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d2jsp Forums > Off-Topic > General Chat > Investment & Finance > Robinhood App - Fee Free Stock Trading
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Retired Moderator
Posts: 115,464
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Aug 5 2015 01:52pm
Does anyone use this? I just downloaded it and googled it. Apparently it truly is free trades unlike etrade and Scottrade which charge like $7-10 per transaction as a fee. It seems too good to be true, but they have a tiny support team in silicon valley and no financial advisors or much overhead. Apparently they make their money off high margin accounts and the trading is limited to very basic trading and ETF type of things, so not much work on their part.

I'm excited to use this, but hesitant at the same time since obviously they need your SSN, bank account #, etc.

Anyone else use this or look into it?
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Aug 5 2015 01:56pm
plz pm me if/when u get an answer, ive been looking to get off of etrade for some time.
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Aug 5 2015 01:58pm
snipers, snipers everywhere
Retired Moderator
Posts: 115,464
Joined: Jan 19 2007
Gold: 33,791.94
Trader: Trusted
Aug 5 2015 02:00pm
Quote (thesnipa @ Aug 5 2015 02:56pm)
plz pm me if/when u get an answer, ive been looking to get off of etrade for some time.


I mean I've researched it extensively and everything looks great. I just hear it's minimalistic, but hey for us millennials that's kinda what we want anyways.

I already signed up and did enter my SSN and bank info. If you are part of a big bank like BOA, wells fargo, citi, or like 6 others, you can use your standard online login thru Robinhood which is convenient. My bank didn't have that option and it still works fine.

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