Robinhood Referrals
Robinhood Referrals
The problem is that people I've seen selling these services are way overpricing it.
You get a random referral stock worth approx $5 the company says for every referral. All of the ones I've received (by natural referral methods) were between $3-5. More honestly about $3-4. Then I've seen people charging $2.75-3 per referral?!?! That's a profit of .25-$1. Just not really worth it. Especially since I've also heard that Robinhood will followup in many cases if you do something like this and ask you where you got your referrals and hassle you. Even if they don't, you'll also get tax forms and have to pay taxes on your Robinhood activity.
I've seen one person offering the maximum referrals per account to get you $500 worth for $300. That's maybe a bit better but I think something more fair would be a $250 charge so you are basically each making half. I understand a person can do this 2-3 times per checking account so that's the potential to make some money. I would partner with someone to do this the maximum amount of times on a few checking accounts if the prices were more reasonable.
Originally Posted by stufffromdennis
I'd be someone that would be a prime customer for this if it made sense. I am familiar with Robinhood and have multiple checking accounts, etc.
The problem is that people I've seen selling these services are way overpricing it.
You get a random referral stock worth approx $5 the company says for every referral. All of the ones I've received (by natural referral methods) were between $3-5. More honestly about $3-4. Then I've seen people charging $2.75-3 per referral?!?! That's a profit of .25-$1. Just not really worth it. Especially since I've also heard that Robinhood will followup in many cases if you do something like this and ask you where you got your referrals and hassle you. Even if they don't, you'll also get tax forms and have to pay taxes on your Robinhood activity.
I've seen one person offering the maximum referrals per account to get you $500 worth for $300. That's maybe a bit better but I think something more fair would be a $250 charge so you are basically each making half. I understand a person can do this 2-3 times per checking account so that's the potential to make some money. I would partner with someone to do this the maximum amount of times on a few checking accounts if the prices were more reasonable.
The problem is that people I've seen selling these services are way overpricing it.
You get a random referral stock worth approx $5 the company says for every referral. All of the ones I've received (by natural referral methods) were between $3-5. More honestly about $3-4. Then I've seen people charging $2.75-3 per referral?!?! That's a profit of .25-$1. Just not really worth it. Especially since I've also heard that Robinhood will followup in many cases if you do something like this and ask you where you got your referrals and hassle you. Even if they don't, you'll also get tax forms and have to pay taxes on your Robinhood activity.
I've seen one person offering the maximum referrals per account to get you $500 worth for $300. That's maybe a bit better but I think something more fair would be a $250 charge so you are basically each making half. I understand a person can do this 2-3 times per checking account so that's the potential to make some money. I would partner with someone to do this the maximum amount of times on a few checking accounts if the prices were more reasonable.
Also the only issue with a $250 even split is anyone doing it knows its not worth the time or input cost because essentially the buyer is getting a much better deal where they essentially get $250 for paying the seller their $250 cut in advance and just waiting a month to pull out the $500 so in reality that buyer doubled their investment in only a month while the seller has the method, paid for input cost, did the work and are still only splitting profit. Max accounts are only worth doing if I get AT LEAST $350 and even then the buyer is making $150 for basically just letting me run referrals into their account. Hopefully that makes sense. PM if you wanna talk more
Originally Posted by ulyss
Am i allowed to sell robinhood referrals on here? If someone knows or could tag the mod that would know this that would be great. Thanks guys
My guy used to do max referrals for $150 its just a simple bot he would run 25 referrals a day to each account for me.
Add me bro
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