Robinhood Alternatives—How To Open an Account With Cash App and E-Trade

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Soo Kim is a Newsweek reporter based in London, U.K. She covers various lifestyle stories, specializing in travel, health, home/interior design and property/real estate. Soo covered the COVID-19 pandemic extensively from 2020 to 2022, including several interviews with the chief medical advisor to the president, Dr. Anthony Fauci. Soo has reported on various major news events, including the Black Lives Matter movement, the U.S. Capitol riots, the war in Afghanistan, the U.S. and Canadian elections, and the 2020 Tokyo Olympics. Soo is also a South Korea expert, covering the latest K-dramas—including the breakout hit Squid Game, which she has covered extensively, including from Seoul, the South Korean capital—as well as Korean films, such as the Golden Globe and Oscar-nominated Past Lives, and K-pop news, to interviews with the biggest Korean actors, such as Lee Jung-jae from Squid Game and Star Wars, and Korean directors, such as Golden Globe and Oscar nominee Celine Song. Soo is the author of the book How to Live Korean, which is available in 11 languages, and co-author of the book Hello, South Korea: Meet the Country Behind Hallyu. Before Newsweek, Soo was a travel reporter and commissioning editor for the award-winning travel section of The Daily Telegraph (a leading U.K. national newspaper) for nearly a decade from 2010, reporting on the latest in the travel industry, from travel news, consumer travel and aviation issues to major new openings and emerging destinations. Soo is a graduate of Binghamton University in New York and the journalism school of City University in London, where she earned a Masters in international journalism. You can get in touch with Soo by emailing s.kim@newsweek.com . Follow her on Instagram at @miss.soo.kim or X, formerly Twitter, at @MissSooKim .Languages spoken: English and Korean

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With GameStop stock trading suspended on Robinhood, as well as on Webull, some users may be looking to open accounts with other trading apps such as Cash App and E-Trade.

GameStop, which has seen a recent surge in stock value driven by investments from users on the subreddit r/WallStreetBets, saw its share price climb by 134.84 percent on Wednesday, reaching $347.51 at the close of the market.

How to open an account at Cash App and E-Trade

Cash App

Users can also open a Cash App Investing account from Cash App, the mobile payment service, for stock trading. Users will need to download Cash App from either the Google Play Store for Android phones or the App Store for iPhones to set up a Cash App Investing account.

Cash App Investing accounts, which are only available to U.S. residents, charge no commission fees when you buy or sell stock.

To open an account, you must be 18 or older and be able to provide the following information, according to the Cash App Investing website:

  • Full name
  • Date of birth
  • Social Security number
  • U.S. residential address
  • Employment status and name of employer

"Cash App Investing is required to collect this information in order to verify your identity and comply with applicable regulations. Cash App Investing accounts are self-directed individual brokerage accounts. All other account types, including trading on margin, are not supported at this time.

"While Cash App Investing does not charge any fees per trade, there may be fees assessed that are required by government agencies (such as the SEC [U.S. Securities and Exchange Commission]). We will disclose these fees prior to your confirmation of a trade and they will be listed in the trade confirmation," Cash App advises.

E-Trade

Users can also buy or sell stocks using E-Trade, which takes "$0 commissions for online US-listed stock, ETF [exchange traded fund], and options trades," according to its website.

Users can set up a new E-Trade account by clicking on "open an account" on their website and following the prompts thereafter.

The website notes: "When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also utilize a third-party information provider for verification purposes and/or ask for a copy of your driver's license or other identifying documents."

Smartphone apps Washington, D.C. January 2021
The Robinhood stock trading app seen on a smartphone in Washington, D.C., pictured on June 24, 2020. With GameStop stocks no longer available for trading on Robinhood, some users may be looking to set up... Getty Images
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About the writer

Soo Kim is a Newsweek reporter based in London, U.K. She covers various lifestyle stories, specializing in travel, health, home/interior design and property/real estate. Soo covered the COVID-19 pandemic extensively from 2020 to 2022, including several interviews with the chief medical advisor to the president, Dr. Anthony Fauci. Soo has reported on various major news events, including the Black Lives Matter movement, the U.S. Capitol riots, the war in Afghanistan, the U.S. and Canadian elections, and the 2020 Tokyo Olympics. Soo is also a South Korea expert, covering the latest K-dramas—including the breakout hit Squid Game, which she has covered extensively, including from Seoul, the South Korean capital—as well as Korean films, such as the Golden Globe and Oscar-nominated Past Lives, and K-pop news, to interviews with the biggest Korean actors, such as Lee Jung-jae from Squid Game and Star Wars, and Korean directors, such as Golden Globe and Oscar nominee Celine Song. Soo is the author of the book How to Live Korean, which is available in 11 languages, and co-author of the book Hello, South Korea: Meet the Country Behind Hallyu. Before Newsweek, Soo was a travel reporter and commissioning editor for the award-winning travel section of The Daily Telegraph (a leading U.K. national newspaper) for nearly a decade from 2010, reporting on the latest in the travel industry, from travel news, consumer travel and aviation issues to major new openings and emerging destinations. Soo is a graduate of Binghamton University in New York and the journalism school of City University in London, where she earned a Masters in international journalism. You can get in touch with Soo by emailing s.kim@newsweek.com . Follow her on Instagram at @miss.soo.kim or X, formerly Twitter, at @MissSooKim .Languages spoken: English and Korean

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Soo Kim is a Newsweek reporter based in London, U.K. She covers various lifestyle stories, specializing in Read more