Robinhood has been one of the most popular online investing platforms that people have relied upon in the recent few years. Its biggest selling point is the zero-cost commission that most other investing platforms simply don’t offer. Pair that up with a sleek app design and highly positive user feedback, it simply is the default for anyone looking to invest in stocks online.
However, if you are an avid follower of cryptocurrency or stock market news, then you must be aware of the recent data breach that took place in the Robinhood app that affected more than 5 million users and potentially leaked their data. This is a huge red flag when it comes to something as sensitive and classified as someone’s stock collection and income.
So if you are a current Robinhood user, we highly suggest you withdraw all your holdings and transfer them to a safer place you can trust. But for those who rely on the stock market for a huge chunk of their income, worry not. There are dozens of similar trading apps that you can use instead. In this list, we will be going over some of the best Robinhood alternatives you should use in 2021!
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10 Best Robinhood Alternatives You Should Use
1. SoFi
Kicking the list off, we have SoFi, an excellent app for those who like a minimal user interface that is easy to navigate. This is also an app we recommend for first-time cryptocurrency traders since it is quite easy to understand. SoFi has more than 2.5 million satisfied customers and over $20 billion of debts cleared. Compared to the competition, it also has a rather low transaction fee, making it a viable alternative to Robinhood.