Robinhood quick review

Previously, I have discussed the Robinhood in my blog titled, Commission free stock trading.  Robinhood is a U.S. based financial services company that allows individuals to invest in publicly traded companies and exchange-traded funds listed on U.S. stock exchanges without paying commission.  Since my blog on 03/18/18, Robinhood has launched a web version geared towards helping investors make more informed financial decisions.  As mentioned on their FAQ page for their Robinhood web version, their site includes new features not available in their APP version.  A few features include collections, price paid, people also bought, analyst ratings, earnings, and news and fundamentals.  Each of these features are further described on their FAQ page.

Robinhood screenshot

I use both the Robinhood APP and web version interchangeably.  For example, the APP is more convenient for when I am on the road and I want to quickly check my stock portfolio.  It also allows for easy trading even if I am not near my computer.  The web version is nice to have when I am working on my computer and I can keep the window open to check periodically on my stocks.  The web version also allows you to download financial statement documents.  I do not have any affiliation with Robinhood and they are not providing any payment for my kind words.  I am driven to speak on the topic of trading with Robinhood because they are providing a service for free.  They do have their Robinhood Gold feature, which is something you would pay for and is where they are probably making their money.  This feature is further explained on their FAQ page for Robinhood Gold.  It sounds like the major benefit of belonging to Robinhood Gold is to have more buying power, which you can read about on their FAQ page if you wish.

My website is focused on sharing out tips to help others become successful.  The hope is to one day bring together a community of people interested in the same topic [success] and accelerate the rate at which we achieve success.  As mentioned before, the key strategy at Civil Accomplishment is as follows:

  • Gather information/data to better prepare ourselves for the future
  • Understand our goals and build a plan to reach them in a timely manner
  • Learn from our mistakes
  • Celebrate our successes

The other factors we need to keep in mind are decision making, accountability, and speed.  These three parts are crucial to pushing the Civil Accomplishment strategy forward.  So where does this tie into Robinhood?  As we look to achieve financial stability, it is important to find proper tools to make it easier.  If we use some trading services such as E*TRADER, we are going to pay commissions on each trade.  It is difficult enough to make good trades and not lose money, so paying $6 or $7 per trade is certainly not helping us.  Robinhood allows us to trade without these fees, which is simply amazing.  For beginner traders like myself, Robinhood gives me more incentive to start trading at a lower risk because they are not immediately taking $6 or $7 to just trade.  If there is a different perspective, I’d love to hear it.  As I said, I am a novice trader looking to grow my portfolio and eventually achieve financial stability.

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