What apps are like Robinhood?

Alternative Apps
1

I’m looking for apps similar to Robinhood for investing and stock trading. Robinhood works well for me, but I want to explore more options to see if there are others with different features or benefits. Can anyone recommend good alternatives for trading or investing?

2

Certainly! Here’s a ranked list of the 10 best apps similar to Robinhood for investing and stock trading, based on personal testing and community feedback:

1. Webull (https://www.webull.com/)

Pros:

  • Commission-free trading for stocks, ETFs, options, and cryptocurrencies.
  • Advanced charting tools and technical indicators suited for both beginners and advanced investors.
  • Paper trading feature for practice without real money.
  • Extended hours trading available.

Cons:

  • No fractional shares (might be a drawback for some).
  • Research tools and data aren’t as beginner-friendly as Robinhood’s.

Features:

  • In-depth analytics and technical charts.
  • Supports options trading.
  • Real-time market data.
  • Offers cryptocurrency trading.

User Reviews:

  • Many users appreciate the advanced charting and analytic tools but mention a bit of a learning curve for beginners.
  • ‘Webull feels more professional but comes with complexity,’ a user commented.

Verdict: If you’re looking to dive deeper into analytics and grow as a technical trader, Webull offers a serious upgrade to Robinhood, especially for mid-level to advanced users.

2. SoFi Invest (https://www.sofi.com/invest/)

Pros:

  • Simple, user-friendly interface like Robinhood.
  • Offers both active and automated (Robo-advising) investing.
  • Fractional shares available.
  • No account minimums, making it great for beginners.

Cons:

  • Limited availability of specific advanced features (e.g., no options trading yet).
  • May not satisfy professional traders seeking robust tools.

Features:

  • Wealth-building tools for long-term investing, including free financial advice.
  • Cryptocurrency investing is supported.
  • SoFi members get exclusive perks (interest discounts on loans, etc.).

User Reviews:

  • Customers favor the community-driven tools and user-friendly app but critique the lack of advanced trading options.

Verdict: A fantastic choice if you value simplicity, diversification, and maybe want to explore automated portfolios alongside active stock trades.

3. Fidelity Investments (https://www.fidelity.com/)

Pros:

  • Zero commissions for stock, ETF, and options trades.
  • Wide range of educational materials and research tools.
  • Offers fractional share investments (‘Stocks by the Slice’).
  • Strong reputation for reliability.

Cons:

  • The app can feel overwhelming for complete beginners.
  • Limited customizability in the interface.

Features:

  • A focus on low-cost index funds and mutual funds.
  • Offers retirement planning tools and financial advice.
  • Advanced order types for trading.

User Reviews:

  • Users rave about Fidelity’s customer service and low fees but mention it’s geared more toward long-term investors over day traders.

Verdict: Perfect for investors focused on building diversified, long-term portfolios with top-notch support and tools.

4. eToro (https://www.etoro.com/)

Pros:

  • Social trading feature allows you to mimic successful traders’ strategies.
  • Variety of markets, including stocks, forex, and cryptocurrencies.
  • Commission-free stock trading.
  • Intuitive for beginners.

Cons:

  • Primarily focuses on CFDs (Contracts for Difference) in most regions, so actual stock ownership may not be available everywhere.
  • Limited tools for advanced charting.

Features:

  • CopyTrading to match experienced investors’ trades.
  • Offers global exposure, not just U.S. markets.
  • Community-based approach to investing.

User Reviews:

  • Social features get high praise from beginners wanting to learn by copying. However, advanced users find the lack of customization hit-or-miss.

Verdict: Best for newbies fascinated by the concept of social trading or those exploring diverse markets globally.

5. Charles Schwab (https://www.schwab.com/)

Pros:

  • Commission-free stocks, ETFs, and options trading.
  • Advanced trading platform with great research tools.
  • Fractional shares enabled.
  • Educational resources for different investor levels.

Cons:

  • Slightly dated user interface compared to Robinhood.
  • High learning curve for using their desktop platform, StreetSmart Edge.

Features:

  • Offers automated investing (Robo) alongside self-directed trading.
  • Excellent customer service and access to live agents.
  • Retirement planning and other portfolios.

User Reviews:

  • Users value its comprehensive offerings but note it can seem daunting if coming from Robinhood’s simplicity.

Verdict: A solid option balancing professional tools with investor education, perfect for people looking to go beyond the basics.

6. M1 Finance (https://www.m1.com/)

Pros:

  • Powerful automated investing (auto rebalancing portfolios).
  • Fractional share investing.
  • No fees for basic accounts.
  • Focuses on long-term wealth building with ‘Pie’ structures instead of day trading.

Cons:

  • Not a good fit for active traders (no options or crypto).
  • Limited to one daily trading window for free accounts.

Features:

  • Create your custom portfolios or choose from expert-designed ones.
  • Borrow margin loans at low fees (M1 Borrow).

User Reviews:

  • Users who enjoy automated investing love this app, but those coming from Robinhood might find it restrictive without the live trading experience.

Verdict: A highly sophisticated tool for passive investors focused on long-term results—not ideal for fast-paced traders.

7. TD Ameritrade (https://www.tdameritrade.com/)

Pros:

  • top-notch Thinkorswim platform for advanced trading.
  • No commissions on stocks and ETFs.
  • Excellent research and data tools, including access to CNBC.
  • Great learning resources for investors of all types.

Cons:

  • Beginners might feel overwhelmed.
  • Desktop app feels dated compared to more modern designs.

Features:

  • 24/5 trading hours for select products.
  • Specialized in advanced technical analysis and charting.
  • Strong integrations for international investments.

User Reviews:

  • Advanced traders love Thinkorswim, but first-timers may feel lost with too many options.

Verdict: One of the best platforms for seasoned investors willing to dive into complex charts and extensive research.

8. Acorns (https://www.acorns.com/)

Pros:

  • Fantastic for beginners who want an ultra-minimal approach.
  • Rounds up spare change from purchases and invests automatically.
  • Focus on automated investing in diversified portfolios.

Cons:

  • More of a saving and investing hybrid than an actual brokerage.
  • Limited options for active, hands-on stock trading.

Features:

  • Micro-saving and investing from your spare change.
  • Includes retirement investing options.

User Reviews:

  • Reviewers call Acorns ‘the training wheels of investing.’ Great for small-scale investors but lacks tools for more serious trading.

Verdict: Ideal for beginners or those who want a set-it-and-forget-it tool for small investments.

9. Stash (https://www.stash.com/)

Pros:

  • Fractional shares available.
  • Beginner-friendly and emphasizes teaching investing basics.
  • Combines banking and investing features.

Cons:

  • Monthly subscription fee (starting at $3/month).
  • Limited trading customization for advanced users.

Features:

  • Personalized stock recommendations.
  • Ability to set up recurring investments.

User Reviews:

  • ‘Good for early learning, but not the cheapest or fastest platform,’ several users mentioned.

Verdict: Great for people still dipping their toes into investing and interested in both learning and building a financial foundation.

10. Public.com (https://www.public.com/)

Pros:

  • Fractional shares (starting at $1).
  • Social aspects with public profiles and community insights.
  • No payment-for-order-flow model (increased transparency).

Cons:

  • Fewer investing features when compared to Webull or TD Ameritrade.
  • Less advanced tools for technical trading.

Features:

  • Community-driven investing discussions.
  • Focus on sustainability and transparent practices.

User Reviews:

  • ‘Public feels like the social media of investing. Casual traders will feel at home, but pros might find the tools lacking.’

Verdict: Best if you’re looking for a socially connected investing experience while maintaining Robinhood’s simplicity.

Feel free to explore these platforms—they all cater to slightly different audiences depending on your needs!