Robinhood has become a household name in the world of investing, thanks to its user-friendly interface, zero-commission trades, and the ability to buy fractional shares. The app has helped democratize investing, making it more accessible to everyday people. But with its rise in popularity, there have been concerns about its impact on the markets and the behavior of retail investors. In this article, we will take a closer look at Robinhood investing, its pros and cons, and the best stocks to buy on the platform.
What is Robinhood? Robinhood is a commission-free trading app that allows users to buy and sell stocks, options, and cryptocurrencies without paying any fees. The app was founded in 2013 by Vlad Tenev and Baiju Bhatt and has since grown to over 13 million users. Robinhood's mission is to provide easy access to the financial markets and to help level the playing field for retail investors.
How does Robinhood work? To start using Robinhood, users must create an account and link it to their bank account. Once the account is set up, users can start buying and selling stocks and other securities. Robinhood also offers a feature called Robinhood Gold, which allows users to trade on margin and access other premium features for a monthly fee.