Stash vs. Robinhood: 2021 Comparison — Which Is Best for You?
Thanks to the latest technology and offerings, consumers today have better access to financial markets than ever before. Phenomena like meme stocks, social media, the crypto explosion and the COVID-19 pandemic have brought more and more people and their money into the markets in the past year. In fact, 15% of U.S. investors started investing during the pandemic.
Consumers and investors have many different options when it comes to personal finance applications, brokers and platforms. Therefore, it can be difficult for someone new to know where to begin. This guide will explore two options for you, Stash and Robinhood. Keep reading to learn about both platforms, their features, their fees and which might be right for you.
Overview of Stash and Robinhood
Stash and Robinhood are personal finance apps that provide anyone with access to financial markets.
Robinhood says it wants the financial system to work for everyone, not just the wealthy and privileged. The company has specifically developed its products to allow customers to invest at their own pace. Customers have access to market news, educational resources, stocks and options, exchange-traded funds, cryptos and cash management.
Stash says it wants to simplify investing and make it easy for everyday people to build wealth and achieve their goals. Stash offers three simple plans, ranging from $1 per month to $9 per month. Customers have access to market news, educational resources, stocks, ETFs and cash management.
Features and Services
Robinhood and Stash both offer excellent features and services on their platforms, both on their websites and on mobile.
- Stocks and funds: Individual stocks and ETFs
- Options: Calls and puts, plus advanced options
- Gold level: Research reports, margin accounts, additional data and more
- Cash management: Daily money needs, bill pay, ATM access and more
- Crypto: 24/7 access to Bitcoin, Ethereum, Dogecoin and more
- Education: Learn about investing
- Investment account: Invest in stocks and ETFs
- Stock-Back card: Earn stock rewards by making purchases
- Banking: Cash management account
- Savings tools: Auto-Stash lets you save automatically
- Personalized advice: Help for what’s best for you
- Smart Portfolio: Managed portfolios by financial experts
- Retirement: Roth or traditional IRA
- Life insurance: From $1,000 to $10,000, depending on your plan
- Education: Market news and educational materials
The most significant difference between Stash and Robinhood may be their fee structures. Robinhood charges virtually no fees for its standard offering, while Stash has three different tiers with a monthly access fee ranging from $1 to $9 per month. Here’s a comparison of Stash and Robinhood’s paid plans.
Stash vs. Robinhood Paid Plans
- Stash Beginner: This plan is $1 per month and includes an investment account, a Stock-Back card, savings tools, personalized advice and $1,000 of life insurance coverage.
- Stash Growth: This plan is $3 per month and includes everything in Stash Beginner plus Smart Portfolio and a Roth or traditional individual retirement account.
- Stash+: This plan is $9 per month and includes everything in Stash Growth plus double rewards on the Stock-Back card, an exclusive monthly market insights report and $10,000 of life insurance coverage.
- Robinhood Gold: This plan starts at $5 per month and includes access to research reports, larger deposits and the ability to trade on margin, Level II market data and more.
Mobile App Experience
Robinhood’s mobile app provides a fun and intuitive user experience to invest in stocks, options, funds and crypto on Google Play for Android and the App Store for iPhone and Apple Watch.
Stash also offers native apps on Google Play for Android and the App Store for iPhone.
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Who Should Use Stash?
Stash seems more focused on the new investor, with its wealth of educational materials, savings tools, personalized advice and managed stock portfolios. If you’re new to investing and would like a lot of guidance and education, Stash will be an excellent option for you. If you’re looking to invest in cryptocurrencies and stocks or funds, Stash won’t be a good option for you because they don’t provide access to crypto.
Who Should Use Robinhood?
Robinhood is committed to offering no-fee access to financial systems. There are no account minimums or commissions charged for any product. The company is also committed to safety and security, keeping your money protected at all times. Robinhood is an excellent choice for investors who want zero-commission trading, access to stocks, ETFs, options and crypto with a great user experience.
Both Robinhood and Stash are excellent options for a personal finance app. Which is best for you comes down to a personal choice. But merely having access to stock markets may not be enough for you to be successful. It will help if you also have a smart investment strategy for your money.
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