Here we are going to talk about the Robinhood App which is considered one of the best stock trading apps for beginners. This stock application is available to download on Android and iOS smartphones and on desktop as the website.
In this article, we are going to discuss few things about this stock tracking app – like how does it make money, can someone outside the US can download Robinhood, is suitable for beginner investors, and so on.
So in any case, if you are Looking for RobinHood App Download, Have Questions about Robinhood Stock price, or want to get Robinhood free stock.
Whether you want to know How to Robinhood sign up or wondering why can’t I download Robinhood App in India then this post is for you.
Robinhood App Review
The Robinhood App is an Investment, Trading Application available for Android and iOS smartphones.
The one very thing that separates it from any other Trading App is there, You do not need to pay any commission to opt-out of the services that this App offers.
The app will not charge any money from the investors and it’s simple to use/navigate Ai, available on both iOS and Android makes it suitable for novice investors who just begin their investing journey.
This App gives you a chance to start investing just from rs 1. You can start investing your money right away from your Smartphone using your Credit or Debit card. Not only the conventional money you can also buy and sell Crypto without giving any commission.
It makes investing so much simple that anyone can Start Investing right Away.
With the help of the Trading tools that this App will provide you, you can Buy funds, Bitcoin, manage your cash.
It also has Guides that explain How financial markets work for you.
So in essence, So far this one is the Best Investment & Trading App if you are Beginner and don’t want to Give commission to anyone.
Suggested: VI App for Trading
How does Robinhood make money?
Robinhood is a platform available for both mobile and website offers Commission-free trading to everyone.
Even if the company did not get the commission it generates a Huge income by Payment for Order flow or few other means.
But mostly its income comes from order flow where they receive money directing orders to few other parties for the execution of the trade.
It may seem small for the single retail investor who only invests in a small amount, but when we multiply with all of the trades that are generated by this, It is a substantial amount.
Making this App commission-free company attracts new investors.
According to reports that we have received from news sources in the year 2018 alone, they generate then 69 Million dollar revenue just by order flow alone which was not even 40% of its total revenue.
Is it really free?
for the investors, this app is completely free. As per the company’s commitment, they didn’t charge any commission from the traders and they are not going to charge any money from the investors.
The majority of Robin Hood Income comes from order flow which they receive after the execution of trades.
So it is safe to say this stock trading mobile application is completely free of any brokerage charge.
Is Robinhood App safe and legit?
Robinhood App is safe and completely legit as much as any other available stock & investment broker.
The thing that separates this from others is others that other Stockbrokers will charge you brokerage for trading stocks.
While this app will not ask you for any commission.
How does Robinhood App work
Robinhood App works just like any of the Stockbroking app works. In terms of making revenue instead of Charging brokerage, they make it by few other means.
Here is the How it makes money-
- Rebates from market makers and trading venues – Once investors make any trade on this platform, the market offers rebates on brokerage.
- Robinhood Gold – This is a tool that is designed for investors who want an advanced suite of investing tools. Using it is optional, but to use it trader has to pay 5 USD monthly charges.
- Stock loan – This Stockbroker lend loans to other counterparties in exchange for interest.
- Income generated from cash – The invested cash that users add to this app also generates income as a form of interest.
- Cash Management – Generating money for managing cash from partner companies.
More Details mentioned on this topic on the Official website here
Investopedia also explains this business model.
Robinhood vs Cash App
Both mobile applications are an amazing platform for building wealth, especially at zero charges.
However, the Cash app provides you the functionality to start saving only from 1 Dollar.
Here is the video that does a better job to help you decide between Robinhood vs Cash App.
In the video, Carter Farr does a good job to decide which one is a better choice to choose.
Other best Stock trading Apps for beginners (Alternatives)
If you are looking for other best Stock trading Apps for beginners or simple word Robinhood alternative, here is few of them-
- Cash App – Also offers you free of charge investing. You can start investing just from 1 USD investment.
- WeBull – Better suited for intermediate of advance investors who are trading in the stock market for a long, long time.
- TradeStation – This one also offers commission-free stock and options trading. It is best suited for advanced investors and traders.
- Moomoo – Moomoo is ideal for novice traders who are very much cost-conscious over the fees they are paying along with while buying the stock.
- M1 Finance – M1 Finance is an automated investing platform. But here you should at least 100 dollars for a regular account, and for a retirement account, this goes to 500 dollars.
Robinhood App Download
| Variable | Value |
|---|---|
| App Developer | Robinhood |
| Total Downloads | 10,000,000+ |
| App Rating | 4.4 |
| Last Update | June 20, 2020 |
You can Download Robinhood App for your Android, iOS mobile phones from the official App stores.
Availability on both of the Major mobile operating systems makes it easy to download and install on the majority of smartphones.
Download Robinhood App Apk for Android
Here is a process that you need to Follow to Download Robinhood App Apk for Android –
- First head over to Google play store Download page, Here is the link.
- There click on that green install button.
- The installation will start, wait till the app is completely installed on your Android mobile phone.
- Once the Apk installed on your phone then you can proceed to register a new account or log in to your existing account.
Download Robinhood App for iOS from App store
Here is the process that you need to Follow to Download Robinhood App for iPhone, iPad, iPod touch, or any other iOS device available –
- First head over to the iOS App store Installation page, Here is the link.
- You will be redirected to the iTunes App Store app on your iPhone, iPad, or iPod touch device.
- Now click on the install button to download App.
- wait till the app is completely downloaded on your Apple iOS Smartphone.
Now you can open the iOS installed in iPad, iPhone Smartphone then you can proceed to register a new account or login into your existing account if you already created it.
Robinhood Desktop App Download
At the time of publishing this article, there was no Robinhood Desktop App, since there is no desktop app you can not download on your Windows 7, Windows 8, Windows 10 Desktop/Laptop, or Mac.
However, you can use the Web version, which can be used from any computer’s web browser.
So if you are looking for Trading from your computer using the same account that you logged in to your mobile phone then you can head over to the official site and just use the web version.
Suggested: Credit Master App by Alpha Team
How to Download outside the US in India?
This Application is strictly designed for NYSE – The New York stock exchange.
The stock exchanges of India are NIFTY and Sensex which are actually not available on this app.
If you really want a perfect stock trading app then you can download apps like Groww App from the Google play store and iOS app store, which I personally use for investing.
If you have a PC you can Open Zerodha Account which not only allows you to trade in stock but also in Currency, Forex, Commodity, and Mutual funds.
How to do Robinhood login
Once you download and install the app on your Mobile phone then the next step to start investing is to just create a new account.
If you are new to this Application then you have to register an account first if you are registered then you can do Robinhood login in your account.
Robinhood Customer care number
In case of any assistance or if you are facing any problem you can contact Robinhood Customer care using the information as mentioned below-
- Customer support email: help@robinhood.com
- Official website: https://robinhood.com/
- Customer care number: (650) 940-2700 (between 9:30AM t0 4:00AM EST on workdays)
So that’s my review of the Robinhood stock trading App.
What do you think about it? You can share your Review/Feedback/Opinions in the comment section.
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