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Robinhood vs Futu

Robinhood vs Futu Comparison Table 2024
Robinhood Futu
Review
0.9
We do not recommend trading with Robinhood. Their business practices have harmed traders and their "free" trading offer has been criticized for actually costing their traders millions of dollars.
Review
2.7

Robinhood is a stock broker and financial services firm based in California. The broker offers commission-free stocks, cryptos and ETFs, plus other products such as cash cards and retirement accounts. Despite its robust regulation, Robinhood has been involved in numerous scandals and security breaches since 2020. We urge investors to exercise caution.

Futu is a NASDAQ-listed brokerage established in 2012. The fintech firm offers multi-asset trading opportunities on two proprietary platforms; Futubull and moomoo. Futu holds licenses with 20+ authorities including the ASIC, NFA and SFC. An impressive 15 million customers trade with Futu.

Customer Reviews
1
Based on 1 Robinhood customer reviews
Comment by Reviewer
"Robinhood is aimed at traders looking for stocks and crypto investing opportunities with additional perks. However, the brokerage's recent business practices mean the brand isn't a good option if you want a reliable and trustworthy broker." "Futu is best for investing in Hong Kong, Chinese and US stock markets with transparent pricing. The broker is trustworthy with strong regulatory oversight and multiple awards."
Pros
  • Intuitive mobile trading app with 24/7 live support and in-app stock market news
  • Robinhood's 'Snacks' newsletter offers bite-sized financial news updates suitable for beginners
  • Interesting podcast hosted by the CEO and co-founder, covering topics such as blockchain and financial empowerment
  • Robinhood Cash Card offers weekly bonuses invested into stocks, as well as cashback on popular brands
  • Reputable brokerage listed on the NASDAQ and registered with tier-one regulators
  • Extensive list of investments including stocks, options, ETFs, warrants, bonds and IPOs
  • Transparent pricing model with no commission fees to trade HK stocks & ETFs and free market data
  • Easy-to-use proprietary trading platform with desktop software, browser compatibility and a mobile app
  • Regulated worldwide with segregated client funds, ISO27001 security credentials and investor compensation schemes
  • Investor backing from several corporations including Tencent Holdings
  • NiuNiu community-based platform with NiuNiu Classroom education access
  • Pre-IPO trading hours access
Cons
  • Limited research and education tools compared to top-rated brokers like IG
  • Previous lawsuits and negative press surrounding the firm's controversial business practices
  • Despite the actual app showing quote data in real-time, data may be delayed by up to 20 minutes
  • Robinhood does not support advanced order types or options trades, while limit orders are collared up to 5%
  • Concerning history of security breaches
  • Limited number of payment methods with no e-wallets such as Skrill, Neteller or PayPal
  • High minimum deposit requirement of HKD 10,000 or USD 1,500
  • No live chat support available
  • Forex trading not available
  • No MT4 or MT5 access
Awards
  • HKEX - Business Innovation Information Vendors 2017
  • HKEX - Rising Information Vendor of the Year 2016
  • KPMG - China Leading Fintech 50 (2017/2016)
  • Bloomberg - Best Online Broker 2017
  • CB Insights - CB Insights’ Fintech 250 (2018/2017)
Instruments
Stocks, ETFs, ADRs Stocks, ETFs, IPOs, CBBCs, iBonds, Options, Warrants
Demo Account
No Yes
Minimum Deposit
$0 $1500
Trading Platforms
  • Robinhood Platform
  • Own
Payment Methods
Minimum Trade
$1 0.01 Lots
Regulator
SEC, FCA SFC
Margin Trading
No Yes
Margin Rate
2.5% 4.8% - 8.8%
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
No Yes
Mobile Apps
iOS & Android iOS & Android
Auto Trading
No
Copy Trading
No No
Social Trading
No No
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0
Islamic Account
No No
Account Currencies
  • USD
Cryptocurrency
Access 18 crypto assets through the Robinhood app with no commission fees, including access to Bitcoin. On the negative side, the selection is not as wide as other brands and security is weak. Crypto trading not offered
Spread
0%
Coins
  • BTC
  • ETH
  • BCH
  • LTC
  • SOL
  • DOGE
  • BTG
  • OMG
  • XMR
  • QTUM
  • DASH
  • XRP
  • XLM
  • ZEC
  • NEO
  • LSK
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Review
Review
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