Trade Stocks and Options For Free with Robinhood
Alright, so I know this is a lot different than what we usually talk about on TheTechSlugs, but this app just came to my attention a few months ago as a commission-free stock trading app (they also recently added free options trading).
This is more risky than simply making money online! Understand the implications of investing before you begin.
For a bit of background information, most stock brokerages make you pay a few each trade. This can be really bad if you are not looking to trade a lot of money at once. Robinhood is free of these fees completely.
If you are interested in getting started with investing, this is definitely an app to check out.
How will I use it?
I don’t plan on doing any long-term investments on here relative to something like a ROTH IRA or traditional IRA as they don’t even offer those accounts (only standard brokerage accounts are offered currently). They don’t offer mutual funds currently. I would like to use it for more aggressive investments that could do very well or pretty poorly. They also only currently offer a mobile platform for trading, but are working on a web version.
You definitely won’t see any earnings from this in my smartphone earning routine just as you wouldn’t see any earnings from cryptocurrency trading in my routine!