Robinhood Alternatives: Pros, Cons, And How It Stacks Up 2024 Update
This alternatives to Robinhood guide has been updated for 2024 by industry experts with years of financial experience in Forex, CFDs, & Social Trading. We have worked to gather hundreds of data points about the alternatives to Robinhood to make sure you have as much information as possible to make an informed decision.
There are a lot of good alternatives to Robinhood like Startrader, freetrade, and easyMarkets. They all provide the same, if not more, features to their clients. If you feel that Robinhood is not quite right for you then it would be worth getting a demo account with a few of the best Robinhood alternatives and ensuring that they are a better fit for you before moving any money around.
The most in depth guide to Robinhood alternatives online
There are a lot of reasons Robinhood may not be a good fit for your trading needs. Whatever reason you are looking for the top Robinhood alternative or Robinhood competitor with similar services, we try to give you as much useful information so you can make an informed choice. Below you will find the best Robinhood alternatives.
For each of the alternative to Robinhood, we also highlight the key differences to Robinhood and for each platform feature show you the best competitors. For each Robinhood alternative trading platform shown we also have detailed trading platform reviews and guides that you can easily click to view elsewhere on comparebrokers.org, all based on hundreds of datapoints collected and reviewed by experts. If you are not happy with Robinhood, find some great alternative brokersbrokers|online trading platforms|brokerages.
Using a reputable and dependable broker is crucial to having a successful trading career. All of the Robinhood alternative platforms shown in this Robinhood alternatives guide have good reputations and fit what you are looking for.
Alternatives With Lower Minimum Deposit
Robinhood has a minimum desposit of $0, you should check how the minimum deposit requirements of Robinhood compare with the minimum deposit requirements of Robinhood competitors. Online brokers often have lower minimum deposits to get users to test them out, but having higher a minimum deposit requirement isn’t necessarily a bad thing, it all comes down to your individual trading needs.
| Broker | Minimum Deposit | Find Out More |
|---|---|---|
|
Robinhood |
$0 | |
| freetrade |
$0 | |
| ThinkMarkets |
$0 | |
| Spreadex |
$0 | |
| XTB |
$0 |
Alternatives Offering Virtual Portfolio Accounts
Robinhood offers virtual portfolio accounts so you can learn their systems before risking any real capital. Newbie traders can open a demo account in order to better understand the aspects of Forex trading and test out some of the company’s features before risking a live account.
Below we show some of the best alternatives to Robinhood that have virtual portfolio accounts.
| Broker | Offers Demo Account? | Find Out More |
|---|---|---|
|
Robinhood |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
Yes |
|
Alternatives Offering Negative Balance Protection
Robinhood does not provide negative balance protection. If your balance is negative, Robinhood indicates you promptly contact client services. Then you can fix any imbalances in your own account.
Below we list some of the best alternatives to Robinhood that has negative balance protection.
| Broker | Offers Negative Balance Protection? | Find Out More |
|---|---|---|
|
Robinhood |
No | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| Uphold |
Yes |
Alternatives Offering Guaranteed Stop Loss
Robinhood provide a guaranteed Stop Loss capability.
When there's absolutely no free margin left together with the client, Robinhood will stop your positions. When the losses in the ceased out position exceeds your account balance, you might encounter a negative account balance.
Below we show some of the top Robinhood alternatives that offer guaranteed stop loss available for their clients.
| Broker | Offers Guaranteed Stop Loss? | Find Out More |
|---|---|---|
|
Robinhood |
Yes | |
| easyMarkets |
Yes | |
| Uphold |
Yes | |
| instaforex |
Yes | |
| FreshForex |
Yes |
Alternatives Offering Scalping
Robinhood do allow scalping. Several traders across the world choose Robinhood for their services that are trading. They offer trading on Web Trader, Tablet & Mobile apps which let this.
Below we detail some of the top alternatives to Robinhood that offer scalping functionality to their users.
| Broker | Offers Scalping? | Find Out More |
|---|---|---|
|
Robinhood |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
No |
|
Alternatives That Allow Hedging
Robinhood do allow hedging. Several traders across the world select Robinhood for their large range of services. They offer trading on Web Trader, Tablet & Mobile apps.
Below we list some of the top alternatives to Robinhood that allow hedging services to their customer base.
| Broker | Offers Hedging? | Find Out More |
|---|---|---|
|
Robinhood |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
No |
|
Alternatives That Allow Social Trading
Robinhood's social trading platform allows traders to share their expertise with others to build a community of investors and traders. What stocks they are monitoring, what to buy, what to sell. Intermediate traders can then absorb this expert knowledge and create their own trades. It is a more independent version of copy trading.
Below we show some of the best Robinhood alternatives that have social trading capabilities.
| Broker | Offers Social Trading? | Find Out More |
|---|---|---|
|
Robinhood |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
No |
|
Alternatives That Allow Copy Trading
To build a strong community of traders and investors, and to encourage successful traders to share their wisdom, Robinhood offers copy trading which gives access to leading traders sharing their knowledge with the community. Which stocks they are following, what stocks to buy, and what stocks to sell. Intermediate traders can then absorb this expert knowledge and create their own trades. This is calculated social trading..
Below we show some of the best Robinhood alternatives that offer copy trading to their clients
| Broker | Offers Copy Trading? | Find Out More |
|---|---|---|
|
Robinhood |
No | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
No |
|
Compare Robinhood To All Other Brokers