Robin hood Trading in South Africa
Robin hood Trading has been around since 2013 and is a web brokerage that has successfully raised around $176 million till now. It offers free stock trading for US residents. it’s known for its $0 commission trading and easy-to-use mobile application.
It is regulated by the SEC and may be a registered member of the FINRA (CRD #165998) and therefore the SIPC within the us . The headquarters of the corporate is predicated in Palo Alto in California, us .
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The co-founders of the corporate are Vladimir Tenev and Baiju Bhatt, who have streamlined the merchandise experience. Users can make trades on the mobile app, though its functionality is minimum so as to stay the prices low.
Robin hood Trading Features
Robin hood Trading provides basic stock trading like major public securities and no shorting or OTC/pink sheets. It doesn’t support options like mutual funds, forex trading or trading in futures. It doesn’t offer retirement accounts (IRAs), DRIPs or the normal banking services like saving accounts or current accounts, mortgages, and credit cards like those offered by full-service brokerages.
A few of the features supported by Robin hood Trading among many others are listed below:
Advanced Order Support: It supports market orders, stop limit orders, limit orders and stop orders. a number of the orders are often good ’til canceled (GTC) or good for the day.
Scheduled Deposits: Users can plan automatic transfers on a quarterly, monthly, biweekly, or weekly basis.
Cryptocurrency Trading: Through Robin hood Trading, users can invest in cryptocurrency trading by investing in Bitcoin Cash, Bitcoin, Litecoin, Ethereum and Dogecoin. Users also can keep track of other currencies.
Robin hood Gold
This is an honest option for a lively trader because it upgrades your account to a brokerage account where you’ve got access for purchasing and selling stocks on credit. this is often not advisable for brand spanking new or inexperienced traders. If you’re a beginner who doesn’t even know what a call is, you ought to stick with the free version. the need as per the federal regulations is that you simply must have a $2,000 minimum balance so as to open the Robin hood Gold account.
Is Robin hood Trading Risky?
Even though it’s insured by the SIPC, there’s still a risk that it’s going to not be around for an extended time since it’s a web trading company and a free investment trust . Most such companies don’t do so well.
While Robin hood Trading is in a position to earn money through its Gold accounts and interest on the cash balance of its users, the danger remains there.
- It allows free trades
- It is easy to use
- No fee on ACH transfers
- There is no need for a minimum deposit
- There are not any retirement accounts
- The customer service is poor
- The data is usually delayed, which may be a problem within the fast-paced world of trading
- No bonds or mutual funds are supported
This is an excellent trading option which has no fees on trading. Moreover, it keeps adding new features, which include cryptocurrency trading. albeit it’s not powerful enough to remain as your only trading option if you’re a significant trader, it can still had best as your only stock trading account. it’s going to not be the right solution to all or any your trading needs, but it’s free which makes up for its shortcomings.