This article will review the app Robinhood and answer some frequently asked questions.
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Robinhood Markets, Inc is a US-based company providing financial services to its customers. It offers commission-free stock, ETF and options trades to its customers. They provide good discounts while charging no fees. It was established in the year 2013 and the headquarters is located in ‘Menlo Park, California, United States’.
The customers are able to trade in stocks, ETFs and options with the help of ‘Robinhood Financial’ and trade with cryptocurrencies with the help of ‘Robinhood Crypto’.
They operate completely online with the help of an online trading website and mobile apps for both android and IOS, without any storefront offices.
The Robinhood brokerage is regulated by the ‘US Securities and Exchange Commission (SEC)’ and ‘Financial Industry Regulatory Authority (FINRA)’. It is also a member of ‘Securities Investor Protection Corporation (SIPC)’, which is a non-profit organization meant for the protection of the investors.
It was mentioned as the best online broker available for beginners as it provides quality education for investors who are new to trading. It also doesn’t charge any type of fees such as the inactivity fees or the withdrawal fees which is considered as a great option available to the customers.
As there are many online brokers who provide commission-free trades, Robinhood decided to offer its customers a well-established trading platform and crypto trading free of cost.
Robinhood does not provide joint accounts, custodial accounts, trusts, IRAs (Individual Retirement Accounts), etc.
The overall ratings given to Robinhood by some famous websites is as follows:
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