How To Buy Robinhood Shares – Our Top Investment Platform/Apps 2021
6 Steps to buy Robinhood shares…
What the right platform is for you will depend on your requirements.
- How do you buy Robinhood shares using a platform?
- 6 Top Picks for buying Robinhood shares
- How do you pick a trading platform?
- Why use a trading platform to buy Robinhood shares?
How do you buy Robinhood shares using a trading platform
Once shares become available then a trading platform app that offers access to the US market is an option.
Our view: The next generation of online trading platform apps means you can buy shares in as little as 5 minutes!
- Select a share platform – See below our 6 top platform picks
- Open your share account – To do this you will need your bank details and national insurance number
- Fund your account – You will need to fund your a/c with a debit or credit card or bank transfer
- Search for the share using “HOOD” – Type “HOOD” into the search box
- Check out the latest info and price for the selected share – Some platforms offer free research and analysis
- Buy the share – Nice and easy!
eToro – Buy Shares without paying commission
eToro is the world’s largest community of traders and investors, numbering more than 10 million from more than 140 countries.
One of the attractions of eToro as a platform is the ability to participate in copy and social trading. CopyTrader is eToro’s most popular feature and allows you to view what traders are doing in real time and copy their trading automatically. If you are a beginner learning the basics or simply don’t have time to watch the markets, this feature allows you to leverage other traders expertise.
Capital is at risk.
- 0% commission on share investing
- Free account
- Copy trading – follow successful traders
- Editors choice: Great for new traders!
6 Top picks for buying Robinhood shares
Share Dealing Comparison
|Trading Platforms:||Features:||Cost Per Trade From:*||Go To Site:|
|eToro open a free share trading account. Free access to TipRanks expert share analysis.||0% commission||See Deal »|
|Fineco Bank has 1.3 million clients. No inactivity charges.||£2.95 UK shares||See Deal »|
|Freedom 24 offer lowest fees in Europe. Listed on NASDAQ.||€2.25||See Deal »|
|Hargreaves Lansdown The UK's #1 broker. Price improvement service helps you get the best price for your shares.||£5.95||See Deal »|
|AJ Bell offers overseas trading in 24 international markets.||£1.50||See Deal »|
|Interactive Investor are the UK's #1 flat fee platform. Over 350,000 customers.||£7.99||See Deal »|
Why use a trading platform to buy Robinhood shares?
You don’t have to buy and sell UK shares using a share platform to manage your investments.
You could go down the old school route using a stockbroker directly to buy and sell investments.
This can involve lots of paperwork and waiting for the postman to send you paper statements which for some people may be perfectly adequate.
Your preference may be to deal with a real person to make things happen – whilst this can work it can be slow and cumbersome and potentially more expensive.
The good news is that with advances in technology, investors now have significant choice when buying UK and international shares.
Benefits of using a trading platform include:
- Lower trading costs
- Easy access to the UK and international stockmarkets
- 24/7 access to your investments
- You can hold all your tax efficient investments such as ISAs and SIPPs in one place: including lifetime ISAs, right to buy ISAs and junior ISAs
- Plus any other fund holdings or shares that you’re trading outside of a tax-free environment, from a general trading account
How do you pick a trading platform?
Trading platform services offered vary widely, and so do the costs.
5 things to consider:
1. Do you just want to trade Robinhood shares?
Not all investment platforms allow you to trade all shares on all markets.
If your focus is on UK shares then there is an extensive choice of options.
If you want to invest further afield then you need to ensure the platform you choose is right for you.
2. Do you want to do a lot of trading?
Active investors will want to look for a platform that offers the lowest fees for volume trades.
If you are going to trade shares regularly most trading platforms will offer lower trading prices based on volume.
3. What types of trading account are offered?
Some trading platforms offer as well as general trading accounts, ISA accounts and Self Invested Personal Pension Accounts which offer tax free trading benefits (no tax on dividends or capital gains tax on realised profit).
4. Trading just Robinhood shares?
If you also interested in investing or trading in funds then this again may determine who you go with.
If you are interested in ETFs, Investment Trusts, Open Ended Investment Companies (OEICs) or Unit Trusts then you will need to check with the platform provider what is available. e.g. Some platforms only offer a limited number of collectives such as OEICs.
Charging structured for funds held on the platform will vary. Over time the impact of such charges can be significant. Check the platform charging structure carefully.
5. How easy is this trading platform to use & what kind of features does it offer?
How easy is the platform to use to buy and sell UK shares?
Platform functionality is becoming the key battleground in persuading traders which platform to select.
Mobile app features are also key in offering traders alerts and buy/sell signals whilst on the move.
These are often the criteria that count most highly with users, so do some research and read the reviews.
Many investors are prepared to pay a bit more in fees for a platform that offers really useful apps and services.
No news, feature article or comment should be seen as a personal recommendation to invest. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular plan. If you are at all unsure of the suitability of a particular product, both in respect of its objectives and its risk profile, you should seek independent financial advice.
The value of shares, ETFs and ETCs bought through a share dealing account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 67%-75% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.
Tax treatment of ISAs depends on your individual circumstances and is based on current law which may be subject to change in the future. ISA transfer charges may apply, please check with your provider.