Review on Robinhood by Fanuel PORPORTY
What is Robinhood?
Robinhood is a free trade app that allows investors to trade stocks, options, exchange traded funds and cryptocurrencies without paying commissions or fees. Until recently, Robinhood stood out as one of the only brokers to offer free exchanges. But with many reputable online brokers eliminating trading commissions and fees at the end of 2019, the bright light of Robinhood has dimmed a bit. That said, it's still a solid choice, and it's currently one of the few brokers that gives investors the ability to trade cryptocurrencies. Robinhood offers both web and mobile transactions, but the platforms are deliberately bare, and some investors may find the range of marketable securities and account options missing.
Pros
- No account minimum.
- Streamlined interface.
- Its intuitive interface makes it easy to use for both advanced investor and beginners
- Gold and margin trading available
Cons
- It makes hidden money through Payment For Order Flow (PFOF)
- No credit cards and online payment system
- There is very little research available
