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May 6, 2024 · Robinhood's trading platform gets relatively high marks for its advanced charting features, which allow customers to view technical indicators like moving averages.
- Robinhood
Apr 12, 2024 · 4.4 out of 5. Fees. 5.0 out of 5. Products & Accounts. 2.5 out of 5. Usability. 4.5 out of 5. Customer Support. 5.0 out of 5. How we score brokers. Account Minimum. $0.
- About Robinhood
- Ways to Invest with Robinhood
- Robinhood Fees
- Robinhood — Frequently Asked Questions
Robinhood is one of the best investment apps offering stocks, ETFs, fractional shares, options, and cryptocurrencies. Commission-free trading on Robinhood is available for stocks and ETFs. The platform also offers IRAs with up to a 3% match for every dollar you contribute to a Robinhood IRA. Only Robinhood Gold members get access to the highest mat...
Stocks and Funds
Robinhood is best for active traders who place commission-free trades in stocks, options, ETFs, and cryptocurrencies. The brokerage accounthas no minimum size requirements for most of its investments, but you'll have to make minimum opening deposits for its fractional shares and margin trading offerings. You'll also need a portfolio balance of at least $25,000 for pattern-day trading. Robinhood offers fractional shares, meaning you can purchase portions of stock in companies without paying th...
Options
Robinhood's commission-free option trading includes a notable perk: no per-contract fees. Many brokers charge under $1 per options contract, and some platforms use tiered pricing structures that charge lower fees for more active traders and higher fees for less active traders. But with Robinhood, you'll incur no such fees. It's worth pointing out that options investing carries more risk than stocks and ETFs. Robinhood offers options risk disclosures on its website. And while Robinhood formerl...
Cryptocurrency
This platform's commission-free rule applies to cryptocurrencies as well. The Robinhood Crypto account feature lets you trade various digital currencies such as bitcoin, dogecoin, and ether. In total, Robinhood offers 15 different cryptocurrencies. This is a limited selection compared to exchanges (e.g., Kraken and Coinbase) that offer 100+ assets. However, the brokerage's selection could still be useful if it supports the asset you want to exchange. Use any funds deposited into your brokerag...
Robinhood has no minimum to open an account and start investing, plus there's a 0% fee. However, fractional shares have a $1 minimum and a $2,000 minimum requirement to access margin trading. To upgrade to Robinhood Gold, you must pay $5 per month. There's a 1.75% fee on instant debit card or bank account withdrawals.
How Robinhood Compares
Robinhood vs. Fidelity Fidelity is one of the top online brokers for automated investing, educational resources, investment options, and low-cost trading. Robinhood and Fidelity Investments both offer commission-free trading on multiple investment types. But you'll have a wider range of investment options at Fidelity than you will with Robinhood. Both companies offer stocks, ETFs, and options, but unlike Robinhood, Fidelity offers automated investing and advisor-managed portfolios for hands-o...
How Robinhood Makes Money
Instead of charging commissions, Robinhood makes money through payment for order flow. When a user makes a trade, Robinhood sends that trade to a third party that places many large orders simultaneously for a slight advantage. The larger company then compensates Robinhood. The brokerage also generates income from interest on securities and margin loans and with Robinhood Gold, a premium subscription service that charges a flat monthly fee. Finally,Robinhood also charges several fees for certa...
How to Minimize Robinhood Fees
When you open a Robinhood account, you're already avoiding fees that other brokerages charge. But if you want to minimize some of the other costs of using Robinhood, you can try the following. 1. Avoid the upgrade: Consider using the free account instead of upgrading to Gold service. 2. Research fees before buying: Before placing a trade or requesting any services, visit Robinhood's support page and look for information about fees and when they apply. 3. Search for in-network ATMs: You can wi...
- Robinhood
Apr 12, 2024 · Very easy to use. Allows cryptocurrency and fractional share trading. Instant access to deposited cash. Cons. App design may encourage active trading, which is not appropriate for most investors....
Feb 1, 2024 · Fees: 5.0 out of 5. Asset Classes: 4.0 out of 5. Tax Strategy: 2.0 out of 5. Overall: 4.5 out of 5 stars. >> Visit Robinhood. Robinhood has become the go-to investing app for the younger generation in recent years, largely due to its free trades and snazzy user interface.
- 16 min
- Robinhood
Robinhood reviews tend to be extremely positive or negative. We'll provide a balanced view of the pros and cons and explain who should and shouldn't use it.
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Is Robinhood a good investment app?
5 days ago · Pros. Cons. Free US stock and ETF trading. Great mobile and web trading platforms. Fast and fully digital account opening. Interest paid on uninvested cash. Limited product range. Poor customer support. Few educational materials. Robinhood. Overall score. 4.3/5. Minimum deposit. $0. Stock fee. Low. Options fee. Low. Inactivity fee. no.
