Empower vs Robinhood
Empower is a free advanced tools plus hybrid advisory service for people with over $100k in investments. How does it compare to Robinhood? Read our comparison chart below.
Empower offers free advanced financial tools and paid wealth management services.
While Robinhood offers $0 stock trades by cutting out physical offices and manual account management. Only basic stock trading can be performed on the mobile app. There is no minimum deposit or maintenance fee, though there is an optional paid premier customer tier starting at $5/month.
Compare Empower with Robinhood, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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| Visit Site | Visit Site |
| SPECIAL OFFER Free Money Management Tools - Learn MoreRead Empower Review | OFFER Get a Free Stock (worth between $5 and $200) - Learn MoreRead Robinhood Review |
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| Benefits and Features |
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Stock Trading | | $0 |
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Options Trading | | $0 |
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Annual Fee | 0.89% for first $1 million, 0.79% for first $3 million, next $2 million 0.69%, next $5 million, 0.59%, and 0.49% over $10 million | None |
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Cryptocurrency Trading | | $0 |
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Minimum Deposit | $100,000 | $0 |
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Mutual Fund Trading | | No |
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Commission Free ETFs | | All U.S. listed ETFs |
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Phone Support | Yes | 650-761-7789 (available 24/7) |
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Live Chat Support | No | Available 24/7 (requires sign in) |
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Email Support | Yes | Yes |
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Human Advisors | Yes | No |
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Robo Advisor | | No |
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Assets Under Management | $1.2 trillion | $102 Billion |
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Penny Stocks | | Yes |
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Tax Loss Harvesting | Yes | No |
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Goal Tracker | Yes | No |
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Automatic Deposits | Yes | Yes |
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Broker Assisted Trades | | Not available |
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Good For | | Beginners; Active traders |
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Inactivity Fee | | $0 |
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Maintenance Fee | | $0 |
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Online Platform | Yes | Yes |
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iPhone App | Yes | Yes (4.2 stars, 4.3M ratings) |
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Android App | Yes | Yes (4.1 stars, 483k ratings) |
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Banking | | Offers Robinhood spending account with Robinhood Cash Card issued by Sutton Bank |
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Mobile App | Yes | Yes |
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Desktop App | | None |
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Two-Factor Authentication | | Device approvals, Authenticator app, SMS |
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Forex Trading | | No |
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Futures Trading | | No |
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Bond Trading | | No |
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CFD Trading | | No |
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Currency Trading | | No |
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Customer Service | | Live Chat (24 hours via Robinhood app)
Phone: 650-761-7789 (available 24/7)
Email: support@robinhood.com |
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Locations | | No |
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Online Community | | No |
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Seminars | | Yes |
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Trading Platform | | Web Trading, Mobile Apps |
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Virtual Trading | | No |
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Investment Tracking | | |
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Single Stock Diversification | Yes | |
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Fractional Shares | No | Yes |
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Taxable Accounts | Yes | Yes |
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401k Plans | Yes | No |
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IRA Accounts | Yes | Yes |
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Roth IRA Accounts | Yes | Yes |
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SEP IRA Accounts | Yes | No |
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Trust Accounts | Yes | No |
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529 Plans | Yes | No |
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| CreditDonkey® Reviews |
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Human Advisors | | |
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Robo Advisor | | |
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Price | | |
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Goal Tracker | | |
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Budgeting | | |
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Customer Service | | |
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Ease of Use | | |
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Investment Tracking | | |
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Retirement Planning | | |
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Stock Trading | | |
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Options Trading | | |
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Minimum Deposit | | |
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Mobile App | | |
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Commissions and Fees | | |
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Research | | |
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Pros & Cons | Pros:- Retirement planner
- Free portfolio advice
- Robo plus human advisors
Cons:- $100,000 min for advisory service
- Higher fees than competitors
| Pros:- Commission-free trades
- No minimum
- Extended trading hours
Cons:- Limited research
- No mutual funds & bonds
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Bottom Line | Free advanced tools plus hybrid advisory service for people with over $100k in investments... Read full review | Free way to trade stocks with limited bells and whistles... Read full review |
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| Visit Site | Visit Site |
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Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Empower: Pricing information from published website as of 04/30/2020 Robinhood: Pricing information from published websites as of 04/18/2020. Empower: Empower Personal Wealth, LLC (“EPW”) compensates CREDITDONKEY INC for new leads. CREDITDONKEY INC is not an investment client of Personal Capital Advisors Corporation or Empower Advisory Group, LLC. |
- 4.70% APY
- $0 monthly fee
- Withdraw up to $100k per day
Funds placed in the Empower Personal Cash Program are FDIC insured by program banks up to an aggregate of $5,000,000. (up to $10 million for joint accounts)
Robinhood Crypto offers commission-free cryptocurrency investments 24/7. Some of the cryptocurrencies available are Bitcoin, Dogecoin, Ethereum, and Litecoin. This offer is currently available to selected states.
Trade stocks, funds, options, and cryptocurrencies
Which is Better: Empower or Robinhood?
Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing Empower or Goldco.
In short: Empower's customer service is excellent.
Articles on Empower
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Empower offers free budgeting tools. But is it safe to link all your financial accounts? Learn just how secure Empower is.
Quicken is the oldest name in personal finance software, while Empower is newer and offers advanced tools for free. Read on to see if it's a good alternative to Quicken.
Empower and Mint are popular money management apps. Read this review to find out how they compare and which one is better for you.
Articles on Robinhood
Robinhood lets you trade stocks commission-free and has no account minimums. Is it safe? Are there hidden fees? Read on for the pros and cons.
Looking for apps like Robinhood but with a twist? Find the best alternatives with superior features. Do better in online trading with these apps.
Robinhood, Public, and Webull are all great options for growing your money. But which one will suit you the most?
Robinhood, Webull, Fidelity - three big investing platforms, but which is best for you? Find out in this detailed comparison guide.
Robinhood offers some of the most unique IRAs on the market. But are they any good? Read on to find out.
Are you worried about the safety of your investments? Let's examine the security features of Robinhood to determine if it's a reliable choice. Read on.
Robinhood earns money through payment for order flow, interest rates, and subscriptions. Learn how these factors contribute to Robinhood's success.
Robinhood and Coinbase Pro are two of the biggest names in retail investing and crypto trading. But which is best for buying Bitcoin?
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