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Robinhood is a website and a mobile app for iOS and Andriod users that allows you to buy, sell, and trade stocks for free. The Robinhood founders wanted to “democratize the financial markets” and provide an avenue for many to begin investing. Robinhood is registered with the SEC, a member of FINRA and has Securities Investor Protection Corporation (SIPC) insurance.
Robinhood is a mobile app (and now website) which focuses on simple tasks. It does not have all the features you may find with a traditional discount brokerage. The streamlined app can actually be a benefit for the beginner or more seasoned investor seeking simplicity and ease of use. Robinhood trades are not self-clearing and use Apex for its trades.
Absolutely no fees.
Curious how Robinhood makes money? In their FAQ we found Robinhood may earn from margin lending interest and interest on any uninvested customer cash deposits. Additionally, the Robinhood Gold service with a monthly fee is another source of revenue.
There are no account minimum balance requirements, nor will they charge a fee for an account with a zero balance.
As of March 2018, Robinhood is offering a free share of stock for new users. Your share is random but can come from Apple, Ford, or Zynga.
Robinhood Gold is the premium service offers investors access to additional features and services.