Sell stock on robinhood app
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I had previously made a few profitable bets on China, which I was ready to sell. I received one share each of SPLS (Staples) and VER, a real estate investment trust. I’ve referred a couple of people to Robinhood, and just ran into this exact situation.
#Sell stock on robinhood app free#
Read that second bullet carefully: it says that as long as you hold your free stock, up to 30 days, you can’t withdraw money added to the platform from your own bank account. After you sell the share, you will be able to withdraw an additional $10″. “If we add 1 share worth $10 to your account and you deposit $100 dollars into your account, you can only withdraw $90 until you sell the stock bonus.“If we add 1 share worth $10 to your account, you cannot withdraw the $10 you receive by selling the stock for 30 days.After the 30-day window, there are no restrictions on the money. “You have to keep the cash value of the stock in your account for at least 30 days before withdrawing it. As the terms and conditions go on to say: However, they’ve implemented this restriction in a particularly sneaky way. They want you to leave the value of your free stock on the platform for 30 days, whether you hold onto the stock or sell it and buy something else. That seems reasonable enough, since the point of the referral bonus is to get you onto the platform and trading. Free stocks “lock up” your account’s withdrawable cashĪccording to the terms and conditions of the free stock referral offer, “he cash value of the stock bonus may not be withdrawn for 30 days after the bonus is claimed.” If you aren’t a user, feel free to use my referral link. Apparently the stocks available change periodically based on share price and market capitalization. The exact stock you receive is determined randomly among the stocks they offer, which seem to currently include Facebook, Apple, or Microsoft (expensive) and Ford, Sprint, or Freeport-McMoRan (cheap). If you were so inclined, you could even use it as your primary taxable brokerage account, although I don’t believe you can link it to services like Mint or to roboadvisors that would help you periodically rebalance your portfolio.Ī little while ago they launched a referral program which gives new users and the existing user who referred them a free share of one of a few stocks.
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I don’t think you should invest in individual stocks, but gambling is, famously, fun, and when I want to gamble on individual stocks I use the Robinhood iPhone app, which offers commission-free trades for stocks and ETF’s listed on US exchanges.