Robinhood Offers Simple (and Free) Stock Trading
iOS: If you want to buy or sell stock, you usually have to pay a fee. At $7-$10 per transaction, they can add up. Robinhood eliminates these fees, offering free stock trading that’s incredibly simple.
Generally, we’re fans of “set and forget” investing with funds, rather than individual stock investing. Right now, Robinhood lets you trade individual stocks and exchange-traded funds (ETFs), but they’re hoping to offer trading with index funds soon. If your investment strategy includes trading individual stocks or ETFs, you’ll enjoy the simple approach of Robinhood.
They’re a legitimate brokerage firm, so you’ll have to sign up for an account. This means you’ll provide your address and social security number, and to fund the account, you’ll have to link your bank accounts. There’s no account minimum, and there’s no investment minimum. And again, it’s free—you pay zero commission for any and all of your trades.
You can search for a stock, then buy and sell it directly from the iPhone app, which also gives you a daily summary of all of your holdings. An Android app is also in the works, and you can request beta access for Android here.
The site uses bank-level security, and all data is encrypted, whether you access your account on your computer or phone. They’re also a member of Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), so your securities are protected up to $500,000. You can read more about their security measures here.
To check Robinhood out for yourself, head to the link below.
Video and screenshot courtesy of Robinhood.com.
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Robinhood Offers Simple (and Free) Stock Trading
