Robinhood Markets

support@robinhood.com
Palo Alto, California, USA

Robinhood is a FREE "No Commissions" Broker. The first of it's kind! Unfortunately, it appears Robinhood made the decision to go with zero commissions at the sacrifice of features that have been standard on every broker for many years.

Pros

  • No commissions
  • No account minimums
  • Ease of use
  • Streamlined interface

Cons

  • Limited securities
  • Only offers individual taxable accounts
  • Lack of tools and resources
  • No broker transfers

Robinhood is best for

  • Frequent stock or ETF traders
  • Mobile users
  • Individual taxable accounts

Robinhood does what it promises: It allows users to trade a large number of stocks and ETFs for no commission. It’s a stripped-down means of trading that is easy to use and easy to access, with a $0 account minimum and quick sign-up process. The company seems to be actively working to add more features, so it’s certainly a service to watch — and it’s worth considering today if you have your retirement account(s) funded and want to dabble in the stock market without incurring commission charges.

Founded in: 2013
Licensed:
Platforms: Robinhood Mobile Platform, Robinhood Gold Mobile Platform
Capital:
Fees:
Broker: 0
Exchange:
Withdrawal:
Minimum Deposit: 0

Mobile Trading

User Reviews

Paul

I have been using Robinhood for nearly three months now. I was also attracted to the zero commission structure they have. At first, I felt that having to wait 3 days for funds to settle was a pain but then I looked at it in a positive light. It forces you not to go all in but spread your capital across a weeks worth of trading. Since then though, I have upgraded my Robinhood account to Robinhood Instant. This allows you to have instant access to your trading capital without having to wait the 3 days for funds to settle. You’re still limited by the PDT rule but overall I think Robinhood is a good tool for those with small accounts. Probably one of the worst factors since I have used Robinhood is technical issues. Twice I have been in a trade where I was unable to get out of it because the app was experiencing technical difficulties. Very dangerous for short term trading! Overall, I think Robinhood could be really great for swing trading and could potentially be good for a little part time day trading but then again, they didn’t design to app to be used by day traders.

RossCameron
Hey Paul! Thanks for the comment. Good feedback!! Keep up the hard work trading
Mike

You can use Robinhood for stocks with the highest implied volatility and flip coins on binary events and earnings announcements for a living, if you'd like.

Dick

I was skeptical about Robinhood, but after a few months, I find it's a great alternative to discount brokerages, but only if you're doing very basic investing (think buy and hold) and can do your due diligence elsewhere. You also have to think ahead when depositing funds to Robinhood. It can take 3-5 days for funds to become available even with Robinhood Instant. So, while there's no minimum deposit, you'll want to fund your account based on that. With Robinhood Instant proceeds from trades are immediately available. Dividends are announced and paid on time. Documents and statements are available via the app in pdf format. Unfortunately, you cant transfer holdings from another brokerage into Robinhood, yet, but you can transfer your holdings away from Robinhood. Obviously, this is still a work in progress and I look forward to seeing where it goes from here. Anyway, if you know how to place an order, place limit orders, etc, (and who doesn't :-), and have no interest in day trading, Robinhood may be for you.