Formally known as Robinhood Financial, LLC , the Robinhood app takes from the rich and gives to the poor. Well, no it doesn’t do that; it just allows you to make stock trades for free. Robinhood is a no-frills stock broker with no minimum deposit.
To access the service you need to install an app on your iPhone, iPad, Apple Watch or Android smartphone. A web-based interface is something that’s planned in the future but currently has no ETA.
Based on the limitations and focus, Robinhood is obviously catering to the Millennial crowd, with their smartphone being their primary computing device. Millennials typically do not want any of the additional bells or whistles that come with a traditional discount broker.
Pros
Cons
| Status | |
| Foundation Year | 2013 |
| License | |
| Trading Platforms | Robinhood Mobile Platform, Robinhood Gold Mobile Platform |
| Reliability Rate | B- |
| Authorised Capital | |
| Brocker Fee | 0 |
| Exchange Fee | |
| Withdrawal Fee | |
| Minimum Deposit | 0 |
| Mobile Trading |
| Phone: | [email protected] |
| Address: | Palo Alto, California, USA |
| Website: | https://www.robinhood.com |
Robinhood is a great way to buy stocks w/o pesky commission fees which can really add up. All the other brokers charge $5 - $10 per trade. In addition, Robinhood does not require a minimum deposit. After a while, you will have a nice collection of stocks from different companies; it's like owning your own custom made ETF. Robinhood will often offer research articles associated w/ your stocks of interest. After funding your Robinhood, you get to buy stocks immediately, up to $1000; no need to wait several days for the funds to settle. A very nice touch. The stock charts look great, have good functionality, and are very useful. During trading hours, the app offers real time stock prices & lightning fast trades that get executed almost immediately. Not bad for the price of free!
  Packer2020   2016/10/11 19:27    
While its minimalistic design is what I like most about Robinhood, I'd like to see the two following features added: 1) The ability to see individual stock values from portfolios (you'd think this would be standard so maybe it's just hard to find) 2) Trailing stop orders- the lack of this feature might be the only thing that keeps me connected to my Sharebuilder account A perfect app for novice to more experienced traders, or should I say investors, since there's a frustratingly strict limit on the number of trades the average Joe can make in a 5-day period. Overall though, I'm super pleased!
  Brendan227   2016/10/11 19:27    
Robinhood has totally changed the way you can invest by removing the fee per trade - which means you can even spend as little as 100$ on a trade which was not feasible before. The ability to make small trades over a long period of time has turned out to be so helpful and I can never imagine going to back to the old style of trading. Also, check out robinhood gold if anyone's willing to go the extra mile !
  Sanjay_verghese   2016/10/11 19:27    
This app makes investing in stock fun, free, and easy. Man, that sounds canned. It really does, though. The articles and blurbs are super helpful starting points for research. I kinda wish they included Betas, though. Not a huge thing, bc Yahoo Finance includes them, but I think of it as a crucial metric, even before looking further into a company. Also, I wish it meshed with Intuit's Mint. Idk who to complain to about that, but I wish that they cooperated.
  RaphaelDean   2016/10/11 19:27    
Needs a way to group my portfolio stocks into custom groups such as ones I'm day trading, and ones I want to go long on. Also needs way to see the original price I bought a stock for. Add these simple features and I will rate 5 stars. Update: they added overall gain loss sort which was a huge improvement
  GregoryDunbar   2016/10/11 19:27    
Easy, fast, and simple to use. Like the color differences along with the direct info given for each stock. Also like related articles given and lows and highs. Best part is that it is free and they trust you with instant trading and the new gold feature with no interest.
  DrewGay   2016/10/11 19:27    
I love the app. I have never traded before in my life. The reason for only three stars? It has one big achille's heel. No trailing stop orders. It makes you a slave to the app in a way. I have been reading and learning and as a defencive contrarian investor a combo of stop loss and trailing stops are essiential for profit locking and investment protection. When they add those features i will be singing praises of them. Robinhood gold is too risky for me without trailing stops.
  JeremyBlacane   2016/10/11 19:27    
I haven't used a lot of other trading apps, mainly because of the high costs associated with trading. RH of a great app and with the new Gold packages and instant transfers it's getting better all the time.
  WillSlade   2016/10/11 19:27    
It wants me to take a photo of my legal ID. When I try to do it the camera just freezes and I can't even send anything. After trying over and over I finally was able to take a photo. Then I had to wait over a week for them to tell me the photo isn't clear enough. Well I tried to message them several times and all I get is a stupid message saying here is your account number thank you. Anyways they want me to take a picture of my ID again but it just freezes. This app sucks and their service sucks.
  EdwardDewey   2016/10/11 19:27    
This trading platform saved me at least $12000 a year in trading fees. I hope they will stay for years to come. Negative issue is NO SHORT SELL. Hope they will implement that in the near future.
  anthony_trinh   2016/10/11 19:27    
Free transactions are a dream for new traders like me. Don't have to worry about making a bad trade and losing the extra $10 on top.
  BenjaminTeuchert   2016/10/11 19:27    
One of the great initiative of our present time. I am so happy to use this app to make money without any fee, any commission to brokerage. I'll be more than happy if RHood can add a little better chart & Asking price & Bitting price. Hoping will get that soon. Thank you RH...
  JALAL_U._LITON   2016/10/11 19:27    
Robinhood is by far the best trading app around at the moment. This no frills trading company gives you easy access to the stocks that you want to trade. Unlike competitors such as Scottrade there are no fees per transaction so you are free to diversify your portfolio as much as you want. The app is free and is very open about how they money. There is a Gold pay version with some nice perks, however it has no bearing on the base program. I do wish there was a computer access portal however that may change.
  XanderJ   2016/10/11 19:27    
I don't rate things much but I really like this app so easy to use. Well Done Update....still love this app however it is a bit addicting. I love being able to buy stock in small quantities, I am building up some some savings and having fun doing it. If you want to play in the stock market a little I highly recommend this app.
  MarkGates   2016/10/11 19:27    
It would be great if we could actually have some reference points on the graphs. And it would be nice to have the ability to short stocks . You could just make users pay when they do shorts
  TylerGibbs   2016/10/11 19:27    
Very easy to use. No fees makes it more welcoming to first time investors. Glad I got it.
  JoshuaCarmichael   2016/10/11 19:27    
Just about the app, not the service: This app shows off Android about as well as any -- it's beautifully done. The service seems pretty neat also, but I haven't used it long enough yet to fully assess.
  ChristopherCarr   2016/10/11 19:27    
Hi Christopher, Thanks so much for your kind words! Building a great app for customers like you is what keeps us going. :) If you have any more love to share, we'd love for you to send us your Robinhood story by emailing [email protected]. Let us know if you have any questions and have a great day!
ChristopherCarr 2016/10/11 19:27
Legal gambling. Invested in value stocks just to see what would happen. Not for serious traders. Good way to learn about the market.
  CoreyLeCureux   2016/10/11 19:27    
No 3 day hold on your money no charges you get all the prophet it's a win win I'm at 1.4% intrest in the first week will Update my status
  JustinStone   2016/10/11 19:42    
Easy to use and intuitive, but limited charts and historical information. Need to have other sources instead of just the app
  john_mathew   2016/10/11 19:42    
Truly free trading of top name stocks is just what I was looking for and this is the only app that delivers it! Trades in real-time with no delays. Works just as I hoped, thank you!
  R.Wheeler   2016/10/11 19:42    
This app does not include countless fancy features but it performs well and fulfils its purpose
  JeremyPowers   2016/10/11 19:42    
Weather a beginner or expert trader, this app is great for managing, purchasing and selling stocks. The information provided is spot on and the options for how you manage and trade are excellent. Great app!
  MadkinKelly   2016/10/11 19:42    
Show me my history with a stock (time and price of purchases/sales) on that stock's page, not just in the history tab. That's the only improvement I can think of.
  DanaduPuis   2016/10/11 19:42    
Love this app, love how easy it is to buy and sell! I totally recommend it.
  JoshuaBaker   2016/10/11 19:42    
Sold my shares with no reason at all. Gave me an hour notice saying they needed to sell some shares at a lose. Asked why been over a week still haven't heard anything. Must be how they make their money control. Bid and ask is delayed by a few minutes.
  MattHardin   2016/10/11 19:42    
Sleek, simple, and very user friendly! This app has a lot of potential. Can't wait to see what features and updates will be added next.
  rodge_williams   2016/10/11 19:42    
RH has a low cost competitive platform. Get in the game and make some $.
  JohnJackson   2016/10/11 19:42    
This app works beautifully but it did take a while to get my account to get approved. Worth the wait though!
  NavjotGill   2016/10/11 19:42    
It is very easy to use. Love the notifications when the stocks I am interested goes up or down significantly
  NedimYel   2016/10/11 19:42    
Great app to do any trading or investing. It is just what I have been wanting for years. Free transactions!
  ReidBland   2016/10/11 19:42    
Easy to use with a sleek design and simple menu. Absolutely love this app.
  AndrewK   2016/10/11 19:42    
Easy to use great for entry level investors wish they had a little more customizable graphs though
  TrevorKrieger   2016/10/11 19:42    
Great app that makes it easy to do some day trading and make a few extra dollars.
  RoyCoffin   2016/10/11 19:42    
Buy and sell without fees! You can literally make a living from your phone.
  TylerFeldstein   2016/10/11 19:42    
Every stock trader should be using this, period.
  KyleJ   2016/10/11 19:42    
I just wish there were a desktop version!
  NicholasJohnson   2016/10/11 19:42    
Put your money in stocks rather than savings! Learn to build upon your assets!
  BenKappler   2016/10/11 19:42    
30% return to capital in 3 months, hire me Goldman Sachs
  EricChen   2016/10/11 19:42    
Real stock trading with real money, but for free! Can't beat it
  DuncanPloetz   2016/10/11 19:42    
Nice app with no hidden fees and handles basic trading well
  SrinadhB   2016/10/11 19:42    
Very Detailed for my needs closing my acorn account thank you so much
  MarkSingleton   2016/10/11 19:42    
Had everything I need to invest and attain some great information.
  guest   2016/10/11 19:42