Robinhood App Review – The Cost of Free Stock Trading - Panda CashBack

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Robinhood App Review The Cost of Free Stock
Trading
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Robinhood App is the world first mobile app that
allow you users to trade stocks with no trade
commission (100 free) has been growing its user
base exponentially sine it launched in 2013, less
than 5 years ago, Robinhood app had valuation as
of last year of 1.3 billion dollar.
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Now, it is important to share that stock trading
fees are not cheap, online trading companies
charge between 4.95 to 7.95 per trade. So being
able to trade with no fees, that is really a big
deal. You can buy penny stocks without paying
money to the middle guy. A cost of a penny stock
would be an actual penny.
Robinhood, is a definitely a smart app, that was
created to cater for Millennials who wouldnt
bother investing in the stock market otherwise. I
installed the app on my phone being skeptical. I
havent invested in the stock market directly, I
believe stock markets are there to crash. Now, i
downloaded the app, it is free, it is legit, and
has no feel, but most importantly, it is user
friendly and easy to use. So, I figured I may as
well give it a go. I linked the app to my bank
account in couple of clicks , transferred 25
from my bank and I was ready to go. Started with
a 5 stock that was active, I bought and sold.
This like wow, by the end of the day I made 1.
Now, I am not expert, I was doing smart guessing
based on historical data (value of the stock over
time ). Now, because the app is so friendly, and
I got so excited, one thing lead to the other by
the end of the week, I was trading 300 on
various stocks. I traded so hard I have days
where I hit the maximum trading power. Now, as I
did that I got to learn the down side of the app.
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Now, as I look deeper on this app, I can tell you
for a fact, the free trading app come at a cost.
The cost come in the shape of less features
compare to other trading platform and here is
what it cost you to use the free trading app
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• Blind Trading This is the biggest down side of
  the app. Trading platforms share with you the
  volume of trading live time as well as what are
  the coming buy and sell order asking price. As
  trading grows on you, these insight help you do
  better prediction of where the stock price is
  heading (up or down). Robinhood, doesnt offer
  that feature.

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You cant Name Your price You heard that right,
you can name your price on a hotel room on
Priceline but not on the app, this is another
down side of the app, you will have to place the
order on the price as you see it. This is a
dangerous game, because by the time you done with
your few swipes to buy or sell, the price may
went sharply app or down, specially with swinging
stocks. Now, the app make it worse because when u
click on review, it can show you a price to buy,
by the time it is done, you end up with a
different price.
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• The App swings is always against users I am
  pretty sure the app is manipulative to its own
  leverage, so lets say the price of a stock is
  4.99 of time you wanna buy, it goes app to 5.04
  and down to 4.94 in few seconds, if you try to
  buy it for 4.99, you will 99 of the time end up
  with something above 5. The app play against
  user in selling (you get the lower end). Now, if
  you buying stock that you will keep that is not
  bad, but if you trying to sell/buy same day, it
  will not play in your favor.

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Robinhood App Verdict
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So, the question, should you bother with this app
? Well, it depends. If you are newbie to stock
market, plan to spend little cash on the app. I
highly recommend it. After all you can start with
as little as 5 buy, by penny stock, and make a
little profit. It is a place to learn and get
started. Now, if you grow out of the app, and
decided to take investing money seriously. Dont
use the Robinhood, and start using something more
profitable even if it is seems expensive, because
if you trading enough cash, the trade commission
can be way lower than the free commission app.
Now, there is one more thing that worth
mentioning about the app, Robinhood about to
launch new feature of free trading cryptography
for free (BitCoin, XRP,LiteCoin, and others) for
free.
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If you are just starting, and decided to download
the app, please use the following link as you
will get free stock as a sign up bonus
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