A free stock trading app and unicorn fintech startup Robinhood witnessed 10X more net deposits during the pandemic for trading. Due to that, the company has just raised new funding of $280 million in its series F funding bringing its value to $8.3 billion.
Robinhood’s unique features and its usefulness in the trading domain have convinced us to include it in our App of the week column.
The company boasts of having more than 10M accounts in 2020 which was 1M back in 2016.
For research and better decision, The app provides analyst ratings, a list of top movers, earning calendars, and links to earning calls. You can also find candlestick charts available in the mobile app. Users can know their stocks better by seeing the popular stocks, and “People also bought”
One of the best things about the Robinhood stock app is that it allows you to purchase fractional shares. Sometimes In some cases, it happens that some investors may not be able to purchase one share of big companies like Google or Amazon. Fraction shares is a way to purchase a portion of the particular share. It is really good and helps you to have a diverse portfolio.
Customers are verified instantly in less than one hour and they can start investing in stocks of different companies. What’s appealing is that you can invest as low as $1 in any stock.
RobinHood allows the investors to sort and find companies through filters like firms with women CEOs, entertainment companies, banking companies, and other things. Additionally, the tab bar at the bottom allows users to access the watch list, portfolio values, transaction history, and account statements. The app allows you to stay informed on the latest news about the current market trends and stock activities. The amazing thing about this app is that it not only provides a trade on stocks, bonds, and ETFs but you can also invest in cryptocurrencies like bitcoin.
| Features | Mobile App (Hours) | Approx Cost |
|---|---|---|
| Dashboard | 26 | $900 |
| Investment Portfolio | 30 | $1,800 |
| Collection of Market Data | 20 | $2,000 |
| Stock Trading Functionality | 9 | $500 |
| Smart Notifications | 10 | $5,500 |
| Watchlist | 24 | $4,580 |
| Fund Transfer | 55 | $9,600 |
| Data Protection | 100 | $9,600 |
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