Robinhood is a popular stock trading app that charges absolutely no commissions. You can read our full review of Robinhood to get a better idea of what they do.
They recently went public and so they’re under even more pressure to increase accounts and revenue.
The most exciting of which is a free share of stock for new accounts when you have a referral. (and once you have an account, then you can refer your friends!)
Want even more free stock? Webull will give up to 12 free stocks. They have no account minimums and fees, so enjoy your free stock!
The two brokers are similar, here is a comparison between the two!
Table of Contents
| Brokerage | Bonus Promotion | Link |
|---|---|---|
 | 🏆 up to $5,000 | Learn more |
 | up to 12 free stocks from the Brokerage+ up to $3,000 from Cash Management | Learn more |
 | 15 Free Stocks | Learn more |
 | free stock (valued $5 - $200) | Learn more |
 | Up to $500 cash | Learn more |
 | up to $700 | Learn more |
Open Account, Get free stock (valued $5 - $200)
Robinhood recently improved their new account promotion to include free stock (valued $5 - $200).
For a short time, they offered a bonus that included cash based on what you deposited. That has expired and there’s just the free stock bonus now.
Free Stock Promotion Details
When you join Robinhood with a referral, you get a chance of getting a share of stock valued between $5 – $200. The stock is awarded when you link a bank account.
When you refer a friend, you also get a share of stock too – you can receive up to $500 in free stocks per year.
The stock is not automatically deposited into your account. You will get a notification (or look in your history/past invites screen) and you have 60 days to claim the stock.
You can sell the stock after 3 trading days but you have to keep the cash value of the stock in your account for 30 days. That value will be reported on a 1099-MISC.
According to Robinhood, here are the probabilities (based on when they acquired the shares, the market fluctuates so award could be different) – 1-in-100 get a value of at least $20; 1-in-1000 get at least $50.
Once they open an account and transfer, you’ll see a notification on your phone. Click through to the person and claim your stock:
Then you get to a screen where you “pick” three stocks (part of Robinhood’s gamification):
There’s some intermediate “scratcher” screen but then you see this:
Fun! Now I can sell in 2 business days (how long it probably takes to settle).
Here are a few high stock amounts I’ve seen:
How Robinhood Promotions Work
A great part about Robinhood promotions is that your referral link never changes. It’s the same invite link you’ve always been using.
The only difference is the incentive you get, the incentive your friend gets, and the rules regarding withdrawals. So what you will see above is a listing of all the different promotions they’re actively running. As a startup, they mix it up all the time so what you see will vary based on your account.
No commission trades, referral sign-up money, this is what disruption looks like — if you get a free share of stock through this, let us know what you got! 🙂
Ms. Frugal Asian Finance says
Interesting app. I’ll give it more thought before trying. Thanks for sharing!
mike says
i got sprint
Jake says
I just got at&t NYSE:T and my friend got the sought after Apple NASDAQ:APPL :0
Whaaaaat??? T and AAPL!? Nice. ~$150 for AAPL is great but ~$38 for AT&T is a solid get too.
So far I’ve only gotten the $3-10 stocks (usually around $7-8).
Chris Loftus says
The first one I got was brk-b (Berkshire b) and I’ve also gotten 2 groupons, 2 zegna, 1 sunpower, and another I can’t think of. I love this app. I started with 0 dollars and have already made over 300 in a month. Thank you for reading.
Joe says
I got Sprint! $7 is better than nothing. 🙂 Thanks!
Yeaaaah! $7 is better than nothing! 🙂
Frugal Price says
Does Robinhood allow accounts for minors yet? I really want to get nieces and nephews to learn about investing using this, but I can’t until they allow some sort of custodial accounts.
They don’t have custodial accounts yet, right now it’s just straight up cash accounts.
Kerry says
Hi Jim, can we tap into this outside the US?
As far as I know, to open an account you must be a U.S. citizen, U.S. permanent resident, or have a valid U.S. visa – and have a U.S. residential address.
Rob S. says
Australia now…
Fred says
Hey Jim, it sounded like a great deal so I signed up as soon as you posted this. However, I am still waiting. It keeps saying Pending Application Approval. Should it take more than a couple weeks for the account to set up?
Chris Loftus says
You need to go to email and verify your email. Then go to your home page of robinhood and there will be a notification saying claim your free stock.
Mike says
I am already signed up with Robinhood. I don’t see the option for me to get stock for referring people. Did you have to do something special?
Chris Loftus says
Go to personal info on robinhood. Then friend invites. As soon as your friends sign up properly, you’ll get a notification saying claim your free stock.
Joseph Rather says
I already signed up for Robinhood. Is there a way I can still get the free stock that you would get for signing up?
You’d have to check with them.
Danny says
Just got FB for $170… seems too good to be true?
It’s true! 🙂
Mike says
I have referred 2 people. They both got Zynga & I got a Zynga and a Groupon (~$4 a pop).
Chris Ward says
I’ve gotten 3 shares of Chesapeake Energy, 2 shares of Groupon, and 2 shares of Zynga so far.
Rhod says
Got Apple for $168.38 just now. the other in past 3 were all Sprint lol
Crystal says
I got a FB stock valued at $166!
That’s awesome!
Andrew says
Does the person being referred need to deposit any money into their account before I can receive the free stock?
There does not appear to be a deposit requirement according to their terms & conditions.
Taija says
I got Microsoft as my free one!! It was $108 at that point!
Joseph R Barker says
It says that there is a $500 total limit. Is this just at any given time, or is this forever?
That’s a lifetime account referral limit.
Erik says
I got sprint as well, meh
Leslie says
Hi Eric.
Perhaps Sprint’s interest in merging with T-mobile in order to provide meaningful competition against AT&T & Verizon will give it a boost in its Interest or ‘X’ Factor?
I hope so for both of us & others. I received Sprint as well.
Best wishes,
Leslie
Andrew J Cooper says
I joined with a referral from my friend in October 2018, neither of us ever received a free stock.
I’d reach out to Robinhood’s support to get that fixed, they’re pretty good about that.
Cole Howard says
got a berkshire hathaway for free a few months back when it was priced at 194$
Dee says
Does my friend have to deposit money into Robinhood to get a free stock?
No, I don’t believe so.
Patricia Carhart says
I signed up for Robinhood….however I did not receive a free share of stock, nor did the person that invited me. What needs to happen for us to receive the free stock share?
I would contact customer service to get that sorted out.
Kendra Jackson says
The free stock I got was Microsoft! I wasn’t expecting that.
Brandy says
AAPL for $203.77
Who woulda thunk I’d be a 2%er
My Mom will be so proud
Lol
David says
I got a Sprint stock when I signed up for $5.77 which was cool. Just today signed up my first friend and got Apple at $211!!!! That was super cool. Created a pretty big buzz around the office and now have several people jumping on board. Great advertising by Robinhood. Meanwhile, I’ve enjoyed the App. Very simple and user friendly. Can’t beat free trades. Will enjoy this while it lasts. Free is hard to maintain.
Steve morse says
Another 2% here..got JNJ for $145.89…sometimes you’re the bug…sometimes the windshield!
Lex says
I got a share of Antero Midstream. XD
~ $5.48
Tj says
Got Microsoft @232.50 !! First reward too! Can’t beat that.
That’s awesome!
Robert says
If I sign up, and a friend refers me, can he or she see any of of my bank account numbers or details? What personal data can the referral companion see for walking me through the process of obtaining stock or currency? How secure is my information, even from a friend who is referring me? Is my whole name available to been seen or just first names for referral person?
They don’t get any of your information, they may see your first name but that’s it.