Robinhood Offers Easy (and Free) Stock Trading
iOS: If you want to buy or sell shares, you usually have to pay a commission. At $ 7 to $ 10 per transaction, they can add up. Robinhood eliminates those fees by offering free stock trading that is incredibly easy.
Generally, we prefer to invest in funds on a ‘set and forget’ basis rather than investing in individual stocks. Robinhood allows individual stocks and exchange-traded funds (ETFs) to be traded right now, but they hope to offer trading with index funds soon . If your investment strategy involves trading individual stocks or ETFs, you’ll love Robinhood’s simple approach.
This is a legitimate brokerage firm, so you will have to register for an account. This means that you provide your address and social security number, and in order to fund your account, you will need to link your bank accounts. There is no minimum account and no minimum investment. And again, it’s free – you pay zero commission on all your trades.
You can search for stocks and then buy and sell them right from the iPhone app, which also gives you a daily summary of all your assets. The Android app is also in development and you can request access to the Android beta here .
The site uses bank-level security and all data is encrypted whether you access your account on a computer or phone. They are also members of the 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 see for yourself Robinhood, follow the link below.