Option trading on robinhood
Founded in by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, robinhood column, radio show, and premium investing services. Searching for a brokerage account? You've probably discovered there are many options, with varying commission schedules, investment availability, and account minimums. Today, though, we'll simplify the search and help you compare two popular discount brokers, Robinhood and TradeKing, to see if either choice is a good fit for your portfolio. Robinhood is an anomaly in the brokerage industry because it doesn't charge commissions, whereas every other broker including TradeKing does. But price isn't everything, and you'll see that discount brokerages of all types make investing much more affordable today than it used to be. Though the differences may appear stark, they're really quite small in simple terms of dollars and cents. Furthermore, a broker's published commission schedule is usually the highest cost you can expect to pay. Many brokers offer commission-free trades on select investments. Option addition, we'd encourage you to explore special offers for brokerage accounts as well as offers for IRA accountswhich can actually result in a situation where your broker effectively pays you to open an account. Brokerages are increasingly using commission-free ETFs and no-transaction-fee NTF mutual funds as an incentive to sign up with their robinhood. The value of these perks is not insignificant -- if you like funds, shopping for commission-free and NTF funds could save you thousands of dollars over time. All trades stocks and ETFs are free on Robinhood. Depending how important funds are to your portfolio, you could make the case for either brokerage. Robinhood and TradeKing are no-minimum brokerages, meaning they allow investors to open an account without making a certain minimum deposit. That said, try to start with more than just the bare minimum -- you'll need to deposit enough cash to afford to buy stock, ETFs, or mutual funds to actually make your first investment. Ever since the dawn of the discount brokerage industry, traders have been arguing about which brokerage has the best trading platform. As long-term investors, we at The Motley Fool prefer annual reports and conference calls to candlestick charts and Bollinger bands, so we tend not to worry too much over trading platforms. We just don't think platforms are that important for long-term investing. From our perspective, the biggest difference between platforms is that Robinhood is a mobile-only service, whereas TradeKing offers mobile and desktop trading platforms. If a trading platform is of particular importance to you, then it's worth exploring each platform for yourself to see how it works for your needs. If you'd like to invest internationally, the differences between Robinhood trading TradeKing may be of particular importance. The majority of online brokers allow you to invest in foreign companies, subject to some limitations. Robinhood and TradeKing both fall in line with the rest of the industry here. American depositary receipts ADRs. Let's start first with funds. Both brokerages offer the ability to trade American ETFs that hold foreign stocks, but only TradeKing offers the ability to invest in mutual funds made up of foreign stocks. As for individual companies, there are some important differences. Robinhood offers its clients the opportunity to trade some ADRs. However, neither brokerage currently enables their clients to trade directly on foreign exchanges. In fairness, only a few brokerages offer that capability. We tend to think that self-directed investors can benefit from being able to get insights and analysis and consider a wide range of investment opinions. Robinhood doesn't currently offer research access for having a brokerage account, which is a trade-off that investors should balance with the fact that it doesn't charge commissions. If you have access to the internet on a phone or tablet, you can make a trade with Robinhood or TradeKing. Here's how each broker's users and clients rated their iOS and Android apps as of Dec. Depending on your particular portfolio, you could find either brokerage to be a good fit. Robinhood offers commission-free stock and ETF trades, but doesn't offer the ability to trade options or invest in mutual trading. TradeKing charges commissions, but offers a wider range of investment choices, option addition to free research capabilities just for having an account. Ultimately, there isn't a single brokerage that is the best broker for every type of investor. What really matters is how any broker fits with the needs of your investment style. The Motley Fool does not endorse any particular broker, but we do have some resources that might help you in your hunt. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. Jordan is trading value investor who believes incentives matter. Moats, floats, and compelling valuations. Skip to main content Option Motley Fool Fool. Premium Advice Help Fool Answers Contact Us Login. Latest Stock Picks Stocks Premium Services. Stock Advisor Flagship service. Rule Breakers High-growth stocks. Income Investor Dividend stocks. Hidden Gems Small-cap stocks. Inside Value Undervalued stocks. Learn How to Invest. 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