Robinhood Review: Now It’s Possible To Buy/ Sell Cryptocurrencies Using Robinhood Platform!

The character Robin Hood as a heroic outlaw who stole from the rich and passed those stolen treasures on to the poor. Robinhood – the investing app – is built on a similar philosophy: that everyone should have access to investing tools.

By offering commission-free trading, they make investing available for those of us who don’t have overflowing treasure chests in homes.

Here’s full review of Robinhood, so you can decide whether it is right for you!

Ready To Start Using Robinhood? Click Here To Sign Up Today! Hooray!

What is Robinhood?

Robinhood targets the Millennial speculatorinterfacing with more youthful customers who need to urge begun in contributing. The originators had involvement in building venture stages, and they begun Robinhood with the objective of making contributing accessible to more than fair the wealthiest Americans.

How does Robinhood work?

Robinhood is offering free stock to every new member. No need to deposit any money!

Robinhood promises a one in 150 chance of getting a high-value stock like Facebook or Microsoft for free.

Robinhood Review: My Experience As A Beginning Investor - Hi there!

The signup was easy. Just provide name and email address and set a password. Then you are directed to a page requesting a mailing address. This information is required by the federal government when signing up consumers to new financial accounts.

Ready To Start Using Robinhood? Click Here To Sign Up Today! Hooray!

Robinhood Review: My Experience As A Beginning Investor - Mailing address

Next, you’ll have to provide your Social Security #. As with your address, this type information is required by the federal law.

Robinhood Review: My Experience As A Beginning Investor - Verify your identity

Robinhood also asks for your personal investment experience level. You could choose “None” if you’re a beginner, but you can also choose from:

  • Not much.
  • I know what I’m doing.
  • I’m an expert.

Robinhood Review: My Experience As A Beginning Investor - Personal information

To proceed, you’ll ought to store a few cash. There’s no charge to move money in and out of Robinhood, and you don’t have to be contribute any of that cashThere’s no least necessity to finance your account, but protections as it were covers up to $500,000.

Robinhood Review: My Experience As A Beginning Investor - Fund your account

Following, you’ll ought to select your bank account from the list and log into it to form the association.

 

 

Ready To Start Using Robinhood? Click Here To Sign Up Today! Hooray!

Robinhood Review: My Experience As A Beginning Investor - Choose your bank

If Robinhood can’t process your information based on the data provided, you’ll ned to upload a photo of your most recent government-issued Identification in order to set up an account.

Pricing for Robinhood

Robinhood provides its services commission-free, but there are some hard-to-avoid fees associated with trading. There are also no fees to maintain your account or transfer funds.

There are a few third-party fees Robinhood passes on to you:

  • SEC fees – $22.10 per $1,000,000 of principal for sells only.
  • FINRA trading activity fee – $0.000119 per share (equity sells) and $0.002 per share (options sells). Maximum fee: $5.95.

If you upgrade to an additional feature of Robinhood Gold, you’ll pay $5 every 30 days in addition to interest on your margin trades.

If you use more than $1,000 of margin, you’ll pay 5% yearly interest on the amount you use that is above $1,000.

Ready To Start Using Robinhood? Click Here To Sign Up Today! Hooray!

Robinhood features

Robinhood is one of many great apps out there that make trading relatively easy. Here are some features that set Robinhood apart.

Easy-to-use interface

One of the greatest offering focuses of Robinhood is its portable app. You’ll be able see, at a look, how each of your investments is performing. With fair many taps on your screen, you’ll be able buy or offer an resource.

No commissions on trades

Robinhood makes its money in various of ways:

  • Selling trades to different firms
  • Robinhood Gold, a suite of powerful investing tools, which starts at $5 a month
  • Rebates from market makers and trading venues
  • Income generated from cash
  • Stock loan income from counterparties
  • Interchange fees from purchases made with the Cash Management debit card, and fees from program banks

This is a common practice among online brokers and means that you, the investor, can trade without commissions and fees.

Cryptocurrency trading available

If you’re interested in dipping your toe in the pond of cryptocurrency investing, Robinhood can help. Using their platform, you can trade Ethereum, Bitcoin, Dogecoin, and more.

Watchlists

Some time recently making a choice almost whether to contribute in a stock, it can offer assistance to screen it for a whereas. Robinhood makes it simple by letting you include resources to a watchlist. Basically hunt for a stock by name and tap the Include imageAt that point you’ll be able keep an eye on it whereas you choose whether to form a move.

News and market monitoring

As soon as I started investing, I became intensely interested in what the markets were doing. Robinhood provides a newsfeed to help me keep up with the news directly in the app.

There’s also a newsletter and podcast, called Daily Snacks, that provides news in an accessible, easy-to-understand format.

Alerts and notifications

Set up notifications so that you will know as soon as there’s significant activity on your account. You customize these notifications in the app’s settings. Set your preferences for Dividends, Bank Transfers, Orders, and Price Movements.

Ready To Start Using Robinhood? Click Here To Sign Up Today! Hooray!

While Using Robinhood

After signup, you are given a Robinhood Instant Account, which is a margin account. New members start here and then could upgrade to higher tiers as they get comfortable with the platform. The Instant option is free to use, with no commissions charged on the amount you trade. You also aren’t required to keep a minimum amount in the account.

Robinhood Review: My Experience As A Beginning Investor - Robinhood app

Robinhood Review: My Experience As A Beginning Investor - Robinhood Gold

Margin traders

If you’re interested in margin trading, you can upgrade to Robinhood Gold. You’ll have access to $5,000-$50,000, depending on your account balance at the time you make a deposit into your Robinhood account.

On the off chance that you utilize more than $1,000 of edge, you’ll pay 5% yearly interest on the sum you utilize over $1,000.

New investors

As a newbie speculator, I found the interface exceptionally simple to utilize. I adored that I didn’t need to make a least commitment to begin contributing. I didn’t got to contribute at all. It liberated me up to undertake the stage out some time recently I made my to begin with little speculation.

Market researchers

With Robinhood, you can learn as you invest. The tools make it easy to research the stock market and various investments. I especially love the podcast, which lets me catch up on the latest financial news while I’m doing other things.

Who shouldn’t use Robinhood?

Retirement savers

If your goal is to set up an investment account to set aside money for retirement savings, Robinhood won’t be the best platform for you. Robinhood doesn’t offer any retirement savings options.

Those interested in dividend reinvestment

You won’t be able to reinvest any profits you make through Robinhood. Those reserves are credited as cash, so you’ll ought to coordinate the stage where to spend them.

Bond and mutual fund investors

In spite of the fact that it’s extraordinary that you simply can contribute in cryptocurrencies, you can’t utilize Robinhood to contribute in mutual funds or bonds. In the event that you’re seeking out for a stage for those speculations, you’ll got to keep looking.

 

Ready To Start Using Robinhood? Click Here To Sign Up Today! Hooray!

 

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