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5 Best Robinhood Alternatives & Competitors

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Robinhood was one of the first companies to offer commission-free trading, and it quickly rose to prominence thanks to its simple design and user-friendly interface. However, Robinhood is far from the only game in town these days. In fact, there are a number of companies that offer similar services—and some that even provide more features and better value for your money. Here are 5 of the best Robinhood alternatives out there.

Robinhood Alternative: Acorns

Investing in your own stocks using a simple investing app like Robinhood is a great way to manage your own portfolio, but Acorns is a great alternative
Investing in your own stocks using a simple investing app like Robinhood is a great way to manage your own portfolio, but Acorns is a better choice if you prefer a hands-off approach, where money is moved into your account automatically and portfolios are selected for you.

Acorns is a great Robinhood alternative for small business owners who want to get started with investing but don’t have a lot of money to start with. With Acorns, you can start investing with as little as $5. The platform also offers a variety of investment options, including stocks, ETFs, and mutual funds. Perhaps best of all, Acorns offers a hands-off approach to investing, which makes it ideal for busy small business owners who don’t have a lot of time to devote to their investments.

Features of Acorns

  • Utilize the Round-Ups functionality to save and invest automatically.
  • Specialists construct Acorns’ diverse portfolios, which comprise ETFs run by experts at leading global investment firms like Vanguard and BlackRock. So rest assured knowing you’re in great hands
  • Along with your investing account, you have access to simple, automatic retirement accounts, banking that saves and invests for you, bonus investments when you shop at thousands of different companies, and ways to advance your expertise.

Plans & Pricing of Acorns

Pros of Acorns

  • Spare change is automatically invested.
  • At select retailers, you can earn cashback.
  • Content is available for educational purposes.

Cons of Acorns

  • High fee on small account balances.

Robinhood Alternative: Stash

Stash and Robinhood both appeal to DIY investors, Stash offers similar features to Robinhood and is a great alternative
Stash and Robinhood both appeal to DIY investors, Stash offers a managed portfolio and educational content, while Robinhood offers free trading.

Stash is another popular investment platform and Robinhood alternative, that offers a hands-off approach to investing. Like Acorns, you can start investing with as little as $5. With Stash, you can choose from a variety of investment options, including stocks, ETFs, and mutual funds. One unique feature of Stash is that it offers educational resources to help you learn about investing. This makes it a great choice for small business owners who are new to the world of investing.

Features of Stash

  • Customers may choose how much engagement they want with the Stash platform, which blends DIY investing with an automated portfolio.
  • After you make a purchase, Stash may round that up to the nearest dollar and, when it reaches $5, send the money to your investment account.
  • Thanks to Stash’s  Traditional and Roth IRA accounts, you can open custodial investment accounts for kids

Plan & Pricing of Stash

Pros of Stash

  • Investing and saving are made easy with these automated tools.
  • The price of a share begins at 1 cent and goes up from there.
  • Recommendations tailored to your risk level.
  • Commissions and trade fees are not charged.

Cons of Stash

  • It is a bit expensive for smaller accounts to pay a flat monthly fee
  • Financial planning is not available

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Robinhood Alternative: Wealthfront

In addition to being an alternative to Robinhood and, offering investment accounts, Wealthfront offers savings accounts, checking accounts, and even credit cards.
A Wealthfront account is perfect if you want to invest hands-off and amass a portfolio full of ETFs that are chosen for you. But if you want to buy individual stocks, trade options, or buy cryptocurrencies, you’ll need Robinhood.

Wealthfront is a great choice for small business owners who are looking for an all-in-one financial platform. In addition to being an alternative to Robinhood and, offering investment accounts, Wealthfront offers savings accounts, checking accounts, and even credit cards. Wealthfront also waives its management fees for accounts with balances of $10,000 or more. This makes it an ideal choice for small business owners who want to consolidate their financial accounts into one place.

Features of Wealthfront

  • Low management fee: 0.25% is levied as a management fee for Wealthfront’s Robo-advisory service. Although not the cheapest, it is unquestionably at the lower end of the price range.
  • Cheap investment expenses: The majority of Robo-advisors use exchange-traded funds for their client portfolios, which come with their own set of fees.
  • Cash account option: Users of Wealthfront can save money for unexpected expenses or rainy days by using a cash account in addition to its automated investment services.

Plan & Pricing of Wealthfront

Pros of Wealthfront

  • Low ratios of management fees and expenses
  • Cash-management capabilities
  • Several types of accounts
  • Harvesting tax losses

Cons of Wealthfront

  • Not any fractional shares.
  • No discounts on large balances.

Robinhood Alternative: Betterment

This Robinhood alternative charges no fees for balances up to $10,000 and offers 0.25% per year for balances above that amount.
The overall security measures taken by Betterment make it a great online investing service.

Betterment is another all-in-one financial platform that offers investment accounts, savings accounts, and even retirement accounts. This Robinhood alternative charges no fees for balances up to $10,000 and offers 0.25% per year for balances above that amount. This makes it a great choice for small business owners who want to keep their costs low while still getting access to quality financial products and services.

Features of Betterment

  • Betterment’s 0.25% management charge is one of the lowest when taking into account the other features.
  • In the event that your portfolio’s asset allocation does not match your desired risk profile, Betterment automatically rebalances your assets.
  • Integrated cash management.

Plan & Pricing of Betterment

Pros Betterment

  • Budget-friendly
  • Features that make managing cash easy
  • A minimum balance is not required
  • Harvesting tax losses
  • An excellent app for mobile devices

Cons of Betterment

  • Human advisors are unavailable
  • Account types are limited

Robinhood Alternative: Public

Gain access and exposure to a growing list of asset classes, not just stocks.
Gain access and exposure to a growing list of asset classes, not just stocks.

Public is a commission-free stock trading app that gives you the ability to buy and sell stocks, as well as ETFs, options, and crypto. One of the things that sets this Robinhood alternative apart from other investing apps, is its focus on helping beginning investors learn the ropes. They offer extensive educational resources on their website, as well as in-app features like chats with experts and real-time market data. You can also join or create “circles” of like-minded investors to share information and collaborate on strategies.

Features of Public

  • The user-friendly platform of Public’s app makes using it quick and uncomplicated. After downloading the app, you must respond to a few simple questions in order to apply and create an account. It won’t take more than two minutes to finish this.
  • Public was previously only available through an app on iOS and Android smartphones. It currently provides a web-based platform for trading assets.
  • Don’t let this opportunity pass you by. Whether you’re making a deposit for investment or withdrawing cash, you’ve got immediate access to the resources you need using Public instant transfers features

Plans & Pricing of Public

Pros of Public

  • Public lets you buy fractional shares
  • Social media plays a role in public relations
  • Payments for order flow are not accepted by Public
  • Mobile app that is easy to use

Cons of Public

  • Types of accounts are limited
  • Limited investment selections
  • Limited features

Conclusion

There are a number of different platforms that offer similar services to Robinhood. In this blog post, we took a look at five of the best Robinhood alternatives. These alternatives include Acorns, Stash, Wealthfront, Betterment, and Public. All of these platforms offer unique features and benefits that make them worth considering for small business owners. So, if you’re looking for an alternative to Robinhood, be sure to check out these other platforms.

I'm Agboola. I am a computer scientist with more than 6 years of experience helping small businesses reach their goals through the use of technology. I have a bachelors in computer science and a masters in information technology, so you can talk to me all day about software applications!

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