Latest Version
2024.50.7
December 26, 2024
Robinhood
Finance
Android
0
Free
com.robinhood.android
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More About Robinhood: Investing for All
This application, called Robinhood, allows users to trade stocks, options, and ETFs without paying any commission fees. It also offers the lowest costs on popular cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin. Users can invest as much or as little as they want, but there may be other fees that apply. For an additional $5 per month, users can upgrade to Robinhood Gold and earn 4.25% APY on uninvested cash with no cap. They can also receive a 3% match on their retirement IRA contributions and have access to instant deposits up to $50,000. Additionally, they can receive a margin of up to $1,000 for investing, if eligible. The application also prioritizes security and offers 24/7 live support. Users can chat with a Robinhood associate at any time and use security tools like 2-factor authentication to keep their account safe. However, it is important for users to carefully consider their investment objectives and risks before using this application, as investing always carries some level of risk. They can view the fee schedule on the Robinhood Financial website. To receive the 3% match on retirement IRA contributions, users must be subscribed to Robinhood Gold for at least one year after their contribution. They must also have compensation (wage income) in order to contribute to an IRA. There may be tax consequences for contributing to or withdrawing from retirement accounts, and users should consult with a tax advisor for more information. The Robinhood IRA is available to any U.S. customer with a Robinhood brokerage account in good standing. However, not all investors will be eligible for margin trading, which carries the risk of greater investment losses and additional interest charges. Cryptocurrency trading is also available through Robinhood Crypto, and users should be aware of the risks associated with trading outside of regular market hours. Overall, Robinhood offers a convenient and low-cost way for users to trade stocks, options, ETFs, and cryptocurrencies. However, users should carefully consider their investment goals and risks before using the application.
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