[{"@context":"https:\/\/schema.org\/","@type":"Article","@id":"https:\/\/moneydoneright.com\/passive-income\/stock-investing\/robinhood-review\/#Article","mainEntityOfPage":"https:\/\/moneydoneright.com\/passive-income\/stock-investing\/robinhood-review\/","headline":"Robinhood Review 2025: Free Trades (But That’s Not Special Anymore)","name":"Robinhood Review 2025: Free Trades (But That’s Not Special Anymore)","description":"The Robinhood app might not steal from the rich to give to the poor,...","datePublished":"2020-01-16","dateModified":"2025-03-07","author":{"@type":"Person","@id":"https:\/\/moneydoneright.com\/author\/logan-allec\/#Person","name":"Logan Allec, CPA","url":"https:\/\/moneydoneright.com\/author\/logan-allec\/","identifier":4,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6e74dd0453a5871d1dcfde6d40d9494765ca8bfdb01927cefee4564d4bee9075?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Money Done Right","logo":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/Money-Done-Right-Personal-Finance-and-Investing-Blog.png","width":488,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/moneydoneright.com\/wp-content\/uploads\/2019\/10\/robinhood-review.jpg","url":"https:\/\/moneydoneright.com\/wp-content\/uploads\/2019\/10\/robinhood-review.jpg","height":960,"width":1440},"url":"https:\/\/moneydoneright.com\/passive-income\/stock-investing\/robinhood-review\/","video":{"@context":"http:\/\/schema.org\/","@type":"VideoObject","@id":"https:\/\/www.youtube.com\/watch?v=El0wG9FMuyk#VideoObject","contentUrl":"https:\/\/www.youtube.com\/watch?v=El0wG9FMuyk","name":"Robinhood Review + COMPLETE Step-By-Step Tutorial + Pros and Cons","description":"As someone who's used Robinhood for over six years now, I created this Robinhood review video to share with you my full thoughts on the Robinhood app.  In this video I give you a step-by-step walkthrough of the Robinhood app -- it's basically a crash course in Robinhood investing for beginners!  I show you how to set up your Robinhood app, how to buy stock in Robinhood, how to buy an ETF in Robinhood, how to buy bitcoin and other cryptocurrency in Robinhood, and more!  And of course at the end of this 2021 Robinhood review, I share with you what I believe to be the most important Robinhood pros and cons, so be sure to stick around for that!\n\n\u27a1\ufe0f Free Robinhood Stock: https:\/\/moneydoneright.com\/robinhood\/\n\u27a1\ufe0f Free $10 Worth of Bitcoin: https:\/\/moneydoneright.com\/coinbase\/\n\nCool Stuff:\n\ud83c\udfe1 Free Mortgage Refi Rates: https:\/\/moneydoneright.com\/credit-karma-home-mortgage\/\n\u26b0\ufe0f Free Life Insurance Quotes: https:\/\/moneydoneright.com\/quotacy-life\/\n\ud83d\udcb5 Free Personal Loan Quotes: https:\/\/moneydoneright.com\/fiona\n\ud83d\udcbb Get Cash Back on Online Shopping: https:\/\/moneydoneright.com\/rakuten\/\n\ud83d\uded2 Get Cash Back on Groceries: https:\/\/moneydoneright.com\/ibotta\n\nVideos:\n\ud83d\udc76 Investing For Beginners: https:\/\/youtu.be\/oAd4Jfzjpq0\n\ud83d\ude80 Review of My Favorite Stock Broker (M1 Finance): https:\/\/youtu.be\/XNMhp9xeNq8\n\ud83d\udcc8 11 Places to Get Free Stocks: https:\/\/youtu.be\/g2PNE74eyks\n\u26fd Get Cash Back on Gas: https:\/\/youtu.be\/Uw9Wb-tIl1A\n\ud83d\udcbb My TurboTax Review 2021: https:\/\/youtu.be\/bx_G-jzAhhk\n\ud83d\udcb0 Free Millionaire Math Webinar: https:\/\/loganallec.com\/\n\ud83d\udc6a Our Family Vlog: https:\/\/youtube.com\/TheAllecFamily\n\nPrograms (Use Coupon Code YOUTUBE for 50% Off!)\n\ud83c\udf93 Prosper: https:\/\/www.loganeducation.com\/offers\/FUmjEuPB\/checkout\n\nTable of Contents:\n0:00 Robinhood Review\n1:21 Robinhood Free Stock\n1:51 Robinhood Desktop and Mobile\n2:04 Robinhood Set-Up\n2:44 Robinhood Investing Screen\n3:34 Robinhood Cash Management and Debit Card\n5:23 How to Buy Stocks in Robinhood Walkthrough\n6:53 How to Buy Cryptocurrency in Robinhood Walkthrough and Warning\n10:09 How to Buy an ETF in Robinhood Walkthrough\n10:44 Setting Up Recurring Investments in Robinhood\n11:50 Robinhood Notifications\n12:18 Robinhood Portfolio Allocation\n13:27 Robinhood Stock Profiles\n13:53 Robinhood Account Settings\n14:31 How to Reinvest Dividends in Robinhood\n14:47 Other Robinhood Settings\n14:54 Moving Money In and Out of Robinhood\n15:11 Adding Your Bank Account to Robinhood\n16:38 Robinhood Paycheck Direct Deposit\n16:51 Robinhood Automatic Deposits and Bill Pay\n17:08 Robinhood Statements and Tax Documents\n17:18 More Robinhood Settings\n17:35 Robinhood Customer Support\n18:01 Robinhood Gold\n20:14 Robinhood Margin Investing\n20:47 Robinhood Level 2 Market Data: Bid and Ask Prices\n22:31 Robinhood Referral Program\n23:24 Robinhood Pros and Cons\n26:46 Should You Use Robinhood?\n\nAdvertiser Disclosure:\nThis video may contain links through which we are compensated when you click on or are approved for offers. The information in this video was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities.\n\n#robinhood #investing #stocks","thumbnailUrl":["https:\/\/i.ytimg.com\/vi\/El0wG9FMuyk\/default.jpg","https:\/\/i.ytimg.com\/vi\/El0wG9FMuyk\/mqdefault.jpg","https:\/\/i.ytimg.com\/vi\/El0wG9FMuyk\/hqdefault.jpg","https:\/\/i.ytimg.com\/vi\/El0wG9FMuyk\/sddefault.jpg","https:\/\/i.ytimg.com\/vi\/El0wG9FMuyk\/maxresdefault.jpg"],"uploadDate":"2021-03-25T18:13:51+00:00","duration":"PT28M30S","embedUrl":"https:\/\/www.youtube.com\/embed\/El0wG9FMuyk","publisher":{"@type":"Organization","@id":"https:\/\/www.youtube.com\/channel\/UCQ9WUXlSuLlbi5BLkgtEUEA#Organization","url":"https:\/\/www.youtube.com\/channel\/UCQ9WUXlSuLlbi5BLkgtEUEA","name":"Logan Allec","description":"Logan Allec is a CPA and the founder of Choice Tax Relief, which specializes in helping people with their IRS and state tax debt.","logo":{"url":"https:\/\/yt3.ggpht.com\/43_VKqrbO06RGMcxfdQbDXosrkVRq1yf5QgSQEiR4ILUGWV9fJtTh0o2ftYMYqVo6PwnEOPRdg=s800-c-k-c0x00ffffff-no-rj","width":800,"height":800,"@type":"ImageObject","@id":"https:\/\/www.youtube.com\/watch?v=El0wG9FMuyk#VideoObject_publisher_logo_ImageObject"}},"potentialAction":{"@type":"SeekToAction","@id":"https:\/\/www.youtube.com\/watch?v=El0wG9FMuyk#VideoObject_potentialAction","target":"https:\/\/www.youtube.com\/watch?v=El0wG9FMuyk&t={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"},"interactionStatistic":[[{"@type":"InteractionCounter","@id":"https:\/\/www.youtube.com\/watch?v=El0wG9FMuyk#VideoObject_interactionStatistic_WatchAction","interactionType":{"@type":"WatchAction"},"userInteractionCount":4803}],{"@type":"InteractionCounter","@id":"https:\/\/www.youtube.com\/watch?v=El0wG9FMuyk#VideoObject_interactionStatistic_LikeAction","interactionType":{"@type":"LikeAction"},"userInteractionCount":201}]},"about":["Stocks"],"wordCount":1865,"keywords":["youtube","schema"],"articleBody":"The Robinhood app might not steal from the rich to give to the poor, but it has certainly struck an arrow through the heart of the investing industry. Let’s find out what it’s all about in this Robinhood review.Table of ContentsToggleWhat Is the Robinhood App?How Does Robinhood Work?Robinhood GoldIs Robinhood Totally Fee-Free?Robinhood Review: ProsRobinhood Review: ConsRobinhood Review: How Does It Compare?How to Open a Robinhood AccountWho Is Robinhood Best For?What Is the Robinhood App?Robinhood is a brokerage service that allows users to invest in a range of products. Users can trade stocks, options, ETFs, and even cryptocurrencies without paying any fees or commissions.The app also claims that its platforms are intuitive for investing newbies and trading experts alike. There’s both web and mobile trading, along with user-friendly features and tools.Robinhood sprang onto the scene in 2014. It was revolutionary — free trades, zero minimums, and trendy features such as cryptocurrency trading.The app quickly became one of the most popular apps for trading among millennials. And it was likely a factor that led to many online brokerages eliminating commissions on trades in October 2019.So now that Robinhood is one of several free brokers, how does it stack up?If you\u2019d like to watch a review of Robinhood, check out my YouTube video below!https:\/\/youtu.be\/El0wG9FMuykHow Does Robinhood Work?Once you sign up for a new account, you’ll get access to features like extended-hours trading and instant deposits. In other words, you don\u2019t have to wait for any incoming funds to process before you buy or sell stocks up to $1,000.To make a deposit, all you need to do is to link a checking or savings account (Robinhood recommends a checking account). Once that\u2019s successful, you can start transferring money — up to $1,000 per business day — into your account by tapping the \u201cTransfer to Robinhood\u201d option in the app. You can also pre-schedule automatic transfers.Robinhood offers customers more than 5,000 stocks and ETFs on U.S. exchanges to choose from. There are also more than 250 global stocks, as well as cryptocurrency and options trades. The app also provides users with educational features to help them get started with trading. These include market data insights, creating watchlists, candlestick charts, and company report cards.If you\u2019re reading up on particular stocks, Robinhood has a feature that lets you look at the most popular stocks based on what other users are buying.Robinhood GoldIf you want to take your investing to the next level, there\u2019s Robinhood Gold. With this higher tier of membership, you’ll receive an upgraded set of data, strategies, and tools to help you earn more wealth. Plus, Gold will let you instantly deposit up to $50,000 per business day.Robinhood Gold gives you access to professional research such as reports from Morningstar and Level II data from Nasdaq.Investors with Gold memberships also get access to investing on margin, meaning you can borrow money from Robinhood to invest in stocks. As with any type of investing, there are definitely risks involved with margin trading, so make sure you do your research before proceeding.Is Robinhood Totally Fee-Free?Even though Robinhood doesn\u2019t charge any commissions, you still need to pay some fees.Granted, these fees don’t go to the platform. The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) charges these fees whenever you sell a stock:SEC Fee: $20.70 for every $1 million of principal, founded to the closest penny.FINRA Trading Activity Fee (TAF): $.000119 per share rounded up to the closest penny. It won\u2019t be more than $5.95.Robinhood doesn\u2019t charge any fees for incoming transfers, but there may be fees for outgoing bank and wire transfers.As for Robinhood Gold, there is a $5 monthly fee to access its premium features for your first $1,000 of margin. Any more than that and you\u2019ll need to pay 7.5% annual interest based on how much you use over $1,000. If you’re on the fence about a Gold membership, the company gives you a 30-day trail to try it for free.Robinhood Review: ProsThere’s a lot that’s appealing about Robinhood:Free Trading: Who doesn’t love free stuff? You don\u2019t need to pay any commission fees for cryptocurrency, stocks, ETFs, and options.Robinhood also launched its own clearing broker system, meaning the app has reduced many of its other service account fees. Other competitors may charge for things like broker-assisted trades, but Robinhood doesn\u2019t.Instant Access to Funds: Investors who\u2019ve tried to invest with other brokerages before can tell you that it can take a few days to get money into the account before being able to invest it. That\u2019s why Robinhood\u2019s instant account feature is so appealing.Once you move funds into your trading account, you can start using the money right away \u2014 up to $1,000 in deposits. The rest of your money will arrive within four to five days after you initiate a transfer.Intuitive Mobile App: Regular smartphone users will rejoice knowing that they can make trades right from their phone.Signing up for an account can take minutes, and you\u2019ll be able to instantly verify your information with most major banks. The app itself is also sleek and minimal \u2014 once you understand where to find features, it\u2019s fairly simple to find what you\u2019re looking for. Anytime you\u2019re confused, you can use the Robinhood app search bar at the top of the screen.Users can easily pull up information on a stock \u2014 including dividend yield and market cap \u2014 and other types of investments. The app also provides a newsfeed. Plus, with just a simple scroll, you can buy and sell investments.Of course, you can use your phone to check up on your portfolio and access the knowledge base if you need help troubleshooting.Ability to Trade on Margin: Robinhood Gold is an excellent feature if you\u2019re interested in trading on margin. Opting into this services means you\u2019ll need to pay a flat fee starting at $5, but it could be worth it, depending on your goals. Remember, margin trading is risky because you\u2019re borrowing money to invest. In other words, you could lose more than you\u2019ve invested.Robinhood Review: ConsOf course, there are drawbacks to just about any investing product.Research Offerings: While Robinhood does offer some investing tools, it\u2019s best for those who are beginners, rather than experienced investors. If you fall into the latter category, you may be turned off by the bare-bones offerings.However, you can use Robinhood to simply execute your trades and find your research tools elsewhere. Or you can sign up for a paid Robinhood Gold app.Limited Account Types: You\u2019re not going to find all the trading options that other full-service brokerages offer. Sure, you’ll get some beginner-friendly trades such ETFs, but you won’t be able to trade bonds or mutual funds.In addition, Robinhood doesn\u2019t offer tax-advantaged accounts such as IRAs. You\u2019ll need to look elsewhere if you want to invest in a retirement account.Lack of Customer Service Options: Robinhood has a very well-organized website featuring a robust help center to help answer common questions. However, if you\u2019re the type who likes to get an immediate response from a person, you\u2019re out of luck. There are no phone numbers to call or live chat boxes to open.Transfer Fees: Robinhood charges outgoing wire and transfer fees, so if you\u2019re a very active investor, you could end up paying quite a bit. If you\u2019re an investor who wants to buy and hold for a while, Robinhood may still be a good option for you.Robinhood Review: How Does It Compare?It used to be that Robinhood’s defining feature was its lack of commissions. However, with brokers from Charles Schwab to Ally Invest now offering commission-free trading, Robinhood is no longer an anomaly.Experienced traders will find Robinhood’s tools and research a bit sparse. That’s especially the case when you compare it to the likes of E*TRADE, which has eliminated commissions and features the award-winning thinkorswim platform.Meanwhile, the beginning investor will find plenty to help them on their way at Ally Invest… plus access to Ally Bank, one of the top online-only banks. Ally can become your one-stop shop for investing, whereas Robinhood is strictly for trading.How to Open a Robinhood AccountIf you want to try out Robinhood, right now is a great time. Use this promo link to sign up and receive a free stock.To open a trading account at Robinhood, you\u2019ll need to meet the eligibility requirements:Be at least 18 years oldBe a U.S. citizen or permanent resident or hold a valid U.S. visaHave a legal U.S. residential addressHave a valid Social Security numberIn some instances, Robinhood may require you to send in additional documents to verify your identity. In that case, you may need to wait up to seven days for your account to be approved. To send documents, you can do so by taking a photo of it in the app or by uploading a document using a secure link Robinhood sends you.Once you’re approved, you can fund your account by linking it to a U.S. bank account. All you need to do is navigate to \u201cadd new account\u201d within the linked accounts section and enter your bank account details.You may be able to get instant verification if you use one of Robinhood\u2019s supported banks or verify your account manually. In that case, Robinhood will initiate two small deposits to your bank account and you\u2019ll confirm those amounts once you’ve receive them. It typically takes up to 48 hours for those deposits to show up.That\u2019s it! Now you can browse investments, do some preliminary research, and start buying securities. Remember, your first $1,000 is available instantly, so if you want to invest more, you\u2019ll need to wait until the rest of your money is processed. This may take a few days.Who Is Robinhood Best For?Robinhood is best for new investors who are interested in opening an individual taxable brokerage account and want to save some money trading. It’s also good for anyone who wants to trade cryptocurrencies for free.Considering the margin trading options are pretty straightforward, more experienced investors who are frugal minded will like the flat fee for Robinhood Gold and the lower margin balance amounts compared to other brokerages.Savvy smartphone users will also love Robinhood since it offers a simple and robust app experience. The research options are tailored to beginner investors. If that\u2019s you, you won\u2019t be put off by the lack of other research options. Unless you\u2019re looking for much more support like in-person or telephone customer service, Robinhood can perfectly suit your needs.Will you give the Robinhood trading app a try? Remember, if you use this promo link, you’ll receive a free stock."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Passive Income","item":"https:\/\/moneydoneright.com\/passive-income\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"Stock Investing","item":"https:\/\/moneydoneright.com\/passive-income\/\/stock-investing\/#breadcrumbitem"},{"@type":"ListItem","position":3,"name":"Robinhood Review 2025: Free Trades (But That’s Not Special Anymore)","item":"https:\/\/moneydoneright.com\/passive-income\/stock-investing\/robinhood-review\/#breadcrumbitem"}]}]