The world is slowly adopting the new virtual currency market which is indeed growing at an unimaginable pace. However, as the crypto market keeps getting the boost it requires, many cryptocurrency exchange apps have emerged in the virtual money market offering some mind-blowing gains. With so much variety, sometimes choosing what’s best for you is difficult. Recently, TD Ameritrade and Robinhood have been two popular platforms that people use, but the users want to know which of these is the best. So, if you have been wondering about Robinhood vs. TD Ameritrade, then do not worry, here is all you need to know about it.
Robinhood vs. TD Ameritrade
Details about TD Ameritrade -
TD Ameritrade is a well-known broker that offers its users an electronic trading platform. The company is known all over the globe and was founded in 1971. The platform allows the trade of assets including common stocks, preferred stocks, futures contracts, exchange-traded funds, forex, options, cryptocurrency, mutual funds, fixed income investments, margin lending and many more services. According to stockbroker.com, TD Ameritrade offers a better experience of trading tools offered by both platforms. Take a look at the details of the platform here:
TD Ameritrade fees -
- Trading Fees for TD Ameritrade
- Minimum Deposit: $0.00
- Stock Trades: $0.00
- ETF Trade Fee: $0.00
- Mutual Fund Trade Fee: $49.99
- Options (Base Fee): $0.00
- Options (Per Contract): $0.65
- Futures (Per Contract): $2.25
- Broker Assisted Trades Fee: $44.99
- Account Fees for TD Ameritrade
- IRA Annual Fee: $0.00
- IRA Closure Fee: $0.00
- Account Transfer Out (Partial): $0.00
- Account Transfer Out (Full): $75.00
- Returned ACH Fee: $25.00
- Returned Wire Fee: $25.00
- Stock Certificate Processing Fee: $0.00
- Stock Certificate Delivery Fee: $500.00
- Paper Statement Fee: $0.00
- Paper Confirmation Fee: $0.00
- Domestic Wire Fee: $25.00
- International Wire Fee: $25.00
Details about Robinhood -
Robinhood is a popular American financial services company that also has a famous app that allows the trading of stocks, ETFs, options, cryptocurrency, American depositary receipts for over 250 global companies and fractional shares. The platform is also known for giving a great experience for its mobile users. Apart from this, they specialize in individual taxable accounts, margin accounts, and cryptocurrency. Robinhood review mentioned that the platform is one of the great applications for beginners to start their journey.
- Account minimum: $0 for brokerage account and for Robinhood Gold account; $2,000 for a margin account (regulatory minimum)
- Stock trading costs: $0
- Options trades: $0
- Account fees (annual, transfer, closing, inactivity): No annual, inactivity or ACH transfer fees. $75 ACAT outgoing transfer fee. (Robinhood Gold costs $5 a month.)
- Tradable securities: Stocks, ETFs, Options, Cryptocurrency, American Depositary Receipts for over 250 global companies and Fractional shares
- Number of commission-free ETFs: All available ETFs trade commission-free.
- Number of no-transaction-fee mutual funds: None
- Trading platform: Web platform is purposely simple but meets basic investor needs.
- Mobile app: Mobile trading platform includes customizable alerts, news feed, candlestick charts and the ability to listen live to earnings calls.
- Research and data: News available from WSJ Markets, Reuters, Barron's, CNBC Business and Cheddar. Some access from Morningstar, Nasdaq, Nasdaq Totalview level II Market Data for an additional $5 per month.
- Customer support options (includes website transparency): Email and social media
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