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Robinhood Robo-Advisor Review


ConsumersAdvocate.org Rating: 4.8 / 5 (Excellent)
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Robinhood is a financial services company based in Menlo Park, California, that operates a free robo-advisor platform on web and mobile. The company's platform is designed to teach new investors about the market as they trade, while simoultaneusloly offering experienced investors the tools necessary to do efficiently. Features include free options and security trading, zero commissions, and SIPC insurance.
 
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How is Robinhood rated?

Breakdown

4.8/5
Features
4.9/5
Pricing and fees
4.7/5
Reputation

Overall Rating: 4.8 / 5 (Excellent)

Robinhood Account Features

Features - 4.8 / 5

Robinhood is a fully automated robo-advisor that receives no help from financial experts. Accounts on the platform do not require a minimum to open and are designed for general investing in stocks, ETFs, and options. Users can also invest in Cryptocurrency through Robinhood, such as a Bitcoin and Ethereum.
Robo-advisor Type
Fully Automated
Account Minimum
None
Goals
General Investing
Integration with Other Accounts
401(k)
Other Brokerage Accounts
Types of Assets
Cryptocurrency
Stocks
ETF Portfolios
Access to Financial Advisors
No

Robinhood Fees & Commission

Pricing and fees - 4.9 / 5

Robinhood is completely free to use. Other than any relevant SEC & FINRA fees that may apply, Robinhood charges almost no fees whatsoever. This is a huge advantage over other robo-advisor platforms. Robinhood still charges for other services such as wire transfers, paper statements, and foreign or broker-assisted trades, but for the most part, users do not have to pay a single cent.
Commission
None

Robinhood Reputation & Customer Service

Reputation - 4.7 / 5

Year Founded
2013
Consumer Financial Protection Board (CFPB) Complaints
4
SIPC Membership
Yes
BBB Rating
B-
Trust Pilot Rating
7.7 out of 10
Mobile App
Yes
Date Collected
2020-02-18

Company Profile

Full Name
Robinhood Robo-Advisor
Company Website
https://robinhood.com
Headquarters
85 Willow Road, Menlo Park, CA, 94025

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Customer Comments & Reviews

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O
Orlando M
4/30/2020
They say they offer fractional shares, then when you open the account they leave you on a waiting list. If you send an email it takes long for a response. This app needs to have a chat option as a minimum.

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  • Zero commission robo-advisor trading
  • Designed for newcomers and experts alike
  • Learn as you invest and discover new stocks
  • Cutting-edge security and member of the SIPC
  • Investing directly from your phone or desktop
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