Robinhood is a completely unique online broker providing stocks and cryptocurrencies on a mobile-only platform without any fees at all.
- Completely free to use – Robinhood does not charge commission, spread, or other trading fees
- A unique platform that makes investing and trading on popular markets incredibly easy
- Great reviews and feedback from both regular users and financial experts and commentators
- More than 18 million registered users
- Only available to US-based traders and investors
- Offers just shares, ETFs, mutual funds, and cryptocurrencies
- No desktop platform offered – only mobile trading
Currently, Robinhood is only available in the United States, but the broker is planning on an international expansion as soon as they receive the right licenses.
In the following review, you can read a quick summary of what Robinhood is and what this broker offers.
Robinhood – Who Are They?
Robinhood is an American fintech company with more than 18 million customers (September 2021). The trading platform is strictly mobile meaning you have to download the Robinhood app to trade with this broker and what makes it unique is that Robinhood is completely free to use.
That’s right, Robinhood does not charge commission, spread, or any other fees. Instead, the company makes revenue through interests from customer funds as well as margin lending. This solution allows anyone, regardless of the size of their budget, to trade.
The company is registered and licensed by the FiNRA. Offering stocks, exchange-traded funds (ETFs), and cryptocurrencies to American traders and investors.
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Our Opinion On Robinhood
We’re not going to lie: we’re impressed with what Robinhood has achieved since its launch in 2013. In many ways, this mobile broker has revolutionized the online trading community, proving that you can break out of the typical brokerage image and offer a user-friendly platform.
Naturally, the fact that Robinhood is only available in the United States is unfortunate and it definitely brings down the broker’s overall rating. However, with an international roll-out planned, we expect that Robinhood will soon launch overseas as well.
Trading with Robinhood is a true pleasure and there is no doubt that it’s one of the best mobile trading applications on the market. And since you don’t have to pay any fees to use the platform, it has attracted a lot of beginners that weren't interested in trading before, which would explain the enormous customer base.
Is Robinhood good for beginners?
Each trader has a different personality, which affects their trading habits. Things and strategies that work for me might not work for you simply because we are two different people. If you spend time a lot learning about trading you will get to know yourself and find what works best for you.
Good luck!
I have started using Robinhood recently, but I have not find any problem with them and I am happy with their service. Though I have not made any profit because I’m still not yet a Pro. The most amazing thing about them is that they notify their customers when ever there will be a high volatility on each currencies. They are simply the best for me. And I really recommend even others to use this platform.