Is There a Robinhood New User Promo?
If you’re looking at trading Robinhood event contracts or sports predictions, there is no welcome bonus that I can find. I’ve given my thoughts on this below, and also briefly explain the potential brokerage signup bonus that you can get.
There Is Not a Robinhood Predictions Promo
If you sign up to trade Robinhood election predictions and any of their other markets, you won’t be able to get any type of dedicated new trader offer. I was expecting this though, as recently I’ve signed up at and tested a wide range of prediction markets sites, and virtually none of them have any type of welcome bonus either.
I believe that instead of potentially gimmicky promotions, operators like Robinhood instead choose to promote the quality of their prediction trading experience and the fantastic range of markets they offer.
You Can Potentially Get a Brokerage Bonus
Now, there IS potentially a signup bonus that new US customers can get. BUT, this is specifically for their brokerage services. Remember that Robinhood is not just a predictions exchange - it also offers a wide range of other financial services such as brokerage trading, banking, and investments. The brokerage signup bonus gives you the chance of getting brokerage stock bonuses valued anywhere from $5 and $200 depending on your initial trading spend.
This could be an excellent promotion if you intend to use their stocks and shares trading services alongside the prediction markets trading.
Can You Expect Any Robinhood Promo Codes in the Future?
Prediction trading exchanges are still in their infancy, so over time, how sites like Robinhood look now and what they offer could differ greatly. With that in mind, I’m never completely ruling out the potential for a Robinhood promo code in the future - maybe in time welcome bonuses and other promotions become a staple of these sites. For now though, it’s a firm no.
Signing up at Robinhood to Trade Predictions
As I’ve stated already, I really didn’t care that there wasn’t a Robinhood new user promo, as from my testing, I strongly believe in the quality of the prediction trading exchange regardless. If you still want to check it out based on my recommendations, you will need to register an account and you should be able to do that by following these steps:
- Tap our Robinhood banners to open the site.
- Click the sign up button.
- Select your country.
- Enter the personal details.
- Read and accept the site T&Cs.
- Do any initial verification.
- Log in to your new Robinhood account.
The signup process is simple, but you will most likely have to do some verification before you can log in. Prediction trading sites are typically strict in terms of KYC checks to prevent fraud. Just follow any requested steps and have things like access to your email and phone, and an ID document handy to be sure. After creating your account, you can credit it using the available crypto or fiat payment methods, and start browsing the Robinhood sports predictions or other events markets they offer.
Fast Facts About Robinhood Predictions
We now know that there isn’t a Robinhood promo code, and bonuses aren’t really a thing. But what does this site offer and is it even a legit prediction markets exchange? Below, I’ve written some fast facts relating to Robinhood that I thought were important as I was testing it.
1. Trading Fees Apply for Buying and Selling Contracts
It’s important that you understand the Robinhood fees as these will change how much return you can potentially get from buying, selling, or settling your predictions. At the time of writing this guide, Robinhood had the following fees:
- $0.01 trading fee for buying contracts.
- $0.01 trading fee for selling contracts.
- No trading fee for settling contracts.
- Variable exchange fee.
The variable exchange fee can depend on which exchange is facilitating the trade on behalf of Robinhood, but from my experience it’s usually no more than $0.01 per contract.
A simple thing you can do to check the fees is to open a single prediction market and look at the box on the right-hand side - this shows your actual cost for buying the trade contracts, including any fees you will encounter. In terms of fee competitiveness, these are inline with the other main prediction exchanges that I’ve recently tested, and I think they are fair enough so that you still have flexibility in your potential returns.
2. Robinhood Is Legal in All 50 US States
The trade contracts at this site are provided by Robinhood Derivatives LLC. This is a CFTC-regulated exchange which means that Robinhood can legally provide its prediction services in the US. A great thing about this site is that it is also available in all 50 US states - you just need to be over 18 to register an account with them. I recommend reading the terms and conditions and browsing the help center too though before signing up, so that you understand exactly how the site works.
3. There Is Also a Robinhood App
If you want to trade predictions on your mobile then you can download the Robinhood app. Please note that this is a generic app though that is primarily meant for trading and investing in stocks and shares. It should also give you access to the prediction markets though, and it is available for download from both the Google Play Store and App Store.
4. It Covers a Wide Range of Prediction Markets
You can buy and sell trade contracts for a solid range of prediction markets here, including the following main categories:
- Sports
- Climate
- Crypto
- Economics
- Elections
- Education
- Entertainment
- Financials
- Metals
- Politics
- Technology
Some other sites I’ve tested place an emphasis on sports predictions, but I think that Robinhood gets the balance right, and its event predictions are just as detailed and diverse as its sports markets. For example, within the Metals category you have price predictions for Gold, Silver, Platinum and Palladium, while in the tech section there’s markets for AI, company valuations, science, and space development.
The sports section is certainly detailed too, and they cover the NBA, MLB, NHL, and NFL, plus loads of global sports like tennis, golf, soccer, and motorsports. There are also prediction markets for single game results, or special predictions like league winners and end of season awards.
Conclusion - There Is No Robinhood Predictions Promo
So, there isn’t a Robinhood promo code and I realistically don’t think there will be one. Welcome bonuses just aren’t really found at prediction exchanges and I do not think that this should sour your opinion of the brand or its offering. Instead, let’s concentrate on the positive aspects - the superb prediction market variety, the simple fee structure, and the great usability that Robinhood provides.
Perhaps a welcome bonus might come in the future, but for now, you’ll have to get started here without one, and you can do that by using the featured banners on this page to sign up with a new Robinhood account.
