Robinhood is a financial services company with online brokers offering commission-free trading and investing in stocks, ETFs, and cryptocurrencies.Robinhood is a popular commission-free trading platform that gained significant attention for disrupting the traditional brokerage industry. In this article, we discuss the top Robinhood Competitors and Alternatives.
Founded in 2013, Robinhood aimed to democratize investing by making it accessible to everyone regardless of financial status. The platform gained immense popularity due to its user-friendly interface and revolutionary model that eliminated commission fees on trading stocks, ETFs, and options.
One of the defining features of Robinhood is its simplicity. The platform offers a streamlined and intuitive user experience, making it easy for novice investors to get started. Its clean design and user-friendly interface make Robinhood a hassle-free stock trading experience. Additionally, Robinhood introduced fractional shares, allowing users to invest in high-priced stocks with just a few dollars. This feature removed yet another barrier to entry into the world of investing and captured the attention of young investors seeking affordable opportunities.
- Product Type: Financial Services
- Industry: Financial Services
- Founded Date: April 18, 2013
- Founders: Vladimir Tenev and Baiju Bhatt
- Headquarters: Menlo Park, California, United States
- Area Served: United States
- Current CEO: Vlad Tenev
Table of Contents
The top Robinhood competitors are
1. Webull
- Product Type: Online brokerage
- Industry: Financial services
- Founded Date: 2017
- Founders: Anthony Denier
- Headquarters: New York City, New York, United States
- Area Served: United States
- Current CEO: Anthony Denier
Webull is an online brokerage platform that offers commission-free trading for stocks, ETFs, and options. With a user-friendly interface and real-time market data, Webull provides investors with the tools and resources to make informed decisions. The platform also offers advanced order types and research tools to help users manage their investments effectively.
2. M1 Finance
- Product Type: Online brokerage and robo-advisor
- Industry: Financial services
- Founded Date: 2015
- Founders: Brian Barnes
- Headquarters: Chicago, Illinois, United States
- Area Served: United States
- Current CEO: Brian Barnes
M1 Finance is a robo-advisory platform that combines automated investing with customizable portfolios and low trading fees. Users can create their investment strategy by selecting from a wide range of stocks and ETFs, and M1 Finance automatically manages the portfolio, rebalances it, and reinvests dividends. With no trading fees and the ability to automatically invest in fractional shares, M1 Finance is a convenient and cost-effective option for both beginner and experienced investors.
3. SoFi Invest
- Product Type: Online brokerage and robo-advisor
- Industry: Financial services
- Founded Date: 2011
- Founders: Mike Cagney, Dan Macklin, James Finnigan, Ian Brady
- Headquarters: San Francisco, California, United States
- Area Served: United States
- Current CEO: Anthony Noto
- Number of employees: 1,000+
- Market capitalization: USD 8.65 billion (as of October 12, 2023)
SoFi Invest is an investment and financial services platform that offers a variety of investment options, including stocks, ETFs, and cryptocurrency. SoFi Invest aims to make investing accessible to all, with no account fees, minimum investment requirements, and commission fees. The platform also provides educational resources and tools to help users build their financial knowledge and make informed investment decisions.
4. Public
- Product Type: Online brokerage and social investing app
- Industry: Financial services
- Founded Date: 2019
- Founders: Jannick Malling, Matt Kennedy
- Headquarters: New York City, New York, United States
- Area Served: United States
- Current CEO: Jannick Malling
Public is a social investing platform that allows users to buy and sell stocks with no commission fees. The public differentiates itself by focusing on transparency and community engagement. Users can follow other investors, share their investment strategies, and view each other’s portfolios. The platform also provides educational content and the ability to invest in fractional shares.
5. E*Trade
- Product Type: Online brokerage
- Industry: Financial services
- Founded Date: 1982
- Founders: William A. Porter, Bernard A. Newcomb
- Headquarters: Arlington, Virginia, United States
- Area Served: United States
- Current CEO: Michael A. Pizzi
E*Trade is a well-established online brokerage platform that offers a wide range of investment options, including stocks, bonds, mutual funds, and options. With a user-friendly interface and comprehensive research tools, E*Trade caters to both beginner and advanced investors. The platform also provides educational resources, retirement planning tools, and access to financial advisors for personalized support.
6. TD Ameritrade
- Product Type: Online brokerage
- Industry: Financial services
- Founded Date: 1971
- Founders: Joe Ricketts
- Headquarters: Omaha, Nebraska, United States
- Area Served: United States
- Current CEO: Tim Hockey
TD Ameritrade is a popular online brokerage platform known for its robust trading tools and extensive investment options. TD Ameritrade offers many investment products, including stocks, ETFs, mutual funds, options, and futures. The platform provides advanced trading features, such as customizable charts, technical analysis tools, and a wide range of research resources.
7. Acorns
- Product Type: Micro-investing app
- Industry: Financial services
- Founded Date: 2012
- Founders: Jeff Cruttenden, Walter Cruttenden
- Headquarters: Irvine, California, United States
- Area Served: United States
- Current CEO: Noah Kerner
Acorn is a micro-investing app that aims to help users save and invest their spare change. Acorns automatically round up everyday purchases to the nearest dollar and invest the spare change into a diversified portfolio of ETFs. The app also offers automated recurring investments, personalized portfolios based on user goals, and educational content to help users build their financial knowledge.
8. Stash
- Product Type: Micro-investing app
- Industry: Financial services
- Founded Date: 2015
- Founders: Brandon Krieg, Ed Robinson, David Ronick
- Headquarters: New York City, New York, United States
- Area Served: United States
- Current CEO: Brandon Krieg
Stash is an investment app that makes investing simple and accessible for beginners. Stash offers a variety of investment options, including stocks, ETFs, and curated portfolios. Users can start with as little as $5 and build their investment portfolio over time. The app provides educational content and personalized guidance to help users make informed investment decisions.
9. Cash App Investing
- Product Type: Investment app
- Industry: Financial technology
- Founded Date: 2013
- Founders: Brian Grassadonia and Square, Inc.
- Headquarters: San Francisco, California, United States
- Area Served: United States
- Current CEO: Brian Grassadonia
Cash App Investing is a feature within the popular Cash App that allows users to invest in stocks and ETFs with no commission fees. Cash App Investing offers fractional shares, making it accessible for users with limited funds. The platform also provides a simple and intuitive interface for investment apps, real-time market data, and the ability to set up recurring investments.
10. Fidelity
- Product Type: Financial services
- Industry: Financial services
- Founded Date: 1946
- Founders: Edward C. Johnson II
- Headquarters: Boston, Massachusetts, United States
- Area Served: Worldwide
- Current CEO: Abigail Johnson
Fidelity is a well-known financial services company that offers a wide range of investment options, including stocks, ETFs, mutual funds, bonds, and options. Fidelity provides a comprehensive investment tools and resources suite, including research, analysis, and trading platforms. The platform also offers retirement planning tools, educational resources, and access to financial advisors.
11. Charles Schwab
- Product Type: Financial services
- Industry: Financial services
- Founded Date: 1971
- Founders: Charles R. Schwab
- Headquarters: Westlake, Texas, United States
- Area Served: Worldwide
- Current CEO: Walt Bettinger
Charles Schwab is a leading brokerage firm that offers a wide range of investment options, including stocks, ETFs, mutual funds, bonds, and options. Charles Schwab provides a user-friendly platform with advanced trading tools, research resources, and personalized support from financial advisors. The platform also offers retirement planning tools, educational resources, and no commission fees for online trades.
12. Vanguard
- Product Type: Investment management
- Industry: Financial services
- Founded Date: 1975
- Founders: John C. Bogle
- Headquarters: Malvern, Pennsylvania, United States
- Area Served: Worldwide
- Current CEO: Tim Buckley
Vanguard is an investment management company known for its low-cost index funds and ETFs. Vanguard offers many investment options, including stocks, bonds, mutual funds, and ETFs. The company focuses on long-term investing and offers low-expense ratios, making it popular for investors seeking low-cost investment options.
13. Ally Invest
- Product Type: Investment services
- Industry: Financial services
- Founded Date: 2005
- Founders: GMAC Inc.
- Headquarters: Charlotte, North Carolina, United States
- Area Served: United States
- Current CEO: Lule Demmissie
Ally Invest is an online brokerage platform that offers a variety of investment options, including stocks, ETFs, options, and mutual funds. Ally Invest provides retail investors with a user-friendly platform with competitive pricing, advanced trading tools, and access to research resources. The platform also offers automated portfolio management and retirement planning tools.
14. Merrill Edge
- Product Type: Investment services
- Industry: Financial services
- Founded Date: 2010
- Founders: Bank of America
- Headquarters: Charlotte, North Carolina, United States
- Area Served: United States
- Current CEO: Aron Levine
Merrill Edge is an online brokerage platform that is part of Bank of America. Merrill Edge offers many investment options, including stocks, ETFs, mutual funds, and options. The platform provides a user-friendly interface, research tools, and access to market insights. Users also have the option to combine investment accounts with their Bank of America banking and investment accounts for convenience.
15. Tastyworks
- Product Type: Investment services
- Industry: Financial services
- Founded Date: 2017
- Founders: Kristi Ross and Tom Sosnoff
- Headquarters: Chicago, Illinois, United States
- Area Served: United States
- Current CEO: Kristi Ross
Tastyworks is an online brokerage platform that focuses on options and futures trading. Tastyworks offers a user-friendly trading platform with advanced order types, options trading tools, and real-time streaming data. The platform also provides educational resources, including webinars and video tutorials, to help users improve their options trading skills.
16. TradeStation
- Product Type: Investment services
- Industry: Financial services
- Founded Date: 1982
- Founders: William and Rafael Cruz
- Headquarters: Plantation, Florida, United States
- Area Served: United States
- Current CEO: John Bartleman
TradeStation is an online brokerage platform that offers a variety of investment options, including stocks, options, futures, and ETFs. TradeStation provides a powerful trading platform with advanced tools for technical analysis, automated trading, and strategy backtesting for more complex trading strategies. The platform also offers educational resources and a community of traders for support and collaboration.
17. Interactive Brokers
- Industry: Brokerage
- Founded Date: January 1, 1978
- Founders: Thomas Peterffy
- Headquarters: Greenwich, Connecticut, United States
- Area Served: Worldwide
- Current CEO: Milan Galik
- Number of employees: 2,900+
- Market capitalization: $25.5 billion (October 2023)
Interactive Brokers is a global brokerage firm that offers a wide range of investment options and trading services. Interactive Brokers provides professional-grade trading platforms with advanced tools for active traders and institutional investors. The platform offers competitive pricing, a comprehensive research tools and resources suite, and access to global markets.
18. Firstrade
- Industry: Securities Brokerage
- Founded Date: 1985
- Founders: John C. Liu
- Headquarters: Flushing, New York, United States
- Area Served: United States
- Current CEO: John C. Liu
Firstrade is an online brokerage platform that offers commission-free trading for stocks, options, and ETFs. Firstrade provides a user-friendly trading platform with real-time market data, advanced order types, and research tools. The platform also offers educational resources, retirement planning tools, and a variety of brokerage account types to suit different investor needs.
19. Alpaca
- Industry: Apparel and accessories
- Area Served: Global
Alpaca is an online brokerage platform that offers commission-free trading for stocks, ETFs, and options. Alpaca provides a developer-friendly API that allows users to build and automate complex trading strategies. The platform also offers a user-friendly trading interface, real-time market data, and access to research resources.
20. TradeZero
- Industry: Online broker-dealer
- Headquarters: Brooklyn, New York, United States
- Area Served: United States
- Current CEO: Dan Pipitone
TradeZero is an online brokerage platform that offers commission-free trading for stocks, options, and ETFs. TradeZero provides a user-friendly trading platform with advanced order types, real-time stock market data, and research tools. The platform also offers short-selling and margin trading capabilities.
21. eToro
- Industry: Social trading and multi-asset brokerage
- Founded Date: 2007
- Founders: Yoni Assia, Ronen Assia, David Ring
- Headquarters: Hoboken, New Jersey, United States
- Area Served: Worldwide
- Current CEO: Yoni Assia
- Number of employees: 1,000+
- Market capitalization: $10.4 billion (October 2023)
eToro is a social trading platform that allows users to trade stocks, ETFs, cryptocurrencies, and other financial instruments. eToro differentiates itself by combining social networking with trading, allowing users to follow and copy the trades of successful traders. The platform also offers advanced traders a user-friendly interface, educational resources, and a virtual trading account for practice.
22. Betterment
- Industry: Robo-advisor
- Founded Date: 2008
- Founders: Jon Stein, Eli Broverman
- Headquarters: New York, New York, United States
- Area Served: United States
- Current CEO: Sarah Levy
Betterment is a robo-advisory platform that offers automated investing and portfolio management services. Betterment creates and manages a diversified portfolio of ETFs based on user goals and risk tolerance. The platform provides personalized investment recommendations, automatic rebalancing, and tax-efficient strategies. Betterment also offers retirement planning tools and access to financial advisors.
23. Wealthfront
- Industry: Robo-advisor
- Founded Date: 2008
- Founders: Andy Rachleff, Dan Carroll
- Headquarters: Redwood City, California, United States
- Area Served: United States
- Current CEO: Andy Rachleff
Wealthfront is a robo-advisory platform that offers automated investing and financial planning services. Wealthfront creates and manages diversified portfolios of low-cost ETFs based on user goals and risk tolerance. The platform provides personalized investment strategies, tax-loss harvesting, and access to financial planning tools. Wealthfront also offers a high-yield cash account and the ability to borrow against the investment portfolio.
24. Coinbase
- Industry: Cryptocurrency exchange
- Founded Date: 2012
- Founders: Brian Armstrong, Fred Ehrsam
- Headquarters: San Francisco, California, United States
- Area Served: Worldwide
- Current CEO: Brian Armstrong
- Number of employees: 2,000+
- Market capitalization: $50.5 billion (October 2023)
Coinbase is a popular cryptocurrency exchange platform that allows users to buy, sell, and store cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. Coinbase provides a user-friendly interface, secure storage, and insured funds for added protection. The platform also offers educational resources and the ability to earn cryptocurrencies through Coinbase Earn.
An alternative for those who want to trade but do not have sufficient capital to do so are funded accounts. Here you can check which are the best prop trading firms that offer funded accounts.
These were all the competitors of Robinhood. If you know any other competitors, please write in the comments below.
Liked this post? Check out the complete series on Competitors
