Robinhood is a free-trading app that lets investors trade stocks, options, exchange-traded funds and cryptocurrency without paying commissions or fees. In its early stages, Robinhood stood out as one of the only brokers offering free trades. But now that nearly all big-name online brokers have eliminated trading commissions and fees, Robinhood has had to find other ways to stand out. The latest examples: A new recurring investments feature and the ability to purchase fractional shares of stocks. Currently, it's also one of the few brokers that gives investors the opportunity to trade cryptocurrency.

Robinhood offers commission-free US stock trading without withdrawal and inactivity fees. Its mobile and web trading platforms are user-friendly and well designed. Account opening is seamless, fully digital and fast.

On the downside, Robinhood provides only a limited selection of assets, focusing mostly on the US market. Customer support is available via e-mail only, which is sometimes slow. The educational material lineup is slim.