No commissions, free to trade, free to deposit & withdraw.
Required Initial Deposit:
Robinhood is known for its poor executions, and relatively slow speed at times. Another thing to add is there platform, it’s mobile interface only, what I dislike is how they have their order system set up.
I would never use Robinhood for Day trading / swing trading, why?
Mobile app only.
The app has bugs, not reliable.
Email only customer support, not reliable.
Poor trade execution.
The process of filling out a limit order takes time; you can instantly fill out a market order I wish you can edit it to where it was like that with a limit order so the process would be faster.
No pre-market / after-hours trading sessions.
Email only, if they don’t respond you can try tweeting them on twitter, Iv’e sent them a few emails when I had a question on average it took two days for them to respond.
1/ 5 Rating on customer service.
What I like most about Robinhood is they created a way for individuals with limited capital to be a part of investing, I only recommend Robinhood for long-term investors who have a few hundred or thousand dollars to invest with, Robinhood is the only broker that allows you to trade without being charged a commission, It’s a good place to test out your strategy and make a few extra bucks while doing so, averaging your cost down for free sure is helpful.
If you’re new to investing start by learning the basics, when you’re ready and want to put your strategy to the test do either the following:
Paper trade with another online broker and test out your long-term strategy.
Open an account with Robinhood, and try to make a few extra bucks.
Most beginners fund their account with all the money they have to invest with and end up losing it all. Don’t make that mistake. If you’re new to investing start small, and if you learn on the way you’ll grow over time.
Robinhood Is best for:
Small accounts who want to invest for the long-term