A Musicians Review: Robinhood App
I am not an investor, I do not know anything about investing. But I know a sure thing when I see it. Using Robinhood has allowed me to bet on sure things. Maybe about a month ago, I received an Snap from a friend who asked me if I had heard of Robinhood. The pitch was simple, he basically told me Robinhood allows a regular person with a smartphone to buy & sell trades on the stock market for free. No hidden fees, No bullshit. So I downloaded it and got 1 Free Stock of Ford, (when you sign up from someones link you get a free stock), then I went on to purchase some Snap Inc stock. Yes I am betting on Snapchat, and I wish I could've bought more. They are the next big thing and they are selling at 14.35 a share. That to me is just dumb, that company will be worth at least 10x that amount in a year or so. I have since then made other purchases from other companies some winners, some losers. The entire process takes a few minutes to setup, as a user I can only buy or sell at market price, make limit orders, stop loss orders and stop limit orders. I can invest as little as I like, thanks to no minimum and like I said a month ago I had no idea how all this worked. I learned fast using the Robinhood App.
I think the big thing here to realize is that 3 years ago or even 10 years ago you couldn't purchase stock for free without paying a trade fee which is usually $8-$10 a trade. That and a minimum purchase amount. Now I can drop a quick $5 into this app and by a share of Blue Apron, Zynga etc.. Take a look at this breakdown.
Some people around the web think, Robinhood App is a scam or a shady company with bad intentions. To them I say your a bunch of idiots who do not know anything about this new generation and how it thinks about money.
Robinhood isn’t the first brokerage to tout the $0 trade, but it appears to be the first that understands the Millennial mindset. The app may have trouble winning over experienced investors who may be turned off by its stripped down features. However, it could see widespread adoption once funding and platform availability increases. In the meantime, Robinhood will continue to play an important role in the movement toward democratizing markets and making investing more accessible to everyday people.
I definitely see the upside to this app and will continue to use it. If you do decide to download and start your account use my Share Link so you can get a free stock at the time of sign up. This way we both win.