Robinhood is getting even better. I’ve previously written about Robinhood because I started using it myself. Robinhood is a no-commission stock trading app with a slick design and easy to use features. But obviously its main draw is that you can trade for free. Now they have launched Robinhood Web to the public, after it was first announced in November of last year. This makes it easier to trade if you’re already on your computer. You don’t have to check your phone and you get some extra features. The web interface adds more statistics and research than the mobile app. It’s still far from traditional online brokerages though.
Another enhancement is options trading. The California-based financial services company has made this option available and you can already sign up. Pptions trading can range from $3 to $9.99 per trade, and contract fees run from $0.15 to $1.25 or more, but Robinhood offers it for free.
Then there’s free cryptocurrency trading in Ethereum and Bitcoin everywhere. Zero-fee trading of Bitcoin and Ethereum is already available to all investors in California, Massachusetts, Missouri, and Montana and should soon be coming to other states. Zero is much better than Coinbase’s U.S. fees that range from 1.5 to 4 percent.
You can het one random stock for free when you sign up through a referral. They say it’s possible to even get an Apple stock, but I doubt many people will be that lucky. I received one AMD stock myself when I signed up, which was worth about $12.
Robinhood makes it easier to get into trading. But do your research before you jump into this. Yes, you can make money, but you can also lose just as easily. The fact that is free makes it more accesible and it doesn’t cost anything to try it out.
Let me know if you’ve used Robinhood or any other platform.