Róbinhood® Login - Log In Account 🦄

What Is Robinhood?

Robinhood is an app-based investing platform (it also has banking options) that is commission-free. It is a tech-based start-up that has been focused on changing the investment game.

And, honestly, it's been working. Robinhood made a name for itself by offering $0 commissions on stock, ETF, and options trading. When it first was launched, this was unheard of. However, today, almost every major stock broker offer $0 commissions and no fees.

So, how do they compare today? Honestly, most users will likely be better served elsewhere. But if you're interested in Robinhood, here's what you need to know.

Robinhood offers the following main options:

Notably, Robinhood does not support mutual fund trades. You also can't buy bonds or other fixed-income securities on Robinhood's platform.

‍

How To Use The Robinhood App

Now that you have your account funded, you can start using the Robinhood App to look up and trade stocks.

They have some very elegant ways to look up stock information. Here's what I started with, looking up Abbott Labs (ABT). Once you look up the stock symbol, it gives you a quote, basic chart, and other basic information about the stock.

This is all trading information - they don't have any fundamental information about the company:

Robinhood Review: Index Fund Page

Before you can make a trade, Robinhood does have this cool feature that lets you look at "Popular Stocks" based on what others are doing on their app.

While I don't like to base my investment decision on what others are doing, a little voyeurism is always fun:

Robinhood Review: Popular Stocks

When I went to make my first trade, I thought I'd keep it simple and just invest in SPY. So, I typed in the symbol for SPY and got a quote.

I then clicked the big Buy button on the screen and it brought me to the order screen. It's very intuitive and easy to use to place an order. You simply type in the shares you want to buy and the price. If you don't want a market order, you can tap the "Market" and switch it to a limit order.

After that, you review your order. Then, you just swipe up to submit. Personally, I hate having to swipe to access features on a phone. Just let me push a button.

Robinhood Buy Screen

Robinhood Stock Screeners

Robinhood recently introduced a stock screening tool to their platform. Stock screeners allow you to use filters to narrow your search for new investments.

Robinhood has pre-set screeners you can use, or you can create your own custom screeners. There are over 20 filters in total, including 52-week high/low, price change, volume, implied volatility, market cap, sector, analyst ratings, and dividend yield. There's no limit to the number of filters you can use in your research.

Robinhood Crypto

Robinhood is one of the few companies to offer commission-free crypto trading. However, it currently only supports seven coins:

That's one of the smallest lists of supported currencies that you'll find which is the primary reason that Robinhood has yet to make it on to our list of best crypto exchanges. It's also important to understand that even though Robinhood doesn't charge a direct fee for crypto trades, you're still being charged indirectly through the spread.

Robinhood Gold

Robinhood Gold is their premium product. You can get access to gold starting at $5 per month.

Robinhood Gold gives you:

Robinhood Cash

After stumbling to launch their cash account, Robinhood now offers a cash management account with a solid APY that's competitive to the top high yield savings accounts out there.

The account currently pays you 1.50% APY. Like all variable rates, this could go up or down over time. However, if you're Robinhood Gold, you can earn 4.65% APY on your deposits.

The account has no minimum requirements, no monthly fee, no overdraft fee, and comes with a Mastercard debit card to easily access your money at their huge network (75,000+) of fee-free ATMs.

The only drawbacks with this account are that they don't reimburse other ATM fees. And you do have to use their app. However, if you're good with those conditions, enjoy a great cash management product.

Side Note: While 4.65% APY seems good, because of the $5/mo fee, you would need to have $1,300 in your account to break even...

How They Make Money

I'm always leery when I see a company offering something for nothing. This company isn't a non-profit. It's venture backed and will be looking to go public and make people rich. But, in order to do so, they need to make money, so how do they do it? They break it down here.

They have two models. First, they sell your stock trade information to third-party companies (this is called payment for order flow). This is a big revenue generator for them, but it does have the potential to cost individual investors money on trades. You can read more about it in this article.

Second, they have their Robinhood Gold account, which you do pay a subscription for to have access to things like margin trading.

For the long term investor, these don't really matter. Paying $0.01 more (potentially) per share shouldn't impact a long-term buy and hold investor. However, if you're a trader (which Robinhood's platform is geared towards), this could be costly.

Robinhood IRA: Earn a 1% Match

Robinhood Retirement

Robinhood opened its waitlist for the company's first retirement product, Robinhood Retirement. It's the first and only IRA with a 1% match for every contribution dollar. It allows access to stocks and ETFs with zero commissions or account minimums (other fees may apply).

The best part? No employer necessary. According to Pew Research, 40% of America's total workforce is made up of gig workers, who don't have access to employer matched funds.

Robinhood is providing a path to retirement savings for people who don’t have access to traditional retirement accounts or corporate matching programs.

Here's how Robinhood Retirement works:

Note, there is a "catch" to the 1% match. You must make IRA contributions from a linked external bank account only. Contributions from your Robinhood brokerage or spending accounts don’t earn the IRA Match.

You must also keep the funds that earned the match in the account for at least 5 years to avoid a clawback fee of the match.

Robinhood Bonus And Promotional Offers

Robinhood is known for their sign-up bonus: you can get a free share of stock when you sign up. The value of the share could technically be anywhere between $5 and $200, but Robinhood says that there's a 98% chance that it will be between $2.50 and $10.

How Does Robinhood Compare?

Remember, when Robinhood launched, they changed the game of investing by offer $0 commissions on trades. That was revolutionary at the time.

However, today, they aren't doing anything better than anyone else - and in may ways, they are starting to lag behind the competition.

‍

How Do I Contact Robinhood?

This is another area where Robinhood falls short. Under mounting pressure, Robinhood has finally unveiled 24/7 phone and chat support - but you still need to access it via the app. You can learn more about phone support here.

It's "Support" page is simply a collection of FAQs. And its "Contact" page only contains one sentence: "Sign in so we can provide better and more personalized support."

Robinhood Review: Customer Service

Is It Safe And Secure?

Robinhood does take strong security measures such as using Transport Layer Security (TLS) protocol to protect data and offering safer login options including TouchID, FaceID, custom PIN code, and two-factor authentication.

Still, some of Robinhood's data servers were hacked in October 2020. Nearly 2,000 accounts were compromised during the breach and Robinhood has already been sued by at least one affected customer.

When it comes to financial protection, all brokerage accounts receive up to $500,000 of SIPC protection. And cash accounts get up to $1.25 million of FDIC protection through Robinhood's partner banks.

Robinhood Pros And Cons

Pros:

Cons:

Final Thoughts

If you're looking to get started investing in stocks and ETFs inside a taxable account with a small amount of cash, then Robinhood should be a broker you check out. Just know that you won't be able to invest in mutual funds or open an IRA. And don't expect fast and attentive customer service.

If you need something a little more robust, I'd honestly recommend opening an IRA or brokerage account at a mainstream brokerage like TD Ameritrade or Fidelity. With every platform being commission-free now, why not get full service for the same price? Check out our list of the best brokerages and learn more.

But don't just take my word for it with this review. You can try Robinhood for free right here: Signup for Robinhood

Robinhood FAQs

These are a few of the most common questions we receive about Robinhood:

Is there a catch with Robinhood?

While it might not be technically considered a "catch," one of the primary ways that Robinhood makes money is through "payment for order flow" which many contend is a conflict of interest.

How do I get my money out of Robinhood?

Clients can withdraw up to $50,000 of cash from their accounts per day. However, it's important to note that Robinhood doesn't currently allow withdrawals of cryptocurrency that has been purchased on its platform.

Does Robinhood support Dogecoin?

Yes, Robinhood clients can buy or sell Dogecoin commission-free and at any day or time.

Does Robinhood charge a per-contract fee on options trades?

No, Robinhood is one of the few brokers that has eliminated the per-contract fee on options in addition to charging no commissions.

Does Robinhood have any bonus offers or incentives?

Yes, you'll receive one share of free stock when you open a new account with Robinhood. The value of the share could technically be anywhere between $5 and $200, but Robinhood says that there's a 98% chance that it will be between $2.50 and $10.

Robinhood Features

Account Types

Taxable

Tradable Assets

Account Minimum

$0

Stock Commissions

$0

ETF Commissions

$0

No-Transaction-Fee (NTF) Mutual Funds

N/A

Options Costs

Account Fee

Margin Rates

7.75% to 11.75%

Wealth Management

No

Robinhood Retirement

Earn 1% match for every dollar you contribute

Get on the waiting list.

Banking Services

Yes

APY On Cash Deposits

Up to 4.65% APY

Customer Service Number

Via the App

Customer Service Email

None listed

Web Platform

Yes

Mobile App Availability

iOS and Android

Promotions

Free stock for opening an account

Robinhood Review
Overall

3.9

Summary

Robinhood is a commission-free brokerage that is app-based, where you can trade stocks, options, and even cryptocurrency. They recently announced an IRA, which matches 1% match for every dollar and access to stocks, ETFs, and zero commissions or account minimums.

PROS

CONS

‍