Even then, Robinhood lacks resources when compared to its competitors’ offerings . Robinhood doesn’t offer any mutual funds or fixed income investment products and you will not be able to trade any commodities, forex, or futures. Moreover, Robinhood only supports taxable brokerage accounts.
Read moreCan Robinhood be trusted?
YES–Robinhood is absolutely safe . Your funds on Robinhood are protected up to $500,000 for securities and $250,000 for cash claims because they are a member of the SIPC. Furthermore, Robinhood is a securities brokerage and as such, securities brokerages are regulated by the Securities and Exchange Commission (SEC).
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