Robinhood app: invest in the stock market for free.
In this day and age, when breathing seems to be the only thing that we can do for free — it’s refreshing to know that a few good men still believe in free trading — and that by free, they still mean free in the real sense or the word.
With technology, investing has never been so easy — but it wasn’t always without a price.
Brokerages often charge at least $7.99 for purchasing a stock, and a price of the same for unloading one.
Users who hope to purchase stocks from Facebook, Apple, Google, or any industry giant, must first hand a small portion of their fortune to brokerages to get what they desire.
One app, however, has decided to change it all.
Robinhood is an app that allows users to trade for free. And by the word ‘free’ — it really means for free and without charge.
Users of the Robinhood app can freely purchase and sell their stocks without having to shed a fortune.
Freely — because users are not required to keep a minimum balance to maintain an account with the app.
The app does not discriminate against its users. Users can either have all the money to buy all the shares in the world —- or they can have just enough to buy one share and they still get to use the app free of charge. It makes no difference.
Speaking to CNN, Robinhood co-founder Vlad Tenev says:
“You just have to have enough money to buy one share.”
As access to the stock market becomes lesser and lesser difficult each year, many emerging apps try to take advantage of users’ desire to make use of the convenience that mobile trading brings about — by charging them with fees here and there.
Robinhood app’s tempting offer, however, seems to have successfully lured more users into trading with them — because as of date, the app has been used by over a million people to both purchase and sell stocks.
In the same interview with CNN, Tenev added:
“We believe that everyone should have access to the financial markets.”