Free Online Trades

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Free Online Trades

Would you like to pay $0 per trade with RobinHood?

Errol Flynn as Robin Hood 

Okay. So I’ve got a trillion blog topics swirling and swirling…..

  • The Best Sectors and Stocks for 2014
  • My Morning Routine on Trading Days (Before Placing Trades)
  • 20 Things to Do When You Visit Los Angeles
  • My Fundamental and Technical Perspectives on Idera Pharmaceuticals ($IDRA)
  • and more

I sat down yesterday afternoon and wrote My Morning Routine on Trading Days, and I started doing research on the $IDRA blog…  but Robinhood kept coming into my mind. Not only is the name super-catchy, the RobinHood promise of $0 per online trade was going, wa-wa-wa-wa in my mind, over and over again.

So I gave in to the noise inside my head, and decided to share what I know about www.robinhood.io and all about whether you can get FREE online trades with this new company called Robin Hood. Take note that Robin Hood is a venture headed up by Google, Andreessen Horowitz, and other VC firms, so do not concern yourself as to whether I get a referral fee for this blog. I don’t.

When something new and interesting and cutting edge comes out onto the market, I like to share it with my loyal readers and get their brilliant feedback. I’m am so appreciative of all of the very smart people who exchange ideas with eager, young financial-types like me so know your comments are always read and appreciated here and on twitter @foxonstocks.

Late this past Friday, Dec. 13, I received this tweet from Kyle @StolysK:

 

Screen Shot 2013-12-16 at 4.43.50 AM

How can that be true? Is it too good to be true? These were my thoughts as my fingers typed www.robinhood.io faster than the speed of light. (dot io, instead of dot com) I brought it up in the url and I read the following information:

 

“Robinhood communications and communications emanating from its social media community are for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. All market prices, data and other information available through Robinhood are not warranted as to completeness or accuracy and are subject to change without notice. Any comments or statements made herein do not reflect those of Spacetime Holdings LLC, its subsidiaries or affiliates.

$0 trade Commissions are currently only available for Robinhood Financial self-directed brokerage accounts via mobile devices for Listed and OTC Stock transactions with an individual or joint cash Account. Please see our Standard Commission and fee schedule.

 

So I clicked on the live link for “Standard commission and fee schedule” and it took me to a page with this:

“$0 trade commissions for Robinhood Financial self-directed brokerage accounts via mobile devices for Listed and OTC Stock transactions with an individual or joint cash account.”

I couldn’t quite be sure if I had to open an account with Robinhood or what because they specifically say (on a different page of their website) that there is no minimum account balance required. Maybe a person can open an account and not put any money into it indefinitely, until of course, the moment when they trade.

I checked out RobinHood’s twitter account @robinhoodapp. At that moment there were no tweets, but I liked what I saw. The groundwork was laid for this new startup to come into the very competitive Online Brokerage Trading market. There are no less than 46 Online Brokerage trading companies and you will be able to see all of them on the soon-to-be-released Fox on Stocks Video episode #8 – How to Open Your Own Online Trading Account. (Back to the editing board for Fox on Stocks. Before episode 8 releases, better include Robin Hood).

Enticed by the promise of $0 per online trade, I submitted my email address and am now waiting to get Invited by Robin Hood to apply. Smart stuff here. I already want to sign up for free trades, now I’m excited about being Invited to open an account with them.

I haven’t forgotten my promise to expound on $IDRA. Right off the bat, I noticed that it trades around $3/share, and both the SEC and I consider stocks less than $5/share to be penny stocks, often speculative. $IDRA is smaller than small cap (tiny cap) and is thinly traded, so liquidity could be a problem. Biotech stocks make me nervous because one little CDC or FDA sneeze and the stock can tank, sight unseen. A veritable blood bath. That’s just a right-off-the-bat fundamental assessment. More later.

So here’s the deal for Monday, December 17, I’m excited to get my RobinHood invitation soon and here’s to free online trades. I’m not saying I’m leaving my other online brokerage accounts (plural) yet, but won’t this be interesting as it unfolds.

Thanks again for tweeting me about Robin Hood, Kyle!

Many Happy Returns,    Rachel