Robinhood is a free-trading app that lets investors trade stocks, cryptocurrency, options and exchange-traded funds without paying commissions or fees. Robinhood has recieved a lot of attention at the start of 2021 as many members of the Wallstreetbets, Reddit forum, encouraged others to buy Gamestop (GME) stock.

What are the key features of Robinhood?

Trade stocks, cryptocurrency, options, and exchange-traded funds.
Withdraw cash from ATMs for free.
No account minimums.
No transfer fees.
No foreign translation fees.
Scheduled deposits.
Dividend Reinvestment.
Instant access to deposits under $1000.
Day-Trade tracking.

Is Robinhood free?

A standard Robinhood Account is free. There is a paid Robinhood Gold subscription service from $5 per month. Stocks, options and ETFs are commission-free. Any margin over $1000 is charged 5% interest. Robinhood earns their money through Gold subscription fees and interest on cash balances in user accounts.

Is Robinhood safe to use?

Like other brokers, Robinhood is insured. There is the standard $500,000 SIPC protection per account, meaning if Robinhood implodes, you are covered up to this amount. Robinhood is regulated by the Securities and Exchange Commission (SEC), and a member of the Financial Industry Regulatory Authority (FINRA).

The ultimate question of safety is whether or not you can afford to lose any investment that you put in, because there are no guarantees that you will actually make money.

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