Absolutely horrible. First lesson of economics: there is no such thing as a free lunch. The analysis, reports, execution, trust and support you get from brokers is well worth trading fees in the long run. Thanks for spreading the news, they aren't Robin Hood. They are robbing the hood.
No one can predict the market but most people who can't afford a $10 fee shouldn't be trading single stocks anyways. You don't need the advice of a broker to buy low MER ETFs. Buying a few NYSE stocks is risky, it's better to just buy an index fund and put some bonds into your mix.
Online trading platforms are usually better than the apps, they provide access to analyst reports helping investors make more informed decisions. You can also buy bonds, ETFS, mutual funds, GICs, non-NYSE stocks, use trailing stops, and do a whole lot of other things which you can't do on Robinhood. The fact that you can't buy index funds and that they are selling your information to HFTs concerns me. Robinhood is turning an entire generation into gamblers (speculators) and exploiting them.
First off, please point me to who has predicted the market.
As for big data: the users utilizing the free platform have such a minute impact on the market that HFTs do not care for their data. Do you actually think Citadel wants to bypass a $75 trade? Or even 1,000 $75 trades?
The net daily volume generated through Robinhood is smaller than the average trade size of a trading desk at major firms.
depends on your definition of predicting a market
do you need trades with price points either side or calling bottom and tops or calling timeframes for price directions
if you want an example of the ability to analysis and predict markets.
My Bitcoin Profit From BTC/USD trades for 2017/2018 most of which were posted on steem if you need some verification
2017 + 400%
2018 + 780%
yes i wholly believe big data trading corps would utilize the trading data they buy from millions of users to front run markets short sell pump and dump etc
You're right there is no such thing as a free lunch. RobinHood is still a very profitable company and they are taking advantage of customers in a somewhat secretive way. However, if your goal is just to buy one or two stocks to just get the stock trading experience, I would argue that they could provide a good user experience for that.
I agree, if you want to buy and hold small quantities of specific blue chips it's fine. If it's a $10 dollar fee that is preventing you from trading, you probably shouldn't be hand picking single equities anyways, the low MER ETF route is definitely more suitable and reasonable.
I see, I wasn't aware of this. Would you still consider using RobinHood knowing this? Unfortunately, corruption exists in nearly every company out there.
I think it's a good way to get your feet wet investing a share at a time if you're new. The threshold for the amount you are getting sold out by Robinhood is lower than you'd think. With any sort of size, paying $5 to E-Trade is probably cheaper, especially when using limit orders.
Just FYI you're sitting at 100% VP. Would appreciate if you could vote this user that informed you and others of something they may not have known.
I believe I have gotten them near the right STU for minimum payout but would be a good gesture to help top them off so this informative comment gets a payout.
I never use my voting power as much as I should. I don't believe I should always vote 100% though on comments because that would be like giving out nearly 50 cents to someone per comment--they would be rich in a month or 2. I think good comments and such deserve upvotes, but getting someone rich through upvotes on comments doesn't seem cool. Posting and delegating appear to be the 2 most valuable ways to interact with Steemit right now. Posting about important information or delegating to a good cause here.
Thanks for the reply and vote. It can be a challenge to consistently curate.
I always hate having a thoughtful comment on my blog not reach payout. (Not entirely sure if the cutoff is 0.02 SBD or $0.02 STU so I err on the side of caution with the latter)
Btw, I do use RH. My portfolio was looking pretty good on the tail end of the bullrun. Now... Not so much.
I've heard that they do sell data but how else would you get zero fees. Gotta be a trade off somewhere.
Anyways, another thing you may not know. (Don't worry. Not expecting a vote)
RH is supposed to be opening checking and savings with a 3% interest. They are anticipated some changes with federal interest rates or something like that IIRC.
I actually wasn't aware that some of these comments aren't reaching payout. Ok, I understand that now. There is clearly a trade off to using RobinHood because they are still a very profitable company. I was aware about the checking and savings account, it looks like an interesting idea.
Absolutely horrible. First lesson of economics: there is no such thing as a free lunch. The analysis, reports, execution, trust and support you get from brokers is well worth trading fees in the long run. Thanks for spreading the news, they aren't Robin Hood. They are robbing the hood.
This is not an alternative to brokers. Most people cannot afford those.
This is an alternative to online trading apps that charge upwards of $10/trade--apps like eTrade, Tradeking, and many, many more.
As for the "advice" of brokers, it's been proven time and time again that no one can predict the market.
No one can predict the market but most people who can't afford a $10 fee shouldn't be trading single stocks anyways. You don't need the advice of a broker to buy low MER ETFs. Buying a few NYSE stocks is risky, it's better to just buy an index fund and put some bonds into your mix.
Online trading platforms are usually better than the apps, they provide access to analyst reports helping investors make more informed decisions. You can also buy bonds, ETFS, mutual funds, GICs, non-NYSE stocks, use trailing stops, and do a whole lot of other things which you can't do on Robinhood. The fact that you can't buy index funds and that they are selling your information to HFTs concerns me. Robinhood is turning an entire generation into gamblers (speculators) and exploiting them.
@hatu
robhinhood is big data trading app they sell data to big trading funds to frontrun their users trades why would you promote the use such a scam?
false
First off, please point me to who has predicted the market.
As for big data: the users utilizing the free platform have such a minute impact on the market that HFTs do not care for their data. Do you actually think Citadel wants to bypass a $75 trade? Or even 1,000 $75 trades?
The net daily volume generated through Robinhood is smaller than the average trade size of a trading desk at major firms.
depends on your definition of predicting a market
do you need trades with price points either side or calling bottom and tops or calling timeframes for price directions
if you want an example of the ability to analysis and predict markets.
My Bitcoin Profit From BTC/USD trades for 2017/2018 most of which were posted on steem if you need some verification
2017 + 400%
2018 + 780%
yes i wholly believe big data trading corps would utilize the trading data they buy from millions of users to front run markets short sell pump and dump etc
Robinhood has over 4 million users
https://www.investors.com/news/robinhood-app-has-more-customers-than-online-broker-etrade/
Article with details on Robinhood selling User Data to HFT firm
https://bitcoinist.com/no-such-thing-as-a-free-lunch-robinhood-user-info-sold/
You're right there is no such thing as a free lunch. RobinHood is still a very profitable company and they are taking advantage of customers in a somewhat secretive way. However, if your goal is just to buy one or two stocks to just get the stock trading experience, I would argue that they could provide a good user experience for that.
I agree, if you want to buy and hold small quantities of specific blue chips it's fine. If it's a $10 dollar fee that is preventing you from trading, you probably shouldn't be hand picking single equities anyways, the low MER ETF route is definitely more suitable and reasonable.
I see, I wasn't aware of this. Would you still consider using RobinHood knowing this? Unfortunately, corruption exists in nearly every company out there.
I think it's a good way to get your feet wet investing a share at a time if you're new. The threshold for the amount you are getting sold out by Robinhood is lower than you'd think. With any sort of size, paying $5 to E-Trade is probably cheaper, especially when using limit orders.
Posted using Partiko Android
Just FYI you're sitting at 100% VP. Would appreciate if you could vote this user that informed you and others of something they may not have known.
I believe I have gotten them near the right STU for minimum payout but would be a good gesture to help top them off so this informative comment gets a payout.
Thanks!
Posted using Partiko Android
I never use my voting power as much as I should. I don't believe I should always vote 100% though on comments because that would be like giving out nearly 50 cents to someone per comment--they would be rich in a month or 2. I think good comments and such deserve upvotes, but getting someone rich through upvotes on comments doesn't seem cool. Posting and delegating appear to be the 2 most valuable ways to interact with Steemit right now. Posting about important information or delegating to a good cause here.
Thanks for the reply and vote. It can be a challenge to consistently curate.
I always hate having a thoughtful comment on my blog not reach payout. (Not entirely sure if the cutoff is 0.02 SBD or $0.02 STU so I err on the side of caution with the latter)
Btw, I do use RH. My portfolio was looking pretty good on the tail end of the bullrun. Now... Not so much.
I've heard that they do sell data but how else would you get zero fees. Gotta be a trade off somewhere.
Anyways, another thing you may not know. (Don't worry. Not expecting a vote)
RH is supposed to be opening checking and savings with a 3% interest. They are anticipated some changes with federal interest rates or something like that IIRC.
Enjoy your weekend.
Posted using Partiko Android
I upvote the shit outta everything I interact with with my .025 cents. I must be doing it wrong.
Posted using Partiko Android
Well I think this comment is worth 100% upvote, so I will do that sometimes.
I actually wasn't aware that some of these comments aren't reaching payout. Ok, I understand that now. There is clearly a trade off to using RobinHood because they are still a very profitable company. I was aware about the checking and savings account, it looks like an interesting idea.
You got a 83.33% upvote from @sleeplesswhale courtesy of @isacoin!