10 Best Alternatives to Robinhood | All You Need to Know

When looking for a cryptocurrency trading account that pays well, Robinhood comes to heart, but many alternatives to Robinhood pay even much better than Robinhood. We’ve compiled a list of some of our favorite Robinhood alternatives that currently accept new users.

10 Best Alternatives to Robinhood

#1 E*TRADE

E*TRADE is a one-of-a-kind and powerful discount broker, the greatest Robinhood alternative.

Advanced traders, busy day traders, derivatives traders, and those saving for retirement benefit the most from this platform.

#2. Webull

Webull is a self-directed investment and trading platform for intermediate and expert investors and traders. Compared to other online brokers, short-term and active traders can save a lot of money on commissions.

Although the Webull platform’s intuitive features and design may appear advanced to novice traders, the platform can still be learned.

For U.S.-listed equities, Webull offers a series of trading classes as well as a trading simulator or demo trading account with real-time data and extensive charting tools. Beginner traders who wish to learn more about the market and establish a trading strategy can benefit from these features.

The Webull trading platform is available as a mobile web-based and desktop program, and it includes features that are beneficial to both expert and intermediate traders. The platform’s features provide you with information and insights to help you make more profitable transactions.

SEE ALSO: Webull vs Robinhood Reviews 2023: Pros & Cons|Legit or Scam |How it Works

#3. TradeStation

TradeStation combines a technically advanced yet user-friendly trading platform with commission-free stock and options trading. TradeStation outnumbers Robinhood in terms of investment options.

Users of TradeStation can trade futures, mutual funds, bonds, and even cryptocurrencies in addition to stocks and options.

TS GO and TS Select are two TradeStation products. As a mobile-only platform, we think TS GO is one of the best. Furthermore, TradeStation provides a wealth of instructional materials to help users become better and more knowledgeable investors.

#4. SoFi Active Investing

SoFi Active Investing was created with the needs of young investors in mind. The platform offers free stock and ETF trading, the opportunity to buy and sell cryptocurrencies like Bitcoin and Ethereum, and fractional shares of major corporations like Amazon and Netflix.

Young investors can use the organization’s member perks, including free educational seminars and discussions with financial experts. And because SoFi has no required account, you can get started immediately.

#5. TD Ameritrade

TD Ameritrade is a wonderful alternative to Robinhood and one of the top overall online brokerages. It quickly became a powerful platform with considerably more trading possibilities than Robinhood after being commission-free in 2019.

On both mobile and desktop, TD Ameritrade boasts one of the most user-friendly platforms. With its set of tools, they make studying companies and investment opportunities simple. With the numerous tools accessible, you may become a better investor.

#6. Moomoo

Moomoo was created as a clever trading platform, and you’ll appreciate the minimal fees. This mobile trading platform combined all of its advanced features into a single app. For both novice and expert traders, it is free and simple to use.

Various research tools are available to assist you in making informed investing decisions. If you want to imitate the investment experience before going all in, there’s a paper trading feature with real-time data.

You can invest whenever it is convenient for you with Moomoo. With your customized set-ups synchronized across many devices, you can start trading on the move or at home. To open an account, there is no minimum deposit.

SEE ALSO: How to Make Money in Forex Without Trading | 2023

#7. M1 Finance

M1 Finance is a free automated investing service that combines a standard investment management service with a robo-advisor into a hybrid platform. 

Unlike other robo-advisors (which take your money and automatically decide where it should be spent), M1 Finance uses a unique “pie” approach to allow you discretion over where you want to spend.

When you sign up, you’ll be asked to complete an interview about your savings goals and financial condition. After that, you’ll be given a suggested “pie,” which M1 Finance refers to as its asset division and represents with a pie graph. 

Each pie can include up to 100 different investment “slices,” making it simple to construct a broad portfolio without conducting much research. Stocks that trade on the New York Stock Exchange or the NASDAQ can then be added to your pie.

M1 Finance places a high value on persistent and regular investing, so you’ll be urged to set up automatic contributions; M1 will handle distribution and rebalancing once your deposit has been processed.

M1 isn’t for day traders, and you won’t be able to buy and sell stocks as quickly as you can with Robinhood, but it does offer a clean, straightforward method to get started with long-term investment. M1 Finance provides a simple solution to long-term saving with IRA options and no fees or commissions.

#8. The General Public

Public is a social network that allows you to own fractional shares of stocks and exchange-traded funds (ETFs), follow others, and communicate ideas with other investors. When you’re just starting trading, the public makes the stock market relevant and inclusive, making it easier to collaborate as you gain confidence.

READ ALSO: What Is a Prime Brokerage? How Does it Work?

#9. Interactive Brokers

If you’re a frequent trader who likes Robinhood’s cost-cutting approach but needs more research tools and capabilities, Interactive Brokers will likely be a good fit.
Interactive Brokers has some of the most competitive trading costs in the industry.

When purchasing and selling, most consumers may anticipate paying $0.005 per share, which is much less than most other brokerage firms.

The Trader Workstation from Interactive Brokers is a sophisticated trading tool with easy-to-read and analyze candlestick charts. Interactive Brokers also has an equally outstanding mobile app that is designed to match the desktop Workstation’s features.

Stocks, bonds, options, mutual funds, futures contracts, and other asset types are accessible.

Interactive Brokers, unlike Robinhood, has been designed with the frequent, professional trader in mind.

With fees for inactivity and a per-share fee, Interactive Brokers isn’t the brokerage platform for traders who want to dabble in investing. If you’ve been day trading on Robinhood and want to step up your game with greater research and analysis tools, Interactive Brokers may be the way to go.

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#10. Tradier

For Tradier Brokerage accounts, Tradier provides financial platforms with trading, account management, and market data. Tradier Brokerage also works with platforms to identify consumer offers that offer current and future clients a compelling value proposition.

A wide range of equities and options platforms and traders can benefit from this approach.
Tradier also gives you access to various integrated trading platforms created by enthusiastic third parties. You can choose the one that best suits your needs or change or build additional features and platforms.

Streaming APIs are available at your fingertips, allowing you to create basic and sophisticated equity and option orders using a simple interface. Tradier collaborates with well-known tool and platform providers to provide investors with a wide range of possibilities.

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