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Written By: Ryan Scribner on Mar 22, 2024
» 3 min read
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Robinhood vs Webull vs TD Ameritrade: Which Is Best?

In the ever-evolving landscape of online brokerages, investors are spoiled for choice.

Three major players in this space are Robinhood, Webull, and TD Ameritrade.

Each platform offers its own set of features, benefits, and drawbacks, catering to different types of investors with varying needs and preferences.

Let’s take a closer look at what sets them apart.

Robinhood

Robinhood stands out with its introduction of Individual Retirement Accounts (IRAs) featuring a 1-3% match on contributions. This unique offering provides an attractive incentive for long-term investors.

As a discount broker, Robinhood boasts some of the lowest costs in the industry, particularly excelling in options trading with no contract fees. There are no commissions for trading stocks and ETFs, making it a great choice for those seeking cost-effective trading options.

Robinhood remains one of the few platforms allowing free cryptocurrency trading, appealing to investors seeking diversified portfolios.

In addition, with its 24 Hour Market feature, Robinhood empowers users to place limit orders throughout extended trading hours, enhancing flexibility.

You can read our full guide about how Robinhood works here!

Where Robinhood Falls Short

  • The absence of mutual funds and bonds may hinder investors aiming for diversified portfolios, although bond ETFs are available.
  • In addition, while improvements have been made, Robinhood still lags behind competitors in terms of customer service quality and reliability.
  • Lastly, Robinhood has faced criticism for outages and trade restrictions during market volatility, raising concerns about platform stability.

Webull

Similar to Robinhood, Webull offers free stock and options trades as well as crypto trading within the app.

Webull’s platform caters to both novice and experienced traders, providing advanced charting, technical indicators, and customization options.

In addition to traditional assets, Webull recently expanded its offerings to include commodities and futures trading, appealing to a broader range of investors.

New to Webull? Check out my full tutorial below!

Where Webull Falls Short

  • Despite its robust trading tools, Webull falls short in providing comprehensive research and data resources when compared to TD Ameritrade.
  • Investors seeking the diversification benefits of mutual funds will need to look elsewhere, as Webull does not offer this asset class.

TD Ameritrade

TD Ameritrade Logo

TD Ameritrade stands out for its vast array of educational materials, catering to investors of all levels and helping them build market knowledge.

With a focus on innovation, TD Ameritrade offers a comprehensive suite of trading tools and resources, empowering investors to execute their preferred investment strategies.

Whether using the TD Ameritrade website or the thinkorswim platform, investors benefit from well-designed interfaces and seamless functionality.

Renowned for its top-notch customer service, TD Ameritrade ensures investors receive prompt assistance and reliable support.

While TD Ameritrade does not offer direct cryptocurrency trading, it provides robust options for trading stocks, ETFs, mutual funds, bonds, futures, and forex, making it a powerhouse for diversified portfolios.

As TD Ameritrade continues its integration with Charles Schwab, investors should be aware that some services or platforms may evolve. This integration could potentially lead to changes in trading options or customer support.

Where TD Ameritrade Falls Short

  • Unlike some competitors, TD Ameritrade does not offer fractional share trading, limiting accessibility for investors with smaller portfolios.
  • While indirect exposure to cryptocurrencies is available, investors looking for direct crypto trading options will need to explore alternative platforms.
  • As TD Ameritrade undergoes integration with Charles Schwab, investors face uncertainty regarding potential changes to the platform and services.

Feature Comparison

Feature Robinhood Webull TD Ameritrade
Commission-Free Stock Trading Yes Yes Yes
Retirement Accounts Roth & Traditional IRA IRA Multiple IRA and Retirement Options
Cryptocurrency Trading Yes Yes No Direct Trading
Fractional Shares Yes Yes No
Mutual Funds & Bonds No Mutual Funds, Bond ETFs Available No Yes
Customer Service Limited Limited Excellent
Trading Platforms & Tools Basic Advanced Advanced (thinkorswim)

Customer Service and Reliability

TD Ameritrade stands out for its superior customer service compared to Robinhood and Webull, which have more limited support options. This is crucial for investors who require prompt assistance and reliable support.

Conclusion and Recommendations

Choosing between Robinhood, Webull, and TD Ameritrade depends on your specific investment needs and preferences. If you prioritize low costs and a user-friendly interface for basic trading, Robinhood might be ideal. For those seeking advanced trading tools and cryptocurrency options, Webull is a strong contender. TD Ameritrade offers a comprehensive suite of trading options and superior customer service, making it suitable for experienced investors seeking a wide range of asset classes and robust support.

Article written by Ryan Scribner
Ryan Scribner is the Co-Founder of Investing Simple and author of From Side Hustle To Main Hustle To Millionaire. He is also a host on the NerdWallet YouTube Channel and runs a successful personal finance YouTube channel he launched in 2016. Ryan has been featured in The Wall Street Journal, MarketWatch, Business Insider, and Forbes, which named his channel the #1 Must-Watch YouTube Channel for Making Money. Recognized as a Top 100 Money Expert by GoBankingRates, Ryan shares insights based on his own investing journey to help others build wealth.

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Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood
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