Robinhood

Clearing services are provided by Robinhood Securities, LLC, a licensed broker-dealer, and brokerage services are provided by Robinhood Financial LLC, a registered broker-dealer (member SIPC) (member SIPC). Services for cryptocurrencies are provided by Robinhood Crypto, LLC ("RHC") (NMLS ID: 1702840). Robinhood Money, a registered money transmitter, provides the Robinhood Money spending account. A license from Mastercard® International Incorporated allows Sutton Bank, Member FDIC, to issue the Robinhood Cash Card, a prepaid card. Although assets kept in the Robinhood Money spending account and the Robinhood Cash Card account may be eligible for FDIC pass-through insurance, RHY products are not entitled to SIPC coverage (see the Robinhood Cash Card Agreement and the Robinhood Spending Account Agreement).

Options trading has a high level of risk and is not suitable for all clients. Before using any options trading techniques, customers must read and comprehend the Characteristics and Risks of Standardized Options. Transactions involving options are frequently complicated and include the risk of losing the entire investment very quickly. There is an additional risk associated with some complicated options techniques, including the possibility of losses that could be greater than the initial investment.

Exchange of stocks, ETFs, and options without commission refers to $0 commissions for self-directed individual cash or margin brokerage accounts with Robinhood Financial that electronically trade U.S. listed securities and some OTC equities. Remember that additional charges, such as non-commission trading costs, gold subscription fees, wire transfer fees, and paper statement fees, could be incurred.

Pros:

• No account minimum.
• Streamlined interface.
• Cryptocurrency trading.

Cons:

• No mutual funds or bonds.
• Limited customer support.

Founded: April 18, 2013

Revenue: US$1.82 billion (2021)

Website: https://robinhood.com/

NerdWallet rating: 4.6/5.0