.png)
iOS: One of the first things any smart investor will tell you is that you have to consider commissions when buying stocks. A high commission can eat into your gains before you even make them. Robinhood, however, doesn't charge you a cent.
The app is simple enough. Buying and selling stocks isn't really the hard part of investing, after all. Once you find a company you like, simply tap Buy, specify the number of shares you want, and you're done. The app is heavily color coded, using a black background to symbolize when the markets are closed, white for open, and obviously green and red symbols to indicate whether a stock is up or down.
The crucial question that anyone should ask when something that costs money is offered for free is "How do you plan to make money, then?" According to the app developers, Robinhood will (initially at least) receive the interest generated by money stored in their accounts. Which seems reasonable. Simple interest is rarely that much for any individual person, but for the company managing all the accounts, it could potentially make the company profitable in place of commissions. The app currently has a waitlist, but you can at least see your place in line.
Robinhood | iTunes App Store
from Lifehacker http://ift.tt/1wHKufs
0 comments:
Post a Comment