Robinhood Logo
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43 User Reviews
LAST UPDATED: November 18th, 2021
Robinhood opened its doors to investors in 2014, making it a fairly new brokerage firm. The company was started by two Stanford graduates, Vladimir Tenev, and Baiju Bhatt, who began their careers building trading platforms for large financial institutions. This experience led them to a major realization that brokerage firms pay little to nothing to place trades for their investors but still charge up to $10 as commission fees. Thus, Robinhood was created to shake up the industry and democratize access to financial markets. Today, Robinhood offers its traders U.S. securities and charges no commission fees. It mainly caters to millennial investors looking to dip their feet into the market without having to pay high commission fees to their brokerage firms. The company's mission is to empower this new generation of investors and shrink the gap between the "haves" and "have-nots."

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The Good

  • Pricing and fees
  • Mobile capabilities
  • Scheduling feature
Those that decide to use Robinhood for their trading and investing needs can expect a number of quality services and features upon getting started. Prospective clients who use Robinhood will be able to take advantage of the following items:

Pricing and Fees

Robinhood charges $0 commission fees for its securities. In an industry known for charging up to $10 for securities and requiring $500 to $2,000 account minimums, Robinhood's pricing structure is fairly shocking. The firm's creators believe that there are millions of investors out there who use brokerage firms, place more than 10 trades per month, and yet end up paying thousands in fees each year. Unlike these firms, Robinhood doesn't charge steep fees for placing trades, doesn't have a mandatory account minimum to start a trading account, and doesn't have the same operational costs as other big name brokerage firms. So, they can afford to keep costs low and increase their clients' savings. Existing brokerage firms claim their services, like research and educational tools, are worth the fees they charge their clients. Robinhood disagrees. It believes that millennial investors-its target audience-don't care for paying money for services they may not use or may find inadequate. Instead, young investors tend to look elsewhere for free resources that'll help them make informed decisions.

Mobile Capabilities

The firm's trading platform is a mobile app available on android and iOS smartphones and tablets. On the platform, users have access to any of the 5,000+ stocks and ETFs listed on the US stock exchange, meaning the firm doesn't put a limit on the number of stocks users can access at the $0 commission rate. The app's sign up process is fairly straightforward and takes a little time to complete. Users have hailed the app for being easy to use and easy to link their bank accounts to. The app doesn't require a routing number nor does it take days to verify users' bank information. Instead, it uses micro-deposits to validate users' accounts.

Scheduling Feature

In addition to its commission-free stocks and ETFs, Robinhood offers scheduled deposits. This is a new feature where users can automatically schedule transfers on a weekly, biweekly, monthly, or quarterly basis. Another one of its new features is its advanced order support tool. Investors can use this feature to enter specific orders as good for the day or good until canceled (GTC). All of these aforementioned perks make Robinhood ideal for investors, especially millennial investors.
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The Bad

  • Limited trading tools
  • Looking ahead
The Robinhood service, while convenient and accessible, also comes with a number of limitations. Prospective users should consider the following drawbacks before creating an account and getting started on the platform:

Limited Trading Tools

The firm only offers a mobile app trading platform. While great for millennial investors who are always on their smartphones or tablets, this means the brokerage firm doesn't offer advanced trading tools. Usually, only desktop platforms have these advanced features like charting mechanisms and volatility indicators. Without these tools, the firm lacks critical features to help better inform its investors. Speaking of informing users, the firm also doesn't offer additional resources like education materials or research tools. While its creators believe that millennial investors tend to not use these features, we're pretty sure that investors would enjoy the added benefit of having their educational and research resources under one roof since it will save them time and energy from looking elsewhere.

Looking Ahead

Robinhood doesn't charge its investors any hidden fees, so for now, its users can rest easy knowing they're truly executing commission free trades. However, in the future, Robinhood may need to change its pricing structure to make money and keep its doors open. Eventually, the firm will charge for premium services if their traders decide to use them. The firm will also begin offering margin trading, which will allow its users to borrow money from the brokerage firm to cover a certain percentage of the securities' costs. The firm will then make money off of the interest rates they'll charge on the loans. Potential clients looking to join Robinhood should be aware of these impending fees. Furthermore, the company only offers stock and ETFs trades. Investors currently cannot trade options, bonds, mutual funds, and other securities. For investors who are interested in investing in a variety of securities to diversify their portfolios and mitigate financial risks, this detail is fairly disappointing. Additionally, the firm doesn't offer ACAT transfers, which means traders cannot transfer their existing brokerage assets into Robinhood. Another major downside to the firm is the fact that it's not the first brokerage firm to try out commission free trades. Zecco was a brokerage firm that implemented this model and had to frequently change its pricing structure because of how difficult it was for the company to stay afloat. Eventually, Zecco gave up, determined the model wasn't successful and instead, merged with TradeKing. This story could dissuade users from joining Robinhood since the firm's business model could be unfeasible in the long run.
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The Bottom Line

Robinhood is a great brokerage firm with the commendable goal of democratizing access to financial markets. It's especially ideal for novice and millennial investors looking to dip their feet into the industry without paying high commission rates. The brokerage firm offers thousands of individual stocks and ETFs to invest in, all at the touch of a button. Its mobile app is easy to use and boasts a quick and simple application process. However, the brokerage firm doesn't offer a variety of investment choices so individuals looking to trade the likes of options and bonds will have to look elsewhere. Furthermore, traders currently with another brokerage firm won't be able to transfer their existing account to Robinhood. This detail severely undermines the firm's ability to steal clients away from the big name firms. At the end of the day, our main concern is whether the firm's commission free rates are feasible in the long run, especially since similar firms have had to close their doors. Only time will tell whether Robinhood's business model is, in fact, sustainable.
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Star Rating

4.3

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43 Reviews

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51%

4 grade

35%

3 grade

7%

2 grade

5%

1 grade

2%

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Luke Swierczynski Troy, MI

They were great before the whole meme stock area. They really destroyed a lot of traders financials with broad company decisions. Aside from that they are nice if you're not managing a large portfolio and more so toss a few dollars at it every once in a while.

4 weeks ago

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Jec Canby, OR

This seems to be a company for the younger generation. My son uses Robinhood and has been very happy with them. I see a lot of Robinhood come across my desk at work (tax) as well.

1 week ago

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Karen Torino Tallahassee, FL

Robinhood has been experiencing a lot of security issues lately, per their emails. They seem to lack some important stocks, but overall its not bad for stocks. My favorite feature is the ability to program when to buy or sell a stock based on it reaching a certain price.

2 weeks ago

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Rocio Diaz Tallahassee, FL

Robinhood is amazing and I like how it is a free service (up to a certain point). You can participate in cryptocurrency and also buy smaller shares of stocks.

2 weeks ago

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Aiyana Brown FL

robinhood makes investing easy! everyone i know who uses it has seen success in their investments both short and long term, so it definitely worth it.

3 weeks ago

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Matt Clark Provo, UT

I haven’t had any problems with Robinhood. They give you mostly free reign to invest how you want.

1 week ago

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David Stickles West Jordan, UT

In general I really like this platform. Very easy to get into investing with very little money commitment. You get to go in with as little or as much as you’d like. Some issues with trades being blocked but that was a very niche situation. Overall a very cool concept.

2 months ago

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Jesse Breffle Denver, CO

Robinhood is a great way to start trading. It has a simple user interface and even has a handful of articles to help you start learning the ins and outs of trading. Granted one should always remember not to invest what they can't afford to lose. But to get started and have some fun playing around or if you are a serious trader Robinhood can satisfy both ends of the spectrum.

6 months ago

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Anne Sainsbury Orem, UT

I just barely started using Robinhood and I love it. I am new to investments so this has been a stretch for me, but I have enjoyed my experience thus far. I love how easy it is to pull money from my bank into the app so that I can make quick investments. I also really love how I can quickly see how each of my investments is doing on a daily, weekly, monthly, 3 month, yearly, and 5 year scale.

5 months ago

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The Bean Spiller Provo, UT

This is a pretty good way to get into stock trading, but it should not be your be-all, end-all method of trading. They are pretty limiting with your stocks in terms of buying and selling, so if you're serious about trading, go with someone else. But like I said, if you're new to trading and interested in starting, Robinhood is a safe choice

2 months ago

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Abril Hunter Tallahassee, FL

I really enjoy the idea of the Robin Hood app however in my experience with its use I’ve had many difficulties. I still haven’t gotten to using all of the aspects of the application because it’s so hard to get a bank statement to upload as one of the first steps. Bank statements are no longer paper for many people so it makes it difficult to continue using the app. however I do really appreciate the work that Robin Hood does when it comes to investing mobile and easily.

2 months ago

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Santow Shamon Gurnee, IL

Robin Hood makes trading stocks very easy. You don't need to be an expert to get started. The start up process is pretty easy and you are investing in stocks in just a few minutes. The app itself is pretty easy to navigate through. There's even information on stocks including trading history and it's highs and lows and average return rates. Create your custom portfolio of your invested stocks or a list of stocks to watch. Their always-ready customer service bots may not seem ideal but they have always answered every question I have without ever needing to speak to an actual person. Easy to transfer money from your bank account for immediate investing or withdraw your investments and deposit to your bank. The only con I have is with the app freezing up sometimes. Recommended.

9 months ago

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Britni Laidler Lindon, UT

Easy to use, I like that you can pick some stocks to watch. Wish there was a little guide to explain things to you. As a newbie it would have been nice. But overall I really enjoy it!

3 months ago

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Kevin Jackson Salt Lake City, UT

I started with Robinhood a few years ago to learn about he stock market. As a new comer who was still finding my strategy...Robinhood was crucial. With no fees, a flawless mobile experience and a speedy deposit process I was hooked from day one. I will never use another brokerage. In fact I have signed up for Robinhood gold at 10 dollars a month to get leveraged trading and after hours access. Robinhood also just announced free options trading, what’s not to love??

3 years ago

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Landon Badoni Montgomery, TX

Robinhood is great for those who are breaking into the investing scene and want a simple and straightforward investing option that allows them to do things on their own. I've been using Robinhood for several months now and have only really scratched the surface of what it can do. One feature I appreciate is that I can set it to automatically invest in certain stocks on a weekly basis. That way I don't have to constantly go in a think about investing each week.

10 months ago

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Emily H West Wendover, NV

Process for signing up was simple, straightforward, and secure. I love that you can buy partial shares so you can invest exactly how much you have. The company is great about sending automatic updates via email about gains in the account. They constantly have promotions for getting benefits for recommending friends. For a novice investor like me, I felt really happy with my first investing experience with this company!

10 months ago

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Becca Amiot Salem, VA

I recently started using Robinhood to get experience with stocks. I think it's great for beginners learning about investments.

3 months ago

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Anya Lee Jacksonville, FL

Robinhood gave me the ability to really take charge in my investment portfolio. This app is user friendly which gives me the confidence to invest more.

5 months ago

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Samantha Lubin Tallahassee, FL

Best stocks app I have ever used! Taught me a lot.

2 weeks ago

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Tommy McCarlie Chicago, IL

Although as they have gotten bigger they take longer to deposit funds for trading (and I would assume are making profits off of this) I still can't say no to Robinhood because it's easy to use and reduces the barrier to invest for beginners.

10 months ago

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Tiffany I Hyattsville, MD

Robinhood is easy to use and I like that I can buy Bitcoin there as well. I love how the favorites are broken down on my mobile app so I can see their activity

8 months ago

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Shannon B Salt Lake City, UT

I have loved Robinhood so far! It's amazing that they give you a free stock when you sign up and a free stock every time you refer a friend. I was intimidated to start investing, but Robinhood has made it so easy to start.

1 year ago

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jim mckee Rancho Palos Verdes, CA

I'm an experienced trader, yet couldn't resist no trading fees, so i put a small amount of capital to take a test drive, particularly that i trade options, and here is what i found, again, my opinion only.. 1. trading is a clunky experience, at best. They obviously want to keep it simple but do so at the cost of providing obvious navigational tools that all other sites have. 2. They have an option called 'replace', which means to replace an existing order that hasn't been filled. 3 times, the original order wasn't canceled so both the original order AND the replacement order were filled, and because i didn't have any buying power due to previous activity, i couldn't close the additional order. RH, no apology, originally tried to blame ME for the extra order, which they later walked back. The 3rd time it happened, they literally disappeared and wouldn't respond to my issues with their platform not functioning properly. Disappeared. 3. Customer Service..? Non-existent. The numerous interactions i've had with them have shown that their CS people know absolutely nothing about trading, options, or anything else about the site. Have a problem, like site malfunctions, shutdown, etc, which will happen to every site..?? No phone number to call, send an email and wait for a day to get a reply from someone who knows nothing... 4. They recognize etf's that come with higher volatility, such as VXX, and once you sell a holding in it, they limit the amount of available funds in your account to trade due to that higher volatility. Why...? I have absolutely NO clue. I don't need to be babysat. It's my money, don't tell me what i can trade or when. The hallmark of every bad online trading platform is terrible customer service. If that's what you're looking for, you're in the right place.

3 years ago

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Hannah Barth Tallahassee, FL

I do not like that Robinhood does not have investing research and trading tools.

2 weeks ago

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Eban Beltran Arlington, TX

Great service regardless of what’s in the news right now. They had to meet regulations but admittedly did a poor job of explaining that to their customers. Definitely not a service for the serious investor as it lacks even the most basic reporting to easily view the composition of your portfolio across companies and sectors.

9 months ago

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Abby Ashby Provo, UT

I like robinhood. I made $40 on it lol. So anything that makes me money is great. Looking forward to getting more into investing as I get more money... poor college student rn

10 months ago

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Karson Greenburg Salt Lake City, UT

I use Robinhood daily and am very satisfied. Its tricky to find a company that you can sincerely trust with your money and Robinhood has never let me down. It is also simple to carry out trades and keep and eye on your portfolio. They also offer option trading which is a plus.

10 months ago

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Caitlin Fayetteville, AR

I have had nothing but a pleasant experience with Robinhood. Although, I have used other platforms that are similar, Robinhood exceeds expectations in being straight forward and helpful. They are truly the platform for any user from beginner to advanced. They also have a very quick response time on support. 5 stars!

1 year ago

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JG00 Saint Charles, MO

I joined Robinhood last year and the app was already easy to use and explained everything perfectly for beginners in investing. They're was a recent update that also made it look more visually appealing. I enjoy the "Fractional Shares" option that Robinhood has.

1 year ago

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Taylor Larson Nakhon Sawan, 60

I liked using Robinhood because it introduced me to stocks and was easy to use. I liked how I did not have to pay fees on trades.

5 months ago

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Jodianna Maitland, FL

Good way to dip yourself into investing. Robinhood is a great way to start investing but can be a bit tricky to navigate at first.

5 months ago

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Ben Webb Orem, UT

The app has a lot of great features but the company itself is shady and has the worst customer service I've dealt with in a long time. They locked my wifes account today and refused to let her withdraw her funds after a transfer was reversed, even though she had enough in her account to cover the transfer reversal. There reason being that the account was locked for "security purposes". The only thing their trying to secure is the interest they collect off floating your cash before depositing it to your account. They have two phone numbers listed, one just says to email them then hangs up on you, the second rings for a little while then goes to a voicemail box asking you to leave a message then stating that they don't check it. They also sell their users trades to high frequency traders and make a TON of money doing it, but can't be bothered creating a web chat or phone line for customer service or let you access your own money. From an investor standpoint, what they offer is extremely minimal. Candlestick charts for 10 min blocks only, absurd. Very basic charts anyway, No educational resources, very limited news releases, no paper trading, really their only redeeming feature is the cash management. Their trades are also some of the last to go through to be filled, so if you and 10 people from other brokerages put in a limit order at the same time, you're likely to get stiffed because it fills the others first. If you're even a little bit serious about investing, go somewhere else. TD Ameritrade is great, offers no fee trades, options and so much more than what Robinhood offers. If you like the easy mobile app try Webull, again offers the same things and so much more that someone who wants to get serious with investing needs.

1 year ago

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Conrad Ma American Fork, UT

Robinhood is great for buying and trading stocks. They give you a free stock when you sign up but it isn’t necessarily something to get your hopes up about.

9 months ago

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Ryan Harpenau Fayetteville, AR

Robinhood has a lot more stocks to invest in than Cashapp which is awesome and they also give new costumers a free share of a stock which is a great deal because you make money either way with it. I did have trouble connecting my bank account so that would be my only complaint.

1 year ago

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Tony Riverton, UT

Just opened a Robinhood account a couple of months back and use it exclusively to trade options. I don't love the ease of seeing my account positions and you have to go into messages to see trades. Other than that, it's extremely easy to make trades and lighting quick to settle funds.

1 year ago

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Mason Allen Provo, UT

A simple way to get into stock trading for beginners like myself. Easy to navigate app interface & simple research information makes this app a good choice for trading.

10 months ago

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Jordon Patton Pflugerville, TX

Robinhood is a great way for new investors to start investing. They make it really easy to buy and sell stocks.

9 months ago

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Kyle Johnson Portland, OR

Robinhood has been a great way to get into the investing world. I love that its a free way to learn.

10 months ago

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Nate Ashby Provo, UT

Ok Robinhood is suuuuuuper user friendly. I had never dabbled in the stock market and found myself having a blast doing it for the first time.

10 months ago

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Jon Posey Riverton, UT

Hands down the best platform for online trading. It is so easy to use and helps illiterate traders like me dable in the market. Love it!

1 year ago

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Jon Moreno Sandy, UT

Robinhood was recommended by a friend and I have enjoyed my experience with some day trading. Plus you get a free stock when you sign up!

1 year ago

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Keld Sperry Lehi, UT

Robinhood has made it so simple and easy to trade stocks. With no fees buying stock it makes it the best stock app.

1 year ago

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jakira johnson Tallahassee, FL

I DECIDD TO USE ROBINHOOD BECAUSE IT LOOKED NICE AND WAS EASY TO USE.

2 months ago