Investing with Robinhood






You've probably heard of Robinhood if you've been thinking about investing. Robinhood is one of the most popular zero-commission stock brokers available and is available on Apple and Android devices as well as on desktop.  More some investors, Robinhood is a great broker, but for more experienced traders, it may not be. Here are some pro's and cons to give you an idea if Robinhood is for you:

 Pros: 


  • $0 Commissions: No Fees
  • $0 Account Minimum: Most brokers have minimums of a few hundred or thousand dollars.
  • Mobile App: Much better-looking than most brokers' mobile app
  • Stocks, Options, and even Cryptocurrencies available
  • Beginner Friendly: Very easy to use and the zero-fee system allows you to trade small.

Cons: 


  • Customer Support: Email only. They don't have a phone call option
  • Charts are Very Basic: Not a huge problem since you can use other charting platforms and use Robinhood for your orders.
  • *Not Friendly for Highly-Active Traders/Scalpers: Most people can disregard this since this is a more experienced type of trading. If you trade very fast (in and out within a few minutes), Robinhood does take a few seconds to place an order and execute.

 I highly recommend using Robinhood for beginners, so you can open a small account so you don't risk a lot of money. With other brokers, trading small is difficult because trading fees eat at your profits really fast. For more experienced traders with a higher bank roll, you'll probably want to use a more advanced broker.

Next Post: The 2 Best Stocks To Buy In 2020
 


Get a Free Stock! : Get a free stock when you sign up with Robinhood with my referral link:

Feel free to contact me if you have more questions about Robinhood!

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