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This website is not an advisor in any way, shape, or form. Results can greatly vary and are not guaranteed. Financial advice that could be right for me or someone else may not work or be right for you. Consult your financial advisor before making any decisions. The smart money says do not invest any more than you can afford to lose. That being said… let us dive in!
Use my link and we will both receive a free stock from Robinhood. There is a small chance it could be Apple or Microsoft, a slightly better chance it could be GE, Snap, or Annaly Capital. Either way, we still each get a free stock of something.
Conclusion
Pros
- No Account Minimum
- Streamlined Interface
- Offers Cryptocurrency
- Offers Options Trading
Cons
- Limited Customer Support
- No Retirement Accounts
- No Bonds
Why I Use Robinhood
Most of us these days have a busy schedule, myself is definitely included. By having something simple on my phone I can take out at any time and glance at a widget to see how things are going is invaluable. A lot of times my phone is my laptop replacement so I don’t always have to carry my laptop with me. If I’m doing big research, my laptop is required but not what I’m typically doing.
Robinhood fills this need very well. One thing I have noticed myself is I have a lot to learn. Robinhood helps me out by giving me buy/hold/sell ratings and quick references to articles along with all the information of the stock all on one page, not some triple monitor computer.
Withdraw Your Robinhood Investments
So, I just did what every investor is told over and over not supposed to. Life happens and sometimes you just have to. Or maybe you hit your savings goal and now its time to put your investment to use. Either way, I just incurred a taxable event and sold a portion of my Robinhood investments. Let’s see how easy this is…
Unlike some other services that have trade windows, selling stock in Robinhood is just as easy as buying them and is mostly instant. In your individual stock view, the lower right corner has a “Trade” button. Pressing this will bring up multiple options, including “Sell.” You can easily just hit sell on the default value, which is the current market price. Also, you have the option to change the desired price to a higher value but could take longer to sell.
For advanced users, a Stop-Loss Order can be set up to a lower value to limit losses and quickly drop rapidly falling stocks. I have set up both higher and lower values on volatile stocks that rapidly change to help maximize profits while protecting myself from huge losses.
After carefully selecting a few stocks I have been tracking to monitor gains and losses, its time to get down to business.
Under your Account Profile, select transfer, then transfer to your bank. Your total amount available will be greyed out on the next screen just for informational purposes. Type in the amount you want to withdraw and give that checkmark a push. A confirmation screen will pop up next verifying your request and informing you this process will take a ‘few business days’ to complete. The next page will be a submitted page that will confirm the request was received.
Links
Links
Links