Robinhood: Investing for All

4.2 (4.2M)
372.9 MB
Age rating
Current version
Robinhood Markets, Inc.
Last update
9 months ago
Version OS
14.0 or later
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User Reviews for Robinhood: Investing for All

4.2 out of 5
4.2M Ratings
2 years ago, Sinful Boots
Worst support ever!
I’ve been moving my banking systems around to shift from one bank to to another. I make attempts to link the new bank account to Robinhood and it asks me to provide a bank statement for the new account. I send the bank statement with the name my name, and later received an email saying it was declined because the name did not match the Robinhood account name. They don’t ask for middle name when making an account so I did not provide one. I resubmit my statement reassuring them my account name is correct. Later that day the automated system restricts my entire account preventing me from using any features including bank transfers or my card. I check an email and says that I should contact Robinhood. After hours of dealing with numerous “Specialists” and not having any method of directly communicating with their review team other than email through their specialist. I still don’t have access to my account when I have provided them with every piece of information they needed, to include Bank statements from both my NFCU and Chase bank, Passport ID, and a facial recognition scan from Robinhood. I should not have to resort to borrowing money from friends/ family just to eat or get to work because an automated system no longer decides I am worthy of accessing my own money and the company decides take the most ridiculously lengthy process to restore access to my money.
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3 years ago, michaelw17
I wish you had more crypto and coins in general
I would like to invest in some other securities that robinhood doesn’t have. I feel you guys are losing clients to this matter. Also, there are some stocks you guys don’t allow on the site but are on others. Finally, I wish you guys would make trading extended from 4am-8pm. Again some other brokerages allow that. I feel that these 3 main reasons are holding you guys back alittle when you could have 100 million users instead of where we stand today. I’m with you 100%. Two wks ago I was alittle weary and Alot of fellow traders im friends with all started discussing leaving robinhood for other brokerages like webull and ameritrade etc etc again some prob left your brokerage over the squeeze ordeal. I had an issue with it also. I know you guys float money but this should have been thought of before you became a bank pretty much per say. We lost thousands and tens of thousands of dollars off of the retrained that were put on us. Even with crypto. That was alittle outside of character. I understand why but it screwed us when if we were on or with another brokerage per say that wouldn’t have happened and I’d have another 7-12k or more in my acct. right now. Just giving you the word on the street lol anyway you guys have made your site very easy to use and it’s all at your fingertips (for the most part like I stated) all in all. Thanks and hope this helps. Mike
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4 years ago, Pw95
Excellent, but improvement idea
First off, using the app now for years and loving it. Excellent idea also to add option trading and crypto. I very much enjoy the margin account under Gold (well done and conditions are fair) and I see how Robinhood is constantly improving it. However, definitely problematic are the following aspects: 1. Power usage, the app is draining my battery. Idk if it is because I have a lot of stocks on the watch list and every time I open the app it’s loading in all data for each of them or something, no idea. But my phone gets very warm after a few minutes of using the app (iPhone Xs with 96% battery health and iOS 13.6). 2. Technical issues at order placing. Low volume products such as certain options or even for high volume blue chip stocks sometimes the order confirmation page is loading for 5min before it’s placed. Same thing for cancelling an existing order sometimes. Usually though this isn’t much of an issue. 3. Robinhood has the “replace order” button for placed but pending orders for options. Why not also make it a button for placed but pending stock orders? Would be so convenient. 4. I just wish you’d see some more data next to the list where you see PE and yields. Beta coefficient and payout ratio would be absolutely lovely to have there. Important metrics and convenient to see at one glance. Hopefully you’ll take this feedback into consideration when improving the app. Other than that, keep up the good work! Thanks.
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2 years ago, Stevo777333
Associate Professor
I have tried other self-directed investment apps/environments, and Robinhood is hands-down the best! To start with, commission free trading allows you to make (practically) unlimited tweaks/optimizations to your holdings, and to react quickly (as fast as humanly possible - computers are obviously faster) to changes in the market. Real-time alerts and market analysis gives you important up-to-date information to inform these decisions. The month of free Gold Member status (currently need to enable this manually), which comes with instant deposits, is a great way to fund your account and start building your portfolio quickly (I haven’t tried transferring money out as yet, but this will likely take 5 business days). The phone app is very user-friendly, making various types of trades simple and convenient. The only bad thing is that trading in Robinhood is ADDICTIVE, and don’t be surprised if you want to spend several hours per day (or night, with cryptocurrencies) trying to optimize your gains. Some suggestions for improvement include (1) access to other types of cryptocurrencies and the ability to do more complex trades beyond just market or limit orders, (2) the ability to ‘shift’ the time range being displayed on market data plots (e.g. to center a 1 week display range to be centered a few days/weeks in the past), (3) the ability to do more advanced analysis of market data by superimposing trend lines/curves.
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3 years ago, ClydeJonesVII
Just needs a human when things go wrong
As of lately I have literally been logging into my Robinhood app at least 7 times a day or more. I am very familiar with the layout, the menu, settings etc. One day I opened the app and saw all of my investments and well as other stocks that are listed showing a gray box next to it with a dash going through it. Now I’m used to seeing something kinda similar when I lost my signal and the app is trying to pull the information as soon as I get a signal but this time was different. I was home connected to my WiFi and my internet connect was excellent. No other app was having connectivity issues so I knew it wasn’t my internet, the only option available on my Robinhood was the link for a free stock if I recommend a friend. So I tried to troubleshoot by closing the app out completely then flogging back in and the same problem. I then clicked on the Help then contact us and realized the help is just pre loaded questions that they assume should resolve most issues you have but since none of those preloaded questions pertained to me I chose the option of “something else” which it then led me to write an email option. I did however within about 20 minutes the app began functioning properly. I never received an email response back and that was at least 2 weeks ago. That is my biggest concern with the Robinhood app. No live chat support or phone number to call. Other than they if everything works as designed the is the best app for your money.
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3 years ago, Patel Ankit (newark)
Love App , company and democratized breakthrough
I remember back in 2013 I started to invest in Stocks with a Scottrade brokerage firm and each time you make a transaction you pay $7 fee. So, basically for buying a single stock you have to pay $7 and selling another $7. At the end of the day your profit meter will always start after $14 at any given point , beginners don’t find it viable option that each time your profit has to be -$14 plus federal taxes at the end of year. I have been using this product almost since 2014 or 15 cannot remember but cannot think for a better app than robinhood. There are lot of other wealthy brokerages firms and rich people who try to criticize robinhood mission and only want the rich to be rich. For average American joe or immigrants , robinhood has against all odds have provided a platform so simple that everyone can start investing for future. When a person tries to a breakthrough something established for years they definitely face a lot of flak and criticism from people who have been rich holding stocks for decades but millennials want to improve their life today! At the same time think about future. Everyone needs are different. Long story short, stock and options trading is phenomenal and crypto there is still room to improve and add more currencies. Also, I would definitely be interested in what company has to offer long term for assets management.
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2 years ago, Aesaito
Best in class
This is by far the most rewarding service for investing in the Stockmarket. If you do nothing else, at the very least get their robinhood debit card and use it for all your drive-thru food and beverage orders. There is absolutely no other investment service that will give you as much of a bonus as the Robinhood round-up rewards program. Personally, I set my roundup rewards to give me Tesla stock, but if you want full exposure to the national average, find an S&P500 ETF and watch your spare change compound over time. I personally love robinhood gold’s competitive interest rates, but margin is rather complicated for beginners, so proceed with caution. That being said, if you plan to dollar cost average into the markets on a daily basis, Robinhood’s margin makes this incredibly easy while opening up your personal income to pay down your higher rate loans. It’s a no brainer. If you only so much as use the first $1,000 of robinhood gold, you get an APY of ~6% which blows all credit card rates out of the water. Get margin, dollar cost average at the rate you pay off your credit cards, and profit the difference. Disclaimer: You need at least $2,000+ to gain access to margin, hence this is not a tactic for low income earners. If you are just beginning your journey to financial independence, stick to the debit card’s round-up rewards program and never invest outside of your comfort zone.
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2 years ago, Unfried88
Robinhood review
Overall the Robinhood platform is pretty good. I like the overall ease of use of the platform and like the fact that I can invest in stocks, ETFs and Crypto. However for Robinhood to flourish they need to incorporate WAY more crypto assets and offer a much better variety of options in this class as it is the future and they are losing out to other platforms. Also other platforms offer staking options, retirement account options, and options trading. These are big deals in investing and it is losing Robinhood a lot of business to other platforms that offer these services. Also Robinhood’s customer service isn’t that good either, when you are dealing with peoples money they NEED to be able to speak with someone 24/7 quickly and not have to “chat” or send an email where their questions may or may not get answered for days on end. Also the amount of days that it takes for funds to clear is WAY to long!!! I personally have lost out on good buys due to the slow transaction times for funds, and not everyone wants to or should have to pay extra to have more funds clear quickly. If you want to be number 1 you have to provide the best services to the most amount of people, period, or people will go elsewhere or use part of your platform and parts of others platforms. If you go above and beyond on what I have mentioned I believe that Robinhood could actually dominate this space but I doubt that anyone is actually reading this anyway….
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3 years ago, baretruth
Power in your hands
Robinhood gives you the power to dynamically view securities and place orders clearly and quickly. It also gives you the power to quickly grow into advanced investing strategies if you wish to. Critics may say this is terrible because it’s too easy for the unwitting to lose their money not understanding what they are doing. To that I say I’m sure that happens, but Robinhood does their part to prevent this. They have educational resources and built in info and messages to caution and inform about risky trading actions. Do not blame Robinhood for the thoughtlessness of careless users. Having access to the tools Robinhood provides is truly freeing and empowering. Yes, they have their bugs and other issues. However, the platform is so preferable to any other platform that I am not bothered at all by an occasional downtime or other issue. Further, I have used Robinhood since before they offered fractional shares, Crypto, and their debit card/cash account (which pays interest monthly at a superb 0.3% APY!) and each of these features have made it all the more amazing. My message to the remaining critics is that you don’t seem to understand what you’re missing out on. By my estimates, Robinhood will be able to fix its current issues and introduce more and more features that make it the best place for any non-corporate investor to be. Sincerely, impressed. (And looking forward to what’s ahead on Robinhood)
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3 years ago, Ooksneksneknd
Very laggy, needs extended trading hours.
My app is been so slow, worse every day. I even upgraded to top of the line Internet and nothings changed. Taking forever to load the stocks I own, and then taking forever to update their prices. When I click on the options, the same thing happens. When I click on an option to buy, instead of opening up where the price is currently so I can buy somewhere above or below the money, it opens on the most expensive call available. Then I have to take the time to scroll down to find the price of the stock and then determine my calls from there. It’s just super annoying. Lot of unnecessary time wasted for no reason. If you’re trading stocks, and time matters, literally down to the second, this is definitely not the app to use. Will cost you thousands of dollars like it has me. If you are swinging or long-term trading then it’s good for those purposes only. I am slowly exiting my positions one by one and freeing up my money so I can transfer my stocks over to a different platform. I really love how user-friendly this app is, but the small details that cost time, cost money. If you try to email them about anything, you always get a generic answer from a prompt. Even that’s a waste of time. If you email them about your app being slow there’s nothing they can do. They tell you to do all the obvious stuff like power cycle your phone, restart your Internet, uninstall reinstall your app. None of it works to improve the app speed.
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3 years ago, Ty1364
You guys could be the driving force to become the best
Let be very real you dropped the ball. Having the people behind you is what makes you a hands down best app to be had. Regardless of why you had to restrict, why you had to put holds on buying shares it was not communicated clearly and this is where the disconnect come from. You must remember it is not your money that was on the line it is your customers money that was being held from them. I am a new investor. I like how easy your platform is, I like the fact your charts are easy on the eyes and I can read them. What I do not like is that since this disconnect there really has not been anything directed to your customers. Yes, some statement here an interview there, but I don’t care about why you had to do what you did I want to know how you feel about me. Your decision ultimately moved the market and yes although is was not just you it was just you because you are my voice and I use your platform. I have not removed my money from my account prove me right that I think you can be better then this last week 2nd review: I really like how you have come under fire and still was their for customers. I thought that I definitely would leave, but so glad I did not. Keep education at the forefront of investing. This is the way. I now have given you four stars.
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3 years ago, Clifftown
I like it.
Great access to most the companies I look to buy and sell shares. Decent research at a glance on many companies. I really love the ipo access and think that’s a niche they could really expand and do well with. Decent margin rates. Really need to expand availability of different crypto, however I like the security of not having to protect a wallet, and staying in the Robinhood universe. Nice easy options for trading on limits etc… I wish there was an option to extend those options over an extended period of time rather than just a trade day. I don’t like that Robinhood sells and buys through a premium for extra money. For active trading that adds up. If your buying and holding, not a big deal. I think it’s a greedy game they play on that front and wish it was more transparent what the margin of profit was for Robinhood on each trade. Overall, positive. I would really enjoy an automated investment program that E*TRADE has and vanguard, making the management costs down and just a place to put investment without worrying of buying and selling. Would be good for those who don’t want to actively manage their portfolio. Also would help in taking irrational decisions making out of the equation. I would like an option for a algorithm that does the management process for me for a portion of my portfolio. So if I got ill, sick, or died, it would be easy to transfer into that option…
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4 years ago, Muttlikepop
New member.
I joined Robinhood a little over 3 months ago in Feb 2020 after I heard Clark Howard talk about on the radio. I think it is a great asset to the common man who doesn’t have thousands of dollars to invest in stock all at once. Robinhood is a way for the average person to study and learn about different stocks themselves and decide where they want to put their money. Then by way of the phone app they can check their stocks all day every day. A person can invest as much as they want, pennies or more. I’ve been able to invest over 3,000 dollars in these 3 make months by taking some savings and then doing the best part, which is taking any disposable income I have and buying stock with it. I never stop for fast food or buy anything but necessities now because I’ve found that I’d rather take the $5.00 or whatever it is that I would spend on junk food etc and buy stock. With the virus canceling all sports I’ve found watching my investments on Robinhood be more entertaining especially since I actually have a stake in the game now. The only thing I do wish Robinhood would do is explain the gold mining daily market better. I’ve put large amounts of money into a few of these and then all of a sudden the stock totally changes. These companies send out information but for an average guy they are too hard to understand. Thank you.
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4 years ago, gdhdhchcurbevdi
Execution on options; the execution on your options in some cases take down right near forever to exercise from the sell order input. On several occasions I have noticed the only way options sell, are when the price reverses, which makes me think those with the Robinhood app Are put on the back burner, so to speak and if the price does not reverse, a lot of money could be lost.I watched a sell order fall more than 50%In the money, only to sell some 10 minutes later out of the money. That kind of execution does not get you high marks. The purchase and sale of shares: on many occasions now, I have watched the purchase of shares increase by one cent per share when the share price never actually hit that price. The same goes for the sales only on the sale price, it is one cent lower then what it actually hit. How is this possible? You wanted my opinion, you got it, but I seriously doubt you’ll do anything about it because you want graphs, pictures, and any kind of evidence that says this isn’t true. I’m not here to give you evidence I’m here to give you my opinion. If you want evidence, try it yourself I’ll just make my decision going forward. In the meantime maybe find a way for options to exercise a little quicker and honestly I would not mind paying a little more. Sincerely, RH user
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2 years ago, Magic Poet
Easy to Use; Wealth of Information.
Robinhood made it possible for a “little guy” - like me - with little money and little experience in investing to invest slowly as I could afford it without jeopardizing my financial base, and learn as I went along. The absence of trading fees meant that I could trade efficiently without losing my principal, and if I suffered a small loss (which almost never happened) I was not punished even more by the transactional costs. I have an investment account with Merrill, but it is slow, hard to access, provides massive amounts of information that only a seasoned trader could begin to understand, and I have to wait and wait and wait and wait to use my money once deposited. With Robinhood I have actually become an Investor (not just a “trader”) and I have seen my portfolio in good companies grow and grow. By Warren Buffett’s standards of volume, my portfolio is minuscule. But Robinhood gave me a chance I would never have had if I had to rely on the “regular” stocks, securities and investment avenues. Encouraged by the modest success I have had through Robinhood, I have actually started a regular investment program in good, solid, companies. I thank my lucky Stars that Robinhood was available for me when the time was right for me. No other investment platform or house or bank would have done what Robinhood did for me.
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4 years ago, UMM BusRider
Great But Buggy
Robinhood has a great concept going for them. They’ve targeted a niche area of the market which caused a domino effect for the rest of the brokers. Robinhood moves other brokers away from fees per trade and change the game for good. However with that they provide an extremely good UI which is simplistic and easy to use. This is especially good for newer traders and investors as well as it making it a pleasant and seamless experience. But with that being said there are few bugs that they need to work one. Starting with the accuracy of the charts of portfolios. I’ve noticed and a few friends of mine have noticed a few offages (Money I put in + growth) doesn’t always add up. My next issues is that on busy trading day Robinhood needs to increase their server capacity. I don’t like to wake up to either Robinhood unable to make a trade for me because of “high volume” or “May experience delays due to higher traffics” but you get what you pay for and in this case I’m not complaining to much. But over all if you’re looking to start getting into the investment game and you know where to start I would recommend using Robinhood. I mean I did recommend it to all my friends. Ever app has up and downs and I’m certain Robinhood will eventually work out the kinks and be ever better than it is now. They’ve come along way from when the app just rolled out.
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3 years ago, Jolius
Love the app
I would have given it a 5 stars review, but some aspects of the app needs work. I think it would be easier for someone at my level of inexperience with stocks to have your actual stocks label stocks own by you so that you can understand better, even tho it sounds silly it took me a while to figure out that my stocks are the first ones, as well as I guess is a given once you look under the name of the stocks that it shows you a number of how much you own of that stock. The other thing I believe can be improved is the amount of time that it takes for your application to be approved, I know that this can be challenging since many people are applying but the market changes at moments and you loose the chances of buying stocks at a lower price by the time your application is approved. I think that it could also be a good improvement for the app if they would just add a buy button to either the left or right on the stock instead of having to press on the center since sometimes you end up pressing right and it gives you the display data instead of the buying option. I do love that this app exist and the last thing I would love is that they would give you the free stock once a person uses your link instead of having to wait for their application to be approved. I hope my feedback will be of hep. Thanks to the team and everyone involved in the creation of this app.
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5 years ago, A*Low
Experience Improvement Suggestion
This has been a fantastic app in all the time that I’ve been using it. Since about 2017. There have been many new additions since then. One of them being analyst ratings where we can see how many analysts provided a rating, and what percent said said buy, hold, or sell. This has been quite a useful gauge (along with others) for investing. That being said we all know time marches on and opinions change. Unfortunately I have not noticed any relevance to time in this analyst ratings feature. Perhaps these ratings are updated weekly. However, without knowing at what time the ratings were made it’s hard to tell how a stock, like GOOG, would be rated after some news comes out, like the antitrust inspection. Surely we can look at the rating description to see if it mentions anything about this news, but it still doesn’t address the main concern. That is when did each analyst rating actually happen. 30 could have been before a big news break and perhaps only 7 after. Making for a possibly inaccurate rating. Perhaps the news has nothing to do with these analysts ratings and it’s all about the companies numbers. In such case public opinion has no impact on ratings and thusly time is not as important. However it would still be nice to know when the ratings were made or last updated.
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3 years ago, Hig89
What happened sucked regardless....
Giving a one star is something not in my blood. I came into the hype like everyone else, but late and I’m okay with that. I did not put my life savings in it though. At the end of the day it’s gambling . I was not effected as others were. This App indeed did some shady stuff regardless of why you did it. But that’s life right? I’ve learned a lot in these past weeks and if it wasn’t for this app, I really wouldn’t be aware of how things can turn. I’m starting to focus on my long term investments more then ever and I love that. I’ll continue to use this app as references, but putting big bucks in Robinhood is now something I’ll never do. I appreciate the platform for me to learn and understand this game. 3 stars I find appropriate, I just hope you learn from the one star reviews and help the people who truly need it during this time. Not the hedge funds who already have billions of dollars. Robinhood is the name we all know as children who take from the rich and give to the poor. It’s hope for many who don’t have the means for it. You gave hope to people then took it right back. I won’t delete this app, but people and myself included need to be more conscious where our money rests. Thank you again for this platform and hopefully other developers can learn from mistakes that Robinhood made. Good luck with everything ! A lot of punctuation error but you get my point . Regardless of the money.... the moon we go!
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4 years ago, LIk3Aball3r
Great App!
It’s easy to understand (once you get familiar with stock trading terminology), and it makes trading stocks feel simple. One suggestion I do have is when I’m looking at the line graph of a stock that I have shares in, I’d like to be able to see visually on the graph where I jumped in at. So say I bought some shares at $4.67/share and I held the shares for 2 months. If I click on the 3 month view of that stock, I’d like to see a little pin or something on the date that I bought my shares at. That way I can see in an instant whether I bought while the price was high or low or mid. Also it helps just in general to see what spikes I’ve held my shares through and which dips I’ve been along for the ride for. I could see this being particularly helpful in situations where I’m buying/selling a lot of shares quickly, or I’m trying to study the markets and look at my past investments. We would be able to notice patterns in our trading habits like if we are overly aggressive on a regular basis, or if we are consistently too passive. I’ve noticed just by my own tracking that I tend to sell a little early. But if I were trading on much larger scales with a lot more money, I wouldn’t be able to mentally keep track of everything. So without writing it down, it would be tough to look at these stocks and remember when I bought at. Just a thought.
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3 years ago, Philip Eenos
Works well until it doesn’t! Support is the worst!
I’ve had Robinhood for well over 5 years now and it was a great app to learn how to trade general stocks as well as options trading. The worst and most important part comes down to support when anything goes wrong. Expect the worst service you can get and expect to lose money since you won’t be contacted for over a week. When I say expect the worst service, that means they will only contact you via email or somehow via the app, don’t expect to find a number because that does not exist with their support. Robinhood support is supposed to contact you within 1-3 days as they say and may take longer due to volume. I have personally reached out 6 times due to not being able to sell a call option to take profit and the app saying “Account cannot trade that instrument” all the way up until the day of expiration. I lost the opportunity to make a few hundred dollars until I was only left to exercise the option and let the other option go to waste and expire out of the money by the time the stock dipped at expiration. Because of this, I have opted to transfer my full account to another broker and decided to close my account with Robinhood once it clears. Lack of support is an important aspect especially when you’re dealing with something financial. With that being said, I wouldn’t recommend Robinhood to anyone unless you want to risk a potential loss when something goes wrong and “support” will not support you in time.
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4 years ago, GrandpaToldMe
Freedom IS Actually Free!
Time is the number one advantage you have when investing. Or so my grandfather told me. For years, however, I waited and put off investing until I had “enough” money to make the fees most brokers charge worth it. But I never seemed to have “enough” and I hated waiting (and therefore wasting the magic of compound interest). Robinhood took away my excuses and not only made it ridiculously easy, but completely FREE to invest. I’ve been using the app for over 3 years now and I’ve never spent a dime. And by referring the app to friends, I’ve received 15 FREE stocks from Robinhood (worth $65). The design is intuitive. The financial charts are easy to understand, without being overwhelming. The always up-to-date links to the latest news stories about the individual stocks are really helpful; over time, just reading little by little, I feel my knowledge about investing has grown thanks to those links. I’m mainly interested in long-term investments, but the few short term trades that I’ve made have been a breeze. I’m not that wealthy, yet, but honestly this app is one of my favorites on my phone because watching the dividends come in and the compound interest grow year-by-year genuinely makes me happy. Robinhood is simply complete financial peace-of-mind in a beautifully designed app. I can’t thank its creators and designers enough!
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3 years ago, mad_doge
Fine until you need to talk to customer service
I have been using Robinhood for many years, however in that time, I have had a legal name change, which means when my account was locked earlier this year, I had to submit a name change request to get it fixed. All of my funds (majority of my savings...) in the meantime are completely locked up, unable to trade and invest or be transferred back to my bank. I have submitted all sorts of documents, such as identification and legal documentation. However, over the weeks, rather than being able to speak with an actual human being, all I have received are scripted and automated responses. Robinhood doesn’t have an actual phone number to call (which seems very problematic for a financial institution) and relies on what appears to be an automated system to submit responses, in which your replies will never be read and your issues never actually resolved. I am incredibly upset right now, Robinhood has majority of my savings currently locked up in their account without giving me any means of being able to get in touch with an actual human being to be able to get things resolved in a timely manner and it is making me very anxious and very upset. Very seedy and disconcerting, honestly, I feel very uncomfortable that I have entrusted my money to a company that refuses to communicate with me, resolve my issue so I can access my money, or give me any kind of update or information about the status of my account so I can access my savings.
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3 years ago, cautiously optimistic investor
Thoughts on RH after 3 years
I’ve used RH for just over 3 years. I’ve learned a lot in general in trading as well as appreciate the ease of use/user friendly interface for new investors as they get into the market. In my opinion, you invest your money RH should be treated as a tool. That said, recent discussion on limits on buys/sells whether it’s a liquidity issue or something else has me seriously considering movement away from this platform. I have several brokerage accounts and to be limited is frustrating to say the least and has serious financial impacts on individuals. I will give RH one more chance moving forward as I have most recently chalked the issues up to “growing pains”. If RH plans to go IPO and succeed it will need to seriously navigate this ^^^ “liquidity situation” and ASAP. At the end of the day i simplify it to the core principle, I give you my money so you can make money and when I want my money you give me it back. I refuse to become desensitized to these “liquidity issues” should they continue and intend to speak with my money then. I continue to be cautiously optimistic about RH and look forward to seeing what changes will be implemented with the talks about adding more crypto and functionality, to include wallets etc. This is intended to be a constructive review and any news on RH I tend to take with a grain of salt until I am able to experience it on my own.
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5 years ago, ArAgOnRiChIe305
Senior Tax Accountant
Love this app! This is been instrumental for so many people I know in their understanding of investing, financial planning, and general financial health. Amazing, easy-to-use user interface. Love the free stock for referrals, love the selection of securities, and love the cash management. My only gripe is perhaps updating the Dividend Yield, PE ratios, etc. to the current security information (current price, current dividend payout, etc), showing the performance over a period of more than 5 years (i.e. 10 years, ALL-TIME), and having a more robust, advance information base. RobinHood has and is solving a market problem by offering an investment solution for the masses, highlighting the fact that investors should understand what they are doing and what they are investing in. This is an incredible tool and resource on how anyone can improve their financial position, condition, and health through investing. This isn’t something just for ultra rich. This is available to everybody. Just have to have the determination, perseverance, and the mental fortitude for all our decisions about money (from all that online shopping to buying premium brands to feeling like you “need to splurge” yourself to make you feel better (you really don’t need it) and sky is the limit. Excited for people interested in this app and in their financial future.
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3 years ago, Sarahgamer1235647
Horrible for crypto
I’m in college and decided to start investing for long term. Had a few GME shares through the whole WSB craze and honestly wasn’t upset with Robinhood during that time. HOWEVER, I started reading crypto at high volumes, purchasing and selling at $10k at a time. And I noticed they take a cut WITHOUT TELLING YOU. I know the price you submit your request at is not guaranteed, but the fluctuation is far too few in between to be the reason why my sale price was so far off of my ticket submission price (there’s only 1 second in between these two things). Started to look into it and yeah, it’s pretty fishy. If you are profiting at a small amount, they lead you to believe you gained money by using psychological tricks (colors of the chart and the positive earnings calculations), but if you actually look at what gets put into your money that can go back into your pocket, there’s some money missing. It’s not a crazy chunk but I have lost a couple hundred where they have led me to believe I’m profiting just above the breaking even point. And if you think about it, when they do it to thousands of people, they are reallly profiting off of it. Such a bummer because it’s so dishonest. Also a bummer bc I am a huge fan of the Robinhood snacks podcast! They shouldn’t hide in the fine print the fact that they take a bigger portion of your earning than you are lead to believe. Super disappointed since everything else is good
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3 years ago, Mr.Puffing'N'Stuff
To The Moon 🚀
Robinhood is why I invest and invest in crypto now in my life. Trying to figure out how to make money for my family since I had my first baby coming in 2021. Kept seeing the Doctors and Nurses talk trades and thought I could attempt. I like talking business and learning where the future is going. Got onto the app store picking through apps that offer trades and Robinhood popped right up. Since I love the name Robinhood because of plenty of funny movies yet the idea of wealth spread out it was a no brainer for me. RH has made it friendly learning with plenty of help for a person as slow as me to understand and make my first trades. Very exciting days learning to follow companies and hear what others say using social medias to follow have helped me a lot. If you are brand new to investing, look at Robinhood and even if you are an investor of many years it is still helpful to use with other platforms. Thankful to Robinhood and Jim Cramer for getting me through mu first months of learning about markets. They both go hand in hand for me. Excited for Robinhood to offer crypto wallets soon as well. That will be a major mile stone for Vlad the creator. Hope this finds you well and hope you make plent of money to have the bills paid and food in your belly. To The Moon 🚀🌕
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4 years ago, nickk118
Moving away from using Robinhood
I signed up for Robinhood a few years back. I didn’t know much about investing but I thought I would give it a try. I found the act of buying and selling stocks to be easy but I didn’t like the lack of other features like the ability to look at detailed charts or even create price alerts. After a few months I withdrew my money. Fast forward 2 years later and I thought I would give it another try. I imagined that in 2 years the app would have made some substantial improvements. I was wrong. The functionality is still the same and there still are no advanced features like charting or price alerts. I do not like the pattern day trade rule Robinhood has setup. I do not trade with margin and only use my available cash. On most other platforms with a cash account you avoid this rule but Robinhood uses it no matter what. After 4 trades you are banned from trading for 90 days. Also, this app crashes and glitches A LOT! On high trading days I have seen many people complain that their app isn’t working. I’ve also had issues with my chart matching my activity and this does not make me fee very confident that the app is tracking my balance accurately. Overall this app could be good for people who want to learn the process of buying and selling stocks and are going to basically “set it and forget it”. If you plan to be an active trade this app is not for you. As soon as I can withdraw all my money I will be switching over to another broker.
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4 years ago, addyyoluh
Best Brokerage app for 1st time investors!!!
The major issue I have had with Robinhood is their glitches. The biggest being occasionally crashes that can last an entire trading day this can be inconvenient for option and day traders aside from these and a couple other issues Robinhood is an awesome platform. I wish the option to organize the stocks you search buy MRK CAP, AVG’s over Days, Months, and Years and ANALY RAT’s was included on the app as with the desktop it would be a nice feature to have. I love the cash management option along with those for fractional shares and drip investing but I wish there was away to practice investing to see how you would preform on let say options trading. Having a paper trading option on Robinhood would benefit the app and the users by allowing users to practice trading in a way that could make them more money. Paper trading also gives Robinhood more money from each customer as they would feel more comfortable placing money in trades than they might now. There are also areas Robinhood lack in analytics. I imagine advance charts might scare new users not familiar with trading however, which is why I would say disable the option by default until the user enables it. All in all Robinhood is a 5/5 Investing app. 🎖🎖🎖🎖🎖
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4 years ago, J.SakH2HG
Better money movement strategies
I really am enjoying Robinhood. I would like to say that there is one thing I’m not fond of however. That is the trade and sell in a single day feature. Three trades and sells in 5 trade days is just nonsense. You are telling your investors that they must take a loss. Or that they can’t make money. I get the concept as to why you do this. Again though it is unfair. We read up on a stock that is predicted to do well and invest money, that same day the stock starts to take a dive and we can’t pull out without being sited for a possible “day trade”. I’m new to all of this like many of your investors using this app are. I think implementing something for the little guy would be more fair. You say it’s ok if you have $25,000 invested on the app. Well a lot of us don’t. And I’d like to be able to move my money where I’d like when I like and maybe you guys should consider upping that trade number to 5 per 5 trading days or “week”. Then impose a few for any there after! The idea of being restricted from getting out of risky stocks is not fair. Pretty much saying that you need to put your money into blue chips or futures and let it sit as opposed to buying a stock and looking to turn a profit that day or week. Sorry if I haven’t articulated myself the way an investor with years of experience would have. Although like I said I myself along with many others using Robinhood are beginners. Thank you.
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9 months ago, Ckb4z7
Please don’t invest on this app!
I invested thousands of dollars using this app over the years. At first, I enjoyed the ease of buying and selling stocks on it. However, at a certain point there is a glitch in the app where I authorized that Robin Hood withdraw $2000 from my bank account, so that I would have more money to invest in the app. After doing so, there was a glitch in which Robin Hood proceeded to authorize three more withdraws of the exact same amount, which led to an overdraw my account. I was unable to cancel these transactions. And when I called customer service, they blamed me for the duplicate transactions and took no responsibility for the app and the damage that it caused for me. They ended up putting my account on hold so that they could review the issue and see if maybe the account had been hacked. It is now a year later, my account is still restricted, and I have talked to customer service several times to try to get this restriction removed. I have had no access to my money or my stocks during this time. They have made me jump through incredible number of hoops to regain access to my account, even when I was the one that asked for the review to begin with. Customer service is rude and unhelpful and enjoy wasting my time. At this point, I still do not have access to my app in the money that is there. I would not recommend this app to my worst enemy. It is not safe to invest your money here. use a more credible means of doing so, such as a Vanguard.
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3 years ago, The Friday Pledge
Yes absolutely love this app. The debit card works but I’ve been using it sparingly. I do have one criticism for the moment though, and that is that I can’t link PayPal. However, I can understand the potential national security implications of that linkage, so I need you guys (or whoever my friends are) to help me put together another think-tank to tackle that issue, because I shouldn’t put a Top-Secret solution into a publicly readable review. In other words, that problem is relatively solved institutionally, and I would like the linkage to go through so I can get money out of my online business using only my Robinhood and PayPal. But hang on though, because if it’s just PayPal going to Robinhood it might be too easy for an enemy of the state to get money into the market by using PayPal, from which point they are one move too close to any plan to destabilize the stock market that might exist. Changing topics a little bit: have you guys thought about a feature where people can place orders both to buy at a certain price and to sell at a higher price simultaneously for a security they hold? I understand the day-trading restrictions wouldn’t always apply to that. Might have heard that TD Ameritrade lets you do that on the computer, but unable to confirm.
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4 years ago, Lynfran1
Novice makes good.
What fun for me in this time of covid. Newly retired teacher,as of Dec 2019. Lucky break for me. Not having to worry about entering a classroom. But veing bored to tears. From lack of stimulTion. Plans of travel evaporating before my very eyes. Lots of texts with covid jokes and ppe but serious concerns for my future and my family. I already was playing with Robinhood in sep ‘19 ... i had a head start. The articles provided gave me basic stock info. And daily access and pArtial shares encouraged me. The gains were so much fun though pretty small at first... and ahhhh tge losses. Each one heartfelt with dread .. i kept learning more and options in tve money set ne on the right path ... so much so that i started. Day trading with min 25ggggg’s. Lol. Up and down. A see saw for my money. Daily. Losses and gains. I now understood the meaning of volatility ... galore ........Learning again. Another level. Now my expectations grow daily. Some stocks. Some options. Transitioning between both. Buying options started with 1 Contract one company. Now. 5 contracts. , multiple companies and strike dates. From novice to intermediAte. With the help of Robinhood....all done on my cell phone. In the car. At the house. In a resturant. Even visiting while social distancing. Thankyou for this ever changing fun activity. Even when i loss a bit ....
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3 years ago, CarbonMINI
Great Interface, Poor Standards
From the outset, I have enjoyed the app’s aesthetic and ease of use. The entire process is very polished and made trading/research enjoyable while providing the needed information. I have no complaints whatsoever with the program from a technical standpoint. Had you solicited my opinion prior to the end of January, I would have given an equally glowing review for the trading ethics as well. Being that the process of making a trade is rather simple, one can only say that Robinhood provided the service as expected or did not. As I’m sure Robinhood is well aware, trading was restricted on a number of shares due to “volatility” as your messages called it. Later, an explanation was provided that the clearinghouse would not approve trades in certain equities due to this volatility. As a service which provides access to the stock market via commission free trading, Robinhood and its clearinghouse should have been aware of such volatility’s prior to the events that unfolded. Instead, it’s users were denied an opportunity that many have acknowledged may never happen again. In short, Robinhood employs a streamlined and user-friendly means of interacting with the stock market. However, this comes at a price: such access can be denied whenever Robinhood is unprepared to deal with foreseeable issues. It leaves this user to wonder whether there aren’t more reliable platforms that may not look as nice.
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2 years ago, Victor lasher
Great trading platform
I really enjoy using this platform with its sleek design and not to much detail but enough to make it easy to look at without missing out on important features. Although I don’t understand the pattern trading/ day trading restrictions. I have started trading options and i need to be able to buy and sell quickly. Such as I was up 25 percent on a options and couldn’t sell it due to having other day trading warnings before i get to number 4 and then get my account restricted. Although through research i have found out you only need 25K in your account to bypass this. Which for a small trading account such as my self it’s hard to get 25K (When i say small say trader i mean an account under 1K) So i was just wondering if there was anyway i could go about getting this removed but still being able to day trade. Edit: I have also now seen that if you turn off instant deposits you can also say trade but that then restricts me from reinvesting me profits from the last trade which at least to me is very important because i am a very small trading account. If there is anyway you could help me so i can day trade without 25K in my account or turning off insistent deposits then that would be great.
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3 years ago, Thpanthony
Good interface
Not gonna lie. The confetti interface that was carried out did have more of a childish effect when seen, but glad that was cleared out of the way and more into a direct looking transition when depositing money like seen in other accounts. Organizing lists of stocks/ETFs are pretty spot on with the advantage of their filters to sort out in multiple ways, which is nice to have in mind. Would be good to see them organize their crypto portion of things since it does provide three solid categories of Ethereum, Alt Coin family and Cryptocurrency as a whole; but would like to see more of their additional alt coins that they may want to add into the crypto database for us investors to trade into, even though it’s mainly a stock brokerage platform than a crypto one of course. But since they’re a few coins that have gained popularity in the app such as DOGE, it would best to see if they may want to add a few more alt coins in there that are trending in popularity or traction that can be bought or sold in order to have additional income progressing as some alt coins have done so and currently still do so. My two cents on this point but overall a really great app to trade into as they keep implementing new improvements each time in their platform.
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2 years ago, grantjones5
Robinhood stole $1000 from me for trying to change my phone number
Okay, where do I start. I got a new phone number. To log into robinhood, I had to do a 2 step verification with the old phone number I had. Since I didn’t have that phone anymore I couldn’t do this so I went along with Robinhood’s support to change my phone number within the app so I can access my assets. When I was talking with their support, it took forever to get a response, and I kept getting the same response which makes me think I was just talking to a robot. They would ask for my SS number, pictures of my driver’s license, picture of the SS card, etc. I was happy to provide all the information necessary because I just wanted access to my account. They then asked for a pdf of my last bank statement with my bank account number in it. I talked with my bank and they said they don’t provide bank statements with the account number, but with my member number. So I told the Robinhood support this info and they LOCKED my account. I was even able to provide everything about my bank account but simply couldn’t do that because it was impossible and Robinhood wasn’t understanding whatsoever. To make things much worse, I receive emails a few days later for each stock I owned being sold (over $1000 worth). I have no access to my account so it is impossible for me to do this. Robinhood took $1000 from me and all I wanted to do was change my phone number on the app.
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3 years ago, Chaselic204
Pretty good app, missing a few things
I wouldn’t listen to all the one star reviews that say Robinhood is working with big money to scam the common investor but be aware that Robinhood has done some illegal practices in the past such as not explicitly stating their business practices and way of making money to the consumer which got them into trouble with the SEC. The app itself needs some work, I think the graphs should have a bit more detail to them, even Yahoo finance has them beat there with their 1 minute scale 1 day graph. I also really wish you could trade limit fractional shares because I’m just getting started and wanted to be able to use a limit order instead of a market order. Other than that it’s a pretty good app that’s visually pleasing, and has a much better design than any other brokerage interface. EDIT: I just bought a few dollars of Bitcoin to test it out and I can say that buying Bitcoin on Robinhood is basically a scam. If you buy a market order, the price you pay is at least $100 higher than what’s shown on the chart, and when you sell you get $100 less than what it states on the chart. And if you think that you can get away from this with limit orders, let me tell you that they never fill when the price goes to the level you wanted, and only fills once it goes a few hundred dollars above or below the price in the direction that loses you money.
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2 years ago, Rock Creek Dave 82
Robinhood Simplifies Stock Trading
Robinhood is such an amazing app because any average person with a computer or smartphone can literally in minutes begin investing and trading in stocks and the most amazing thing is there are no trading fees! Users are not required to purchase anything, no monthly fees and there is no minimum for purchases and the app is built so that it is so easy to research and learn about stocks as well. They have a fantastic news feed so one can stay up to date and educated about business, simply from browsing the news feed. I like how you can go at your own pace. You can invest big or you can take a more conservative safe growth approach. They pay out dividends on stocks automatically. You can also trade cryptocurrency on Robinhood. Their reference program is also great. They will give you a free stock just for referring someone else to join up. One can now buy fractional shares on Robinhood, they have an optional and very nifty debit card one can get so you can go shopping and spend at stores right out of your Robinhood account. I have so many good things to say about Robinhood they are so innovative. The best thing is how user-friendly the whole thing is. You will definitely not regret getting into Robinhood!
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3 years ago, brownflash
Unethical practices and false advertising
Here is a few things other than Robinhood’s recent restrictions on buying stocks 1) Robinhood sells your options an hour before the market closes, let’s say you have an option contract worth 50$ at 2:00 P.M. and you chose to wait till 3:00, Robinhood sells it for lower than market price ( it doesn’t market sell ) 2) what happened with Reddit stocks can happen with any stock on a volatile day, however it didn’t happen with KODK, let’s say the volatility was too high with GME, Robinhood is still unprepared for future events. To understand this better if everyone at Reddit chose AAPL instead, Robinhood would’ve still done the same as it doesn’t have enough money to clear the sales, which again brings back false advertising 3) people committed suicide cuz of Robinhood’s exploitation of amateur traders by lucrative margin offers and stupidly ridiculous user interface which is claimed to be user friendly however in stock market you need informative interface over bright colors that make it seem like a game 4) options are going to ruin the stock market due the bubble they create, Robinhood made this worse by approving amateur traders to trade options, for example I convinced my friend to create an account in Robinhood with a portfolio value of 300$ and 2 days later he got his options enabled, same guy who banks with chase and had an investment account with them for over a month with 2000$ in portfolio value got denied.
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3 years ago, One time too many!!!
In 2017, I first heard of Robinhood from a coworker, but at that time I was not interested in stocks because I had so many other things taking my money as fast as I could make it. The one thing I did was start a 401k and contributed to that every pay period (as a straight deduction because I was not disciplined enough to do it on my own). I told my coworker to send me the link to the app, and I would join. It was sent to me, and I sat on it for a year. Finally, I decided to join. It has been a rough ride. I didn’t understand it fully, but Robinhood ( and how to videos) made sense of the things I didn’t understand, and their customer service has been great. So many times I thought I was being screwed, but when I would explain what I wasn’t happy about, the CSRs would explain the situation, and almost every time it was because I failed to read something I should have. I am a believer in being accountable for my actions, both good and bad. If you are the type that finds that things happen to you because someone should have told you, then don’t waste your time, you are not ready for this. It is real money you are working with. All of your moves are your own, and ignorance is not an excuse!
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3 years ago, Phone Philmmaker
Investing for anyone
Robinhood is a great way to start investing cash in stocks with fractional shares, which generally start at a dollar. It doesn’t have to be your life savings, it can just be like $20 here and there. Rather than having the money sit around, it can grow with the market, and appreciate in value generally faster than the interest from your bank or whatever. It’s not a game, you could lose real money, so be careful. FTC rules dictate that you can’t do risky moves like day-trading if you don’t have tens of thousands to play with, but that’s probably for the best. There’s some weirdness around wait times for bank transfers and some controversy around whether you really get the full value of what you buy, due to the financial mechanisms they use to make trades “free” - but that’s to be expected for financial services like this. The app is nicely designed but a little buggy - sometimes it loses track of what’s in your lists and what isn’t, for example. When trading crypto it’s not as fast or as granular as a real exchange. It has a news feature which is pretty informative. All in all, if investing is something you have been wanting to try, I would recommend giving it a shot through Robinhood. It’s fun! Just be careful and smart about it. Like gambling, don’t wager what you can’t afford to lose.
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3 years ago, danburyfusha
I love Robinhood
I can buy and sell stock quickly for free. Just transfer what ever amount of money from your bank that you need. If you are a higher level member (only 5.00 a month ) you can buy stock even when your money being transferred from your bank to Robinhood is still being processed. That is a huge perk. I love the explanations about the companies , graphs and various easy to access data. It’s a visual pleasure to look at your stock as compared to other companies which their displays are sterile bringing back math class stress. Robinhood makes it fun with happy picture text when you buy or sell a stock. I know there are many things I could do with this app that I have not even scratched the surface and will eventually learn. I’ve only been buying and selling stock for a year, so it is great for beginners . You don’t pay any commission fees. I now look at my stocks on my phone whenever I want. My downtime like my lunch time a work, I look forward to checking my stocks. I watch stocks or research companies instead of looking at Facebook or Instagram. You can read articles about the companies stock that you own too. I even like to watch the free stock they gave me when I downloaded the app.
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1 year ago, Pr0DaG3e
The easiest on the eyes
In comparison to the competition I find Robinhood to be significantly easier to look at and more intuitive and natural to navigate through and find information in. My honest opinion is that I think apps like Webull and robinhood ect. All pretty much have the same data points to put on a chart, it’s l subtle but I think important IMO. To have “a clean chart” the information you choose displayed in a way that’s easy to visually digest. If your chart gets “to busy” then datapoints you have chosen to be displayed get absorbed into the background of your chart and they end up missed or overlooked . Robinhood displays the information in the most clean and easy to digest way; while Webull comes off as more advanced I’d really argue it’s busy and/or messy and that Robinhood has all the same features and function of Webull minus the feeds (social aspect) Of webull plus having a Roth IRA option with a 1% match on funds is a deal sweetener for sure… so is the spending section/account and the bank-ish features and services that it offers not. Last but not least… “Instant deposits” a feature that’s optional but allows you to invest and spend incoming to Robinhood, pending funds, so you can get to losing it faster
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3 years ago, JSourPower
Fantastic for new or casual traders, room for improvement with crypto
Pro’s: Great, easy to use platform for stocks and options. Excellent for beginners and/or a casual investor or someone that does small or “hobby” investing. Easy and fast to buy/sell. $0 fee trades. The $5/month for Robinhood gold is worth it if you make frequent trades and/or want access to margain (first $1k is interest free with gold membership). Con’s: very few crypto offerings (and you don’t get your own wallet, so essentially you’re purchasing a coat check ticket for the crypto robinhood already owns). The extra information you get with a gold membership is pretty worthless and common knowledge stuff, so a gold membership is a waste if you aren’t using the margain features (if you use the full $1k you’re allowed interest free you’re basically paying 6% apr on it if you factor in the $60/year you pay for gold membership.) Too many Benzinga type (junk) reports pushed. Robinhood does seem to “gamify” quite a bit- bright, flashy colors and logos, etc. - makes it very easy to make trades based on emotion or spur of the moment decisions. Unable to make trades when the market is closed (can make limited trades shortly before and after market hours but only to other users within the robinhood ecosystem)
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3 years ago, Sully420King
I loved Robinhood, until they became shady.
I’ve been using Robinhood for over 3 years now, and honestly, I loved it, especially once they allowed the buying of fractional shares. However their recent actions in response to GameStop, Blackberry, Nokia, AMC, Dogecoin, and other stocks & cryptos, is shady, and as an investor & customer, disappointing. They gave an explanation for their actions, and it was an extremely poor excuse. What they’ve shown me is that they are not in favor of their customers/investors when they compete with major Wall Street hedge funds. They will turn their backs on the small time investors, which is the majority of their customer base, and side with the big hedge funds. Robinhood wants you to invest on their platform, but they do not want you to succeed in your investments beyond a bar that they’ve set, that can change at any time that they choose. I’ve given them an average rating of 3-stars because when I first started using them I give them 5-stars, but now that I’ve seen the true colors of their business ethics, I give them 1-star... and that’s being generous. For the moment, I’m still using them out of convenience until a few of my stocks mature, but once that happens, I will be closing my account and moving to a non-restrictive platform for future investments. I suggest that others do the same if they intend to make money with their investments.
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5 years ago, Sneeze stu
Great idea but lousy service
I have been using this app for about a year. I have used e trade for many years but wanted to save money on my trades. The app works fine. The company however is very shady. On more than 1 occasion the trade price increased right when i bought it. Every time I end up paying the difference. The customer service is horrible you can’t talk to anyone and it’s all generic email responses that don’t even respond correctly. Just recently I signed up for their Robinhood Gold which is their margin account product. It was initially advertised as use it and they will charge $15 a month if you have a balance. Then it changed to $15 a month if you have a balance or not. I have been trying to cancel it for 2 months now. I’m still getting charged $15 a month for nothing. There is no way to call in and the robot emails from customer service are programmed to refuse any inquiry that involves a refund. I like the price but with the hidden charges every where and the lack of caring for their clients I might go back to e trade. Free trades sound good but obviously they need to make money so they have a business plan of hidden fees and secret support that you can’t talk to a live person. I wouldn’t trust this site for your entire portfolio.
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3 years ago, Lakota language learner
I Quit Robinhood
The App itself has a great user interface, but it is not good for a serious investor. I have three main complaints. 1. Robinhood does not give you best execution. That means that if they can execute your limit order at a better price than what you specified then rather than give you the extra money, they will pocket the difference. 2. Robinhood is bad at options trading. If you are doing spreads they sometimes don’t recognize that you are trying to do. For example if you sell a put with a $40 strike price and you buy a put at a $30 strike price, you are doing that to cover yourself in case the stock takes a dramatic plunge. However if the stock drops to $20 and you are assigned on your $40 put it will assign you those shares rather that excercising the $30 put simultaneously so that you are only out $10. 3. They control what stocks you can trade. They are democratizing investing, but only when they like your investment. A few weeks ago they shut down trading on Game Stop and the few other popular tickets which hurt retail investors efforts to trigger a short squeeze. Robinhood claimed to be doing this because they did not have the capital requirements for their broker and there is truth to that. However the leadership was not transparent about this while it was happening. And even so, if they are set up so that their brokerages control them, then maybe we should use a brokerage that gives us more freedom.
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4 years ago, Iman91 ir
Very bad, unorganized, and confusing customer support.
I have been using Robinhood for almost a year and a half. Everything looked good and loved it until recently that I faced and issue with my account and had to deal with the customer support team. First of all, there is no phone number to call and talk to someone, and the only option is to email them ! And here is when your problems start ! Dealing with the customer support. I emailed them about my issue and it took them 11 days to respond ! 11 days ! I understand due to COVID-19 pandemic some business are facing difficulties and some people work from home but 11 days is a long wait considering robinhood customer care employees work from home. After that they asked me to upload some documents to their website, and I did. Now its been 4 days that I am waiting for someone to review the documents and respond ! But the confusing part is that each time someone else reviews my case ( I understood that from the end of each email that each time I see a different name of the employee who responds ), and each employee asks me the questions that I have already answered in the previous emails !! I don't know how many times I will have to answer the same questions and how long till someone who actually cares will review the documents that I submitted!! So before starting with Robinhood make sure and hope that you will not face any issue otherwise good luck with that !!
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3 years ago, mathgramma1
Love Robinhood
I have only been trading with Robinhood for a little over a year. At first I was very nervous, but I had been hearing about a few stocks that I wanted to invest in. I am not wealthy so this is going to sound penny-ante to most of you, but the fact that I made over $600 profit in 3 months thrilled me! That is so much more than I could have done with a savings account! I cashed out and regrouped. I picked stocks that I think the future looks good, like LiteCoin LTC, and I picked some stocks because I believe in the company, like Southwest Airlines LUV, and I also picked some stock just for the fun of it, like Doge Coin! I bought most of Doge when it was $0.05 or $0.06! Lol! What fun! Right now with my little bit of money that I have invested this time My profit is over $1200. Again, very small for most people, but I keep adding to what I like and if I see something go down too fast for me, I simply sell out or sell and reinvest. This review is for the not wealthy person who wants to give this a try. Don’t invest more than you can afford to lose! It could all disappear! But if you have a little money you want to play with, this has been a great way for me to learn a little about the mysterious Stock Market.
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