Getting Started With the Robinhood App: A Step-by-Step Guide
How to download and set up your Robinhood account
Download the Robinhood app from the Apple App Store or Google Play Store, then open it and tap "Sign Up." You will need to provide your email address, create a password, and enter your full legal name, date of birth, and Social Security number. Robinhood uses this information to verify your identity and comply with federal financial regulations.
After you submit your personal details, Robinhood will ask for your address and phone number. The app will then send a verification code to your email or phone — enter it to confirm you control that account. This step typically takes a few minutes.
Next, you will link a bank account. Tap the account icon, select "Linked Accounts," and choose your bank from the list or enter your banking details manually. Robinhood will make two small deposits to that account (usually under $1 each) within one to two business days. Log into your bank account online, find those deposits, and enter their amounts into the Robinhood app to confirm the link. Once verified, you can transfer money from your bank to Robinhood.
Key Takeaways
- You will need your Social Security number, a valid ID, and a linked bank account before you can start trading on Robinhood.
- The app lets you buy and sell stocks, exchange-traded funds (ETFs), options, and cryptocurrencies without paying per-trade commissions.
- Fractional shares let you buy a portion of a stock if you do not have enough money for a full share, starting with as little as $1.
- Robinhood Gold is a paid subscription that offers margin trading and other features, but you do not need it to start investing.
- Your cash balance and holdings appear on the home screen, and you can place an order by searching for a stock ticker or company name.
Transferring money into your Robinhood account
Once your bank account is linked, tap the account icon and select "Transfer." Choose "Add Funds" to move money from your bank into Robinhood. Enter the amount you want to transfer and confirm. Most transfers take one to three business days, though some banks process them faster.
You can also transfer money out of Robinhood back to your bank account using the same menu — select "Withdraw" instead of "Add Funds." Withdrawals typically take three to five business days. Robinhood does not charge fees for transfers in either direction.
Your cash balance appears on the home screen once the transfer completes. This is the money available to buy stocks, ETFs, options, or cryptocurrency. If you sell a position, the proceeds go into your cash balance and are available to spend or reinvest immediately.
Placing your first stock or ETF order
On the home screen, tap the search icon (magnifying glass) and type a company name or stock ticker symbol — for example, "Apple" or "AAPL." Tap the result to open the stock's detail page. You will see the current price, a price chart, and a green "Buy" button at the bottom.
Tap "Buy," then enter the number of shares you want to purchase or the dollar amount you want to spend. If you enter a dollar amount, Robinhood will calculate how many fractional shares you can buy. For example, if Apple is trading at $150 per share and you have $100, Robinhood will buy you 0.67 shares. Tap "Review Order" to see the total cost, then tap "Submit Order" to complete the purchase.
Your order executes during market hours (9:30 a.m. to 4 p.m. Eastern time on weekdays). If you place an order after hours or on a weekend, it will execute when the market opens the next trading day. Once filled, the shares appear in your holdings, and your cash balance decreases by the purchase amount.
To sell shares, tap the stock in your holdings, then tap the red "Sell" button. Enter how many shares you want to sell, review the order, and submit. The sale price depends on when the order executes — if you sell during market hours, you get the current market price; if you sell after hours, the price may be different when the order fills the next morning.
Understanding order types and timing
Robinhood offers two main order types: market orders and limit orders. A market order buys or sells immediately at the current market price. This is the default and executes fastest, but the exact price you pay may be slightly different from what you saw on screen if the price moves between when you tap submit and when the order fills.
A limit order lets you set a maximum price you are willing to pay (for a buy) or a minimum price you are willing to accept (for a sell). If the stock never reaches your limit price, the order never executes. Limit orders are useful if you want to buy at a specific price or avoid selling below a certain level, but they carry the risk that you miss the trade entirely.
To place a limit order, tap "Buy" or "Sell," then tap "Order Type" and select "Limit." Enter your limit price, review the order, and submit. The order stays active until the market closes that day (for day orders) or until you cancel it. Robinhood's default is a day order, which expires at the end of the trading day if it has not filled.
Viewing your portfolio and tracking performance
Your holdings appear on the home screen under "Stocks" and "Crypto" (if you own cryptocurrency). Each holding shows the company name or ticker, the number of shares you own, the current value, and your gain or loss in dollars and percentage. A green number means you are up; a red number means you are down.
Tap any holding to see more detail: a price chart over different time periods (1 day, 1 week, 1 month, 3 months, 1 year, or all-time), news articles about the company, and a list of your transactions in that stock. This view also shows your average cost per share — the total amount you paid divided by the number of shares you own.
At the top of the home screen, you will see your total account value and your total gain or loss since you started. This includes all stocks, ETFs, cryptocurrency, and cash. Swipe left and right to see different views: your buying power (cash available to invest), your portfolio breakdown by asset type, and your performance over time.
Using watchlists and alerts
A watchlist is a personal collection of stocks you want to track without owning them. Tap the search icon, find a stock, and tap the star icon to add it to your watchlist. The stock now appears under the "Lists" tab on the home screen, where you can see its current price and daily change without having to search for it each time.
You can create multiple watchlists by tapping "Lists," then the plus icon, and naming your list — for example, "Tech Stocks" or "Dividend Payers." Add stocks to each list by tapping the star icon on the stock's detail page and selecting which list to add it to.
To set a price alert, open a stock's detail page, tap the bell icon, and choose whether you want an alert when the price goes above or below a certain level. Enter your target price and tap "Set Alert." Robinhood will send you a notification when the stock reaches that price. You can set multiple alerts on the same stock and manage all your alerts from the account menu.
Robinhood Gold and advanced features
Robinhood Gold is an optional paid subscription ($5 per month or $55 per year) that unlocks additional features. The main benefit is margin trading, which lets you borrow money from Robinhood to buy more stocks than your cash balance allows. For example, with $1,000 in your account, margin lets you buy up to $2,000 in stocks (a 2-to-1 ratio). You pay interest on the borrowed amount, and if your account value drops too far, Robinhood will force you to sell positions to cover the loan.
Gold also includes extended-hours trading, which lets you place orders before the market opens (4 a.m. to 9:30 a.m.) and after it closes (4 p.m. to 8 p.m.). Prices during these times are often less stable and spreads (the difference between buy and sell prices) are wider, so extended-hours trading carries extra risk.
You do not need Gold to start investing. Most beginners should stick with standard Robinhood, which includes commission-free trading, fractional shares, and all the tools described above. Only consider Gold if you understand margin and extended-hours trading and have a specific reason to use them.
Frequently Asked Questions
What is a fractional share and why would I buy one?
A fractional share is a portion of a single stock. If a stock costs $500 per share and you have $100, Robinhood lets you buy 0.2 shares instead of forcing you to wait until you have $500. Fractional shares let you invest any amount of money and own a piece of expensive stocks without saving up for a full share first.
How long does it take to withdraw money from Robinhood?
Withdrawals to your linked bank account typically take three to five business days. The exact timing depends on your bank. Weekends and holidays do not count as business days, so a withdrawal requested on Friday may not arrive until the following Wednesday or Thursday.
Can I trade stocks before the market opens or after it closes?
Standard Robinhood accounts can only trade during regular market hours (9:30 a.m. to 4 p.m. Eastern time on weekdays). Robinhood Gold subscribers can place orders during extended hours (4 a.m. to 8 p.m.), but prices are less stable and spreads are wider during these times.
What happens if I place an order after the market closes?
Your order will sit in a queue and execute when the market opens the next trading day at 9:30 a.m. Eastern time. The price you pay or receive depends on the opening price and market activity at that moment — it may be higher or lower than the price you saw when you placed the order.
Do I pay any fees to buy or sell stocks on Robinhood?
Robinhood does not charge per-trade commissions on stocks, ETFs, or options. You do not pay fees to transfer money in or out of your account. The only fees are interest on margin (if you use Gold and borrow money) and subscription cost for Gold itself ($5 per month or $55 per year).