Robinhood Review 2021
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Attention!
Due to the large number of negative reviews about this company and because it occupies the low position of number 20 on our Ratings List of Forex brokers, the Traders Union does not recommend cooperating with this broker.
Instead, our experts strongly advise you to select a brokerage from among the Top 5 on our objectively ranked list:
Summary of Robinhood Trading Company
Robinhood is an investment company that has provided services in the Foreign Exchange Market for over ten years. Its owners engaged in software development for hedge funds ab initio and then teamed up to create a company that makes investing available to all. The broker is licensed to provide its services and is a member of the Financial Industry Regulatory Authority (FINRA) in the United States. There is no information about the broker receiving awards for their activities.
It is mandatory to open an account through the Traders Union referral link to invest through Robinhood and receive compensation in the form of rebates for the spread from the Traders Union only.
👍 Advantages of trading with Robinhood:
- trading stock market instruments without paying commissions;
- the ability to trade from mobile devices;
- hassle-free registration procedure.
👎 Disadvantages of Robinhood:
- the broker does not offer Forex instruments for trading;
- there are no offers for receiving passive income;
- training materials on the website are limited;
- the company works with clients exclusively from the US;
- lack of online support.
Overall
Robinhood markets is focused on working with traders from America but does not provide opportunities for active trading in currency pairs.
Visit RobinhoodTop 3 Robinhood Customer Reviews
Robinhood is a real catch for US citizens and an uninviting broker for non-US residents. Here’s a striking example. My friend lives in Nebraska, invests without any problems, and receives a small income from trading using Robinhood. I can invest, but I will not be able to withdraw funds without an American bank card. I understand this clearly. Therefore, I chose another company. So, I recommend you to be more careful before investing in a company that you have heard something good about from your acquaintances, especially from friends from other countries.
Robinhood is a perfect con artist. There is no information at all and nothing is specific. Just look at the site. There is general information about investing, but there is a feeling that it is not connected to or relevant to the company itself. There’s no detailed information about the trading tools. Regular companies provide specific information on their assets. The lack of proper support services is also a failure. You gotta look for the answers individually and trudge through all the FAQs. The only pleasant thing here is that you can invest using a laptop, a phone, and you don't need to re-register. But these advantages are too dubious for me to recommend the website to anyone for investments.
I heard about Robinhood from a friend who moved to America a year ago. She said that you could invest and earn money in a snap. Of course, I realized that it was necessary to understand the market's principles, but why not try? And now it turns out that the company only works with United States’ residents, and even if you open an account through a VPN, that wouldn’t make much sense because you won’t be able to withdraw your money. Since the broker is so security cautious about data privacy and protecting clients' personal information, why not have a glance at VPN? I don’t know if it is a scam or only problems with its withdrawal system.
Robinhood Latest Comments for 2021
The reviews by customers of the Robinhood indicate that it is a reliable brokerage company. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.
Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of Robinhood published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.
I figured out Robinhood’s ins and outs, and made the right decision. Then I made a deposit and started trading on a real account. There were no troubles, and the spreads are low, the execution is fast, the interface is cool, you can quickly get used to it. I've been tight with Robinhood for about three years, and so far, this broker makes me thrilled. Everything is done at the highest level! They have low spreads and fast order execution. There have been no problems with the withdrawal. Everything works as it should, as it's a solid broker. Withdrawals sometimes come with a delay, but the main thing is that they come. There is adequate support. I have been trading for six years now and this is one of the best brokers that I have found. All controversial situations are resolved. I have not seen this before, which is why I am writing. I am glad to cooperate, and I recommend Robinhood to anyone.
My sound advice to beginners from a trading shark is to think twice before choosing this broker. It should be the time of your life. Do not be too lazy to read all the conditions: yes, yes, thoroughly, before opening an account here. Then you won't have to pay extra commissions. The services are handy, there were no problems with the withdrawal of funds. So you can work comfortably. The broker is by far the best I've tried. So far, everything is running smoothly. I'm not looking for another broker. Many years of successful work experience and tens of thousands of active participants testify to the broker's high trustworthiness. In general, the broker offers standard terms of cooperation. But it should be noted that all the necessary bases for trading in any category of traders, from beginners to experienced professionals, has been created here.
Many US citizens use the services of this Forex broker. The company provides very interesting conditions, especially for novice players. It is reliable and fosters the success of its users. I've been trading for four years and have no complaints. For the last half a year, I have been sitting pretty and trading through a mobile application. It's a one-of-a-kind broker. Besides solid technical support, you can always consult on market conditions. They will give sound advice. I am a decent broker. I prefer it because I already have an investment account. There were never any problems. It's a very convenient trading platform. Don't hesitate to sign up and start trading today.
I opened an account using a mobile device, but the functionalities are standard when using the web interface. Opening an account is extremely fast: it took about 10 minutes to apply, and the verification process took less than one day. The first step in opening an account is to apply. You must provide your personal information, including address, date of birth, and social security number. After providing your personal information, you will need to answer a few short questions about your trading experience. Everything went very quickly and smoothly.
An important feature of this broker is the presence of leverage. Leverage refers to the ability to trade with money borrowed from a broker. In Robinhood, this tool is called Buying Power. On Cash and Standard accounts, you will not be able to trade using leverage, while a maximum of 2:1 leverage is available on the Robinhood Gold account. Be aware of the increased level of risk associated with higher leverage. You can make more profit, but you can lose more money just as well. Thirdly, the accounts differ from each other in availability and the amount of instant deposit.
My friend is a trading shark with a wealth of experience, and he recommended me to test this broker. It has a lot of obvious advantages. Robinhood allows you to trade US stocks without commissions, and there are no fees for withdrawals or inactivity.
Also, it provides a user-friendly mobile trading platform and web interface. Finally, the account opening process is smooth, completely digital, and lightning-fast. I recommend it for novice traders and long-term investors active in the US stock market.
Robinhood is an excellent option for a beginner trader who is not ready to pay high commissions. To register, you need to go to the broker's official website and click on the "Register" button on the main page. After that, you need to confirm the mail address and enter personal information: full name, residence, address, date of birth, etc. I have also registered to buy fractional shares through another tab. To submit a questionnaire, you only need to provide an email address. I am making baby steps in trading with the broker’s aid.
Expert Review of Robinhood
Robinhood (Robinhood Markets) has been providing investment services for about ten years and has been a Traders Union partner for more than a year. It fulfills all its obligations to its clients (the traders), which speaks admirably of its reliability. Robinhood provides three types of accounts for customers, which can be changed at your discretion after registration.
Only US residents can work with Robinhood. At the same time, the broker is concerned about users' financial security and, upon registration, asks for information about their investment and trading experience. The main complaints against the broker come from foreign clients who are unable to withdraw their earned funds.
The Robinhood Markets website provides investors with basic information about the company and the principles of investing to make money. The trading conditions are not indicated in full. It is also worth noting that the broker's focus is on clients from the United States. English is the only interface language.
Analysis of the Main Features of the Forex Broker
Dynamics of the Popularity of Robinhood
in 2020 among the Users of the Traders Union
Investment Programs, Available Markets and Products of the Broker
Robinhood provides a range of brokerage services on the market. Customers can purchase shares and receive bonuses from the company's income or sell shares over time: their value increases as the company develops. However, the company does not have programs for generating passive income that is expected among traders. Investing is possible by buying and selling stock assets or cryptocurrency, but there are no services for copying transactions or PAMM accounts with managers at Robinhood Markets.
If you are a large investor and plan on investments over $ 10,000, contact us at [email protected] by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
Robinhood affiliate program
"Invite 3 - Get 4". Each client of the company can become a member of the referral program. It is enough to use the Robinhood app and invite friends there. For every third client attracted, the trader receives a bonus in a random promotion to his account. The cost of a share can range from $2.5 to $200.
Rebate and Discount Programs of the Traders Union for Robinhood
Traders who use the services of the Traders Union rebate service significantly reduce the size of the trading commission. To do this, you need to go through a quick registration on the Traders Union website, open an account with Robinhood using the Traders Union partner link, and trade as usual. For each trade, both profitable and unprofitable, a financial bonus (in the form of a rebate) will be credited to the trader's account. It is a partial return of the spread that the client pays to the broker to execute the order. Thus, the trader receives monetary compensation on his account continuously.
Try it! You’ll like this!Trading Conditions for Robinhood Users
Robinhood allows US users to trade stock market assets without commissions. Investors are offered three types of accounts, which can later be changed, but a Robinhood Instant account is automatically opened upon registration. The company does not provide detailed information on trading conditions.
$0 for standard accounts, $2,000 for Robinhood Gold account.
Minimum
deposit
Depends on the type of asset
Leverage
24/5
Support
| Trading platform: | In-house application and web platform |
| Accounts: | Robinhood Instant, Robinhood Gold, Robinhood Cash |
| Account currency: | USD |
| Replenishment / Withdrawal: | Through a bank card linked to your account |
| Minimum deposit: | $0 for standard accounts, $2,000 for Robinhood Gold account. |
| Leverage: | Depends on the type of asset |
| PAMM-accounts: | No |
| Min Order: | No |
| Spread: | No |
| Instruments: | Stocks, gold, options, money management, cryptocurrency |
| Margin call/Stop Out: | No |
| Liquidity provider: | No |
| Mobile trading: | Yes |
| Affiliate program: | Yes |
| Orders execution: | Market |
| Trading features: | Trading without commissions |
| Contests and bonuses: | No |
Comparison of Robinhood with other Brokers
| Robinhood | FxPro | XM Group | Admiral Markets UK | AvaTrade | |
| Trading platform |
No | MT4, MobileTrading, MT5, cTrader | MT4, MT5, MobileTrading | MT4, MT5, iPhone, iPad, Android, MT4 Supreme Edition | MT4, MobileTrading, Zulu Trader, Mirror Trader, AvaTrader, AVA Option |
| Min deposit | No | $100 | $5 | $200 | $100 |
| Leverage | No |
From 1:1 to 1:500 |
From 1:1 to 1:30 |
From 1:25 to 1:500 |
From 1:200 to 1:400 |
| Trust management | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No |
| Spread | No | From 1 point | From 1 point | From 0 points | From 0 points |
| Level of margin call / stop out |
No | 25% / 20% | 100% / 50% | 100% / 30% | 25% / 10% |
| Execution of orders | No | Market Execution, Instant Execution | Market Execution | Market Execution | Instant Execution |
| No deposit bonus | No | No | $30 | No | No |
| Cent accounts | No | No | Yes | No | Yes |
Broker comparison table of trading instruments
| Robinhood | FxPro | XM Group | Admiral Markets UK | AvaTrade | |
| Forex | No | Yes | Yes | Yes | Yes |
| Metalls | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | No | No | Yes | Yes |
| CFD | No | Yes | Yes | Yes | Yes |
| indexes | Yes | Yes | Yes | Yes | Yes |
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | No | No | Yes | No |
| Options | Yes | No | Yes | No | No |
Commissions & Fees Robinhood
Analysts of the Traders Union have reviewed the trading conditions of Robinhood Markets for implicit and explicit commissions and fees. Hidden commissions were not revealed. The broker does not charge a trading fee for the replenishment of the deposit or the withdrawal of funds. No commission is charged for order execution. Please note: there is no commission for assets from the US market only. A trading fee is charged to traders for trading European stocks.
| Account type | Spread (minimum value) | Withdrawal commission |
| Robinhood Instant | From $0 | No |
| Robinhood Gold | From $0 | No |
| Robinhood Cash | From $0 | No |
We also checked the commission level at Robinhood and compared these figures with other well-known brokers. According to the research results, each of the companies was assigned a commission level: low, medium, or high.
| Broker | Average commission | Level |
| Robinhood | $0 | Low |
| FxPro | $13.2 | High |
| Admiral Markets UK | $5 | Medium |
Robinhood does not provide data on trading fees for deposits and withdrawals, and there are no hidden fees. There is no order execution fee, and there is no data on average spreads on the broker's website.
Detailed Review of Robinhood
Robinhood is a broker that helps the user preserve their capital and increase it through profitable investments in the stock or cryptocurrency market. The company is keen on assisting the trader in earning money for its traders. Therefore, there are no or minimal commissions for transactions.
A few facts about Robinhood that may be useful for traders selecting a broker:
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there are three types of accounts;
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trading in all assets is available 24/5, except cryptocurrency, which is available 24/7;
-
on average, it takes only five minutes to open a trading account.
Robinhood is one of the best investment brokers
Robinhood Markets is a company that has set itself the goal of making investing affordable for everyone, regardless of financial capabilities. The broker is actively developing in the field of investment, expanding the number of trading instruments and improving the quality of service.
Trading at Robinhood markets is carried out on its proprietary online platform, requiring additional software installation. Trading is available both on a personal computer and on mobile devices.
Useful Robinhood services:
-
FAQs. This section contains detailed answers to frequently asked questions about Robinhood investing, regulation and licensing, account deposits, and withdrawals.
Advantages:
provides investment instruments;
offers the ability to trade from mobile devices;
has a quick and easy registration procedure.
How to Start Making Profits — Guide for Traders
There are three types of trading accounts at Robinhood Markets. However, upon registration, the user automatically opens a Robinhood Instant account, which can subsequently be changed. The main difference between accounts is the commission's availability for the execution of transactions and access to instant deposits.
Account types:
It is impossible to test the company's trading conditions without financial risk since there is no virtual account at Robinhood Markets.
Bonuses Paid by the Broker
The only bonus available to Robinhood customers is for participating in its referral program. The company does not provide any other remuneration.
Bonuses from the Traders Union
Cooperation with Traders Union will help to reduce trading costs. It is a rebate service that pays traders a financial reward daily as they make trades, regardless of whether the trades are profitable or not. To receive a bonus, you need to go through a quick registration on the Traders Union website, open an account with Robinhood using a referral link, and begin trading as usual. The accrual of bonuses is possible only if the account was opened through the rebate service.
Investment Education Online
Robinhood Markets not only allows clients to invest but also explains the basics of investing.
The user won’t learn the ropes about the stock market without risks since there are no demo accounts in Robinhood.
Security (Protection for Investors)
The cryptocurrency arm of the broker Robinhood Crypto LLC is licensed to provide services (license number 61417) issued by the State of Georgia and a fund transfer license obtained in New Jersey (license number 1803456-C22).
Robinhood Markets is a member of FINRA, the US Financial Services Regulatory Authority, and is overseen by the US Securities and Exchange Commission (SEC).
👍 Advantages
- Licensed to provide services in the United States
- The presence of a regulatory body
👎 Disadvantages
- The regulator does not accept claims for compensation for moral damages
Withdrawal Options and Fees
-
The client needs to submit an application in the personal account in the "Withdrawals" section to withdraw money. There are no restrictions on the number of requests, but you cannot withdraw more than $50,000 in one business day. There are no data on withdrawal fees.
-
Account replenishment and withdrawal of funds are carried out using a bank card, which the trader initially linked to his trading account.
-
Crediting funds for replenishment takes about a day, for withdrawal from 2 to 5 working days.
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You can withdraw funds in the same currency in which the account is opened.
-
To replenish an account or withdraw funds, the user must go through the verification procedure.
Customer Support Service
Robinhood does not provide customers with the ability to resolve their issues through support. The only way to resolve questions is through an online questionnaire and/or search for answers in the FAQs section.
👍 Advantages
- A voluminous FAQs section with detailed answers to basic questions
👎 Disadvantages
- Lack of online support from specialists
A trader can get help by:
-
filling out an online questionnaire.
The user must be registered on the Robinhood website to receive assistance.
Contacts
| Registration address | 85 Willow Road Menlo Park, CA 94025 USA |
| Regulation |
FINRA, SEC |
| Contacts |
Email:
[email protected],
|
Review of the Personal Cabinet of Robinhood
You must complete the registration procedure to become a Robinhood client and receive financial rewards for trading from Traders Union. We will give you step-by-step instructions and tell you about the functionality of your personal account.
Complete a quick registration on the Traders Union website, follow the referral link to the Robinhood broker's page and click on the "Sign Up" button.
Fill in the form with your personal data using English only. The questionnaire appears in parts. All data must be correct, and all fields are required.
After filling out the questionnaire, you will be taken to your Account. You can start trading after you link your bank account to your Robinhood Markets account.
The following functions are available to users in their personal account:
Additionally, the following sections are presented in the personal account:
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documents (for verification);
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banking (linking an account to a card);
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free promotions (bonuses), if any.
Tags:
RobinhoodThe Oldest Reviews of the Robinhood
The reviews by customers of the Robinhood indicate that it is a reliable brokerage company. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.
Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of Robinhood published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.
Robinhood is a reliable broker, proven over the years. I've been trading here for a long time, and I'm not going to change my heart and quit. Working conditions are constantly improving, so huge respect for this! They always try to develop and keep up with the times.The maximum withdrawal period I had was two days; usually, everything takes about 3 hours. It's one of the most reputable Forex companies. For a year, there was only one delay in payment. Moreover, the broker fulfills its obligations and holds every client accountable! With a wide range of systems for depositing and withdrawing funds, you can choose the one you like the most. It works like a clock — an excellent choice for your investment and confident earnings.
It's a high-speed and outstanding service. I'm obsessed with this broker and have been trading with it for over two years and highly recommend it to everyone. On the broker's website, you can trade from both desktop and mobile devices. Scrolling through the page of the official sites, you will see a registration form. Here you must indicate your last name and first name, nickname, password, email address, and telephone. You need to accept the terms of the company’s policy and click on the "Register" button. I'm walking on air. These dudes are doing a phenomenal job!
I have been working here for over a year and have not had any problems so far. I am pleased with the presence of detailed analytics and a dashboard. Technical support works at its best. There were no problems with the withdrawal either!
I see that due to the appropriate conditions and the platform's smart execution, you can earn money.
Probably, it's one of the few normal brokers in the game. They work transparently. There are also amazing technical opportunities for trading. The broker provides a very user-friendly website, interesting analytics, and the most important favorable conditions. I also never had any problems with trading. Everything works like a clock. The support is running like a Swiss watch and the withdrawal is lightning-fast. In principle, they fulfill everything that is stated under the conditions. I also like that they have a lot of additional useful trading software. I waited a very long time for verification for the first conclusion, and now there are no problems
Robinhood holds every client accountable and uses SSL technology to securely encrypt and protect each trader's data. Also, the users’ deposits are not transferred to third party financial institutions without the permission of the users. I have been trading here for two years and the company's support is flawless. The broker can be contacted by hotline, fax, and email. The official website and support service will not leave you unsatisfied.
The Internet broker Robinhood stock trading and investment firm was the first in the world to abolish commissions for transactions in stocks. The marketing ploy attracted 10 million users and forced other brokerage firms to follow suit. Robinhood generates revenue in at least three ways: it charges interest on funds that users hold in Robinhood accounts, it sells premium subscriptions to enhance services on the platform, and it sells order flow to exchanges for more liquidity. With multiple streams of revenue, the company retains its goal of providing free services to its users. It sparked my interest.
I have been trading with Robinhood for a long time. They have a user-friendly website. The service is available for iOS and Android. The web version is PC compatible and supports most modern browsers, including Chrome, Safari, Firefox, and Edge. The broker cooperates with traders from most countries, and you can open trading positions even through a mobile application. The firm offers favorable partnership conditions (bonus accruals for each invitee). The company is also known for its huge support among other financial institutions. The list of partners is presented on the official website.
What I like is that users can automatically transfer money from their online accounts to US banks. At the same time, variable interest rates will be paid on each amount. The company provides debit cards from Mastercard to manage the bank account.
The Federal Deposit Insurance Corporation (FDIC) insures all accounts between $250,000 and $1.25 million. The mobile version is completely identical to the desktop application in terms of its functionality.
Author of this Review
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FAQs
Do reviews by traders influence the Robinhood rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about Robinhood you need to go to the broker's profile.
How to leave a review about Robinhood on the Traders Union website?
To leave a review about Robinhood, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about Robinhood on a non-Traders Union client?
Anyone can leave feedback about Robinhood on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.
Why is it more profitable to work with Robinhood through Traders Union?
Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same.
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