The 3 Best Robinhood Alternatives for Online Traders

Robinhood platform, which was once users’ favorite is having a rough year, and many of its current and loyal users are unsure whether they can still trust them. In the last year, up until now, Robinhood started obtaining bad press, which left a big impact on their business. Some users even filed a lawsuit against them, with stoppage during the meme coin explosion stated as the primary reason. 

With that being said, it is clear that their users are turning their backs to Robinhood, and start searching for alternatives, where they can trade their stocks. Even though Robinhood should be recognized as the pioneer of trading, the recent news shows that their credibility is fading away, and therefore it is time to look someplace else. 

There are a variety of trading platforms and mobile apps available online, but in this article, the focus is on the three that are worthy of attention.

1. Fidelity

When it comes to stock brokerage with a reliable reputation, it doesn’t get much better than Fidelity. This popular broker app is known for its outage-free service and premium customer service. 

Fidelity’s mobile app is user-friendly with a variety of features to choose from, which makes managing accounts easy and smooth. Traders that have used Robinhood previously will appreciate Fidelity’s commission-free stock and ETF trades, as well as fractional share investing (the capability to buy fractions of shares instead of only trading in whole shares). 

Fidelity also has brick-and-mortar facilities, meaning users will have the ability to talk to an actual human about their accounts. To put things into perspective, Robinhood didn’t even have a phone number until recently. This Fidelity feature is something Robinhood users will appreciate. 

Websites like Nachgefragt.net offer valuable pieces of information about the stock and cryptocurrencies market. On Fidelity app users can invest in mutual funds, stocks, bonds, ETFs, CDs, and open IRA accounts, cash management accounts, or college savings accounts. Usual trades are commission-free, which users always value deeply.

2. Coinbase

The main appealing thing about Robinhood is its ability to pack a lot of versatility into a single app. While most influential stock trading apps disclude the majority of cryptocurrencies, Robinhood allowed its users to trade numerous digital currencies. 

In case one decides to move away from the Robinhood app, Coinbase would be a great alternative, considering that they practically invented cryptocurrencies exchange. When two compared, Coinbase and Robinhood have similar interfaces, and they are just as easy to use. 

Coinbase offer of crypto coins is versatile and impressive. They take pride in their crypto education, research, and trading tools, as they spent years collecting them. They are known as being one of the easiest apps to start trading Crypto on. 

As most successful traders know, the most important thing when it comes to the stock exchange is to trust your brokers, and that your stock brokerage is providing you with accurate, up-to-date information whenever users have the need for it. Coinbase proved itself as an adaptable platform that users can trust. However, it is important to note that even though Coinbase provides premium cryptocurrency services, they have relatively high fees.

3. Acorns

The best thing about this platform is that it allows users to invest their spare change, and it is aimed towards beginners and those that aren’t necessarily serious about crypto trading. Acorn is perfect for those who don’t have the time or desire to figure out how the stock market works. 

They aim to make investing accessible to everyone. Most of their users invest small amounts of money, sometimes as small as only 5$. The popularity of Acorns lies in the fact that they offer a quick setup on investments for the whole family as well as checking and retirement accounts that users can add to in profits. They offer portfolios designed by experts, so their users could take advantage of them and keep their investments on track. 

Acorns app is extremely user-friendly, and it is fairly easy to switch between Past, Present, and Future tabs for maximum control of your account. According to their users, the Savings feature is the most convenient one, considering that the app automatically puts the money in the savings account if the user decides to do so. 

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