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Robinhood Investing

Old 10-31-2020, 11:31 AM
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Default Robinhood Investing

Anyone here use this service? Any comments or advice is encouraged.
Old 10-31-2020, 12:20 PM
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Simple. Avoid.
Old 10-31-2020, 03:13 PM
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Cost of trades are pretty much zero across every platform. No idea why anybody would use that platform.

Hedge funds pay money to execute their trades if that gives you any idea of who is using Robinhood.
Old 10-31-2020, 03:39 PM
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Avoid. The app freezes and crashes all the time. I believe their databases were also hacked and a bunch of personal info leaked about the users.

E*TRADE is free, Charles schwab etc. all free no commission trades and way more secure and a better software.
Old 11-01-2020, 10:37 AM
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Whether you like it or not RH has taken over the space. In very short order. I looked at a simulation of it and it's as mickey mouse as it gets. Kids love that. I equate it to Sports betting, which is now all the rage.

Decades ago I read a statistical analysis of option trading...I think it was in Science. They made the case that if you were right 80% of the time, you'd go broke. People need to learn on their own. With Zoom up 2000% in a year you can see why day traders are attracted like moths to the light bulb!
Old 11-01-2020, 10:43 AM
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I've got an account but rarely use it. Bought a couple stocks a couple years ago and have left them there. I use ETrade as my primary online stock investment firm. I recommend ETRADE over robinhood
Old 11-01-2020, 10:48 AM
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Robin Hood investing, virtue investing, Social Conscious investing. All equal an excellent way to underperform market averages.
If you are more interested in your feelings, or how others feel about you, I strongly recommend them.
Old 11-01-2020, 11:01 AM
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Been a customer of Charles Schwab for 30 years. I've watched their cost of trading drop over the years till they finally hit $0.
Never been disappointed in them. Usually deal online but over the years, I've had numerous phone calls to them. Always got an agent based in an American office who was always pleasant and professional to deal with. I have never dealt with anyone with even a hint of a foreign accent. How many companies can you say that about?
Old 11-01-2020, 11:05 AM
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I have an account and several of my friends (10) plus all put a minimal amount in and compete to see who can do better, only rule 20 dollar and less stocks for buy in... its fun and harmless but I would not do it with “retirement “ funds
Old 11-01-2020, 11:11 AM
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For those who don't know, they now do things like showering flowers, game tricks, exploding confetti and such to encourage you to trade more. You do a trade they applaud like you just advanced a level at fortnight
Old 11-01-2020, 01:16 PM
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Originally Posted by gotfw View Post
Anyone here use this service? Any comments or advice is encouraged.
it’s definitely geared towards the younger generation with ease of use, Mickey Mouse type trading platform. I like td ameritrade, always been good for me and easy to use and when I want to cash out I can easily transfer directly in or out of the account instantly. I am wondering how these guys are all handling the de listing of HTZ, it was the highest trending stock with Robin Hood, those guys all lost some serious money.
Old 11-01-2020, 04:45 PM
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You can track the Robinhood activity at this site and invest accordingly with the trends - https://robintrack.net
Old 11-02-2020, 03:01 PM
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Originally Posted by Re-Bait View Post
For those who don't know, they now do things like showering flowers, game tricks, exploding confetti and such to encourage you to trade more. You do a trade they applaud like you just advanced a level at fortnight


They're gonna make so much money. The world is full of idiots
Old 11-02-2020, 03:38 PM
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On reddit, there is a sub called wallstreetbets and they all use Robinhood. There was an issue with the way RH calculated the amount you could borrow on margin which let some people borrow insane amounts of money which they then lost. I don't remember the specifics of it but it made me not want to put my money in a brokerage that didn't have that basic compliance figured out. If a lot of people used that exploit and lost a ton of money, how would RH be able to settle the transactions?
Old 11-03-2020, 05:27 AM
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Another vote for Etrade or one of the other older well established brokerages. IMO it is for GenZ & younger millenials.

While Robinhood might have more than 10 million accounts versus E-Trade's 5.2 million and Morgan Stanley's 3 million, E-Trade's average account size is $69,230 and Morgan Stanley's is $900,000, while a survey found most of Robinhood's held $1,000 to $5,000.
Old 11-03-2020, 05:40 AM
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I’ve been using it for about 6 months now mainly for the simplicity of it but I use TD Ameritrade for technical analysis. The charts are garbage on RH but as far as the transactions, it’s simple.
Old 11-03-2020, 06:28 AM
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Lots of goon info. My broker mentioned it and got me curious.
Old 11-03-2020, 06:22 PM
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Personally, I would lose the broker if his idea is for you to look into Robin Hood investing. As others have expressed, there are many established sites with zero in commissions and lots of articles to research investing strategies. Fidelity, Charles Schwab, UBS, and etrade are all sites I use and would recommend due to my own personal use.
Old 11-03-2020, 06:43 PM
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So just say you had no clue on investing in stocks but someone told you to use Robinhood and invest in a stock that you a currently 55% in the red..... what’s the best corse of action wait until I can sell for less of the loss then delete the app? Asking for a friend....
Old 11-03-2020, 07:04 PM
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Originally Posted by Trollin4Tuna View Post
On reddit, there is a sub called wallstreetbets and they all use Robinhood. There was an issue with the way RH calculated the amount you could borrow on margin which let some people borrow insane amounts of money which they then lost. I don't remember the specifics of it but it made me not want to put my money in a brokerage that didn't have that basic compliance figured out. If a lot of people used that exploit and lost a ton of money, how would RH be able to settle the transactions?
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