Robinhood’s Free Stock Trading App Is Now Available on Android
Android: Most brokerages charge you a fee every time you buy or sell a stock or ETF. Robinhood, however, allows you to trade for free and is finally now available for Android users as well as iOS users.
In addition to charging a $ 0 fee on trades in US-registered securities, the mobile app also has features such as a quick view of your portfolio and personal watchlist, real-time market data and quotes, and a quick login with using a custom PIN. All data is encrypted and your securities are protected by SIPC, which covers up to $ 500,000.
Since its public launch in March on iOS (and via a waitlist in November ), the company says it has processed over $ 1 billion in transactions and saved the community over $ 22 million in commissions.
As usual with free products that sound too good to be true, you might be wondering where the catch is. The company claims to make money in much the same way as traditional brokerage firms, collecting interest on uninvested customer balances as well as those who decide to switch to a margin account.
Robinhood | Google games