3 Ways Understanding Trading apps like Robinhood

There are many trading apps like Robinhood that started recently. As the app launched in 2014, Robinhood has become the only mobile brokerage app. It aims to help people to access the financial market easily.

Nowadays, Robinhood has gained popularity and is used by over half a million people. Here is some information about it.

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Defining Robinhood in Brief

Robinhood is an app that offers free stock trading. It becomes the first one offering an investment with a free commission to the public.

Its main targets are younger investors with services directed to democratizing finance. They select the young generation because these people may not have much money. So, Robinhood tries to stress the benefit of commission-free trading.

Services Offered

This trading app has multiple services. It offers commission-free stock, ETF, and cryptocurrency. Moreover, it offers trading options for users to experience it.

Trading apps like Robinhood provide no minimum account requirement. It has a platform that is intuitive and has an appealing visual look. Thus, it attracts many seekers as an alternative for a larger brokerage.

Robinhood has a full-service trading platform. Meanwhile, some trading apps are lacking that.

If you want to use it, you can select a paid account called Robinhood Gold. This option provides higher instant deposit limits. Besides, there is a service of pre- and post-market hours trading windows.

Aside from that, you can also use the trade options. You have to maintain your account balance with a minimum amount of $2,000. Subscribe and experience trading now.

The Advantages

As mentioned earlier, this app is booming, especially among millennials. It has become popular because of its affordable services. Additionally, it is easy for beginners to start investing their money.

Although other online platforms appear, Robinhood can lead the competitor. Therefore, trading apps like Robinhood suit new investors. (pc)

Also Read: App for cryptocurrency trading

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1 comment for "3 Ways Understanding Trading apps like Robinhood"

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