With a clean, easy-to-use interface, no account minimum and commission-free trades, Robinhood is the perfect match for beginner investors.
Overall Score: 8.5/10
Who should download Robinhood: Beginner investors
Pros:
- Commission-free trades
- Zero account minimum
- Great app user-experience
- Cryptocurrencies
Cons:
- Lacks robust research and analytics that more advanced investors want
- Doesn’t support retirement accounts
Full Review:
Robinhood was one of the first investing apps I downloaded when I began investing with brokerage accounts. The account setup process is quick and easy, and the app is very easy to navigate. While other apps can be cluttered and confusing, Robinhood’s simplicity is definitely one of its strengths.
Cost: 5/5
100% free. There is no fee to sign up, and like many investment apps, Robinhood offers commission-free trades. This means that you don’t have to pay Robinhood anything whenever you buy or sell stock. A paid add-on offers some nice-to-have features for more experienced investors, but these aren’t necessary for beginners.
Ease of Use: 5/5
The user-interface is clean and uncomplicated, making navigation quick and easy. Account setup took a few minutes, and following approval, I was ready to trade the same day.
Individual stock performance is delivered via a simple, clean interface. You can quickly see how the stock is performing today and its historical performance over time.
Features: 3/5
Robinhood excels at simplicity, which is perfect for beginners but may leave more experienced investors wanting more. As a result, research and analytics capabilities are lacking, but for investors that know what they want, this isn’t a big deal. Robinhood does offer a paid add-on, Robinhood Gold, that provides some research analysis, margin trading and a larger instant deposit amount that may interest more experienced investors.
Robinhood also offers the ability to trade cryptocurrencies. There are a number of cryptos supported, so if you’re wanting to invest in bitcoin but don’t want to deal with setting up a wallet, Robinhood is a great solution.
Summary
Robinhood is usually the first investing app I recommend to those with little to no experience investing. The app is clean and easy to use, and the commission-free trades make this a perfect choice for new investors.
Ready to start investing? For a limited time, sign up with Robinhood to get a free stock.
Millennial Finance 
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