Robinhood Rated 3/5

Robinhood Guide - Read our In Depth 2024 Robinhood Review

This detailed Robinhood review has been researched and fact checked by industry experts with over 30 years of financial experience in Stocks, Commodities, Indices.

Learn more about Robinhood.

Benefits of Trading with Robinhood

Robinhood Review 2024 Quick Summary
💰 Min Deposit No minimum deposit
👱‍♂️ Used By 10,000,000 Robinhood users and traders
📆 Founded 2013
🌍 HQ USA
👮‍♂️ Regulation Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)
🚫 Excluded Countries Robinhood is not available in the following countries : Cuba, Iran, North Korea, Syria, Crimea

Open Robinhood's Website

Your capital is at risk

Learn more about IC Markets.
learn more Learn more about IC Markets.
Losses can exceed deposits

What is Robinhood?

Robinhood are a worldwide financial trading platform and broker. founded in 2013

Over 11 years later Robinhood now serves over 10,000,000 retail investors Stocks trading, Commodities trading, and Indices trading.

Robinhood are a global broker. Robinhood have a head office in USA.

When trading in the financial markets, finding a broker that meets your needs can be very time-consuming.

We will dive deep in this Robinhood review and assess how well the Robinhood platform functions in its role as an international multi asset trading platform for traders in 2024.

Visiting many broker websites, all of which have different language uses. Technical language and terminology can be confusing with brokers like Robinhood. Choosing or shortlisting a trading platform like Robinhood can be time consuming. Choosing a trading platform requires a significant amount of research and analysis. It can be challenging to understand each platform's various features and benefits, especially with a complex trading platform like Robinhood.

As a result, selecting the right trading platform like Robinhood requires a deep understanding of the market, trading strategies, and platform functionality. The task becomes even more daunting when considering the vast number of online brokers like Robinhood available, each with unique features, fees, and regulations.

In such a complex landscape, finding a reliable and trustworthy broker like Robinhood requires thorough due diligence and careful consideration. Some Robinhood trading features can be complex when trading on mobile or using the Robinhood online trading platform. Beginners and inexperienced traders must take the time to learn how to use the Robinhood trading tools properly. In our review of Robinhood we explain the pros and cons. What Robinhood offer, countries Robinhood are available in. Who Robinhood are regulated by and more.

Robinhood Review Screenshot

When it comes to online trading with brokers like Robinhood, carefully review Robinhood as your broker can make or break your success. Choosing the right broker is essential to ensure your Robinhood investments grow and flourish. However, beware of fake and unreliable brokers lurking in the shadows, waiting to take advantage of unsuspecting traders.

You must be diligent and thorough in your Robinhood review selection process to safeguard your hard-earned money. It's crucial to do your due diligence and research the reputation, track record and trust worthyness of Robinhood. You must also ensure the Robinhood broker's profile, trading tools, fees and regulation aligns with your needs and goals.

Remember, Robinhood needs to be your partner in your trading journey.

Our team has endeavored to break down the complex world of trading with Robinhood into easily digestible information in this Robinhood review. We want to ensure you have all the knowledge necessary to use the Robinhood trading tools confidently, from depositing and withdrawing funds to executing trades.

We understand that informed decisions with Robinhood are the key to successful trading, so we've provided this detailed Robinhood review. So, take a seat, grab a cup of coffee, and dive in to learn about Robinhood and how it can benefit you or if Robinhood is not for you.

Online investing with Robinhood can be just as risky as traditional offline investments. Therefore, conducting thorough research on the company you plan to invest with is crucial. If considering trading financial assets with Robinhood, evaluating the Robinhood platform is important. Evaluation includes researching the Robinhood management team, track record, and services.

As a trader, you should feel confident that your financial investments are in good hands with Robinhood. That's why it's essential to understand the Robinhood company policies and practices before making any investment decisions. By doing your due diligence and understanding Robinhood platform, you can make informed investment choices that align with your financial goals. So take the time to research Robinhood thoroughly and make the most of your online investing experience.

We aim to provide you with all the information in this Robinhood review you need to determine if Robinhood is the right fit for you. But we don't stop there - we also offer valuable insights into other great alternatives to Robinhood, so you can make a more informed decision and compare other brokers against Robinhood.

If you want to look at some Robinhood alternatives that might better fit your needs, we list and compare some of the best Robinhood alternatives further down this Robinhood review.

Trading online with Robinhood requires an understanding of what you are doing. It can be challenging and requires significant research and understanding of the Robinhood trading tools and features. You must know what you are doing when trading with Robinhood. That's why we've compiled this detailed Robinhood review with some important information that will hopefully make you more informed when online trading with Robinhood.

Robinhood Review Table of Contents

Robinhood review
Robinhood is a Multi-Assets Trading Platform with over 5000+ Assets

Learn more about Robinhood. Robinhood is a multi asset platform with 5000+ tradable Assets. Assets available on Robinhood include Stocks, Commodities, Indices.

Robinhood trades in multiple financial asset types. A financial asset is any security or asset that has financial value attached, tangible or intangible. This means that Stocks, Commodities, Indices are considered financial assets.

Features of Robinhood

Robinhood review
What you should know

Robinhood offer three ways to trade: Stocks, Commodities, Indices. The assets and products available to you on the Robinhood trading platform depends on the region of the world, you are in and the Robinhood entity you have an account.

With Robinhood you will need a minimum deposit of $0. You can sign up for a demo account to acquaint yourself with Robinhood platform.

Robinhood are able to accommodate various levels of traders whether you are experienced or a beginner.

Are Robinhood safe?

When considering Robinhood for your trading activities, its financial regulatory status in your region is crucial. One of the primary considerations when evaluating a broker, such as Robinhood, is to assess the broker's regulatory status and administrative body. Brokers operating without supervision from a regulatory authority are free to make their own rules, which may pose a risk to investors. Any capital you invest is at risk.

Established in 2013, and in operation for 11 years Robinhood have a head office in USA.

Robinhood is regulated. This means Robinhood are supervised by and is checked for conduct by the Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) regulatory bodies.

Robinhood withdrawal requests will be honoured. Brokers that operate under the supervision of regulatory authorities like Robinhood are subject to strict guidelines that prohibit them from manipulating market prices to their advantage. Regulatory oversight ensures brokers operate with integrity, fairness, and transparency, safeguarding investors' deposits. Robinhood are held accountable for their actions and may face severe consequences if they violate any financial regulations. If you are a client of Robinhood and wish to withdraw funds from your account, you can rest assured that your request will be processed promptly. Robinhood has a reputation for efficient and reliable fund transfers, and adhere to the rules of the financial regulators they are regulated with. When you submit a withdrawal request, Robinhood will verify your account details and process the payment within the stipulated timeframe, usually within a few business days. By partnering with a trustworthy broker like Robinhood, you can enjoy peace of mind and focus on your trading activities. If Robinhood violate any regulatory rules their regulated status could be stripped.

Your capital is at risk

Is my money safe with Robinhood?

All payments made to Robinhood by traders are securely held in a segregated bank account.

Robinhood uses Tier 1 banks for increased security. These banks are deemed the most reliable for client capital due to their strong core capital reserves and ability to withstand losses.

What are Tier 1 banks and why should Robinhood use them?

Robinhood partnering with Tier 1 banks offers reliability, efficient payment processing, reduced counterparty risks, and better protection for client funds. These banks are the most financially stable and secure institutions globally, with robust financial strength and high-quality risk management practices. They hold substantial core capital reserves, making them capable of handling unexpected losses and market volatility without endangering their Robinhood clients' funds.

Robinhood clients can have greater confidence in their financial security when working with a Tier 1 bank because Robinhood are subject to strict regulatory oversight and must adhere to stringent guidelines to maintain its Tier 1 status.

What does it mean to have your funds in Robinhood deposited in a Tier 1 bank?

Depositing funds with Robinhood ensures that your money is held in a secure bank account with sufficient capital to meet your withdrawal requirements, even if Robinhood were to go out of business unexpectedly.

Based on the information presented, it is safe to conclude that Robinhood is a secure and safe platform.

Please be aware that trading in financial assets with Robinhood carries a risk of loss. Robinhood trading risk can occur due to inadequate market research, lack of experience, or failure to use the platform tools. It is common to experience rapid losses when trading financial investments like Stocks, Commodities, Indices due to market volatility. Therefore, you should only risk trading when you understand that your capital is at risk at any time.

Robinhood emphasizes this risk on its platform and provides clear risk warnings - Your capital is at risk. After answering some important questions about Robinhood, let's closely examine its features.

To better understand the Robinhood trading platform, you can create two separate accounts - one with real money and the other a Robinhood demo account. A Robinhood demo account provides a risk-free environment for experimenting with the Robinhood platform's features and trading strategies before risking your actual funds. This approach can help you gain experience and confidence in Robinhood trading decisions.

Open a demo account Visit Robinhood

Your capital is at risk

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

How Robinhood as a Company Compare Against Other Brokers

Broker Robinhood IC Markets Roboforex eToro
Year Established 2013 2007 2009 2007
Head Office USA Australia Belize Cyprus, UK
Regulation Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076
Used By 10,000,000+ Robinhood users 180,000+ IC Markets users 1,000,000+ Roboforex users 30,000,000+ eToro users
Negative balance protection Yes Yes Yes Yes
Guaranteed Stop Loss No No No No
Learn More Visit Robinhood Visit IC Markets Visit Roboforex Visit eToro
Risk Warning Your capital is at risk Losses can exceed deposits Losses can exceed deposits 51% of retail investor accounts lose money when trading CFDs with this provider.

Robinhood review
Robinhood Pros and Cons

What we like about Robinhood

  • Used by over 10,000,000 Robinhood users and traders
  • Established in 2013
  • Regulated by Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)
  • Min. deposit from $0

What we don't like about Robinhood

Robinhood review
Robinhood Regulation and Licensing in more detail

Robinhood is regulated by trusted organizations, providing recourse for any issues. Regulatory bodies protect traders through reimbursement schemes in case of Robinhood going into insolvency. Robinhood compliance with rules and criteria set by regulatory authorities is mandatory for brokerage firms like Robinhood to maintain licenses and operate in certain jurisdictions. Financial regulation and licensing are crucial for creating a secure trading environment for Robinhood traders.

Robinhood is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the brokers' behaviour, and they will take necessary action if things go wrong. Before trading online with a broker like Robinhood you should be sure they're legitimate online agent.

Is Robinhood Global?

Yes, Robinhood is global as Robinhood is available in over 190 countries.

Robinhood is a global trading platform in the sense that it operates in 190 countries including nations in Africa, Asia, Oceania, and Europe. Major countries Robinhood covers include the UK, Germany, South Africa, Thailand, the United States China and Australia. Robinhood has a total of more than 10,000,000 users.

Robinhood review
Robinhood Awards

Robinhood have won numerious industry awards over the 11 years they have been operating as a financial broker. We have listed the most notable awards and mentions for Robinhood below.

  • Google Play Best App of 2015

Robinhood review
Robinhood Fees Explained

  • Robinhood doesn't charge withdrawal fees.
  • Robinhood does not charge a fee for inactive accounts.
  • Robinhood doesn't charge deposit fees. A currency conversion fee may be applied as withdrawals and deposits from Robinhood are conducted in USD. Any other currency will have to be converted to your local currency by your 3rd party payment provider.

Robinhood Costs To Check

Modern brokers like Robinhood provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, Robinhood may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall Robinhood trading profitability.

How Robinhood Fees Compare Against Other Brokers

Broker Robinhood IC Markets Roboforex eToro
Min Deposit 0 200 10 100
Withdrawal Fees No No Yes Yes
Inactivity Fees No No No Yes
Deposit Fees No Varies No No
CFD Commission Fees No Yes No Yes

Robinhood Minimum Deposit

Robinhood does not require a minimum deposit when opening an Robinhood trading account.

In the trading world, brokers like Robinhood, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don't require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features.

Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.

However, it's important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD. Therefore, it's essential to research and compares different brokers to determine which best suits your trading needs and budget.

Robinhood Withdrawal Fees

Robinhood doesn't charge withdrawal fees.

Robinhood Withdrawal rules may vary across different brokers when it comes to transferring funds from your Robinhood or other broker trading account. Each brokerage firm has its specific withdrawal methods. The payment provider associated with Robinhood may have different transfer processing fees and processing times, affecting how long it takes to receive your funds.

In addition, currency conversion fees may apply if the Robinhood withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from Robinhood. Researching and comparing Robinhood withdrawal policies and fees across different brokers is essential before choosing one, especially if you are withdrawing Robinhood funds frequently or dealing with large sums of money. Awareness of these Robinhood fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your Robinhood funds.

For example, Robinhood allows you to withdraw your funds to Credit cards, Bank Transfer, PayPal, Debit cards.

Robinhood Inactivity Fees

Robinhood does not charge a fee for inactive accounts.

When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by Robinhood terms and conditions. It's important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them.

Make sure you're fully aware of all Robinhood fees and services. It's recommended that you check the Robinhood website before signing up. If you decide to close your Robinhood account, it's important to do so with the Robinhood broker customer support and obtain confirmation that no remaining Robinhood fees are due.

Brokers like Robinhood must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.

Certain brokers may levy inactivity fees to recoup the expenses associated with sustaining your account on their trading platforms when there is a shortage of commission fees earned from your trading activities.

Robinhood Deposit Fees

Robinhood does not charge deposit fees. Although bank / 3rd party merchant fees may apply.

Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee.

Depositing funds into your trading account may incur a fee, which could vary depending on the fiat currency used. For instance, depositing funds from a credit card can attract high fees. Additionally, not all brokers accept credit card payments for account funding. It's crucial to review the funding options and associated fees the broker provides before depositing any funds.

Robinhood Commission Fees

Robinhood does not charge commission on CFD instruments.

Brokerage firms like Robinhood may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the Robinhood trading account level held by the trader.

Robinhood may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing Robinhood terms and conditions to understand the commission fees and any other charges that may apply is essential.

Robinhood review
What can you trade with Robinhood?

It's essential to note that the trading instruments offered under the Robinhood brand may vary depending on the customer account holder and country of residence due to regulatory restrictions. Besides, the trading platform the customer selects may also impact the available trading instruments. Therefore, before trading, verify the Robinhood trading instruments available and the regulations governing them based on your account holder, location, and chosen platform.

You can trade a wide variety of instruments with Robinhood over 5000 instruments in fact.

If you want to trade currency pairs on global Forex markets, Robinhood offer over 0 currency pairs.

Robinhood Compared To Other Brokers

Compare Robinhood with IC Markets and Roboforex below.

Your capital is at risk

How Robinhood Trading Options Compare Against Other Brokers

Broker Robinhood IC Markets Roboforex eToro
Instruments Available 5000 2250 100 5000
Platforms Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android MT4, MT5, Mac, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps
FX / Currencies        
Forex pairs offered 0 61 35 50
Major Forex pairs No Yes Yes Yes
Minor Forex pairs No Yes Yes Yes
Exotic Forex pairs No Yes Yes Yes
Cryptocurrencies (availability subject to regulation) Yes Yes No Yes
Commodity CFDs        
Commodities Offered 14 20 21 31
Metals No Yes Yes Yes
Energies No Yes No Yes
Agricultural No Yes No Yes
Indiced & Stock CFDs        
Stocks Offered 5000 2100 0 2042
UK Shares Yes Yes Yes Yes
US Shares Yes Yes Yes Yes
German Shares Yes Yes Yes Yes
Japanese Shares Yes Yes Yes Yes
Risk Warning Visit Robinhood
Your capital is at risk
Visit IC Markets
Losses can exceed deposits
Visit Roboforex
Losses can exceed deposits
Visit eToro
51% of retail investor accounts lose money when trading CFDs with this provider.

Robinhood review
Trading on Robinhood web platforms and other applications

Robinhood provides traders with a modern custom platform that can be accessed through a browser-based web application. If you would rather see a MT4 brokers, or MT5 brokers you can do so here.

Robinhood also offer mobile apps for Android and iOS trading apps help you stay on top of your trades and execute them on the go.

See Robinhood's platforms

Is the Robinhood Trading Platform Secure?

You should take the security of your personal information seriously and check SSL encryption is enabled on the Robinhood trading platform to protect you on PC and mobile Robinhood platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using Robinhood web trading platforms.

Robinhood Trading Platform Options

Robinhood does not offer the MetaTrader 4 (MT4), MetaTrader 5 (MT5) or cTrader trading platforms.

Robinhood offers its custom trading platform developed and tested in-house. The Robinhood trading platform allows traders to track their portfolios and the current markets, locate trade ideas and place trades.

The Robinhood platform allows traders to filter the financial marketplace for trade opportunities that match criteria.

With Robinhood, you can examine opportunities with actionable research and stock evaluations. Get streaming real-time information on the Robinhood platform, including news and quotes. Discover possible trades with the strong charting tools found with Robinhood. Robinhood is available as downloadable applications or online through the cloud. Monitor your orders with Robinhood and receive breaking news in your positions.

Robinhood Trading benefits

  • Robinhood Allows hedging
  • Robinhood Offers STP
  • Robinhood Low min deposit
  • Robinhood Offers Negative Balance Protection

Robinhood Trading Accounts Offered

Below we give an overview of the account types that Robinhood offer. Whatever you are looking to trade, the varying Robinhood account types will be able to provide you with what you need.

  • Robinhood Demo account
  • Robinhood STP account

Can I try Robinhood?

Robinhood provides a demo account that enables individuals to explore trading before investing their funds. By creating a Robinhood practice account, users can gain experience and knowledge of how to trade effectively. Demo trading accounts like the Robinhood demo account can help individuals to make informed decisions before investing their money.

Open a demo Robinhood account to practice and trade.

Your capital is at risk

Robinhood withdrawal and funding methods

It's essential to remember that the payment methods provided by Robinhood vary based on the Robinhood entity and the Robinhood client's country of residence. To view the Robinhood payment options available, you can log into your Robinhood member's area.

Robinhood offers various funding payment methods listed in your Robinhood dashboard if available in your region. To learn more about the Robinhood funding and withdrawal options available in your area, you can explore the Robinhood website.

Robinhood provides several payment methods for funding your Robinhood account. You may utilize any of these deposit options if they are available in your region. Robinhood ensures that users have multiple payment methods to choose from, making it more convenient for verified Robinhood account holders to add funds to their accounts. However, it's important to note that the availability of payment methods may vary depending on the Robinhood user's location. learn more about Robinhood funding and withdrawal methods.

Robinhood Payment Methods

Some Robinhood payment methods are local and are available only to specific regions. Robinhood account holders should check which payment methods are provided in your region.
  • Robinhood accepts Credit cards
  • Robinhood accepts Bank Transfer
  • Robinhood accepts PayPal
  • Robinhood accepts Debit cards
Broker Robinhood IC Markets Roboforex eToro
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal Yes Yes No Yes
Skrill No Yes Yes Yes
Payoneer No No Yes No
Neteller No Yes Yes Yes

*please note available Robinhood and other broker payment methods depend on the clients country of residence.

How can I start trading with Robinhood?

To open a trading account with Robinhood, individuals can sign up on the Robinhood website. Upon completing the signup process, users will receive login details via email, which they can use to access their accounts.

The next step involves submitting identification documents for Robinhood account validation and making a deposit. Once completed, Robinhood users can download the trading platform of their choice.

It's important to note that Robinhood requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps Robinhood maintain a trustworthy financial environment for its 10,000,000 users. Detailed information on the Robinhood trading platforms is available on their website.

Your capital is at risk

Performing trades with Robinhood

When using Robinhood, the minimum trade size is typically varies units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened. The maximum trade requirements on eToro can vary depending on the specific trader and instrument being traded. With STP execution on the Robinhood platform, traders can anticipate tighter spreads and greater transparency when it comes to trade pricing.

Like other brokers, Robinhood margin requirements can differ depending on the traded instrument.

Limiting Your Risk When Trading with Robinhood Negative Balance Protection

Negative balance protection is important for traders using leverage on platforms like Robinhood. In an unfavourable market move, leverage can result in a loss that exceeds the trader's account balance, leaving them with a negative account balance. If a Robinhood trading position does not go in your favour, this is where negative balance protection comes in handy.

Brokers regulated by the Financial Conduct Authority (FCA) must offer negative balance protection as a standard feature. With negative balance protection, Robinhood trading losses are always limited to the current balance of funds in the trader's account.

Even if an Robinhood trader experiences a significant loss, they will never owe more money than what is available in their Robinhood account balance.

It's important for Robinhood traders to understand the potential risks of trading with leverage and to take advantage of features like negative balance protection to mitigate those risks. By doing so, traders can trade with peace of mind, knowing that Robinhood losses are limited to the funds available in your Robinhood account when negative balance protection is in place.

Education Resources at Robinhood

To trade effectively with Robinhood, it's important to have a good understanding of the Robinhood trading tools and the markets. Make sure you make full use of all education tools. Including educational tools with Robinhood and externally.

Robinhood . It's essential to take the time to learn about the financial markets and understand how they move before diving into trading with Robinhood. Familiarizing yourself with the Robinhood trading platform is crucial to use it effectively.

While learning, you can also use global trading times to practice making live buy or sell trades using Robinhood. This hands-on experience can help you gain confidence and become more comfortable with trading.

Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with Robinhood involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.

Learning about the financial markets, trading platforms like Robinhood, and risk management techniques can help you become a more confident and successful trader.

Take an analytical approach to trading with Robinhood. Explore the Robinhood platform and train yourself to think systematically and logically about the markets.

While it may be a new skill set for some, it is what the market requires for success. Developing your trading skills with Robinhood, before live trading.

Customer Support at Robinhood

As part of our Robinhood review, we review customer service options, response times and problem resolution effectiveness on the Robinhood trading platform. The Robinhood trading platform supports multiple languages, which includes English, Deutsch, Nederlands, Espanol, Francais, Italiano, Polski, Srpski, Norsk, Svenska, Cesky, РУССКИЙ, Romana, Turkce, العربية, 中文.

Robinhood Available Support Types

Based on our experience, we have given Robinhood a D grade for customer support. We encountered some slow response times or Robinhood queries that were left unanswered.

Compared to other brokers, Robinhood offers fewer customer support features. They do not provide live chat support, and their phone and email support can also be slow.

email support and supports a limited amount of Languages. Live chat support supports a limited amount of Languages. Phone support supports a limited amount of Languages.

Livechat Support at Robinhood

Our team tested the live chat support of Robinhood and found it to be satisfactory. While we received a response within 25 minutes on most occasions, there were instances where we did not receive a response at all.

In addition, we tested Robinhood support services in various countries and languages and found that Robinhood were able to effectively resolve our customer issues.

Email Support at Robinhood

We tested the email support of Robinhood by sending 25 emails simultaneously, and our experience was mixed. While the answer times were generally excellent, with the fastest response being 3 hours, the slowest response was 6 days. We also encountered some instances where we did not receive any Robinhood response.

The Robinhood team did resolve and answer our queries, but the email support from Robinhood was overall average compared to other brokers we have tested.

Phone Support at Robinhood

We contacted Robinhood via phone and received quick assistance within 10 minutes of our call.

The Robinhood phone support team proved to be helpful and able to resolve our queries and issues over the phone. We also tested the multilingual support provided by Robinhood and found that they could assist us in various languages.

While we found the Robinhood phone support satisfactory, there is room for improvement in response time.

See how Robinhood Support Compares Against Other Brokers

Broker Robinhood IC Markets Roboforex eToro
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Deutsch, Nederlands, Espanol, Francais, Italiano, Polski, Srpski, Norsk, Svenska, Cesky, РУССКИЙ, Romana, Turkce, العربية, 中文 English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian English, German, Spanish, French, Italian
Learn More Visit Robinhood Visit IC Markets Visit Roboforex Visit eToro
Risk Warning Your capital is at risk Losses can exceed deposits Losses can exceed deposits 51% of retail investor accounts lose money when trading CFDs with this provider.

What you will need to open an account with Robinhood

As Robinhood is regulated by Financial Conduct Authority (FCA), Financial Supervision Commission (FSC).

As a new client of Robinhood, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with Robinhood in your region. During the Robinhood account opening process, you will be asked to provide Robinhood with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address.

When registering with Robinhood have the following documents available.

  • Robinhood require a scanned colour copy of your passport, driver's license or national ID card.
  • A recent utility bill or bank statement that confirms your residential address for Robinhood compliance. This must be dated within the last six months.
  • If you plan to fund your Robinhood account using a credit or debit card, you will need to provide a scanned copy of the front and back of your card. You can mask any sensitive information like the CVV code on the Robinhood platform.

It's worth noting that the expiration date of the proof of address document may differ for different entities under Robinhood Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you've passed compliance, you can start exploring Robinhood's platform.

However, remember that you won't be able to make trades on Robinhood until you have passed compliance, which may take several days, depending on your circumstances. It's essential to complete the Robinhood KYC compliance process as soon as possible to avoid any delays in accessing the Robinhood platform's features.

It is important to note that Robinhood may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the Robinhood platform and features immediately. However, you must pass the verification process to start live trading with Robinhood, which can take up to a few business days.

To start the process of opening an account with Robinhood you can visit the Robinhood trading platform here.
Your capital is at risk
You should consider whether you can afford to take the high risk of losing your money.

CFDs are leveraged products and can result in significant losses, excess of your invested capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered investment advice. All information collected from https://www.robinhood.com/ on June 14, 2024.

Watch this Robinhood Explainer Video

Is Robinhood A Good Broker?

We have spent over 5 years examining Robinhood in depth. Although we found some very useful aspects of the Robinhood platform that would be useful to some traders. We feel that a alternative to Robinhood may better suit you.

  • Robinhood have a good track record of offering Stocks, Commodities, Indices.
  • Robinhood has a history of over 11 years.
  • Robinhood has a reasonable sized customer support of at least 10.
  • Robinhood are regulated by the Financial Conduct Authority (FCA), Financial Supervision Commission (FSC). Robinhood is subject to strict regulatory oversight from its respective jurisdiction, which holds Robinhood (the broker) accountable for misconduct. This regulatory framework helps ensure that Robinhood operates fairly and transparently and provides Robinhood customers with a safe and secure trading environment. In any disputes, the regulatory body may also act as an arbitrator to help resolve issue between you and Robinhood.
  • Robinhood have regulation from reputable regulators.
  • One of the advantages of using Robinhood is the quick processing time for deposits and withdrawals, which typically takes only 2 to 3 days. Fast withdrawals from Robinhood are particularly important as Robinhood traders want to receive their money quickly. With the efficient Robinhood payment processing system, traders can enjoy faster access to their Robinhood funds.
  • Robinhood have an international presence in multiple countries. Including local Robinhood seminars and training.
  • Robinhood can hire people from various locations in the world who can better communicate in your local language.

Robinhood Risk Disclosure

Your capital is at risk

Trading Risk Disclaimer

Trading financial instruments such as cryptocurrency and foreign currency markets involves high risk and is unsuitable for everyone. When trading on leverage, the potential for loss is significantly higher than when dealing with just your funds. Risky trading leverage allows you to control larger positions with less capital, increasing both the potential for profit and loss.

You will be exposed to a high risk of loss regarding leverage and margin-based trading.

Furthermore, some off-exchange financial instruments and derivatives may offer varying leverage levels and may not be subject to the same regulatory protections as exchange-traded instruments. As a result, they may be subject to higher levels of market volatility and carry a higher degree of risk.

It is important to note that no investment product, technique, or strategy can guarantee profits, and past performance does not necessarily indicate future results. Any investment involves the possibility of financial loss, and it is important to carefully consider your investment objectives, risk tolerance, and financial situation before making any investment decisions.

Trading financial instruments is a high-risk activity that requires careful consideration and risk management. It is important to be aware of the potential for loss and to only invest what you can afford to lose.

Robinhood not quite right?

If after reading this Robinhood review, Robinhood does not fulfill your needs check out these Robinhood Alternatives.

Click here to view the best Robinhood Alternatives

We have spent years researching the best alternatives to Robinhood. Click the links below to learn more.

After extensive research over several years, we have compiled a list of the most effective Robinhood alternatives available today. If you are unsatisfied with Robinhood or want to explore other options, we recommend checking out our carefully curated list of highly-rated Robinhood alternatives. Follow the links below to learn more about these Robinhood broker alternatives and choose the one that best suits your trading needs.

Related Robinhood Vs Comparisons

Throughout our comprehensive Robinhood review, we have covered a lot of ground and provided an in-depth analysis of the platform's features and functionality.

If you're interested in comparing Robinhood against other popular brokers in the industry, check out our Robinhood Vs pages. Our team has compiled a series of detailed Robinhood comparison articles, pitting the Robinhood platform against some of the best-rated Robinhood competitors in the market. Dive into our informative Robinhood Vs pages below to find out how Robinhood stacks up against other leading brokers.

Robinhood review
ROBINHOOD Frequently Asked Questions

Read our detailed Robinhood FAQ Section updated for 2024.

Can I try Robinhood?

Robinhood offer a demo account so you can try the Robinhood platform with virtual trading before you put down a payment. Virtual trading with Robinhood is zero risk. Learn more here

What funding methods do Robinhood accept?

Please note that the list of payment methods below depends on the Robinhood Entity and the client's Country of Residence.

Robinhood offer the following funding payment methods Credit cards, Bank Transfer, PayPal, Debit cards, among other payment methods.
Learn more here

Your capital is at risk

Is Robinhood safe?

Robinhood have over 10,000,000 users. Robinhood are considered reliable as they are regulated by and checked for conduct by the Financial Conduct Authority (FCA), Financial Supervision Commission (FSC). Any payments funded to Robinhood accounts by traders are held in a segregated bank account. For added security,Robinhood use tier-1 banks for this. Tier 1 is the official measure of a bank's financial health and strength.Trading with Robinhood is risky, and because the market is so volatile, losses could happen at any time. Do not invest with Robinhood unless you are prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Your capital is at risk

Is Robinhood trading good?

Robinhood is considered good and reputable to trade with Robinhood. Robinhood is used by over 10,000,000 traders and Robinhood users. Robinhood offers Stocks trading, Commodities trading, and Indices trading. Minimum deposit with Robinhood is 0.

Is Robinhood trading Legit?

Robinhood was founded in USA in 2013. Robinhood has been facilitating trade on the financial markets for over 11 years. Robinhood offers clients Stocks trading, Commodities trading, and Indices trading. All funds deposited to Robinhood are held in segregated bank accounts for security. Robinhood is regulated by Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) so can be considered legit.

Is Robinhood a good broker?

Robinhood allows Stocks trading, Commodities trading, and Indices trading. Robinhood is overseen by the top tier financial regulators Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) so can be considered a good broker.

Is Robinhood trustworthy broker?

Robinhood is a reliable platform that can be considered trustworthy due to its strict regulatory practices. When you fund money to Robinhood, money is in a segregated bank account that is separate from Robinhood company's funds. As a regulated broker, Robinhood cannot directly access your funds, which minimizes the risk of misappropriation or fraudulent activity by Robinhood. Instead, your Robinhood funds are held securely in a separate account designated for your investments, providing protection and peace of mind when trading with Robinhood. Also Robinhood is regulated in its local jurisdictions including major financial regulators like Financial Conduct Authority (FCA), Financial Supervision Commission (FSC).

What is the minimum deposit for Robinhood?

The minimum deposit to trade with Robinhood is 0.

How long do Robinhood withdrawals take?

Withdrawing money from Robinhood processing time varies depending on the method but averages 1-5 days.

Is Robinhood regulated?

Robinhood is regulated by the Financial Conduct Authority (FCA), Financial Supervision Commission (FSC). Regulatory bodies conduct regular reviews and audits as part of Robinhood maintaining their regulatory status. You can learn more about these reviews on the regulator websites.

Is Robinhood a market maker?

Robinhood is not a market maker. A market maker speeds up trading as a market maker will purchase or sell your stocks and commodities even if a buyer or seller is not lined up.

How can I start trading with Robinhood?

When opening a trading account with Robinhood, you will need to sign up here. After completing the necessary steps of receiving login details via email, submitting identification documents for account validation, and making a deposit, the next step is downloading the preferred trading platform. For detailed guidance on Robinhood trading platforms, you can follow the link provided below: Learn more about signing up with the Robinhood trading platform here. This will provide useful information and insights into the various trading platforms offered by Robinhood, enabling you to make an informed decision about which platform to choose for your trading needs.

Is my money safe with Robinhood?

Yes your money is safe with Robinhood.

Overall, strict financial regulation is essential for ensuring that trading platforms like Robinhood operate fairly, transparently, and responsibly, which ultimately benefits all Robinhood stakeholders involved.

Trading platforms like Robinhood must have strict financial regulation for several reasons:

  • Protecting Robinhood Investors: Strict financial regulation ensures that investors who use the Robinhood trading platform are protected against fraudulent or unethical behavior by the Robinhood platform or its employees. Financial regulation can help to prevent investors from losing their money due to dishonest practices by the Robinhood platform.
  • Maintaining Robinhood Financial Stability: Strict regulation helps maintain the financial system's stability by preventing excessive risk-taking when using the Robinhood trading platform. Regulatory procedures reduce the likelihood of the Robinhood platform experiencing financial difficulties or failing, which could have ripple effects throughout the financial system.
  • Enhancing Robinhood Transparency: Regulations require trading platforms like Robinhood to maintain detailed records and disclose Robinhood client information. Financial regulatory requirements enhances transparency and helps to build trust between the Robinhood platform and its investors.

Robinhood is regulated by the Financial Conduct Authority (FCA), Financial Supervision Commission (FSC). When selecting a broker such as Robinhood, one of the most critical factors to consider is the broker's regulatory body and regulatory status. Unregulated brokers pose a direct risk to the security of their client's funds, as they operate without any oversight or regulation. In contrast, regulated brokers are subject to strict rules and regulations that prevent them from manipulating market prices or engaging in fraudulent activities. As a reputable broker, Robinhood ensures that withdrawal requests are processed promptly, demonstrating its commitment to transparency and accountability. However, brokers that violate regulatory rules can face the consequences such as losing their regulatory status in specific regions, highlighting the importance of working with a trusted, regulated broker for your trading needs like Robinhood.

Is Robinhood a con?

Robinhood is regulated and well established, having been in business for over 11 years. Robinhood is not a con.

Can you make money with Robinhood?

Although traders have had great success with Robinhood, trading on the financial markets with Robinhood is not a get-rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading, your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.

Does Robinhood have fees?

Robinhood doesn't charge withdrawal fees. Robinhood doesn't charge inactivity fees. Robinhood doesn't charge deposit fees.

When was Robinhood founded?

Robinhood was founded in 2013.

How many people use Robinhood?

Robinhood is used by over 10,000,000 registered Robinhood users.

What is Robinhood Headquarters country?

Robinhood has its head quarters office in USA .

Does Robinhood offer negative balance protection?

Robinhood offers negative balance protection. With Negative balance protection, traders cannot lose more money than they have deposited.

Does Robinhood offer guaranteed stop loss?

Robinhood does not offer guaranteed stop loss. With guaranteed stop loss protection, risk is managed. Traders are guaranteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does Robinhood allow scalping?

Robinhood does not offer scalping.

Does Robinhood allow hedging?

Robinhood offers hedging.

Does Robinhood offer CFD trading?

Robinhood does not offer CFD trading.

Does Robinhood offer STP?

Robinhood offers STP trading.

How many people use Robinhood?

Robinhood is used by over 10000000 Robinhood users and traders.

Is Robinhood an ECN broker?

Robinhood does not offer ECN trading.

Does Robinhood offer a demo account?

Robinhood offers a demo account.

Does Robinhood offer an Islamic account?

Robinhood does not offer Islamic accounts.

What are the funding methods for Robinhood?

Please note that funding methods and options available with Robinhood can be found in the Robinhood Members area and depend on the Robinhood client’s country of residence. Please check your specific available payment methods on the Robinhood website. Robinhood accept the following funding methods : Credit cards, Bank Transfer, PayPal, Debit cards.

Robinhood review written by Andrew Blumer and Mark Hansen

We hope you found our review of the Robinhood brokerage firm useful.

This article was written by our financial editors, Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years of experience in financial analysis, forecasting, and financial modelling, identifying new market opportunities in Stocks, CFDs, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

Robinhood review written by Mark Hansen of Comparebrokers.co