Robinhood is an investing app in which you can invest with no fees.

When someone told me I could invest with no fees I thought they were crazy. I had been using the typical investing accounts and I had to pay $5-$10 each time I wanted to make a transaction.

So I tried it out. I downloaded the app, added a few dollars, and started investing. WITH NO FEES! That was the best part for me. I was able to test it out with a small amount of cash to see for myself how it works.

Now, a few years later and I’m still using Robinhood to buy stocks, index funds, cryptocurrency, etc.

Below, are some points from my experience from the past few years.

Robinhood is not an in-depth program.

Robinhood is a streamlined investing app. It will not have many of the research functions as other investing brokerages have. You can still look up the ticker and find what you want to buy though. Which is all I want. I can do the research elsewhere.

DRIP – Dividend Reinvestment Plan

With Robinhood, you can turn on the DRIP. If a stock or fund pays a dividend you can set that to be automatically reinvested. For instance: the other day I was paid $18.90 in dividends. The next day the $18.90 was reinvested in the same fund. This is passive income at its best. Even if I didn’t touch this investment for years, it would still reinvest and grow.

Fractional Shares

Obviously, we can’t all afford to purchase every stock. An A share stock in Berkshire Hathaway is around $350,000 right now. Guess what, you can still invest in BRK.A with only a few dollars. With Fractional Shares, you can purchase smaller portions of whatever you like.

I have used this to buy stock in Google, BlackRock, Amazon, Apple, and yes Berkshire Hathaway A Shares.

No Fees

Before, I would have to save up a large amount of cash before I made a transaction. Paying a fee on a small amount of money would have been ridiculous. Imagine paying $10 to invest $100. You would only have $90 to invest. With Robinhood, I can invest with $100 or even less, much less. This gives me a lot of freedom and allows me to make quick purchases with whatever money I have at the time.

Cryptocurrency

I’m now investing in cryptocurrency. I don’t know much about cryptocurrency but I’m able to get some experience in it by investing a small amount of money in cryptocurrency. It has almost tripled in worth. Now, I wish I would have invested more.

Conclusion

I am a big fan of Robinhood. It fits with my lifestyle and investing style. If you are looking for research-heavy software though, this isn’t for you.

Check out Robinhood using my link below and we will both get a free stock. Win/Win. 😉

Robinhood Free Stock