In the last one decade the world of investment has changed. Within the advent of new online brokerage platforms investing is now more accessible than ever. Robinhood is one such platform which has with its commission trading service has played important role in this change. Robinhood’s free stock offer is one of its most notable features.
Robinhood, one of the few platforms that still offers new customer free stock when they sign-up and link a bank account. You can get share worth up to $200 when you sign-up for a Robinhood account. This prospect of getting free stock, whether you are a novice or an experienced investor, can be a great way to begin your investing journey. So, let’s begin and learn more about it.
What is free stock on Robinhood?
Robinhood gives away free stock based on how much you spend in the first month of using their platform. This encourages new users to maximize their investment and build a diverse portfolio while spending minimal capital. Robinhood ”free stock” is part of its referral programme and is intended to encourage new users. Here is how the free stock on Robinhood works:
- As part of the Robinhood referral program, when you open a new Robinhood account, you are eligible for a free share. The stock chosen is random, so you may end up with shares of well-known companies such as Apple, Amazon, or Tesla.
- Robinhood offers a referral program that allows users to invite their friends to the platform. Both the new user who signs up through a referral link and the referrer get a free share.
How to Get Free Stock on Robinhood?
Here are the steps to you need to take to get free stocks with Robinhood:
- Download the Robinhood app on your Android or iPhone device.
- Once installed open the app and create a new account. You will need to enter some personal details, such as your name, email, phone number and Social Security Number. These details are required to confirm your identity and meet requirements.
- You need to your identity after signing up by providing additional details, such as date of birth, your address, and your employment details.
- After this you need to link a bank account with Robinhood.
- You will receive your free stock once your account has been verified and set up.
What is the Value of Free Stock on Robinhood?
The value of free stocks on Robinhood can vary from user to user:
- Some free stocks are worth a few bucks, while others can be much more. It is nice to receive a free stock, but you should not consider it a guarantee of financial gain.
- You will receive a free stock randomly chosen from the available options. You could be given shares from a company with a higher or lower value.
FAQ
Can you withdraw Robinhood free stock?
Yes, you can withdraw Robinhood free stock. For this you need to transfer the stocks from the Robinhood to linked bank account.
How can Robinhood offer free trades?
Robinhood offers free trades through its unique business model.
How much is a free stock worth on Robinhood?
The value of Robinhood free share of stock can be different for each user. Generally, it is just few bucks.