The Truth Behind Robinhood and Its Forex Trading Features

Robinhood started with a simple idea: make America’s financial system work for the people. Their goal is to give every American access to the markets and education that they need to be successful investors. They recently announced their new service called “Robinhood Crypto” which will allow you to buy and sell Bitcoin and Ethereum in-app. But what does this mean for your investments and how do you know if Robinhood is right for you? Here are some things you should keep in mind before investing on Robinhood:.

WHAT IS ROBINHOOD?

Robinhood is a trading platform, which lets you buy and sell stocks online. They also offer real-time market data, charts, news, and research to their investors. Their mission is to make America’s financial system work for the people. Robinhood has been around since 2013 and recently announced their new service “Robinhood Crypto” which will allow you to buy and sell Bitcoin and Ethereum in-app.

WHAT ARE THE FEES ON ROBINHOOD?

Robinhood only charges $0 to buy and sell stocks, ETFs, options, and penny stocks. Any other fees are incurred with the third-party service providers like financial institutions, transfer agents, and regulatory agencies.

HOW DOES ROBINHOOD CRYPTO WORK?

Robinhood Crypto is a new feature where you can buy and sell Bitcoin and Ethereum in-app. Previously, if you wanted to invest in cryptocurrencies, you had to set up an account with Coinbase or another cryptocurrency exchange to purchase digital assets. With Robinhood Crypto, the process is simpler because you’re using the app that many people already use to trade stocks.

The other plus is that Robinhood offers zero-fee trading of these coins. You won’t need to worry about paying high commissions like at other exchanges, which means more profit for your investments.

PLATFORM EASE OF USE

One of the most important features of a trading app is how user-friendly it is. After all, if you’re not able to easily navigate and find your way around without any complications, then why would you want to use that platform?

Robinhood has made leaps and bounds in this area. They have a very user-friendly interface that allows you to invest in many different stocks with just a few taps on your screen. Robinhood also has a mobile app for those who want to trade on the go! And because Robinhood is primarily an investment platform, you can be sure that they will continue to update their platforms as needed which means that mobile-friendly features will only get better as time goes on.

INVESTMENT OPTIONS

Robinhood offers you the ability to invest in stocks, ETFs, options, and even cryptocurrencies. But what are these investments?

Stocks are when you invest money into a company in order to buy shares of its stock. Your goal is to buy low and sell high while hoping the price of the stock goes up or stays at a constant rate.

ETFs are investment funds that can be traded on the market like stocks. They also have similar risks to stocks but provide diversification.

Options are when you trade on something with an uncertain outcome for either a higher or lower price. This is risky because if the price of your option drops below your buying price, then you lose all your money invested in that option. Options are only good if the price goes up over time.

Cryptocurrencies are digital currencies that exist electronically outside of banks and governments. These decentralized currencies have no physical form but can be used just like any other type of currency for trading services or goods online. As long as both parties agree on the value, they can exchange these coins anywhere in the world without having to worry about exchanging them back again.

SUPPORTED CURRENCIES

Robinhood currently supports Bitcoin and Ethereum. They are looking into adding more cryptocurrencies at the moment, but they have not yet announced which ones.

IS ROBINHOOD RIGHT FOR ME?

Robinhood is a trading app with a desktop and mobile app which makes it easy to invest in stocks, ETFs, options, and cryptocurrencies. Robinhood is not a broker-dealer or a registered investment advisor, but they offer commission-free trades on U.S. stocks and ETFs for both individual and joint accounts.

Robinhood Crypto is the newest addition to their services which will allow you to buy and sell Bitcoin and Ethereum in-app, but they do charge a small fee of 10 cents per transaction plus 3% of the transaction value. If you want to make any cryptocurrency transactions without paying fees, your best option is Gemini.

Robinhood’s mobile apps are available on iOS and Android devices for free with various features such as instant deposits from PayPal or bank account transfers for no fee, track your portfolio performance with charts, watchlist, real-time market data for multiple time frames so you can respond easily to changing market conditions. Robinhood also offers free access to market news alerts about companies traded on U.S. exchanges by Quandl so you can stay up-to-date with all information at your fingertips..

If you want to avoid investing in cryptocurrency but still want the ability to trade stocks commission-free then Robinhood is right for you!

PROS AND CONS OF INVESTING ON ROBINHOOD

There are many benefits of investing through Robinhood.

Pros:

– This platform is easy to use and understand, making it perfect for beginners.

– They offer commission-free trades which means that you don’t have to pay any fees when you buy or sell stocks, ETFs, options, or cryptocurrency.

– There are no trade minimums which means you can invest as little as $0.001 in stocks and ETFs (although there is a maximum of $10,000).

Cons:

– You can’t invest in mutual funds or bonds with this app. You would need to open accounts with other institutions in order to do so.

– The app differs based on location; some features are not available in all states. For example, you could only invest in crypto if the service is activated and regulated for your state (only California and Massachusetts at the time of writing).

Robinhood is a mobile and web-based platform that allows you to trade stocks and exchange-traded funds (ETFs) with zero commissions and no account minimums.

Robinhood Crypto is a new product that makes it easy for you to trade Bitcoin and Ethereum (and soon, other cryptocurrencies) on the brokerage platform.

Depending on your needs, Robinhood may be a suitable broker for you.

However, it may not be the best choice for those who want to invest in other assets such as mutual funds or stocks that trade on an international stock exchange.

If you are considering using Robinhood either for stocks, crypto, or both, please review this article for more information.