Warning: sprintf(): Too few arguments in /home/mariysuv/public_html/wp-content/themes/covernews/lib/breadcrumb-trail/inc/breadcrumbs.php on line 254

An Unconventional Guide On Robinhood • CryptoMode


Since the emergence of Fintech, there have been radical changes in the Finance sector. The transition from traditional methods to contemporary approaches with technology is remarkable. From banking to insurance to trading, technology has positively made a tremendous impact on financial services. With fintech, investing has become a lot easier and accessible. That is where Robinhood comes into the picture.

If you’re keen on investing in stocks or you are already into it traditionally, then you should start trading using Robinhood. Robinhood is a prominent platform for the traders out there due to its exceptional services and features. Let’s take a look at it in detail.

What exactly is Robinhood?

Robinhood is an online platform for traders founded in 2013 by Vladimir Tenev and Baijju Bhatt. It came as a massive setback to the old trading methods as it was completely online and, the most rewarding element was that it was commission-free. 

They have a website and also a mobile app where you can invest in stocks and options through Robinhood Finances. You can also trade using cryptocurrencies through Robinhood Crypto. With over ten million users, it has unquestionably blown away the traditional markets by storm. This app has made it a lot easier for the newbies who are interested in trading. 

The best part about this is that you need not keep any account minimums and, it is commission-free, unlike other traditional brokerages. A vast number of users are youngsters in their mid-20s. It has spiked interest among people of every age. It’s fun, and can easily connect to the financial markets with just a tap on the phone.

What are its features?

Robinhood offers a wide array of marvelous features, which makes it the top choice for traders all over. Some of the best features that it provides are.

  1. Zero commissions – This is where Robinhood shines when compared to other brokerage firms. It provides free stocks, options, and crypto trading. That makes it so much better for the not-so-rich investors. The main reason why it has got a million users is because of this very thing. 
  2. Easy to use – Since it’s completely mobile-based, it is easy to use as everyone these days are bound to their mobile phones. All you have to do it to sign up and go through entering quite a few personal details and, you’re good to go. You get notified instantly if there are any changes in the stock price and, also, verification is done quickly with some of the major banks. 
  3. Account minimum – You can start right away as soon as you sign up with Robinhood. It does not have an account minimum, but as per the regulations set by the FINRA, you need to have a minimum of $2000 portfolio balance for a margin account. 
  4. Good interface – A good design is what makes a user happy. So, Robinhood has understood the users and has come up with an impressive interface that gives a pleasant user experience during their journey with Robinhood. It is what makes trading more straightforward than ever before.
  5. Fractional shares– With the introduction of fractional shares, you need not pay a lot to buy a share. Even with a dollar, you can buy the shares from various companies. It is one of the best features for people with limited money. 

Who is it for and, what are the risks involved?

Robinhood is for anyone interested in trading. But it is most beneficial for young investors around the globe. With as little as a dollar, one can start buying shares of preferred stocks of some of the renowned companies like Amazon, Apple, etcetera. How exciting is that when you get to own the shares of such companies. If you’re new to investing, then this is the right place for you. They even have tutorials where you can learn from even if you have no idea about trading. 

Coming to the risks involved, well, there are no risks in investing in using their platform. It is safe for users. However, one needs to have the right expertise before plunging into the financial world though it sounds exciting. Only then you can call it safe for investing. You will lose money if you do not make investments in the right stock. It is inevitable during times like these. One needs to be smart enough and know the ins and outs of trading to be able to pull off flawlessly.

Is Robinhood safe?

But is Robinhood safe? It is regulated by the Securities and the Exchange Commission, so it is safe. You see, SEC regulates any securities brokerages and, Robinhood has to follow a lot of rules and regulations. So, you do not have to worry about your money, not being safe. It is also a part of FINRA. No way they could get ten million users if it was not safe enough. They have put their customer’s safety at the top of their priority and, has taken the right measures to provide security and protect the data and the money. So they are entirely reliable and, one could not ask for more. SIPC protects your money, and hence there is added security for your funds.

Conclusion

Summing it up, Robinhood is a simple and inclusive platform for investing. With all the best features, one can easily buy shares of their favorite stocks from some of the biggest companies. With the best interface and also a lot of educational stuff, it is the most reliable mobile platform for trading. It is safe and also trustworthy with being regulated by the top bodies. 

The commission-free aspect has made young investors get into the world of finance and start investing before stepping into big investment decisions involving large amounts of money. It has proved its worth by having over a million loyal users and is growing day by day. It is truly making headway in the financial industry, giving the best to its users than the conventional methods.

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!