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Robinhood
apps.apple.comSummary
Robinhood is a financial services platform primarily focused on commission-free investing in stocks, ETFs, and cryptocurrencies. It provides tools for trading, portfolio management, and offers a premium 'Gold' membership with additional benefits like interest on uninvested cash and IRA matching. Robinhood also offers a credit card and a crypto wallet.
Feature Matches3/12
See all3/12
Must Have
2 of 5
Commission-Free Stock Trading
Bitcoin Trading
Instant P2P Transfers
Prepaid Debit Card (Cash App Card)
Early Direct Deposit
Other
1 of 7
Fraud Monitoring & Security
High-Yield Savings
Round-Up Savings
Pay Over Time (Afterpay)
Instant Discounts & Offers
Customizable Card Designs
ATM Access & Fee Reimbursement
PricingFreemium
See allFreemium
Robinhood Gold
$5.00 monthly
- Earn 4% APY on uninvested cash (no cap)
- Earn a 3% retirement IRA match
- Get Instant Deposits up to $50,000
- First $1K of margin investing (if eligible)
- Zero management fees on expert-managed portfolios (for amounts over $100K)
- Access to Robinhood Gold Card (no annual fee for Gold members, 3% cash back across the board, 5% cash back on travel booked through portal, no foreign transaction fees, virtual cards, add cardholders)
- 3% IRA match requires subscription for 1 year after contribution to keep full match; funds must be kept for at least 5 years to avoid potential Early IRA Match Removal Fee
- Instant Deposits may be limited for trades involving volatile assets or derivatives
- Not all investors will be eligible to trade on Margin; additional interest charges may apply depending on the amount of margin used
- Robinhood Gold Card is subject to credit approval and underwriting
Rationale
Robinhood is a strong match for the investing features, offering commission-free stock and ETF trading, as well as Bitcoin and other cryptocurrency trading. It also emphasizes security and fraud monitoring. However, it does not appear to offer direct peer-to-peer transfers in the same way Cash App does, nor does it explicitly mention early direct deposit or a general-purpose prepaid debit card for everyday spending (it offers a credit card and a cash card, but not a prepaid debit card in the same vein as Cash App's primary offering).
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See allBest alternatives to [Product] in 2024?
Reddit·tech_enthusiast·2d ago·+142
I've been using Alternative A for 6 months now and it's been fantastic. The pricing is much better and the features are actually more robust than what [Product] offers.
Show HN: We built a better [Product]
Hacker News·startup_founder·5d ago·+89
After struggling with [Product]'s limitations, we decided to build our own solution.
It handles edge cases much better and the API is actually documented properly.
Check it out at our site.
[Product] vs Competitor B - which one should I choose?
Reddit·confused_buyer·Oct 14·+67
Honestly, after trying both, Competitor B wins hands down. Better customer support, cleaner interface, and they don't nickel and dime you for every feature.
Why we migrated away from [Product]
Hacker News·cto_mike·Oct 11·+234
The breaking point was when they changed their API without notice. We lost 3 days of productivity. Solution C has been rock solid for us since we switched.