Note: This site contains affiliate links. You can see the full disclosure by clicking here.
If you’ve registered for a Robinhood Financial account, odds are you’ve heard of their exclusive Robinhood referral program incentive in which they give you and your referred friend a free share of the stock from a random company.
Some people questioned whether this was a genuine offer or a con. We want to let you know it’s legitimate at 100 percent. In this article we’ll go over the specifics and how to apply for the referral program.
- Builderall Review 2021 (5.0 Update): Everything You Want To Know And More
- How to Make Money on Instagram With ClickBank?
How Robinhood Referral Actually Works
Tap the Account icon in the bottom right corner of the app and it will take you to the screen above, where you want to tap “Invite Friends.” You will both earn one free share of random stock for any friend you invite who applies to a Robinhood account. It is necessary to remember that you need to have a friend invited to apply for an account via the referral connection provided by the app (starting with https:/share.robinhood.com/). Your friend has to do this before applying for their Robinhood account, and their account registration must be accepted.
Your stock reward will be credited to your account within around a week of receiving the bonus. If you do not claim it within 2 months the bonus may expire. The free shares can’t be traded until two trading days after they’ve been credited to your account, and the free shares’ cash value cannot be reversed for 30 days.
Advantages Of The Robinhood Referral Program
The threshold for payouts is small. Impact issues compensation if fees reach USD 50 or local counterpart. Affiliates will collect their PayPal and bank accounts with payouts.
There is a full time communications manager for the affiliate. Whenever a merchant has the employees to encourage publishers, it speeds up the business process and shows initiative. The Affiliate Team can be contacted through Impact.
The affiliate program for Effect is top-notch. It provides excellent and effective solutions for the monitoring. The activity reports and user interface are also user friendly and very easy to maneuver.
Robinhood has a referral system, too. You will both win free inventories for any new friend you ‘re inviting to join Robinhood. Robinhood will reward each of your accounts with a free stock until the submission of your lead is accepted. Through the calendar year you are eligible to earn up to $ 500 in rewards.
Robinhood is revolutionary. It was the first to deliver a 0 commission investment program, and its product portfolio continues to grow. You can be assured you are sending the traffic to a reliable retailer.
- Free Autoresponder For Affiliate Marketing: Which Is The Best?
- Why You Should Focus On Building A Customer Incentive Program
How Is The Free Stock Chosen?
The free stock shares earned by you and your friend will not be for the same business as they are randomly picked from Robinhood ‘s inventories of settled shares set aside for this initiative.
The shares could be well worth between $2.50 and $200 and will be selected from among Robinhood accounts’ most largest and popular companies traded in.
Robinhood chooses the stocks for this referral network (personal referral links starting with https:/share.robinhood.com/) from a pool consisting of the 3 or 4 companies with the highest market capitalizations between $2.50 and $200 in different price ranges.
Making Money Through The Robinhood Referral Program
Could you earn $1,000 a month as an affiliate to Robinhood? Depends on that. This is possible if you have a YouTube channel or a high-traffic website in the finance niche. If you’re outside those niches, it’s unlikely you ‘re going to make a certain amount or a substantial revenue. Small commission rates as well as a cookie for 30 days will ruin your prospects for profits.
Where should your marketing strategies rank Robinhood in? This should be a goal low to halfway through. Robinhood is a success with thousands of year olds and new investors seeking simplicity. Nonetheless, seasoned investors are likely to turn to big names for stability and product quality. Secondly, the zero-committee value proposition from Robinhood is no longer a clear selling point.
What Are My Chances Of Getting A Stock That’s Worth $200?
Although Robinhood Financial lists Apple (AAPL) as being one of the businesses whose shares will be included in the Robinhood referral free portfolio, as you might have guessed, your chances of purchasing an AAPL share are very small.
Robinhood places at just 1 percent the likelihood of getting a free free share worth around $50 and $200, it’s the same as your opportunity to get a free share valued from $10 and $50. In fact, you (and your buddies) are likely to get a free share from between $2.50 and $10 at 98 per cent.
Is There Any Limit To The Number Of Referrals You Can Have?
Robinhood’s referral scheme restricts the number of free shares each account can obtain to free stock worth $500. And if all of your referred buddies sign up and you get free stock worth $500 you won’t get any more free shares for potential referrals, but your referrals would still get the free share.
- Why Incentive Marketing Can Do Wonders For Your Business
- How Brands Can Increase Their Marketing ROI By Using Affiliate Marketing
What Are The Tax Implications Of The Robinhood referral program?
The cash value of the free shares that you receive can be reported on a 1099-Misc form as “Other Income,” and thus privy to taxes. All capital gains (or losses) realized when and when the free shares are sold will be deemed capital gains (or losses) and taxed at the end of the year accordingly. For instance, if you got the free share worth $20 and sold it for $30 after a year, your year-end taxes would represent $20’s “Other Revenue” and $10’s capital gain.
The best thing about the Robinhood referral program is that you never change your reference connection. It is the same invitation connection that you’ve always used.
One other difference is the reward that you receive, the reward that your friend gets and the withdrawal rules. And what you’ll see above is a compilation of all the various promotions that they’re interested in. They mix it all the time as a startup so what you are seeing will vary according to your trading account.
Free trade, free money, that’s what disruption seems like — when you get a free stock share through that, let us know what you’ve got!
P.S. If you’ve liked this article and want to read something else thats cool, check out my review of the Tesla referral program by clicking HERE.
- 2020 Marketing Boost Affiliate Program Review
- Tesla Referral Program: Everything You Need To Know For 2020
- How To Make Passive Income For College Students