tastyworks vs Robinhood 2018

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The winner of the battle of tastyworks vs Robinhood is quite clear; tastyworks offers things that robinhood never will. Namely, futures, options on futures, advanced options strategies, and free closing trades.

In terms of the cost of trading for the two brokers, when you factor in the cost of a Robinhood Gold monthly membership (which is required for margin and options trading, and can cost $9 to several hundred per month), tastyworks is the clear winner.

For trading technology, tastyworks blows robinhood out of the water. The advanced features of tastyworks’ downloadable Mac and PC platform put it on par with professional options trading software.

tastyworks vs Robinhood 2018

Company Ratings

tastyworks

Robinhood

Overall

Commissions & Fees

Customer Service

Trading Platforms

Mobile App

Overall Ease of Use

Promotion Value

N/A

Fees

 tastyworks

 Robinhood

Minimum Deposit

 $2,500

$0

Stock Trade Fee

 $5.00 (free closing trades)

 Free

Options Ticket Charge

 None

 Free

Options per Contract Fee

 $1.00 (free closing trades)

 Free

Mutual Fund Fee

N/A

 Free

Market Data Fee

 Free

 Free

Wire fee (outgoing)

 $25

 $25

Inactivity fee

 None

 None

Investments

tastyworks

 Robinhood

Stocks

Options

Futures

Forex

Bonds

OTC Stocks

Penny Stocks

Options on Futures

Crypto

Mutual Funds

0

0

International Trading

Advisor Services

Trading Platforms

tastyworks

Robinhood

Web-based

Mobile App

Downloadable (Mac)

Downloadable (PC)

Real-time Level II data

Real-time Charting

Historical Option Data

Options Analysis

iPad App

Company Info

tastyworks

Robinhood

In-person Branches

Customer Service hours

9-5 CT, M-F, phone + live chat

Email Only

Sum of Client Balances

Not listed

$100m+

Member FDIC

Savings Account

Checking Account

Free Online Banking

Margin Rates

tastyworks

Robinhood

Under $24,999

8.00% Base Rate + 1.00%

N/A

$25k-$49,999

7.50% Base Rate + 0.50%

N/A

$50k-$99,999

7.00% Base Rate

N/A

$100k-$249,999

6.50% Base Rate – 0.50%

N/A

$250k-$499,999

6.00% Base Rate – 1.00%

N/A

$500k-$1M

5.50% Base Rate – 1.50%

N/A

Above $1M

5.00%

N/A

Check out the full review of tastyworks here. At the end of the day, comparing tastyworks to Robinhood is like comparing apples and oranges.

The simple fact of the matter is that Robinhood falls very short on offering clients advanced options trading privileges and charges clients a monthly fee to do so. Options only cost $0.50 at tastyworks after the free closing aspect is factored in. Moreover, there are no maintenance or inactivity fees.

Therefore, by definition, if you’re going to only trade a few options a month, tastyworks is less expensive than Robinhood.

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