocurrency, American Depositary Receipts for over 650 global companies, Fractional shares. Bonds only available in the form of bond ETFs. |
Number of no-transaction-fee mutual funds | Not available. |
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. |
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. |
» Compare more options: View our picks for the best stock apps
How do we review brokers?
NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgments on which ones will best meet your needs. Our highest priority is maintaining editorial integrity.
We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating brokers and our process, read our full methodology.
On a similar note...
