Robinhood is a free, no-strings attached stock app, that has created an easier way to buy and sell stocks digitally. With zero fees, this app-based, financial technology company has changed the investment and trading market by giving do-it-yourselfers the opportunity to invest without worrying about costly extra commissions. If you are new to trading, or just want to try it out, it’s completely-free, plus you’ll get a free stock just for joining… seriously. You could get a stock like Apple, Sprint, or Facebook. So, what are you waiting for?
Here’s how it works:
1. Sign Up for Free
The first step to claiming your free stock is to signup for your free Robinhood account. You’ll be prompted to provide general basic information like your: name, address, email, social security number, phone, etc. These details are typical for opening any trading account. In order to receive a free stock, you have to use a referral link. If you’d like you can use the link of one of our staff members by clicking here.
2. Claim Your Free “Mystery” Stock
Once your account is approved (this usually only takes a day or two), you’ll be notified by email that your new stock is ready. Just log into the app and click the prompt to “Claim” your free stock. After you do this, a digital game will appear with 3 “mystery” boxes. Choose a box at random and your stock will be revealed. One of my friends received a Groupon stock, which was pretty cool, considering she didn’t have to pay a penny for it!
3. Invite Others to Join
Once you’ve joined, you can repeat this cool process by inviting others to join and rack up on free stocks. For every person you invite, both you and them will receive a free stock (if you used our provided link, thank you!). Even if you didn’t score a Facebook or Apple stock, there’s still a chance you can get up to $500 worth of free stocks from Robinhood (sorry folks, there’s a limit, $500 is the maximum amount of free stocks you can win).
4. Start Investing (Like a Pro)
If you want to start investing in stocks, you can add your bank account to your Robinhood profile (this is optional and not required). Alternatively, you can decide wether or not you want to keep or sell your free stock. If you choose to sell your free stock, you can use the funds from selling your stock to invest in a different stock of your choosing. Let’s say you got a free Groupon stock and you want to invest in an equally priced Cryptocurrency instead (Yes, Robinhood let’s you trade Cryptocurries for select states!). You can do this by selling your free stock and using your “buying power” to purchase the equally valued Crypto stock. This will allow you to buy new stocks free of charge, which is perfect for first time traders or someone who is looking to test the waters before diving all the way in. Note: you may sell your free stock but you have to wait 3 trading days after you receive it to sell.
Lastly, if you’re skeptical and want to know how in the world does Robinhood makes money since they are free, here’s how… one of the things they do is offer an optional premium paid service (Robinhood Gold), which gives big shot traders who want to trade at higher levels, more perks and abilities than you’d normally get with the free account. If you are new, it might be best to just stick with the free account until you’ve stacked your coins.
If you’re looking to get free stocks and start trading for free, follow the above steps to get started. We hope this information helps. Cheers and happy trading!