Robinhood Alternatives for Options Trading in 2025

Looking for Robinhood alternatives that support options trading? We're breaking down the best trading apps that offer options trading features, advanced tools, and competitive pricing in 2025.

Key takeaways:

• Robinhood made options trading accessible, but many traders want more advanced tools, education, and stability.

• Several alternatives to Robinhood, like Webull, E-TRADE, Schwab, Ally Invest, and tastytrade, offer strong options platforms.

• Choosing the best Robinhood alternative depends on your trading style, experience level, and whether you want deeper analytics, lower contract fees, or a more professional-grade platform.

• Whether you trade stocks, crypto, or options, your gains may be taxable. Tools like Blockstats help simplify crypto tax reporting if you invest across multiple platforms.

Robinhood Alternatives: Overview

If you've been using Robinhood but feel like you've outgrown its basic features, you're not alone. Many traders start with Robinhood's simple interface but eventually seek platforms with more advanced tools, better customer support, and fewer restrictions. 

This is where alternatives to Robinhood start to shine. Most competitors now offer commission-free stock trading as well. But they differentiate themselves by providing a more robust trading experience, especially for options traders.

Before we compare them, let’s quickly recap what Robinhood is and what it does well.

What is Robinhood?

Robinhood is a commission-free trading app that revolutionized the brokerage industry when it launched in 2013. The trading app that lets users trade stocks, ETFs, options, and crypto with no account minimum. It became popular for its simple interface and ease of use, especially for beginners who were intimidated by traditional brokers.

But despite its popularity, Robinhood has faced criticism for:

• Frequent app outages during high-volatility events

• Limited options, analytics and educational tools

• Payment-for-order-flow concerns

• Fewer features compared to full-service brokerages
  
  

Because of these limitations, many traders eventually start searching for the best Robinhood alternatives platforms that offer more control, more data, and tools that match an evolving trading style.

For beginners, it's a great starting point. But as you gain experience, you might find yourself wanting more from your trading platform.

Best Robinhood alternatives: Apps like Robinhood

Here's a detailed look at the top alternatives to Robinhood for options trading in 2025:

1. Webull

Webull has become one of the most popular Robinhood alternatives, especially for traders who want to level up without losing the commission-free model. The platform offers a clean mobile interface similar to Robinhood but packs in significantly more powerful tools for technical analysis and options trading.

What sets Webull apart is its commitment to providing advanced features without charging commissions. You get detailed charting with over 50 technical indicators, extended trading hours, and the ability to practice with paper trading before risking real money. If you're trading options, Webull's platform lets you analyze multiple strategies and visualize profit/loss scenarios before executing trades.

Why Choose Webull?

• Commission-free options 

• Advanced charting with technical indicators

• Paper trading for strategy testing

• Supports stocks, ETFs, fractional shares, and crypto

• Great mobile and desktop experience

Pros and Cons

2. E-TRADE

E-TRADE has been around since the early days of online trading, and it shows in the platform's depth and reliability. The Power E-TRADE platform is where things get interesting. You get real-time streaming data, customizable watchlists, advanced options chains, and the ability to build complex multi-leg strategies with ease. The risk-reward analysis tools help you understand exactly what you're getting into before you place a trade, and the mobile app is surprisingly powerful for managing positions on the go.

Why Choose E-TRADE?

• Power E-TRADE is one of the best options platforms available

• Tons of strategy analysis and trading simulations

• Extensive educational content for improving your skills

• Lower contract fees for high-volume traders

Pros and Cons

3. Charles Schwab

Charles Schwab acquired TD Ameritrade in 2020, and the combined entity now offers one of the most comprehensive trading platforms available. Options trading costs $0.65 per contract, but you're getting access to incredible research tools, educational content, and customer service that actually picks up the phone.

Schwab's StreetSmart Edge platform is built for active traders who need speed and customization. The platform offers advanced charting, real-time data, and sophisticated options analysis tools. But what really sets Schwab apart is the ecosystem, you can manage banking, investing, and retirement planning all through one institution, which simplifies your financial life considerably.

Why Choose Charles Schwab?

• Access to thinkorswim's professional-grade trading tools

• Comprehensive research and market data

• Supports advanced multi-leg options strategies

• Trusted, secure, and reliable for long-term investors

Pros and Cons

4. Ally Invest

Ally Invest positions itself as the budget-friendly alternative that doesn't skimp on quality. At $0.50 per options contract, it's one of the more affordable options while still providing solid tools and a user-friendly platform. The big advantage here is the integration with Ally Bank, which means you can manage your checking, savings, and investment accounts all in one place.

You get the essential tools for options trading, including customizable options chains, profit/loss calculators, and strategy analyzers. It's not as feature-rich as E-TRADE or Schwab, but for many traders, that simplicity is actually a benefit.

Why Choose Ally Invest?

• Low contract fee of $0.50 per options contract
  

• Simple interface suitable for beginners

• Strong integrations with Ally Bank

• Automated investing options for hands-off users

Pros and Cons

5. tastytrade

tastytrade (formerly tastyworks) is the options trader's dream platform. Built by options traders for options traders, it offers some of the lowest commissions in the industry at $1 per contract to open and $0 to close. But the real value is in the platform's laser focus on options trading strategies and education.

The platform provides advanced options analytics, probability calculations, and tools designed specifically for strategies like spreads, strangles, and iron condors. tastytrade also produces hours of free educational content daily, featuring professional traders discussing strategies, market analysis, and trade ideas in real-time.

Why Choose tastytrade?

• Built around options trading

• Low contract fees ($1 per contract to open, $0 to close)

• Advanced tools for multi-leg strategies

• Strong educational content from tastylive

Pros and Cons

Why are Investors looking for Robinhood alternatives?

Robinhood's popularity has taken several hits over the past few years, and many users have started exploring alternatives. The platform faced significant backlash during the GameStop short squeeze in January 2021, when it restricted trading on several volatile stocks. Users felt betrayed, and the incident raised questions about Robinhood's reliability during critical market moments.

Beyond that specific event, several ongoing concerns drive users away. Robinhood's payment for order flow model creates potential conflicts of interest, the company profits by routing your trades to market makers rather than prioritizing best execution. While this practice isn't unique to Robinhood, the platform's heavy reliance on PFOF has drawn scrutiny from regulators and users alike.

Customer service is another pain point. Robinhood operates primarily through email support, and response times can be frustratingly slow. When you're dealing with time-sensitive trading issues or account problems, waiting days for a response isn't acceptable. Traditional brokers offer phone support and, in some cases, in-person assistance that Robinhood simply can't match.

For options traders specifically, Robinhood's tools are basic at best. You don't get advanced charting, sophisticated options analytics, or the educational resources needed to develop as a trader. Once you move beyond simple covered calls or cash-secured puts, you'll quickly find Robinhood's platform limiting.

As traders become more active, they naturally look for the best alternatives to Robinhood that match their growing needs.

Key factors when choosing a Robinhood alternative

Picking the right Robinhood alternative depends on your specific needs as a trader. Here's what you should consider:

Commission structure: While Robinhood offers free options trading, most alternatives charge $0.50-$0.65 per contract. Calculate how this impacts your profitability based on your trading frequency. High-volume traders should look for brokers that offer volume discounts.

Platform features: Think about which tools actually matter to you. Do you need advanced charting with dozens of indicators? Are you analyzing complex multi-leg strategies that require sophisticated visualization tools? Match the platform's strengths to your trading style.

Educational resources: If you're still learning options trading, prioritize platforms with strong educational content. Some brokers offer courses, webinars, and paper trading that can accelerate your learning curve without risking real money.

Customer support: Consider how important it is to reach a human when problems arise. If you value being able to call someone or visit a branch, factor that into your decision.

Account integration: If you're managing multiple investment accounts or want to consolidate your banking and investing, choose a broker that offers comprehensive financial services under one roof.

Mobile experience: If you trade primarily on your phone, test each platform's mobile app before committing. Some brokers excel on desktop but offer limited functionality on mobile.

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How Blockstats helps with crypto tax

If you trade crypto on platforms like Robinhood, Webull, or eToro, tracking your taxes can get complicated,especially when moving assets between apps.

Blockstats makes this easier by automatically aggregating your crypto transactions and generating accurate tax reports. Whether you're just dabbling in crypto or actively trading alongside options, 

Blockstats simplifies crypto tax reporting by automatically importing your transactions from exchanges and wallets, calculating your gains and losses, and generating the tax forms you need for filing. The platform supports all major exchanges and can handle complex scenarios like staking rewards, DeFi transactions, and NFT trades, not just simple buy-and-sell transactions.

For traders using multiple platforms, Blockstats aggregates everything into one comprehensive tax report. You don't need to manually track cost basis or figure out which accounting method (FIFO, LIFO, or HIFO) minimizes your tax liability, the software handles it automatically. This saves hours of spreadsheet work and reduces the risk of errors that could trigger IRS scrutiny.

Calculate your taxes with Blockstats →

Frequently asked questions

Who are the Robinhood Competitors?

The main Robinhood competitors include Webull, E-TRADE, Charles Schwab, Ally Invest, and tastytrade. Each offers options trading with varying fee structures and features. Webull closely mirrors Robinhood's free model, while traditional brokers like Schwab and E-TRADE charge per-contract fees but provide more sophisticated tools.

Which apps offer options trading besides Robinhood?

Webull, E-TRADE, Charles Schwab, TD Ameritrade (now part of Schwab), Ally Invest, tastytrade, Fidelity, and Interactive Brokers all offer options trading. Most charge $0.50-$0.65 per contract, though Webull offers commission-free options trading similar to Robinhood's model.

Is Robinhood trustworthy?

Robinhood is a regulated broker-dealer registered with the SEC and FINRA, making it legally trustworthy for holding your investments. However, the platform has faced criticism for trading restrictions, app outages, and customer service issues. Your funds are protected by SIPC insurance, but operational reliability remains a concern for some users.

What is a good app to replace Robinhood?

Webull is the closest replacement offering commission-free options with more advanced tools. For traders wanting professional-grade platforms, Charles Schwab or E-TRADE provides better research, education, and support. Your best choice depends on whether you prioritize low costs, advanced features, or comprehensive support.

Are there better options than Robinhood?

Yes, most established brokers offer better tools, research, and customer support than Robinhood, though they may charge per-contract fees. Platforms like Charles Schwab, E-TRADE, and tastytrade provide superior options trading features, educational resources, and reliability. The trade-off is paying small commissions for significantly better service and functionality.