Why to use Robinhood ?
Can someone explain in two words, why should I use robinhood ? The only thing that I know is 0 fee per stock transaction
Isn't the 0 fee a enough reason
Besides that. Let’s say I don’t buy individual stocks
OP: why use a toilet? In this thread: so you can shit. OP: what if I don't shit? Joking aside, Robinhood is a stock broker. If you don't trade stocks, then you don't need a stock broker.
Can you list reasons why another platform is a better option?
I didn’t say that. I’m not someone who knows a lot about investment platforms. I’m trying to understand what’s revolutionary about Robinhood
0 fee trading from an app is semi revolutionary, at least it was a few years ago. If you don’t care about that convenience it might not be any better for you.
It’s a surefire way to get rich quick on options without knowing what you’re doing. Just read a little of r/wallstreetbets and you’re good to go.
This is fact. All you have to do is buy the farthest out of the money options you can find, and sell them when they're in the money. Easy as that.
Can confirm. I bought shares to this pets.com company once. I am now a billionaire
Robinhood is easy to use, plus no fees. If you're not buying and selling in bulks frequently, Robinhood is good enough. Oh and you don't have to pay fees.
Sofi also does the same, no fee for stock transactions, also etfs are on sofi
Sofi is late to the game. There's webull too.
Free is good
You shouldn't, it's a terrible product and a concerning company. There are no upsides other than that their app is prettier than real brokers. No one has fees and real brokers will actually pay you.
Can you elaborate on the real brokers part?
Which part? Robinhood isnt a broker or bank, they built a ui on top of an apex brokerage account. They may be trying to work towards that but so far it's all smoke and mirrors so wouldn't trust any real money with them.
If a product is free for customers, you are the product.
Because there are no fees per transaction
What if I don’t but individual stocks, but invest in ETFs?
No fees per transaction to buy or sell ETFs