Robinhood is the popular (free) stock trading app that gained popularity last year for its excellent design, easy-to-use interface, and great premise. It's an easy way to get started in the stock market without paying excessive fees, and Robinhood has said that the app has helped beginners and experts alike.
The next step for the app is a premium tier called Robinhood Gold that unlocks a few extra features for a monthly price. This fortunately won't affect the free tier of the app, so if you're already a user you won't have to worry ab out much changing. However, if you want to spend $10 to really dig into your stock portfolio, you'll get some added perks.
- Pre & After Trading Hours: Once reserved for institutional investors, extended trading hours let you trade before the opening bell and well after the closing bell — an extra two and a half hours of access, every day.
- Additional Buying Power: Gold Buying Power is money that we lend to you to buy stocks, giving you the equivalent of a line of credit for the stock market. You get up to 2x your buying power so you can invest more, and keep any profits. More information on our Help Center.
- Bigger Instant Deposits: Take advantage of Instant Reinvesting, which lets you access proceeds from a stock sale immediately, and Instant Deposits, which eliminates the three day wait period for funds to transfer from your bank into Robinhood.
The new features are seamlessly built around the features that Robinhood already offers, so anyone familiar with the app should feel right at home.
Going forward, the developers will continue to add features to the basic Robinhood app, too, and it's still going to be commission-free.
If you'd like to sign up for an invite to Robinhood Gold, you can do so on the app's website.
source: Robinhood
