Robinhood vs. E*TRADE: 2024 Comparison

E*TRADE and Robinhood both offer free trading of stocks and ETFs. But with robust platforms and a larger investment selection, E*TRADE may appeal to more investors.
Chris Davis
Kevin Voigt
By Kevin Voigt and  Chris Davis 
Updated

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It’s hard to compare E*TRADE and Robinhood: Both brokers allow investors to trade stocks and ETFs for free. But there's more to differentiate them: Generally speaking, E*TRADE will appeal to investors who want access to a wider range of investments — including index and mutual funds — as well as a high-powered trading platform, deep educational content and 24/7 customer support. Robinhood typically targets investors who prioritize low costs above all else and want an easy-to-use mobile platform.

Here's a look at how E*TRADE and Robinhood stack up against each other:

E*TRADE
NerdWallet rating 

on E*TRADE's website

E*TRADE is best for:

  • Frequent traders.

  • Beginner investors.

  • Research and data.

  • Retirement planning assistance.

E*TRADE at a glance

Account minimum

$0

Stock trading costs

$0

Options trades

No base commission; $0.65 per contract (volume discount available)

Account fees (annual, transfer, closing, inactivity)

No annual or inactivity fee. $75 full transfer out fee.

Interest rate on uninvested cash

0.01%

Number of no-transaction-fee mutual funds

More than 4,000

Tradable securities

• Stocks • Bonds • Mutual funds • ETFs • Options • Futures

Trading platform

Two platforms available for free to all customers: • E-Trade Web • Power E-Trade

Mobile app

Two apps: • E*TRADE mobile • Power E*TRADE Available on iOS and Android.

Research and data

Free and extensive, with several external providers available at no cost.

Customer support options (includes how easy it is to find key details on the website)

Phone, email and chat support 24/7; 64 local and 2 national branches

Robinhood
NerdWallet rating 

on Robinhood's website

Robinhood is best for:

  • Mobile users.

  • Individual taxable accounts and IRAs.

  • Margin accounts.

Robinhood at a glance

Account minimum

$0 for brokerage accounts, Robinhood Gold accounts and IRAs.

Stock trading costs

$0.

Options trades

$0.

Account fees (annual, transfer, closing, inactivity)

No annual, inactivity or ACH transfer fees. $100 ACAT outgoing transfer fee. (Robinhood Gold costs $5 a month.). Matching funds in IRAs may be taken back if money is withdrawn after less than five years.

Interest rate on uninvested cash

1.5% for free accounts, 5% for Gold accounts.

Tradable securities

• Stocks. • ETFs. • Options. • Cryptocurrency. • American Depositary Receipts for over 650 global companies. • Fractional shares. • Bonds only available in the form of bond ETFs.

Number of no-transaction-fee mutual funds

Not rated.

Trading platform

Robinhood's mobile and web platforms are known for their smooth sign-up, funding and trading processes. However, the constant pop-up notifications can be exhausting.

Mobile app

Mobile trading platform includes customizable alerts, news feed, advanced charting and ability to listen live to earnings calls for some companies.

Research and data

Access to professional research from Morningstar and Level II market data from the Nasdaq Stock Exchange (with Gold subscription).

Customer support options (includes how easy it is to find key details on the website)

24/7 chat support. Phone support available from 7:00 a.m. ET to 9:00 p.m. ET.

Advertisement
NerdWallet rating 

4.9

/5
NerdWallet rating 

5.0

/5
NerdWallet rating 

4.1

/5

Fees 

$0

per online equity trade

Fees 

$0

per trade

Fees 

$0

per trade

Account minimum 

$0

Account minimum 

$0

Account minimum 

$0

Promotion 

None

no promotion available at this time

Promotion 

None

no promotion available at this time

Promotion 

Get up to $700

when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money.

Methodology

How do we review brokers?

NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgments on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).

For more details about the categories considered when rating brokers and our process, read our full methodology.

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