
On January 29, 2021 – in the midst of the historic Reddit Gamestop small investors vs. hedge fund “short squeeze” frenzy, more than 600,000 people downloaded the Robinhood trading app.
Despite being cast as the bad guy, new investors signed up for Robinhood in droves. The company’s zero balance requirement and low fee structure make it appealing to everyone.
Bloomberg’s headline read “Robinhood Traders Bash the App But Just Can’t Leave It.” The classic hate it, but won’t quit it, scenario. Sounds like a lot of people and their jobs. We push past our reservations, reasoning that a better option just isn’t out there. There is certainly no shortage of options for commission free trading. Options in 2021 include InteractiveBrokers, Sofi, Ally Invest, Webull, TD ameritrade, Merrill Edge, You Invest by J.P. Morgan, Vanguard, Fidelity, and Charles Schwab. And the list goes on.
Continue reading “Should You Invest with Robinhood or Webull in 2021? A Consideration of Options and Alternatives”