15 Best Robinhood Alternatives [2022 Guide] | Coinprompter (2023)

February 4, 2021

15 Best Robinhood Alternatives [2022 Guide] | Coinprompter (1)

What a difference a week can make in the world of stocks and shares. Stocks and shares investing platform, Robinhood, has brought into question the meaning of the term ‘free market’ following the app’s attempts to restrict the movement of Reddit users from buying shares in GameStop.

The unprecedented action occurred as Reddit group, WallStreetBets, crowdsourced the mass purchase of stocks in GameStop when hedge funds had taken out short positions in the firm – effectively banking on falls in share prices.

The move aided the Reddit users in making huge gains in their GameStop shares, with stocks rising by as much as 131% in a single day. However, the hedge funds and other investors holding shorts against the company are estimated to have lost out on over $19 billion.

In the fallout of this coordinated mass investment, trading app Robinhood limited users’ ability to purchase shares in GameStop in a move that appeared to support the hedge funds.

The ironic defence of hedge funds emanating from an app named ‘Robinhood’ prompted a widespread backlash across the internet. The app was bombarded with so many one-star reviews that Google was forced to act in deleting them as they arrived.

(Video) How To Make Money On Robinhood In 2023 (For Beginners)

The saga between Reddit users, GameStop stocks, and the hedge funds that were outmanoeuvred by WallStreetBets carry some of the hallmarks of a real-life Robin Hood story, so let’s take a deeper look into 15 trading alternatives that appear to respect the free market rather than seek to restrict it:

1. TD Ameritrade

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TD Ameritrade is a highly-resourceful platform that requires a $0 minimum investment and offers a leading array of features like extensive research and data, great portfolio-building guidance, $0 commissions for stock, options and exchange-traded fund trades and nearly 300 brick and mortar branches around the US for in-person customer service.

One of TD Ameritrade’s best assets is its full range of investments offered, including futures, forex and Bitcoin futures trading for approved clients.

There’s also a broker’s selection of over 4,000 no-transaction-fee mutual funds which is either equal to or in excess of what’s offered at other reputable brokers like Charles Schwab and Fidelity.

TD Ameritrade is also great at offering low-cost and low-minimum funds, with over 700 mutual funds on its platform with expense ratios of 0.50% or less, and over 1,300 with investment minimums of $100 or less. This means that the platform makes for an excellent broker for beginner fund investors.


15 Best Robinhood Alternatives [2022 Guide] | Coinprompter (3)

While E*TRADE has been an online brokerage trendsetter that’s been held back by excessive commissions over the past decade, in 2019 the platform joined a majority of brokers in cutting equity and per-leg options commissions to $0.

The brokerage offers three computer-based platforms and two fully functional smartphone apps that can appeal to a range of investing styles and interests. Its web platform at etrade.com has recently undergone a makeover with user experience becoming a driving force for the company.

E*TRADE offers fully integrated options tools within its platform thanks to the company’s recent acquisition of former rival, Options House. For more experienced traders, the brokerage even offers its downloadable platform, E*TRADE Pro, a service that streamlines real-time data alongside industry-leading charting tools.

3. Fidelity

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Fidelity has evolved to become a key player in the online brokerage landscape. Fidelity’s services have been a winner at Investopedia’s 2019 and 2020 Best Online Brokers Awards, and the firm appears to be continually looking for ways to lower costs to investors while improving the quality of their services.

In October 2019, Fidelity joined its competitors in cutting its equity and base options commissions to zero, but still continues to deliver high-quality research and education offerings to its clients. The Firm also makes it straightforward for investors to earn interest by converting uninvested cash into a money market fund.

Although Fidelity’s website looks a little old fashioned at first glance, don’t be deceived by its power. This platform is one of the most advanced and innovative brokerages online.

Fidelity is already one of the largest brokers in the US, and is designed to make stocks and shares accessible for the vast majority of individual investors. For the typical buy-and-hold investor, Fidelity is a highly functional and well-balanced platform that offers a suitable volume of tools to navigate the markets.

However, the platform is also scalable, and for more advanced traders, Fidelity offers Active Trader Pro, a downloadable program with real-time data streaming and customizable user interfaces.

4. eToro

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The true draw of eToro is its user-friendly interface filled with clear colour-coordinated charts and graphs to show investors where movements are taking place

One of the biggest features of eToro lies in how individual traders can implement copy trading. The platform features traders who want to be copied and those who follow risk-control rules. This level of accessibility then enables retail account holders to follow the trades and strategies of the most successful clients on the platform – both as they conduct their business and without the need of physically agreeing on any trade. Of course, it’s worth noting that copy-trading doesn’t come with any guarantees towards profits or losses for users.

(Video) Best Robinhood Alternative In 2022 - For Cryptocurrency Trading - $100k

eToro makes for a great platform that welcomes newcomers into trading – whether it’s for stocks, shares or cryptocurrencies. While its customer service isn’t always the most attentive, there are great features available for residents both inside and outside of the US to enjoy.

5. Acorns

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Acorns is an all-in-one financial wellness and investment app that makes it easy for users to save and invest.

While Acorns features a functional app that can rival that of Robinhood, this platform deals heavily in micro-savings. However, the app does much more than simply invest your spare change.

Users can turn to Acorns to invest in their retirement, create a checking account and set up a custodial investment account for their children as well as many more services.

Although Acorns started as an app, it’s also available as a web-based version for desktops and tablet users.

By linking their credit card and checking account, Acorns can automatically round up the purchases that users make to the nearest whole number and pull the difference from their account into a checking account. The service then automatically invests the money and allows the user to access their earnings.

Acorns is certainly a great entry point into the world of investments for anybody who needs a little bit of guidance before getting started in the industry. Although the stocks in which money is allocated is generally done automatically, the app utilizes a team of experts to ensure that the money coming into portfolios are well managed.

6. Public.com

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Public has turned the buying, selling and owning of stocks into something that just about anyone can do and understand. Where many of us still see the stock market as a mysterious beast that’s untameable for smaller investors, Public seeks to simplify the process of buying into companies and holding money in stocks.

With Public, users can simply own a piece of a company that they believe in for any amount of money that they wish.

The service offered by Public is enhanced by a very user-friendly companion app and some simplified and easy-to-follow visualisations. In the image above, we can see that the platform also looks to provide simple summaries regarding specific stocks – notifying users on the level of risk associated with specific stocks.

Again, Public is an excellent platform for users who are either new to the world of stocks and shares or who are simply looking to invest small amounts of money into a company that they like.

7. Ally Invest

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Ally Invest is part of a diversified financial services company that includes banking, lending and an online brokerage that was formally known as TradeKing.

This platform is primarily focused on providing tools that are convenient and easy to use at a more affordable price than its rivals – all geared towards a more millennial user base. However, Ally Invest’s inherited customer base have been finding fewer resources for options analysing and trading while the platform has spent more time on adding services for buy-and-hold investors.

Development efforts for Ally are geared towards removing technological walls between banking and investing features, with more attention paid towards customers who are new to the world of investing. However, this has meant that the platform still has some legacy options for traders dating back some years.

Despite being a platform that’s undergoing something of a transition, Ally Invest is still a great platform for young investors who may not be naturally familiar with the world of stocks and shares. With a highly intuitive app and great usability, Ally is definitely a platform to keep track of.

8. WeBull

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(Video) What Investing $5 a Day Looks Like After 1 Year (Robinhood Portfolio)

Webull offers a unique community experience and an easy to use trading platform to boot. The platform is certainly designed with younger investors in mind, but for everyday investing, the brokerage may lack the trading tools and features to compete toe-to-toe with its rivals who also offer $0 stock and ETF trades.

Much like Robinhood, Webull attracted a loyal customer base because of its ease of use and its early commitment to offering $0 trades to users.

Because of its similarities to Robinhood, Webull makes for a natural transition to any users who have become accustomed to Robinhood’s vibrant community and features. In fact, Webull outpaces Robinhood in the features department and although it’s not an industry leader, the platform’s visualisations and ease of use make it a brokerage that’s packed with potential.

9. Cash App

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As we can perhaps see from Cash App’s extremely busy and engaging website, this is a platform that’s once again angled towards delivering investment services to younger and perhaps more inexperienced investors.

Cash App allows users to pay friends and invest sums of money into stocks or bitcoins in a manner that can be much easier than its competitors. In Cash App’s framework lies a platform that’s capable of competing with Venmo and PayPal as an on-the-go financial hub. However, it’s actually not possible to pay online or real-world merchants directly through the app – only a user’s contacts.

The app doesn’t yet have the user base to effectively challenge its rivals in the industry, which is a problem because to pay someone, they have to be using Cash App too. However, the platform is well-equipped with a great micro-investing platform that allows users to put their spare change into stocks. That, along with cash card discounts and the potential of $Cashtags mean that Cash App could evolve into one of the industry’s most essential platforms in the near future.

10. Betterment

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Betterment is a pioneering platform in the world of robo-advisory and is one of the first to use technology to recommend a portfolio and automate the investment process for users.

This platform isn’t a pie-in-the-sky startup with lofty ideas either. Betterment was founded in 2008, and since then the firm has added additional asset classes and cash management products to build a significantly resourceful product for customers.

Betterment’s platform is highly intuitive, user-friendly and filled with educational resources – making it a top choice for starters. Betterment also offers tax-loss harvesting for all accounts, regardless of their size, and a multitude of checking and savings account options for users – making it one of the best options out there if you’re looking for better cash management.

11. Wealthsimple

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Launched in Canada in 2014, Wealthsimple provides algorithmic investment and savings programs for clients both domestically, in the US, and in the UK, too. New clients can transfer taxable and retirement accounts or deposit funds into new accounts.

The account minimum to get started with Wealthsimple is $0, which makes it easy for new investors to begin saving. Notably, a small pool of low-fee ETFs (for Canadian or US residents) or mutual funds (in the UK) is used to populate portfolios that are further customized by the information supplied by users.

Interestingly, in the summer of 2020, Wealthsimple launched a cryptocurrency trading platform for its Canadian customers that’s separate from the company’s algorithmic trading functions. This allows Canadian investors to broaden their investment options and enter the world of cryptocurrencies if they so wish. Although only Bitcoin and Ethereum have been made available at launch, the firm plans to expand its offerings in this area over the coming months and years.

12. SoFi

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SoFi is an investment platform that’s ideal for beginner investors who are looking for a comfortable and straightforward avenue into the world of investing. The platform, which is also available in the form of an app, has no minimum amount to open an account so even if investors don’t have much to enter the world of stocks and shares with, there’s still plenty of room to get started.

SoFi Invest is a strong option for users who also have SoFi accounts. This is because SoFi makes it easy for users to move money between their investment account and their SoFi Money account.

For advanced investors, the features offered by SoFi may prove to be a little bit limiting, as the platform doesn’t offer stop-loss orders or tax-loss harvesting. However, if you’re simply aiming to get started in the world of investing, SoFi is a highly resourceful platform that offers plenty of strong visualisations that are easily accessible in app form. The platform also offers complimentary access to Certified Financial Planners should any questions or concerns arise.


It’s important to note that SoFi is currently only accessible to users in the United States, so if you’re looking to start your investment journey elsewhere, it’s worth exploring your options further.

13. M1 Finance

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M1 Finance delivers a combination of automated investing tools and a high level of customization that you’re unlikely to see elsewhere across the investing landscape. This allows clients to create a portfolio that’s tailor suited to their precise specifications. However, it’s important to note that this is not an advisory service.

Today, M1 Finance has more than $2 billion in assets under management and half-a-million clients. The customization services offered by M1 Finance makes it a leading tool for more experienced investors to better track their portfolios. The platform also doesn’t charge any portfolio management or trading fees – or any fees for deposits or withdrawals to a connected bank account for that matter.

This platform allows users to create portfolios containing low-cost ETFs or use individual stocks – or even both at the same time. M1 Finance’s platform has been developed for customers with industry experience in mind and positions its services as a lower-cost alternative in which they can utilize fractional share transactions and exhibit a larger level of control over their portfolio contents. The key appeal for M1 Finance is that, unlike with other platforms, users don’t have to give up the control of their portfolios in exchange for quality management services.

Using M1 Finance, it’s possible to choose one of over 80 pre-built, expert portfolios or construct your own. You’re also able to build pie charts to better visualize your asset mixes within your portfolio and keep them balanced to your specifications.

M1 Finance’s offering promises a greater level of flexibility and control over the assets they own within a platform that includes stock and ETF screeners to help with better investment selection.

14. Moomoo

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Moomoo has been developed as a next-generation brokerage. The platform is designed to cut out the costs of operating traditional branches and the various excesses of brokerage firm overheads and deliver better value to users in the process.

Combining technology with on-the-go trading, Moomoo aims to offer an enhanced trading experience by combining the latest technology and encompass it in a user-friendly mobile app.

Moomoo certainly looks like a strong competitor when it comes to value and usability. However, newer investors may be a little overwhelmed by the sheer volume of tools available for investment insights.

The app itself appears to be tailored towards users to are looking to take a more hands-on approach to investment management, and it offers real-time data, advanced charting features, intuitive graphs and much more visualizations in order to make it easier than ever to place trades.

Another popular feature that Moomoo uses revolves around paper trading. This allows users to take the platform for a test run without any risk to their capital, learning the ins and outs of the platform as they go.

15. Schwab.com

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Schwab is one of the biggest names in the online brokerage space and it’s only getting bigger judging by the company’s recent acquisition of TD Ameritrade. Due to its sheer size and reach, Schwab is able to offer investors a huge volume of services and tools including a highly intuitive mobile app.

Over the recent past, Schwab looks like it’s encouraging its customers to work with advisors more frequently – whether they’re human or automated, as opposed to managing their own personal investments. However, self-directed traders and investors can still enter the world of stocks and shares on their own by utilizing the StreetSmart Edge and Trade Source platforms offered by the brokerage. Schwab also welcomes futures traders to its platform too – a quality that isn’t typically matched by other brokerages – although it does make them play on a separate platform.

One of the biggest changes in Schwab is its recent elimination of fees. Despite this significant change to its business model, the loss of fees looks as though it won’t hurt the company’s bottom line – Schwab makes the large majority of its income through uninvested cash that costumers have in their accounts. This means that users can rest easy knowing that the platform will continue to innovate and provide resourceful solutions long into the future.

The most vital thing to remember about stocks and shares is that it’s a free market. Robinhood’s move to restrict the movement of its users may have been a PR disaster, but it highlighted the strength of an industry that’s embracing developing technology and turning it into intuitive services for investors.

If the quality of Robinhood’s alternatives is anything to go by, the future of investing will not only be bright, but better integrated and more accessible. With many platforms combining traditional stocks with cryptocurrencies like Bitcoin and on-the-go accessibility, soon even the most inexperienced of traders can have comprehensive portfolio management functionality at their fingertips.

(Video) Why I Cancelled Robinhood


What is a good alternative to Robinhood? ›

Robinhood Alternatives:
  • E*Trade.
  • Webull.
  • TradeStation.
  • SoFi.
  • TD Ameritrade.
  • Moomoo.
  • M1 Finance.
  • Public.

Who are Robinhood's biggest competitors? ›

Robinhood's top competitors include eToro, PocketNest, and Slingshot. eToro is a social investment network that allows users to invest, and enhance their financial education. It makes trading accessible to anyone, anywhere, and reduces de…

Is Moomoo better than Robinhood? ›

Both Moomoo and Robinhood offer commission-free trading for stocks, ETFs, and options. Additionally, both platforms make trading and investing accessible to many people. Although Moomoo might be better suited for those at the intermediate and advanced levels, even beginners can use the app with relative ease.

Why don t investors like Robinhood? ›

Robinhood provides a bare-bones trading experience, making it a poor choice for investors seeking the best trading platform. Also, Robinhood's stock research tools are lacking when compared to $0 commission brokers such as E*TRADE, Charles Schwab, and Fidelity.

Why is Fidelity better than Robinhood? ›

Fidelity suits most types of traders since it offers several self-directed and automated account options. However, Robinhood is a better choice for low fees, and it makes more sense for active traders, day traders, options traders, and crypto traders. Is Fidelity or Robinhood better for beginners?

Why is TD Ameritrade better than Robinhood? ›

TD Ameritrade has a wider variety of account types and offers a full-service brokerage. Whereas Robinhood enables investors to purchase fractional shares of stocks, commission-free ETFs, and other investments without a large financial commitment.

Who is the nemesis of Robinhood? ›

The Sheriff of Nottingham is the main antagonist in the legend of Robin Hood. He is generally depicted as an unjust tyrant who mistreats the local people of Nottinghamshire, subjecting them to unaffordable taxes.

Who is Robinhood best friend? ›

His followers, the Merry Men, included a band of thieves, a friar (Friar Tuck) and Robin Hood's love interest, Maid Marion. His best, most loyal friend, was Little John, who was his second-in-command.

Who has the best trading algorithm? ›

Top Algorithmic Trading Platforms for 2023:
  • eToro CopyTrader - Best overall.
  • Zen Trading Strategies - Best free trial.
  • Coinrule - Best for crypto trading.
  • QuantConnect - Best for engineers and developers.
  • Interactive Brokers - Best for experienced algo traders.
  • Pionex - Best for low trading fees.
7 days ago

Is moomoo owned by China? ›

Moomoo is a newer entrant into the U.S. discount brokerage industry, and is owned by a Chinese parent company. That ownership structure shows through in some features of the brokerage's services, such as access to the Hong Kong stock market and China A-shares, both unusual features for American brokers.

How much does a moomoo cost? ›

Moomoo charges a fixed $0.65 fee per transaction for options trading. For US residents, investing with moomoo is commission-free. The company does not charge you fees to open your account, to maintain your account, or to transfer funds to your account.

Is moomoo stock legit? ›

Moomoo is heavily regulated and its clients are insured, so we can say with confidence that yes, moomoo is safe. Like most other legitimate investment platforms, moomoo is heavily regulated. Both the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

What broker does Warren Buffett use? ›

To summarize, Warren Buffett mostly doesn't use regular brokers like the majority of retail traders around the world. Instead, he prefers to make trades through a private stockbroker like John Freund in order to ensure that his movement is discreet and won't cause huge price swings in the market.

What does Warren Buffett think of Robinhood? ›

Fractional trading brokerages like Robinhood, meanwhile, are “a fly in the ointment,” to Buffett, Robert Bartlett, a professor at the University of California, Berkeley School of Law and co-author of the study. “Buffett wants to keep the price of his Class A shares high to attract long-term value investors,” he said.

Is Charles Schwab better than Robinhood? ›

Charles Schwab is a more traditional brokerage firm that offers multiple account types and a solid mix of traditional asset classes to invest in. Robinhood offers fewer account types, caters to beginner investors, and allows crypto trading, but is missing some more traditional investments.

Do millionaires use Fidelity? ›

The number of 401(k) millionaires in Fidelity-managed plans is relatively small, just shy of 1.4 percent out of 21.5 million accounts. That segment peaked in 2021, at 442,000, with a median balance of $1.3 million, according to Mike Shamrell, vice president for workplace thought leadership for Fidelity.

Do billionaires use Fidelity? ›

What brokerage firms do billionaires use? Many very wealthy individuals use the top brokerage firms, such as Fidelity, Schwab, Vanguard, and TD Ameritrade, among others. They invest in private equity and hedge funds.

Why is Vanguard better than Robinhood? ›

Vanguard may not be as flashy as Robinhood, but buy-and-hold investors will value the broker's simplicity and reliability. Vanguard is also a better fit for investors who want access to more asset classes, including some of the best (and lowest cost) funds in the business.

What is the best brokerage after Robinhood? ›

Overview of the Best Robinhood Alternatives
BrandBest forMinimum balance
TD AmeritradeIntermediate-level traders$0
BettermentHands-off investing$10 minimum to start investing, $0 minimum balance requirement after that
Ally InvestSelf-directed investors$0
6 more rows
Feb 3, 2023

What is the downside to TD Ameritrade? ›

One notable limitation is that TD does not offer fractional shares, and the mobile app does not support fixed-income purchases. Beyond that, investors using TD Ameritrade can access: Stocks (long and short) Mutual funds (more than 13,000 on offer, of which more than 3,600 are no-transaction-fee funds)56.

What platform is better than TD Ameritrade? ›

E*TRADE is recommended for investors and traders looking for solid research and a great mobile trading platform. Charles Schwab is recommended for investors and traders looking for solid research, low fees and great customer service.

Why does Robin Hood have a bad reputation? ›

Key Points. Robinhood makes a lot of its money by nudging customers toward risky trades and volatile investments. It's been fined by the SEC for claiming to charge no fees, while still taking a cut of each transaction behind the scenes.

Why is Robin Hood so controversial? ›

The state's securities regulator has claimed that Robinhood uses “aggressive tactics” and “gamification” to attract inexperienced investors to trade on its platform. The S.E.C. is separately continuing a review of January's “meme stock” rally.

What did Robin Hood do that was bad? ›

Robinhood was founded to “democratize” the stock market, but when it halted trading, it went against its stated purpose and did not allow its individual investors to purchase shares of Gamestop stock.

Are there any Robin Hood millionaires? ›

Robinhood co-founders, Vlad Tenev and Baiju Bhatt, became the world's newest billionaires after the popular, commission-free stock trading app went public last week. And they are now worth $2.1 billion and $2.4 billion, respectively, according to Forbes.

Who is the biggest investor in Robin Hood? ›

Top Institutional Holders
HolderSharesDate Reported
Nikko Asset Management Americas, Inc.24,312,135Mar 30, 2023
Blackrock Inc.23,038,099Mar 30, 2023
Thrive Capital Management, LLC20,410,961Mar 30, 2023
FMR, LLC17,592,492Mar 30, 2023
6 more rows

Who is the leading lady in Robin Hood? ›

In the 1991 film Robin Hood, Maid Marian is played by Uma Thurman.

What trading strategy has the highest win rate? ›

The Relative Strength Indicator (RSI) is very popular, and for a good reason. Welles Wilder invented RSI in the 1970s, which is now the most used trading indicator.

Does anyone actually make money with algorithmic trading? ›

Algorithmic trading can make an extremely profitable career.

However, it is not without risk. Algorithmic traders must have a deep understanding of the markets they trade and the strategies they use. They must also be able to effectively backtest their trading systems to ensure that they are robust.

Is there a perfect trading strategy? ›

First, there is no perfect trading strategy:

The first thing you need to understand is that the perfect strategy doesn't exist. Many keep looking for the perfect indicator or the perfect setup, or they keep fiddling with one or just a few strategies to improve them.

What does moomoo stand for? ›

moo-moo (plural moo-moos) (childish) A cow.

Is Webull a Chinese company? ›

Is Webull located in China? Webull is a Chinese-owned company. Specifically, it is owned by Fumi Technology, a Chinese holding company.

Is moomoo good for beginners? ›

Full Moomoo review

This stock broker is a good fit for: Advanced and active traders who want a wide range of trading tools, and beginner traders who want to learn more about trading.

What is the minimum deposit for moomoo? ›

At moomoo, the minimum deposit is $0.

How much does moomoo charge to withdraw? ›

moomoo charges $0 for withdrawal. The withdrawal process is usually executed within >3 days.

Is Webull and moomoo the same? ›

Webull is its own brokerage, whereas Moomoo uses Futu Inc. as a broker.

Does moomoo pay dividends? ›

Moomoo Fund Hub has monthly-paid, quarterly-paid, and annually-paid dividend funds. You can visit [Detailed Quotes] > [Summary] > [Basic Information] to view the dividend payout frequency.

What country is moomoo from? ›

Moomoo Inc., a subsidiary of Futu, is a U.S.-based financial services company headquartered in Palo Alto, California that allows customers to trade US stocks, Chinese stocks, Hong Kong stocks, ETFs, and options.

What are the 5 Warren Buffett stocks? ›

  • The Best Warren Buffett Stocks.
  • Apple Inc. ( AAPL)
  • Bank of America Corp. ( BAC)
  • American Express Co. ( AXP)
  • Coca-Cola Co. ( KO)
  • Chevron Corp. ( CVX)
  • Occidental Petroleum Corporation (OXY)
  • Kraft Heinz Co. ( KHC)
7 days ago

What three stocks does Warren Buffett own? ›

Buffett's Biggest Holdings
Company (Ticker)SectorMarket Value
American Express (AXP)Finance$22.4 billion
Kraft Heinz (KHC)Consumer Staples$13.3 billion
Occidental Petroleum (OXY)Energy$12.2 billion
Moody's (MCO)Finance$6.9 billion
6 more rows
May 22, 2023

Who is the famous stock trader buffet? ›

Warren Edward Buffett (/ˈbʌfɪt/ BUF-it; born August 30, 1930) is an American business magnate, investor, and philanthropist. He is currently the chairman and CEO of Berkshire Hathaway.

What is Rule Number 1 investing Warren Buffett? ›

Warren Buffett once said, “The first rule of an investment is don't lose [money]. And the second rule of an investment is don't forget the first rule. And that's all the rules there are.”

What problems is Robinhood facing? ›

The trading platform, which just reported billions in losses for 2021, is still contending with lawsuits, trading restrictions and regulatory scrutiny.

What is one thing that Buffett says to avoid? ›

Stay away from debt as much as possible, especially credit card debt, Buffett added. "I'll make an exception in terms of a mortgage on your house," he said. "But why get behind the game if you're effectively paying 12 or 14 or whatever percent you're paying on a credit card?" Buffett said.

What is the most successful brokerage firm? ›

TD Ameritrade is considered one of the top brokerage firms in the U.S. because of its value and quality of service. The firm provides clients with a 24/7 customer support system,34 a user-friendly website with mobile access, research and advanced trading tools.

What's the best brokerage to use? ›

Comparing the Best Online Brokers
BrokerStar Rating ▼Fractional Share Trading
Fidelity4.8 4.8 4.8Yes
TD Ameritrade4.5 4.5 4.5No
Interactive Brokers4.2 4.2 4.2Yes
tastyworks3.9 3.9 3.9No

Is Webull or Robinhood better? ›

18 Webull doesn't provide third party research but does provide more advanced and customizable charting than Robinhood. For technical and day traders seeking advanced and customizable charting, Webull is best. For everyone else, either platform is adequate for basic research.

Is Acorns or Robinhood better? ›

When it comes to overall investment selection, Robinhood is the better choice. You'll be able to trade stocks, ETFs, options, ADRs, and cryptocurrencies. You'll only have access to ETFs at Acorns. Acorns, however, is the stronger choice for socially responsible investing and custodial accounts.

Is Robinhood or Etrade better? ›

E*TRADE is a better option for more active traders, while Robinhood is a satisfying option for new and passive investors.

What is better Robinhood or public? ›

If you're looking for the best options trading platforms, it's also worth noting Robinhood does not charge an options contract fee, which many competitors do. Public doesn't allow options trading at all. If you're looking to buy or sell options contracts, Robinhood would be a better bet.

Is there any downside to using Robinhood? ›

What are the disadvantages of using Robinhood? The main downside of Robinhood is that the investment selection is limited for hands-off, passive investors: The broker offers no mutual funds or index funds, which financial advisors typically suggest using as the basis of a diversified portfolio.

What is the downside to Webull? ›

Despite a robust offering for active traders, Webull lacks access to some common securities, such as mutual funds and bonds. For investors interested in saving for retirement in an IRA, this could make it harder to truly diversify across assets traditionally found in a retirement portfolio.

Has anyone made money on Acorns? ›

So has anyone made money on Acorns? Well, Leora Wexler of Mamaroneck, New York, tells The Krazy Coupon Lady she has seen a 5.38% all-time ROI (return on investment) from using Acorns.

Will Acorns actually make me money? ›

Acorns is not a side hustle or money-making app that pays you. Think of it as a tool to grow the money you already have with consistent saving and investing. Generally, you'll earn money from your investments and by making qualifying purchases if you link your card to the Acorns account.

Is Acorns actually worth using? ›

The bottom line: If you want to make the most of your spare change and get the occasional retailer kickback, there's really no better place to do that than Acorns. The automatic roundups at Acorns make saving and investing easy, and most investors will be surprised by how quickly those pennies accumulate.

Which is better Charles Schwab or Robinhood? ›

Charles Schwab is a more traditional brokerage firm that offers multiple account types and a solid mix of traditional asset classes to invest in. Robinhood offers fewer account types, caters to beginner investors, and allows crypto trading, but is missing some more traditional investments. This Charles Schwab vs.

Why is Charles Schwab better than Robinhood? ›

Charles Schwab provides a broader array of investment products than Robinhood. For instance, Charles Schwab offers mutual funds, bonds and preferred stocks, while Robinhood does not. On the other hand, direct trading of cryptocurrency is available from Robinhood but not from Charles Schwab.

Which trading account is best? ›

List of 10 Best Demat Accounts in India [Updated 2023] – Detailed Overview
  • Axis Direct Demat Account. ...
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  • Upstox Demat Account.
Apr 12, 2023

Should I still trust Robinhood? ›

Robinhood is regulated by the U.S. Securities and Exchange Commission (SEC) and maintains membership in the Financial Industry Regulatory Authority (FINRA). Investment accounts with Robinhood are covered beyond just standard Securities Investor Protection Corp. (SIPC) coverage.

Why use public over Robinhood? ›

Public is similar to Robinhood in that it offers commission-free trades of stocks and ETFs. The primary difference between the two is the social features offered by Public. Also, Public offers far more crypto tokens, plus alternative investments, and treasuries.

Is Robinhood good to use now? ›

Bottom line: Robinhood Investing is one of the best investment apps and the best investment apps for beginners for active traders, options traders, and margin traders who want to purchase and trade investments with no commission.


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