If you are looking for the best Robinhood alternatives to open a brokerage account, this post is going to show you what the top apps like Robinhood are. When it comes to finding the best Robinhood alternatives or top apps like Robinhood, find an investment app that is right for your needs.
The key is identifying your investment goals and then finding a broker the offers you the right investment account to help achieve your short term or long term investing goals.
What is Robinhood?
Robinhood platform and app is the most popular investment app that started offering free online traders in 2015. However, Robinhood’s competitors started offering commission-free trades soon, too, so zero-commission fee trading is now not special as it has become industry standard.
Although Robinhood remains the leader when it comes to investment apps, some investment apps like Robinhood also score well on user experience and other areas.
The minimum amount required to open an account with Robinhood is $0. It does not charge any fees to trade stocks. You can even buy Bitcoin and other cryptos on the platform. In a nutshell, Robinhood is best for mobile users, individual taxable accounts and margin accounts.
Robinhood has commission-free investing for stocks, options, ETFs, crypto, and tools to help shape your financial future. Sign up and get your first stock worth between $5 and $200, free.
Related: Best Stock Broker Promotions, Deals, & Bonuses
Is there a better app than Robinhood?
Robinhood made investing accessible to just about anyone in a lot of different ways, including offering free trades in a time when the average trading fee is $9! Robinhood enables people to buy fractional shares where you can buy a piece of a stock or share of a single high-value stock. So
Many people are migrating from Robinhood after the Great Meme Stock Debacle of 2021. While Robinhood still remains a popular investing app for many beginner investors, it is not the only one out there. So, if you want to open an alternative or supplement account or open your first investment account, we highly recommend that you check out our recommendations below.
Best Robinhood Alternatives
Here are our top apps like Robinhood if you are looking for the best Robinhood alternatives.
1. M1 Finance
M1 Finance is a very easy-to-use app that allows you to invest your way so you can build wealth your way. The app allows you to build a custom portfolio by choosing the stocks and funds from more than 80 expert portfolios. M1 Finance offers various types of accounts, such as brokerage accounts (Individual and Joint), retirement accounts, trust accounts and custodial accounts.
The app enables you to buy fractional shares. You can choose from over 6,000 stocks and ETFs that are listed on NYSE and the NASDAQ exchanges. You can automate your contribution. The platform will also rebalance your portfolio for you.
Pricing/Commission
No fees to trade stocks or asset management fees.
Account Minimum
No amount is required to open an account.
Best for
M1 Finance app is best for those who want to create portfolios containing low-cost ETFs or use individual stocks – or both.
- No fees on any of your investments
- Choose from over 80 pre-built portfolios
- Low $100 minimum investment amount
2. Webull
Webull is an app-based trading platform and one of the best Robinhood alternatives that offers zero fee, zero commission and requires no minimum amount to open an account. However, Webull does not allow you to buy fractional shares.
The platform is easy to navigate, so it offers a great user experience. Webull offers extended trading hours, so is is good for active traders. There are no trading fees and minimum amount required to open an account.
Pricing/Commission
Zero fees to trade stocks
Account Minimum
$0 amount required to open an account
Best for
Webull app is best for active traders
Expand your stock portfolio & own fractional shares of your favorite companies at a $5 min. Pay $0 in commission & management fees when you trade fractional shares with Webull.
3. Public
Public is a commission-free stock brokerage company. You can build your investment portfolio using the Public app. It allows you to invest in fractional shares of stocks and ETFs. It is a free investment platform that is particularly suitable for new investors.
If you want to buy fractional shares, i.e. buy less than a whole share of any particular stock, it is for you. It is one of the best Robinhood alternatives. Within the Public app, you can see other traders’ trading activity so you can copy their strategy completely or get trading ideas from their strategy.
Pricing/Commission
$0 commission or fee to trade stocks
Account Minimum
$0 amount required to open an account
Best for
Public app is best new investors
Invest in stocks. Learn from others. Public lets you invest in stocks with any amount of money and see what others invest in. Public.com is a fusion of investing and social media, all with $0 commissions.
4. Acorns
Acorns is a popular micro investing app that is specially designed for new investors. Acorns automatically invests your spare change and offers cashback at select retailers. It is one of the best investment apps like Robinhood.
The app has an easy-to-navigate interface. Unlike other Robinhood alternatives on the list, their fees are on the high side. However, its automatic savings features help people save more towards investing.
Pricing/Commission
Acorns charges $1-$3 fee per month to trade stocks, depending on the account type you choose
Account Minimum
$0 amount required to open an account
Best for
Acorns app is best for new investors
With Acorns, you can easily invest your spare change. Anyone can “squirrel” away some money and become an investor with Acorns. Enjoy a $10 welcome bonus when you open a new Invest account. You just need to open the account using the button below and fund it with $5 to earn the reward.
5. Stash
Stash is a popular online brokerage firm and one of the best Robinhood alternatives if you are interested in buying fractional shares. Fractional shares make it easy to invest what you can afford on a set schedule.
Traders on Robinhood enjoy free trading and are more active, but Stash provides far more educational material and a managed portfolio. However, Stash charges higher fees than other Robinhood alternatives on the list.
Pricing/Commission
Stash charges a $3-$9 per month fee, depending on what services and account types you are looking for
Account Minimum
Invest any dollar amount
Best for
The Stash app is best for complete beginner investors or traders
Stash is one of the best investing apps for beginners, with a ton of options, a low price point, and personalized guidance.
Paid non-client endorsement. See Apple App Store and Google Play reviews. View important disclosures.
Nothing in this material should be construed as an offer, recommendation, or solicitation to buy or sell any security. All investments are subject to risk and may lose value.
6. SoFi Invest
With SoFi Invest, you can get started investing with as little as $5. They allow you to buy and sell stocks of your own choosing. Its automated investing option offers one of the best robo advising platforms. The platform also provides free educational seminars and meetings with financial advisors.
SoFi offers individual investment accounts, joint accounts (held by two people) and a range of retirement accounts and rollover options. Once you download the app and open an account, you can get up to $1,000 in free stocks.
Pricing/Commission
$0 commission or fee to trade stocks
Account Minimum
$0 amount required to open an account
Best for
The SoFi app is best for new investors
- Become an investor— without commission fees
- Make your first trade or your next trade with active investing
- Learn the market as you do-it-yourself buying hot IPOs or cryptocurrencies
7. MooMoo
The MooMoo app is a 0% commission professional trading platform that is free and easy to use. The platform provides free in-depth market data and useful analytical tools to help you make smart investment decisions.
MooMoo offers free stocks (depending on terms and conditions) to new customers if they open a brokerage account during the promotion period.
Pricing/Commission
MooMoo offers $0 commission or free to trade stocks
Account Minimum
No minimum amount required to open an account
Best for
The MooMoo app is best for both beginners and experienced traders
8. Gatsby
Gatsby is an app that allows you to trade stocks and options. The platform also allows their users to earn rewards points for each eligible trade they do. They can then redeem their rewards points for cash at the end of each month. It offers
The app has an easy, clean interface, so it is very easy to use. The Gatsby platform does not support IRA accounts.
Pricing/Commission
$0 commission or fee to trade stocks and options
Account Minimum
$0 minimum amount required to open an account
Best for
The Gatsby app is best for investors or traders who are interested in trading options
9. Wealthsimple
The Wealthsimple app is a popular investing app that has an easy-to-use interface. Users can build a personalized diversified portfolio (including socially responsible and halal/Shariah-compliant options) specific to their goals.
Users can invest in fractional shares through the Wealthsimple app. It offers automatic rebalancing and expert financial advice. Overall, this is a popular and one of the best trading and investing apps like Robinhood.
Pricing/Commission
0.5% fees for balance $99.999 and less, and 0.4% for balances above $100,000
Account Minimum
$0 minimum amount required to open an account
Best for
The Wealthsimple app is best for beginner investors and socially responsible investors
Wealthsimple makes it easy to grow your month like you are one of the world's most sophisticated investors. They offer an easy-to-use investment app that has low-fees.
10. Stockpile
Stockpile is an app-based brokerage firm that offers a simple, streamlined interface to buy and sell stocks and ETFs easily. It is a great platform for newbie investors who want to build diversified portfolios. Stockpile, however, does not offer a broad range of products.
Stockpile was built with young people in mind to encourage them to start trading early. The platform offers gift card options and custodial accounts to help kids and teens learn about investing early in stocks.
Pricing/Commission
Stockpile charges $0.99 fees to trade stocks
Account Minimum
There is no minimum amount required to open an account
Best for
This app best for young investors looking to invest in stocks
11. E*TRADE
With an E*TRADE brokerage account, you can start trading immediately. This trading platform works best for advanced traders, intra day traders, derivative traders and those saving for retirement.
You can trade on mobile or trade using the website through the platform.
Pricing/Commission
you will pay $0 fees/commissions to trade stocks, ETFs and options trades with E*TRADE
Account Minimum
$0 amount required to open an account
Best for
This trading platform works best for advanced traders, intraday traders, derivative traders and those saving for retirement.
12. Charles Schwab
Charles Schwab is a popular and one of the leading online brokerage platforms when it comes to trading stocks online. It offers three trading platforms, including two mobile apps and a browser-based platform.
Charles Schwab offers a wide range of products for all investors and traders. Charles Schwab is particularly good when it comes to retirement savings as it offers better account types. It has a highly rated app-based platform called Schwab Mobile which is one of the best apps like Robinhood.
Pricing/Commission
$0 commission or fee to trade stocks
Account Minimum
$0 amount required to open an account
Best for
Schwab Mobile (Schwab’s app) is best for both beginner investors and advanced traders and specifically for those looking to save for retirement
13. Fidelity
Fidelity is one of the largest brokerages in the U.S. Using your Fidelity mobile app you can invest in fractional shares. The app lets you access your investment account whenever and wherever you want.
You can trade anytime, anywhere with the Fidelity app or mobile platform. You can use its app on your mobile device to contribute to your IRA.
Pricing/Commission
$0 commission or fee to trade stocks
Account Minimum
$0 amount required to open an account
Best for
Fidelity app/site is best for frequent traders and beginner investors
13. Ally Invest
Ally Invest is one of the best Robinhood alternatives that offers a wide range of investment choices. The platform also offers a wide selection of resources, including advanced charting tools to help investors make the right investment decisions.
Users have access to advanced charting tools and numerous calculators.
Pricing/Commission
Ally Invest offers $0 commission or fee when trading on eligible U.S.-listed stocks and ETFs
Account Minimum
$0 account minimum required to open an account
Best for
This app is best for investors of all experience levels, i.e. both new and experienced investors and traders.
14. TD Ameritrade
TD Ameritrade is one of the best Robinhood alternatives when it comes to stock trading online. TD Ameritrade and Charles Schwab are now part of a single company. The platform offers more trading options than Robinhood, and does not charge commission or fee to trade stocks online.
It is one of the easiest trading platforms you can use on both mobile and desktop. The platform offers a wide selection of products to choose from to build your portfolio. Trading fees for options are comparable to most other platforms, which helps keep investment costs low. TD Ameritrade doesn’t offer fractional shares, but the options for stock research are tremendous.
Pricing/Commission
TD Ameritrade does not charge commission or fees to trade stocks
Account Minimum
$0 minimum amount required to open an account
Best for
The TD Ameritrade app is best for all levels of investors, especially self-directed investors and traders
The Best Robinhood Alternatives
If you are like many people, worried about losing the great features Robinhood does offer, these are the best Robinhood alternatives. You really need to choose from the best Robinhood alternatives. But make sure you do your research to understand all the many types of brokerage accounts, so you can make sure you are choosing the right investment app for your needs.
- Get spotted up to $250 without fees
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