Robinhood Reviews

Robinhood.com is a self-directed investment platform that offers a range of features and benefits:

• Free Trading Services: Robinhood offers commission-free trading of stocks, options, ETFs (exchange-traded funds), and ADRs (American Depositary Receipts). It also supports cryptocurrency trading.

• No Minimum Deposit: There is no minimum deposit requirement to start investing on Robinhood. This makes it accessible to investors of all financial backgrounds.

• Fractional Shares: Robinhood allows the purchase of fractional shares. This means you can buy a portion of a share for companies that have high per-share prices.

• Easy-to-Use Platform: The platform is known for its user-friendly interface. It's designed to make investing easy, even for beginners.

• Educational Resources: Robinhood provides a wealth of educational content to help users understand investing concepts and make informed decisions.

• Robinhood Gold: This is a premium subscription service that offers additional features such as professional research reports, margin investing, and instant access to deposits.

Remember, while Robinhood has made investing more accessible, it's important to understand the risks involved in investing and to invest within your means. Always do your own research and consider seeking advice from a financial advisor.

Robinhood.com offers commission-free investing. No fees are charged to open or maintain an account. However, certain regulatory organizations do charge Robinhood fees for trading, which are passed on to the customers.

The Financial Industry Regulatory Authority (FINRA) charges a regulatory transaction fee and trading activity fee for sell orders. As of May 22, 2024, the SEC fee is $27.80 per $1 million of principal (only for sell orders), which is rounded up to the nearest penny. This fee is not passed on for sales with a notional value of $500 or less.

Option orders incur both the passthrough SEC fee and the FINRA trading activity fee (TAF) regardless of the sale order value. As of January 1, 2024, the TAF is $0.000166 per share (equity sells) and $0.00279 per contract (options sells). This fee is rounded up to the nearest penny, which will be no greater than $8.30 per trade.

Issuing banks may charge American depositary receipt fees. The Options Clearing Corporation charges for options regulatory and exchange fees.

To access a lower interest margin account, customers must pay at least $6.99 monthly—or $75 annually—for Robinhood Gold. Without Robinhood Gold, users with a Robinhood margin account will pay 12.00% interest. With Robinhood Gold, that rate can be reduced to 8.00%.

Robinhood.com offers several payment methods for users. Bank transfers are a common method, allowing users to transfer money from their bank accounts to their Robinhood accounts. Instant bank transfers enable users to deposit money from their bank to their Robinhood account in minutes, with no fees. Debit card transfers are also available and typically take around 30 minutes. Users can set up recurring deposits from their bank accounts to their Robinhood investing, retirement, or spending accounts. Additionally, direct deposits allow users to have their paychecks or government deposits directly deposited into their Robinhood spending account. For sending and receiving money, the Pay & Request feature lets users send and receive money with other people on Robinhood. Users can pay money by text or email, and the recipient will need to sign up for a spending account to accept the payment.