Tastyworks vs Robinhood

tastytrade vs Robinhood Comparison Table 2024
tastytrade	Robinhood
Review 3	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.

tastytrade is an award-winning brokerage, launched in 2017. The brand specializes in futures, options and stock trading with US and Australian regulatory oversight. The proprietary trading interface, designed by the creators of Thinkorswim, is powerful with plenty of integrated tools to suit active traders.	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.
Customer Reviews
	1 Based on 1 Robinhood customer reviews
Comment by Reviewer
"tastytrade is a good choice for investors looking for low-cost, multi-asset trading opportunities. Experienced traders in particular will appreciate the comprehensive analysis tools and advanced trading technology."	"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."
Pros
Transparent pricing model including a $1 commission on stocks and ETF options, with maximum limits per leg for some assets Wide range of asset classes including options, futures, stocks, ETFs and indices with the majority available to trade 24/5 Good choice of account types suitable for various investment goals including IRAs and individual/joint trading accounts Powerful proprietary platform with detailed insights, real-time trading videos, and order adjustment features Excellent regulatory oversight from FINRA, NFA and ASIC with SIPC insurance for US clients	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
Cons
Less suitable for beginners with no demo account and basic educational resources Narrow range of instruments with no forex trading No credit/debit card payments USD base currency only No 529 plan	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
Instruments
Stocks, ETFs, Cryptos, Futures, Options	Stocks, ETFs, ADRs
Demo Account
No	No
Minimum Deposit
$0	$0
Trading Platforms
Own	Robinhood Platform
Payment Methods
ACH Transfer Automated Customer Account Transfer Service Wire Transfer	ACH Transfer Apple Pay Automated Customer Account Transfer Service Credit Card Debit Card Google Wallet
Minimum Trade
	$1
Regulator
SEC, FINRA	SEC, FCA
Margin Trading
Yes	No
Margin Rate
	2.5%
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	No
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
Yes	No
Guaranteed Stop Loss
No	No
Inactivity Fee
	$0
Islamic Account
No	No
Account Currencies
	USD
Stock Exchanges
S&P 500
Cryptocurrency
tastytrade offers a small selection of cryptocurrencies, available to trade as long positions only. This includes Bitcoin, Ethereum, Litecoin and Dogecoin. But with a narrow suite of digital currencies, it isn't the best pick for high-volume crypto traders.	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.
Spread
Variable	0%
Coins
BTC ETH LTC DOGE	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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