Robinhood, The Retail Trading Platform For All

in hive-175254 •  3 months ago 

Did you remember that fairy tale or fictional story the Robin Hood where a bandit stole from the rich and gave it to the poor, well in this case we aren’t taking about a bandit but we are talking about a retail stock trading application Robinhood.

robinhood_cryptocurrency_trading_app-5bfd78e0c9e77c0026f122ac.jpeg
Source

In the middle of the 2013 recession when everyone lost trust in the stock market due to price drop, Vlad Tenev and Baiju Bhatt created a trading app were people could trade on their accord without using hedge fund. The app is aimed at allowing traders to trade without commissions as well as create an easy way to trade making it visible to see how your money works directly instead putting hopes on the fact that a broker will clock your trade. Robinhood is the trading platform that put both the sharks and the minnows in the same ocean to trade and make interest with non-existent fees.

The Robinhood app at the beginning of 2020 had about 13 million users trading options online. The company has been growing very fast as users find this easy and more trustworthy. Unlike Fidelity, Charles Schwab Ameritrade, Morgan Stanley and many other brokerage company Robinhood traders aren’t large traders or investors with hundreds of thousands of dollars in account. The coronavirus has made a lot of people trade with Robinhood as people are indoors and have access to trading via their phone. The company is believed to make money from market makers, Robinhood gold, and stock loans.

Although a lot of people have seen trading as a means to get rich quick scheme, I must say that trading is very risky and it becomes more risky with future or margins. Trading is risky and should not be done by an amateur. Although a lot of millennial are really hoping to buy a Lamborghini from trading but the fact remains that trading requires a lot of skill and it is just as equivalent to gamble.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Yeah, trading is not easy one bit and it will take a few falls to get it just right.

Nice blog 👌 thanks for sharing

actually this is how they can earn a good living in this panademic .

The coronavirus has made a lot of people trade with Robinhood as people are indoors and have access to trading via their phone.

@tipu curate

Upvoted 👌 (Mana: 12/18)

@papa-mensa we have many different platforms to do trading , but one should know proper handling of the platform. Otherwise we can make huge losses. Recently a Robinhood customer done suicide because he had made some huge loss in trading.

Just hearing about this Robinhood app for the first time

Congratulations @papa-mensa! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You received more than 3500 upvotes. Your next target is to reach 3750 upvotes.

You can view your badges on your board And compare to others on the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Support the HiveBuzz project. Vote for our proposal!