Difference between revisions of "Does the Robinhood Referral Program Really Work"
(Created page with "If you are a member of the Robinhood Stock Company, there is no doubt that you have heard of the recently released "Robinhood Referral Program". The basic idea behin...")
Latest revision as of 02:15, 24 May 2020
If you are a member of the Robinhood Stock Company, there is no doubt that you have heard of the recently released "Robinhood Referral Program". The basic idea behind this offer is to give a free Robinhood stock to all of those who refer a friend to the service. Of course, the scheme is not entirely free, but it is well worth the price of admission.
When you become a member of the Robinhood Referral Program, your initial deposit will be directly deposited into your account, regardless of whether or not you order stock. You are free to order as many stocks as you want from the company. In addition, you do not need to make a purchase when you refer a friend, because the company will simply send your friend the stock free of charge. You only pay for the stock that you buy and sell.
There are, however, some limitations on how much of a free stock you can purchase with the referral program. For example, you can only purchase stock if your friend has placed an order for the same type of stock at the company. And, if your friend buys shares in another company, you can only acquire shares that the first friend purchased. If you trade in different stock types, your friend will only be able to purchase stocks that are within the same industry.
However, the limits are not strict, and anyone who believes that they can get away with buying more than their allotted share of Robinhood stock with the referral program is mistaken. These limits have been put in place to protect the public from the selling pressures that may arise in case of a stock's fluctuation. These constraints are present to keep the system fair. These constraints are also a strategy to ensure that the good of the network's clients are not compromised by any illicit activity.
At this time, the Robinhood ReferralProgram is still in its pilot phase. It is too early to tell whether or not this is a viable option for other stock brokers, but the system itself is extremely impressive and could easily be expanded.
To add insult to injury, the Robinhood Referral Program is only available in the US. How to Make Money With Robinhood means that it does not make any sense for you to refer a friend who lives in another country, because that person will be forced to pay their own brokerage fees.
Robinshood Free Stock Trading - Is It For You? may have some limitations, but it certainly is a very attractive proposition. The cost of the service makes it well worth the minimal cost, and it certainly beats making use of a personal advisor.
Another thing that stands out about the Robinhood Referral Program is the prospect of creating a wealth of new friends. Once you know how to get started, you are left with the option of sending those same friends links on how to earn free stock. That is some serious branding for your friend!