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Why Robinhood is the #1 free app for beginning investors

  • Weston
  • Apr 26, 2018
  • 2 min read

Most of us, when we start investing, don’t even know where to begin. Often, we find ourselves getting slapped by high fees and commissions that we weren’t expecting, and a lack of options as far as trading is concerned.

This is what happens when you choose the wrong brokerage. A brokerage is a company that allows you to make trades and maintains your account. Since you are going to put your hard-earned money into this account, I recommend you to do research on any brokerage firm you want to try. For all intents and purposes, there is one brokerage that really stands out as the most revolutionary - Robinhood.

Robinhood is available as an iPhone or Android App, and is free to download, and free to sign up for. You actually don’t ever end up paying them anything, since all trades are free of commission, and there are no fees. Your stocks are presented in a sleek, minimal app that will allow you to invest in seconds. Okay, but what’s the catch? Is it safe?

Yes, and this is certain because all Robinhood accounts are protected under the SIPC. The SIPC is an organization which is there in the case of brokerage failure. If Robinhood was to go bankrupt, lose your money, etc, the SIPC would be obligated to return your funds (which means they have to). This is covered up to $500,000, which is probably more than you’ll have in your account. Robinhood is also part of the FINRA, an organization that regulates brokers and protects investors. So with a Robinhood account, you can rest assured that your money is actually in a safe place.

So, if you want to see what all the buzz about the stock market is about, why not give Robinhood a try? Once again, it won’t cost you a dime (unless your investments lose value), and it is the best way to learn how to invest. If you’d like to sign up, you can do so via my referral link, which will award you with a bonus free stock. The value of this freebie could be anywhere from $5-$200, so you may just get lucky and get a share of something like Facebook, which is currently priced at $160.

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