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Robinhood
play.google.comSummary
Robinhood is a financial services company that provides a platform for commission-free trading of stocks, options, ETFs, and cryptocurrencies. It offers various investment tools, premium services like Robinhood Gold, and aims to make investing accessible to a broad audience.
Feature Matches3/12
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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)
- Must enroll in the Brokerage Cash Sweep program for deposits to earn interest
- Must be subscribed to Gold for 1 year after your contribution to keep the full 3% match
- Funds that earned the match must be kept in the account for at least 5 years to avoid a potential Early IRA Match Removal Fee
- Bigger Instant Deposits are only available to customers in good standing and may be limited for trades involving volatile assets or derivatives
- Not all investors will be eligible to trade on Margin. Margin investing involves the risk of greater investment losses. Additional interest charges may apply depending on the amount of margin used
Rationale
Robinhood is primarily an investment platform offering commission-free trading for stocks, options, ETFs, and cryptocurrencies like Bitcoin. It also highlights security features. While it offers some financial services like earning interest on uninvested cash and instant deposits, it does not explicitly offer peer-to-peer transfers, a general-purpose prepaid debit card, or early direct deposit in the same manner as Cash App. Its focus is more on investing rather than a comprehensive mobile banking solution.
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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.