So, for those of you who read our blog, you may know that we don’t often write about applications, but I have recently encountered one that I am extremely excited about. I rarely run into phone applications that I can’t wait to try, and it is also very rare that I find one that I feel I can’t live without. Don’t get me wrong, I haven’t tried this one yet, but I did go sign up for the waiting list as soon as I heard about it.
Trading on Your Phone, Without Fees!
The reason why I haven’t tried the Robin Hood app is because it was just recently released to iOS, and has yet to be released for Androids. Bummer, I know, but it projected to be in the Play Store in the first half of this year.
You may ask why I am so excited about Robin Hood, and I would my response would include the following: No commission fess, no broker, no fees on minimum account balances, and its done through my phone. How much easier does it get?
Of course the company does have a plan for making money. Right now, the brand charges for the ability to buy stocks on margin, and also is collecting interest on the users’ cash balances. At some point, the company will implement some premium services.
I, personally, am super excited about dipping my toe in the trading water without having to invest an incredible amount of money. Of course, I am going to be a little apprehensive and careful because after all, I am just a computer tech and not a Wall Street genius. Mainly, I am just excited because it gives your average Joe access to some things that he or she may have not looked at before.
Robin Hood is still growing, so you may not have access to certain things that you normally would on another trading site. The company is currently looking into expanding to other types of assets like mutual funds and and options trading.
For now, we can only inform you of the application, but I will update as soon as the app is available through the Google Play Store.
Until then you can visit RobinHood.com for more information.