• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
Dinks Finance

Dinks Finance

Personal Finance By and For Couples

  • Facebook
  • Pinterest
  • RSS
  • Twitter
  • Smart or Selfish
  • Couples Finance
  • Make Extra Money
  • Build Wealth
  • Blogroll
  • About

A Review of the Investing App Robinhood

March 6, 2017 by Jason Butler 2 Comments

A Review of the Investing App RobinhoodRobinhood was developed around just a single promise: no-fee stock trading. The app was launched in 2014 and rapidly grew to become a favorite among people who want to invest without paying $7 per trade. Since the app was launched, it has gained several thousands of users and facilitated over $1 billion in trades. The app is stylish and easy to use. It makes stock trading inexpensive, instinctive, and mobile. Robinhood is the app that wants to make stock trading easy for everyone.

Using the app

If you have a recent model of iPhone, you can choose whether to log in using a password or your fingerprint. With an Android, you can only log in using a password. You must first link your bank account to start trading with the app. You can set up a one-time transfer that would take up to 3 business days to process. The money will remain in your Robinhood account, but you cannot transfer it back.
After that, you can schedule periodic deposits into your Robinhood account.

Inside the app

Robinhood’s home screen shows you your total funds in the center and how much you’ve made that day.
If you want to trade a specific stock, you can search for it simply by clicking the magnifying glass. If you click the check mark on the right it to would be added to your “watch list.” You can read relevant news about the stock that Robinhood has pulled by scrolling down on that page. You would be taken to the Market Buy page.

When you click the buy button, Robinhood allows you to buy stock even before the market is open. The purchase will be completed immediately once the market opens. Robinhood’s background appears black the moment the market is closed.  When the market opens, it switches to a white background. Anytime that a trade is completed, the app will send a notification.

The selling interface is just like the buying one. You can decide on the number of shares you want to sell. You can see an overview of your money at the account page. Also, you can see how much cash and stocks you have and your own buying power. Buying power simply refers to the amount of money you can spend on stocks at a particular second.

One among the downsides of Robinhood is that you must wait a little for the funds you have made selling stock to be “settled” before you are able to reinvest it and purchase another stock. You will see the amount of money still waiting to clear in the Unsettled Funds category. This normally will take a few business days. If you are looking to cash out of Robinhood, it is easy to transfer the funds back to your linked account by clicking Transfer To You Bank from your account page. It also takes up to 3 business days to complete, which is actually standard for apps that hold money, such as Venmo.

I opened an account with Robinhood last month. It’s very easy to use. If you are beginning investor, I’d suggest checking it out.

Filed Under: Investments

Reader Interactions

Comments

  1. Mrs. Picky Pincher says

    March 7, 2017 at 10:25 am

    Aw, that’s a shame. I was hoping with a name like “Robinhood” it would donate surplus monthly savings to charity and the like. Oh wel, it still sounds neat!

  2. MyFiIntheSky says

    March 7, 2017 at 6:59 pm

    I love Robinhood. I was one of the first in line when the app first came out, and I’ve used it ever since. I mostly invest in low-cost ETFs using Schwab (which also allows for no-cost trades on ETFs), but I currently have about $20,000 in my Robinhood account, in a mixture of some of my favorite growth and dividend stocks. Some people might be nervous to use an app for trading, so I thought I’d share my positive experiences over the past few years.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Join Our Newsletter
  Thank you for Signing Up
Please correct the marked field(s) below.

1,true,6,Contact Email,21,false,1,First Name,21,false,1,Last Name,2

 

 

Couples Finance

  • What Dave Ramsey’s Take On marriage Is Missing
  • Tips For Newly Married Couples
  • Getting Together, Getting Hitched
  • Prenup Basics
  • Manage Your Money Together

Great Finance Blogs

  • My Stock Market Basics
  • Cafe Credit
  • Clever Dude
  • Modest Money
  • Mighty Bargain Hunter
  • Frugal Rules
  • Young Adult Money
  • Money Talks News
  • Saving Advice
  • Peer Finance 101
  >> Our *entire* blogroll

Companies Supporting The DINKS

Please consider visiting our gracious supporters:



Great Investing: Get Stock Advisor for Just $99/year

7binaryoptions.com: Your one stop information source for trading binary options.

My Dissertations  Hire an outstanding PhD editor and graduate today!

Myhomeworkdone.com provides homework help any time of the day, 24/7!

123 Term Papers works hard to deliver you a great term paper!

Get the Latest Coupon and Discount Codes at Freecouponcodes.net.

Shop and save on retro modern furniture at EMFURN. Daily deals and free shipping!

The best cheap web traffic that comes in handy for your website traffic needs.

Shop till you drop and discounted offers with Shopee promo codes.

Compare business electricity prices at utilitysavingexpert.com

cheap shopping online at DHgate.com

Footer

Get Started

  • Make Money As An Amateur Photographer
  • The Pros and Cons Of Mutual Funds
  • Building Wealth On $600 A Month
  • Yes, You can Buy An Oil Well
  • Kimball Musk’s Net Worth
  • Nine Ways To Make Extra Money

Explore

  • Home
  • About Us
  • Contact Us
  • Facebook
  • Pinterest
  • RSS
  • Twitter

COPYRIGHT © 2020 Dual Income No Kids DinksFinance.com is a District Media site.