How to Buy Robinhood Stock – Buy Robinhood Stock With 0% Commission

Fact Checked by Gary McFarlane

Robinhood – the popular US-based stockbroker, is now a publicly-traded company. Listed on the NASDAQ exchange, you can easily purchase Robinhood stocks from any online trading platform that gives you access to this marketplace.

In this guide, we’ll show you how to buy Robinhood stocks in under five minutes without paying any commission.

Table of Contents

#1 Broker to Buy Robinhood Stocks – eToro

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How to Buy Robinhood Stocks – A Quick Guide For 2021

If you want to skip our comprehensive guide and instead learn how to buy Robinhood stocks right now – the step-by-step walkthrough below is for you.

In less than five minutes, you will be able to open an account with 0% commission broker eToro and buy Robinhood stocks from a minimum investment of just $10.

  • Step 1: Open an Account with eToroTo buy Robinhood stocks at 0% commission, you will first need to open an account with eToro. This process is both fast and burden-free at eToro and simply requires some personal information from you.
  • Step 2: Upload Your ID – To finalize the account opening process, upload some ID. This will get your account verified near-instantly.
  • Step 3: Deposit Funds – The minimum first-time deposit at eToro is $50 and you can choose from a debit card, ACH, online banking, Paypal, and several other payment types. No fees apply when you deposit funds in US dollars.
  • Step 4: Search for Robinhood – At the top of the page, enter ‘Robinhood’ into the search box. Click on the ‘Trade’ button when you see the stock appear.
  • Step 5: Buy Robinhood Stocks – You will now see an order box. Here, you need to specify how much money you want to invest in Robinohod stocks. The minimum at eToro is just $10.

To complete your purchase of Robinhood stocks, click on the ‘Open Trade’ button.

67% of retail investor accounts lose money when trading CFDs with this provider.

How To Buy Robinhood Stocks – Choose a Stockbroker

You will also need to select an online broker when you learn how to buy Robinhood stocks. Below you will find a list of pre-vetted providers that are worth considering.

  1. eToro – Overall Best Place to Buy Robinhood Stocks
  2. Webull – Buy Robinhood Stocks at 0% Commission
  3. Fidelity – Invest in Robinhood Stocks From Just $1
  4. Interactive Brokers – Trade Robinhood Stocks at 0% Commission
  5. Zacks Trade – Top Broker for Advanced Traders
  6. Robinhood – Great US-Based Broker for Beginners
  7. SoFi – Invest in Robinhood via Fractional Shares
  8. E*TRADE – Good Broker for Long-Term Investments
  9. Merrill Edge – Online Brokerage With a Variety of Investment Accounts
  10. Ally Invest – Challenger Bank Offering Low-Cost Stock Investments

You will find reviews of the above brokers further down on this page.

Where to Buy Robinhood Stocks  – Full Stockbroker Reviews

When choosing the best broker to buy Robinhood stocks from, it’s a good idea to stick with platforms that waiver commissions. Additionally, the best platforms in this space allow you to buy fractional stocks, which is particularly appealing to those on a budget.

In the sections below, we review the best investment platforms that allow you to buy Robinhood stocks online in a cost-effective way.

1. eToro – Overall Best Place to Buy Robinhood Stocks

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eToro stood out for us as the best place to buy Robinhood stocks online – especially when it comes to cost-effectiveness and safety. Regarding the former, eToro allows you to invest in stocks at 0% commission. This is not only the case with stocks listed in the US but more than a dozen international markets. This is inclusive of markets in the UK, Europe, Asia, and more. Furthermore, when you buy Robinhood stocks via eToro, you will only need to meet a minimum investment stake of $10.

This is because eToro supports fractional investments on all of its supported stocks. This $10 minimum is also applicable to ETFs and cryptocurrencies like Bitcoin. When it comes to safety, eToro is regulated by the SEC, FCA, and several other financial bodies. This FINRA-approved broker is now used by over 20 million clients, so eToro has a great reputation across the board. We also like eToro for its commitment to passive investment tools.

etoro app review

This is inclusive of a Copy Trading feature that allows you to copy other eToro members. For example, in electing to copy a successful stock trader that uses eToro, all future positions will be mirrored in your account. You will also find dozens of CopyPortfolios, which are managed by the team at eToro. These track various markets and strategies – and subsequently offer a great way to invest in the financial markets without having any prior experience.

Once you have opened an account with eToro – which shouldn’t take you more than a few minutes, you can deposit funds with a variety of payment methods. The minimum here starts at $50 for new customers and supported deposit types include debit/credit cards, e-wallets like Paypal, and online banking. Best of all, US clients are not charged any deposit fees regardless of the payment method being used. And finally, your eToro account can also be accessed online or via the platform’s iOS/Android mobile app.

Pros

  • Invest in stocks at 0% commission
  • Minimum investment per stock is $50
  • Supports debit/credit cards, e-wallets, and bank transfers
  • Regulated by the SEC, FCA, ASIC, and CySEC
  • Used by over 20 million people
  • Perfect for beginners
  • Social and copy trading tools

Cons

  • Perhaps too basic for technical traders
  • No support for MT4 or MT5

 67% of retail investor accounts lose money when trading CFDs with this provider.

2. Webull – Buy Robinhood Stocks at 0% Commission

webull review

Although the broker is a direct competitor, you can still buy Robinhood stocks at Webull with ease. All you need to do is register an account, transfer some funds from your bank, and decide how many shares you wish to purchase. At Webull, you can invest in Robinhood via fractional shares and there is no minimum deposit to meet.

webull review

Furthermore, Webull does not charge any commissions when you trade stocks, options, ETFs, or digital currencies. In choosing this broker, you will also have access to margin trading tools, albeit, this will require a minimum account balance of $2,000. You will also have access to retirement accounts at Webull. Finally, Webull offers a super-popular mobile app across both iOS and Android.

Pros

  • Thousands of US-listed stocks
  • 0% commission trading
  • Also supports ETFs and stock options
  • No minimum deposit

Cons

  • No support for debit/credit card deposits
  • Very limited selection of non-US stocks
  • Spreads can be somewhat high
  • Wire transfer withdrawals cost $25 per transaction

at eToro, #1 Online Broker

 67% of retail investor accounts lose money when trading CFDs with this provider.

3. Fidelity – Invest in Robinhood Stocks From Just $1

fidelity review

One of the most attractive features offered by Fidelity is its Stock Slice tool. Put simply, this allows you to buy US-listed stocks like Robinhood from just $1 upwards. This means that even those on a really small budget can build a diversified portfolio of stocks. Furthermore, when you purchase US-listed stocks at Fidelity, you will not pay any trading commissions.

We also like the fact that Fidelity does not require a minimum deposit on self-directed investment accounts. Alongside US-listed stocks, Fidelity also gives you access to companies listed overseas. Alternative asset classes supported here include mutual funds, ETFs, bonds, and more. You can also access IPOs when choosing Fidelity as your go-to broker.

Pros

  • Trusted US-based brokerage
  • $0 commission on US stocks and ETFs
  • Stock Slice tool allows fractional investments of $1

Cons

  • Perhaps too complex for newbies
  • Non-US assets come with high fees

at eToro, #1 Online Broker

 67% of retail investor accounts lose money when trading CFDs with this provider.

4. Interactive Brokers – Trade Robinhood Stocks at 0% Commission

Interactive Brokers

Interactive Brokers is another US-based broker that allows you to buy Robinhood stocks at 0% commission. This is also the case with all other stocks and ETFs listed on the NYSE and NASDAQ. We would argue that Interactive Brokers is a better fit for those with prior experience of investing online. This is because the platform offers lots of research tools and technical indicators via its IBKR software.

Interactive Brokers

We also like Interactive Brokers for its support for international markets. This includes exchanges and markets across Asia, Europe, Latin America, and more. There is no minimum deposit requirement at Interactive Brokers and US-listed stocks can be purchased in small fractions. Interactive Brokers also offers other asset classes – such as mutual funds, managed portfolios, and fixed-income bonds.

Pros

  • Thousands of investments across 135 markets
  • Advanced trading platform for seasoned investors

Cons

  • Low fees only offered on US-listed stocks
  • Too complicated for beginners
  • Debit card deposits and withdrawals not available

at eToro, #1 Online Broker

 67% of retail investor accounts lose money when trading CFDs with this provider.

5. Zacks Trade – Top Broker for Advanced Traders

zacks trade review

Zacks Trade is another online broker that is particularly popular with experienced traders. Much like Interactive Brokers, Zacks Trade offers proprietary trading software that is packed with advanced technical indicators. You will also have access to research reports, market insights, and third-party financial news.

zacks trade review

When it comes to fees, this will depend on the type of stock that you are buying. For example, US-listed stocks worth $1 or more are charged at $0.01 for each share purchased. On the other hand, stocks priced at below $1 come with a variable rate of 1%. You can also invest in funds at Zacks Trade, and margin facilities are offered on account balances of $2,000 or more.

Pros

  • Advanced trading platform
  • Huge research and analysis department
  • Great for seasoned traders

Cons

  • Too complex for beginners
  • Cheaper trading fees available elsewhere
  • Minimum deposit required is $2,500

at eToro, #1 Online Broker

 67% of retail investor accounts lose money when trading CFDs with this provider.

6. Robinhood – Great US-Based Broker for Beginners

robinhood review

It goes without saying that Robinhood allows you to buy its shares directly from its brokerage platform. As Robinhood is US-listed, this means that you can invest without paying any commissions. You can also buy a small fraction of a share when choosing Robinhood and there is no minimum deposit to meet. Supported payment methods include bank wire and ACH.

robinhood review

At Robinhood, you can also trade cryptocurrencies, funds, and stock options at 0% commission. If you want to invest in stocks with leverage, you will need to open a gold account ($5 per month) and deposit at least $2,000. The gold account also offers additional research features and higher instant deposits. Finally, Robinhood also gives you access to IPOs.

Pros

  • No commissions charged
  • Offers US-based stocks, ETFs, and options
  • No minimum deposit
  • Very user-friendly

Cons

  • Spreads can be uncompetitive
  • No support for e-wallets or debit cards
  • No foreign stocks

at eToro, #1 Online Broker

 67% of retail investor accounts lose money when trading CFDs with this provider.

7. SoFi – Invest in Robinhood via Fractional Shares

SoFi invest review

If you’re looking to buy Robinhood stocks with a small amount of capital, SoFi requires a minimum investment of just $5. Best of all, you will not be charged any trading commissions at this brokerage. There is no minimum deposit to meet either when you open a self-directed account. Other options include retirement accounts and pre-managed automated portfolios.

SoFi invest review

In terms of supported markets, SoFi focuses on US-listed exchanges. This covers not only stocks but ETFs too. You can also invest in cryptocurrency at SoFi – which includes a first-time customer bonus of $10. Additionally, SoFi offers a range of alternative personal finance products on its platform. This covers credit cards, mortgages, and loans.

Pros

  • Supports fractional shares
  • Offers stocks, ETFs, and crypto
  • Access to IPOs

Cons

  • Trading platform comes with limited features
  • No copy trading tools
  • Number of supported assets is somewhat limited

at eToro, #1 Online Broker

 67% of retail investor accounts lose money when trading CFDs with this provider.

8. E*TRADE – Good Broker for Long-Term Investments

E*TRADE review

Launched in 1982 and backed by Morgan Stanley, E*TRADE is a popular online broker that offers low fees. In fact, when you invest in US-listed companies like Robinhood, you won’t be charged any commission when you buy and sell shares. You can also invest in US-listed ETFs and trade stock options at 0% commission.

E*TRADE review

E*TRADE offers plenty of account types to choose from – which is inclusive of retirement plans. You can also access managed portfolios – should you wish to invest passively. We found that E*TRADE does fall short when it comes to accessing international stocks, albeit, if you are focused solely on Robinhood, this shouldn’t be an issue.

Pros

  • Great for long-term investments
  • Supports a variety of retirement accounts
  • Low fees

Cons

  • Very limited number of non-US stocks
  • Won’t suit seasoned investors seeking high-level trading tools

at eToro, #1 Online Broker

 67% of retail investor accounts lose money when trading CFDs with this provider.

9. Merrill Edge – Online Brokerage With a Variety of Investment Accounts

Merrill Edge review

Merrill Edge is a popular brokerage that offers 0% commission stocks on US-listed companies. There is no minimum balance to meet and no annual fees to pay when opening a self-directed account. You will also have access to customer support on a 24/7 basis. When buying Robinhood stocks, you will need to purchase at least a full share.

Merrill Edge review

This is because unlike many of the other brokers discussed thus far, fractional shares are not supported. At Merrill Edge, you might also consider opening a guided account. This requires a minimum outlay of $1,000 but will allow you to invest passively. This is because the platform will build and rebalance a portfolio on your behalf based on your financial objectives.

Pros

  • Several account types to choose from
  • Self-directing accounts offer 0% commission stocks
  • ETFs, mutual funds, and bonds also supported

Cons

  • Financial advisory accounts require minimum investment of $20,000
  • No direct fractional share purchases

at eToro, #1 Online Broker

 67% of retail investor accounts lose money when trading CFDs with this provider.

10. Ally Invest – Challenger Bank Offering Low-Cost Stock Investments

Ally Invest review

Ally Invest is growing in popularity in the US, with the broker allowing you to invest in stocks at 0% commission. With that said, you won’t be able to purchase fractional stocks on this platform, so do bear this in mind. Nevertheless, Ally Invest allows you to open an account without requiring you to meet a minimum deposit amount. The platform is also great if you are planning to trade stocks on the move.

ally invest review

This is because Ally Invest offers a top-rated mobile app – which can be downloaded free of charge from Google Play or the App Store. Ally Invest is also popular in its support for robo portfolios. This will give you the opportunity to invest capital without needing to actively manage your portfolio. Instead, the underlying technology will both maintain and rebalance your investments on your behalf.

Pros

  • Access banking and investment services via a single platform
  • $0 commission stocks and ETFs
  • No minimum deposit

Cons

  • Does not offer international shares
  • Tools and research features very limited

at eToro, #1 Online Broker

 67% of retail investor accounts lose money when trading CFDs with this provider.

How to Buy Robinhood Stocks – Detailed & Explained in Full

So now that we have reviewed the best brokers to buy Robinhood stocks online, we can now go into a little bit more detail about the investment process itself.

For this walkthrough, we will show you how to open an account with eToro, make a deposit, and finally – buy Robinhood stocks from just $10 without paying any commission.

Step 1: Open a Stockbroker Account

Head over to the eToro homepage and look for the ‘Join Now’ button. You will see a registration box like in the image below – which will require you to choose a username and password, and enter your email address and cell phone number. You also need to enter your first and last name.

how to join etoro

As a regulated entity, eToro will need to collect additional personal information from you. This is inclusive of your social security number, residential address, and date of birth.

The final part of the eToro registration process is to upload some government-issued ID. This will allow eToro will instantly verify your identity so that you can proceed to buy Robinhood stocks unhindered.

67% of retail investor accounts lose money when trading CFDs with this provider.

Step 2: Deposit Investment Funds

Before you can buy Robinhood stocks, you will need to add some capital to your eToro account. The minimum first-time deposit here is just $50 and no fees apply for US clients.

Deposit Funds

There are plenty of payment types to choose from – many of which are processed instantly. This includes debit/credit cards and e-wallets like Neteller and Paypal. Other options include a bank wire, online banking, and ACH.

Step 3: Search for Robinhood Stocks

With a funded eToro account, you can now complete the process of buying Robinhood stocks. First, enter ‘Robinhood’ into the search box and wait for the correct stock to appear.

how to buy robinhood stock at eToro

When it does, click on the ‘Trade’ button.

Step 4: Buy Robinhood Stocks

You will now need to complete a buy order. This requires your total investment size to be entered into the ‘Amount’ box. The minimum amount you can invest in Robinhood stocks is a very affordable $10.

how to buy robinhood stock at eToro

In our example above, by meeting the minimum requirement, we are purchasing 0.51 of a single Robinhood stock. When you are happy with your chosen stake, click on the ‘Open Trade’ button to confirm your buy order.

Step 5: How to Sell Robinhood Stocks

Now that you have purchased Robinhood stocks via eToro, the shares will remain in your portfolio until you are ready to sell. You can do this at any point as long as the NASDAQ exchange is open.

When you decide to cash out your Robinhood stocks, simply head over to your eToro portfolio and place a sell order. eToro will then sell your shares and credit your cash balance with the appropriate amount.

Best Place to Buy Robinhood Stocks

Robinhood is listed on the NASDAQ exchange, so there are plenty of online stock brokers that give you access to the company.

When attempting to find the best place to buy Robinhood stocks, consider the metrics outlined below:

  • Minimum deposit amount
  • Whether or not the broker supports fractional shares
  • The commission charged when you buy/sell Robinhood stocks
  • Supported deposit and withdrawal methods
  • The regulatory status of the broker

As per the above criteria, this is why we think that eToro is the best place to buy Robinhood stocks. After all, the platform requires a minimum investment of just $10 per trade, and all stocks and ETFs can be purchased at 0% commission.

Is Robinhood a Good Stock to Buy?

Before you proceed to buy Robinhood stocks online, make sure you have considered whether or not the company represents a viable investment. Some of the most important considerations to make before you invest are discussed in more detail below.

Robinhood Stock Price History

Robinhood became a public company in late July 2021 – opting for the NASDAQ exchange for its IPO. The firm listed its shares at an IPO price of $38 per stock. Since its IPO listing, the price of Robinhood stocks has been somewhat volatile. For instance, since the listing, the shares have hit highs of $85 each.

Robinhood stock price

This represents an increase of 123% since its IPO campaign. However, the stocks have since hit lows of sub-$20 per share. As of writing, this translates into a modest market capitalization of just under $17 billion. This represents that the upside potential with Robinhood over the long run could be high.

Does Robinhood Pay Dividends?

Robinhood only went public in July 2021 and as such – it is still a growth stock. Therefore, when you buy Robinhood stocks, you won’t be entitled to any dividend payments.

This is likely to be the case for many years, so, in the short-to-medium term, your main objective will be to see the stock price of Robinhood rise.

Should I Buy Robinhood Stocks?

When considering whether or not Robinhood is a buy, we would suggest reading through the following sections. In doing so, you will have a broader understanding of what the future potentially holds for the popular online brokerage.

Great Entry Point at Sub-$20 Per Share

First and foremost, as of writing, it is still possible to buy Robinhood stocks at below $20 per share. This is, of course, a huge reduction from its IPO price of $38. In fact, by investing at $20 per share, you are essentially getting yourself a discount of at least 47%.

are robinhood stocks a buy

Now, as a short-term target, if Robinhood stocks recover to their IPO price of $38, this would require an upside of over 90%. And, with a market capitalization of just under $17 billion, it wouldn’t take much for this to be achieved.

Huge Customer Base

Recent figures from Q3 2021 note that Robinhood is now home to just under 19 million customer accounts – which makes it one of the biggest investment platforms in this space. This is a huge increase from the 10.7 million users that were reported in the same quarter of 2020.

Small Market Capitalization

As noted above, Robinhood has a small market capitalization of just under $17 billion as of writing. In comparison, this is just a small fraction of fellow US broker Charles Schwab, which, as of writing, carries a market capitalization of over $150 billion.

This means that by purchasing shares in Robinhood at current pricing levels, you have the opportunity to target an above-average upside potential.

Risks of Investing in Robinhood Stocks?

When analyzing whether or not Robinhood stocks represent a solid investment prospect, we found that the company also presents a number of risks.

Payment for Order Flow Model

The overwhelming majority of Robinhood’s business model is focused on payment for order flow services. For those unaware, this means that Robinhood will sell its market orders to third parties, who, in turn, will make a commission. In other words, when customers of Robinhood buy stocks, they are not trading directly with other market participants.

should i buy robinhood stock?

From an investment cost perspective, this means that Robinhood traders are often getting an unfavorable deal – especially when it comes to market spread. Although to date, the firm’s payment for order flow model has worked well for Robinhood, there are concerns that the SEC is considering banning the practice in the very near future. This will invariably be a major blow for Robinhood.

GameStop Saga

Earlier in 2021, Robinhood was at the forefront of the GameStop saga. Put simply, a Reddit forum called WallStreetBets was allegedly behind a pump on GameStop stocks, which saw the struggling gaming chain increase its share price by over 3,000% in a matter of weeks.

In light of this, Robinhood decided to restrict new buy orders on GameStop stocks to its customers. This resulted in a major backlash for the brokerage firm that claims to ‘democratize finance’ for all.

Oversaturated Markets

Another risk to consider before you buy Robinhood stocks is that the brokerage now operates in a highly oversaturated market. After all, Robinhood isn’t the only online broker that allows you to buy US-listed stocks at 0% commission.

In fact, other than Zacks Trades, all other brokers that we have discussed on this page offer a commission-free service on stocks listed on the NYSE and NASDAQ. Most brokers discussed today also offer fractional shares and no minimum deposit requirements – so Robinhood no longer stands out like it once did.

The Cost of Buying Robinhood Stocks

You also need to consider the costs of buying Robinhood stocks – which will invariably be determined by your chosen brokerage.

Brokerage Deposit Fees

Many online brokers will charge you a fee when you add capital to your account. This is usually the case when you elect to use a debit/credit card as your chosen payment method. However, you then have brokers like eToro, which offer fee-free deposits to US clients.

Commissions

As noted above, most of the brokers discussed on this page allow you to buy Robinhood stocks at 0% commission. This isn’t always the case though, so be sure to check this before proceeding.

Spreads

One of the main fees that newbies forget to take into account is the spread. In simple terms, this is the gap between the bid and ask price of Robinhood stocks – as per the trading platform you are using. This means that although your chosen broker might not charge commissions, you will indirectly pay a fee via the spread.

For example, if the gap between the bid and ask price amounts to 1.5%, you need to see your Robinhood stocks increase by at least this amount to break even.

How to Buy Robinhood Stocks – Conclusion

This guide has explained everything you need to know before you before Robinhood stocks online. Not only have we discussed the investment process itself, but which brokers to consider. We have also discussed the benefits and risks of adding Robinhood stocks to your portfolio.

To complete your purchase now at 0% commission, you might want to consider eToro. From start to finish it should take you no more than five minutes to open an account with this brokerage – and the minimum Robinhood stock purchase stands at just $10.

eToro – Best Broker to Buy Robinhood Stocks

1
$50Exclusive promotion
Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

FAQ

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About Alejandro Arrieche PRO INVESTOR

Alejandro is a freelance financial analyst with 7 years of experience in the industry. He writes technical content about economics, finance, investments, and real estate and have also assisted financial businesses in building their digital marketing strategy. His favorite topics are value investing, macro analysis, and technical analysis. Other publications Alejandro has written for include The Modest Wallet, and Capital.com.