Our Verdict
To choose between E*TRADE and Robinhood, it’s essential to consider your investing experience and goals. E*TRADE is the superior choice for experienced traders and long-term investors. Its comprehensive platform, advanced tools, and wide range of investment options, including mutual funds and bonds, set it apart. You’ll benefit from robust research offerings, educational resources, and various account types such as retirement accounts and managed portfolios.
Robinhood, on the other hand, excels in simplicity and accessibility, making it ideal for beginners and those focused on basic stock and cryptocurrency trading. Its user-friendly mobile app and commission-free trading for stocks, ETFs, options, and cryptocurrencies make it easy for newcomers to get started. However, it lacks the advanced features and extensive research tools that E*TRADE provides.
Ultimately, for a full-featured platform with comprehensive research and a wide array of investment options, ETRADE is the clear winner.
Why Choose E*TRADE

With ETRADE, you gain access to robust research offerings, educational resources, and advanced trading platforms. You’ll also benefit from a broader selection of investment products, including mutual funds and bonds, which Robinhood doesn’t offer. Additionally, ETRADE provides various account types, such as retirement accounts and managed portfolios, catering to diverse investment needs.
Who E*TRADE Is Best For
E*TRADE will take care of the business for you if you:
- Utilize ETRADE’s Power ETRADE platform for advanced charting, risk management tools, and streaming real-time data, perfecting your active trading strategies.
- Harness E*TRADE’s powerful options analysis tools and competitive pricing, catering to both casual and sophisticated options trading needs.
- Access a broad spectrum of retirement accounts, mutual funds, and ETFs with E*TRADE, supported by robust research and educational resources for strategic long-term investing.
- Take advantage of E*TRADE’s highly rated mobile apps, delivering a full suite of trading and research capabilities for seamless trading on-the-go.
- Opt for E*TRADE’s Core Portfolios robo-advisor service, providing professionally managed, low-cost investment solutions tailored to your preferences.
- Access comprehensive market analysis with E*TRADE’s third-party research from providers like Morgan Stanley, Thomson Reuters, and Moody’s, enhancing your investment decisions.
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Who E*TRADE Is Not Right For
Avoid E*TRADE if you:
- Seek the absolute lowest costs
- Practice forex trading Forex traders
- Value cryptocurrency enthusiasts
- Operate as an international stock traders
- Look for the simplest possible platform
Why Choose Robinhood

Robinhood excels in simplicity and accessibility. You’ll enjoy commission-free trading for stocks, ETFs, options, and cryptocurrencies, all through a user-friendly mobile app that makes investing easy for newcomers. However, you might miss out on the advanced features and research tools that E*TRADE offers.
Who Robinhood Is Best For
This option is suited for you because you will:
- Start your investing journey with Robinhood’s simple and intuitive interface, designed to ease newcomers into the world of investing without overwhelm.
- Manage your investments effortlessly on the go with Robinhood’s sleek and user-friendly mobile app, tailored for smartphone-centric traders.
- Engage in direct cryptocurrency trading with Robinhood, a feature not commonly found on traditional brokerage platforms.
- Enjoy commission-free trading for stocks, ETFs, options, and cryptocurrencies with Robinhood, keeping costs low while investing.
- Invest in fractional shares of stocks and ETFs with Robinhood, making high-priced securities accessible even with small amounts of capital.
- Embrace Robinhood’s modern interface and social features, appealing to the tech-savvy younger generation of investors.
Who Robinhood Is Not Right For
Consider other options because it:
- Lacks many of the advanced charting tools, research resources, and order types that experienced traders require for sophisticated trading strategies.
- Limits long-term retirement plans
- Lacks access to mutual funds, limiting choices for investors seeking diversified fund investments.
- Lacks access to the bond market
E*TRADE vs Robinhood: Main Differences
E*TRADE is better for experienced traders and long-term investors due to its comprehensive platform and wide range of investment options.
| E*TRADE | Robinhood |
Ideal For | E*TRADE is ideal for a wide range of investors, from beginners to advanced traders. It caters particularly well to active traders, options traders, and long-term investors who value comprehensive research and a wide range of investment products. | Robinhood, on the other hand, is best suited for beginners and young investors who prioritize simplicity and mobile access. It’s ideal for those who want to start investing with small amounts of money, thanks to its fractional share offerings and no account minimums. Robinhood also appeals to cryptocurrency enthusiasts. |
Pricing | ● Stocks and ETFs: $0 commission ● Options: $0.65 per contract (reduced to $0.50 for active traders) ● Mutual funds: Over 4,400 no-load, no-transaction-fee mutual funds available ● Bonds: $1 per bond (minimum $10, maximum $250) ● Futures: $1.50 per contract, per side ● Broker-assisted trades: $25 ● Account minimum: $0 ($500 for Core Portfolios robo-advisor) | ● Stocks and ETFs: $0 commission ● Options: $0 commission ● Cryptocurrency: $0 commission ● Account minimum: $0 ● Robinhood Gold (premium service): $5 per month |
Integrations | ● TurboTax: E*TRADE integrates with TurboTax for easy tax reporting. ● Quicken: Users can download their E*TRADE account data into Quicken for comprehensive financial management. ● E*TRADE API: Advanced users can access E*TRADE’s API for custom integrations and automated trading strategies. ● Research integrations: E*TRADE provides integrated research from various third-party providers, including Morningstar, Thomson Reuters, and MarketEdge. | ● Limited third-party integrations ● Robinhood API: Available for developers, but with more limited functionality compared to E*TRADE’s API |
Standout Features | ● Advanced trading platforms ● Comprehensive research & education ● Robo-advisor service | ● User-friendly mobile app ● Cryptocurrency trading ● Fractional shares |
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E*TRADE vs Robinhood: Standout Features
E*TRADE stands out with its Power platform.
E*TRADE:

- Empowers with Power E*TRADE Platform: Access real-time data, risk management tools, and sophisticated options analysis, all included with no additional cost.
- Enables E*TRADE Pro: Customize your trading experience with advanced charting, streaming news, and customizable layouts on this desktop platform tailored for active traders.
- Enhances with Robust Mobile Apps: Utilize two mobile apps – the standard ETRADE app and the advanced Power ETRADE app – for seamless trading on the go.
- Equips with Options Trading Tools: Utilize a suite of options trading tools, including a risk/reward analyzer and probability calculator, enhancing your trading strategies.
- Empowers with Core Portfolios: Engage with professionally managed portfolios through E*TRADE’s robo-advisor service, featuring low fees for hands-off investing.
- Access Comprehensive Research: Dive into market insights from top providers like Morgan Stanley, Thomson Reuters, and Moody’s, empowering informed investment decisions.
- Educates with Rich Resources: Explore a wealth of educational content, from articles to videos and webinars, covering diverse investing topics to expand your financial knowledge.
- Explore Futures Trading: Engage in futures trading opportunities, a feature not available on Robinhood, expanding your investment horizons.
Robinhood:

- Navigate with A User-Friendly Mobile App: Experience easy navigation and swift trades through Robinhood’s sleek and intuitive mobile app.
- Trade Cryptocurrencies: Buy and sell popular cryptocurrencies directly within the app, catering to digital asset investors.
- Invest in Fractional Shares: Purchase fractional shares of stocks and ETFs, facilitating investment in high-value securities with small amounts of capital.
- Unlock Robinhood Gold: Access professional research, Level II market data, and higher instant deposit limits with Robinhood’s premium subscription service.
- Manage with Cash Management: Benefit from a competitive interest rate and a debit card through Robinhood’s cash management account.
- Participate in IPOs: Join select initial public offerings at the IPO price, offering exclusive investment opportunities.
- Trade Around The Clock: Take advantage of 24-hour trading for select stocks and ETFs, extending beyond traditional market hours.
- Stay Informed with Robinhood Snacks: Receive daily financial news through a newsletter and podcast, simplifying complex market information.
E*TRADE vs Robinhood: How to Open an Account with E*TRADE

- Visit the website
- Select the type of account you wish to open
- Provide personal information such as your Social Security Number, residency status, and current employment details for verification purposes
- Choose your investment profile and preferences for margin trading
- Review your application thoroughly and proceed to create your E*TRADE account ID
E*TRADE vs Robinhood: How to Open an Account with Robinhood
- Visit the website
- Set up an account
- Verify your identity
- Provide investing experience
- Review agreements
- Fund your account
E*TRADE vs Robinhood: Pros and Cons
There is a draw here between both platforms.
E*TRADE

- Pros
- Offers Comprehensive Investment Options: E*TRADE provides a wide range of investment products, including stocks, ETFs, options, mutual funds, bonds, and futures.
- Empowers with Advanced Trading Platforms: Access sophisticated tools through the Power ETRADE platform and ETRADE Pro, tailored for active traders.
- Strengthens with Strong Mobile Apps: Highly rated mobile apps from E*TRADE offer robust functionality for seamless trading.
- Accesses Extensive Research and Educational Resources: Benefit from third-party research and a wealth of educational content to enhance investment knowledge.
- Equips with Options Trading Tools: Advanced options analysis and strategy tools cater to options traders at all levels.
- Eliminates Account Minimums: E*TRADE has removed its account minimum, ensuring accessibility for all investors.
- Provides Competitive Pricing: Enjoy commission-free stock and ETF trades, along with competitive pricing for other investment products.
- Offers a Robo-Advisor Option: Utilize the Core Portfolios service for a low-cost, professionally managed investment solution.
- Cons
- Face Higher Options Contract Fees: E*TRADE’s options fees, while competitive, are higher compared to some industry competitors.
- Lacks Direct Cryptocurrency Trading: E*TRADE offers crypto-related products like futures and ETFs but does not support direct cryptocurrency trading.
- Limits Forex Trading: Investors interested in forex trading will need to seek alternative platforms.
- Limits Fractional Share Trading: Fractional shares are only accessible through dividend reinvestment or the Core Portfolios robo-advisor service.
- Lacks Support for International Stock Trading: E*TRADE does not provide access to international stock exchanges.
Robinhood

- Pros
- Navigates with a User-Friendly Interface: Robinhood’s intuitive mobile app and website simplify navigation for all users.
- Trades Commission-Free: Enjoy zero commissions on stocks, ETFs, options, and cryptocurrency trades with Robinhood.
- Invests in Fractional Shares: Access fractional shares of stocks and ETFs, enabling investment with any amount of capital.
- Engages in Cryptocurrency Trading: Directly buy and sell popular cryptocurrencies through Robinhood’s platform.
- Start with No Accounts Minimums: Begin investing with any amount of money, removing financial barriers.
- Manages Cash Effectively: Benefit from competitive interest rates on uninvested cash and access to a debit card.
- Accesses IPOs: Participate in select initial public offerings at the IPO price through Robinhood.
- Trade Around the Clock: Take advantage of extended trading hours for select securities beyond traditional market hours.
- Cons
- Limits Investment Options: Robinhood lacks mutual funds, bonds, and forex trading options compared to full-service brokers.
- Limits Basic Research Tools: The depth of research and analysis tools available on Robinhood is limited compared to comprehensive brokers.
- Limits Educational Resources: While improving, Robinhood’s educational content does not match the breadth of E*TRADE’s offerings.
- Introduces Retirement Accounts Late: Robinhood only recently introduced IRA accounts, with limited options currently available.
- Supports Sparse Customer Support: Robinhood offers fewer customer support options compared to traditional brokers, potentially impacting service quality.
- Faces Historical Controversies: Past platform outages and restrictions on meme stock trading have raised concerns among users.
- Offers Limited Advanced Order Types: Robinhood provides fewer advanced order types compared to full-service brokerage platforms.
E*TRADE vs Robinhood: Customer Reviews
ETRADE garners predominantly positive reviews for its comprehensive platform and robust mobile apps. Users commend its diverse investment options, advanced trading tools, and extensive research and educational resources. The ETRADE platform is particularly praised for its user-friendly interface and advanced features. However, criticisms focus on occasional technical issues, higher fees compared to discount brokers, and the complexity of its platforms for new investors.
Robinhood’s customer reviews are more mixed. It earns praise for its simple, intuitive mobile app and commission-free trading, appealing strongly to new investors. Positive feedback also highlights features like fractional share investing and cryptocurrency trading without account minimums. However, criticisms include limited customer support and platform outages during high-volume trading. Experienced traders often express concerns about the lack of advanced trading tools and the platform’s reliance on the payment for order flow model.
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E*TRADE and Robinhood: Competitors
E*TRADE and Robinhood face stiff competition from several other online brokers. Here are some notable competitors:
- Charles Schwab: Known for its full-service approach, Schwab offers a wide array of investment products, research tools, and comprehensive platforms, making it a direct competitor to E*TRADE.
- Fidelity: Another full-service broker with a robust platform, extensive research, and a broad range of investment options. Fidelity is recognized for its strong customer service and retirement planning tools.
- TD Ameritrade: Recently acquired by Charles Schwab, TD Ameritrade provides a comprehensive platform with advanced tools, especially for options traders. Its thinkorswim platform is highly esteemed among active traders.
- Interactive Brokers: Noted for its advanced trading capabilities and cost efficiency, Interactive Brokers attracts active traders and professionals seeking sophisticated tools.
- Webull: Positioned as a direct competitor to Robinhood, Webull offers a user-friendly mobile app with enhanced features such as robust charting tools and diverse order types, appealing to beginners and intermediate traders alike.
- SoFi Invest: Offers a user-friendly platform with commission-free trading, fractional shares, and access to cryptocurrency trading and robo-advisor services, similar to Robinhood.
- Vanguard: Known primarily for its low-cost mutual funds and ETFs, Vanguard also offers a brokerage platform that appeals to long-term, buy-and-hold investors.
- M1 Finance: Combines self-directed investing with automated portfolio management, catering to investors who prefer some control over their investments with automated features.
Pro Tips
- Consider your investment goals and experience level
- Take advantage of educational resources
- Use multiple platforms if needed
- Explore all available tools
- Be aware of tax implications
- Consider account types
- Understand order execution
- Use limit orders
- Keep an eye on cash management
- Stay informed about platform changes
Recap
When deciding between ETRADE and Robinhood, your choice should hinge on your investing experience and objectives. ETRADE is ideal for experienced traders and long-term investors seeking a comprehensive platform with advanced tools. It offers a wide range of investment options, including mutual funds and bonds, along with robust research and educational resources. The Power E*TRADE platform enhances trading capabilities, making it suitable for active traders looking to refine strategies.
In contrast, Robinhood excels in simplicity and accessibility, making it attractive for beginners and those focused on basic stock and cryptocurrency trading. Its user-friendly mobile app and commission-free trades for stocks, ETFs, options, and cryptocurrencies simplify the investment process. However, Robinhood lacks the advanced features and extensive research tools available on E*TRADE.
Ultimately, E*TRADE stands out for its comprehensive offerings and versatility, catering well to diverse investment needs and strategies. For those prioritizing ease of use and basic trading functionalities, Robinhood provides a straightforward platform to start investing with minimal barriers.
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