tastytrade vs Robinhood 2024
In this head to head comparison of tastytrade vs Robinhood, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.
In this head to head comparison of tastytrade vs Robinhood, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.
When comparing tastytrade and Robinhood, both online brokers offer comprehensive investment options to suit varied investor needs, with some notable distinctions. Both platforms support stock, margin, options, and crypto trading, though tastytrade edges out with a higher rating of 4 stars versus Robinhood's 3.5, according to StockBrokers.com. Ranked #11, tastytrade surpasses Robinhood's #14 position among 18 brokers. The primary differentiator lies in the futures trading capability, which is available at tastytrade but not at Robinhood, although Robinhood offers a wider selection of cryptocurrencies, boasting 20 coins compared to tastytrade's 4.
Delving deeper into specific offerings, tastytrade and Robinhood both support fractional share trading and provide traditional and Roth IRA accounts, making them accessible to diverse investor profiles. However, neither broker offers access to mutual funds, OTC stocks, forex trading, or advisor services, indicating a focused emphasis on niche investment vehicles rather than a broad-spectrum financial service. The absence of individual advisory services suggests both platforms target confident, self-directed investors who are accustomed to navigating market decisions independently.
In terms of cryptocurrency availability, Robinhood has a distinct advantage with 20 digital coins available for trading, significantly more than tastytrade's limited offering of four. While both platforms cater to individuals looking to engage in stock and options trading, those interested in exploring the futures market might gravitate towards tastytrade. Overall, while both brokers present viable options for personal investing, the choice may ultimately depend on individual investor priorities and the specific securities or features they value most in an online trading platform.
Feature |
tastytrade
|
Robinhood
|
---|---|---|
Stock Trading | Yes | Yes |
Margin Trading | Yes | Yes |
Fractional Shares | Yes | Yes |
OTC Stocks | No | No |
Mutual Funds | No | No |
Options Trading | Yes | Yes |
Futures Trading | Yes | No |
Crypto Trading | Yes | Yes |
Crypto Trading - Total Coins | 4 | 20 |
Investment Options |
Dive deeper: Best Options Trading Platforms for 2024, Best Futures Trading Platforms for 2024
When evaluating the trading platforms and tools offered by tastytrade and Robinhood, it's clear that tastytrade provides a more robust suite of features for experienced traders, earning a solid 4.5-star rating compared to Robinhood's 3-star rating. Ranked 6th by StockBrokers.com out of 18 brokers, tastytrade stands out with its impressive Windows and Mac desktop platforms, extensive charting tools, and customizable technical analysis capabilities. In contrast, Robinhood, ranked 13th, offers a more limited web-based platform without desktop downloads, yet it remains a popular choice for beginners due to its user-friendly interface.
Tastytrade's technical capabilities are particularly noteworthy. It offers 308 technical indicators and 31 drawing tools, far surpassing Robinhood's 16 indicators and 23 drawing tools. This detail-oriented platform also allows users to add notes, index overlays, and historical trades directly onto their charts, significantly enhancing the trading experience. Moreover, with 33 watch list columns and the ability to create custom studies, tastytrade provides a highly customizable trading environment, perfect for active traders seeking a comprehensive analytical toolkit.
On the other hand, Robinhood's straightforward platform may appeal to newer traders looking for simplicity and ease of use. It includes features like browser-based accessibility and the ability to set custom date ranges for charts, making it a convenient choice for those starting their trading journey. However, Robinhood lacks many advanced features that seasoned traders might find essential, such as comprehensive technical indicators, downloadable platforms, paper trading, and advanced customization options. As a result, traders looking for a deeper analysis and functionality may find themselves gravitating towards tastytrade's more sophisticated offerings.
Feature |
tastytrade
|
Robinhood
|
---|---|---|
Web Trading Platform | Yes | Yes |
Desktop Trading Platform | Yes | No |
Desktop Platform (Mac) | Yes | No |
Paper Trading | No | No |
Watch Lists - Total Fields | 33 | 3 |
Charting - Indicators / Studies | 308 | 16 |
Charting - Drawing Tools | 31 | 23 |
Platforms & Tools |
Dive deeper: Best Stock Brokers & Trading Platforms for 2024, Best Paper Trading Platforms for 2024
When it comes to beginner and investor education, both tastytrade and Robinhood provide essential resources for understanding stocks, ETFs, and options. However, neither platform offers education on mutual funds or bonds, nor do they support paper trading or provide educational videos or quizzes. Both brokers host webinars, though tastytrade distinguishes itself by offering users the ability to track their learning progress, a feature that Robinhood lacks.
In terms of educational quality, tastytrade edges ahead with a 4-star rating, compared to Robinhood's 3.5-star rating. StockBrokers.com ranks tastytrade as the eighth best out of 18 brokers for education, while Robinhood is slightly lower at tenth. Despite these differences, both platforms are well-regarded for their educational offerings, even as each has room for growth in certain areas to better support beginner and experienced investors alike.
Feature |
tastytrade
|
Robinhood
|
---|---|---|
Education (Stocks) | Yes | Yes |
Education (ETFs) | Yes | Yes |
Education (Options) | Yes | Yes |
Education (Mutual Funds) | No | No |
Education (Bonds) | No | No |
Paper Trading | No | No |
Videos | No | No |
Webinars | Yes | Yes |
Education |
Dive deeper: Best Stock Trading Platforms for Beginners of 2024
When it comes to stock trading apps, both tastytrade and Robinhood stand out as popular choices, each with its strengths and limitations. They both offer 4.5-star ratings for their stock trading apps, reflecting a high level of user satisfaction. However, Robinhood ranks slightly higher in terms of overall standings, securing the ninth spot out of 18 brokers according to StockBrokers.com, while tastytrade follows closely at tenth. Overall, your choice between these two depends largely on your trading preferences, such as the need for platform accessibility, customizability, and specific features like technical analysis and after-hours capabilities.
Both tastytrade and Robinhood cater to iPhone and Android users, offering robust apps for seamless trading on the go. However, Robinhood extends its reach with an Apple Watch app, a feature tastytrade does not provide. Enthusiasts of after-hours stock trading will find flexibility in both apps, although tastytrade has the edge with additional after-hours charting and landscape view capabilities. Robinhood, however, compensates by offering stock alerts and a broader range of technical studies for charting, making it appealing to traders who prioritize quick notifications and technical analysis.
For traders who value customizability, both apps support creating custom watch lists and adjusting watch list columns, aligning with personal trading strategies. There's a notable difference in the ability to view charts in landscape mode, with tastytrade supporting this feature while Robinhood does not. Despite the lack of features such as streaming live TV or videos on demand, both platforms facilitate a competent mobile trading experience, ensuring users have access to essential tools for decision-making on their trades.
Feature |
tastytrade
|
Robinhood
|
---|---|---|
iPhone App | Yes | Yes |
Android App | Yes | Yes |
Apple Watch App | No | Yes |
Stock Alerts | No | Yes |
Charting - After-Hours | Yes | Yes |
Charting - Technical Studies | 0 | 6 |
Mobile Trading Apps |
Dive deeper: Best Stock Trading Apps for 2024
When comparing tastytrade and Robinhood, potential investors must prioritize their specific trading needs and financial goals to determine the better platform. Both brokers offer a $0 minimum deposit and free regular stock trades, making them accessible to a wide range of users. However, key differences in their fee structures cater to different types of investors. Robinhood's commission-free options trading and generally lower margin rates might attract cost-conscious traders, while tastytrade's robust fee structure could appeal to more advanced traders seeking comprehensive trading tools.
Tastytrade sets itself apart with a highly competitive fee model for stock trades and investment accounts, but traders need to consider their charges for options trading, which stands at $0.50 per contract. Robinhood, by contrast, allows free options trading, potentially saving frequent options traders considerable costs. For margin trading, tastytrade's interest rates start at 11% for balances under $25,000, decreasing only slightly with higher balances. Robinhood provides significantly lower margin rates, beginning at 6.25% for smaller balances, offering a more economical alternative for investors leveraging their positions.
Additionally, both platforms are considerate regarding retirement accounts, imposing no annual IRA fees. Nonetheless, tastytrade applies a $60 fee for IRA closure, while Robinhood charges none. While both platforms have charges for account transfers, tastytrade's $75 fee for both partial and full ACAT transfers is notably less than Robinhood's $100 charge. For options traders, tastytrade imposes $5 for both exercise and assignment fees, which are free on Robinhood. Thus, each platform presents distinct advantages and costs that vary based on the type of trade and level of market engagement.
Feature |
tastytrade
|
Robinhood
|
---|---|---|
Minimum Deposit | $0.00 | $0.00 |
Stock Trades | $0.00 | $0.00 |
Options (Per Contract) | $0.50 | $0.00 |
Options Exercise Fee | $5.00 | $0.00 |
Options Assignment Fee | $5.00 | $0.00 |
IRA Annual Fee | $0.00 | $0.00 |
IRA Closure Fee | $60.00 | $0.00 |
Commissions & Fees |
Dive deeper: Best Free Trading Platforms for 2024
When considering tastytrade versus Robinhood for day trading, traders should note key differences and similarities in their platforms. While both brokers do not offer streaming time and sales for stocks or direct market routing, tastytrade stands out with its provision of streaming live TV, offering traders access to live financial news and insights—a feature Robinhood lacks. Both platforms provide ladder trading capabilities, yet neither supports trading hotkeys for quick keyboard trade entry. Additionally, neither tastytrade nor Robinhood offers level 2 quotes or basic and advanced strategy backtesting, which might be a limitation for day traders looking for comprehensive market analysis tools.
Another distinctive feature of tastytrade is the inclusion of a short locator tool, which allows traders to view real-time availability of shares available to short, a functionality that Robinhood does not provide. However, both platforms do not offer order liquidity (maker/taker) rebates. Overall, while tastytrade and Robinhood share some similarities, day traders may find tastytrade's additional features like the streaming live TV and short locator tool more beneficial to enhance their trading experience.
Feature |
tastytrade
|
Robinhood
|
---|---|---|
Streaming Time & Sales | No | No |
Streaming TV | Yes | No |
Direct Market Routing - Stocks | No | No |
Level 2 Quotes - Stocks | No | No |
Trade Ideas - Backtesting | No | No |
Trade Ideas - Backtesting Adv | No | No |
Short Locator | Yes | No |
Dive deeper: Best Day Trading Platforms for 2024
When evaluating the market research capabilities of online brokers tastytrade and Robinhood, it's evident that both platforms have strengths and weaknesses, resulting in equal ratings in this sector. Both tastytrade and Robinhood receive 2.5 out of 5 stars for market research from StockBrokers.com, placing them in the lower half of the pack. However, tastytrade is ranked slightly higher at number 13 out of 18 brokers, while Robinhood closely follows at number 14, indicating a marginal edge for tastytrade in this comparison.
In terms of stock and ETF research, both tastytrade and Robinhood offer access to these resources, though they fall short in areas like research for mutual funds, bonds, and Pink Sheets, with the latter available only through Robinhood. While Robinhood offers tools like a stock screener for trade ideas, tastytrade provides an advantage with the ability to view portfolio allocation by asset class, which is not available through Robinhood. Notably, neither platform excels in offering downloadable PDF research reports or ESG research, as both have no offerings in these areas.
Overall, the decision between tastytrade and Robinhood for market research rests on specific needs such as portfolio analysis and trade idea screening. While tastytrade offers unique portfolio insights, Robinhood provides a useful stock screener, leaving investors to weigh the importance of these features in their decision-making process. Ultimately, both platforms could benefit from enhancing their market research tools to better meet the demands of their users.
Feature |
tastytrade
|
Robinhood
|
---|---|---|
Research - Stocks | Yes | Yes |
Screener - Stocks | No | Yes |
Research - ETFs | Yes | Yes |
Screener - ETFs | No | No |
Research - Mutual Funds | No | No |
Screener - Mutual Funds | No | No |
Research - Bonds | No | No |
Screener - Bonds | No | No |
Research |
When comparing the banking capabilities of online brokers tastytrade and Robinhood, neither platform offers checking or savings accounts, mortgage loans, or CDs, illustrating a limited suite of typical banking services. However, a notable distinction between the two is Robinhood's provision of debit cards, a feature not available through tastytrade. While both brokerages lack credit card offerings, Robinhood’s inclusion of a debit card gives it a minor edge for users seeking some banking functionality combined with online brokerage services.
Feature |
tastytrade
|
Robinhood
|
---|---|---|
Checking Accounts | No | No |
Savings Accounts | No | No |
Debit Cards | No | Yes |
Credit Cards | No | No |
Mortgage Loans | No | No |
CDs | No | No |
Dive deeper: Best Bank Accounts for Trading Stocks for 2024
After opening live accounts and testing 18 of the best online brokers, our research and live account testing finds that tastytrade is better than Robinhood. tastytrade finished with an overall score of 84.9%, while Robinhood finished with a score of 84.5%.
tastytrade isn’t for every investor, but its platform is ideal for frequent options and futures traders, offering efficient workflow, useful risk management tools, killer design, and online content that makes you feel like you’re on a trading desk.
Both tastytrade and Robinhood offer cryptocurrency trading, but while tastytrade supports trading with 4 different coins, Robinhood provides a broader selection with 20 available cryptocurrencies.
Dive deeper: Best Online Brokers for Crypto Trading in 2024
Both tastytrade and Robinhood offer traditional and Roth IRA accounts with no annual fees, but tastytrade charges a $60 closure fee while Robinhood does not.
Dive deeper: Best IRA Accounts for 2024
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0 of 5Overall Rating | tastytrade | Robinhood | |
---|---|---|---|
Overall | |||
Commissions & Fees | |||
Investment Options | |||
Platforms & Tools | |||
Mobile Trading Apps | |||
Research | |||
Customer Service | N/A | ||
Education | |||
Ease Of Use | |||
Winner | check_circle | ||
Review | tastytrade Review | Robinhood Review |
Broker Screenshots | tastytrade | Robinhood | |
---|---|---|---|
Trading Platform & Tools Gallery (click to expand) | |||
Research Gallery (click to expand) | |||
Mobile Trading Apps Gallery (click to expand) | |||
Education Gallery (click to expand) |
Trading Fees | tastytrade | Robinhood | |
---|---|---|---|
Minimum Deposit | $0.00 | $0.00 | |
Stock Trades | $0.00 | $0.00 | |
Penny Stock Fees (OTC) | N/A | N/A | |
Mutual Fund Trade Fee | N/A | N/A | |
Options (Per Contract) | $0.50 | $0.00 | |
Futures (Per Contract) | $1.25 | (Not offered) | |
Broker Assisted Trade Fee | $0 | N/A |
Margin Rates | tastytrade | Robinhood | |
---|---|---|---|
Margin Rate Under $25,000 | 11% | 6.25% | |
Margin Rate $25,000 to $49,999.99 | 10.5% | 6.05% | |
Margin Rate $50,000 to $99,999.99 | 10% | 5.8% | |
Margin Rate $100,000 to $249,999.99 | 9.5% | 5.75% | |
Margin Rate $250,000 to $499,999.99 | 9% | 5.75% | |
Margin Rate $500,000 to $999,999.99 | 8.5% | 5.75% | |
Margin Rate Above $1,000,000 | 8% | 5.5% |
Account Fees | tastytrade | Robinhood | |
---|---|---|---|
IRA Annual Fee | $0.00 | $0.00 | |
IRA Closure Fee | $60.00 | $0.00 | |
Account Transfer Out (Partial) | $75.00 | $100.00 | |
Account Transfer Out (Full) | $75.00 | $100.00 | |
Options Exercise Fee | $5.00 | $0.00 | |
Options Assignment Fee | $5.00 | $0.00 |
Investment Options | tastytrade | Robinhood | |
---|---|---|---|
Stock Trading | Yes | Yes | |
Margin Trading | Yes | Yes | |
Fractional Shares | Yes | Yes | |
OTC Stocks | No | No | |
Options Trading | Yes | Yes | |
Complex Options Max Legs | 4 | 4 | |
Futures Trading | Yes | No | |
Forex Trading | No | No | |
Crypto Trading | Yes | Yes | |
Crypto Trading - Total Coins | 4 | 20 | |
Mutual Funds (No Load) | 0 | 0 | |
Mutual Funds (Total) | 0 | 0 | |
Bonds (US Treasury) | No | No | |
Bonds (Corporate) | No | No | |
Bonds (Municipal) | No | No | |
Traditional IRAs | Yes | Yes | |
Roth IRAs | Yes | Yes | |
Advisor Services | No | No | |
International Countries (Stocks) | 0 | 0 |
Order Types | tastytrade | Robinhood | |
---|---|---|---|
Order Type - Market | Yes | Yes | |
Order Type - Limit | Yes | Yes | |
Order Type - After Hours | Yes | Yes | |
Order Type - Stop | Yes | Yes | |
Order Type - Trailing Stop | No | Yes | |
Order Type - OCO | Yes | No | |
Order Type - OTO | Yes | No | |
Order Type - Broker Assisted | Yes | No |
Beginners | tastytrade | Robinhood | |
---|---|---|---|
Education (Stocks) | Yes | Yes | |
Education (ETFs) | Yes | Yes | |
Education (Options) | Yes | Yes | |
Education (Mutual Funds) | No | No | |
Education (Bonds) | No | No | |
Education (Retirement) | No | No | |
Retirement Calculator | No | No | |
Investor Dictionary | Yes | Yes | |
Paper Trading | No | No | |
Videos | No | No | |
Webinars | Yes | Yes | |
Webinars (Archived) | Yes | No | |
Progress Tracking | Yes | No | |
Interactive Learning - Quizzes | No | No |
Stock Trading Apps | tastytrade | Robinhood | |
---|---|---|---|
iPhone App | Yes | Yes | |
Android App | Yes | Yes | |
Apple Watch App | No | Yes | |
Trading - Stocks | Yes | Yes | |
Trading - After-Hours | Yes | Yes | |
Trading - Simple Options | Yes | Yes | |
Trading - Complex Options | Yes | Yes | |
Order Ticket RT Quotes | Yes | Yes | |
Order Ticket SRT Quotes | Yes | Yes |
Stock App Features | tastytrade | Robinhood | |
---|---|---|---|
Market Movers (Top Gainers) | Yes | Yes | |
Stream Live TV | No | No | |
Videos on Demand | No | No | |
Stock Alerts | No | Yes | |
Option Chains Viewable | Yes | Yes | |
Watch List (Real-time) | Yes | Yes | |
Watch List (Streaming) | Yes | Yes | |
Watch Lists - Create & Manage | Yes | Yes | |
Watch Lists - Column Customization | Yes | Yes |
Stock App Charting | tastytrade | Robinhood | |
---|---|---|---|
Charting - After-Hours | Yes | Yes | |
Charting - Can Turn Horizontally | Yes | No | |
Charting - Multiple Time Frames | Yes | Yes | |
Charting - Technical Studies | 0 | 6 | |
Charting - Study Customizations | No | Yes | |
Charting - Stock Comparisons | No | No |
Trading Platforms | tastytrade | Robinhood | |
---|---|---|---|
Active Trading Platform | tastytrade | Robinhood Legend | |
Desktop Trading Platform | Yes | No | |
Desktop Platform (Mac) | Yes | No | |
Web Trading Platform | Yes | Yes | |
Paper Trading | No | No | |
Trade Journal | No | No | |
Watch Lists - Total Fields | 33 | 3 |
Stock Chart Features | tastytrade | Robinhood | |
---|---|---|---|
Charting - Adjust Trades on Chart | Yes | Yes | |
Charting - Indicators / Studies | 308 | 16 | |
Charting - Drawing Tools | 31 | 23 | |
Charting - Notes | Yes | Yes | |
Charting - Index Overlays | Yes | Yes | |
Charting - Historical Trades | Yes | No | |
Charting - Corporate Events | Yes | No | |
Charting - Custom Date Range | No | Yes | |
Charting - Custom Time Bars | No | Yes | |
Charting - Automated Analysis | No | No | |
Charting - Save Profiles | Yes | Yes | |
Trade Ideas - Technical Analysis | No | No | |
Charting - Study Customizations | 7 | 1 | |
Charting - Custom Studies | Yes | No |
Day Trading | tastytrade | Robinhood | |
---|---|---|---|
Streaming Time & Sales | No | No | |
Streaming TV | Yes | No | |
Direct Market Routing - Stocks | No | No | |
Ladder Trading | Yes | Yes | |
Trade Hotkeys | No | No | |
Level 2 Quotes - Stocks | No | No | |
Trade Ideas - Backtesting | No | No | |
Trade Ideas - Backtesting Adv | No | No | |
Short Locator | Yes | No | |
Order Liquidity Rebates | No | No |
Research Overview | tastytrade | Robinhood | |
---|---|---|---|
Research - Stocks | Yes | Yes | |
Research - ETFs | Yes | Yes | |
Research - Mutual Funds | No | No | |
Research - Pink Sheets / OTCBB | No | Yes | |
Research - Bonds | No | No | |
Screener - Stocks | No | Yes | |
Screener - ETFs | No | No | |
Screener - Mutual Funds | No | No | |
Screener - Bonds | No | No | |
Misc - Portfolio Allocation | Yes | No |
Stock Research | tastytrade | Robinhood | |
---|---|---|---|
Stock Research - PDF Reports | 0 | 0 | |
Stock Research - Earnings | No | Yes | |
Stock Research - Insiders | No | No | |
Stock Research - Social | No | No | |
Stock Research - News | Yes | Yes | |
Stock Research - ESG | No | No | |
Stock Research - SEC Filings | No | No |
ETF Research | tastytrade | Robinhood | |
---|---|---|---|
ETFs - Strategy Overview | No | Yes | |
ETF Fund Facts - Inception Date | No | Yes | |
ETF Fund Facts - Expense Ratio | No | Yes | |
ETF Fund Facts - Net Assets | No | Yes | |
ETF Fund Facts - Total Holdings | No | Yes | |
ETFs - Top 10 Holdings | No | Yes | |
ETFs - Sector Exposure | No | Yes | |
ETFs - Risk Analysis | Yes | No | |
ETFs - Ratings | No | No | |
ETFs - Morningstar StyleMap | No | No | |
ETFs - PDF Reports | No | No |
Mutual Fund Research | tastytrade | Robinhood | |
---|---|---|---|
Mutual Funds - Strategy Overview | No | No | |
Mutual Funds - Performance Chart | No | No | |
Mutual Funds - Performance Analysis | No | No | |
Mutual Funds - Prospectus | No | No | |
Mutual Funds - 3rd Party Ratings | No | No | |
Mutual Funds - Fees Breakdown | No | No | |
Mutual Funds - Top 10 Holdings | No | No | |
Mutual Funds - Asset Allocation | No | No | |
Mutual Funds - Sector Allocation | No | No | |
Mutual Funds - Country Allocation | No | No | |
Mutual Funds - StyleMap | No | No |
Options Trading | tastytrade | Robinhood | |
---|---|---|---|
Option Chains - Basic View | Yes | Yes | |
Option Chains - Strategy View | Yes | Yes | |
Option Chains - Streaming | Yes | Yes | |
Option Chains - Total Columns | 20 | 17 | |
Option Chains - Greeks | 5 | 5 | |
Option Chains - Quick Analysis | Yes | Yes | |
Option Analysis - P&L Charts | Yes | Yes | |
Option Probability Analysis | Yes | No | |
Option Probability Analysis Adv | Yes | No | |
Option Positions - Greeks | Yes | Yes | |
Option Positions - Greeks Streaming | Yes | Yes | |
Option Positions - Adv Analysis | Yes | No | |
Option Positions - Rolling | Yes | Yes | |
Option Positions - Grouping | Yes | Yes |
Banking | tastytrade | Robinhood | |
---|---|---|---|
Bank (Member FDIC) | No | No | |
Checking Accounts | No | No | |
Savings Accounts | No | No | |
Credit Cards | No | No | |
Debit Cards | No | Yes | |
Mortgage Loans | No | No |
Customer Service | tastytrade | Robinhood | |
---|---|---|---|
Phone Support (Prospect Customers) | Yes | No | |
Phone Support (Current Customers) | Yes | Yes | |
Email Support | Yes | Yes | |
Live Chat (Prospect Customers) | Yes | No | |
Live Chat (Current Customers) | Yes | Yes | |
24/7 Support | No | Yes |
Overall | tastytrade | Robinhood | |
---|---|---|---|
Overall | |||
Commissions & Fees | |||
Investment Options | |||
Platforms & Tools | |||
Mobile Trading Apps | |||
Research | |||
Education | |||
Ease Of Use | |||
Winner | check_circle | ||
Review | tastytrade Review | Robinhood Review |