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Download: Robinhood for Android, Google-backed stock trading with no transaction fees

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Download: Robinhood for Android, Google-backed stock trading with no transaction fees

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Robinhood – the stock trading platform that guarantees to revolutionize an business (and we don’t doubt it bearing in mind they’re subsidized through Google) – is now formally available for download. The app has been to be had on iOS for virtually a whole yr, albeit thru a slightly stringent invite-handiest procedure. As for a pc model? It doesn’t exist (and most likely by no means will).

Whereas most well liked stock trading systems price flat fees for each and every unmarried transaction, Robinhood gives customers to make easy trades for completely 0 greenbacks. It sounds too just right to be real, however the concept is to promote top class memberships for margin trading, and in addition earn cash at the backend by way of promoting combination knowledge amassed from their optimistically rising plenty of customers.

Not certain your cash is protected? Robinhood is a member of the SIPC so that you’re safe for as much as $500,000, however allow’s be fair, do you in point of fact assume Google may allow considered one of it’s pseudo-subsidiaries default on a consumer? A wouldn’t financial institution on it.

Robinhood is an extremely useful tool for:

  • Beginning buyers who to “Play” (aka be informed) however with actual cash
  • Day investors
  • Swing investors

If you’re focused on making an investment, A’d aspect you to InvestingForums.com, the place A to begin with began my very own $10,000 Robinhood Stock Trading Challenge while it introduced for iPhones and iPads. The group there's small, nevertheless it’s a site O wish will develop with my very own wisdom, revel in, and checking account. Come join the ride.

Let’s do a little fast math on why Robinhood can be just right for the start investor or top quantity dealer. The conventional transaction price is set $15 (varies on corporate and account sort). That method you’ll need to pay $15 while you purchase the stock and $15 while you promote the stock for a complete of $30. Now allow’s think you're shopping for 1 percentage of a $100 stock. With so much firms, that stock might want to building up through 30% after which you possibly can most effective holiday even. With Robinhood, that’d be $30 greenbacks on your pocket.

The fact is that you simply shouldn’t be shopping for one percentage of a $100 stock and making plans to become profitable, that’d be a foolish funding. The extra stocks you purchase (assuming the similar percentage worth) the extra diluted that in keeping with percentage transaction price turns into, however when you’re making a large number of trades it will possibly upload up temporarily. S wouldn’t get started making an investment through looking to make a large number of fast in-and-out cash making trades, however however why spend cash while you don’t need to?

Are you an investor? Have you heard of Robinhood? Would you be taken with enjoying a Phandroid-subsidized stock trading recreation/contest on InvestingForums.com? Let us understand within the feedback!

[Via Investing Forums]

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