The listings featured on this site are from companies from which this site receives compensation. This influences where, how and in what order such listings appear on this site. Advertising Disclosure

Robinhood Review

Our overview of Robinhood, the asset trading app.

Last Updated: June 2024

Robinhood logo

Our Summary

Robinhood’s simple, straightforward interface elevates the app’s value as a powerful tool for investing. With a diverse list of asset products, complex customization, and an inclusive IPO feature, Robinhood can be wielded by investors of all experience levels.

Robinhood charges 0% commission on stock and crypto trades, meaning investors can buy, sell, or trade as often as they like. Users can adjust the quantity and content of their app notifications to make the trading process as simple or as complex as they like. Finally, users can buy full or fractional shares of stocks, options, funds, and cryptocurrencies for a well-balanced portfolio.

Robinhood’s simple, straightforward interface elevates the app’s value as a powerful tool for investing. With a diverse list of asset products, complex customization, and an inclusive IPO feature, Robinhood can be wielded by investors of all experience levels.

Robinhood charges 0% commission on stock and crypto trades, meaning investors can buy, sell, or trade as often as they like. Users can adjust the quantity and content of their app notifications to make the trading process as simple or as complex as they like. Finally, users can buy full or fractional shares of stocks, options, funds, and cryptocurrencies for a well-balanced portfolio.

Visit Site

Unique Features

While the Robinhood app is a solid option for any investor, these are the features where the platform really shines:

  • Diverse Product Line:
  • If you’re looking to diversify your portfolio, Robinhood offers just about every asset you’d need. Invest in stocks, options, funds, and crypto without having to switch platforms. With the recent introduction to fractional share investing, users can affordably invest in companies with pricey shares.
  • Initial Public Offering (IPO) Access:
  • Robinhood lets you get in on the ground floor. When an IPO is set to go live, Robinhood notifies its customers ahead of time and gives every user a fair shot at investing.
  • Notification and Learnings Customization:
  • Robinhood allows users to receive as many notifications as they like. If you’re newer to investing, you may want to turn off most notifications and ease in to trading. If you’re more the daytrader type, you can opt-in to a consistent stream of alerts, meaning you’re always in the know.

Assets for Sale

One of Robinhood’s strengths is its vast product line. Assets include:

  • Stocks
  • Funds
  • Options
  • Crypto

Robinhood offers additional financial resources that exist outside traditional investing:

  • Cash Management:
  • Partnering with Mastercard, Robinhood offers their very own debit card. Customers earn .30% APY on their account balance, can access 75,000+ free ATMs, and can spend with no fear of overdraft fees or account minimums.
  • Robinhood Gold:
  • Serious investors can get more utility out of the Robinhood app with Gold, Robinhood’s premium service. For $5/mo, customers can instantly deposit hundreds of dollars, access advanced market reports, and trade on margin with an interest rate of 2.5%.

Pricing

Robinhood is mostly free to use. Excepting Robinhood Gold, the app does not charge usage rates and charges zero commission on trades.

Robinhood customers are subject to other fees, such as paper statement fees, wire transfer fees, and non-commission trading fees. Please see the Fee Schedule on Robinhood’s website for complete pricing details.

Crypto

Robinhood offers 0% commission trading for a long list of cryptocurrency products.

Users don’t need to save to purchase an entire coin: customers can start investing in fractional shares of crypto coins for as little as $1.

Coins include:

  • Bitcoin
  • Ethereum
  • Dogecoin
  • Litecoin
  • Ethereum Classic
  • Bitcoin Cash
  • Bitcoin SV

Robinhood is committed to keeping your crypto safe. The platform automatically offers theft insurance, individual coin ownership, offline crypto storage (i.e. cold storage), and industry-leading security.

How to Invest with Robinhood

After signing up and funding your account, a new Robinhood customer can be an investor in seconds. Just follow these steps:

    • Search the stock, fund, option, or coin you’d like to invest in.
    • Select how many shares you’d like to purchase. Some assets even allow investors to buy fractional shares, a stock split that drives prices down.
    • Swipe up to confirm. That’s it: you’ve invested!

Who It’s Best for

Although Robinhood can be used by investors of any skill level, the app seems to cater best to:


  • Daytraders:
  • Daytraders can adjust their notifications for high volume, meaning they never miss a market shift even when their away from their desktop.
  • Newer Traders:
  • Robinhood features plenty of built-in educational tools, allowing newer investors to learn as they invest. The easy-to-follow user interface means you can never get lost, fulfilling a trade in a matter of seconds.
  • Groundfloor Investors:
  • If you’re the type to want in on the next big thing, Robinhood is the app for you. Robinhood features inclusive IPO access, giving interested users a heads-up when a company is set to go public, as well as a chance at buying a share or two.

How to Sign Up

Signing up is simple.

Just follow our link to the Robinhood website to automatically receive unique promotions and discounts, like getting your first stock for free.

Once on the Robinhood website, follow the on-screen instructions to download the app and get investing.

The Bottom Line

Robinhood makes trading painless, customizable, and inclusive. A comfortable mobile experience will have users investing in between scrolling through their social feeds. Serious traders can increase notifications to keep their noses to the ground, while newer users can take a slower and more educational approach. Finally, the app lets users trade in stocks, options, funds, and crypto for the creation of a well-diversified portfolio.

Just like the name suggests, expert and newbie investors alike will find that Robinhood is the stuff of storybook legend.