What is Robinhood?
Robinhood is an online trading platform that was founded in 2013 by Vladimir Tenev and Baiju Bhatt.
The free app allows users commission-free trades of stocks and exchange-traded funds and has grown to include cryptocurrency and banking.
Prior to Robinhood’s release, it was common for other trading platforms to have minimum investment requirements and to charge every time a user made a trade. Robinhood felt these barriers were keeping out everyday people from investing.
The app grew in popularity during the COVID-19 pandemic as people stuck at home turned to amateur investing.
Due to its low fees and simple, colourful interface, the app has been largely targeted at younger investors.
How can I invest with Robinhood?
It’s important to note that Kiwis can’t use the Robinhood share trading platform to invest.
To open a Robinhood account you need:
- To have a US social security number
- A permanent US address
- To be a US citizen, permanent resident, or have a valid US visa
However, because Robinhood is a publicly listed company, you can invest in stocks of Robinhood through online trading platforms such as Stake and Sharesies, which allow you to invest in US markets.
About the author of this page
Bruce Pitchers is Canstar NZ’s Content Manager. An experienced finance reporter, he has three decades’ experience as a journalist and has worked for major media companies in Australia, the UK and NZ, including ACP, Are Media, Bauer Media Group, Fairfax, Pacific Magazines, News Corp and TVNZ. As a freelancer, he has +worked for The Australian Financial Review, the NZ Financial Markets Authority and major banks and investment companies on both sides of the Tasman.
In his role at Canstar, he has been a regular commentator in the NZ media, including on the Driven, Stuff and One Roof websites, the NZ Herald, Radio NZ, and Newstalk ZB.
Away from Canstar, Bruce creates puzzles for magazines and newspapers, including Woman’s Day and New Idea. He is also the co-author of the murder-mystery book 5 Minute Murder.
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