How to Set Up RobinHood
This post is going to be about the ins and outs of using the app Robinhood as an investing platform. For this tutorial I will be using Robinhood on the IOS platform, and covering some basic roles of the application.
Getting the Bank connected
The first thing that you need to do once you have signed up for Robinhood would be to add funds into the account. This is a very easy course of action and can be done by linking an existing bank account to the app. If you tap the profile image on the left hand side of the app it will open another menu with the option that says banking. At this point if you select “move to Robinhood” the app will pop up with options to set up your bank account. Now this course of action may take a associate days as it tests that the account is viable by depositing two small amounts and having you confirm them. Once you get the account confirmed you will move an amount into the application.
Finding a stock to invest in
Now you are all set to invest! IF you open the application again and go to the top right and find the search bottom if you have stocks you know already you want to invest in you can. Otherwise the main menu has preset favorites that you can invest in. If you click onto the stock it will give you tons of information. This contains things such as current selling prices and all-time highs and lows. Beneath the initial graph of the stock there will also be favorites where based on the stock you’ve chosen the app gives suggestions on other categories you may want to invest into.
Buying or Selling a stock
Once you have found a stock that works for you in the bottom right hand corner depending on the setting you choose it will say Buy/ Sell, or Trade. If it says Buy or Sell, Select the option you would like and it will open the next window. If it says Trade, then hit trade and those other options should open up. At this point it will ask you how much you want to buy or sell of the stock. It will also show you the amount it will buy or sell for and how much money you have in your account at the moment. When you are selling one thing to keep in mind is sometimes it takes a associate minutes for the stock to course of action and sell. This may change the selling price.
Hopefully by following these steps you are able to navigate Robinhood a little bit better and make your first investment.