Robinhood offers a free stock promotion to new users who sign up and link their bank account or debit card. This incentive allows users to receive a specified dollar amount between $5 and $200, which can be used to claim a fractional share of a stock from a list of leading companies.
How to Get Free Stock on Robinhood
- Sign Up – Create a Robinhood account and get approved.
- Link Your Bank Account or Debit Card – This step is required to claim your free stock.
- Claim Your Stock – Choose from a selection of stocks based on market capitalization.
Referral Bonuses
Robinhood also rewards users for referring friends. Existing users can share their referral code, and when a new user signs up using that code, both parties receive additional free stock. This referral system allows users to earn up to $1,500 annually in free stock.
Selling and Withdrawing Free Stock
Once you receive your free stock, you can sell it after three trading days. However, if you want to withdraw the proceeds, you must keep the cash value in your account for at least 30 days before withdrawing.
Additional Benefits
Robinhood provides commission-free trading for stocks, ETFs, options, and cryptocurrencies. Users can also open retirement accounts and receive a 1% match on contributions, or 3% match when transferring an IRA to Robinhood.
Is It Really Free?
Yes! Robinhood’s free stock promotion is a marketing strategy to attract new users. Instead of spending money on advertisements, they invest in giving away free stocks to encourage sign-ups and referrals.
