Why Robinhood is the Best Broker
Everyone hates Robinhood but they still use it? Well they're actually using it for a reason and it's much better than its competition.
Robinhood is a commission-free investing platform. It is a wonderful platform for beginners and great for everyone. They do lack advanced tools and customer service, but I will be going over the awesome parts about Robinhood and how no other platform compares.
Easy Options
Apple stock options are displayed on the screen. Very easy to navigate and now they show a profit & loss chart as you scroll and move the possible strike prices. Selling calls is also easy because all you have to do is change it from "buy" to "sell". I downloaded WeBull and it's very hard to navigate, I couldn't even see the options prices. Robinhood makes it easy for everyone!
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Cryptos Available
Some brokers only allow ethereum and bitcoin, but Robinhood has more options.
Robinhood cryptos include: Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, Bitcoin SV, Dogecoin
Easy to use and it has a live option, if you invest in crypto your portfolio gets live chart faster which is a cool feature. They could improve by adding more cryptos and better pricing as they are a bit off but they are very easy to use.
The flash crash experienced last week from $64,000 -> $30,000 all the crypto exchanges crashed like Binance and Coinbase, but Robinhood stood which shows that they're doing a good job at maintaining the heavy traffic.
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Easy Orders
Buying and selling are very easy and only take 2 buttons to complete. Nothing else... it's too easy to use.
Use my link for a FREE stock -> https://join.robinhood.com/johnt1745
Robinhood Debit Card
The Robinhood debit card is very convenient and you can use your broker cash to spend your money. You get a bank account number and routing number allowed for you to use. You can also cash out at an ATM with 0 fees. So, this is also a cool feature. You can set this up for yourself or give it to your child to use as they store and invest their money.
Use my link for a FREE stock -> https://join.robinhood.com/johnt1745
Online Banking + Interest
You can use Robinhood as online banking. Just like all other banks, they insure $250,000 through FDIC. So, if you have extra cash and your bank account is already on the limit of the FDIC then you can put it on Robinhood for extra insurance money. You also get paid monthly insurance on that money depending on what the Federal interest rate is. Currently, it's 0.30% but it used to be 2% before the pandemic.
You can also use it for direct deposits for your job so you can invest quickly. When your money is being deposited to Robinhood they automatically allow you to spend the first $1,000 while your money is transferring. They have everything you need!
Cheap Margins
Margins are crazy cheap on Robinhood! Costing only 2.5% interest rate yearly and the first 1,000 is 0% interest. You can access this just by paying $5 a month for Robinhood gold which includes other features. Comparing to WeBull who gives a margin rate of 7% for 0-25,000 which is very expensive compared to Robinhood. So, it's a great strategy to buy margin from Robinhood and invest all into dividends and ETFs to easily make your money back.
Use my link for a FREE stock -> https://join.robinhood.com/johnt1745
User Interface
The user interface of Robinhood is top-notch and very easy to navigate. It makes it fun to look at the app watching your money rise or sadly fall. There are also categories where you can research stocks like: "top 100 most owned stocks" or categories like "technology" and much more!
Robinhood is very easy to use and as they keep improving and get ready for the IPO I expect them to do much better.
Use my link for a FREE stock -> https://join.robinhood.com/johnt1745
Conclusion
Robinhood is way too good and underrated. With over 12 million users on Robinhood, they are doing good for themselves. They are continuing to improve their customer service which will solve a big issue and overall Robinhood is the best platform to use!
Use my link for a FREE stock -> https://join.robinhood.com/johnt1745
About the Creator
John Tasci
Blogging is what I do for fun! I enjoy providing free education for everyone. For more top quality content check out my website -> www.tascifinance.com
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