How to easily create an account on Robinhood

Looking for help creating a new account on Robinhood ? Robinhood is the most popular investment app for hobby traders. It is a stock trading app that offers commission-free trading. If your account is deactivated, you will not be able to access any of the stocks in your portfolio and you will not be able to perform any other transactions on the app.

Robinhood allows investors to buy fractional shares of a company. So if you want to own Amazon stock but can't afford the stock price of $ 3, you can buy as little as 1 / 1000 000 of an action, or $ 0,003 of the society.

Additionally, Robinhood Crypto allows its users to buy and sell Bitcoin, Ethereum, Dogecoin, and other altcoins, 24/24 free of charge. This service is incredibly unique to Robinhood. Before giving you the different steps to create your account, here is what you need to know about the platform.

???? How does Robinhood work?

Robinhood is a free trading platform. It offers users the ability to invest in a range of stocks traded on Wall Street and buy and trade cryptocurrencies. All you need is a Robinhood account first, whether it is a pro account or not.

With this platform it is also possible to invest in gold and ETFs, a type of investment fund. All in complete autonomy, without going through consultants. And all this without spending commissions. Robinhood, in fact, benefits from on-page advertising and subscriptions to have Gold services.

To trade with Robinhood, you need to download the app, available for Android and iOS, and create a Robinhood account.

Once your account is approved, an amount of money will be deposited in order to start trading. In the app, you can see data about different actions: prices, news and analyst information.

With this information, an investment strategy can be developed for the purchase of shares or fractional shares (as small as 1/1 of action), which makes it easier to invest in more expensive stocks without having to have a large budget.

Additionally, purchases can be made based on an amount of money and not a specific number of shares.

???? How do I close a Robinhood account?

If you have a Robinhood account that you want to close, you can easily close it in the Robinhood app. There are several ways to close your account, depending on why you are closing it.

If you change brokers, there is a procedure to follow. If you just want to close your account without transferring it, there is another procedure. There is a way to recover your account recordings after your account is closed.

???? How do I create an account on Robinhood?

There are no fees to open a Robinhood account or maintain one, nor does the company charge you when you transact.

It sounds a little too good to be true, but Robinhood says it makes money from “interest accrued on customers’ uninvested cash balances,” just like other online brokerages do. Here are the steps to create an account on Robinhood.

Step 1: Go to Robinhood official website

First, go to the Robinhood registration page. Here you will provide basic information such as your name and email address. You will also create a username and password for the account.

At the bottom of the page, Robinhood asks whether or not you have a mobile device running iOS or Android. However, you can set up the account on your computer first. Then log into the Robinhood app on your phone to start investing.

We'll walk you through setting up the online account and then show you how to access your Robinhood account on your mobile device.

Step 2: Enter your details

This section asks for some of your personal information such as your mailing address and phone number.

You will also be asked if you, or a member of your immediate family, are employed by a member company of a stock exchange, or if you or a member of your family are directors, 10% shareholder or senior manager of a company listed on the stock exchange. You will probably answer “not” to these two questions.

On the right side of the screen, you'll see answers to questions you might have about application issues, like why Robinhood needs a customer's address.

Once you are done with this page, just click on “ Carry on and go to the next step!

Step 3: Verify your identity

In this section, you will first see a page that explains why Robinhood is about to ask you for your social security number.

So if you're neither, click the " Continue " to move to the next page (and if you fall into one of these categories, please save us a lot of trouble and see you again!).

On the next page, you will be asked for your Social Security number, citizenship status, marital status, number of dependents, date of birth, and employment status. Just answer these questions quickly and move on to the next step.

Step 4: fund your account

The company states on this page that there are no fees for depositing or withdrawing money from your account. There is also no minimum deposit amount.

You can choose to fund the account from a list of financial institutions. If you don't see your bank on this page (or if you want to fund the account later), you can click the " What if I don't see my bank on this list on the right side of the page, then select the link " click here ».

This will allow you to proceed to the next application stage and fund the account later through the Robinhood app.

Step 5: Submit the application

You'll review the account agreement on this page (maybe grab a cup of coffee for this part), then click " Submit Request ».

Step 6: Download the app

Once you submit the application, you will be taken to a page that will ask you to download the Robinhood app so you can start investing.

The company says it will notify you by email when your application is approved, unless it needs more information from you, in which case you will always be notified.

There is also a link on this page for you to register your own copy of the app. The links on this page will take you directly to the Android or iOS versions of the app to download.

Step 7: Log in to the app

Once you've downloaded the app to your mobile device, simply log in using the account information you created in Step 1.

When you do this, you will see a screen stating that your account has been approved and a message at the bottom of the screen asking you to credit the account. Click on the link " Add Funds » and enter your bank account information to start investing with Robinhood!

Please note: you can access all your account information, settings, investment history, etc., by clicking the icon in the top left corner of the app.

???? Pros and cons a Robinhood account

Like any bitcoin exchange, Robinhood has its pros and cons. However, after carefully reviewing the service, we think the pros far outweigh the cons.

Where Robinhood shines

Costs. Robinhood is a true discount broker – although its offerings aren't as robust as some other brokerages, Robinhood has some of the lowest costs in the industry. This includes options trading, which does not have a contract fee.

Simplified interface. The platform is extremely easy to use. So easy, in fact, that some have argued that it makes complex trading strategies, such as options trading, too accessible to inexperienced users. However, if your only goal is to touch stocks, the simplified interface is very convenient.

Free cryptocurrency trading. Robinhood is still one of the few brokers that allows you to trade cryptocurrencies for free, so among stock brokers this is a standout feature.

However, if you compare Robinhood's crypto offerings to pure crypto brokers, that shine starts to fade.

IPO access. Robinhood allows users to participate in a company's initial public offering, or IPO. This has generally been reserved for financial institutions.

Where Robinhood fails

No retirement accounts. It only offers taxable brokerage accounts. So if you're keeping your money here for the long term or hoping to save for retirement, you'll miss out on the tax advantages of retirement accounts like traditional IRAs.

For most investors, investing through a taxable brokerage account should only happen after they have started funding such a retirement account.

No mutual funds or bonds. The lack of mutual funds and bonds can make it difficult to build a truly diversified portfolio.

Limited customer support. It has made notable improvements in its customer service over the past year, but it still falls short of other brokerages.

Reliability: Robinhood has been criticized for untimely outages and trading restrictions amid market volatility, and has been accused by regulators of misleading customers, resulting in steep fines. We discuss these charges and other customer service issues in detail below.

Before you leave, here are some alternatives:

Create a eToro account as easily as on Token Pocket. If you want to invest on a platform like Binance, then create a Lbank account the Bitget Account on the other hand are a little similar to the account Robinhood

???? Frequently Asked Questions

👉 Can you create another Robinhood account?

Name. A person who makes an investment in the hope of getting rich by buying and selling commodities, stocks, or other investments for more than what was paid. Verb.

Buy low and sell high to make a profit on a particular investment.

👉 Can I delete my Robinhood account and create a new one?

Yes, you can delete your Robinhood account and create a new one. However, it is not possible to transfer funds from one account to another.

👉 Can you have two securities accounts?

Yes, you can have two securities accounts. One account can be in your name and the other in your spouse’s name. This is a great way to diversify risk.

👉 Can I merge two Robinhood accounts?

Yes, you can merge two Robinhood accounts. You can go to your account Settings tab and click “Merge Accounts” in the lower left corner of the screen.

After clicking on “Merge accounts“, a screen will appear asking for your email address and password so that the account is merged with your current account.

👉 Can I reset my Robinhood account?

No, you cannot reset your Robinhood account. You can only remove all your app data by deleting it from the App Store.

👉 What happens when Robinhood deactivates your account?

Robinhood is a stock trading app that offers commission-free trading. If your account is deactivated, you will not be able to access any of the stocks in your portfolio and you will not be able to perform any other transactions on the application.

👉 How do I delete my Robinhood account?

You can delete your account by going to the “Settings” of the application and selecting “Delete account“. You will then be asked to confirm that you want to delete your account.

👉 Is Webull better than Robinhood?

It is difficult to compare Webull and Robinhood as the two companies have different approaches. Robinhood is a traditional brokerage firm that charges minimal fees for trades, while Webull is an auto trading platform that charges no fees.

👉 Is it safe to keep more than $500 in a brokerage account?

No, it is not safe to keep more than $500 in a brokerage account. The first thing to consider is the fees that will be charged to the brokerage account.

Many brokers charge a fee for each trade you make, and some also charge a monthly fee. You should also consider what happens if your broker closes, as this could happen at any time without warning.

Now I hope you can solve the problem of Can you create a new Robinhood account? If you encounter any issues, please feel free to comment below and let us know.