Robinhood Review: How to Claim Free Shares
Robinhood, a prominent commission-free trading platform, has expanded its services to the UK, offering users the opportunity to trade over 6,000 US stocks without commission or foreign exchange fees.
Free Share Sign-Up Offer
New UK users can receive a complimentary fractional share upon signing up. To qualify:
Sign Up: Create an account on Robinhood's UK platform.
Account Approval: Complete the verification process.
Deposit Funds: Make an initial deposit (as low as £0.10).
Once these steps are completed, you'll be notified to claim your free fractional share from a selection of top-traded companies. It's important to note that 96% of these rewards are valued between $7 and $8.
Referral Program
Robinhood also offers a referral program for UK users. For each friend you invite who signs up, gets approved, and makes their first deposit, both you and your friend receive a reward. You can use this reward to purchase stock from a curated list of leading companies. There is a cap of $1,500 in referral rewards per calendar year.
Additional Features
Interest on Uninvested Cash: Earn 4% AER on uninvested cash in your account, with funds protected by FDIC deposit insurance up to $2.5 million.
24/5 Trading: Trade select US stocks 24 hours a day, five days a week, providing flexibility for various schedules.
Fractional Shares: Invest in fractional shares starting from as little as $1, allowing for diversified portfolios without significant capital.
Conclusion
Robinhood's entry into the UK market provides an accessible platform for individuals interested in trading US stocks. The free share sign-up offer and referral program add value for new and existing users. However, it's essential to conduct thorough research and understand the risks involved in investing.
