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You need to have a gadget that meetsour requirements for technology. And to be qualified for a Robinhood account,you must properly complete each of the following requirements.
● Mustbe eighteen years or older.
● Havean official Social Security number.
● Possessan official residential address in either Puerto Rico or one of the 50 states.
● Hold a valid U.S. visa, be acitizen, or be a legal resident of the country.
Robinhood offers investment accountswith no fees and low deposit needs.
Creating a Robinhood account isquicker than warming food to watch TV. to start trading stocks and investing in mutual funds on this well-known site.
How to Open a Robinhood Account?
1. Create a personal page. Go to theRobinhood sign-up page and select "Create a Profile."
Based on the spelling of your legaltitle that is displayed on this page. You will continue with other important information.
Including your nation, telephone number,residence the spot, and date of birth. Once you have completed this, you will go to the next stage.
2. Confirm who you are. Your numberfor social security will be needed for Robinhood to verify your identity.
Rest confident that the program issafe, and that the Social Security number has been delivered over an unbroken link.if you choose not to turn it in. Tobe brief. Your Social Security Number must be provided to all broker dealers, per the rule.
To verify that you do not possessany terrorist or bank accounts. Choose Continue Moving on to move to the next screen if you are not one of those.
3. Experience with investments.Concerns over your involvement in this portion of the funding will be raised. when you have no idea.
A little quantity of experience, astronger foundation than typical, or financial investment potential. It is something you will inform Robinhood of.
If free of commissions optionstrading is something you want to allow, the app will ask. Trading choices refers to the process of buying and selling options contracts.
As soon as you are an expert, itmight be interesting. If trading options is something you are interested in, anyway. Follow the process to know Howto Open a Robinhood Account?
Upon turning this on and addingadditional responses. It is possible to check if you approve.
Upon reading of your response to theoptions trading query.
Robinhood will inquire for certainwork-related details. It will then inquire as to whether you or any family members have traded shares for stock used by a firm.
If you or someone in your familyworks as an executive for a company as a director. You must click continue to proceed to the next stage after finishing this page!
4. Review the contracts. ByRobinhood, you will have to verify two separate duties.
The brokerage contract and the taxreceipt. Contact Robinhood Customer Service with any questions.
That requests that you confirm theaccuracy of the data you provide. After reading them, select
"Approve" to go to the other process.
5. Add funds to your account. All ittakes is $1 to fund your Robinhood account. Adding money to a wallet is as easy as establishing a Plaid connection with a bank.
The bank you wish to use to financethe account is up to you. Among the options listed below is the opportunity to add money to the profile later.
Read Also: What you require to begin robinhood
This will enable you to send moneyto the account later using the Robinhood app. and proceed to the following application process.
What are the pros and cons of using Robinhood?
Benefits
● UsingRobinhood is known for being simple.
● Broadsupport for cryptocurrencies with no prices, price reductions, or charges.
● There is some incredibly talentedwriting in the Learn part of Robinhood.
Negative
● Fordata and research available at most other brokerages for free, Robinhood
requires a $5 monthly gold tier subscription.
Read Also: Is Robinhood Safe to Use
● Theonly investment options available are funds traded on exchanges, bitcoin,
listed stocks, and options.
● For those who trade, there are notsufficient tools.