Robinhood vs Etrade
Robinhood vs Etrade: what are the differences? Which instruments are offered? Furthermore, what are the services fees? Finally, how do they compare in terms of customer support?
Here’s a quick table to compare. You will find a fully detailed description below.
Choosing a dependable brokerage is a must when dealing in uncertain financial markets.
Moreover it is important to choose a brokerage that is well equiped to provide you with a reliable and fast trading experience.
In this article we provide a detailed comparison between two infamous online trading brokerages: Robinhood and Etrade.
Robinhood vs Etrade Overview
Robinhood and Etrade have both made a name for themselves in the investment industry.
Indeed, Robinhood is a fairly new online brokerage which has grown at a rapid rate. Its revolutionary commission free trading services definitely sets it apart from its competitors.
In contrast, Etrade is a well established name since 1983. In fact, Etrade is one of the first brokerages to bring online trading to its users.
Both Robinhood and Etrade offer highly competitive services at low cost. However Robinhood has an edge with its commission free transactions.
Etrade offers zero commission trading services for stock, options and ETF for US clients. For mutual funds however, Etrade charges a $19.99 fee. Furthermore, it charges $25 for live broker assistance.
In contrast, Robinhood provides all trading services at zero commissions. Whether you trade stocks, options, ETFs and cryptocurrencies, no service fee is charged.
In comparison with Robinhood, Etrade’s wide range of financial instruments sets it apart.
Indeed, Robinhood only provides the possibility to trade in stocks, options, ETFs and limited number of cryptocurrencies.
Etrade being a pioneer, it offers a wide range of instruments. These instruments include stocks, options, futures, ETFs, mutual funds, bonds as well as convertible debentures.
Etrade has an efficient customer service which is available 24/7 by phone. Furthermore, you can reach them by chat as well as email.
Moreover, you can easily consult specialized financial experts through its telephone support line.
Robinhood only offers customer support through its app and website. Although Robinhood doesn’t have an inbound telephone support line, you can request a callback through its online platform.
Robinhood vs Etrade – Final Word
In conclusion both online platforms are well reputed and reliable. However you should always consider your trading requirements.
If you are investing on the long term, we recommend Etrade.
For short positions, day traders and beginners, Robinhood is a no brainer.