Other online brokerages like Scottrade and E*TRADE charge $7 to $10 per trade. But by making trading free, Robinhood has saved its users a half billion dollars in commissions on the $50 billion in transactions it’s processed. Bhatt beams, “We pulled a half-billion dollars out of the finance industry and redistributed it to average young Americans. That’s something I’m personally very proud about.”
Referralhood
Robinhood is also launching a new referral program today, designed to lure new users but also teach them how to use the app. Bhatt says the company was trying to figure out “how do we build a referral program where when the person signs up, they get a unit of our service for free, like with Uber you get a ride for free so you immediately know what Uber does.”
Now when one user refers someone else who signs up, both get one share of a randomly selected company from a set that includes Facebook, Apple, Rite Aid, Ford and General Electric. “Most people who don’t invest in the stock market, their biggest hangup is they don’t know which stock to buy their very first time,” Bhatt says. But he insists people should dive in to start learning.
Continued at: https://techcrunch.com/2017/04/26/robincorn/
Sign up with this link and we both get a free share: https://share.robinhood.com/michaek1074/
Update: I've finalized this process from start to finish and it works seamlessly. You get a random stock, it takes some time for the transfer to settle, but once it has you can sell it instantly at the current highest market price. Once the funds have settled you can transfer the funds directly back to the linked bank account of your choice.
Thanks guys and gals!
Referralhood
Robinhood is also launching a new referral program today, designed to lure new users but also teach them how to use the app. Bhatt says the company was trying to figure out “how do we build a referral program where when the person signs up, they get a unit of our service for free, like with Uber you get a ride for free so you immediately know what Uber does.”
Now when one user refers someone else who signs up, both get one share of a randomly selected company from a set that includes Facebook, Apple, Rite Aid, Ford and General Electric. “Most people who don’t invest in the stock market, their biggest hangup is they don’t know which stock to buy their very first time,” Bhatt says. But he insists people should dive in to start learning.
Continued at: https://techcrunch.com/2017/04/26/robincorn/
Sign up with this link and we both get a free share: https://share.robinhood.com/michaek1074/
Update: I've finalized this process from start to finish and it works seamlessly. You get a random stock, it takes some time for the transfer to settle, but once it has you can sell it instantly at the current highest market price. Once the funds have settled you can transfer the funds directly back to the linked bank account of your choice.
Thanks guys and gals!
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