Robinhood Markets Trading Platform Review
Name: Robinhood
Website: robinhood.com
Price: Free
Hey guys! Today I will be doing a review of the Robinhood Trading Platform and their new app. You have probably seen ads lately informing you about their trading app that is easy to use, but is it the best online stock market trading platform? If you want to know more about it then look no further. I’ll cover everything you need to know here!
What is the Robinhood Trading Platform?
The Robinhood Markets Trading Platform is a financial system that helps people make money through online trading, not just the people that are already wealthy.
It is a trading platform that offers ZERO commission trading, which others charge for. Robinhood is fast, very simple to use, and you do not need a manual.
It is like binary options trading, which I’m sure you are familiar with. With binary options you bid on trades in the market and try to make money by guessing whether it will go up or down. However, there is NO GUARANTEE that you will make a lot of money doing this, contrary to what others may have you believe. Robinhood Markets Trading is different.
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How Does the Robinhood Trading Platform Work?
The Rodinhood Trading Platform shows you how to invest in the stock market as you build your own portfolio. When you correctly bid on stocks (whether they rise or fall) you make a profit. You can trade stocks, options, cryptocurrency, and exchange-traded funds.
With Robinhood you can discover new stocks through the Collections area, and track your favorite stocks in a news feed that is personalized for you based on your recent views.
The sign-up and account funding process is quick and painless. All you have to do is answer a few quick questions, fill out your personal information (contact details, social security number, and the means by which you will fund your account). If you are approved then you will be notified in less than an hour.
You can transfer up to $1,000 from your bank account right away. However, larger deposits will take 4-5 business days to process. you can also set up automatic deposits weekly, bi-weekly, monthly, or quarterly if you wish.
How Much Does Robinhood Trading Platform Cost?
The Robinhood Trading Platform has no fees, and the minimum amount of money you can have in your account is $0 . So if you are looking for a trading platform that will not cost any money for you to start investing, then you need to check out Robinhood.
Since there are no commission fees, you can trade and use Robinhood for trading as much as you want. This can save you TONS of money.
Robinhood has also cut out many other fees associated with trading. Such as service account fees, broker-assisted phone trades, and bank reversal fees went down to $9 (was $30).
The only thing you will have to pay for is the investment you want to purchase.
Robinhood does require a $2,000 minimum portfolio balance if you want to open a margin account, but this is the same thing that other brokers require (it is a Financial Industry Regulatory Authority regulation.)
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Robinhood Trading Platform Gold Option
The Robinhood Trading Platform offers a Gold option called Robinhood Gold. It offers investors the ability to trade on margin (a.k.a. borrowed money). There is a flat monthly fee based on margin (or “buying power”) and account size.
If you are new to this, then you should know that margin trading is very risky, because you are trading on money borrowed by the broker and you can lose more than you invest. (Here is more info on
how margin trading works
).
Support
The Robinhood Trading Platform offers limited customer support. With most brokers you can call them, email them, or send them a message. However, with Robinhood you only have the option of emailing them.
This can be a little frustrating, but then again you can trade as much as you want for free. So there is give and take. However, their Help Center answers most of the questions you may have.
Final Thought
The Robinhood Markets Trading Platform is, in my opinion, the best online stock market trading platform. It is a GREAT place for people to trade stocks, options, and cryptocurrency. It is easy to use their app and there are no commission fees so you can trade as much as you want.
Every broker has pros and cons, but I believe the people a Robinhood are doing their best to make trading and investing easy for everyone to do. Even though there isn’t a ton of training, it is a good place to start investing because it is free.
If you have any questions or have had experience with Robinhood, please leave a comment below!
Your Friend,
Karissa
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Hi Karissa,
Thanks for sharing your review of Robinhood markets. There are so many shady platforms that it’s tough to find the one you can trust. I believe that this trading platform is the right way for a beginner to learn the skill. My younger brother is browsing these companies. He’s interested in trading, and he learned a lot so far. He’s going to be involved in this article.
Thanks again for giving your honest opinion here!
Ivan
Thanks for the comment Ivan, I’m glad you can benefit from this information.
– Karissa
Awesome! Thanks for the comment 🙂
– Karissa
Robinhood trading platform is actually okay to know of right now, and I actually know that I will benefit by going over all that they provide here. It is very rare to see that they provide a free offer, plus the fact that I can join without paying anything to anybody.
Thumbs up to this. Thank you for opening my eyes to this opportunity.
Hi Karissa! I have seen this app before and I recognize it by it’s logo. It may be probably at Play Store while downloading apps. Recently a friend suggested it to me so I decided to research about it. I’m glad it’s mobile friendly (I spend most of the day connected to my phone) and that it’s free to join.
Hello Karissa,
I see this business idea as a really wonderful one, and the fact that it comes with an app and doesn’t have a fee to joining makes its really cool. I understand everything you have mentioned here but I’m a bit confused about the cryptocurrency aspect.
How does one exchange cryptocurrency with it?
Hello Benson,
With Robinhood you can trade Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. You can also buy and sell these cryptocurrency. It is called Robinhood Crypto, and you can learn more about it here!
I hope this helps!
– Karissa
Thank you for reviewing the Robinhood trading platform. It is a very detailed analysis of this binary type platform, and it showed the ordinary person how to get involved in market trading. Basically the system teaches people how to bid on stocks and shares, depending on the direction that you bid (ie up or down) will determine whether you make a profit or not. It is a commission free platform with no minimum to deposit in the account, it does seem to lack research and trading tools, the platform seems to be for frequent traders or those that use their mobile phones to trade.
Well done,
Fintan
Thanks!
– Karissa
It is good to see what this Robinhood trading platform is providing. I really think that they offer some excellent features, especially having to start with nothing. That is awesome to me because most brokers require a particular amount to get started with them.
Knowing this, I think they are a good place for me to start with and to trade.
It is not so often that we see online platforms where one can really make trades that doesn’t require payments. I am honestly very happy to have found this one. This Robinhood trading platform really goes exactly by its name, by not taking any money for trades. It has some cons that one needs to be wary of, but since we are not charged in the first place, its all good.