If you have extra money, it’s wise to invest it instead of just keeping it in your bank account. These days, investing has become as easy as possible, but you still need to do it in verified safes and wisely, because it’s all about the money. There are many scammers who will not pay you the money after a profitable deal or just by requesting a withdrawal. One of the verified sites which you can trust and which is perfect for a first-time investor is Robinhood.
Robinhood is a handy mobile app that allows its users to buy and sell stocks without any commissions. This app is very intuitive and understandable even for novice investors. There are working hours in the app, but there is also an option to trade after hours. This gives access to certain benefits.
Why trade stocks after hours
This option gives you access to certain benefits. Trading after hours at Robinhood can be extremely profitable. The biggest advantage is the profit announcement. There are companies that can post quadruple profits after the market closes. If you own shares of such companies, their stock price can change significantly more than during normal business hours. As a result, this option will allow you to take advantage of many potential opportunities when prices change.
Another advantage of trading after hours is foreign markets. The fact is that activity in the European and Asian markets can affect prices in the U.S. market as well. Usually, such activity occurs after normal trading hours in the U.S. due to different time zones. In that case, extending your trading hours will allow you to access more value from your stocks.
This feature is not available to everyone by default. To trade after hours, users will need to activate a Robinhood Gold subscription
How to activate a Robinhood Gold subscription
You must activate your Robinhood Gold subscription to enable after-hours trading. It costs only $5 per month. To upgrade to Gold in the mobile app you need to :
- Open the Robinhood mobile app and log into your account
- Click on the “Account” symbol on the right side of the screen
- Next, you need the three bars at the top of the screen
- After that, select “Settings“
- Then you need the “Robinhood Gold” button
This is how you activate Gold with your mobile app. If you don’t have access to it or you use the web version of Robinhood, it’s even easier to do it here. You need to :
- Log in to your account
- Click on the “Account” button at the top of your screen
- Then just click on “Robinhood Gold“
How to buy and sell stocks after hours
After you purchase Robinhood Gold, you will be able to trade after hours. To do this, you will need to:
- Go to the information page for any stock
- Click on the “Trade” button at the bottom of the screen
- Then select “Buy” or “Sell“. If the share is not yet bought, the “Buy” button will appear automatically
- Enter the sum you want to spend or buy in dollars
- If you want to order or sell shares, select the menu in the upper-right section. Select “Dollars” and pick “Buy in Shares“
- Review the order and verify that all information is correct. If you find an error, click on the “Edit” button
- Then you only have to swipe up and your order will be shipped
So you can trade after hours. This will open up a lot of new possibilities for you. The main thing to remember is that before you buy or sell, you should think carefully and evaluate the market situation.