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Robinhood is a stock trading app that young users are starting to us. The app allows users to trade stocks publicly and invest in companies without the trading fee which a lot of other stock trading apps make you pay. This is the only app with 0 down payment.
The app was founded in 2013 by a man named Vladimir Tenev and Baiju Bhatt. Both men used to build high-quality trading platforms in New York City. They are were roommates at Stanford University and created the app in San Francisco. Both men created the app so that they can prove that not only the wealthy can invest in stocks, but average people can too. By eliminating the stock trading fees, many young people can invest in stocks which opens up a new demographic.
Robinhood is good in many ways, one of them being that the start-up cost could be $100 or less. A lot of people can make up to millions of dollars through the stock market but usually requires you to invest an absurd amount into a company. Robinhood takes away the fees which allow even college students to invest in a couple of stocks and make a profit from it. The app was aimed for millennials and is successful as most of the app’s consumers are people in their 20’s- 30’s who are not the upper-middle class. There isn’t much of a downside to Robinhood based on reviews say that the app can be slow sometimes or blackout due to the number of people on the app at the time
In conclusion, Robinhood is an app that continues to top the charts as one of the most innovative apps. The concept is open to anyone who wants to try trading in stocks or make extra money by investing companies. Of course, it is possible to lose money through stock trading if you don’t sell at the right time, but that’s why Robinhood states that if you want, you can start with a couple of dollars then gradually increase from that price. I recommend this app.
Citations
It’s Time to Do Money. (n.d.). Retrieved from https://robinhood.com/us/en/ Robinhood Review 2020: Pros, Cons & How It Compares. (n.d.). Retrieved from https://www.nerdwallet.com/reviews/investing/brokers/robinhood Robinhood: Most Innovative Company. (2000, January 1). Retrieved from https://www.fastcompany.com/company/robinhood