The Robinhood Crypto service lets you trade an array of digital currencies such as bitcoin, dogecoin, and ethereum. This platform's commission-free rule applies to cryptocurrencies as well. Robinhood offers options risk disclosures on its website. It's worth pointing out, though, that options investing carries more risk than stock and ETFs. Many brokers charge under $1 per options contract, and some platforms use tiered pricing structures that charge lower fees for more active traders and higher fees for less active traders.īut with Robinhood, you'll incur no such fees. Robinhood's commission-free option trading comes with a notable perk: no per-contract fees. You'll also get a free stock whenever you make successful referrals. And you'll get one share of free stock when you open an account. Plus, Robinhood's web platform and mobile offerings are also straightforward and easy to navigate. This means that you can purchase portions of stock in companies without paying the full share price. The brokerage has no minimum account size requirements for most of its investments, but you'll have to pay minimum opening deposits for its fractional shares and margin trading offerings (you'll also need at least $25,000 for pattern day trading.) Robinhood is best for active investors interested in placing commission-free trades in stocks, options, ETFs, and cryptocurrencies. Ways to invest with Robinhood Stocks and funds If you like the sound of active trading, though, and don't mind doing a bit of your own research on your investments, Robinhood's low fees and commission-free securities could be a good fit for you. However, Fidelity offers more account types and investments than both platforms. But you'll have a wider range of investment options at Fidelity and SoFi than you will with Robinhood.īoth SoFi and Robinhood offer stocks, ETFs, options, and cryptocurrencies, but, unlike Robinhood, SoFi offers IRAs and automated investing. Robinhood, Fidelity, and SoFi all offer commission-free trading on multiple investment types. Stocks, ETFs, options, mutual funds, bonds, CDs, annuities, and IPOs Stocks, ETFs, options, cryptocurrencies, IPOs, and ADRs $0 ($1 for fractional shares $2,000 for Robinhood Gold)Ġ% (up to 0.35% for automated investment advice)
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