Robinhood App Review - How To Make $50 Daily with $0 Down

Robinhood App Review - How To Make $50 Daily with $0 Down


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Millennials' Top Investing Apps

The average age for Robinhood's 2 million users is 28, and a third of them use the app to make their first-ever stock purchase.

In September of last year, the company launched Robinhood Gold, a premium product for added services like buying on margin and extended-hours trading. The service is attracting high-net-worth, active investors and becoming a major revenue driver, spokesman Jack Randall said, with some Robinhood accounts now running into millions of dollars. Robinhood also earns revenue by collecting interest on the cash and securities in user accounts.

As for zero-fee trades, the company says it is able to offer this benefit because its all-electronic, tech-driven brokerage platform has slashed overhead costs. Randall dismisses trading fees as arbitrary markups with no place in the digital age, when "executing a trade is the same as sending an email."

Robinhood is adding 140,000 accounts every month to its 2 million-strong user base, which has made $75 billion in transactions since the app's 2014 launch.

Robinhood has won $176 million in venture capital funding since its 2012 launch and is now valued at $1.3 billion, PitchBook fintech analyst Evan Morris wrote in a recent report. Stash has raised more than $79 million since its October 2015 launch and has a $264 million valuation.

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News From The Net

How To Invest In Stocks For Free: New Apps Aim For Beginners

Source https://www.investors.com/news/how-to-invest-in-stocks-for-free-new-apps-aim-for-beginners/


Buying stocks has never been easier, cheaper or more accessible, as new investment apps target millennials and beginning investors with deep interest in the stock market — but not-so-deep pockets.



Robinhood promotes "free stock trading." Stash lets you "start investing with just $5." Acorns will "invest spare change from every purchase." And Stockpile offers "your favorite stock by the dollar" — so you can buy fractions of Alphabet (GOOGL) or Amazon.com (AMZN) shares, which are nearly a thousand dollars each.

"Micro-investing apps have 'gameified' investing," said Lex Sokolin, fintech strategy director at Autonomous Research, in an interview. "They are more about incentivizing participation in the financial markets — any participation by the younger generation — and making applications engaging and in some ways addictive."

The expansion of micro-investing apps will force the financial establishment to adapt — and could even disrupt traditional brokerages, say fintech and investing experts. But first these startups must show they can hang on to the customers they have acquired and turn a profit. That's no easy matter when incumbents such as Vanguard, Charles Schwab (SCHW), TD Ameritrade (AMTD) and E-Trade Financial (ETFC) have steadily lowered fees or removed minimums to trade stocks and ETFs, and have improved their digital platforms for a new generation of investors to boot.

But in one early sign that these fintech startups are winning over established giants, as well as beginner investors, Stockpile said Thursday it has raised $30 million in its latest round of fundraising, led by a venture capital fund backed by global asset manager Fidelity International, bringing the total it's raised to more than $45 million.

Investing For Beginners
In just a few years of existence, micro-investing apps have built a core audience among millennial investors with not much in the way of investable assets.

And the generation that came of age with the minimalist simplicity of Apple's iPhone doesn't want to look at screens overflowing with headlines, numbers and scrolling tickers.

On Robinhood, which allows people to trade stocks for free and does away with investment minimums, there's no short interest data, analyst ratings or options information. The app is stripped of the bells and whistles found on TD Ameritrade or other fully featured brokerage apps, and doesn't even have ads that clutter the screen. Its design is carefully crafted to inspire — rather than overwhelm — the first-time investor, Robinhood says.

Punch a stock ticker into the app, and you see little besides price action, a chart and a buy button. To buy the stock, enter the number of shares, preview the cost, swipe up — and you're done.

"Interactions must be small, fun and easy" for first-time investors, Sokolin said. "Micro-investing apps nailed it better than online brokers or robo-advisors."

On Stash, you can build portfolios around investment themes like "Clean And Green" or "American Innovators," rather than try to choose between less descriptive names like the T. Rowe Price Global Technology Fund or the Red Oak Technology Select Fund.

Marie Thomasson, a 37-year-old financial planner in Los Angeles and self-described app junkie, recommends Stash to beginning investors.

The app explains "just what you need to know about investing and no more," she said, contrasting it to mainstream brokers' "white papers" that are dry, boring, outdated or overwhelming.

Millennials' Top Investing Apps
The average age for Robinhood's 2 million users is 28, and a third of them use the app to make their first-ever stock purchase. If you think that's young, consider Stockpile: 60% of its user base is under 30 and 30% are children, who can get set up with custodial accounts.

Stockpile has no account minimums and no monthly fees. And even a high-priced growth stock like Amazon can be bought for $25 or $50 or any dollar amount an investor chooses. Stockpile makes money in part by charging a flat fee of 99 cents a trade.

For that amount, investors get fractional shares in the company and, often, their first taste of stock ownership, Stockpile CEO Avi Lele said in a phone call. The brokerage also offers gift cards that can be redeemed for stock, sold online and through outlets such as Target (TGT) and Safeway.

But the stock "gift card fee" of $2.99 online ($4.95 and up in a store) — another way Stockpile makes money — has drawn flak as a hefty commission. Stockpile argues that it ensures the gift recipient gets the full stock-gift value.

Lele said the app was inspired by his own struggles to scrape together a $5,000 minimum investment required by a brokerage firm. Lele was 25 before he had the money he needed to buy the Microsoft (MSFT) stock he badly wanted.

"You can buy quality stocks even when you are starting out" on Stockpile, he added. "You can't do much with 50 bucks at a traditional brokerage."

And for those old enough to have credit cards, the Acorns app rounds up purchases to the nearest dollar and invests the change in ETF portfolios.

University of Wisconsin student James Koenig, 22, estimates that his day-to-day spending nets him a $35-$50 investment every month.

"Acorns is hands-down my favorite investing app," he said. "I like the idea of being able to do small amounts that eventually add up to something bigger. You don't need to make a huge commitment."

Pros And Cons Of Micro-Investing Apps
There are trade-offs, of course. Robinhood, for example, offers fewer investment choices, less robust research tools, and a mobile-only trading platform. Micro-investing apps also get knocked for making stock trading much too easy.

Acorns' and Stash's $1 monthly fees sound small, but could erase the yearly gains of a beginning investor who may have a couple hundred dollars or less in the apps, critics note. Jason Kirsch, a fee-only financial planner in California, argues that users have an incentive to overtrade, which can lead to huge losses, especially for novice investors.

While apps such as Acorns offer some basic portfolio tracking, Kirsch finds that in more-complex situations — such as tracking individual securities for tax-loss harvesting — "none of these apps has built-in software that makes this easy."

And Tastyworks, a new platform that enables self-directed investors to trade any investment strategy, be it stocks, options or futures, dings such apps for doing little to build either a robust technological platform or strategic know-how for investing in the stock market.

"They may have captured a nice share of the business, but they may as well be selling hot dogs," sniffed Tastyworks co-founder Tom Sosnoff.

Meanwhile, Charles Schwab, TD Ameritrade and E-Trade have slashed trading commissions from $8-$10 per trade to $5-$7, narrowing the advantage that the new apps have on that score. And the incumbents have minimum balances that range from zero at TD Ameritrade to $1,000 at Schwab.

In addition to questions about how much money the apps can make for their users, there is the question of how they can make money for themselves while charging nominal fees, or none at all in Robinhood's case.

But in September of last year, the company launched Robinhood Gold, a premium product charging $6-$200 a month for added services like buying on margin and extended-hours trading. The service is attracting high-net-worth, active investors and becoming a major revenue driver, spokesman Jack Randall said, with some Robinhood accounts now running into millions of dollars. Robinhood also earns revenue by collecting interest on the cash and securities in user accounts.

As for zero-fee trades, the company says it is able to offer this benefit because its all-electronic, tech-driven brokerage platform has slashed overhead costs. Randall dismisses trading fees as arbitrary markups with no place in the digital age, when "executing a trade is the same as sending an email."

Robinhood is adding 140,000 accounts every month to its 2 million-strong user base, which has made $75 billion in transactions since the app's 2014 launch. But Randall could not say how many accounts are actually funded or used for trading and wouldn't share data on average account size or typical starting balance.

How Will Schwab, TD Ameritrade Respond?
The economics of micro-investing apps are extremely challenged, Sokolin acknowledged, while arguing that their true value lies in the opportunity to leverage the attention of audiences they have acquired.

"They may offer automated savings, but then up-sell into financial planning, or provide financial literacy, or create video content and add lead-generation into other categories, or sell customer data to other parties," he said. "There are lots of things you can do with a big audience other than getting them to buy funds."

Robinhood says its users check the app 10 times a day on average. That kind of engagement among a highly coveted demographic whose brand loyalties are still up for grabs could be made lucrative, for example, by monetizing users' data or up-selling premium services to them.

Robinhood has won $176 million in venture capital funding since its 2012 launch and is now valued at $1.3 billion, PitchBook fintech analyst Evan Morris wrote in a recent report. Stash has raised more than $79 million since its October 2015 launch and has a $264 million valuation.

But these emerging fintech tools must show they can engage customers as skillfully over the long haul as they have in these early days.

With most of the apps just 3 years old, it's too early to tell whether they will get customers to fork over larger assets as time progresses, or whether they can keep clients from switching allegiance to a Schwab, Vanguard or TD Ameritrade as their balances grow.

Meanwhile, the mainstream discount brokers and investment managers could simply buy up the new entrants or co-opt them in some other way.

PitchBook's Morris believes the established players could look for acquisitions in this space, similar to BlackRock's purchase of robo-advisor FutureAdvisor for $152 million two years ago.

Morningstar analyst Michael Wong said the big online brokers are enhancing digital tools to attract a new audience. TD Ameritrade, for example, now offers in-app chat support for the beginner investor who needs hand-holding on the go.

He added that TD Ameritrade's open architecture platform makes a partnership with micro-investing apps plausible. It would be a way "to acquire early investors that they hope are the next generation of profitable customers," he said.
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