Robinhood review, 2021 Update

Robinhood Guide – Read our In-Depth Robinhood Review

This Robinhood review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.

Please note that due to regulations, the content in this Robinhood review does not apply to US users.

This Robinhood review contains the latest information about Robinhood.

If you're a new entrant in the realm of trading and brokerage, so many details will be perplexing for you. Getting into the area of trading demands expert assessing skills and comprehensive knowledge. You will acquire adept at all the concepts of brokerage since you continue trading. For starters, you have to select the ideal broker who will be clear with you constantly.

In this fast-paced world of stock markets and trading, you will need advice to make correct decisions. A professionally lead investment program will create hefty returns. Robinhood is one such platform that will take you and your investment to great heights. It's important to understand about Robinhood before you trust them with your money.

Our full Robinhood Review covers everything you need to learn about trading using Robinhood. A good agent can multiply your initial investments and provide you positive profits. If you would like to make profits, you should trade with a brokerage service that contrasts with your investment objectives.

There is no sure-fire method to ensure profits; therefore, you should carefully assess your broker before you choose them. It's a frequent misconception that all agents are exactly the same, but that's not true. Wrong judgment, initially, can set your investments at risk.

Robinhood is a broker which has found its way successfully to the brokerage world. In this review, we have attempted to collate some of the vital facets of Robinhood. This review will help you to know whether Robinhood is a good match for your investments or not. We've attempted to breakdown all the features and charges for your advantage.

Who are Robinhood?

Robinhood is a foreign exchange broker headquartered in USA and provides a range of tools for trading. Since its start in 2013, Robinhood has emerged as a top player in the industry of online brokerage. Robinhood has a highly aggressive and full-featured trading site that is focused on forex, indices, metals, stocks , commodities.

Over the past 8 years, Robinhood has grown into one of the leading online brokers.

After launching in 2013, their client base is becoming as large as 10,000,000+ clients.

Robinhood is the favorite for many dealers because of its negative balance protection. Our Robinhood review discovered that they're an excellent choice for automated trading solutions. They're most appropriate for investors that are searching for an assortment of assets. Social and automated trading options are the heart at Robinhood.

Technology plays a significant role in Robinhood. Robinhood offers trading on Web Trader, Tablet & Mobile apps. Robinhood is honest, transparent, and also a well-regulated broker by the Financial Conduct Authority (FCA), Financial Supervision Commission (FSC). Their outstanding variety of resources will be beneficial for the majority of traders. Third-party partnerships also provide in-house analysis.

If you feel that Robinhood is not right for you then at the bottom of this Robinhood review you wil find a lot of alternatives to Robinhood.

Everything you ought to know about trading using Robinhood

Robinhood is a lively platform that provides various techniques of online trading. These instruments cover the financial markets considerably. The Majority of the brokerage platforms offer less procedures than Robinhood

If you wish to exchange with Robinhood, you will need a minimum deposit of $0. This deposit is required if you want to begin trading using Robinhood. This 2021 Robinhood review will direct you safely about trading with them.

Robinhood is as flexible as another brokerage platform. Robinhood is excellent for traders who want a manageable array of cheap services. The programs offered by Robinhood are third party, white-label offerings. All traders can pick out of Web Trader, Tablet & Mobile apps.

Along with everything, Robinhood has multiple benefits to new and verteran traders and should be investigated. There's absolutely no minimum time over which a trade must be kept open. The brokers offer premium customer service that rewards clients with advantages.

Many unethical brokers try to pressurise customers into bigger funding for superior services. Robinhood, on the other hand, is more concentrated on trading volume. Traders can expect trading conditions to be fair, honest and transparent. The more lots traded by the user, the further benefits will come along.

Robinhood accounts are available around the world and provides quality service wherever they have customers. There are some select few countries where Robinhood accounts are not available. Traders in the following countries cannot open or use a Robinhood account:

Is Robinhood Safe To Trade With?

Established in 2006, Robinhood has been operating for 8 years, they are headquarted in USA.

Robinhood is regulated by Financial Conduct Authority (FCA), Financial Supervision Commission (FSC). These bodies have rules that ensure that trading platforms have steps in place to maintain investor's assets secured. This usually means that Robinhood users don't need to worry about their money as it is segregated and safely kept in banks that are established. SSL encryption secures every user's private information also.

You are able to make use of an option for Two Factor Authentications (2FA) with Robinhood for increased security. An SMS with the verification code will be sent to a phone. You'll be asked to input this code to log into your accounts.

Another concern with fiscal brokers with respect to safety might be manipulation of trading. This is highly disadvantageous to consumers on those platforms. Nonetheless, this is much more widespread in the case of Market Maker brokers who compete with users on the platform.

Pro's & Con's Of Trading With Robinhood

Every online trading platform will have a few ups and downs, and no Robinhood review would be complete without having a balanced approach. This Robinhood review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.

Robinhood Review - Compare Brokers Similar To Robinhood

Robinhood Review - Regulation And Licencing In More Detail

Robinhood is regulated by Financial Conduct Authority (FCA), Financial Supervision Commission (FSC).

Robinhood, as a company, has a powerful collection of rules for ensuring honest trading onto its own platform. For information encryption purposes, it supplies an industry-standard secure socket layer (SSL).

As per the company's privacy regulations, client information is never to be shared with some other institutions or individuals. Including credit history and other financial information.

Robinhood Review - Awards

At the time of writing this Robinhood review, they had not received any awards.

Robinhood Review - Minimum Deposit Required

The minimum deposit you must deposit to begin on Robinhood is $0. This is an adequate amount for those just beginning. You can make more advanced deposits as you cooperate. However, ensure you know how to make the most of your cash before investing in larger amounts.

Robinhood Review - Commission And Fees Explained

Robinhood is an online brokerage platform, and many online brokerages charge lower prices than traditional brokerages tend to bill. The reason for this is that the companies of online brokerages are scaled better. In other words, an internet broker is not necessarily influenced by the number of customers they have.

But this does not necessarily mean that online brokers don't charge any fees. They charge prices of varying rates for a variety of services to make money. There are primarily three types of fees for this purpose.

The first sort of charges to keep an eye out for are trading charges. When you make an actual trade, like purchasing a stock or an ETF, you are charged trading charges. In these instances, you're paying a spread, financing rate, or even a commission. The sorts of trading charges and the prices differ from broker to broker.

Commissions could be fixed or dependent on the traded volume. On the other hand, a spread refers to the gap between the buying and selling cost. Funding or overnight prices are those that are billed when you maintain a leveraged position for more than daily.

Aside from trading fees, online brokers also charge non-trading fees. These are determined by the activities you undertake in your account. They are charged for surgeries like depositing cash, not investing for long periods, or withdrawals.

In general, Robinhood doesn't charge high fees in comparison to other online brokers. For operations other brokers charge for, they either do not charge a broker fee, or they charge a lesser amount. This is beneficial for those who often trade, for example weekly or daily trading.

But, non-trading fees charged by Robinhood are comparatively greater. Consequently, you're billed more for non-trading activities on your trading accounts, like withdrawal and deposits. These are not related to the purchase and sale of resources.

This Robinhood review breaks down each of the applicable non-trading fees for you in detail.

Compare broker fees against Robinhood

Robinhood Review - Withdrawal Fees Explained

Withdrawal of money is possible at any moment from your Robinhood account. It's possible to withdraw up sums to the amount of your account balance, keeping aside the perimeter utilized. 1 thing to keep in mind is that you don't always need to have any money in your accounts.

In addition, the withdrawn money will be transferred directly to the account you use to make deposits. Therefore, if you used a credit card for deposits, then the withdrawn cash will be sent to the card. Robinhood will ask you to offer other withdrawal methods in case your details have changed since your deposit.

There is a minimum withdrawal amount. In case you're withdrawing money in various currencies from USD, a conversion fee is also applicable. The conversion fee will depend on the currency you're choosing to withdraw in.

Robinhood Review - Inactivity Fees Explained

Understanding whether you will be charged inactivity fees is one of the buzzing questions that run through your head while open an account with Robinhood. An inactivity fee is an amount charged to registered traders that have not participated in purchasing or selling for some time. The period considered inactive is decided by the agent.

The inactivity fee differs from 1 agent to another and isn't generalized. If a traders account does not have a purchasing or selling trade, it is claimed by the broker as an inactivity charge. The traders need to pay this commission under conditions and terms that they had agreed while registering.

Robinhood doesn't charge inactivity fees so you are free to use your account as needed

Even if no charges are implied by Robinhood, it is best for you to close the account if you're inactive. Inactivity fees are not just charged by broker firms but also many financial services.

For additional trading platforms, the inactivity fee depends on the sort of account you have selected. The inactivity fee is subjected to many conditions and should be disclosed clearly by the broker beforehand.

Robinhood Review - Deposit Fees Explained

When you move money in your trading account by the bank account, a deposit fee can be billed by the broker. Most agents do not charge too much money for this particular operation.

Robinhood doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed

Depositing money on the Robinhood trading platform is easy. You just have to complete a single-user profile questionnaire to begin depositing money into your trading account. You'll have to provide an identity proof and evidence of residency to deposit substantial amounts.

Robinhood Review - Compare Broker Deposit Methods

What Can You trade With Robinhood?

Note: Robinhood provides many different trading instruments due to regulatory restrictions in a few countries. Trading instruments offered may differ based on the country of residence of the client.

Robinhood has a wide variety of over 5000 instruments available for you to trade with.

If trading forex pairs is of interest to you then Robinhood offer over 0 currency pairs.

Compare Robinhood, Bittrex, Twine & IG below.

Alternatives To Robinhood

If, after studying this Robinhood review, Robinhood does not quite fulfill your needs check out these Robinhood alternatives.

Frequently Asked Questions about Robinhood