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3+ best Robinhood alternatives & competitors in 2024

Research the best alternatives to Robinhood, compiled using a range of criteria, including cost, security, and user reviews.
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Updated: Jun 12, 2023
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Robinhood Markets was formed in 2013 to ‘democratise’ investing through its commission-free trading platform. Robinhood now has more than 10 million active monthly users but its democratising principles have run into trouble. It is notorious as a broker that has been willing to restrict trading on certain assets, such as GameStop, with no warning.

Compare the cost of trading and available range of crypto markets to learn if you can trust Robinhood, or whether its better to find the best Robinhood alternative.

Quick take: best alternatives to Robinhood 2024

  1. TastyTrade: Best for options trading like a pro
  2. Plus500: Best for international CFD trading*
  3. TradeStation: Best for fast & reliable trading with institutional-grade tools
  4. eToro: Best for beginners, copy-trading & demo-account
  5. Public: Best for sharing beginner trading ideas

Top 10 Robinhood alternatives & similar sites

1. TastyTrade: Best for options trading like a pro

TastyTrade logo

...

Fees

...

Minimum deposit

20

No. assets

No

Demo/virtual account

Overview

We love TastyTrade because it’s an options trading platform built by market experts. TastyTrade is the latest piece of trading software built by the industry veterans who created thinkorswim, another hugely successful broker that made professional trading accessible to the everyday trader.

While TastyTrade offers stock and ETF trading, its core functionality lies in options and futures contracts. Notably, they recently added the ability to trade spot Bitcoin ETFs, catering to the growing interest in cryptocurrency. However, keep in mind their focus is on US markets; you won’t find international stocks or mutual funds here.

What truly sets TastyTrade apart are a competitive pricing structure and its dedication to options education. They heavily invest in educational content through their platform, tastylive, offering free webinars, tutorials, and resources specifically geared towards options trading. This focus is crucial as options involve a steeper learning curve compared to stock investing.

The fees: There are zero commissions on straight up stock & ETF trades. Stock options are charged a $1 fee to open and zero commission to close a position. Futures start from $0.25 per side. Crypto trades cost 1% of the total position on open and close.

Highlights

Visit TastyTrade TastyTrade Review

2. Plus500. Best for international CFD trading*

From 0.08%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Free demo account for every user Secure broker, licensed by top-tier regulators Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to CFDs on over 2000 stocks.

Plus500 has something for all types of stock trader, no matter what level of experience. Its zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting.

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% and varies depending on the instrument. Additional fees include overnight funding depending on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3. TradeStation: Best for fast & reliable trading with institutional-grade tools

TradeStation_Logo

...

Fees

...

Minimum deposit

20

No. assets

No

Demo/virtual account

Overview

We love TradeStation because TradeStation it offers rapid trade execution in a simple, convenient package that’s packed with trading tools. TradeStation is a well-established online broker known for its powerful desktop platform and extensive toolkit for active investors.

Once catering primarily to professionals, TradeStation has expanded to accommodate individual investors seeking a feature-rich trading experience. It now offers a wide range of assets, including stocks, ETFs, bonds, options, and futures contracts. This variety allows users to implement diverse trading strategies. They also recently introduced commission-free trading for stocks and ETFs under a specific share threshold, making it attractive for active day traders.

The true strength of TradeStation lies in its desktop platform. It’s highly customizable, enabling users to design personalized layouts, technical indicators, and even code their own trading strategies. Another huge benefit is the fact that TradeStation offers paper trading, allowing you to test and refine your strategies before risking real capital.

The fees: Stocks & ETFs are commission free. Stock options come with a $0.60 fee per contract, while futures contracts start from $0.50 per contract, per side. Investing in bonds and mutual funds is significantly more expensive.

Highlights

Visit TradeStation TradeStation Review

4. eToro. Best for beginners, copy-trading & demo-account

0% commission

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because you can trade more than 3,000 stocks, commission free. When you buy stocks on eToro, you’re buying the underlying asset, which means you can earn dividends. Or you can trade fractional shares, which means you can invest in even the most expensive stock from just $10.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the stock market every day, browse the latest analyst opinion about every one of those stocks, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: Stock and ETF trades are commission free. Stock CFDs are charged a 0.15% spread and overnight fees can apply. You can deposit money for free but you have to pay $5 per withdrawal, and there’s a minimum withdrawal of $30. A $10 per month activity fee is charged if you don’t log in for a year.

Highlights

Visit eToro eToro Review

eToro offers real assets only, no CFD products. eToro securities trading offered by eToro USA Securities, Inc. (‘the BD”), member of FINRA and SIPC. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the BD.

5. Public. Best for sharing beginner trading ideas

public.com logo

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Commission free stock and ETF investing Share and compare your portfolio on a social trading platform Trade crypto, fractional shares, and alternative investments
You can't trade on margin or use leverage No forex, options, funds, metals, or bonds

Overview

We love Public because it’s a social platform where you can share trading tips and get ideas from other people. Public offers 9,000+ financial instruments, including cryptocurrencies and stocks from around the world.

Alongside a community of other investors all sharing their ideas, Public offers real time news and information so that you can see the full picture before you invest. And the assets don’t just include your run-of-the-mill assets; you can make alternative investments in things like handbags and comic books as well.

The fees: There are no fees for investing in stocks during regular trading hours in the US – 9.30am-4pm EST. There is a $2.99 fee for trades outside of regular hours.

Highlights

Visit Review
Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Crypto trading on Public platforms is served by Public Crypto LLC and offered through APEX Crypto. Please ensure that you fully understand the risks involved before trading.

Compare similar apps to Robinhood

We have assigned each Robinhood alternative a rating to give you an idea of the overall service each trading platform provides. The score, alongside a snapshot of some important features, allow us to quickly summarise Robinhood’s top competitors.

RobinhoodeToroPublicSkilling
Minimum depositNo minimum£10No minimum€50
Trading feesNo (except on orders of >50 shares)YesYesYes
Tradable assets5,000+3,000+9,000+800+
Supported assetsCrypto, stocks,
ETFs
Crypto, stocks
forex, indices,
ETFs, NFTs
Crypto, stocks,
ETFs
Stocks, forex,
commodities, indices
Demo accountNoYesNoYes
Invezz rating3.74.64.44.2
Visit site Visit site > Visit site > Visit site >

How the best Robinhood alternative was found

We found alternative cryptocurrency exchanges to Robinhood by reviewing what most closely matched Robinhood in terms of the business model, licensing & operations, cost of trading, target audience, and crypto markets available.

We ranked each alternative on these factors while taking into account all available user-reviews across services like Trustpilot, Reviews.io, and Sitejabber, to find the services that offered similar apps to Robinhood.

Here are some more of the features we used to identify the best Robinhood alternatives.

  • Best low fee Robinhood alternatives. The main cost of using a broker comes from trading fees or commissions but there may be other fees as well. We considered the overall cost of using a different broker, including inactivity fees, spreads, and conversion fees.
  • Best Robinhood alternatives for beginners. Beginner-friendly Robinhood alternatives provide an intuitive app and trading experience that helps you make your first steps in trading. The most important feature it must offer is a free demo account, while features like copy or social trading can be useful as well.
  • Best Robinhood competitors with similar products. We picked out trading platforms where the markets and number of assets available most closely resembled Robinhood. Good Robinhood alternatives offer a large, varied range of products.
  • Most secure Robinhood alternative. All the Robinhood competitors we recommend are regulated by top tier financial regulators to protect you and your money. We also look for similar apps to Robinhood that are transparent about their finances and how they store customer funds.
  • Best Robinhood competitors with highest user reviews & customer ratings. Real life experience of using a platform is important. We identified the most popular platforms by comparing those with the best average ratings and most positive user reviews.

Best low fee alternatives to Robinhood

You don’t want to switch trading platforms only to pay more for the service. Here’s how Robinhood alternatives compare in terms of how they make their money:

RobinhoodeToroPublicSkilling
Trading feesYes, on orders of >50 sharesYesYesYes
Inactivity feesNoYesYesYes
Rollover/overnight feesNoYes, on CFDsNoYes
Withdrawal feesYesYesYesYes
SpreadsYesYes, on certain assetsYesYes
Conversion feesNoYes, for non-USD currenciesNoNo

Best Robinhood alternative for beginners

Robinhood is targeted towards beginners, so any competitor should provide a helpful experience to new users as well. Here is a comparison of beginner-friendly features available from Robinhood’s competitors:

RobinhoodeToroPublicSkilling
Free demo accountNoYesNoYes
Video tutorialsNoYesNoNo
Copy tradingNoYesNoNo
Trading academyYesYesYesYes

Robinhood competitors with similar products

A Robinhood alternative should allow you to invest into a similar range of assets and markets. That way, you can invest in the same products even if you switch brokers. Here’s how the competitors compare to Robinhood:

RobinhoodeToroPublicSkilling
Currencies4980
Stocks5,000+31179,000+700+
ETFs5,000+3179,000+700+
Indices2017
Commodities266
Cryptocurrencies18732910

Most secure Robinhood alternative

Regulation is important because it offers you financial protection in the event that something happens to the broker, like a bankruptcy. Here are how the top alternatives fare against Robinhood in terms of regulatory protection.

RobinhoodeToroPublicSkilling
Africa regulationFSAS
Asia regulation
Australasia regulationASIC
European regulationFCA, CySEC, DNB, AMF, OAM, MFSACySEC
North American regulationFINRA, SECFinCEN, FINRAFINRA, SEC
South American regulation

Best Robinhood competitors with highest user reviews & customer ratings

We gathered data from independent review platforms to show what the experience of using a Robinhood alternative was like for other people. 

This information can be a useful tool to help you decide which trading platform to use, but remember that there are many reasons why someone might have a good or bad experience with a service – and not all of them are the platform’s fault.

RobinhoodeToroPublicSkilling
Trustpilot1.34.44.6
Reviews.io2.03.0
Sitejabber1.12.075
Choose a Robinhood alternative

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Sources & references
Risk disclaimer
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.