Posted on Monday, May 18th, 2015 by Will Hagle
Robinhood is an app that lets you buy and sell stocks without brokerage fees.
Investing in stocks is typically a daunting task for those unfamiliar with the way the financial market works. You either have to rely on an advisor to make decisions for you, or you have to pay unnecessary fees in order to work with stock brokers. Now, you can do it all with Robinhood. The app was designed with the intention of democratizing access to the financial markets, making it easy to invest with just a few clicks. It has a simple, easy-to-understand interface that helps both beginners and serious investors get involved in the markets. The best part is that the company takes $0 in commission.
During its initial run, Robinhood has only been available in the U.S. The company recently raised $50 million from investors, and it plans to expand to Australia soon. The app is also expanding its platform — building an Android app to accompany its current iOS app. The current, U.S.-based iOS app has a ton of great features that make it preferable to investing through a brokerage firm. You can monitor your profile on a daily basis, seeing a detailed report of which stocks are up/down and how much money they’re making you. You can easily buy and sell stocks with secure identification. Although Robinhood doesn’t offer a way to get fully involved in investing, it does offer a great opportunity to learn the markets with minimal risk but with real money. It’s worth a download for anyone interested in the way the financial markets work.