Investing

Robinhood Review – How To Use Robinhood In 2022

How To Use Robinhood In 2022

Getting began with investing on Robinhood is straightforward so long as you’re 18 or older, have a legitimate social safety quantity and U.S. residential handle, and are a U.S. citizen or everlasting resident. 

In lots of instances, you may as well join if you’re a citizen of one other nation however maintain a legitimate U.S. visa (though in some instances it’s possible you’ll be required to submit further documentation).

Robinhood can be utilized on iOS and Android units and in most internet browsers.

How To Set Up An Account With Robinhood

You don’t want any cash to open an account on Robinhood, and submitting an software doesn’t have an effect on your credit score.

Organising an account on Robinhood requires 2-3 steps:

  1. Submit your software.
  2. Look ahead to an electronic mail from Robinhood that both confirms you’ve been accredited or asks for extra documentation.
  3. For those who obtain a request for extra documentation as a substitute of an account affirmation, it’s possible you’ll want to attend as much as 7 days to have your software reviewed.

If you’re able to open an account, you’ll begin by tapping or clicking the signup button on its house web page.

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Start by filling out your authorized identify and electronic mail handle, and making a password.

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Subsequent, you’ll be requested to supply further contact info resembling your cellphone quantity and residential handle.

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As you progress by way of the appliance, you’ll be requested to confirm your identification by offering your social safety, date of delivery, and citizenship standing.

You then’ll be requested a sequence of a number of selection questions, resembling:

  • How a lot investing expertise do you’ve?
  • Would you wish to allow choices buying and selling as soon as your account is accredited?
    We advocate answering “no,” since choices buying and selling is a high-risk exercise. You possibly can all the time allow elective later for those who change your thoughts.
  • What’s your employment standing, occupation, and identify of your employer?
  • Are you or a member of the family a senior govt or 10% shareholder at a publicly-traded firm, or working for one more brokerage?

When you full your software and faucet the “submit” button, you’ll be requested whether or not you wish to fund your account or wait till later. We advocate ready till your software is accredited earlier than funding your account in order that your cash doesn’t get tied up whereas ready on approval.

Now your Robinhood homescreen has modified to a dashboard, full together with your private portfolio profile.

Scroll down beneath the preliminary display to disclose information, ideas, inventory exercise, and extra up-to-the-minute info for traders.

Organising an account with Robinhood is easy, and you may get began investing when you obtain approval by electronic mail, which often takes between 24 hours – 7 days.

As soon as your software will get accredited, you’re able to fund your account and start investing.

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