Did you dump/close your RH account? #investments #personalfinance #robinhood #dumprobinhood #dumpRH
Once GME pops and I sell, I’m leaving RobinHood forever.
What do you mean sell ?
😂
After this settles, transferring to fidelity
Already put a transfer request yesterday afternoon
Transferring to E*TRADE
They also blocked GME, AMC.
Not true. I bought both on Friday 1/29 on Etrade.
I also recently opened accounts in Fiedilty and Schwab and most of new trades are happening there. But I am still sympathetic to RH. They are still the company that forced all brokers to go zero fee. This retail investing revolution would probably not have happened without RH. Also I personally like supporting startups. I wish they were more forthcoming with their liquidity issues that most likely forced them to make some of those very bad decisions.
Re commission free trades, it's a scam by RH https://www.sec.gov/news/press-release/2020-321
Yes, RH did not disclose to public that they make money from “payment for order flow” (PFOF). And they were rightly fined by SEC for misleading description of how they earn money. But, "payment for order flow" is common practice among most brokerages including TD Ameritrade, Schwab, and E*Trade.
So I can’t close because my funds haven’t settled😑
It is chinese owned, and that makes it risky. It also blocked trades of GME, so not sure how is it better. One advantage is that they reward people for shilling, which I guess is your post all about.
WeBull restricted trading just like RH. Stop these shameless plugs
These small online platforms dont have the capital to cover these large trades. Big buys like fidelity, vanguard can
The options thing is the best because robinhood won’t fill contracts at the same prices as other platforms.
Their interface and speed sucks, now with the latest disaster with gmc amc, now even dodgecoin, time to move on.