Have you heard about Robinhood’s free stock program and wondered how it works?
It’s a great way for new investors to get a head start, but the process can seem a little confusing at first.
Don’t worry, we’re here to break it down for you, step by step.
What is the Robinhood Free Stock Program?
Robinhood, the popular commission-free trading app, offers a promotion where new users can receive a free share of stock just for signing up.
This is a common practice among brokerages to attract new customers. The value of the free stock can range from a few dollars to a more significant amount, but most users receive a stock valued on the lower end of the spectrum.
Each time a friend signs up and links a bank account you both get a free stock!
Step 1: Find a Referral Link
The key to getting your free stock is to sign up using a referral link. This is how the program works—an existing user refers a new user, and both parties get a free stock. You can get a referral link from a friend who already uses Robinhood, or you can find one online.
Step 2: Open and Fund Your Account
After clicking the referral link, you’ll be directed to Robinhood’s website or app to open your account. The process is pretty straightforward:
a. Provide your personal information: This includes your name, address, Social Security number, and other details required to verify your identity and open a brokerage account.
b. Link your bank account: To be eligible for the free stock, you’ll need to link your bank account or debit card. This is so you can fund your new investing account. You aren’t required to deposit any money to receive the free stock, but linking a bank account is a necessary step.
Step 3: Claim Your Free Stock
Once your account is approved and you’ve linked your bank account, you’ll receive a notification that you have a free stock to claim. You’ll typically be able to pick from a list of companies to receive your fractional share.
The value of the stock will be between $5 and $200, with the vast majority of users receiving a reward on the lower end of that range.
The current Robinhood referral program has 26 stocks that are available to choose from. Depending on the amount, you can either choose whole or fractional shares of these stocks.
The stocks are selected by looking at the 2 largest companies within the top 13 sectors of the S&P 500. But there are times that Robinhood may offer stocks that are not in this group.
Note: The reward expires within 60 days from when your Robinhood brokerage account is approved. Be sure to claim your reward before this time.
Step 4: What You Can Do With Your Free Stock
Now that you have your free stock, what’s next? You have a couple of options:
a. Hold it: You can simply keep the stock and see how it performs over time. This is a great way to start your investing journey and learn about the market.
b. Sell it: Robinhood requires you to wait at least three days before you can sell your free stock. After selling, you must wait at least 30 days before you can withdraw the cash proceeds.
How To Get More Free Stocks?
Once you have a Robinhood account, you can invite friends to sign up using your unique referral link and earn free stocks.
There is a limit of $1,500 worth of stocks that you can get each year.
Why This is a Great Deal for Beginners?
Getting a free stock from Robinhood is a fantastic opportunity for new investors for a few reasons:
1. It’s a low-risk entry point: You get to experience owning a piece of a company without having to put any of your own money on the line.
2. You can learn the platform: It gives you a chance to navigate the Robinhood app, place an order, and see your portfolio grow (or shrink!) with a small, free investment.
3. It demystifies investing: The process makes investing feel more accessible and less intimidating.
Support this blog and kindly sign up through this referral link>> Click here!
Remember, while a free stock is a great start, it’s important to do your own research and understand the risks before making any major investment decisions. Happy investing!
Disclaimer: This blog post is for informational purposes only and does not constitute financial advice. Always consult with a qualified professional before making any investment decisions.
Disclosure: Some links may contain referral links and I may be compensated for this at no additional cost to you.
App Site Make Money 