Robinhood Streaming Quotes
Investors at Robinhood (read review) receive free real-time
streaming stock quotes, also called Level I quotes.
Level II Quotes at Robinhood
Level II quotes or NASDAQ TotalView, which provide more in-depth information and used by professionals who trade for living, are available only at Robinhood
Gold account which comes with $5 monthly fee. Robinhood does not provide IRA accounts, mutual funds, bonds, dividend reinvestment plan (DRIP) and an automatic investment plan. Its main $0 commission competitor,
Firstrade (read review) offers all of these services and more.
The lack of free Level II quotes at Robinhood is especially a disappointment when compared to some of the brokers' competitors,
who do offer this useful service for free. TD Ameritrade clients,
for example, receive Level II data at no charge. TD Ameritrade also charges $0 for stock and ETF trades.
Open TD Ameritrade Account
Robinhood Review
Robinhood users can only trade through the app. The company's website and for creating new account and FAQs and it does not have trading functionality.
This is the menu which is accessed by tapping on the symbol that looks like a person on the upper right of the app’s screen. Here, Robinhood breaks down your assets. Stocks + Cash is the total value of the trader’s account while stocks and cash are their respective portions of that total. One’s buying power may differ from their amount of cash because of the three day delay on funds from sold shares. Users may also continue to scroll down to see their order history or dividend that they have received or are due to receive.
Further down the menu, users will find the selection to transfer funds from their bank account to their Robinhood FINRA and SIPC) account.
This is the page used to complete the task. Users can enter and dollar and cents amount. Funds up to $1,000 are immediately available for
trading. Fund transfers usually withdraw from the investors bank account within one to two days. There is also the option to set up
automatic deposits from one’s bank to their Robinhood account. Transfers can be scheduled weekly, biweekly, monthly, or quarterly.
These three screenshots for Square are what the app displays when they select a stock from their homepage.
Starting at the top and going down, users will see:
- The current trading price with the percentage of change underneath
- The graph representing trade price movement
- Buy and Sell selections
- A bar which depicts the number of shares owned, the equity value of those shares, and the average cost of those shares.
Further down are the “Stats” for the selected stock. Then an overview of the users order history. An finally a brief description of the company as well as a pie chart showing how much of the owner’s portfolio is invested in the selected stock.
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