Author Topic: Free stock from Robinhood  (Read 19043 times)

k-vette

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Free stock from Robinhood
« on: May 12, 2017, 06:13:02 PM »
They have a promotion going on now.  Open an account from a referred friend and they give you both a free stock.  I couldn't find anyone mentioning it so figured I'd pass it along.  Ask your friends who use it if they have a referral link!

If you don't, welcome to use mine.  "Join Robinhood and we'll both get a share of stock like Apple, Ford, or Sprint for free. Make sure you use my link. http://share.robinhood.com/kylec189"

Seems like the app is slowly improving and features are getting added.  So far so good.  :)


daverobev

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Re: Free stock from Robinhood
« Reply #1 on: May 12, 2017, 06:18:20 PM »
Available to Americans only, I believe - you may want to put that in the title.

chuffly

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Re: Free stock from Robinhood
« Reply #2 on: May 12, 2017, 09:03:15 PM »
I've been interested in opening up an account with Robinhood, as a I want to buy a share of baby Berkshire to get be able to attend the shareholder meeting next year.  Also, there are a few ETF's I'm interested in that aren't available elsewhere commission free.  So maybe this is the impetus I need to jump in ...

I guess the things hold me back are the following (feel free to try to mitigate my concerns here):
  • Is the business model viable? - I don't want to end up with a situation where they are forced to sell to another brokerage that doesn't have as favorable of a commission scheme (although I suppose it wouldn't be the end of the world ... these ETF's would be "hold forever" types).
  • How is their tax documentation? - I don't want it to be a headache gathering tax information when the time comes to render unto Caesar.
  • Integration with Mint and SigFig? - I checked today and there doesn't appear to be a way to import into those apps.  Are there plans to make that available anytime soon?
I might open an account anyways, but the 1st and 3rd bullet points are kinda sticking points for me right now.
« Last Edit: May 12, 2017, 09:11:32 PM by chuffly »

Hargrove

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Re: Free stock from Robinhood
« Reply #3 on: May 12, 2017, 10:36:57 PM »
RobinHood has crap-all for features and tools, but it really is free. It's only on your phone, and doesn't support account transfers in, which is all a PITA. But it's free.

Viable long-term? Well, no free platform has held on very long to my knowledge (so far).

But you could do worse than free stock. The tax implications if you get a $3 stock and sell it are... 0. :p

k-vette

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Re: Free stock from Robinhood
« Reply #4 on: May 13, 2017, 10:30:33 AM »
I've been interested in opening up an account with Robinhood, as a I want to buy a share of baby Berkshire to get be able to attend the shareholder meeting next year.  Also, there are a few ETF's I'm interested in that aren't available elsewhere commission free.  So maybe this is the impetus I need to jump in ...

I guess the things hold me back are the following (feel free to try to mitigate my concerns here):
  • Is the business model viable? - I don't want to end up with a situation where they are forced to sell to another brokerage that doesn't have as favorable of a commission scheme (although I suppose it wouldn't be the end of the world ... these ETF's would be "hold forever" types).
  • How is their tax documentation? - I don't want it to be a headache gathering tax information when the time comes to render unto Caesar.
  • Integration with Mint and SigFig? - I checked today and there doesn't appear to be a way to import into those apps.  Are there plans to make that available anytime soon?
I might open an account anyways, but the 1st and 3rd bullet points are kinda sticking points for me right now.

They now offer Robin hood "Gold" as margin to invest.  So they do have a way to make money now.  (I'm using it)

I'd you use TurboTax your trades import with a click.

Other features and tool?  Minimal to none, but as mentioned above it really is free.  That has made it worth it to me.  Super easy and simple to use.

bassman2003

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Re: Free stock from Robinhood
« Reply #5 on: May 13, 2017, 11:41:21 AM »
I use Robinhood for my fun money brokerage account.  It's been great thus far.  We use Vanguard for our 'serious' brokerage account.  Robinhood has super minimal features, on phone only.  Trading really is free.  Taxes are really easy if you use TurboTax, it's a one click import (just like many other main brokerages).  Since the features are so limited, I 'pair' it with the data/research from Morningstar.  I think a yearly subscription to Morningstar's full site is $200+, but I am able to log in for free using the institution access my library has using my standard library card number/password (from my home laptop).  So I get free top level data/research and free trading using the Robinhood/Morningstar combo.  All this free stuff could really encourage someone to over trade, which could really hurt returns....thus we just use for our fun money.  It doesn't have integration into Personal Capital yet, but since we don't factor our fun money into our net worth, it's not a huge deal.

MrsWolfeRN

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Re: Free stock from Robinhood
« Reply #6 on: May 13, 2017, 11:50:30 AM »
Hubby has Robin Hood for his own investment account. He likes doing individual stocks and it is a small percentage of our investments. The tax form was identical to the one I got from Wealthfront (yes, I moved most of my accounts from there to Vanguard). We use tax act so it took some data entry, but nothing too bad.

There is no Mint integration yet, we just log it as cash and update monthly.

Robin Hood does have a $50 withdrawal fee, so don't put money in there that you will need any time soon.

k-vette

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Re: Free stock from Robinhood
« Reply #7 on: May 13, 2017, 01:32:06 PM »
Hubby has Robin Hood for his own investment account. He likes doing individual stocks and it is a small percentage of our investments. The tax form was identical to the one I got from Wealthfront (yes, I moved most of my accounts from there to Vanguard). We use tax act so it took some data entry, but nothing too bad.

There is no Mint integration yet, we just log it as cash and update monthly.

Robin Hood does have a $50 withdrawal fee, so don't put money in there that you will need any time soon.

Are you sure about the $50 fee?  I've pulled money out several times and never had a fee charged.

OneCoolCat

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Re: Free stock from Robinhood
« Reply #8 on: May 13, 2017, 03:02:25 PM »
Robinhood makes interest on the non-invested money its users keep on their platform.  It adds up.  I love the app.

Hargrove

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Re: Free stock from Robinhood
« Reply #9 on: May 13, 2017, 08:48:48 PM »
Historically, the non-invested money doesn't take them far enough. Most of these services don't offer DRIP, in order to hold your money as long as possible. I kind of wish they would charge $1 a month to a debit card if they needed to get rid of the forgotten micro accounts that get abandoned on these platforms all the time.

Robinhood is only different in its margin features. They have great margin rates and instant margin access and sale settlement, which is a source of revenue nobody else in the free-broker sphere uses. Stockpile sells giftcards at outrageously marked up prices but has very low commission otherwise.

MrsWolfeRN

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Re: Free stock from Robinhood
« Reply #10 on: May 13, 2017, 08:54:03 PM »
He has had the account for about a year, and I think the fee was there when he signed up. He has never withdrawn anything though, so they may have changed their policy.

chuffly

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Re: Free stock from Robinhood
« Reply #11 on: May 13, 2017, 09:06:37 PM »
Appreciate all the feedback from the denizens of this forum. 

Not a huge fan of the fact that they have said they were going to integrate with Mint for the past two years, and it doesn't sound like they are anywhere close to making that a reality.  At the same, I realize their business model probably has them running pretty lean as far as staffing goes.  So I suppose one can't have it all.  At least with SigFig, I can manually create a portfolio and add stock shares for tracking.

I went ahead and took the plunge, using the OP's referral link - I guess we'll see what share Robinhood seems fit to gift me with.  Anyways, I figure it can't hurt to have an account, especially since I probably won't be holding much more than one share of BRK.B for the next few months. 

At the very least, I must say that I like the user interface, very slick and aesthetically pleasing.
« Last Edit: May 13, 2017, 09:11:41 PM by chuffly »

OneCoolCat

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Re: Free stock from Robinhood
« Reply #12 on: May 13, 2017, 09:21:48 PM »
Appreciate all the feedback from the denizens of this forum. 

Not a huge fan of the fact that they have said they were going to integrate with Mint for the past two years, and it doesn't sound like they are anywhere close to making that a reality.  At the same, I realize their business model probably has them running pretty lean as far as staffing goes.  So I suppose one can't have it all.  At least with SigFig, I can manually create a portfolio and add stock shares for tracking.

I went ahead and took the plunge, using the OP's referral link - I guess we'll see what share Robinhood seems fit to gift me with.  Anyways, I figure it can't hurt to have an account, especially since I probably won't be holding much more than one share of BRK.B for the next few months. 

At the very least, I must say that I like the user interface, very slick and aesthetically pleasing.

Let us know which free stock you got!

taiwwa

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Re: Free stock from Robinhood
« Reply #13 on: May 14, 2017, 05:40:39 AM »
Odd.

I checked my robinhood app. I don't see this offer from my referral screen.

k-vette

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Re: Free stock from Robinhood
« Reply #14 on: May 14, 2017, 09:08:12 AM »
Odd.

I checked my robinhood app. I don't see this offer from my referral screen.

It seems not everyone is getting the offer.  I don't know what the rules are for who gets it.

k-vette

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Re: Free stock from Robinhood
« Reply #15 on: May 14, 2017, 09:09:10 AM »
Appreciate all the feedback from the denizens of this forum. 

Not a huge fan of the fact that they have said they were going to integrate with Mint for the past two years, and it doesn't sound like they are anywhere close to making that a reality.  At the same, I realize their business model probably has them running pretty lean as far as staffing goes.  So I suppose one can't have it all.  At least with SigFig, I can manually create a portfolio and add stock shares for tracking.

I went ahead and took the plunge, using the OP's referral link - I guess we'll see what share Robinhood seems fit to gift me with.  Anyways, I figure it can't hurt to have an account, especially since I probably won't be holding much more than one share of BRK.B for the next few months. 

At the very least, I must say that I like the user interface, very slick and aesthetically pleasing.

Yes, very interested to see what they give you as well!   

zazpowered

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Re: Free stock from Robinhood
« Reply #16 on: May 15, 2017, 03:26:52 PM »
That offers sounds a little too good to be true. A free stock? Can anybody post once they receive their free stock? Curious to see what they are handing out. And Robinhood makes money from interest, selling deal flow and Gold membership which starts at $10 a month and is basically margin on a fixed price. They also raised $100m+ at a 1.3B valuation. I think they will do really well.

k-vette

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Re: Free stock from Robinhood
« Reply #17 on: May 15, 2017, 04:10:35 PM »
That offers sounds a little too good to be true. A free stock? Can anybody post once they receive their free stock? Curious to see what they are handing out. And Robinhood makes money from interest, selling deal flow and Gold membership which starts at $10 a month and is basically margin on a fixed price. They also raised $100m+ at a 1.3B valuation. I think they will do really well.

I tested by having my wife open an account.  Within 24 hours I had a new share of Xerox in my account.  She also received a similarly priced stock.

chuffly

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Re: Free stock from Robinhood
« Reply #18 on: May 15, 2017, 08:35:21 PM »
Appreciate all the feedback from the denizens of this forum. 

Not a huge fan of the fact that they have said they were going to integrate with Mint for the past two years, and it doesn't sound like they are anywhere close to making that a reality.  At the same, I realize their business model probably has them running pretty lean as far as staffing goes.  So I suppose one can't have it all.  At least with SigFig, I can manually create a portfolio and add stock shares for tracking.

I went ahead and took the plunge, using the OP's referral link - I guess we'll see what share Robinhood seems fit to gift me with.  Anyways, I figure it can't hurt to have an account, especially since I probably won't be holding much more than one share of BRK.B for the next few months. 

At the very least, I must say that I like the user interface, very slick and aesthetically pleasing.

Yes, very interested to see what they give you as well!

And my lucky stock is ... S (Sprint).

Well I suppose I can't look a gift horse in the mouth, still a free $7+.

chuffly

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Re: Free stock from Robinhood
« Reply #19 on: May 15, 2017, 08:42:28 PM »
That offers sounds a little too good to be true. A free stock? Can anybody post once they receive their free stock? Curious to see what they are handing out. And Robinhood makes money from interest, selling deal flow and Gold membership which starts at $10 a month and is basically margin on a fixed price. They also raised $100m+ at a 1.3B valuation. I think they will do really well.

Yeah, I saw when reading around the last day or two that they just hit the mythical unicorn status with their latest round of funding.  Makes me feel a bit better about their survivability.

And as of this afternoon, I can vouch for this offer being true.  While it's a nice bonus, it should be noted that my $7.87 share of Sprint likely won't be breaking the bank for Robinhood.

On the topic of brokerage signup bonuses, brokerage advertisements dangling some sort of carrot for opening an account isn't all that uncommon of an occurrence.   I did receive a cool $100 for opening a TD Ameritrade account about 3 years ago.  Granted I funded it with quite a bit more than the measly three figures I threw into this Robinhood account.   
« Last Edit: May 15, 2017, 08:48:02 PM by chuffly »

BreakTheChains

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Re: Free stock from Robinhood
« Reply #20 on: May 17, 2017, 11:09:28 AM »
I got Staples, around $9 bucks. Robinhood has a high enough valuation and have been around long enough for me to not be too concerned about them being fly by night. Can't wait to have my wife / parents sign up too, maybe we'll hit the lotto and get an AAPL share =) .Of course I'm planning on cashing these in ASAP .

threefive

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Re: Free stock from Robinhood
« Reply #21 on: May 17, 2017, 11:38:10 AM »
I assume these multiple referral threads will be taken down eventually, or at least combined. But ... I went ahead and signed up with Robinhood for the purpose of buying 1 share of BRK.A for the annual meeting passes.

Here is my referral link: http://share.robinhood.com/jamesm1336

Let's let some others get in on the referrals.

Vindicated

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Re: Free stock from Robinhood
« Reply #22 on: May 17, 2017, 12:02:24 PM »
I assume these multiple referral threads will be taken down eventually, or at least combined. But ... I went ahead and signed up with Robinhood for the purpose of buying 1 share of BRK.A for the annual meeting passes.

Here is my referral link: http://share.robinhood.com/jamesm1336

Let's let some others get in on the referrals.

I spread the love around by using your referral link threefive!

I haven't received my free stock yet.  How long does it take?

http://share.robinhood.com/danielg954

Now someone use mine! :D

Vindicated

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Re: Free stock from Robinhood
« Reply #23 on: May 17, 2017, 12:08:14 PM »
Oh, you have to select the card on the homepage for your free stock.  I got Xerox too.  Better than nothing!

BreakTheChains

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Re: Free stock from Robinhood
« Reply #24 on: May 17, 2017, 12:19:44 PM »
Might as well post my referral link as well if anyone is feeling like doing a referral chain, its a nice idea to spread around the referrals instead of one person getting all of them.

http://share.robinhood.com/toml67

Sean Og

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Re: Free stock from Robinhood
« Reply #25 on: May 20, 2017, 08:48:09 AM »
Thanks for this thread!  I signed up using BreakTheChains link.

Here is mine: http://share.robinhood.com/johnd875

Westward

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Re: Free stock from Robinhood
« Reply #26 on: May 20, 2017, 01:55:31 PM »
I'm a newbie who has been lurking for quite some time.  I used Sean Og's link if anyone would be willing to use mine:

http://share.robinhood.com/sarahm144

RetirementDreaming

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Re: Free stock from Robinhood
« Reply #27 on: May 21, 2017, 08:47:24 AM »
I used Westward's link.  I got HPE at 18.36. 

Here is my link if anyone would be willing to use mine: 

http://share.robinhood.com/melanir17


Thanks.

MaaS

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Re: Free stock from Robinhood
« Reply #28 on: May 22, 2017, 12:54:59 PM »
Clever promotion and cool thread. I'm loving the simplicity of Robin Hood.. I can definitely see the appeal.

If anyone is in the mood to "pass it on" here's mine:

http://share.robinhood.com/austins495

May the odds forever be in your favor and cheers to getting Apple!


nawhite

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Re: Free stock from Robinhood
« Reply #29 on: May 23, 2017, 03:35:09 PM »
I used MaaS's link. I got one share of Cousins Properties Incorporated (CUZ) ($8.62)

Pass it on :-)

http://share.robinhood.com/nikw1

CanuckExpat

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Re: Free stock from Robinhood
« Reply #30 on: May 24, 2017, 07:49:16 AM »
I used MaaS's link. I got one share of Cousins Properties Incorporated (CUZ) ($8.62)

I used nawwhite's link, also got a share of CUZ.
Here is mine:
http://share.robinhood.com/sajendn

nawhite

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Re: Free stock from Robinhood
« Reply #31 on: May 24, 2017, 11:25:49 AM »
I used MaaS's link. I got one share of Cousins Properties Incorporated (CUZ) ($8.62)

I used nawwhite's link, also got a share of CUZ.
Here is mine:
http://share.robinhood.com/sajendn
Holy cow! Thanks CanuckExpat, I got a share of Exxon with that ($82.05)!

Vindicated

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Re: Free stock from Robinhood
« Reply #32 on: May 24, 2017, 11:28:37 AM »
Woohoo!  Congrats!

I made about $33 between 4 referrals, and sold my shares today.  It says I can't withdraw them for 5-6 days of sitting in cash though.  Oh well, $33 I didn't have before :).

Heroes821

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Re: Free stock from Robinhood
« Reply #33 on: May 24, 2017, 11:51:14 AM »
They have a promotion going on now.  Open an account from a referred friend and they give you both a free stock.  I couldn't find anyone mentioning it so figured I'd pass it along.  Ask your friends who use it if they have a referral link!

If you don't, welcome to use mine.  "Join Robinhood and we'll both get a share of stock like Apple, Ford, or Sprint for free. Make sure you use my link. http://share.robinhood.com/kylec189"

Seems like the app is slowly improving and features are getting added.  So far so good.  :)

Used your referral and just signed up, it is pending approval.... we'll see what I get.

CanuckExpat

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Re: Free stock from Robinhood
« Reply #34 on: May 24, 2017, 11:51:48 AM »
I used CanuckExpat's referral, here's mine. http://share.robinhood.com/jinnav I also got CUZ.

Thanks. I got Office Depot ($5) :(
It's not Exxon, but I'll take it haha.

This was mainly for fun, can I have these sit in my account and collect the few pennies every quarter in dividends? Where do the dividends go?

Heroes821

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Re: Free stock from Robinhood
« Reply #35 on: May 24, 2017, 12:06:36 PM »
I got VER (8.16$) a REIT company. Nice.

Got my referral link if anyone is willing: http://share.robinhood.com/michael1545

jdhansen

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Re: Free stock from Robinhood
« Reply #36 on: May 24, 2017, 12:09:04 PM »
I used CanuckExpat's referral, here's mine. http://share.robinhood.com/jinnav I also got CUZ.

Thanks. I got Office Depot ($5) :(
It's not Exxon, but I'll take it haha.

This was mainly for fun, can I have these sit in my account and collect the few pennies every quarter in dividends? Where do the dividends go?

Dividend just go into a cash account on the app.

Roboturner

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Re: Free stock from Robinhood
« Reply #37 on: May 24, 2017, 12:23:40 PM »
I got VER (8.16$) a REIT company. Nice.

Got my referral link if anyone is willing: http://share.robinhood.com/michael1545

Thanks Heroes,

HAHA I got Chesapeake Energy :( garbage natural gas weighted company at $5.60 haha

here's mine http://share.robinhood.com/matth232

witzig

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Re: Free stock from Robinhood
« Reply #38 on: May 26, 2017, 09:35:52 AM »
I used Roboturner's link and got CUZ (8.57)

My link if anyone wants to use it:  http://share.robinhood.com/jennifd109

joejac88

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Re: Free stock from Robinhood
« Reply #39 on: June 14, 2017, 07:03:11 AM »

 I  use robinhood also. I mainly invest in monthly stocks and funds. My main focus is VTSAX index fund,

CanuckExpat

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Re: Free stock from Robinhood
« Reply #40 on: August 15, 2017, 09:00:10 PM »
How is the free stock handled taxes wise? Capital gains for the whole amount when you sell?

Platypuses

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Re: Free stock from Robinhood
« Reply #41 on: August 16, 2017, 09:41:27 AM »

I just signed up using Witzig's link. If anyone would like to use mine http://share.robinhood.com/ryanm1948
Got a share of SIRI (5.58)

Thanks
« Last Edit: August 16, 2017, 09:47:00 AM by Platypuses »

Dollar Slice

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Re: Free stock from Robinhood
« Reply #42 on: August 16, 2017, 01:18:39 PM »
Honestly though, does 10-15% of $4 matter to... anyone?

I'll be more annoyed at having to fill out an extra tax form or something... :-)

I signed up a week or two back with someone's link here and got Groupon. Not a big win but I'll take it! Referral link in my sig if anyone wants to use it.

martyconlonontherun

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Re: Free stock from Robinhood
« Reply #43 on: August 16, 2017, 02:15:46 PM »
I've been interested in opening up an account with Robinhood, as a I want to buy a share of baby Berkshire to get be able to attend the shareholder meeting next year. 

Are you actually the shareholder on record or is Robinhood? Not sure if you have enough proof of being a shareholder to get a credential.

CanuckExpat

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Re: Free stock from Robinhood
« Reply #44 on: August 16, 2017, 03:29:47 PM »
Honestly though, does 10-15% of $4 matter to... anyone?

Not quite the amount, but for planning purposes. First year controlling my income to be whatever we want for tax purposes so being extra careful. Probably wouldn't be the straw that broke the camels back, but it would be funny if something like this put us $4 over ACA subsidy threshold or something..

Michael in ABQ

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Re: Free stock from Robinhood
« Reply #45 on: August 16, 2017, 03:56:56 PM »
I signed up using a referral link from someone in another thread. I got Zynga ($3.62). Definitely not a stock I would normally buy considering their EPS is $0.01. I put a couple hundred bucks in there and might play around a bit but I learned some expensive lessons with individual stocks about a decade ago when I was heavily weighted in financial stocks. I'm happy with a couple of index funds now.

http://share.robinhood/michaes3703

mc6

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Re: Free stock from Robinhood
« Reply #46 on: August 17, 2017, 11:55:15 AM »
So are folks reasonably happy with Robinhood?  I'm intrigued.

nawhite

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Re: Free stock from Robinhood
« Reply #47 on: August 17, 2017, 01:07:58 PM »
So are folks reasonably happy with Robinhood?  I'm intrigued.

I'm happy with the fact they've given me $150 in free stock. :-) Does that count?

Seriously though, I'm really annoyed with the fact that they don't have a webapp. I can only access my account with a cell phone which is god-awfully stupid. They also don't put units on their price graphs which make them worse than useless. They'll do push notifications for earning reports and earnings calls which is cool if you're into that sort of thing but meaningless if you're not. Overall, I used them to buy a single Berkshire share because the buy order was free and I could get a discount on my Geico insurance but I'll be selling all of the shares they've given me.

martyconlonontherun

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Re: Free stock from Robinhood
« Reply #48 on: August 17, 2017, 02:36:29 PM »
So are folks reasonably happy with Robinhood?  I'm intrigued.

Its an entertainment ap that is free. Me and a few friends/coworkers each put in $25 a month and we compete who has a better portfolio daily/multiple times a day. I'm not ego-tistical enough to put any real money into random stock that I pick, so it is only a small amount I use for fun. It's like fantasy football, but everyone comes out ahead in the end.

The earnings call alerts are pretty cool to listen to.

Michael in ABQ

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Re: Free stock from Robinhood
« Reply #49 on: August 17, 2017, 03:25:49 PM »
So are folks reasonably happy with Robinhood?  I'm intrigued.

It's kind of a gimmick. It's obviously oriented to people who will swipe left/swipe right to buy or sell a stock. There's little information aside from a simple daily/weekly/monthly/annual chart and some very basic financial information and news links. I bought a share of Berkshire Hathaway Class B shares today for about $175. 20 minutes later it had gone up $0.50 and I was half tempted to sell it and just lock in the gain knowing that there was no transaction fee. However, treating it like that is little more than gambling.

It's free to trade which is a big plus as even a $5-7 commission adds up if you're only working with a few thousand dollars. If you do your research elsewhere (like with a free Morningstar subscription through your local library) it can certainly make sense.

And hey, getting a few dollars of free stock isn't bad for the 5 minutes it takes to setup an account. 

http://share.robinhood.com/michaes3703
« Last Edit: August 25, 2017, 04:31:03 PM by Michael in ABQ »