Bid/ask spread on Robinhood is wider than on TD Ameritrade (19.9/20.6 vs 20.26/20.35). It means if you buy/sell GME on Robinhood, you have to pay 1.3% more than what you need to pay if you buy/sell GME on TD Ameritrade. TD Ameritrade has free commission as well. This is what naive investors on Robinhood need to know. They are fooled by scam free commission advertisement from Robinhood. For every $1000 they spend on buying GME on Robinhood, they are robbed $13. Switch to TD Ameritrade or other apps to save your money. #personalfinance #investments
You’re the product.
Learned the lesson the hard way. Still invested with them bur planning to move to IB soon.
If you’re serious about investing/trading you shouldn’t be using RH. Especially new/casual traders should be using their retirement accounts first anyways.. It’s great in that it really equalized/“democratized” access to the stock market. Huge gain for society as a whole IMO. But once you really start, you can/should branch out. Nothing wrong with their business model, but you’ve just outgrown it 😉
Can’t you just place a lower order and see if it executes on RH? If it’s a competitive market bid then it doesn’t matter what RH is showing you
Decent UI/UX has a price. TD looks like a high school kid designed it
And ToS is still better than Street Smart Edge.. god I hate Schwab’s software
RH is built to appeal to new/amateur investors. You can't deny how slick and fun the app UI is. I personally love it. But yeah probably losing out.
Hmmm pretty weird, seems to be a rare occurrence. I personally do use multiple brokerages and have never seen the difference. I don’t know how the spread data works but this makes me want to figure it out. Maybe the data is delayed. 🧵
Isn't it the same as the 2nd row in the TD screenshot for Nasdaq? Afaik Nasdaq's Level2 data does not provide information from other exchanges.
Cheap is expensive