Find out which cryptocurrency exchange meets your needs
The world is slowly embracing the new virtual currency market which is indeed growing at an unimaginable rate. However, as the crypto market continues to receive the boost it needs, many cryptocurrency exchange applications have emerged in the virtual money market offering breathtaking gains. With so much variety, sometimes it’s hard to decide what works best for you. Recently TD Ameritrade and Robinhood have been two popular platforms that people use, but users want to know which of them is the best. So if you are wondering about Robinhood vs TD Ameritrade then don’t worry, here is everything you need to know about it.
Robinhood vs. TD Ameritrade
TD Ameritrade Details –
TD Ameritrade is a well-known broker who offers its users an electronic trading platform. The company is known worldwide and was founded in 1971. The platform enables the trading of assets including common stocks, preferred stocks, futures, exchange traded funds, forex, options, cryptocurrency, mutual funds, fixed income investments, loan margin and many more services. According to stockbroker.com, TD Ameritrade offers a better experience of the trading tools offered by both platforms. Take a look at the details of the platform here:
TD Ameritrade Fees –
- TD Ameritrade Trading Fees
- Minimum deposit: $ 0.00
- Stock trading: $ 0.00
- ETF transaction fee: $ 0.00
- Mutual Fund Transaction Fee: $ 49.99
- Options (base fee): $ 0.00
- Options (per contract): $ 0.65
- Futures contracts (per contract): $ 2.25
- Broker Assisted Trading Fee: $ 44.99
- Account Fees for TD Ameritrade
- Annual IRA fee: $ 0.00
- IRA closing fee: $ 0.00
- Account transfer (partial): $ 0.00
- Account transfer (full): $ 75.00
- ACH Return Fee: $ 25.00
- Return transfer fee: $ 25.00
- Processing fee for share certificates: $ 0.00
- Delivery charge for the share certificate: $ 500.00
- Paper statement fee: $ 0.00
- Paper confirmation fee: $ 0.00
- Domestic transfer fee: $ 25.00
- International wire transfer fee: $ 25.00
Robinhood Details –
Robinhood is a popular US financial services company that also has a famous app that enables trading of US stocks, ETFs, options, cryptocurrency, certificates of deposit for over 250 global companies and fractions of shares. The platform is also known to provide a great experience for its mobile users. Apart from that, they specialize in individual taxable accounts, margin accounts, and cryptocurrency. Robinhood review mentioned that the platform is one of the great apps for newbies to start their journey.
- Minimum account: $ 0 for the brokerage account and for the Robinhood Gold account; $ 2,000 for a margin account (regulatory minimum)
- Stock trading fees: $ 0
- Option transactions: $ 0
- Account fees (annual, transfer, close, inactivity): No annual, inactivity or ACH transfer fees. $ 75 ACAT outgoing transfer fee. (Robinhood Gold costs $ 5 per month.)
- Marketable securities: stocks, ETFs, options, cryptocurrency, U.S. certificates of deposit for over 250 global companies and fractional stocks
- Number of commission-free ETFs: All available ETFs trade commission-free.
- Number of mutual funds with no transaction fees: None
- Trading platform: the web platform is intentionally simple but meets the basic needs of investors.
- Mobile App: The mobile trading platform includes customizable alerts, news feed, candlestick charts, and the ability to listen live to income calls.
- Research and Data: News available on WSJ Markets, Reuters, Barron’s, CNBC Business and Cheddar. Some access from Morningstar, Nasdaq, Nasdaq Totalview Level II market data for an additional $ 5 per month.
- Customer support options (including website transparency): email and social media