|Full Name||Robinhood - Investment & Trading, Commission-free|
|Get it On|
Robinhood is a stock trading application, which provides an online trading platform for investors for free. Although Robinhood is a free application, its value was up to 1.3 billion USD in 2017. But when this application was first established, people could not be sure it would be successful because there was nothing to believe. Originally, it was just a simple idea. Now, Robinhood has become one of the most popular stock trading apps in the world with hundreds of millions of users.
How to start with Robinhood
Before you trade with Robinhood, please learn some rules of the app:
– Users must be 18 years +.
– Besides, you need a valid social security number
– Also, users need a US residential address.
– You must be a US citizen, permanent resident, or have a valid visa.
Moreover, users can register this information on their website system. This is something you have to do to prove your identity and Robinhood will also take your credit report. It means that you may have to wait a few days for it to be approved. Sometimes, it may only take an hour. Once you are accepted (you will receive an email), you can download Robinhood to your phone (available for iOS and Android).
Link with the bank account:
– When you log in to the app and ready to go, you will first be prompted to link your bank account. At this point, you can click on your bank if it appears.
– If your bank is not listed, you can tap “more banks” below and enter your bank’s name.
– If your bank still doesn’t appear, please click the link “I can’t see my bank link”. Besides, you will need to manually enter your account and other information.
– After linking your account, Robinhood makes two small deposits that you will have to confirm in the app.
– Once you successfully link to your bank account, you can transfer money via Robinhood. Specifically, you can enter the amount you want to transfer then press the Direct Rate button. If it looks good, you tap Submit Submit to complete the transaction. Transfers under $ 1,000 happen instantly, while larger amounts take 4-5 business days.
Buy and sell stocks:
– When you have money in your Robinhood account, you can buy and sell stocks immediately (as long as the stock market is open). To get started, you can tap on the search button in the upper right corner.
– Enter the symbol of the stock or the name of the company, and select the appropriate search result.
– You have displayed the stock’s current price, a line chart of its recent price history and a link to buy the stock
– Besides, users can get more information about stocks by scrolling down. At this point, you will see things like stock news, trading volume, market cap, P / E ratio, and more.
– If you have decided that you want to buy stock, please press “Buy Now”.
– After that, you will get order details and then swipe up from the bottom to make a formal purchase.
– If you want to sell the stock in the future, you would tap Sell Sell instead of Buy on the stock’s page. Then, the process is exactly like buying a stock, only this time you sell it.
In general, Robinhood is a helpful application to buy and sell stocks with simple operations. It is very convenient when you are far from the transaction point. Moreover, Robinhood has affirmed its position in the market and become a very popular stockbroker for investors in US stocks. Readers can download it at the link below.