Retirement accounts (traditional IRAs and Roth IRAs).To access margin trading, you must be a Gold member and have at least $2,000 in your account. Robinhood has a $0 account minimum requirement on its individual brokerage accounts, but you'll need at least $1 to trade fractional shares. You can primarily trade six different types of asset classes: stocks, ETFs, options, ADRs, IPOs, and cryptocurrencies. Users can't set up transfers on death or designate beneficiaries.Must be a Robinhood Gold member for advanced research and account features.No joint accounts, trusts, automated accounts, or custodial accounts.Web platform and mobile app are easy to navigate.Fractional shares, IPOs, ADRs, and margin accounts available.Commission-free trading for stocks, ETFs, options, and cryptocurrencies.The Robinhood mobile app is available on iOS and Google Play devices. Overall, Robinhood could be a good fit for hands-on traders, day traders, and cryptocurrency traders looking to avoid excessive investing fees. It also offers a range of beneficial account tools like auto-rebalancing and a performance tracker. You can receive a customized portfolio by inserting data like your time horizon, risk tolerance, and goals. Webull's new smart advisor is an automated investing account that utilizes quantitative analysis and insights to make smart investment decisions for your financial goals (majority stocks and ETFs). Webull is better for options trading and passive investors because of its new smart advisor. But Robinhood is the better choice for folks looking for retirement savings accounts as Robinhood's traditional and Roth IRAs offer a 1% match on investor contributions. Robinhood and Webull are fairly well-matched when it comes to fees, account options, and investment opportunities. Webull is suited for investors interested in options trading and hands-off investing, whereas Robinhood is great for beginner active traders as one of the best investment apps for beginners. Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.īottom line: Both Webull Brokerage and Robinhood Investing are two of the best online brokers for free stock trading.
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