![]() ![]() With Robinhood, the investment offerings are pretty simple, and you only have one taxable account. □ Winner: For now, there are more investment opportunities at cheaper rates with Robinhood. However, this changes if you upgrade to Robinhood Gold, which is for margin traders. There are no minimum account balances with Robinhood, and you never have to pay an inactivity fee. Now there is also Robinhood Crypto, which also offers cryptocurrency trades for $0 – one of the reasons crypto-asset investors (like ourselves) speak highly of the app. Even option contracts can be traded for $0. Robinhood kicked off the commission-free trading craze with $0 fees for stocks, ETFs, and options. There isn’t much research or screener tools provided, but there are synced watchlists, news feeds, stock snapshot pages, and candlestick charts available.Both the app and website offer ease-to-use trading tools.All trades cost $0 including $0 base plus $0 per contract options. ![]() Robinhood offers a simple mobile trading app for investors only interested in stocks, ETFs, options, and cryptocurrency trades.There is a minimum of $100 investment for brokerage accounts, and $500 for retirement accounts, which include traditional IRAs, Roth IRAs, and SEP IRAs.You can also place individual stock and ETF orders.You can access your portfolio via the mobile app or desktop platform.Automatic rebalancing allows you to continuously invest, as funds are added or withdrawn.There are no trading fees or asset management fees.Your pies contain low-cost ETFs and stocks that are tailored to your specifications or you can pick from 80 different expert portfolios.M1 Finance combines automated investing with tons of customization options, making it easy to create a portfolio with “pies”.Let’s take a quick look at how they stack up against each other. Shortly after Robinhood was making waves in the investment space, M1 Finance came out with another platform that allowed investors to craft a portfolio and access automated investing strategies. The platform catered – and caters – to millennial investors and beginners looking for a simple and cost-effective to start investing in stocks and other assets. The app allowed investors to trade stocks, ETFs, and options without fees since 2013. With the rise of online brokerage platforms and mobile trading apps, Robinhood was a major disruptor for mobile investing. Semi-experienced investors and long-term passive investors can also use these apps for low-cost investing on their terms. While both Robinhood and M1 Finance offer similar simple investing strategies for DIY investors, they approach their target audiences in different ways. Click here for a full list of our partners and an in-depth explanation on how we get paid. ![]() Partnerships do not influence what we write, as all opinions are our own. In order to operate, The Tokenist may receive financial compensation from our partners when you purchase products, services, or create accounts through links on our website. Some of the products and services we review are from our partners. You work hard for your money - and we work hard for you. The Tokenist aims to bring you the most accurate, up-to-date, and helpful information when it comes to your finance. Robinhood (2023): Who Has the Better Approach? Newsletter ![]()
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