How to start investing with Robinhood Investing?
The first step to start investing is to choose your broker. The second is to open your brokerage account. If you've read about Robinhood and want to join it, this article has some information about it for you.
Join Robinhood Investing: the easiest way to start investing and learn more about it
Opening a brokerage account with Robinhood Investing is as easy as using the app. With a highly intuitive platform, it has become one of the top choices of novice investors for several reasons.
In addition to the educational features and simple interface, the app is entirely free to use and does not charge any commission for buying and selling your ETFs, Cryptos, etc. In addition, new members win a completely free stock, chosen by lottery. Are you lucky to get a valuable Stock?
Learn more about the requirements to open your account on Robinhood Investing and how to do it.
Open account online
First, let’s take a look at the eligibility requirements:
- Be a U.S. citizen at least 18 years old.
- Provide a legal U.S. residential address.
- Inform your Social Security Number.
As Robinhood works primarily through its mobile app, you’ll need a smartphone that supports it, whether it’s an Android or iOS. So, if you have everything you need, let’s open this brokerage account.
Go to the Robinhood website to start your process. There will be a lot of information for you to provide, just like in every broker. But with a little patience, it will be over soon.
Enter your name, email, and password to create your login. Proceed with your personal info, like phone number, address, birth date, SSN, etc.
Next, Robinhood Investing will set your investment profile. They want to know your investment experience, your employment status, your net worth, etc. Read carefully the terms and conditions, and once you finish reading, agree with them and submit your info. It can take 24h-48h to get your account approved.
You will be redirected to another website
Join using the app
Now that you already have your account, you should download the Robinhood Investing app and log in to start managing your account. You can fund it by making a deposit, and start buying and selling your stocks, ETFs, Crypto, or Options.
Robinhood Investing vs. Ally Invest: choose the best for you!
Here, on The Mad Capitalist, we intend to let you well informed about your options. It is important for you to make a good research and always consider more than one broker before making a decision.
To give you a better overview of Robinhood’s features, let’s compare it with another investing app. Ally Invest is a tough competitor among online brokers and mobile investing apps. Its costs are relatively low and it offers a good range of investment options for you. Let’s look at their features side by side on this comparative table.
|Robinhood Investing||Ally Invest|
|Trading fees||$0||$0 for eligible U.S. stocks|
$0,50 per options contract
$9.95 per trade with mutual funds
|Promotion||Get one free stock for signing up||Cash bonuses for deposits starting at $10,000|
Are you wondering if Ally Invest is the right investing app for you? To solve this question, read the full review we’ve made about it. We’re sure you’ll find the information you need to clarify your thought and make a conscious decision.
About the author / Julia Bermudez
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