© All rights reserved 2024 | Threenvest I/S
Menu
Your expert: Alejandro Borja
Your expert: Xavier Tarrasó
Fees
Regulated
Demo account
Fees
Regulated
Demo account
Beginners
Trading
Passive income
Buy and hold
Beginners
Trading
Passive income
Buy and hold
Guide sponsored by the best exchange
eToro
eToro Special Offer*
Earn up to 4.90% APY on uninvested cash with eToro USA.
Account Minimum
Get started with just $100.
And 1% fee on all cryptocurrency trades.
| Interactive Brokers | Features | Robinhood |
|---|---|---|
|
Interactive Brokers offers a low minimum trade amount, making it accessible for both small and large investors. This encourages new traders to start without significant capital. |
Minimum Trade |
Robinhood Crypto allows users to start trading with as little as $1, making it highly accessible to beginners and those with limited capital. |
|
The platform’s fees are among the lowest in the industry, which is a major advantage for frequent traders. |
Trading and Transaction Fees |
The platform is known for its commission-free trading, which means users can trade cryptocurrencies without incurring additional costs, making it very cost-effective. |
|
Currently, only eight cryptocurrencies are available, which limits options for traders looking for a diverse portfolio. |
Number of Cryptocurrencies |
While the platform supports 15 cryptocurrencies, this number is relatively low compared to other exchanges that offer a broader range of digital assets. |
|
The platform offers limited crypto-to-crypto pairs, which restricts trading strategies for users looking to trade beyond major cryptocurrencies. |
Crypto-to-Crypto Trading Pairs |
Robinhood does not support direct trading between different cryptocurrencies, limiting trading flexibility. |
|
Interactive Brokers provides clear and comprehensive information about their services and fees. However, the site could be more intuitive for beginners. |
Website Transparency |
The website is user-friendly and provides clear information, but it could benefit from more detailed explanations on certain services and policies. |
|
Interactive Brokers offers an IBKR debit card for US residents as part of their Integrated Investment Management accounts . |
Credit/Debit Card |
Robinhood provides a debit card that can be used anywhere Mastercard is accepted . |
|
The platform offers secure storage solutions through partnerships with regulated entities, ensuring the safety of users’ digital assets. |
Storage Offering |
Robinhood does not support external wallets, meaning users cannot transfer their cryptocurrencies off the platform, which is a significant limitation for those seeking more control over their assets. |
|
Interactive Brokers does not currently offer staking or rewards programs, which could be a drawback for users looking for passive income opportunities. |
Staking and Rewards |
The platform does not offer staking or rewards programs, which are features available on many other cryptocurrency exchanges. |
|
The mobile and desktop platforms are highly rated for their functionality and user-friendly design, catering to both novice and experienced traders. |
Mobile App and Desktop |
Robinhood provides an excellent mobile and desktop trading experience, known for its seamless integration and user-friendly design. |
|
The customer service is generally responsive and helpful. However, the complex account setup process can be a barrier for new users. |
Customer Service
|
Customer service has been a point of criticism, with reports of slow response times and limited support options, which can be frustrating for users needing immediate assistance. |
|
The platform provides efficient deposit and withdrawal processes with multiple options, although there is room for improvement in speeding up withdrawal times. |
Deposit and Withdraw |
Deposits and withdrawals are straightforward, but the lack of support for transferring cryptocurrencies to external wallets remains a drawback. |
At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.
We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).
For more details on the categories considered when rating brokers and our process, read our full methodology.
Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.
Neither Threenvest, nor the author, are recommending you to invest with this article.
We help you invest in the crypto market in the safest way possible.
Threenvest was born by and for you. Our mission is to help you invest in the cryptocurrency market in the easiest and safest way possible. And how do we make money? Very simple, every time you click on any of the platforms that we recommend, it is possible that we get an income. We do not work with unsafe platforms, our standard is only to recommend platforms where we would invest our money ourselves.
© All rights reserved 2024 | Threenvest I/S