Robinhood was a legendary character who stole from the rich and gave to the poor. The Robinhood app doesn't exactly work like that, but it does help the little guy by providing stock trades with no fees. They don't even take a commissions! The app is very easy to use and provides a simple interface perfect for new traders and investors.
However, the app is very simple which will leave more advanced investors in the dust. There are no options to invest in mutual funds, or any options for joint investing, so while Robin Hood is probably just perfect for first time investors, it's not for experts.
Pros & Cons
- Great app for new investors
- Simple and easy interface
- No fees, no commissions
- Real time market data
- Advanced investors won’t be interested
- Doesn’t offer anything besides stock trading
- No joint accounts