I dont care if you get fucked by robinhood again or not, but I am just saying what I found. I have no reason to entertain any of you by fabricating some stories. Robinhood is a good app for those who dont have a lot of money, dont need any customer support line, dont need transparency in shares lending program, cares less abour slow ass option execution speed, and doesnt need detailed option order flows. Its overall a good gambling app for most amatuers
Robonhood best trading app, theyre the David's against Goliath and I will keep on supporting them. DTCC are to blame here and bc of them we'll have new regulations on t+2 funding days and collateral rates.
It's easy to find someone to scapegoat instead of educating yourself on what's wrong with our financial system, but that just shows how you think.
lmao the statement is honestly poorly written not showing what hoops brokerages had to go through to change the capital requirement. They also didn't waive the fees to Feb 1st on Jan 28th at 9:30am - it's written very ambiguously on the statement if you notice the footnote that says "NSCC also decided to waive the capital...", if you notice that they don't mention when they made that additional decision. If there's some court case the full span of events will be uncovered better there.
They removed collateral requirements? Read again. It was 1.4B instead of 125m from a few days ago. They original requirement was ridiculous but the new one was still pretty high for a small broker like RH. This is for unsettled trades btw. Not a measure of AUM. And if things go wrong then they would have to cancel all unsettled trades not just GME.
Would be nice to see you being a CEO and then curious what your decision would have been?
Even IB, TD, Schwab, WeBull, Public blocked the trades. Probably even more.
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It's easy to find someone to scapegoat instead of educating yourself on what's wrong with our financial system, but that just shows how you think.
Would be nice to see you being a CEO and then curious what your decision would have been?
Even IB, TD, Schwab, WeBull, Public blocked the trades. Probably even more.