Robinhood
3.1/5

Robinhood

✔ Completely free to use ✔ More than 18 million registered users
Visit site
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Home » Robinhood

Robinhood is a completely unique online broker providing stocks and cryptocurrencies on a mobile-only platform without any fees at all.

Pros
  • 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
Cons
  • 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.

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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.

robinhood review

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.

Compare Robinhood With Other Brokers

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Software
License
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Money Insurance
Stock Assets
Forex Assets
Commodities Assets
ETFs Assets
Cryptocurrency Assets
robinhood logo
Visit site
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Read Review
$0
Bank Wire Transfer
Free
Free
Free
Free
Free
Web platform, Mobile trading platform
FINRA
No
Yes (up to $50,000)
Free
No
No
500+
7
eToro logo
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76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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0.1%
0.1%
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eToro Proprietary Platform
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Plus500 logo
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Risk Warning
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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$100
Bank Wire Transfer, Credit cards, Paypal, Skrill
Spreads apply*
Spreads apply*
Spreads apply*
Spreads apply*
Spreads apply*
Plus500 Webtrader
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Yes
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70+ (CFDs only)
4 (CFDs only)
96 (CFDs only)
9 (CFDs only)
CMC Markets logo
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Risk Warning
69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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No
Credit cards, Paypal
0.08%
0.11%
From 0.7 pips
0.08%
From 0.3 pips
MetaTrader 4
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Yes
Yes (up to $115,793)
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*Additional fees may apply

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.

Adam Jarfjord
Adam Jarfjord

Head of the content of OnlineTrading. Adam creates, distributes, controls the content department, and also writes original guides, having many years of experience in trading. He checks each broker, trading platform, and app in detail so that you can quickly make your choice and be confident in it with his guides.

The opinion of our readers is critical to him, so Adam replies to every comment and tries to take into account the wishes of all readers in order to provide the most helpful information.

Robinhood Details

Deposit Methods
Licences
TradingGuides Rating:
✔ Completely free to use
✔ More than 18 million registered users
Visit site
Risk Warning
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
2.0
Customer support
5.0
Commissions & Fees
5.0
Platform & Tools
3.0
Research
3.8 Overall Rating

3 Replies to “Robinhood”

  • Romaguera says:

    Is Robinhood good for beginners?

    • Jeffrey says:

      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!

  • Leo N says:

    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.

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