Robinhood introduced today a new Robinhood Gold benefit that enables members to earn 4.65% interest on their uninvested brokerage cash.
This is an easy bonus for those who don’t have a Robinhood account. You get the $50 bonus from Rakuten and hopefully a valuable free stock from Robinhood, which you can sell after three days.
You can now get a free stock when you open a new account and up to $600 in cash, depending on how much you deposit within the first month.
The new Robinhood Cash Card will help users invest more. Robinhood will round up transactions made using the card to the nearest dollar, and use that extra money to buy assets chosen by the user.
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Robinhood has emailed existing users an offer with a bonus between $10 and $250 for depositing new funds. The bonus you earn depends on how much you deposit.
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Usually you earn 1 free stock when you refer and the person using a referral link to sign up also gets 1 free stock. But now the referral bonus is 3 free stocks.
The no-fee stock trading app Robinhood was hit with class-action lawsuits Thursday almost immediately after restricting the trading of stocks popularized by a Reddit forum. Several Robinhood users filed separate lawsuits against the brokerage app.
The Securities and Exchange Commission has charged Robinhood Financial LLC for deceiving customers about how the stock trading app makes money and failing to deliver the promised best execution of trades.
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Attorneys for users who are suing the beleaguered online brokerage company asked a federal judge in Florida to order Robinhood to stop sending “misleading communications” and to void any releases already signed by customers.
Robinhood has said it will provide compensation to all customers of its Robinhood Gold premium subscription. It’s offering them three months of service, which is worth only $15 at $5/month.
Robinhood has finally launched its bank account. The online brokerage firm rolled out Cash Management to some early users who were first in line. This product will move the money customers don’t currently have in stocks into a separate account that pays 1.8% interest.
Robinhood, a no fee stock trading app, made news last December by announcing a no-fee checking-and-savings account that offered a 3% yield. However, the excitement of
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