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Acorns vs Stash vs Robinhood Investing App Review: Safe & Legit? +Fees

Rachel Carey
Financial Guru
Updated: 1/2019

Acorns vs Stash vs Robinhood Review

Table of Contents

Investment Apps: The Pros and Cons of Four Popular Options

The advent of the smartphone has completely revolutionized the way we handle our financial matters. From bill paying to credit score tracking, we have the convenience of holding all our affairs at our fingertips. The release of new investing apps makes the cake taste that much better. Novice investors often are intimidated at the complexities and processes required to successfully invest their hard-earned money. And rightfully so.

In the late ‘90s and early 2000s, there were no apps at all. We might as well have been in the Stone Age. You might have held an account with one of the brick-and-mortar investing companies such as Vangaurd. If you did, you would be paying huge sums of money in trades and would have the enviable task of attempting to juggle all your money between multiple mutual funds. At that time, there were not many other options. Trading commissions was expensive as a general rule, but certain low-cost investing options allowed you to purchase and/or sell mutual funds at little to no charge.

E-Trade Financial was around at the time, but not everyone was aware that the company offered extremely low trading commissions. TradeKing (now Ally Invest) was the new rage with $4.95 stock commissions. Over the years between then and now, new entrants into the investment world would pop up, but most of these were either bought out or went out of business upon discovering that their methods were unsustainable. Today, however, opportunities for advancement in the financial technology field (fintech) are literally booming. There are plenty of options out there for you to choose from.

Below you will find comparisons between four different investment apps. Each one has its pros and cons, so read carefully to determine which one is best for your situation and financial needs. If you are already well-established in an investing firm and have large portions of your money invested in mutual funds or different growth stocks, you might not need to make to switch to micro-investing apps or free trading platforms. However, budding investors will appreciate the ease and simplicity that these apps bring to the investing world.

OUR TOP PICK

Acorns

Why Acorns?

  • This mobile investing app builds your investment portfolio from “spare change”.
  • Offers a painless method of investing as you build your investment by spending normally.
  • You can build your investment based on your investing profile (conservative or aggressive).
  • Best known for the simplicity it offers in managing your investments.
Try Acorns

Acorns

Acorns vs Stash vs Robinhood Review

Acorns is another mobile investment app that has made its way onto the market. It differs from Stash in one major way. Instead of funding your investment accounts from bank transfers, it invests using “spare change.” This feature makes Acorns perfect for someone who is a natural money-saver to begin investing painlessly. You will accumulate investment capital by simply spending your money normally. Acorns’ main selling point is the ability to easily select a portfolio by taking away the need to compare a zillion funds under your own power.

As an example, say you make a charge for $8.50 for a meal and a cup of coffee at Arby’s. Acorns will then round this purchase up to the nearest dollar for a total of $9.00. The additional fifty cents of this money will be moved into your Acorns account. This process is called a “Round-up” and is performed when you connect your mobile phone to your bank account and your credit cards. The app invests the change from your purchases automatically and can be set to collect round-ups based on either the next dollar or the next $10. Upon reaching a total of $5, your round-up funds will be transferred into your Acorns account.

Like Stash and Betterment, Acorns determines your investment profile based on your answers to their questionnaire. You will then be offered up to five portfolio options with a combination of six low-cost ETFs. Your portfolio can range from conservative to aggressive. Conservative portfolios contain a higher percentage of bonds to stocks. Aggressive portfolios contain a higher percentage of stocks to bonds. Your account will be fully managed by Acorns, making this a great option for those who would like a bit of extra help with their investments.

Acorns fees are exactly the same as Stash. Accounts below $5,000 are charged $1 per months. Once you reach the $5,000 threshold, you will be charged 0.25 percent per year.

The main selling pint of Acorns is the simplicity it offers when choosing your investments. You will be asked your age, the length of time you would like to invest, your income level and your financial goals. With this information, Acorns will then calculate your risk tolerance. Upon making this calculation, you will then have the option to choose from the five portfolio options offered by Acorns.

Withdrawals are not penalized by Acorns. However, it will take up to seven business days for the money to show in your bank account. This delay is caused by Acorns’ selling of stocks and bonds from your account to cover the withdrawal costs. This process can take up to three business days on its own. After the stocks and bonds are sold, the company will transfer the funds into your bank account, which can take up another three or four days. Acorns is best suited for those who want to invest in short-term goals and who struggle with setting aside money each month for their wants or needs.

Pros

  • Acorns is the perfect choice for those who have been unable to save and invest money before now. The savings method is completely passive and requires no effort on your part. All you need to do is spend your money as you would normally. The spare change will automatically be transferred to your Acorns investment account.
  • No minimum account balance is required. You will not need to establish recurring deposits and can deposit as much or as little as your want each month depending on your spending patterns. Recurring deposits are an option, however, it you want to speed up your investment process.
  • Full-time students are able to use the Acorns app for free, making it perfect for those who are focused on getting a higher education and who don’t have the time to actually earn money to invest.
  • Withdrawals are free and can be done at any time. There are no daily or monthly limits.
  • You can change your portfolio at any time. If you decide you no longer want to invest in certain companies or if you just want to switch things up, choosing a new portfolio is a snap. You also have the option to accept or decline portfolio recommendations based on your desires.

Cons

  • Acorns has the same problem as Stash for accounts with small balances. If you have less than $5,000, that hefty $1 fee per months can very quickly burn through any earnings you may have made with your investments. As an app that is aimed at investors who are only saving pennies on the dollar at a time as a “side hobby,” these fees can render your investment ineffective in a very short period of time.
  • Acorns only offers six ETFs instead of the 40 that Betterment offers. Although most robo-advisors offer a limited number of ETFs, the minimum number is usually 12 at the least. A mere six is a little constricting.

Stash

Acorns vs Stash vs Robinhood Review

Stash is another robo-advisor, but it also operates as an investment app for your phone. As a micro-savings application, you can invest with amounts as low as $5. Similar to Betterment, Stash requires the completion of a brief questionnaire that determines your risk tolerance. While Betterment creates a standard portfolio, Stash creates a portfolio based on 30 different investment themes from 40 ETFs. These investment themes are extremely specific and include names such as “Clean and Green” and “American Innovators Fund.”

Clean and Green is the iShares Global Clean Energy ETF, which is a fund invested in companies that support or use renewable energy. The American Innovators Fund is the IT ETF from Vanguard with more holdings in more than 300 technology companies such as Microsoft, Apple and Facebook. Depending on your level of risk tolerance, Stash will suggest the funds that will best fit your financial situation.

Stash does not manage your portfolio the way Betterment does. Instead, Stash makes investment recommendations and leaves it up to you to take action. Fees for Stash are a little higher than Betterment. Balances under $5,000 are charged $1 per month. A 0.25 percent annual fee is charged for balances greater than $5,000. As a new user, you will receive the first three months of service for free. Your fees are taken from your bank account and are not withdrawn from your investment portfolio. All you need to get started is a minimum of $5.

Withdrawal are free from fees and penalties, but you are only allowed to withdraw $10,000 per day. Withdrawals can take up to three business days to process before they are available in your bank account. If you need to sell investments first, the transaction may take a little longer.

Stash is a good option for the new investors who want to get started but who are looking for an easy non-scary way to get their feet wet. Stash also works for those who have limited funds to invest and those who want to invest in fractional shares without the need to choose stocks one by one.

Pros

  • Stash allows you to choose from 30 different investment themes. This gives you the ability to invest in the market niches you believe in and opens up the chance to outperform the general market.
  • Stash’s fee of 0.25 percent is comparable to other robo-advisor platforms once you reach the $5,000 threshold. These fees are very low as long as you contribute enough money to the account each month.
  • You are able to choose your investments and can pick individual stocks. This option is rare to find with robo-advisor platforms.
  • You only need $5 to get started.
  • The first three months are free for first-time users.
  • You have the ability to invest in fractional or partial shares in companies of your choice. This eliminates the need to select stocks piecemeal.
  • The AutoStash feature allow you to schedule automatic deposits into your account from your bank. This feature can be helpful for those who are interested in setting aside money but have a hard time doing so.

Cons

  • The $1 monthly fee will take a significant chunk out of your investment gains until you reach the $5,000 mark. As an example, if your account only has $100 in it, you will be charged $12 per year (a 12 percent fee). This can really eat away at low balance accounts and may even cause you to lose money.
  • You are only able to view your account on your smart phone. There is currently no desktop platform available. This can cause a problem for those who want the option of using a larger screen.
  • Stash offers funds that are also available to those who are not using the app. This means that you will be competing with those who are not required to pay the 0.25 percent annual fee for maintaining an account with Stash.
  • You will need to maintain your account portfolio on a yearly basis to make sure that the fees are not so high as to render your investments ineffective.
  • Stash does not manage your account for you. You will receive recommendations and suggestions, but you will be required to maintain and rebalance your account periodically on your own.
  • The fees you are paying do not apply to account management and are only for investment recommendations.
  • While this app is a good kick starter to give you a leg up, it will not necessarily get you to a higher level with investing.

Robinhood

Acorns vs Stash vs Robinhood Review

Robinhood is in a class all its own as far as investment apps go. Robinhood is an investment services that offers free trades (yes, free trades, you read that correctly) in stocks, ETFs and other options. It is geared toward experienced investors who are looking for a way to trade without needing to pay commissions. Unlike the other three options, however, Robinhood does not offer any recommendations or portfolio management. It is strictly a trading app. You will need to handle all the work on your own.

Robinhood allows you to trade stocks and either purchase then immediately or place them on a watch list to purchase at a later date. You do not need to have a minimum balance to open or maintain a Robinhood account. Robinhood also does not charge any fees at all and is a completely free app. Upon signing up for the service, you will link it to the bank account from which you wish to pull funds. You are then ready to trade stocks. Robinhood provides a platform where you can type in the name of the stock of your choice and either save it for later or purchase it on the spot.

On the homepage of Robinhood, you will be able to locate the cost each share of stock in real time and will have access to any current news related to the stock. Once the trade has been finalized, you will have the option to purchase more shares or to sell the ones you already have.

Any uninvested funds within your Robinhood account are required to remain there for five full trading days before you can withdraw then for other purposes. According to Robinhood, this limit is in place to prevent money-laundering and to help manage risk. You are also required to wait for your funds to settle in your accounts following a sale before you are allowed to perform a withdrawal. From the date you make the trade, you will need to wait another three days before the process is completed.

Robinhood is an ideal app for those who are experienced in stock trading and who have the ability to manage their own investment accounts and options with little or no support. Robinhood also offers a commission-free option for those who want to launch headfirst into the world of investing.

Pros

  • Robinhood does not have any minimum investment fees to get started or to keep the account open. Neither are there any charges required to maintain the account.
  • You have the ability to set up automatic transfers to your account. This option can save you time and the need to remember to make the transfer manually.
  • When you sell stocks and ETFs, you are immediately able to use the money to reinvest if you so choose. There is no waiting period.
  • Robinhood is perfect for active traders who want to trade without the need to pay commissions.

Cons

  • Because Robinhood does not have any type of user support, it is not a good option for those who are new to investing and those who are only investing minimal amounts of money. There are no customized portfolios offered.
  • Robinhood is very-hands on and requires you to have your finger constantly on the pulse of the stock market.
  • The Robinhood platform is not full-service and only allows you to trade in stocks, ETFs and the recent addition of cryptocurrencies. If you want to trade options, OTC securities, warrants or mutual funds, you will need to find a different platform.

 

Betterment

Betterment is one of the largest and most well-known independent robo-advisors for a good reason. They are one of the fathers of the app investment industry and have been a powerful influence in the world of investments. They enable new and small investors to take part in professional investment management at very affordable costs.

Betterment takes the guesswork out of the investment equation. The app uses software and algorithms to manage your money using a combination of Vanguard ETFs, short-term Treasuries and inflation protected Treasuries. The algorithm manages your investments for you and will rebalance them as needed to ensure your investments are put to the most effective use. To begin, you will complete a questionnaire that determine your risk tolerance, your investment goals and your time horizon. With this information, a portfolio of exchange-traded funds, or ETFs, is generated that matches your investment profile.

Your portfolio will contain 13 ETFs that represent the general market, large-cap stocks, medium-cap stocks, small-cap stocks, international stocks, stocks in emerging markets and multiple bond funds. Betterment even provides a value fund that allows you to invest in stocks in companies in an out-of-favor status. This method is a tried-and-true way to earning money in stocks and is used by successful investors the world over.

Betterment also allows you to create custom sub-accounts called goals. Goals can be established for long-term savings such as emergencies and retirement or for medium-term goals like a down payment on a house. Your goal-based portfolios will have their own allocated funds. You have the option of adding new goals at any time and can remove goals you no longer want to fund.

At this time, Betterment is offering a promotion of up to six months use for free. After that time, you will be required to pay a low fee of 0.35 percent annually on any account with minimum monthly automatic deposits of $100. If you fail to deposit at least $100 each month to your Betterment account, you will be charged a $3 fee. Accounts holding at least $100,000 will be charged 0.15 percent annually.

Unlike some investing firms, Betterment does not charge a fee for withdrawals. Withdrawals tend to take four or five business days to process. If you recently made a deposit, your withdrawal may be delayed while the first action settles.

Pros

  • Betterment is a good first choice for beginning investors who are investing for long-term goals or small investors who are looking to make a start.
  • A free six-month promotion makes it a good program to try out to see how you like it.
  • The investment mix offered by Betterment includes value stocks that have the potential to outperform the market.
  • Betterment offers extremely low fees up to 0.35 percent maximum.
  • Personalized retirement advice is offered for new investors.
  • No penalty is charged for fund withdrawals.
  • The new RetireGuide plan provides free retirement savings advice for beginners and experts alike.
  •  Users of Betterment have free access to an independent certified financial provider in addition to the robo-advisor platform.
  • A SmartDeposit feature allows the user to set an automatic deposit amount each month for convenience. This feature can help support those who struggle with setting money aside.
  • The desktop capability allows you to view your account on your monitor.

Cons

  • Betterment does not have options for investing in real estate or commodities.
  • A fee of $3 will be charged for each month that you fail to contribute at least $100 to your account

Conclusion

These apps all have their unique strengths that can make a world of difference for your investments. Choosing the right one can will make your life easier and will boost your investment potential for better results.

Acorns FAQ

This group of sections will answer your questions about the popular spare-change investment app Acorns. We’ll answer general questions about the app, questions about its safety, and questions about using it.

General Acorns Questions

This section answers the general questions that you might have about Acorns, including what it is and how it works.

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Is Acorns Worth It?

For many people, yes. You can have the purchases on your linked cards rounded up to the nearest dollar. This money will accumulate and grow without any effort from you.

Has Anyone Made Money on Acorns?

Yes, lots of people have. A combination of round-ups and regular deposits can allow your Acorns account to grow quickly.

What Is Acorns Investing?

Acorns investing is an app that takes your spare change and any other contributions and uses it to invest in a range of stock options. You get money as those stocks grow and from dividends.

Does Acorns Work?

Yes – the app does exactly what it says it will do. You set your preferences for investing, link a card or two, and set up regular payments if you want. The app does the rest and your money will grow.

Is Acorns a Good App?

Yes – it’s easily the most popular spare change investment app on the market. After all, why round up your spare change into a savings account when you can get much better rates investing?

How Does Acorns Make Money?

Acorns charges $1 per month to manage your account. They make money based on the huge number of people that use the app.

Is Acorns Free?

The app is free to download and set up. You’ll put money into it by linking a card. Whenever you make a purchase with the card, Acorns will round that purchase up to the nearest dollar and invest the difference for you. You pay $1 per month for this service.

How Much Does Acorns Cost?

The app itself is free to download. You’ll pay $1 per month for Acorns to manage your account.

What Does Acorns Invest In?

There’s a huge range of combined funds that Acorns invests in. These include big companies, small companies, government bonds, and emerging markets.

When Was Acorns Founded?

Acorns the company was founded in 2012 with the goal of making it easy to invest money so you can grow your wealth and improve your finances.

Has Anyone made Money With Acorns?

Yes – it’s actually pretty easy to make money with Acorns. The amount of money you make is related to the amount you invest. The more you invest, the more money you can generate.

Acorns Safety

This section answers questions about Acorns safety and security. These are important issues to consider with any financial product.

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Is Acorns Safe?

Yes, Acorns uses bank-level or better encryption to handle your transactions and financial data. The only risks are the ones that come inherent to any investment.

Is Acorns Legit?

Yes, the company has been around since 2012 and the service works just like advertised. You have a good amount of control over your investments without needing to put effort into daily management.

Is Acorns a Scam?

Acorns is not a scam. The company pays you your dividends from the stocks you invest in and manages your money to help it grow.

Is Acorns FDIC insured?

Acorns is an investment platform, not a bank. That means it isn’t FDIC insured. However, they have Securities Investors Protection Coverage which means you’re insured for up to $500,000 if the company shuts down.

Why Does Acorns Need My Social?

Acorns needs your social security information for tax purposes. They’ll file the appropriate tax paperwork with the IRS and send you a copy.

What Happens if Acorns Goes Out of Business?

If Acorns goes out of business then you’re insured for up to $500,000 through their Securities Investors Protection Coverage.

Can You Withdraw from Acorns?

Yes. You can withdraw money from your account in any denomination you’d like. Withdrawals can take 3-5 business days to process, as Acorns needs to sell your shares to get your money.

Using Acorns

This section answers your questions about using Acorns. It explains how to perform various tasks on the app and with their service.

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How Does Acorns Work?

Acorns works by taking money from your round-ups and contributions and investing them in a series of Vanguard portfolios that are designed to grow with the market.

How to Delete Acorns Account?

You can close your account by logging in to your profile on the website. From there you can go to account status and follow the steps to close your account.

How to Withdraw Money from Acorns?

All you need to do to withdraw money from Acorns is click on the tab for “Withdrawal”. You can specify how much you’d like and Acorns will sell shares to send you your money.

How to Link PayPal to Acorns?

You can link your PayPal account to Acorns from PayPal. Go to the summary page of your account and click Acorns Account.

Why Can’t I Find My Bank on Acorns?

Usually this is because your bank’s listed name is different from what you entered in the search field, for example 5/3 instead of Fifth Third.

How to Take Money Out of Acorns?

You can take money out of Acorns by clicking withdrawal on their website or smartphone app. Enter how much you’d like, and you’ll get your money in 3-5 business days.

How to File Taxes With Acorns?

Acorns will send you your tax information before the beginning of March as required by law. You can just import the forms into your tax preparation software.

Stash FAQ

This group of sections covers the popular investment app Stash. We’ll cover your general questions about Stash, questions about its safety, and questions about how to use it.

General Stash Questions

This section has general questions about the Stash app. Use this section to get a better understanding of what the app is and how it works.

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Is Stash Worth It?

For thousands of people, yes. Stash is a great way to get money by investing as little as $5 to start. You can then add to and manage your investments directly from the app.

What Is Stash Invest?

Stash is an app that lets you get started investing for as little as $5. You can manage your investments and customize your investments.

Does Stash Work?

Yes. Thousands of people have used Stash to start investing. It’s a great way to smart small by buying fractional shares of stocks. That means you can get more out of your investments for less.

Is Stash a Good App?

Yes – the app does exactly what it promises. It lets you buy fractional shares of your favorite stocks so you can start investing without a huge capital requirement.

What Does Stash Charge?

Stash charges $1 per month for balances under $5,000. That means you’re almost certain to make more than it costs using the app.

Is Acorns or Stash Better?

That depends on your goals. Acorns is better if you want to set your preferences and let the app handle everything, whereas Stash allows for more direct involvement on your end.

Is Stash a Broker?

Stash is not a broker. They’re an investment advisor fully registered with the SEC. Their broker is Apex Clearing, a registered broker and member of the SIPC.

How Much Can You Make With Stash?

That all depends on you! Your return will depend on how much you invest and what you choose to invest in. You’ve got all the control when it comes to Stash.

Stash Safety

It’s always important to ensure that any financial service or product is safe. This section answers your questions about Stash safety and security.

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Is Stash Safe?

Yes, stash is safe. They’re an SEC registered investment advisor and use an SIPC registered broker for all of their trades. Stash uses bank-level encryption to handle your personal information.

Is Stash Legit?

Yes, Stash is a legit service. They offer a unique product that allows you to buy fractional shares of companies and ETFs so you can start investing for less.

Is Stash a Scam?

Stash is not a scam. They charge $1 per month for their investment advice and services. You pick your stocks and get rewards based on your investments.

Is the Stash App Secure?

Yes, the Stash App is secure. It uses bank-level encryption technology to help keep your personal financial information safe from malicious attacks.

How Safe Is Stash App?

The Stash app is extremely safe. It’s SEC registered and regulated, and they use an SIPC-member broker for their trades.

Using Stash

This section will cover all of your questions about using Stash, how the service works, and how to manage your account.

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How Does Stash Work?

Stash works by offering fractional shares of stock. That means you can buy a piece of a share and invest the money you have, instead of needing the price of a full share to start investing.

How to Withdraw Money from Stash Invest?

You can withdraw money from Stash Invest by selling the shares you’ve accumulated in the app. Once you sell your shares, the SEC holds your money for 2 days before its released.

How to Delete Stash Account?

You can close your Stash account by clicking this link. Log into your account and follow the instructions. Any remaining shares you own will be sold and you’ll get a deposit for their value.

How to Use Stash App?

It’s easy to use the Stash app. All you need to do is download the app and link a bank account. From there, follow the instructions to start investing.

How to Sell Investments on Stash?

You can sell your investments on Stash by going to your account and going to your portfolio. From there you’ll have the option to sell your investment.

How to Make Money on Stash?

You can make money on Stash the same way you’d make money on any kind of investment. Invest wisely and the value of your investment will grow.

How to Change Stash Bank Account?

To change your Stash bank account you need to log into your profile. Then go to the account section. Select bank account and then pick change bank account.

When Does Stash Pay Dividends?

Dividends are distributed according to the schedule of each specific fund. You can find out more by selecting the fund and choosing dividend schedule.

How to Invest With Stash?

You can invest with Stash by downloading the app and creating an account. From there, you can follow the instructions to start investing for as little as $5.

What Should I Invest in on Stash?

That depends on your choices! Stash acts as an investment advisor, and when you create an account they’ll ask you some basic questions. They’ll use your answers to these questions to offer suggestions on investing for you.

How Often Does Stash Pay Dividends?

Stash pays dividends according to each individual investment’s dividend schedule. You can find more about the schedule by selecting the investment in the app.

How to Change Bank Account on Stash?

You can change your bank account on Stash by logging into your profile and picking account. Then, select bank account and change bank account.

Robinhood FAQ

Robinhood is a commission-free trading app that lets you take charge of your investments. This group of sections will answer general Robinhood questions, questions about its safety, and questions about how to use the app.

General Robinhood Questions

This section answers general questions about Robinhood. Use this section to get the information you need to make smart investment decisions.

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How Does Robinhood Make Money?

Robinhood makes money three different ways – first is their monthly margin trading service Robinhood gold. They also make money on interest from your investments, and from rebates from market markers.

What Is Robinhood App?

The Robinhood app is a unique app that offers commission free-trading and investments for regular people. You can invest in a wide range of choices, including options, stocks, and ETFs.

What Is Robinhood Gold?

Robinhood Gold is a margin-trading service offered by Robinhood. It costs $6 a month and expands your power to trade.

How Is Robinhood Free?

Robinhood is free because they make money from their Robinhood Gold service, interest on your investments, and rebates from market markers.

How Much Is Robinhood Gold?

Robinhood Gold costs $6 per month. This gives you access to margin trading, dramatically enhancing your power when it comes to making trades.

Is Robinhood Gold Worth It?

For many people yes. It can be hard to find a margin trading service, and most services that allow margin trading cost far more than $6 per month. If you want to trade on margin, then Robinhood Gold is a good choice.

How Does Robinhood Gold Work?

Robinhood Gold lets you buy on margin – that means Robinhood will lend you money to buy stocks, allowing you greater leverage. You can also withdraw money for spending without selling your assets.

When Will Robinhood Have Crypto?

Robinhood already has cryptocurrency investments in 29 states. You can get a complete list of the states by clicking on this link.

Who Owns Robinhood App?

The Robinhood app is a wholly owned subsidiary of Robinhood Markets. It was set up in part with support from the crypto-trading platform Coinbase.

Robinhood Safety

This section answers all of the questions you have about Robinhood safety and security, which are always important questions with any financial service.

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Is Robinhood Safe?

Yes, Robinhood is safe. They explain how all of their investment options work and give you notifications regarding your account. They use bank-level encryption technology and all accounts are SIPC insured up to $250,000.

Is Robinhood Legit?

Yes, Robinhood is legit. They’re SIPC insured up to $250,000. That means you’re covered up to that amount if the company goes out of business.

Is Robinhood FDIC Insured?

No, Robinhood isn’t a bank, so they wouldn’t be covered by the FDIC. Instead, they’re covered under the SIPC up to $250,000 per account.

Using Robinhood

This section answers all of your questions about how to use Robinhood. Use this information to make investments with the app and grow your wealth.

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How to Use Robinhood?

You can use Robinhood by downloading the app and creating an account. You can then pick an investment to make and execute it without any processing fees.

How Does Robinhood Work?

Robinhood works by letting you pick the stocks, funds, options, and cryptocurrencies you want to invest in. Then it processes the investment at no charge.

How to Trade Options on Robinhood?

First tap the magnifying glass on the top right-hand corner of the screen. Search the stock you want to trade, tap it, select trade, and then select trade options.

How to Make Money on Robinhood?

You can make money on Robinhood by making smart investments. You can trade options, ETFs, stocks, mutual funds and more.

How to Close Robinhood Account?

Log in to your Robinhood account. Click on help and then My Account. Finally, choose “Close my account” and follow the instructions on screen.

How to Withdraw Money from Robinhood?

You can withdraw money from Robinhood by selecting your account after logging in.

How to Get Robinhood Instant?

You can get Robinhood Instant by opening the app and going to your account. From there, select upgrade to choose Robinhood Instant or Robinhood Gold.

Can You Short on Robinhood?

You can’t currently short on Robinhood. However, you can buy options, which gives you another way to make money on your short prediction.

How to Make Money With Robinhood App?

The Robinhood app is just a trading service, so you make money on it the same way you’d make money with any other investment platform – buying and selling smart investments at the right time.

How to Sell Stocks on Robinhood?

First go to the stock’s detail page in your account. From there, you’ll see an option to sell in the order window. Enter the number of shares you want to sell. Click review and then confirm your order.

Can You Day Trade on Robinhood?

Robinhood limits you to 3 day trades in a 5-day trading period unless you have a Robinhood Gold or Instant account with at least $25,000 of equity.

How to Find Penny Stocks on Robinhood?

You can find penny stocks on Robinhood by searching for them by name. Once you’ve found the stock you’re looking for, you can trade it just like normal.

How to Transfer Money from Robinhood to Bankrage Account?

In order to transfer money from your Robinhood account into another account you’ll need to withdraw the funds you want to transfer. Once they’ve cleared, you can deposit them in the other account.

Rachel Carey

Rachel Carey

Financial Guru

Rachel is dedicated to helping individuals and families boost their budgets so they can enjoy the lifestyle they deserve. Rachel graduated with a degree in Family and Consumer Sciences. She’s a prolific finance writer, producing tons of articles on different aspects of personal and family budget management.

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