Robinhood (Free Stock Trading)
In my last post, I mentioned that I was going to "play around" in the stock market. Well I recently learned of this new company/app called Robinhood. It's the new age of stock trading for millennials like myself. Previously, I've used Schwab or Fidelity but buying and selling stock was costly. Millennials are dabbling in the market because of the current returns and this app makes it extremely easy to purchase and sell stocks. Robinhood was influential for Snapchat when it IPO'd because many millennials purchased Snapchat as their first stock and they used Robinhood to do it. I highly doubt Snapchat is a great investment, but this app is a game changer in that it's removing barriers to entry into the market.
If you're tired of the status quo pricing for stock trading, definitely give it a try. Robinhood is very intuitive. It makes buying and selling stocks very easy at no cost. This is not a day trading app, which means you can't buy lots of one stock and then sell it the same day. You can get away with it a few times, but the account will lock up if you're a repeat offender. Just note, it takes a few days to get your money deposited into the account so deposit some and get ready to buy.
The stock watch list is also another great feature on this app. It's a list of all of the companies you're thinking about buying with the ability to look at historical prices by pressing on the screen and skimming specific date ranges.
For me, this app is great for buying stocks with a click of a button. You can't do strike prices or sell prices, but it let's you buy in realtime. Let's see where this takes me. Hope the market continues to trend up.
If you're tired of the status quo pricing for stock trading, definitely give it a try. Robinhood is very intuitive. It makes buying and selling stocks very easy at no cost. This is not a day trading app, which means you can't buy lots of one stock and then sell it the same day. You can get away with it a few times, but the account will lock up if you're a repeat offender. Just note, it takes a few days to get your money deposited into the account so deposit some and get ready to buy.
The stock watch list is also another great feature on this app. It's a list of all of the companies you're thinking about buying with the ability to look at historical prices by pressing on the screen and skimming specific date ranges.
For me, this app is great for buying stocks with a click of a button. You can't do strike prices or sell prices, but it let's you buy in realtime. Let's see where this takes me. Hope the market continues to trend up.
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