RobinHood application Explanation of profit from the Robin Hood platform

Explanation of the Robinhood application and how to profit from it  is an important topic for fans of profit from the Internet through trading and investment, as in the RobinHood application, investment in the stock exchange and trading in stocks and digital currencies takes place without any additional fees, unlike investing in the stock exchange in the traditional way. In addition, the information of RobinHood application users is encrypted and protected to maintain the security of information for investors in the RobinHood website, and each user carries his own PIN code, and this has increased users' confidence in this application, and it has become the preferred application for many of them. To learn more about  the explanation of the RobinHood application and the explanation of profit from the RobinHood application,  we have prepared for you this article from the Ramoq website 

Robinhood Robin Hood application

The Robinhood app is   one of the simplest commission-free trading and buying and selling applications. It is affiliated with Robinhood for financial transactions, which is located in the United States of America. The Robinhood application appeared in late 2015 and was very popular among stock traders and speculators. It was also appreciated by stock exchange workers for its ease of use and the lack of commission on buying and selling operations.

Robinhood app explained

Robinhood application:  It is an investment and trading application to complete the buying and selling of stocks and currencies without commission, as the way the RobinHood application works is focused on buying and trading shares on the global stock exchange through the Robin Hood application, or even in the local stock exchanges. The Robin Hood app allows you to trade currencies without any fees. Therefore, the RobinHood application is a good option for anyone who wants to start investing and trading and does not have large funds, as the application does not impose additional fees on trading operations, and the user can invest the amount of money he wants in stocks and companies.

Robinhood Application Registration Terms

In order to be able to register in the Robinhood application, the following conditions must be met:

• You must be at least 18 years old to be eligible to register on the Robin Hood application.
• Have a valid social security number.
• To have a legal residence address in the United States of America, because the RobinHood application is available only in the United States of America so far, and in order to be able to register in it from an Arab country or any other country, the VPN application must be run to the United States of America, in addition to an American phone number and address American.

Steps to create an account in the Robinhood app

1. Go to the .Robinhood website. Or download the Robinhood app from the Play Store.
2. Click “Register,” then click “Claim Your Free Stock Now.” Robinhood gives away one free share of stock to all new investors.
3. Enter your name, email, password, phone number, address, social security number, date of birth and nationality.
4. Answer the questions in the RobinHood app:
   • How much investment experience do you have?
   • Are you an employee? Enter your employment information.
   • Were you a senior executive or a 10% shareholder in a publicly traded company?
   • Do you or a member of your family work for another brokerage platform?
5. Click on “Submit Request”.
6. Link your Robinhood account to your bank account, or you can choose to “Link Account Later.”
7. You will receive a confirmation email to verify the account.

You will be able to trade close to $1,000 when you link your Robinhood account to your bank account and fund it.

Robinhood application fee

Having an account in the Robinhood app is free, and unlimited trades in stocks, options, cryptocurrencies, and mutual funds are free and unfettered, and for gold trading, the trading fee starts from $5 per month.

Trading on the Robinhood app

In order to start trading and investing on the Robinhood app, you can follow the steps as follows:

1. Enter the name of the company you would like to invest in in the search field.
2. Click on "Buy".
3. Enter the amount of money you would like to invest.
4. Click on “Review”.
5. Swipe up to apply.

In addition to trading stocks in companies, there are also other trading operations such as:

• Trade cryptocurrency on Robinhood.
• Options trading on Robinhood.

Trade cryptocurrency on Robinhood

Where the user can trade cryptocurrencies without fees such as Bitcoin, Dogecoin, Ethereum and Litecoin. And the steps for trading it are the same as the steps for trading stocks mentioned above, and the good thing about the Robinhood application is that it allows trading digital currencies in small quantities, unlike other applications and sites that require a certain limit to start trading.

Options trading on Robinhood

There are two options:

• Sell ​​and bet that the stock will go down.
• Buy and bet that the stock will go up.

In order to be able to trade options, you must follow the steps as follows:

1. Click on “Account”.
2. Click on “Invest”.
3. Scroll down and click on Options Trading.
4. Click on “Register” and then on “Continue”.
5. Answer questions:
   • Do you provide investment advice as part of your job?
   • Are you registered with a financial regulator?
   • How many years have you been trading options?
   • Do you know how to enter an options spread?
6. Click on “Confirm” to confirm the data.
7. Click "Review" and then "I Agree".
8. When you receive approval of your data, click on “Continue”.

After these steps, you will be able to trade options of all kinds, such as:

• exercise options.
• Buying calls via Robinhood.
• Buying funds via Robinhood.
• Sell ​​covered calls via Robinhood.
• Selling covered funds via Robinhood.

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Robinhood app features

The Robinhood app has many features that made many users prefer it, including:

• Offers deals without commission or monthly fees.
• No minimum balance required.
• Simple and easy to download on mobile devices.
• It offers partial shares, so the user can invest the amount of money they want.
• It allows trading in cryptocurrencies and options, in addition to stocks.
• No experience is required and can be used by novice investors.
• Not violating the privacy of users and encrypting their data.
• It provides users with different payment methods, such as MasterCard, Visa Card, and bank accounts.

Is Robinhood Safe?

Like other investment apps, Robinhood is regulated by the Securities and Exchange Commission (SEC), registered with the Securities Investor Protection Corporation (SIPC), and the Financial Industry Regulatory Authority (FINRA) in the United States of America.

Download the Robinhood app for Android and iPhone

The official Robinhood website can be accessed from most web browsers, and the Robin Hood application is available for iPhone and Android devices in the United States of America only. As for Arab countries, the application cannot be downloaded from the store, but the apk version can be downloaded and the VPN can be run.

What is a Robinhood Gold account?

Robinhood offers an upgrade called Robinhood Gold. You can try Robinhood Gold for free for 30 days, after which time the cost will be $5 per month.

Robinhood Gold offers you the advantage of borrowing over gold, where you can borrow money to pay off higher value investments, and your securities in your account act as collateral for the loan.

Robinhood Gold also provides other features such as professional research and instant transfers.

Close or delete your Robinhood account

You can close your Robinhood account in two ways :

• Sell ​​all Robinhood assets and transfer the balance to the bank via ACH.
• Transfer all Robinhood assets to another broker.

Method 1 : You sell all your Robinhood assets, and transfer your account balance to your desired bank via ACH. Then complete the following steps:

1.  Click on the “Account” icon.
2. Click Settings.
3. Click on Account Information.
4. Scroll down and tap Deactivate Account.
5. Repeat these steps to close all positions.

When your balance becomes 0 USD and all your trades have been cancelled, you can confirm the deactivation of your account.

The second method:  By transferring all your assets in Robinhood to another broker, and in order to be able to do so, you must contact another trading company, request the initiation of the transfer, and if the transfer is partial or complete, you must pay the fee for transferring your assets outside Robinhood, which amounts to $ 75.