Robinhood App Review
Robinhood has become widely known as the brokerage that democratized investing through commission-free trading. They have one of the best mobile trading experiences on the market and the Robinhood app is a truly unmatched interface. So today, we're diving into the app specifically – what we like and what we don't like.
You can find Wall Street Survivor's comprehensive review of all things Robinhood here.
What We Like About the Robinhood App
The Robinhood app’s UI is simply incredible. The app is simple, sleek, and quick. The animations are attractive and it’s an overall comfortable and enjoyable setting for investors who want their investing platform to look and feel great.
Not every brokerage offers cryptocurrency trading right now, and most of the ones that do have a minimum purchase requirement. Robinhood lets you buy cryptos in small amounts, which is good news for investors working with smaller portfolios.
Robinhood lets you easily choose stocks and cryptocurrencies you want to keep track of and add them to your Watchlist. This allows you to keep an eye on indices, benchmarks you’re trying to beat, and stocks you might want to buy into soon.
When you use the “browse” feature in the Robinhood app, you will be greeted with a subsection called “Popular Lists”. These lists, which are accompanied by matching images, allow you to quickly narrow down your search to find securities you may be interested in. Examples of Popular Lists include Daily Movers, Upcoming Earnings, and Growth and Value ETFs.
On the “Investing” page, or home page, of your Robinhood app you’ll see little notifications that pop up beneath your portfolio summary. These are “cards” and include information like new features, account updates, market updates, and news updates.
Users who want to quickly bring in money from their bank accounts to be used instantly for investing or manage their Cash Management account and debit card can go right to the “Cash” page on the app.
The “Messages” page mainly contains updates on your current orders and makes it that much easier to stay up-to-date with your investing actions without having to exit out of the app and check your email.
What We Don't Like About the Robinhood App
Robinhood has an unfortunate history of outages during times of high trading volume. The first incident of note was a series of outages in March 2020, when investors were unable to trade for several hours at a time. More recently, the app had outages in January of 2021 during a surge that led Robinhood, as well as other brokerages, to stop their users from trading stocks such as GME and AMC. While these issues do not happen very often, even one outage can lead to big losses for retail investors.
The amount of research tools available on the Robinhood app is rather small. Investors who like to research their stocks heavily before buying in will find that Robinhood lacks the advanced statistics needed to make completely informed decisions.
Experienced investors will find the charting tools on the Robinhood app to be very simple. While the look is simple and clean, the only features offered are line graphs and candlesticks with basic financial statistics. If you are looking for a highly customizable charting and forecasting experience, other apps may suit you better.
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