There's a new brokerage app out for the iphone called Robinhood. It has $0 stock trading commissions. After a couple months on a waiting list I was recently able to create an account.
Since there are no commissions you can literally by 1 share of stock and flip it 10 minutes later and still make a profit. This is not going to make you rich but it sure is fun to play with on your phone.
I bought a small amount of VTI this morning ahead of the FED announcement and just flipped it this afternoon for 2.5% gain in a few hours.
You can literally create your own 10 stock portfolio for $500 and pay no commissions. It's pretty cool. I just wonder if they are going to be able to turn a profit long term without charging commissions.
Since there are no commissions you can literally by 1 share of stock and flip it 10 minutes later and still make a profit. This is not going to make you rich but it sure is fun to play with on your phone.
I bought a small amount of VTI this morning ahead of the FED announcement and just flipped it this afternoon for 2.5% gain in a few hours.
You can literally create your own 10 stock portfolio for $500 and pay no commissions. It's pretty cool. I just wonder if they are going to be able to turn a profit long term without charging commissions.
