Robinhood is a major global player as far as brokerages go, and it’s recently had a major impact on the crypto market. Robinhood supports the trading of shares, fractional shares, recurring investments, and seven of the largest cryptocurrencies on the market, making it an ideal fit for equity investors who want to invest in crypto as well.
However, Robinhood's free stock referral program is pretty weak, with the vast majority of the free stocks only worth between $1 – $10. Instead, I recommend you capitalize on these much more lucrative signup bonuses, which are also easier to claim than the Robinhood free stock:
- Claim a $15 signup bonus with TopCashback after your first purchase.
- Claim a $50 bonus + 6-16 free stocks with Moomoo after depositing $100 or more.
- Claim 6-12 free stocks with Webull after depositing $100 or more.
What Is Robinhood?
Robinhood is a US-based financial services company that offers commission-free trading of stocks, mutual funds, exchange-traded funds (ETFs), options, and cryptocurrencies through its mobile app and website. It is designed to make investing accessible to everyone, regardless of their level of experience or wealth.
Robinhood is a major global player as far as brokerages go, and it’s recently had a major impact on the crypto market. It supports 7 cryptocurrencies, making it an ideal fit for equity investors that want to invest in cryptocurrency as well.
Robinhood supports stocks, bonds, ETFs, options, and crypto. If you’re looking for mutual funds, forex or future investments, Robinhood is not for you.
How To Use Your Robinhood Referral Code
Robinhood has a referral program for new traders. When you sign up with Robinhood using our referral link (or our referral code YOREOYSTER) and link it to your bank account you will receive a free stock. This stock could be anywhere from $3 to $225; The value of the stock fluctuates with the market.
You will also receive your own referral code, which you can use to invite friends and earn a free stock when they link their bank account to their Robinhood account. Keep in mind you can earn a maximum of $500 worth of stocks per year.
To use the promo code:
- Visit Robinhood‘s page. Click on the Sign Up button.
- Fill in some of your basic information.
- Download the Robinhood app.
- Finish the sign up process.
- Claim your free stock. (important: you can only claim your free stock if you use our referral link).
(We’ve included the complete sign-up process on the How To Sign Up With Robinhood section).
What Cryptocurrencies Does Robinhood Support?Â
Robinhood currently supports 7 cryptocurrencies: Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic, and Litecoin.
Robinhood Features
Some of Robinhood’s top features include:
- Zero or low trading fees on most trades
- Fractional shares are supported, allowing you to buy a portion of a share
- Support for 7 cryptocurrencies with more being added regularly.
- Strong cash management and recurring investment features
Robinhood Fees
- No minimum account balance required
- No monthly fees
- No inactivity fees
- Commission-free trading on shares
How To Get Your Robinhood Free Stock
#1 Visit Robinhood‘s page. Click on the Sign-Up button.
#2 Fill in some of your basic information and create a password.
#3 To continue the process click the Get The App button and download the official app from the app store.
#4 Finish the sign-up process.
#5 If you used our referral link you can claim your free stock by clicking the Claim your free stock now button.
#6 If you are interested in crypto you can also sign up for the Robinhood Crypto waitlist.
Robinhood’s Referral Program
Like Charles Schwab, Moomoo, Webull and other popular brokers, Robinhood offers a referral program. After creating your Robinhood account and linking your bank account, you will receive your free stock; you will also receive your referral code; you can find it by opening the app and tapping on your profile. Tab the Get Free Stock button then tap Invite Contacts. Tap the friends you’d like to refer. After you receive your referral link, you can:
- Share your code via text, email, or to your social media audience.
- Once a referee signs up and links his bank account you will both receive a free stock.
- There’s no limit to how many people you can invite.
Is Robinhood Safe & Legit?
Robinhood, like most brokerage firms, is regulated by the Securities and Exchange Commission (SEC). It also is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation.
In Summary
Robinhood's free stock promotion sounds good on the surface, but when you dig into it, it's pretty weak, with the overwhelming majority of free stocks only worth between $1 – $10.
If you want to maximize your earnings, I recommend you capitalize on one of the more lucrative signup bonuses below:
- Claim a $15 signup bonus with TopCashback after your first purchase.
- Claim a $50 bonus + 6-16 free stocks with Moomoo after depositing $100 or more.
- Claim 6-12 free stocks with Webull after depositing $100 or more.
