Robinhood is a modern and user-friendly investment app from the US, founded in 2013. It has introduced the concept of commission-free trading in financial products such as stocks and ETFs, competing with its major rivals like Webull, E*TRADE, and TD Ameritrade.
Its 10+ million monthly active users can choose between investing in stocks, options, ETFs, and cryptocurrencies, all without trading fees. One drawback of Robinhood is the limited availability of investment options – including mutual funds – compared to its competitors, E*TRADE and TD Ameritrade.
Want to know if you can trade mutual funds on Robinhood? Wondering about alternative investment platforms to invest in mutual funds? We’ve got you covered!
Can you trade Mutual Funds on Robinhood?
Unfortunately, you are not able to trade mutual funds on Robinhood! As of this writing, Robinhood doesn’t offer mutual funds trading.
It’s possible that Robinhood’s decision not to offer mutual funds aligns with its business strategy and its focus on delivering a straightforward, commission-free trading experience.
If you’re considering mutual funds, you may want to explore other brokerages or financial institutions that could provide them.
Which Products Can I Trade on Robinhood?
Best alternatives for investing in Mutual Funds
Brokers’ comparison table
|Broker||Minimum Deposit||Supported Mutual Funds||Available in the US?||US Mutual Funds Fees|
|Interactive Brokers||$0||Alternatives, Balanced, Bond, Commodity, Equity, Mixed Investments, Money Market and Stock||Yes||Lesser of 3% Trade Value or USD 14.95 per Transaction ( min. size on first order is $3,000 – $100 after it).|
|Fidelity||$0||Domestic Equity, International Equity, Sectors, Fixed Income, Asset Allocation, Index, Money Market||Yes||$0 and no minimums to invest (in fidelity mutual funds)|
|TD Ameritrade||$50 (electronic transfers); no account minimum||Money Market Funds1||Yes||In No-load Up to $49.95 or $74.95 ( funds from certain fund families) for buys;$0 for sells|
|E*TRADE||$0||Alternatives, Balanced, Commodity, Domestic Equity, Life cycle, Money Market, Municipal Bond, Municipal State Bond, Non-traditional Equity, Specialty, Taxable Bond||Yes||For load funds depends on the fund. For No-load, it is $0.|
|Charles Schwab||$0||Index, Active Equity, Bonds, Asset Allocation||Yes||Up to $74.95 and $0 in Charles Schwab|
|Ally Invest||$0 for Self-Directed brokerage cash account; $2,000 for Self-Directed brokerage margin accounts.||Bonds, stocks and other types of securities||Yes||Subject to charges from mutual fund|
1Since TD Ameritrade was acquired by Charles Schwab, you can invest in other categories of mutual funds through a Schwab account.