- STP Algo Trader
- Posts
- A Next Generation Broker For All Generations
A Next Generation Broker For All Generations
Vol. 1 Issue 56: STP Algo Trader - User Blog

Welcome back to STP Algo Trader User Blog!
Each week, we'll bring you a unique perspective from a team member or a STP user.
Now, let’s dive into this week’s issue, brought to you by team member and amateur trader, Jessica Cadby.
Happy Wednesday!
As you may remember from a previous article of mine, I was lucky enough to start my investing career at the age of 10. My dad opened E-Trade accounts for both me and my brother, seeding each with a very grown-up $1,000.
It was an exciting moment… even if I had absolutely no idea what I was doing! He sat us down and told us to pick companies we knew, loved, and believed in.
My brother went the responsible route—he picked Caterpillar, among others. Strong, solid, industrial.
Me? I had a more... imaginative portfolio. I’m not saying it was terrible, but let’s just say Apple saved the whole operation from becoming a cautionary tale.
My account has stayed with me ever since. Over time, E-Trade became familiar, like an old hoodie you can’t part with.
Its safe for you to assume that I didn’t have any input on which brokerage to use when I first started—let’s be honest, I was 8, so I probably would’ve gone with something that had an cute animal mascot rather than understand which features mattered.
Fast-forward to January of this year, when my Papa (grandfather)—also an investing enthusiast—decided to jump into AI stocks with some “gamble money.”
He handed me the reins and told me to go for it. That gave me the perfect opportunity to try out a new brokerage—without actually moving my own money over.
Enter: Robinhood.
Why I Chose Robinhood for Papa’s AI Gamble Account
Deciding a brokerage isn’t necessarily straight forward. Every platform constantly markets how great they are, and half the time the fine print is in size -4 font. But I had been curious about Robinhood.
Its gain in popularity and some features I didn’t have access to through my E-Trade account caught my eye.
It seemed they were doing it differently than old the “old and out-of-date” familiar brokerages. Not to mention I’ve also been an investor in their stock (HOOD) which has been a BEAST.
I figured it was a good time to test it out.
There were a few features I liked right away:
4% APY on cash – Compared to my 0.2% with E-Trade? Yes please.
Access to IPOs – With the recent success in IPO’s, the ability to get in on IPOs like Airo and Circle was incredibly appealing.
Crypto trading – I liked the idea of having my crypto and stocks in the same account.
Life With Both: Robinhood Gold vs E-Trade
So now I have two brokerages in my life: my old faithful, E-Trade, and the flashy new one, Robinhood Gold.
Here’s what I’ve learned:
Robinhood is simple. The app functions are comprehensive to its desktop platform and both are very user-friendly. I didn’t need to dig through a bunch of menus, or Google how to find something.
It’s the fast food of brokerages— quick, limited in menu items, and no ingredients you need to ask the waiter what the heck it is.
That said, its simplicity is a double-edged sword. As someone who actively trades and wants more than just the basics, I often find Robinhood’s tools to be limited – even with being a member of their premium service at $5 per month.
Here’s a graphic from their website showing the “perks” of Robinhood Gold vs their free version:

It doesn’t offer the same level of depth as E-Trade—especially when it comes to advanced trading tools, research reports or retirement accounts. It’s kind of like trading on training wheels. Might be great for getting started, but not ideal when you're trying to ride with the big kids.
E-Trade, on the other hand, is like a Cheesecake Factory.
The menu is huge, the portions are generous, and if you know what you’re doing, you can get exactly what you’re looking for. But it can definitely feel overwhelming for a first-timer. You need to know what you want and where to look, or you’ll end up reading the menu for 45 minutes and still not know what to pick.
E-Trade offers pretty much all of the tools and features that comprehensive brokerages do.
I can dive deep into earnings reports, screen stocks by 10 different factors, and access third-party research beyond Morningstar – just to name a few things that blows away Robinhood.
The tools are robust and designed for people who like to dig.
IPOs and Crypto: A Mixed Bag
One of Robinhood’s most exciting features for me was the chance to get into IPOs.
I got access to the Airo IPO this year. Cool, right? Except… I only got a teeny-tiny slice of the shares I requested. They say it’s a random allocation, but the amount of shares given depends on a number of things that I’m not quite clear on.
It has actually left me pretty disappointed. I couldn’t get a enough shares to create much profit and if I sell it before 30 days, my access will be restricted on future IPO’s
As for crypto—yeah, it’s awesome that you can hold Bitcoin and Ethereum alongside your stock portfolio, but not something that would substantially influence my decision to make the switch.
Final Thoughts
If you're thinking about switching brokerages, my advice is simple: do your own research.
Don't just jump to Robinhood because it looks good or your friend told you it's "the future." It has some great features, but it's not as comprehensive as E-Trade, Fidelity, or Schwab.
My papa’s account is staying in Robinhood.
This is mostly to avoid transfer fees, access IPO’s and keep the 4% APY on his cash that is yet to be deployed – but, also have first-hand access to new features. They’re constantly working on development and adding tools to their growing tool box.
As far as my account goes, I’m staying loyal to E-Trade. It’s the platform I know, its comprehensive, and has the tools I need as a frequent trader and long-term investor.
Until next Wednesday… stay patient, stay hungry.
What did you think of today's newsletter?Your feedback helps us create the best newsletter possible. |
What is your experience with brokerages? Drop a comment, let us know in the WhatsApp chat or email us at [email protected].
If you’d like to contribute a piece, email us at [email protected].