Trading Platforms Review- RobinHood
One of the big things to change in stock trading in the past ten years is the proliferation of new trading platforms. What used to be an activity limited to professional brokers is now available to retail investors of many flavors. One of the most well known of these platforms as of late is RobinHood.
While I personally still use ETrade for my trading, we have a guest review of RobinHood to share from Joe. He’s a student studying Mechanical Engineering and doing some options trading on the side.
I started using Robinhood in January of 2020 right before the stock market crashed. The no-commissions trading and easy to use app was and is phenomenal. My experience so far has been good.
I am not an active trader, so having a small account under 25k wasn’t a problem for me in regard to day trading (PDT) rules. I like most of the features of the app, and I do have Robinhood gold and margin.
I would not recommend either especially with today’s high rates environment. For stock analysis, like TA or fundamental analysis I would not recommend Robinhood either. However, I do love the current UX for options trading.
I mostly use Robinhood for making my options trades and I do sometimes use margin for it as well. I would definitely recommend this part of Robinhood, but I would like to caution to be at least an intermediate level options trader before use.
Thanks for the review Joe!
Do you use Robinhood? What do you think? If not, what platform do you use? Let us know in the comments below or contact us!
And if you’d like to reach out to Joe directly, he’s on Twitter at @JZeussi.