Searching for Robinhood vs TD Ameritrade in 2026 requires one major clarification: you can no longer open a new TD Ameritrade account. Charles Schwab acquired TD Ameritrade and completed the final client account conversions to Schwab in May 2024.
That changes this comparison significantly. Today, you are effectively comparing Robinhood with the Charles Schwab brokerage experience that absorbed TD Ameritrade accounts and technology. The well-known thinkorswim platform survived the migration and remains available through Schwab.
Robinhood has changed considerably too. Its current lineup includes individual and joint investing accounts, traditional and Roth IRAs, custodial accounts, trust accounts, managed investing, options, futures, and other features.
Here is how the two brokerage experiences compare today.
Robinhood vs TD Ameritrade: What Happened to TD Ameritrade?
Charles Schwab completed its acquisition of TD Ameritrade in 2020. Client migrations continued afterward, with the final conversion completed in May 2024.
Former TD Ameritrade clients now use Schwab. TD Ameritrade therefore cannot be treated as a separate brokerage option for someone opening an account today.
One major piece of TD Ameritrade did survive: thinkorswim. Schwab currently provides desktop, web, and mobile versions of the trading software.
That distinction matters when researching older comparisons. Many features once attributed to TD Ameritrade should now be checked against Schwab's current terms instead.
Quick Brokerage Account Comparison
| Category | Robinhood | TD Ameritrade Legacy / Schwab Today |
|---|---|---|
| New TD Ameritrade accounts | Not applicable | No |
| Online listed stock trades | $0 commission | $0 commission at Schwab |
| Online listed ETF trades | $0 commission | $0 commission at Schwab |
| Standard stock and ETF options contracts | No per-contract fee at Robinhood | $0.65 per contract at Schwab |
| Fractional investing | Available | Available at Schwab |
| Advanced trading software | Robinhood trading tools | thinkorswim |
| Traditional and Roth IRAs | Available | Available through Schwab |
| Custodial investing accounts | Available | Available through Schwab |
| Futures | Available, with contract and related fees | Available through Schwab |
| Premium subscription | Robinhood Gold | No direct equivalent required for thinkorswim access |
Specific fees can change, and regulatory, exchange, transfer, product, subscription, or service charges can still apply.
Trading Costs: Both Emphasize Low-Cost Online Trading
For investors focused on commission-free trading, both brokerage models keep standard online stock trading inexpensive.
Schwab currently charges $0 commission for online trades of listed stocks and ETFs. Standard online options trades carry a $0 base commission plus $0.65 per contract. Certain products and services have separate charges, including OTC securities, some mutual funds, futures, broker-assisted transactions, and certain fixed-income trades.
Robinhood charges no base fee or per-contract fee for standard stock and ETF options. Other regulatory, exchange, subscription, wire, and account-related charges can apply.
That difference may matter to frequent options traders. Someone primarily buying stocks or ETFs may find the basic online trading cost difference relatively small.
Fractional Investing Is No Longer a Robinhood-Only Advantage
Buying fractional shares was once an obvious distinction between these brokerage experiences. That gap has narrowed.
Schwab now lets eligible customers invest in most U.S.-listed stocks and ETFs using fractional positions, with purchases starting at $1. Online eligible fractional trades carry no commission.
Robinhood also supports dollar-based investing in eligible securities.
Fractional investing can be helpful when a company's share price exceeds the amount you want to invest at one time. Instead of saving enough for a full share, you can allocate a specific dollar amount.
Investors should still check transfer rules before moving fractional positions between firms. Brokerage transfer policies can treat partial positions differently from whole shares.
Robinhood Gold Changes the Cost Equation
Robinhood Gold is an optional subscription costing $5 monthly or $50 annually as of September 2026.
Gold currently includes benefits such as 3.35% APY on eligible brokerage cash, subject to applicable program requirements and rate changes. Subscribers can also receive a 3% match on eligible annual contributions to a self-directed Robinhood IRA.
The IRA benefit comes with conditions. Robinhood states that customers generally need to maintain Gold for at least one year after receiving their first Gold match to retain the full Gold match. Funds earning the match generally need to remain in the IRA for at least five years to avoid a potential early match removal fee.
Non-Gold customers currently receive a 1% match on eligible self-directed IRA annual contributions.
The subscription therefore makes the most sense to evaluate based on the features you expect to use rather than the headline benefits alone.
thinkorswim Remains a Major Part of the TD Ameritrade Legacy
The thinkorswim platform remains available at Schwab across desktop, web, and mobile.
Its tools include charting, technical studies, drawing tools, watchlists, strategy testing, and paperMoney simulated trading. The desktop version targets traders who want extensive customization and market-analysis functionality.
That can matter if your trading style relies heavily on charts, technical indicators, simulated strategies, or detailed order management.
Robinhood has expanded its trading capabilities considerably, so describing it solely as a basic stock-trading app is outdated. Still, traders evaluating platforms should compare the specific analytical and order features they actually use rather than relying on each company's historical reputation.
Investment Choices Have Changed on Both Sides
Older articles often describe Robinhood as supporting a narrow set of investments while TD Ameritrade supports nearly everything. That comparison needs updating.
Robinhood now supports several products beyond standard stocks and ETFs, including options, cryptocurrency and futures. Futures trading carries commissions plus applicable regulatory and exchange fees.
Schwab provides access to stocks, ETFs, options, mutual funds, bonds and other fixed-income products, futures, and forex.
The relevant question is therefore which investments you expect to trade.
If your portfolio relies heavily on mutual funds, bonds, or specialized investment products, checking Schwab's current product catalog and pricing may be useful. If your priorities center on stocks, ETFs, options, crypto, or futures through a streamlined digital interface, Robinhood covers a broad set of those categories.
Account Types Are No Longer as Far Apart
Another outdated assumption is that Robinhood supports only individual taxable accounts and IRAs.
Robinhood currently lists individual investing accounts, joint investing accounts, traditional and Roth IRAs, revocable trust accounts, managed accounts, and custodial accounts. Its custodial investing accounts operate under UTMA rules.
Schwab also supports numerous taxable, retirement, custodial, trust, and business-related account structures.
Your household needs can therefore matter as much as trading features. Someone managing personal investments, retirement savings, and assets for a minor may want to check which account structures and management features fit their situation.
Which Platform Has Lower Options Costs?
For standard stock and ETF options, Robinhood currently advertises no base fee and no per-contract fee. Schwab charges $0 online base commission plus $0.65 per options contract.
That gives Robinhood a straightforward pricing distinction for frequent standard options transactions.
Cost should still be viewed alongside execution, research, trading software, strategy requirements, and available support. Options involve substantial risk and are not suitable for every investor.
What Does Robinhood Do Well?
Robinhood may suit investors who prioritize:
- A digital-first investing experience
- Standard stock and ETF options without per-contract fees
- IRA contribution matching
- An optional paid membership with additional benefits
- Cryptocurrency access
- Futures trading
- Fractional investing
- Joint, custodial, trust, and retirement accounts
Its feature set has expanded substantially from its earlier mobile-focused brokerage model.
What Does the Former TD Ameritrade Experience Do Well at Schwab?
The former TD Ameritrade experience now lives largely inside Schwab. It may suit investors looking for:
- thinkorswim trading software
- Extensive research and analysis tools
- Mutual funds and fixed-income choices
- Futures and forex access
- A broad selection of account structures
- Trading specialist support
- A full-service brokerage environment
Schwab's current platform combines its existing investment services with technology inherited from TD Ameritrade.
Potential Limitations to Check
No brokerage fits every investor.
With Robinhood, some attractive features sit behind the Gold subscription, and certain benefits have eligibility requirements or holding conditions. Specialized products such as futures have their own commission, regulatory, and exchange costs.
At Schwab, options carry a $0.65 per-contract charge, and several investment types fall outside its headline $0 online stock and ETF commission. Some mutual funds, futures, fixed-income transactions, OTC securities, and broker-assisted trades can carry separate costs.
Reading the current fee schedules before funding an account can prevent surprises.
Frequently Asked Questions
Can you still open a TD Ameritrade account?
No. TD Ameritrade accounts were converted to Schwab, with the final client transition completed in May 2024. New investors looking for the successor to TD Ameritrade should research Schwab.
Does TD Ameritrade still exist?
Not as the standalone retail brokerage that investors previously used. Schwab's 2024 annual report states that TD Ameritrade and TD Ameritrade Clearing were no longer registered as broker-dealers with the SEC and FINRA as of December 31, 2024.
Can you still use thinkorswim?
Yes. Schwab currently provides thinkorswim on desktop, web, and mobile.
Does Robinhood charge for options?
Robinhood currently states that standard stock and ETF options have no base fee, exercise or assignment fee, or per-contract fee. Other applicable charges can still apply.
Does Schwab have fractional investing?
Yes. Schwab currently supports fractional purchases of most U.S.-listed stocks and ETFs, with eligible investments starting at $1.
Does Robinhood have retirement accounts?
Yes. Robinhood supports traditional and Roth IRAs. Eligible self-directed IRA contributions currently receive a 1% match without Gold or 3% with an eligible Gold subscription, subject to program conditions.
Evaluating Robinhood and the TD Ameritrade Legacy Today
A current Robinhood vs TD Ameritrade comparison ultimately means comparing Robinhood with the brokerage experience TD Ameritrade helped create inside Schwab.
Robinhood has expanded far beyond its original mobile stock-trading focus. It now provides several account structures, retirement benefits, options, futures, crypto, managed investing, and paid Gold features.
Schwab inherited TD Ameritrade accounts and thinkorswim while maintaining a broad investment catalog, research resources, trading support, and numerous account structures.
Your decision can depend on what you plan to trade, the account structure you need, how often you trade options, the research tools you use, and which fees apply to your activity. Checking each firm's current pricing and disclosures before opening or transferring an account can help you compare the actual costs that apply to you.
Investing involves risk, including possible loss of principal. Brokerage features, rates, promotions, fees, and eligibility requirements can change.
