Want to start trading in stocks? I’ll show you in this post how to open your account with Robinhood. You’ll be trading in stocks without the fees in no time!
Have you wanted to get started in stock investing? What’s holding you back?
Sometimes just getting started is the hardest part of anything.
When I was just out of high school I met a full time stock investor for the first time. I was in awe of his success and I knew I wanted to eventually do the same thing.
You know what I did? Nothing, at least initially…
Yep, I’m guilty of procrastinating too. I thought about it and dreamt of the possibilities, but didn’t take any action.
Eventually I did and I was so glad that I finally did. I even thought, why didn’t I start sooner?
Don’t make the same mistake as me. There is nothing holding you back from getting started other than fear.
You know what is on the other side of that fear? Nothing. There really is nothing to be afraid of.
So, I’m going to get you started right now. As in, TODAY. Yes, you can get started today.
I’m going to hold your hand through that fear and procrastination to get you started right now.
Once you’ve started, you’ll be so glad you did.
Are you ready to do this? I thought so. Let’s get started.
I use Robinhood to invest in stocks. The reason is because Robinhood is my absolute favorite investing app!
I've been using traditional brokers like Scottrade and Ameritrade for years and the interface was a pain to use and the fees we're ridiculous. Between the two brokers I spent $7 to $10 for every single trade! That adds up over time.
Robinhood on the other hand allows you to invest in stocks for free, which was unheard of until Robinhood was released. I’ve been using it since then and it just continues to get better.
I love it and highly recommend it if you want to get started investing in stocks.
It has no minimum starting money amount. $0 Management Fee. $0 Trading Fees.
It’s the absolute easiest way for a new investor to get started.
On top of that they added the ability to use your deposited cash and cash from stock sales immediately! With other brokers I would initiate a deposit or sell a stock and have to wait around 3 days just to get the cash available again to buy another stock.
What a waste of time..
A nice little bonus is the interface that is both easy to use and a joy to look at. On top of that, they make it super easy to research stocks and even buy / sell them. You’ll be buying and selling stocks in a few swipes in no time.
You really can't go wrong with Robinhood. We’ll create your account and once it is setup you'll be swiping and purchasing stocks in seconds. At least once you’re ready to start.
Open Your Robinhood Account
Let’s get started by setting up your stock account.
You can sign up at www.robinhood.com. You can also download the app for your phone to trade on the go, but for this post I’m just focusing on the website side of Robinhood.
It’s a pretty easy process, but I’ll walk you through it.
Step 1 - Goto robinhood.com.
Step 2 - Click on Signup.
Step 3 - Click on Get Your Free Stock
Robinhood is doing an awesome promotion to help spread the word and attract more millennials into stock investing by giving away 1 share of stock to everyone that signs up. Just for signing up you are going to get a free stock to get you started! That’s free money!
Step 4 - Enter your name, email address, and password. Click continue.
You’ll have to provide some basic information to verify your identity and also to get you bank account connected so you can transfer in your funds when you are ready.
Step 5 - Enter your address and phone number. Review the bottom 2 checkboxes to see if either apply to you and click continue.
Most likely both bottom boxes will be left blank.
Step 6 - Robinhood will notify you that they have to collect your social security number as a stock trading company. Click continue.
Step 7 - Continue on and you’ll need enter your date of birth, social security number, citizenship, marital status, and investment experience. Click continue.
Step 8 - Next, you’ll need to select your bank and then login to your bank. This connects your bank so that you can transfer money into Robinhood and back to your bank account when you are ready. Click continue once you are done.
If you can’t find your bank you can add them another way in the app and I’ll show you that in the next module.
FYI - Robinhood is a member of SIPC so your funds are protected up to $500,000 just like most banks. They also use the latest in security to keep your account protected. In other words, you don’t have to worry, Robinhood is secure.
Step 9 - Finally click Submit Application after reviewing the terms.
Step 10 - Check your email and you’ll have a verification email from Robinhood that you will need to click on Verify Email.
That’s it! You’re signed up for Robinhood. You should receive a confirmation email soon from Robinhood that confirms your account is ready.
You are officially ready to start investing!
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CREATOR OF MONEY BADASS WITH MY LOVELY WIFE KRISTA