Robinhood vs.

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Contributor, Benzinga
June 14, 2023

Review Robinhood vs. to make the best decision for your trading strategy!

Two very different brokers for different trader demographics are the focus of this comparative Benzinga review. Robinhood was one of the first online brokers to offer commission-free trading of listed stocks and options, while is the largest U.S. forex broker and makes spot forex and precious metals trading available to U.S. clients. Both brokers maintain excellent reputations in their respective fields, so read on to find out which broker best fits your needs. 

Disclosure: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What is Robinhood?

Robinhood is a trading app that allows users to invest in stocks, ETFs, options, and even cryptocurrency without having to pay any commission fees. The app was founded in 2013 by two Stanford University graduates and has since become one of the most popular investment apps on the market, particularly among younger generations.

What makes Robinhood popular is its user-friendly interface and accessibility. Users can easily sign up for an account, link it to their bank account, and start investing with as little as $1. The app also offers educational resources and market data to help users make informed decisions about their investments.

However, it's important to note that Robinhood isn't without controversy. Some critics argue that the app encourages risky trading behavior due to its commission-free model and easy accessibility.

What is is a leading online currency trading platform that provides its users with access to the global financial markets. The platform allows traders to buy, sell, and exchange currencies from around the world without having to physically possess any currency. You can also trade options contract, futures and gold and silver. offers a wide range of tools and resources to help traders manage their investments and stay up-to-date on market trends. The platform is user-friendly and allows traders to easily execute trades and monitor their portfolios from anywhere in the world. With its advanced trading technology and customizable interface, is a preferred choice for traders of all levels – from novice to experienced. offers a comprehensive and reliable online trading experience that is trusted by traders all over the world. provides the resources and support you need to make informed decisions and achieve your financial goals.

Robinhood vs. Fees

Since Robinhood and focus on different markets, their fees and commissions are difficult to compare. The trading costs associated with both brokers are outlined below.

What Robinhood Offers

Robinhood offers commission-free trading in stocks, stock options and exchange-traded funds (ETFs). Robinhood also offers cryptocurrency trading, although you must leave all of your coins with Robinhood. This means you cannot withdraw your coins to your own private wallet or hold the keys to your crypto assets. 

For a $5 monthly fee, you can opt into a Robinhood Gold account, which lets you trade in a margin account with a $2,000 minimum deposit. The highest fee charged at Robinhood is a $75 outgoing account transfer fee that you’ll need to pay if you want to transfer your account to another broker. This fee can be avoided by liquidating all of your positions and having Robinhood transfer the resulting funds to your bank. 

What Offers does not support trading in stocks, stock options or ETFs, but you can trade spot gold and silver in addition to 80 forex currency pairs. does not charge commissions on transactions either. The online forex broker instead makes its money on a forex trade via the dealing spread. The dealing spread consists of the difference between the bid and the offer exchange rate for a currency pair. The tighter the spread, the more advantageous to traders. 

The cost of your forex trade can be determined by the “mid-point spread cost,” which is the midpoint of the dealing spread at the time of your transaction compared to the rate you dealt at. During markets where extreme volatility is at play, dealing spreads can widen considerably and can thereby result in a higher mid-point spread cost for your trades. 

Furthermore, stop-loss orders triggered in a fast market may also be filled at a significantly worse rate than the level specified, which is known as “slippage” and represents another potential trading cost. Holding overnight positions can also result in rollover charges, while the broker charges an inactivity fee of 15 accounting currency units after 12 months. 

Better Platform: It Depends

You pay only the dealing spread in transaction fees at both brokers. The best platform will therefore be Robinhood if you want to trade stocks, stock options or ETFs, while it will be if you want to trade spot forex or precious metals. 

Robinhood vs. Mobile App

Robinhood’s platform was initially released as a mobile app, while developed its mobile app from its desktop version. Robinhood now offers a desktop version of its app, so you can trade from your desktop as well as your mobile device. Both mobile apps provide traders with a solid platform to trade from. 

What Robinhood Offers

Robinhood’s mobile app is available for Android and iOS devices and has been carefully designed for simplicity and ease of use. You can access candlestick charts, a news feed and customized alerts via the app. In addition, you can listen in live to companies’ earnings calls. 

While the Robinhood mobile app may not include some of the more advanced features of other mobile stock trading apps, the app is more than adequate for stock, options and ETF traders who want timely trade execution.

What Offers

The mobile app is considered among the best of its kind and is available for Android and iOS mobile devices. The app features real-time order alerts, advanced charting and analysis tools, risk management options and integrated fund management. In addition to the broker’s proprietary mobile app, you have the option of downloading the free MetaTrader 4 or 5 (MT4/5) mobile trading app with all the advanced features found on popular trading platforms. 

The app also features a Reuters news feed, comprehensive market analysis and economic calendars. You can also personalize the navigation bar and dashboard, as well as set up watchlists and alerts. In addition to market and limit orders, you can enter trailing stop orders and conditional orders like one cancels the other (OCO) orders.  

Better Platform: 

The mobile platforms offered by offer considerably more features and research options than Robinhood, which only offers one basic mobile platform.  Nevertheless, if you want to trade stocks, stock options or ETFs, you’ll want to use Robinhood, while you’ll use if you want to trade spot forex or precious metals. 

Robinhood vs. Customer Support

Access to live and reliable customer support can be extremely important if you trade in volatile markets, as the recent dramatic moves in both the stock and forex markets have highlighted. If you have an issue on a trade, then direct communication with your broker could save you a lot of money if the problem is dealt with promptly. 

What Robinhood Offers 

At Robinhood, customer service is limited to email contact, with no live chat or even a phone number where you can get a real person. 

While a phone number for Robinhood’s office in Menlo Park, California, was obtained after considerable research, the number answered with a message referring the caller back to the website or mobile app for additional support.

Robinhood’s customer support is therefore limited to emailing the broker with the details of your concern or reviewing its extensive frequently asked questions (FAQ) page where you can select a link to read information about an issue.

What Offers’s customer support lets you contact the broker via email and live chat. While no direct phone number was found on its website, you can contact through its live chat feature 24 hours a day during the trading week from 10 a.m. Sunday until 5 p.m. Friday EST.

Better Platform:

Although neither broker offers a direct phone line to their customer service departments at present, at least gives you a live chat option, which is more than you can get at Robinhood. Both brokers offer extensive FAQ pages, but Robinhood’s limited customer service options make the winner in this category. 

Robinhood vs. Ease of Use and Robinhood’s platforms are both intuitive and easy to use, although they are directed to different types of traders. They are both good choices in their respective domains. 

What Robinhood Offers

The Robinhood app can be learned and used quickly by new and seasoned traders alike.  The broker’s app also lets you upload your information and get started trading in very little time after you’ve deposited some funds into your account. 

What Offers

The proprietary and MT4/5 platforms are both quite easy to learn and use. You also have the option of opening a demo account with, which allows you to trade with virtual money in case you wish to practice trading. 

Better Platform: Robinhood

The simple Robinhood app is easier to navigate initially, but’s support for the MT4/5 platforms and its own proprietary platform offers more features and options than Robinhood. Again, choose the broker that offers the assets you want to trade. 

Robinhood vs. Accounts and Features

What Robinhood Offers

Robinhood lets you trade stocks, stock options and ETFs in your trading account but does not offer staff to assist you with your trades. Your account choices at Robinhood are limited to its free basic account and its Gold Account that costs $5 per month and lets you trade on margin. 

What Offers lets you trade over 80 currency pairs in the foreign exchange market and spot gold and silver in your trading account. If you’re interested in trading futures and options on futures, you can open an account with its FuturesOnline affiliate. In addition to its proprietary trading platforms, you can use the popular MT4/5 platforms with 

You can open 3 types of accounts at 

  • Standard account: The free basic forex account offers competitive dealing spreads and no commissions. You also have the opportunity to reduce costs by as much as 18% via cash rebates.
  • Commission account: This commission account features spreads as low as 0.2 on EUR/USD. Trades cost $5 commission per 100,000 base currency units traded. You cannot use MT4/5 with this account type. 
  • STP Pro account: This premium account requires a $25,000 initial deposit and a minimum trade size of 100,000 to get direct access to top forex liquidity providers with multiple levels of real-time pricing. MT4/5 is also not supported.    

Better Platform:

Both brokers offer their clients features appropriate for the markets they service, although has a wider variety of account types that can better suit different traders. 

Overall Winner: wins here primarily because of its better customer support, account types and apps, although due to the fact that the brokers reviewed here service different markets, they are not directly comparable. 

In general, stock, stock options and ETF traders will find Robinhood the better choice, while forex and spot metals traders will want to select 

  • securely through's website
    securely through's website
    Best For:
    Forex Trading
    Read Review

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

  • securely through Robinhood's website
    securely through Robinhood's website
    Best For:
    Read Review

Frequently Asked Questions


Can I do forex, futures or commodities trading with Robinhood?


Robinhood does not offer forex, futures and commodities trading.


Are there trading limits on Robinhood?


You can make only 3 stock trades per week.


Is a good broker?

A is an excellent broker option for foreign exchange traders.

Get a Forex Pro on Your Side, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets plus spot metals with low pricing and fast, quality execution on every trade. 

You can also tap into:

  • EUR/USD as low as 0.2 with fixed $5 commissions per 100,000
  • Powerful, purpose-built currency trading platforms
  • Monthly cash rebates of up to $9 per million dollars traded with’s Active Trader Program

Learn more about’s low pricing and how you can get started trading with