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Robinhood

Best for: Mobile-first investors who want a simple app

$0 commission

Options / contract

Check site

To open

$0

Yearly fee

As of · sources in Details

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Pros

  • Commission-free stocks, ETFs and options
  • Simple mobile app
  • IRA match (3% with Gold, per Robinhood)

Cons

  • No mutual funds, per reviewers
  • Little research
  • Some features need the paid Gold plan

Who it fits

You do everything on your phone

What reviewers say

Reviewers like the clean app, IRA match and high interest on uninvested cash. Drawbacks: no mutual funds, little research, and an app so easy that frequent trading can tempt.

Paraphrased from NerdWallet, Robinhood review; NerdWallet, Best brokers for beginner investors.

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Details: full breakdown and sources

The numbers

Online US stock & ETF trades
$0As of · source
Options, per contract
$0 commissionPlus a combined $0.04 per contract for exchange and clearing costs.As of · source
Minimum to open
Check provider siteWe couldn't confirm this on the provider's site.
Annual account fee
$0No fee to open or maintain an account. Gold is optional at $5/month.As of · source

The breakdown

A mobile-first app with commission-free stocks, ETFs and options, plus an optional paid Gold plan.

Robinhood is commission-free for stocks, ETFs and their options. Since January 2025 it collects a combined $0.04 per options contract to cover exchange and clearing costs, and it doesn't charge fees to open or keep an account.

Robinhood Gold is optional at $5 a month. Robinhood says Gold includes a 3% match on IRA contributions (terms and limits apply).

Review themes, point by point

  • Reviewers like the clean, streamlined app and the IRA match.
  • The interest on uninvested cash is described as high.
  • Common drawbacks: no mutual funds and little third-party research.
  • Some reviewers caution that a very easy trading app can make frequent trading tempting. That's worth knowing about yourself.

Reviews reflect each publisher's view on the day they wrote it.

All pros

  • Commission-free stocks, ETFs and options
  • Simple mobile app
  • IRA match (3% with Gold, per Robinhood)

All cons

  • No mutual funds, per reviewers
  • Little research
  • Some features need the paid Gold plan

Might fit if

  • You do everything on your phone
  • You'd use the IRA match

Maybe look elsewhere if:

  • You want mutual funds or in-depth research
  • Frequent price alerts would pull you into trading more than you'd like