Robinhood

Robinhood is a pioneer in commission-free stock trading. The app allows users to invest in stocks, ETFs, options, and cryptocurrencies without paying traditional brokerage fees. Its intuitive design makes it a favorite among beginner investors looking to build a portfolio.

Frequently Asked Questions

1. Is Robinhood safe?

Yes. Robinhood Financial is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash).

2. What are the fees?

Robinhood offers $0 commission trading for stocks, ETFs, options, and crypto. They make money primarily through 'Payment for Order Flow' and their subscription service, Robinhood Gold.

3. Can I buy fractional shares?

Yes. You can invest in expensive stocks like Amazon or Apple with as little as $1.00 through fractional share trading.

4. Do they offer retirement accounts?

Yes. Robinhood now offers IRAs (Individual Retirement Accounts) with a 1% match on every dollar you contribute.

5. Is there a minimum deposit?

No. You can open an account and start investing with $0 minimum deposit requirement.