Why Robinhood Is Still One of the Best Brokers for Beginners

You don't need to be an expert to start investing.

In fact, one of the most powerful investing moves is the simplest: Buy great companies and hold them for the long haul.

That's where Robinhood shines. Despite its controversy over the years -- like pausing trades during the 2021 GameStop frenzy or catching flak for not warning users against risky bets -- the platform is still one of the best brokers for long-term, beginner investors.

Here's why.

It's easy to open an account and buy your first stock

Robinhood was one of the first brokers to strip away all the friction from investing. No overwhelming paperwork, no minimum deposit, no trading fees. You just sign up and get started.

The app walks you through every step in plain language. And if you only want to invest $5 or $10, that's no problem. Robinhood lets you buy fractional shares, so you don't need to fork over hundreds just to own a piece of Apple or Amazon.

It's built for long-term, hands-off investing

Despite its reputation for options trading and meme stocks, Robinhood is actually great for folks who want to "set it and forget it."

Here's what Robinhood offers that makes long-term investing easier:

• Commission-free trades on stocks and ETFs
• No account maintenance fees or account minimums
• Fractional shares for as little as $1
• Retirement accounts, including Roth and traditional IRAs (with a 1% match!)

You can also schedule recurring investments to build your portfolio over time, which is ideal if you're using dollar-cost averaging (aka investing on a set schedule).

Personally, I invest almost exclusively in ETF index funds. It's a great passive option for beginners that want a broad, low-cost portfolio.

Sign up for a Robinhood account today and start taking advantage of all the beginner-friendly features.

It removes the "Wall Street" feeling

Probably the coolest thing about Robinhood is its app and user interface.

It's clean, simple, and designed for mobile -- perfect for checking your balance, making a transfer, or knocking out quick tasks on the go. Honestly, I do most of my banking in under 30 seconds these days with just a couple taps.

Robinhood also sends helpful educational content in-app and through a cool newsletter called Snacks. Topics range from stuff like "How to build a diversified portfolio" to "What is a Roth IRA?", and it covers a bunch of news headlines too.

Yes, more advanced investors may want deeper research tools or better spreads on options. But for beginners, it's refreshing to have less clutter and more basic information.

Get a 1% IRA match

Robinhood offers a rare perk for IRA accounts… A 1% match on your IRA contributions.

So if you put in $5,000 to your IRA, it'll add $50. Contribute the annual max of $7,000, and you'll get $70.

I realize this isn't lifechanging money. But it's cool to see a broker incentivizing and encouraging people to save more for retirement.

Robinhood also commonly offers other promotions for new members. It's a good idea to take a look and see which offers you might be able to cash in on. Check out all Robinhood's current promotions here.

So, should you start with Robinhood?

There's certainly no harm in opening up a Robinhood account and testing the platform. That's what I did a few years ago to try it out.

It's free to join, and with no commissions there's not much downside.

For beginner's, no matter which broker you use, the first step is just getting started.

You don't need to get everything perfect on day one. Just open an account, buy a few stocks or ETFs you believe in, and let compound growth do its thing.

Open a Robinhood account today and start your investing journey.