How to get free stock from Robinhood?

June 2024 · 5 minute read

How to Get Free Stock from Robinhood

Robinhood is a popular online brokerage platform that allows investors to trade stocks, ETFs, options, and cryptocurrencies without paying any commission fees. Although investing in the stock market typically requires capital, Robinhood offers an excellent opportunity for users to earn free stocks. In this article, we will explore how you can take advantage of Robinhood’s free stock program and start building your investment portfolio without spending a dime.

Getting free stock from Robinhood is relatively simple and involves signing up, meeting specific criteria, and referring new users to the platform. Here’s a step-by-step guide on how to get started:

1.

Table of Contents

Create an Account

To begin, visit the Robinhood website or download the Robinhood app on your mobile device. After installation, sign up for an account by providing the necessary personal information.

2.

Complete the Application Process

After signing up, you will need to complete the application process, which includes providing your Social Security number and answering some financial questions to ensure compliance with regulatory requirements.

3.

Link Your Bank Account

Once your account is approved, link your bank account to facilitate seamless fund transfers and future investments.

4.

Refer Friends to Robinhood

One of the main ways to earn free stocks on Robinhood is through their referral program. After signing up, you will receive a unique referral link, which you can share with friends, family, or anyone interested in investing.

5.

Help Friends Sign Up

Encourage your friends to use your referral link to sign up for their own Robinhood account. Once they complete the application process and their account is approved, both you and your referral will be eligible to receive free stocks.

6.

Claim and Track Your Free Stocks

When your referral signs up and gets approved, you will receive a notification from Robinhood. You can claim your free stock by accessing your account and navigating to the “Free Stocks” section. Robinhood will also allow you to track the status of your referrals and the free stocks you have earned.

Now that we have covered the process of acquiring free stocks from Robinhood, let’s address some frequently asked questions about the platform:

1.

Do I need money to get free stocks on Robinhood?

No, you do not need to spend any money to get free stocks from Robinhood. Simply signing up and referring others to the platform can earn you free stocks.

2.

Do I need a referral code to participate?

No, you do not need a referral code to participate. Robinhood provides you with a unique referral link that automatically tracks your referrals.

3.

Can I refer someone who already has a Robinhood account?

No, the referral program is designed for new users who sign up using your referral link. Existing Robinhood users are not eligible for the program.

4.

Can I sell the free stocks immediately?

Yes, you can sell the free stocks received through Robinhood’s referral program immediately. However, do note that you may be subject to short-term capital gains taxes if you sell the stocks within a year.

5.

Can I choose which stocks I receive for free?

No, Robinhood chooses your free stock randomly from a pre-selected pool. This adds an element of surprise to the process.

6.

What stocks can I get for free?

Robinhood offers a wide range of stocks for free, including popular companies like Apple, Facebook, and Visa, among others.

7.

How many free stocks can I earn?

There is no limit to the number of free stocks you can earn through referrals. The more people you refer, the more opportunities you have to earn free stocks.

8.

Can I withdraw the value of the free stocks?

Yes, the value of the free stocks you receive can be withdrawn after a 30-day holding period.

9.

Is Robinhood available internationally?

Currently, Robinhood is only available to residents of the United States, including citizens, green card holders, and individuals with a valid U.S. visa.

10.

Can I refer myself or create multiple accounts?

No, self-referrals and creating multiple accounts to earn free stocks are strictly against Robinhood’s terms of service.

11.

Can I refer someone who already has a brokerage account?

Yes, you can refer someone who already has a brokerage account, as long as they are new to Robinhood.

12.

Is Robinhood a reliable platform?

Yes, Robinhood is considered a trusted and reliable platform in the industry. It is regulated by the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

By following these simple steps and taking advantage of Robinhood’s referral program, you can accumulate free stocks and start your investment journey without spending your own money. It’s an excellent opportunity for both new and experienced investors to discover the stock market’s potential and potentially grow their portfolios.

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