So disappointed with their performance during $GME. I’m sure a lot of people will make money in this IPO but I can’t support it.
As much crap as Robinhood gets for their activities around GME, their app is the easiest to use in the space. It's simply fantastic.
FWIW, Robinhood has zero fees on crypto! I believe they are the least expensive option on bitcoin, ether, etc.
You don't actually take possession of the coin - no wallet, etc, purely custodial. But saves the 3.5% bitcoin fee from Coinbase!
I'm interested to know who is frustrated by their software bugs. There have been easily fixable basic bugs unaddressed for quite some time, more than a year to be specific, and those bugs cause traders frustration (and financial loss) in volatile times. For example you want to buy or sell and the UI has an old state and unless refreshed it would let you do so.
The UI looks pretty but it's purposely confusing, for example Market Buy, Limit Buy, Market Sell and Limit Sell look almost identical and you are funneled to chose the option that makes RH most money. I even accidentally sold instead of buying and bought instead of selling but luckily I reverted the action before the price changed too much. I lost money several times because of the poor UI and was wondering what others think of their '0 commission' marketing. It is deceptive, the price to pay in RH is quite high, I think I've given them at least a few hundred a month (they've been taking).
There are other issues that I am not going to get too deep into regarding mining trading data, which apparently is how they make their big money. That is the leverage to enable the retail investors to bleed cash in the long run. I've been thinking about the parallel between Robin Hood and RobinHood(LLC), and the latter seems to me like an impostor, it is far from the legendary folkloric outlaw who was robbing the rich to give to the poor. It's quite the opposite in its intention in some ways. But I'll give them credit for priming me for trading.
Anyhow, I rolled up my command line interface for RH. I can easily do limit buys and sells, cancel all orders, and so on with the just one or two keywords while I see the real time data in front of me. The API wrapper for RH is available online for whoever is interested. I keep on improving on my scripts little by little and it's fun to program again in Python. It would be nice to script up a bot that takes advantage of small price fluctuations to generate a modest stream if income.
didn't this happen a month ago - https://news.ycombinator.com/item?id=26561321
Whatever you want to say about Robinhood as a firm, I think we have to admit that their mobile interface blew away their competition.
Will the app block shorting robinhood? Does robinhood automatically take the long position?
Can they 'insider' trade based on knowledge of their customers positions on themselves and knowledge of their own upcoming financial results? Seems like ripe for shenanigans.
guess there is too much stupid money flying around to not file at this point in time.
They shouldnt be allowed to be a trading platform, let alone be publicly traded.
Why did you post this? Their S-1 still hasn't been publically released yet, and this news that they filed it with the SEC is from ~1 month ago.
Get a real broker. And if you are trading on your phone, you are probably doing it wrong. (Feel free to vote me down).
I am interested to know what percentage of their user base they lost after the past few months. I know I personally cancelled my account with Robinhood, but I don't know if I'm in the minority or not.
I just don't see the point of them anymore. Once the other trading platforms started offering $0 transactions, I saw way less value in Robinhood - then, following that, the argument was "fractional shares", which many other platforms offer.
Is it just that they are the most famous name in the retail investor space?