- Investment products
- ETFs, options and cryptocurrency
Robinhood is a solid option if you’re looking for a broker that’s focused on mobile app users. It offers commission-free trading with no account minimums.
Robinhood has some educational materials for new investors, but access to research reports is exclusive to Robinhood Gold, its paid subscription tier. Other features, like investing on margin and larger instant deposits, are also only available to Gold users.
Several aspects of Robinhood make it appealing:
- Commission-free trading
- One free stock for new users
- Instant deposits up to $1,000 for free users
Some disadvantages with Robinhood include:
- Some features require a paid subscription
- Limited research materials compared to other online stockbrokers
Several reviewers have praised Robinhood for its easy-to-use system. Benaiah from Pennsylvania said: “I love that Robinhood allows ordinary people to invest in the stock market and have a chance at earning on their own there. I love the insights the company gives and how easy the platform is to use. I loved how easy it was to set up.”
However, other reviewers have described frustrating situations with Robinhood, such as accounts taking too long for verification. One reviewer from New Jersey noted: “I have been trying to get my account verified for over 11 days. Their email support seems to be misleading and not secure at all. They send email every other day from a different person asking to send ** and when you send you get another one.”