The Robinhood Investing brokerage platform has already been established as one of the most competitive and innovative investing apps in the industry. 

A long time has passed since the whole Gamestop incident took place, and inevitably competition has increased. However, Robinhood has developed a solid brand and has an especial appeal with younger, more tech savvy investors. 

Its clean design and focus on the basics is still unparalleled, and the broker has recently added a new cash management feature, along with a recurring investment one. 

One of the things people are the most attracted to in the Robinhood Investing brokerage platform are the low cash requirements. They charge zero to no fees and have no balance requirements to open an account.

Here’s a list with some key points about the Robinhood Investing brokerage platform.

The Robinhood Investing brokerage platform is primarily an app, but you can also use its web-based platform which looks and feels very similar. 

Buying and selling financial assets is as easy as pushing a button which literally follows you wherever you go on the app. In fact, the whole app is designed to make trading not only easy, but also fun for users.

The Robinhood app is not aimed at highly qualified investors. Quite the opposite. Not knowing how to read charts, use conditional orders or enter multiple orders simultaneously is no big deal for Robinhood’s users. The platform was designed for simplicity.

The app’s new “Recurring Investments” feature allows you to make automatic investments by simply setting up a date, amount and selecting the kind of financial asset you’d like to invest in. The app also allows you to earn 0.3% APY on the money you haven’t invested. 

One final touch is that the account comes with a debit card, and Robinhood relies on 75,000+ ATM machines in their network in which you pay zero fees.

Now that we have made introductions to the brokerage platform, it is time to have a clear look at some of its pros and cons.

The Robinhood Investing brokerage platform won’t run any credit check on you. The account works pretty much like a regular bank account, so you do have access to a debit card. However they do not offer credit cards, and that’s why they don’t screen new users’ credit scores.

The Robinhood Investing card is a debit card which you get once you have been approved for a Robinhood account. The card works just as a regular debit card would. However, instead of your money coming from a regular bank account, it comes directly from your investment account.

You can opt for both a virtual or physical debit card. You can use it almost anywhere they accept Mastercard, as long as you have enough available cash. This means you won’t be able to make payments with invested money, only with money sitting idle in your account.

Ready to take your first steps towards getting your Robinhood Investing card? Join us in this step-by-step guide.

Once you have downloaded and opened the Robinhood app it’s going to show you a few introductory messages to get you familiar with it.

Hit the sign up button so that you can enter your email address, create a password, enter your first and last name, phone number, date of birth, home address and social security.

Next the app will ask you about your investment experience and employment status. It will also ask you if you are some big shot or related to a big shot in the investment industry. Most likely, you’re not, so just hit “no”.

The app will then show you a review of your application so that you can read it and submit it. Once you’ve submitted it, it should take about two to three business days for you to get a confirmation email that your account has been set up.

To get the Robinhood Investing card, simply click on the card icon on the lower tab of the app, select your card design, and Robinhood will send the card in the shipping address you’ve provided.

On Robinhood’s website, hit the sign up button. The website will take you to a page where you should enter your first and last name, an email, and create a password for your account.

Once you’ve done that, hit continue. On the next page you must enter some contact info such as your phone number and home address, and then hit continue again. Now you will add your Social Security number, date of birth and citizenship.

The website will ask you then how much investment experience you have. Answer it as honestly as possible and hit continue. The website will then offer you the option of enabling options trading once your they approve your account.

It will then ask you for some employment information, and if you’re a top shot or related to a top shot in the financial industry, and then it will show you a review of your application.

Hit submit application, and you’re on your way to financial success!

Stocks aren’t the only way you can invest your money. If done right, real-estate can earn you interesting returns on capital as well as dividends. Click on the link below and find out more.