We all know the Robinhood is very popular platform that allows you to purchase fractional shares of publicly traded companies. Meaning you don’t really have to buy one whole share of a company rather you buy a fraction such as 1/2, 1/4 of a one share. Think it as this you have an apple, you eat a slice of a apple, the slice you ate is the fractional share. However in this case you don’t really have to buy the whole apple, you just pay for the slice.
Your funds are protected up to $2.25million US dollars by FDIC which is even better than UK banks which protect about £85,000 per person, per institution. Also you have to note the 5%AER on the deposited funds and the interest is being deposited monthly not like UK bank where you get your interest at the end of the locked period. Remember Funds you deposit to Robinhood is withdrawable not like the fixed deposit you get in UK Banks.
Within Robinhood you get to trade US stocks without any commission and fx fees which is just amazing for us. you have the access to more than 6000 world wide stocks which is accessible from your smart phone.
YOU can buy fractional shares on Apple, Tesla, Google, Microsoft, Nvidia, META (Facebook), Amazon, etc.
If we just compare Robinhood to IG, they have a £10 commission, you get 0% interest on cash, you don’t get 24/5 trading and you are left with 0.5% FX fees per trade which is a complete waste if you are still using IG you are CRAZY!!! because you are just burning money.
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