Companies Like Robinhood

Brokerage Firm Rating Stock & ETF Options Cost Mutual Funds Min To Open Review
Firstrade Firstrade rating $0 $0 $0 $0 Review
M1 Finance 4.5-star brokerage firm rating $0 na na $0 Review
WeBull Webull Rating $0 na na $0 Review
Robinhood 3-star brokerage firm rating $0 $0 na $0 Review
Chase 3-star brokerage firm rating $2.95 na $0 $0 Review


Best Free Brokerage Firms

Let's review the top free online brokerage companies in 2019:

-  Firstrade offers the lowest commissions on all investment products in the industry. Their pricing is $0 for stock or ETF trades, and $0 for mutual funds transactions. One of the main reasons it is THE BEST free brokerage firm is that unlike its competitors it does offer investing in mutual funds and bonds. There are no account maintenance or inactivity fees. Learn more ...

Promotion link: $0 commissions + up to $200 in transfer fee rebates.

Open Firstrade Account


-  M1 Finance offers a unique investing way for stocks and ETF's - customers create "pies" - the basket of stocks and ETF's that can be traded as one unit. There are no account maintenance or inactivity fees with this broker. Investors can open this top free brokerage account with $0 down. Learn more ...

Promotion link: Invest for FREE + borrow up to $5,000 at 0% APR from 06/01/2019 to 06/30/2019.

Open M1 Finance Account


-  WeBull is new and aggressive company in the $0-commission niche. They have the best mobile app and investment research among the competitors. New clients get one free stock just for signing up and another free stock after making $100 deposit. There are no mutual funds, IRA's or DRIPs available at this broker. Learn more ...

Promotion link: Get 2 FREE stocks between $3 and $300 when you open account at WeBull.

Open WeBull Account


-  Robinhood is perhaps the best known among the top free brokerage firms. It offers no commission investing in U.S. stocks, options and ETF's. Unlike the other two competitors, almost all services are located on the smartphone app; website has very little functionality at this broker. Learn more ...

Promotion link: Open account and get one free $3-$6 value stock.

Open Robinhood Account


About Robinhood Brokerage

Robinhood Financial, a startup founded in 2013, is a mobile app and a browser-based app with a mission to democratize investing by offering commission-free trading.  Rather than make money through trade commissions, Robinhood Financial profits by charging users to borrow marginable funds through its Robinhood Gold program. While the platform has some limitations, it is an excellent option for new traders who are looking for an easy way to get started in the world of investing.

Offerings

- U.S. Exchange-Listed Stocks and ETFs
- Options Contracts for U.S. Exchange-Listed Stocks and ETFs
- Cryptocurrencies, including Bitcoin and Ethereum
- ADRs for over 250 Globally-Listed Companies

Does not support:

- Foreign-Domiciled stocks
- Select OTC Equities
- Preferred Stocks
- Tracking Stocks
- Mutual Funds
- Bonds and Fixed-Income Trading
- Foreign Exchanges

Cost

- No Account Minimum, but $2,000 minimum for borrowing on margin
- $0 for Stocks and ETFs
- $0 for options
- $0 for Cryptocurrency

Helpful Features

- Robinhood Gold - Their tiered membership program, offers margin funds and access to pre-market and after-hours trading for a set monthly fee. Gold tiered fees depend on the account balance. Accounts can only borrow a margin of two times its balance and require an account balance of $2,000 under FINRA regulations. For example, if your account balance is $2,000, your maximum margin will be $2,000 and will provide a range of margins up to $2,000 at $10 per month. Larger account balances may borrow more, but will also have an increased fee: a $15,000 margin will cost $75 per month. This program is primarily how the brokerage makes money. Note that other brokerages usually provides this feature for free.

- Pattern Day Trade Protection - PDT protection prevents traders with accounts of less than $25,000 from executing three-day trades in a five day period. This protection prevents traders from being marked as a pattern day trader, thereby violating FINRA regulations and being barred from trading for 90 days. 

- Referral Program: A free stock for you and each person you refer.

- Includes news for each company and live earnings calls

- Phone and Email Support Monday -Friday (9am-6pm EST) during market hours

Tools

- Watchlist
- Candlestick/Linear Charts
- Stock Market News