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Home » Investing

2023 Robinhood Free Stock Promo: Is It Worth The Hype?

Kelan Kline | Updated December 27, 2022 Investing

You may be intrigued by the stock market, but worried about investing because you don't want to lose money. Many people avoid investing since they don't know where to start. But Robinhood is geared for beginners looking to invest wisely- and you could start with a free Robinhood stock to start!
robinhood free stock Montreal, Canada - March 08, 2020: Robinhood app and logo on screen. Robinhood financial services company. The company offers mobile app and website that offers people the ability to invest in stocks
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So does Robinhood free stock live up to expectations? Free is great, but is it enough to make you invest in Robinhood?

One of the best things in life is getting free stuff. Whether it’s a free meal at a restaurant, a free sample from the grocery store, or free money, we love free stuff.

So when we heard you could get FREE stock, we had to check it out! 

Robinhood is an app that lets you buy and sell stocks commission-free and has helped newbies and experienced traders make the best investments.

You can also track your favorite stocks, get alerts when they hit specific prices, and even set up custom watchlists, so you never miss out on what’s going on with them.

Let’s give you the skinny on Robinhood and how you can snag their free stocks!

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Robinhood

Your FREE Stock is waiting for you! Click the button below to grab it now.

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Table of Contents

  • Robinhood Summary
    • Features
    • Fees
  • Robinhood Free Stock
    • Taxes On Free Stocks
    • Can I Open a Second Robinhood Account?
    • Can I Sell My Free Stock?
  • Is The Free Stock Worth It?
  • Make Money On Robinhood
    • Dividends
    • Stock Appreciation
  • Other Free Stock Offers
    • Webull
    • Firstrade
    • Public
  • Other Investment Platforms
    • Betterment
    • M1 Finance
    • Coinbase
  • Final Thoughts

Robinhood Summary

Robinhood Review sign up

Robinhood is a commission-free stock trading app that has been around since 2013. It’s one of the most popular stock trading apps and was one of the first brokerages to offer commission-free trading.

With Robinhood, you can buy and sell stocks, ETFs, options, and cryptocurrencies commission-free. You’ll also have access to real-time market data and insights so you can make informed investment decisions.

Our Robinhood Review is packed full of information! Be sure to check it out.

Features

Robinhood offers a variety of investment opportunities: stocks, ETFs (Exchange Traded Funds), options, and cryptocurrencies like Bitcoin and Ethereum, to name a few. Robinhood’s free stock trading app for iOS & Android lets you buy and sell U.S.-listed stocks, ETFs (and soon options) without paying any commissions or fees.

Robinhood also allows you to start investing with as little as $5 without completing any lengthy application process. This makes this investment app an accessible option for investors of all levels.

Fees

cash in wallet

According to Robinhood, “Investing with Robinhood is commission-free, now and forever. We don’t charge you fees to open your account, to maintain your account, or to transfer funds to your account.”

There are some fees that Robinhood can’t avoid. These fees include the Regulatory Transaction Fee, Trading Fee, and American Depositary Receipt fees.

  • Robinhood doesn’t pass the Regulatory Fee on to customers with $500 or fewer sales.
  • The Trading Fee is a fee required by FINRA. This fee is passed on to investors unless the sales are 50 shares or less.
  • American Depositary Receipt fees (known as ADRs) are certificates for traded foreign stocks and may have a fee per share.

Robinhood Free Stock

Getting the Robinhood free stock promotion is easier than you might think. Simply download the app and use our open account referral for your freebie!

You’ll get a free stock share just for signing up and linking your bank account, and you can earn more with the referral program by sharing your referral link with friends and family.

With this free stock program, the value of the free share can range from $3 to $225, but it varies based on market fluctuations and is limited to company stocks held among Robinhood accounts.

But you must be wondering- how does Robinhood choose your stock?

The stock bonus is randomly selected from Robinhood’s inventory of settled shares. On Robinhood’s website, they’ll tell you your approximate odds for different stocks- like you have 1 in 150 chances of getting an Apple stock.

Taxes On Free Stocks

Firstly, let me make this disclaimer: We are not tax professionals, so you should consult with a tax advisor about your specific situation.

The good news is if the stock you get for opening a Robinhood account rises in value after you’ve purchased it, you don’t need to pay any taxes on it until you sell. You’ll receive a 1099-MISC for the cash value of the stock after you sell it with the amount reported as “Other Income.”

If you won a stock worth $15 (cost basis) and sell it for $30 (yay appreciation!), then that $15 is reported as capital gains.

Can I Open a Second Robinhood Account?

No, you cannot open more than one Robinhood brokerage account using your Social Security number. This is so no one abuses the free stock promotion.

Can I Sell My Free Stock?

Great news! You don’t have to hold onto your free share of stock for 30 or 60 days. You can sell your free share of stock two days after it is put into your Robinhood account.

Is The Free Stock Worth It?

This is a tricky question! It depends on how you look at it. We think free stock is worth it because it’s free cash to start you on an investment journey.

The Robinhood free share of stock is an excellent way for new investors to start. You can use the stock to learn about trading and making a passive income. The only catch is that you need to fund your account to get the free stock.

But then, you could look at it as there’s a 98% chance of getting a free stock that is only worth anywhere from $3 to $10. The chances of getting the $225 free stock are slim at 1%!

See our invite link for Robinhood’s free stock, and give investing a shot with some free money to start!

Make Money On Robinhood

money and time balance scales

There are a few different ways to make money investing using Robinhood. They offer several different financial instruments for investors to take advantage of to make money.

Dividends

When you invest in stocks, you may be eligible to receive dividends. Dividends are payments made by a company to its shareholders out of its profits. They are usually paid quarterly and can be in cash or additional shares of stock.

Not all stocks pay dividends- and those that do typically pay a lower rate than bonds. However, dividends can provide a steady stream of passive income, increasing in value over time. If you reinvest your dividends, they can also help you build your portfolio more quickly.

Stock Appreciation

When you look at the past performance of stock on Robinhood, it can give you an idea of what appreciation you’ll get for buying and reselling it.

The value of the stocks you own can increase or decrease depending on supply and demand. The goal of buying stock is to purchase a stock that will increase or appreciate.

To find the appreciation, you take the amount you originally paid for the stock and subtract it from the amount it is currently trading at (hopefully, that will be higher than what you paid).

If the amount is higher than what you paid, the stock is appreciated. If the amount is lower, then it depreciated.

For example, you bought stock for $100. When you check on how much it is selling, for now, it is valued at $130. It’s gone up! Your stock has appreciated $30.

Now, let’s find how much percentage that is! Take the $30 and multiply it by 100. The stock has an appreciation percentage of 30%.

Other Free Stock Offers

Watch Ads For Money Photo of pretty woman in basic clothing holding fan of dollar money isolated over yellow background

Many other free stock opportunities are available online for opening a new account. Some popular choices besides Robinhood include:

Webull

Webull is a financial services company that offers free stock trading. With Webull, you can buy and sell stocks, ETFs, and options completely free. You also have access to market data, advanced charting tools, and more.

One of the best things about Webull is that there are no account minimums or fees. You can start trading with just a few dollars.

Webull also offers free shares too!

Here’s how it works – Open an account with Webull and get a free stock valued at $300. Then deposit any amount into your account and get two more stocks valued at $3,000 each. That’s three stocks in total!

Be sure to check out our comparison of Webull vs. Robinhood to find out how they stack up against each other.

Firstrade

Firstrade features include commission-free stock trades, ETFs, options, and hundreds of mutual funds.

They also have research tools for advanced traders.

Getting free stocks with Firstrade is similar to the other free stock offers. Firstrade gives you two free stocks. One share of stock is given to you when you open an account. The second is when you deposit $100 into your account.

Public

Public was founded in 2017 and used to be named Matador. It offers commission-free trades of stocks, ETFs, and cryptocurrency. You can also buy whole or fractional shares on Public.

Like other online investing platforms, Public also offers free shares to new users. The value of the slice of stock new users receive varies from $3 to $300.

New accounts can be opened with as little as $1. If you refer your friend with your unique referral link, both you and your friend will get a free slice of stock.

Other Investment Platforms

Side Hustles For Women young african american woman pointing at camera with a satisfied, confident, friendly smile, choosing you with euro banknotes

Betterment

Betterment is a Robo-advisor that doesn’t require a minimum balance. You can get started with any amount of money.

They help you save for your future. You can invest your money with Betterment in a diversified portfolio of low-cost ETFs, and they’ll help you manage it all automatically.

Betterment has some free offers for opening an investment account. You can get up to one year of your investment management fees waived depending on the amount of money you deposit into your investment deposit account.

The length of time for the fee to be waived is dependent on the total amount of money you deposit into your investment account within 45 days of opening the account.

M1 Finance

M1 Finance is a great way to get into the stock market without spending much money. It is an app that lets you make commission-free stock trades.

Some of the M1 Finance features are creating a portfolio of your own hand-picked ETFs, REITs, and stocks or choosing from pre-built investment pies. They also offer fractional investing.

M1Finance, like Robinhood, occasionally offers bonuses when you sign up for a new account. If you deposit $1,000 or more within two weeks of opening your account, you can earn a cash bonus of $30 – $500.

Coinbase

pone with real cryptocoins next to it

Coinbase is a popular cryptocurrency exchange. Cryptocurrencies like Bitcoin, Ethereum, and Litecoin can be bought and sold on Coinbase. Coinbase also offers a wallet service to store cryptocurrencies.

You can earn crypto while you are learning about crypto through Coinbase Earn. With Coinbase Earn, you watch videos about crypto and then take a quiz. You’ll get rewarded with some of the specific cryptos about which you watched the video.

Final Thoughts

businessman with financial symbols coming from hand

The Robinhood free stock for opening a brokerage account is an excellent way for new investors to get started in the market. With no commission fees, it’s easy to get your money working for you.

And because the Robinhood app is so user-friendly, it’s easy to learn the ropes of investing without having to pay a lot of money.

While the chance of getting a high-valued free stock is not that high, they give away a lot of free stocks. You can also try your luck with promotions on the different exchanges, such as M1 Finance and Coinbase.

Robinhood and all of the other exchanges offer great incentives, and if you invest with one, make sure you read the terms and conditions. You don’t want to miss out on the opportunity to take advantage of the promotion and get a free stock. 

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About Kelan Kline

Hi, I'm Kelan Kline! A personal finance expert, entrepreneur, and passionate money nerd. With my bachelor's degree in business and finance, my drive in life is to help others learn how to make money online, create passive streams of income, and reach financial freedom! I have been featured in online publications like Forbes, TIME, USA Today, Huffington Post, Business Insider, Marie Claire, CNBC, Acorns, The Penny Hoarder, Bankrate, Nerd Wallet, Yahoo Finance, MSN, GoBankingRates, Her Money, Thrive Global, The Simple Dollar, Money Crashers, Readers Digest, FinCon, Best Company, Rent Cafe, Romper, Intuit Turbo, Opp Loans, CreditCards.com, Debt.com, Discover, LifeLock, Quick Sprout, Money Geek and many more! Click here to read all of my posts.

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