If you’re ready to take advantage of everything Robinhood has to offer, open an account here and get started investing today. You can trade various digital currencies, such as bitcoin, dogecoin, and ether. However, Robinhood’s crypto selection is significantly more limited than that of larger exchanges like Coinbase or Kraken.

The new Legend web platform offers much-needed portfolio analysis enhancements, like dozens of metrics that traders can use to monitor and analyze assets in their watchlist, open orders, and positions. Options traders will only find that the app allows for stop, stop limit, and stop market orders, while equity traders can use market, limit, stop, stop limit, and trailing stop orders. Advanced traders will notice that conditional orders aren’t supported. That said, quotes from the Robinhood app do at least stream in real time. Thanks to Robinhood’s relationship with a number of national banks, users can transfer up to $1,000 which is instantly available for investing.

Customer support

Robinhood shook up the IRA market with its 1% match on contributions — an offer that is typically only common among employer retirement plans. However, you can contact support anytime with questions about your managed account and for support. Take advantage of market moves with a mix of stocks and ETFs. MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

• You can receive up to $1,500 in stocks per year through this program.
• Once that’s received, you’ll know within five to seven days if you’ve been approved for an account.
• The more trades that you place on the app, the more money that Robinhood makes, which, intentionally or not, does mold the interface and design of the app.

Not everyone will qualify for Instant Deposits, especially upon opening a new account. If you don’t qualify, you’ll need to wait until your ACH transfer completes to begin making trades. While Robinhood doesn’t provide a direct phone number to contact, support is available through email at You can what is the forex trading secrets and tips of success also use the app or website to chat or request a phone call.

Credit Cards

Even for public companies, it can be a challenge to estimate market value (i.e. what another buyer would actually pay for it). While market cap is one way to estimate, there are many other methods used. Some include pretty intense accounting, taking into consideration a company’s debts, growth prospects, taxes, and more. These estimates sometimes incorporate more fuzzy analysis, too — for instance, a company’s ability to innovate and broader trends in the relevant industry. Some approaches are more formula driven and use mathematical equations to estimate value.

Compare to Similar Brokers

Robinhood spending accounts also come with some unusual features, such as an opt-in program that lets users get their direct deposit paychecks up to two days early. Users can also opt to have their debit card transactions rounded up to the next dollar, with the extra change invested in stocks or funds. This round-up feature is similar to the round-up investing tactics made famous by robo-advisors Acorns and Stash.

Financial Position

• Our highest-rated brokerages generally include low fees, a diverse range of assets and account types, and useful platform features.
• You probably won’t notice them, but it’s helpful to know they exist.
• The standalone app allows users to trade and swap crypto with no fees.
• To withdraw the money, you’ll need to disable your margin investing status in settings.

Robinhood Gold members are provided with unlimited access to Morningstar’s premium, in-depth stock research reports. These reports are available on about 1,700 stocks and are updated frequently to reflect important company events. As a Robinhood Gold member, you will have access to Nasdaq Level 2 market data powered by Nasdaq TotalView.

The platform is designed primarily for active trading, including day trading. It’s one of the top brokers for options trading since there is no per-contract fee, as is common with most brokers.The app also appears to encourage margin trading. This is not a practice recommended for types of enterprise management systems new and small investors, since it magnifies the potential for investment losses. Robinhood offers over 10,000 US-listed stocks and ETFs with no commission through the brokerage’s 24-hour market, which is open from Sunday 8 p.m. After answering a few questions on the mobile app, Robinhood provides first-trade recommendations based on your preferences (not available in Massachusetts). Providing readers with unbiased, comprehensive reviews of online brokers and trading platforms is a top priority for Investopedia.

For instance, no chart drawing tools are available on mobile, and trades can’t be executed directly from charts. Order staging and simultaneous order entry options are also not available. Robinhood’s platform has received focus in other areas, as well.

Robinhood passes those charges to minders and validators, without collecting a portion for itself. If you have more than one type of account with Robinhood—such as a taxable brokerage account and an IRA, as well as an options trading account—you’ll want to choose your options account before placing the trade. Robinhood also lacks many of the educational resources offered by the best online brokers for beginners. As of April 2025 Robinhood has a market cap of $36.46 Billion USD.

While this allows Robinhood to offer commission-free trading, it raises potential concerns for investors. M1 is more focused on overall portfolio management and even offers model portfolios that don’t have any additional fees (outside of the ETF fees, which is standard). M1 also offers a high-yield savings account, as opposed to just offering interest on cash balances in your investing account like Robinhood does. Both of these factors tilt my opinion in favor of M1 slightly over Robinhood.

Here are my thoughts on how Robinhood compares to some of its most noteworthy competitors. Larger deposits may take up to five business days to process and become available. You can transfer up to $50,000 into your account, and you can only transfer money via direct deposits.

In my opinion, the occasional sub-optimal execution price is a fair tradeoff for free trades, as the discrepancy is often minuscule and unlikely to materially affect your returns. The more important issue to me, however, is the incentive that the PFOF revenue model creates for Robinhood. The more trades that you place on the app, the more money that Robinhood makes, which, intentionally or not, does mold the interface and design of the app. If you’re about to download an investing app and you are doing your research correctly, you probably came across several other apps that are competing fx choice review for your business.