Robinhood is in hot water with its customers after recently stopping trading in GameStop, as well as other stocks many people in the reddit forum Wall Street Bets had their eyes on. Many are now looking for Robinhood Alternatives, and even started the hashtag #DeleteRobinhood. I've even personally noticed an uptick in the views of my Investing Tutorial videos for other investment apps. There are also Apps who are moving away from the Payment for Order Flow model, and/or providing account transfer bonuses, in order to appeal to those who may be disgruntled.
I'll give you a list of brokerage accounts which can provide you with many of the same features as Robinhood. So first I'll talk about what are the main features that attract people to Robinhood, and what other brokerage accounts can offer you some of the same features.
User Friendly Mobile App
One of the main things that attract users to Robinhood is the easy of use, or user friendliness of the app. Now I would say that what one person considers user friendly will vary, so almost every app in this video is an app that I would personally consider user friendly. That leaves 5 specific features that I want to focus on for this list of alternatives.
1) Free Trading
2) Fractional Shares
3) Automated Share Purchases
4) Options Trading
These are 5 features Robinhood offers which I believe make it a very attractive app, whether you are a new or seasoned investor. Here are the apps you may want to consider which provide some of these same features.
This is not a head to head ranking of which app is the best investment app, I will start off with the apps that provide at least 2 of the 5 features mentioned above, increasing the number of matching features as we go along.
Matches 2 of 5 Features
AJ Mobile Money
Husband | Father | YouTuber | Former ATLien
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