Is The Robinhood App Good For Investing
In my investing and trading career I have used numerous investing platforms. I currently use 7 different platforms on 3 different types of markets. Many trading platforms are just downright overcomplicated. They give traders opportunities to use many different tools on their charts. Options are great, but for someone like me it lends to my desire (if that's what you call it) to completely overthink a trade. The more stuff you give me to analyze a stock, the more time I'm gonna spend doing just that, and will either miss the good entry point or just talk myself out of what turns into a great trade.
So why then do I use so many different platforms? Frankly, they each have a different purpose. Keep in mind, I trade Stocks, Forex, and Cryptocurrencies. They all have their different platforms, and I keep my money in multiple places for safety reasons. I agree that it may be overkill, but it works for me.
But why is Robinhood so great? Simply put, SIMPLICITY! Robinhood is so simple to use compared to every other platform I employ! I open the app and everything I need to see is right there on the opening screen. It is all nice and clean, not over cluttered with an obnoxious amount of options for analysis-paralysis. If you do need extra charting there are plenty of free websites you can use for that. I recommend this one.
In my experience with Robinhood, and I've been using the app since 2017, their trades are fast (instantaneous nearly every time for me), finding the stock you are looking for is as easy as typing the company name, transfers are a snap and with instant availability of funds, you don't have to wait for settlements before you can trade again, and just to be totally transparent, I have never had to call customer service...not once since 2017.
Do I Recommend Robinhood
If you are a new trader I believe Robinhood is one of the very best places for a new trader to learn to make buy and sell orders, research different companies, and get his/her feet wet in the pool of stock market trading. It absolutely fits an on the go lifestyle. If you have a plan for making trades or even making long term investments, then yes, I believe without a doubt that Robinhood is a great app! If you are a seasoned professional having traded and invested for many years, I believe Robinhood has a tremendous amount of value for you. It will give you the ability to unchain yourself from a desk and your PC. Go live life a bit more with the freedom that Robinhood will give you. You deserve it.
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