I’ve been using Robinhood to trade stocks for free and it was probably the best decision i could have made as a millennial graduating college. I always wanted to get into the stock investment world when I was younger thinking it would be a great way to turn a little cash into a pot of gold.
When I opened up a TD Ameritrade account a few years ago I was so excited to finally start trading. I didn’t have a lot of money to invest so I had to look at smaller stocks but then I had to think about the $9.99 commission that TD took on each trade. Now my $100 initial deposit turned into $90 with a single trade and I quickly realized that the likelihood of me earning the $9.99 commission back in the near future was very slim. So I started looking for a different trade platform that didn’t charge commissions or at least charged less.
Eventually I came across an add for Robinhood. At the time it was just a sign up list for when the app was ready to be released. But what made me sign up for Robinhood was the fact that they charged no commissions on trades, everything was essentially free.
When I finally got the invite to join and start trading on Robinhood about two years ago I was very excited. I started with an initial deposit of $50 and instantly started buying and selling stocks. Unfortunately $50 can only get you so far especially when deposits take three days to clear. Luckily recently Robinhood has come out with their Robinhood Instant service that allows your money to be instantly available in your Robinhood account without the three day grace period.
I went from $50 initial deposit to around $480 current balance. While I keep waiting for an appropriate time to withdraw the rest of my money from TD with the least loss.
I can’t wait to receive my invite to Robinhood Instant so I can start acting on investment news sooner rather than later and loosing out on making a few extra dollars because at this point every little bit counts.
I have shared my referral link to sign up for Robinhood if you haven’t yet. The referral link simply pushes me further ahead in line for Robinhood Instant which would be awesome but really I think everybody should be using Robinhood for investments because why pay someone for something you are doing and taking the financial risk for.