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Interactive Brokers vs Robinhood
Detailed comparison of fees, features and products
4.8
BROKER ONLY4.5
BROKER ONLYFeature Comparison
| Feature Comparison | Interactive Brokers | Robinhood |
|---|---|---|
| Wide Offering | ||
| Fractional Shares & DRIP | ||
| Free Savings Plan | ||
| Cash Sweep Yield | ||
| US Support | ||
| Tax Documents (1099) | ||
| SIPC $500k + FDIC | ||
| Score | 7/7 | 7/7 |
Fee Comparison
| Fee Comparison | Interactive Brokers | Robinhood |
|---|---|---|
| IRA Accounts (Roth, Traditional) | $0 (IBKR Lite) / Tiered | $0 commission |
| Cash Sweep Yield | $0 (IBKR Lite) | $0 commission |
| Crypto Fee | 0.12-0.18% | Spread |
| Margin Rate | 0.03% | N/A |
| Inactivity Fee | None | None |
| Deposit Fee | Free | Free |
| Withdrawal Fee | Free (1/month) | Free |
| Min. Deposit | 0 | 0 |
Product Range
| Product Range | Interactive Brokers | Robinhood |
|---|---|---|
| Stocks | 150+ markets worldwide | 5,000+ US stocks |
| ETFs | 13,000+ ETFs | 2,500+ ETFs |
| Mutual Funds | 40,000+ funds | 0 |
| Bonds | 1M+ bonds | 0 |
| Crypto | BTC, ETH, LTC, BCH | 20+ cryptocurrencies |
Pros & Cons
Pros
- Lowest margin rates in the industry (6% vs 12% at competitors)
- Access to 150 global markets from one account
- Best for professional traders and international investors
- SIPC $500k + Lloyd's excess insurance
- Highest cash interest rates (4.8%+ on USD)
- Best options pricing for complex strategies
Cons
- Trader Workstation (TWS) has steep learning curve
- Customer service not as friendly as Schwab/Fidelity
- Overwhelming for beginners
Pros
- 3% IRA Match: Robinhood matches 3% of IRA contributions (Gold)
- Top-tier cash interest rates for retail
- Best mobile app UX in the industry
- SIPC $500k protected
- Extended hours trading (7am-8pm ET)
- Instant deposits up to $50k (Gold)
Cons
- No mutual funds or bonds
- Limited research tools vs traditional brokers
- Customer service historically weak
- Payment for order flow concerns