There is nothing more exciting than hearing the word FREE – whether it’s getting a t-shirt at a concert, a mug at the career fair, or even a free burrito. But, as a wealth coach, the most exciting free thing I always search for is how to get FREE STOCKS!
With the coronavirus pandemic causing massive unemployment around the country, we witnessed tons of non-investors sign up on various online trading platforms, especially on Robinhood, where the number of new users surged to claim their free stock and begin trading.
How Can You Get Free Stocks?
If you are completely new to investing in the stock market, there’s nothing better than starting your investing journey with a free stock. It will certainly provide a psychological boost and act as the first step to your investing journey.
There are multiple platforms where you can get free stocks. Below are a couple of trading platforms I’ve used that offer free stocks. Simply click on the link and get your FREE STOCK today!
While Robinhood has gained massive popularity over the past year, I have decided to switch to Fidelity.
No, I did not simply sign up for a free stock on Robinhood and have several reasons to back up my decision.
If you would like to learn how to transfer your portfolio from Robinhood to Fidelity, here’s a YouTube video where I explain how you do that easily without losing any of your free stocks.
Why Did I Switch from Robinhood to Fidelity?
Here are my 4 biggest reasons why I switched from Robinhood to Fidelity.
Robinhood is Unreliable
With circle breakers causing Robinhood to crash on multiple occasions, I was weary of using it as my primary broker as I can’t be relying on a system that has bugs or technical failures that prevent me from trading stocks.
How Robinhood Makes Money
As a commission-free brokerage and trading platform, Robinhood makes money by not giving your first priority on your buy and sell orders. Therefore, as an investor, you will not be getting the most optimal price when buying or selling stocks on Robinhood.
Slow Deposit and Withdrawal Process
It typically takes 5-7 business days to simply deposit money into Robinhood and withdraw your cash from it, making it extremely inefficient and time-consuming.
Lack of Support
With Robinhood’s multiple technical failures, there were a lot of angry customers. Much to their disappointment, Robinhood does not have a hotline number to resolve these issues and they take extremely long to respond to emails, forcing me to bid goodbye to Robinhood.
Now that I’ve listed my top 4 reasons for switching to Fidelity, you’re probably wondering – what if Fidelity has the same problems like Robinhood.
To learn a comprehensive analysis and comparison between Fidelity and Robinhood, watch my YouTube video here where I dive into the pros and cons of Fidelity and why I decided to switch from Robinhood to Fidelity.
If all of this is overwhelming and you’d rather let an expert assist you, I’d love to be a part of your journey to wealth building.
I will work with you and set up a SMART (Smart, Measurable, Attainable, Result Oriented, Timely) plan to develop an investing strategy that is aligned with your goals.