Do Robinhood employees have any trading restrictions on Robinhood?
Example, can they do any kind of trades as a regular Robinhood customer or are there any trading restrictions? TC: $350K
They can't buy GME.
GME is obviously a no-go.
So, I was told by a recruiter that we cannot buy and sell HOOD, which seems standard. Otherwise, no restrictions. However, I saw someone here say they couldn't buy derivatives, which was odd. The recruiter never mentioned that. Robinhood structures its company so it has different LLCs. If you are working as a security professional under Robinhood Securities LLC, for sure you would need to register with FINRA, but not as a random engineer working for Robinhood Markets. You will need to get fingerprinted though!
You're right, and derivatives on HOOD specifically. You can trade options but not on HOOD for obvious reasons. And can buy/sell HOOD in an open trading window. Pretty standard stuff, unless your job requires FINRA registration, not common for SDE.
Ah thanks! I do a lot of crypto transactions each year and Coinbase has some policies where if a coin is on Coinbase, then I have to trade using Coinbase. This kind of soured the deal a little bit for me. Glad I wouldn't have to deal with this stuff at Robinhood. My recruiter confirmed no FINRA or Form-U4 for me, which is good. I totally understand restrictions for HOOD stock, though long-dated put options on HOOD would be a nice hedge against RSUs shitting the bed :P
Not just on Robinhood App. We can’t have a margin account / instant balance account in any brokerage where we hold $HOOD stock. This is regulation and applies to you if you work for any brokerage.
We also cannot use IPO Early Access
They can't sell GME