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Robinhood is a new stock brokerage platform.

It offers its services with $0 commission for US Stocks and ETFs and also has a $0 minimum deposit. Currently only US residents can use it and must therefore download the App from the App store. They plan on releasing it for Android in the near future.

They do have ways to make money, specifically:

For customers who choose to upgrade to a margin account, Robinhood will collect interest from margin lending.
In addition, Robinhood will earn a portion of the interest generated by uninvested customer cash deposits. The total interest earned is variable and based on the Federal Funds rate.

How your money links up with Robinhood:

You can link your personal bank account to your Robinhood account. You may transfer funds between your accounts using ACH transfers, and then use those funds to buy and sell stocks.

Most of this is taken from their website which can be found here >> https://www.robinhood.com/

Author Topic: Robinhood  (Read 8456 times)

Offline Yehuda25

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Re: Robinhood
« Reply #45 on: December 08, 2015, 03:53:39 PM »
Keep in mind...... If you have some basic experience in trading, you will know that the $10 saved is not worth it for the following reasons.

1) no margin yet
2) full 3 day settlement (some brokers count trade date as one day)
3) no OTCbb trading yet
4) no options
5) no level 2

So for those that want to trade only mid-large cap stocks, and have plenty of money in the account to hold you over through the settlement period, this is for you.

For those that realize the $10 saved is not a savings at all...... This is not for you.

With that being said, I do use robinhood but for stocks that I'm holding mid to longer term.
"For those that realize the $10 saved is not a savings at all...... This is not for you."

Care to elaborate?
“To avoid criticism say nothing, do nothing, be nothing.”


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Online yuneeq

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Re: Robinhood
« Reply #46 on: December 08, 2015, 04:03:08 PM »
"For those that realize the $10 saved is not a savings at all...... This is not for you."

Care to elaborate?

Umm did you read the rest of his post?
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Offline Yehuda25

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Re: Robinhood
« Reply #47 on: December 08, 2015, 06:14:03 PM »
Umm did you read the rest of his post?
Yes. I'm not familiar with stock terms, so I did not understand what he meant.
“To avoid criticism say nothing, do nothing, be nothing.”


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Re: Robinhood
« Reply #48 on: December 08, 2015, 08:13:47 PM »
Yes. I'm not familiar with stock terms, so I did not understand what he meant.

Basically you get what you pay for.
Robin Hood is free and therefore you won't get too many basic or advanced option.
Live forever or die trying.

Offline Yehuda25

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Re: Robinhood
« Reply #49 on: December 08, 2015, 11:58:30 PM »
Basically you get what you pay for.
Robin Hood is free and therefore you won't get too many basic or advanced option.
thanks!
“To avoid criticism say nothing, do nothing, be nothing.”


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Offline Shauly101

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Offline yitzf

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Re: Robinhood
« Reply #52 on: December 14, 2018, 10:23:42 AM »
No FDIC.
Robinhood claims the'll have SPIC coverage for the checking and savings accounts, but DOC quotes from Barrons
“SIPC protects cash that is deposited with a brokerage firm for one limited purpose...the purpose of purchasing securities,” wrote Stephen P. Harbeck, the president and CEO of SIPC. “Cash deposited for other reasons would not be protected.”

Offline travel-ing

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Offline ChaimMoskowitz

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Re: Robinhood
« Reply #54 on: December 14, 2018, 04:57:18 PM »
Stay away from this one.
I just found a new supply of forks!

Offline Yehuda25

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Re: Robinhood
« Reply #55 on: December 16, 2018, 12:13:08 AM »
“To avoid criticism say nothing, do nothing, be nothing.”


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Offline Yaalili

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Re: Robinhood
« Reply #56 on: December 16, 2018, 12:16:09 AM »

Offline Yehuda25

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Re: Robinhood
« Reply #57 on: December 16, 2018, 12:18:31 AM »
No FDIC insurance.
Well SPIC in theory would have covered it...

Now it gets murky though, as its not officially designed for that.
“To avoid criticism say nothing, do nothing, be nothing.”


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Offline Yaalili

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Offline yakrot

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