The 10 Top Robinhood Alternatives to Use in 2022

According to a statement released by Robinhood, approximately 7 million users’ personal information was exposed in the latest hack within the popular stock trading app. An unapproved third party acquired customers’ email addresses and full names. Because of this, you may be looking for more secure alternatives despite Robinhood’s declaration that no bank account data or social security numbers were leaked.

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Robinhood isn’t the best in every area, even despite the sensational data leak. Some critics lament the lack of professional-grade analytic features, while others point out the app’s dated look. Robinhood hasn’t been the go-to platform for risk management, which can be even more important for newcomers. So, you should move toward better and safer Robinhood alternatives. The following is a compiled list of the top ten Robinhood alternatives.

Top 10 Robinhood Alternatives

1. Webull

Webull is a newer investment platform that caters to novice and experienced traders. Except for a few small wire transfer fees and SEC fees, there are no fees or commissions. Innovative technology has the potential to improve your stock and cryptocurrency market returns, according to this online brokerage. You can also use a practice account to trade with fictitious funds. Webull caters to intermediate and experienced traders and investors. When you compare different online brokers, traders who frequently trade for short periods can earn handsome money on commissions.

Inexperienced traders might find the Webull platform too advanced, but they can still learn how to use it. Webull’s trading platform has useful properties for intermediate and experienced traders as a desktop and mobile web-based application. The platform’s tools provide insights and information to help you generate more profitable trades using fundamental and technical analysis.

Use the link above to get 10 free stocks for signing up

2. Coinbase

In addition to enabling you to invest in cryptocurrencies, this powerful Robinhood alternative does more. You may use a Coinbase Visa debit card to make bitcoin purchases. You can monitor the value of your assets in real-time using a dashboard provided by this Robinhood alternative. You’ll never miss a chance to profit from this crypto trading exchange platform since it keeps you up to date on the latest developments. It is possible to keep track of your portfolio, automate purchases, and put your money in a vault protected from prying eyes.

Coinbase will reward you with $5 in bitcoin as soon as you sign up. On the site, there are over 56 million verified users. Digital assets may be safely stored in offline storage using a cryptocurrency hardware wallet. One may acquire Bitcoin securely online and plan their crypto trading at any time of day or night using this service. To ensure the security of your cash, this crypto exchange uses a vault. You can also read a full Coinbase review here.

Use the link above to get $10 in free cryptocurrency for signing up

3. M1 Finance

One of Robinhood’s alternatives, M1 Finance, provides investors with a risk-free way to invest their money. The M1 Finance investing app allows you to access standard financial services and expert investment advice. This free service provides a hybrid platform between a regular investment management service and an automated financial adviser. You have more control over your money with M1 Finance than with traditional Robo-advisors (in which your money will be spent automatically).

Regular and consistent investment is very important to M1 Finance. Therefore, I’ll urge you to initiate automatic payments. Unlike Robinhood, M1 does not cater to day traders, but it can provide a straightforward means of getting involved with long-term investments. M1 Finance offers IRA choices for long-term savings with no commission or fee costs.

4. Betterment

Robo-advisors like Betterment are perfect for those who don’t want the headache of picking their investments and don’t want their portfolio managed by professionals. In addition to offering a free bank and savings account, this is an excellent Robinhood alternative (they call it their cash account).

In addition to providing complete investment management, it is excellent for harvesting tax losses on taxable accounts. It provides healthy options for the environment and those that are safe for society. You may make a one-time contribution or set up automatic payments into your account if you want.

5. Public

Public is a social network for investors that allows you to follow others, hold fractional shares of companies and ETFs, and discuss ideas. In the beginning stages of investing, it is simple to interact with others since the stock market is open and accessible to everyone.

It doesn’t matter how much money you have; you may purchase shares without paying any commissions. You may buy a fractional share of stock for as low as $5. You don’t have to pay a commission charge if you want to buy ETFs from Vanguard, BlackRock, etc.

You have a lot of flexibility regarding investing with Public. Invest in fractional shares or full shares to build your portfolio at your own pace. Additionally, you may form or join group conversations where you can discuss businesses and trends. Start using Public now.

6. TD Ameritrade

An excellent Robinhood alternative, TD Ameritrade is widely acknowledged as one of the best online brokerages. After it was created in 2019 and became commission-free, it quickly became a robust platform that offers many more trading options than Robinhood.

One of the most user-friendly and straightforward trading platforms is TD Ameritrade. They save time and effort by having all the resources they need at their fingertips while doing due diligence on potential investments and firms. So many tools may help you become a better investor because of this.

7. Acorns

A micro-investing platform called Acorns has acquired considerable momentum in recent years. When it comes to investing, this Robinhood alternative takes a hands-off approach. As a result, you save time by not having to perform any research, establish your portfolio, or rebalance it. In the financial markets, it increases your earning potential. The software is ideal for new and small investors since you can start investing only $5. Using this software, you may enhance your financial stability by adopting healthier spending habits.

8. SoFi

In 2011, SoFi, an online bargain broker, made its debut. Investing with SoFi is a rewarding experience complemented by an excellent personal financial tool. It is an excellent Robinhood alternative for student debt refinancing, insurance, a cash management account with a debit card, personal loans, and more are all offered by Robinhood in addition to its other services.

SoFi Invest is a trading program that allows you to start investing for as little as $1. Additionally, you may trade stocks and ETFs without paying a commission or a fee. Participate in forthcoming IPOs before they are traded on the public market for free. You may combine personal loans with student loan debt. This tool may assist those who prefer a hands-off approach to investing.

SoFi is marketed to investors under 30. In addition to stock and ETF trading, the platform allows trading in cryptocurrencies like Bitcoin and Ethereum and small fractional shares in major corporations like Amazon and Netflix. Members-only perks like free educational seminars and one-on-one discussions with financial advisers may also help new investors. And since there is no minimum account balance requirement with SoFi, you can get started right away.

9. E*TRADE

E*TRADE is the most excellent Robinhood alternative since it is a unique and robust bargain trader. Individuals with sophisticated trading skills and a long-term financial plan should use this platform. Trade on the go via E*TRADE mobile app, online, or toll-free helpline, available 24 hours a day, seven days a week. E*TRADE’s minimal commissions are one of the many benefits of trading with them.

10. Stash

A debit card and an investing app are included in one package, making Stash one of the finest for beginners. As a result, managing your accounts is a cinch, thanks to a single app that includes everything you need. It is most suitable for those in need of various financial services, such as checking and savings accounts. It allows for investing in fractions of a share. You may use it to keep track of your finances.

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