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Founded in 2013, Robinhood Markets Inc, informally known as Robinhood, is a US-based financial services company that is headquartered in Menlo Park, California. They offer online trading services to clients in the United States of America. Robinhood offers commission-free online trading in stocks, funds, options, and cryptocurrencies through the provided trading platform.
Robinhood Platforms & Tools
Robinhood provides clients with their proprietary Robinhood trading platform, which is currently available on iOS, Android, and most modern web browsers. Robinhood Web runs on both Mac and Windows PCs and supports most modern web browsers like Chrome, Safari, Firefox, and Edge. With the platform, advanced traders can perform more sophisticated strategies, such as iron condors, strangles, straddles, and more. The Robinhood trading platform has the following features:
- Level II market data
- Morningstar research and insights
- Check stock reports and details
- Create watchlists
- Candlestick Charts
- Technical indicators for chart analysis
- Customized alert notifications
- Multiple order types
Robinhood Research & Education
Robinhood offers professional research by partnering with Morningstar, which gives users unlimited access to in-depth market analysis and research reports on over 1,700 stocks. There is also a section of the Robinhood website that is dedicated to learning through a collection of frequently updated and informative articles covering a wide variety of investment topics for both beginner and advanced traders alike.
Robinhood Trading Accounts
The broker offers a choice of three account types to suit the different needs of investors. They include:
- Robinhood Instant: This is the default account that is available to all clients upon registration. It gives access to instant deposits for up to $1,000 and extended-hours trading.
- Robinhood Gold: This is similar to the Instant Account, but it offers some additional benefits. It has a required minimum deposit of $2,000. The Robinhood Gold Account is available for $5 per month — it gives access to research reports from Morningstar, offers Level II market data from Nasdaq, enables trading with bigger deposits, and allows quick access to funds.
- Robinhood Cash: It enables clients to place commission-free trades during the Standard and extended-hours trading sessions but does not give access to instant deposits or instant settlements.
Robinhood Account Funding
Robinhood allows account deposits and withdrawals via bank transfer only. You can link a major bank in the Robinhood iOS and Android app; this is done by simply choosing your bank from the list of provided banks or by searching manually. Once you have linked your bank account, you can deposit into your Robinhood account. While you can get instant access to your funds, withdrawals could take up to 6 business days to clear.
Robinhood Customer Service
The broker offers customer support via email and telephone during market hours (9:30 am to 4:00 pm EST). There is a FAQ section on the broker’s website that has a large collection of frequently asked questions that covers most topics.
Robinhood Financial is a member of the Financial Industry Regulatory Authority (FINRA). Robinhood International Ltd., a Robinhood subsidiary, is authorized and regulated by the Financial Conduct Authority (FCA).
Robinhood Review Summary
Robinhood offers a commission-free stock trading on easy-to-use and flexible trading platforms. They provide clients with some useful trading tools to assist with market analysis and keeping up to date with the latest economic news.
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