There is no commissions for listed stocks and ETFs.
Robinhood is a stock brokerage, an Phone-based trading app, that allows customers to buy and sell U.S. listed stocks and ETFs with zero commission.
Robinhood is a registered broker-dealer, member FINRA & SIPC.
I use it. I really like it actually. I think the trade interface is really good- visually appealing, easy to use, and they're always adding new features (recently added stop loss/stop limit orders as an option). You can also trade virtually any stock; only found one so far I couldn't buy but it had a pretty low market cap so I wasn't surprised. It does take like three days for funds to clear if you trade a stock but if that's the trade-off for it being commission free then so be it.
I originally downloaded it in December and began using it in January I believe.
I use Robinhood and it's great for its purpose ($0 commissions). There's no way anyone could use something like Loyal 3 and think that's superior to Robinhood. Instead of a tiny list of companies, you can trade pretty much any stock or ETF, and the execution is immediate instead of waiting for a day or so. I'm surprised people aren't ecstatic about it. My only disappointment is that they don't offer IRA account support.
"SO HOW WILL ROBINHOOD make money? It will charge 3.5% for margin interest, once that feature is available, in 2015.
The firm will also collect interest on customers’ cash balances, and will charge for paper statements and confirmations.
Broker-assisted phone orders will cost $10. You can only buy stocks at present but can’t sell them short; when other asset classes (such as options) are
introduced, it is likely that Robinhood will charge commissions. We’ve also seen numerous brokers start out with zero commissions, then change their business
plans after it becomes obvious how nice it is to generate income."
"On the positive we think the service is easy to use, and is a cheap (FREE) way to invest in individual stocks or ETFs. For traders wanting
more advanced trading options and features, you’ll have to look elsewhere. No formal testing was done, but suspect Robinhood has to
sacrifice trade execution speeds, which affects price spreads in order to work with their free trade parameter."
"Robinhood delivers on their free stock trades with no minimum balance promise. The app-only user interface is clean and intuitive,
if a bit minimalist on features like order types. You do give up some traditional brokerage features like phone customer service and paper
statements. I’m still skeptical about whether they can make the economics work over the long run, but they do appear to be streamlining
wherever they can."