![]() Customer SupportĬonsidering how many Robinhood users are just getting started, the lack of access to a customer support representative for help is surprising. There are some points which Robinhood could use some improvement on. Are you not sure what that means? You’ll have access to investing terms and basics and Robinhood Snacks, which deliver a “daily dose” of investing news to the app or your email inbox. When it’s time to trade, you can place limit and stop limit orders, market orders and stop orders. Tap on “stock details” and you’ll find stats, charts, your position and what type of “collection” the stock falls into, such as Top Movers or Most Popular. The uncluttered, no-frills mobile app and online platform are designed to take the confusion out of trading. Robinhood’s mission to make trading accessible to all does well on that promise. You can trade stocks, ETFs, options, gold, crypto and ADRs, all from a single platform. Fractional shares are allowed, making a $1 investment entirely possible, even if you’re buying a stock selling for $500 per share. Robinhood doesn’t have opening balance requirements. You can get started with $1 if you desire. You’ll end up with a portion of one share, say, 0.02. For example, you can buy $5 worth of Amazon or Bitcoin, even if one share is currently worth thousands of dollars. Robinhood allows for fractional shares, which allow you to buy into equity with less than the value of one full share. You’ll also receive a debit card you can use to pay bills or withdraw cash for free at over 75,000 ATMs. Hold your funds between trades in a cash management account that earns a 0.30% APY. Based on today’s rates, Robinhood’s cash account could be considered high yield. ![]() Only Robinhood Gold members can access Nasdaq Totalview Level-2 Market and Morningstar for $5 per month. The “meaty” tools hide behind a subscription wall. Some of Robinhood’s features worth noting are: Research Tools While it’s ideal for beginners who may be overwhelmed by more advanced platforms, the app is still pretty functional for intermediate traders. Robinhood’s interface is as simple as possible. In the meantime, this Robinhood review dives into how the platform works. It is too soon to know what the outcomes are of these charges and lawsuits. In this day and age of trading becoming accessible to everyone, it's important to do your own research about the equities - and the platform you choose to invest in.
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