Online brokerage services have existed for over 20 years. Trading investments today has never been cheaper. So while the race towards cheap trades (in some cases free) is happening, other functionality is becoming more important when selecting a stock broker.
For this review, I compare Robinhood and Stockpile. Which one is better depends on your needs? So let's examine the major features first.
We've determined with online brokerages the most critical feature customers care about is the
cost per trade. The second most important feature is the minimum deposit, and the last is if the broker
offers mutual funds. Let's look at how Robinhood and Stockpile
stack up against each other on these points.
To start, we will consider the minimum investment required for both applications. In
how much does one need to invest to use the service?
Both Robinhood and Stockpile have the same minimum of $0. So they are equal in this requirement.
Next I'll consider cost per trade for both brokers.
Out of the two, Robinhood is cheaper per trade at $0.00 than Stockpile at $0.99/trade.
Unfortunately, neither Robinhood and Stockpile offers mutual funds to purchase.
|Review||Robinhood Review||Stockpile Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Amount of Deals|
|Stock Trades||Free||$.99/trade or $2.99/first gift card stock + 0.99/additional stock|
|Investment Types||Stocks, ETFs, Cryptocurrencies||Stocks, ETFs|
|Access||Website, iOS App, Apple Watch, Android App||Website, iOS App, Android App|
|Broker Assisted Trade|
|No Fee ETFs|
|Sign Up||Sign Up|
If you think free stock trades are a fantasy, think again! Robinhood offers commission-free stock trades. No fees, really! If a free, simple, basic stock trading app with no extras sounds good to you, Robinhood might be the broker you’ve been looking for.
Stockpile is a unique stock broker that allows users to purchase small amounts of household-name stocks through gift cards. It's a great way to get young people interested in investing, although the costs can add up.