Stash and Robinhood both has a great mobile app for both Apple iOS. Get more smart money moves — straight to your inbox. This website uses cookies to improve your experience. Bankrate is an independent, advertising-supported publisher and comparison service. read Low-fee investing platforms like Stash and Robinhood have recently surged in popularity, offering simplicity, convenience, and modern apps and interfaces. The company has said it hopes to offer this feature in the future. Robinhood App has gained the attention of part-time traders and investors for it’s “Free Trades” commission structure. It supports market orders, limit orders, stop limit orders and stop orders. The app is stripped-down, making it simple to navigate, especially once you understand how the app’s icons function. It functions smoothly and without delay, so you’re not hanging around waiting for it to load. also gets you a monthly market insights report. Margin refers to a collateralized loan where your investments act as the collateral. Number of no-transaction-fee mutual funds. But since the industry has moved to $0 commissions as standard, Robinhood may not hold quite as much appeal as it once did. We found that Robinhood may be a … On the other hand, it is concerning considering other brokers did not experience these outages and problems during that same time period. Stash and Robinhood both have a sleek, modern, intuitive, robust mobile app for both Apple iOS and Android. A simple order entry allows you to type in the number of shares or options contracts you want and shows how much buying power you have. This could be a negative, as the service doesn’t offer all the bells and whistles of a typical online stock broker. Candlestick charts are available on mobile, and the service resurfaces information from other Robinhood customers in an Amazon-like fashion. The service is available in most states, and the company is adding more. Limited free research and educational components: You can’t have it all when you’re not paying anything for trades, and it really shows in the limited free research and educational components being offered at Robinhood. This may influence which products we write about and where and how the product appears on a page. Neither platform supports automatic rebalancing. When evaluating offers, please review the financial institution’s Terms and Conditions. (Robinhood Gold costs $5 a month.). This is a Financial Industry Regulatory Authority regulation.). Robinhood also recently added cryptocurrency trading. Robinhood’s customer service and overall stability seem questionable. Our opinions are our own. The company does not publish a phone number. Her work has appeared in The Wall Street Journal and MarketWatch. When evaluating offers, please review the financial institution’s Terms and Conditions. If a streamlined trading platform or the ability to trade cryptocurrency are important to you, Robinhood is a solid choice. Robinhood Gold: Robinhood Gold is the company’s program to provide research and allow you to buy securities with borrowed money, or margin. James Royal is a reporter covering investing and wealth management. Before joining Bankrate, he worked as a writer for NerdWallet and a stock analyst for The Motley Fool. Required fields are marked *. Stash is a great low-cost investing platform with flat, low monthly fees and fractional shares. Robinhood’s commitment to providing 100% commission-free stock, options, ETF and cryptocurrency trades is admirable, and the savings for investors who trade frequently is significant. Robinhood does have a premium account option called Robinhood Gold that costs $5/mo. What Is a Leveraged ETF and How Do They Work? Visit Robinhood. Stash’s premium Stash+ plan at $9/mo. A Red Ventures company. Robinhood also offers a tab bar at the bottom of the app, which offers quick access to portfolio values, watch lists, transaction history and account statements. (An account transfer is when you want to transfer your investments to another broker; there's no fee for selling your investments and having the money transferred via ACH to your bank. In order to access margin with Robinhood, you must pay for the $5/mo. New investors should be aware that margin trading is risky. If you’ve ever tried to fund a brokerage account before, you know it can take a while to get the funds into the account, even if you move the cash right as you’re opening the account. Sign up to receive email updates when a new post is published. Customer support: Many brokerage customers understandably expect phone support, and they won't find it here — Robinhood's customer support is almost exclusively done through email. It does have a useful and well-organized help center online, and the website is easy to navigate and transparent. For long-term investors, this is not a substantial issue. If you want an alternative on which to day-trade stocks but don’t need fractional shares, consider Webull. ), Account minimum: Robinhood doesn’t have one, which means investors can get started right away. SPONSORED: A financial planner can help you build wealth and establish good money habits. Streamlined interface: This could be a negative, as the service doesn’t offer all the bells and whistles of a typical online stock broker. Both Stash and Robinhood offer fractional shares, a feature that allows every penny to go to work for you faster. Stash is not a true robo-advisor, but I’d call it a semi-robo-advisor. ($60/year) and gets you access to professional research reports, deeper market data, margin, and instant deposits. Stash is a passive, buy-and-hold investing platform, so there’s no trading or order control. However, newer investors may want more support, research and education. This feature makes it much easier to build a diversified portfolio — you're able to buy many more companies, even if you don't have a lot of money to invest. Robinhood Gold offers investors the ability to trade on margin, also known as borrowed money. They do not offer retirement, joint, trust, or custodial accounts. Both of these also offer solid free education for investors who want to power up their skills and knowledge. Robinhood also lacks an automatic dividend reinvestment program, which means dividends are credited to accounts as cash rather than reinvested in the security that issued them. Stash and Robinhood also both appear to have Android user bases who complain about problems with their Android apps. Pre-qualified offers are not binding. The company has said it hopes to offer this feature in the future. Robinhood uses instant verification with many major banks, sparing users the hassle of reporting micro-deposits to an account to verify information. This compensation may impact how, where and in what order products appear. Many or all of the products featured here are from our partners who compensate us. Both Stash and Robinhood offer an optional FDIC-insured checking account with debit card. All Rights Reserved. Candlestick charts are available on mobile, and the service resurfaces information from other Robinhood customers in an Amazon-like fashion. Commissions: What’s better than free? Bankrate.com is an independent, advertising-supported publisher and comparison service. Robinhood gets some money into your account immediately. For many people, Robinhood provides a more convenient option than having to use multiple platforms to manage various investments, assets, etc. Bank transfers of up to $1,000 are available instantly for investing, as are proceeds of up to $1,000 from selling stocks. It also provides a news feed, a composite of analysts’ rankings, and a brief profile. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. BR Tech Services, Inc. NMLS ID #1743443 | NMLS Consumer Access. includes access to retirement accounts in the form of a Traditional or Roth IRA. Being a full-fledged trading platform, Robinhood obviously offers an all-day trading window and order control. Here's how Bankrate makes money. . The broker charges loan interest to your account every 30 days. All financial products, shopping products and services are presented without warranty. Novice investors will likely feel more comfortable with Stash. Disclosure:  Some of the links on this page are referral links. I have first-hand experience with every product or service I recommend, and I recommend them because I genuinely believe they are useful, not because of the commission I get if you decide to purchase through my links. After all, every dollar you save on commissions and fees is a dollar added to your returns. Extremely limited account types: Robinhood is not a full-service brokerage, so don’t expect the same level of account types that you’d find at rivals. A. Stash is a “semi-robo-advisor” investing and saving platform built for passive, long-term, set-and-forget, buy-and-hold investing. Mobile app reviews are quite positive overall. (Like other brokers, Robinhood requires a $2,000 minimum portfolio balance to open a margin account. Of course, as part of its Gold program, the broker provides ratings from Morningstar, while offering a feed of news and analysis from popular websites for each stock. That is, Robinhood’s practice allows these traders to front-run you (or other clients) to squeeze out pennies (or fractions of pennies) on each trade, buying from you at a lower price and selling to you at a higher price. That means you can pay as little as $1 for a portion of a share, even if that share's full price is in the hundreds of dollars. Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc.: Licenses, NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer AccessLicenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Business Oversight Finance Lenders License #60DBO-74812, The difference between term and whole life insurance, How medical conditions affect your life insurance rate.